.svg)
Good Morning. This is the Sunya Scoop. The newsletter that takes energy transition news and turns it into an easy-to-read email for you.
Here’s what we have for you today (it’s jam packed):
Heirloom plans two Direct Air Capture facilities in NW Louisiana
KKR partners with IGNIS on hydrogen, ammonia and other low-carbon fuels
Air Liquide to invest $850 million as part of Exxon’s hydrogen project
bp acquires Bunge’s 50% interest in Brazilian biofuels joint venture
Fervo signs 320 MW in geothermal PPAs with Southern California Edison
Enbridge, First Nations and Métis partner on 200 MW wind project
Doral Renewables receives $400 mm in equity from Dutch pension APG
The almost headlines
In case you missed
Quote of the week
Heirloom plans to build two Direct Air Capture (DAC) facilities in Northwest Louisiana, near Shreveport, with a combined CO2 removal capacity of nearly 320,000 tonnes per year.
The first facility, to be operational in 2026, will remove approximately 17,000 tonnes of CO2 annually.
The second facility is part of Project Cypress, a Regional DAC Hub managed by the DOE, eligible for up to $600 million in funding, and expected to remove about 300,000 tonnes of CO2 annually upon full operation by 2027.
Louisiana has offered a $3 million performance-based grant for site improvements, with potential additional incentives worth up to $7.8 million over 10 years if employment and payroll targets are met.
Heirloom is partnering with CapturePoint for CO2 storage in Class VI underground wells, ensuring safe and permanent storage.
Both DAC facilities will operate entirely on renewable energy sources.
The Iowa Utilities Board (IUB) has approved Summit Carbon Solutions' base pipeline project, a significant step for the company and the broader agriculture industry.
This approval follows successful reapplication hearings for Summit’s North Dakota pipeline permit.
CEO Lee Blank announced plans to file a South Dakota permit application in early July, expressing confidence in a positive outcome.
Summit Carbon Solutions is collaborating with 57 ethanol plants across five states and has secured voluntary easement agreements with 75% of Iowa landowners along the pipeline route.
KKR and IGNIS announce a partnership to develop green hydrogen, ammonia, and other green technologies internationally, starting with a new Power-to-X (P2X) platform.
KKR will invest up to €400 million to develop and build future projects under this initiative.
Both KKR and IGNIS will own 50% each of the newly launched IGNIS P2X.
The partnership will start with a global pipeline of approximately 20 GW of P2X projects and over 10 GW of advanced and early-stage renewable energy projects.
IGNIS P2X aims to serve industries such as refining, steel, chemicals, and fertilizers with green hydrogen, ammonia, e-methanol, e-fuels, and sustainable aviation fuel (SAF) production plants.
The investment in IGNIS P2X marks the third investment under KKR’s global climate strategy, which focuses on large-scale solutions for a low-carbon economy transition.
KKR has invested over $21 billion in renewable energy and climate-related projects through its infrastructure platform.
IGNIS, established in 2015, manages a portfolio of 6.6 GW and is involved in over 20 GW of renewable projects globally.
Air Liquide commits to investing up to $850 million in the largest low-carbon oxygen production facility in the Americas.
The investment is for four Large Modular Air separation units and related infrastructure at ExxonMobil’s Baytown, TX, site.
This project will increase Air Liquide's oxygen production capacity by 50% in Texas.
The facility will primarily supply ExxonMobil with low-carbon oxygen and nitrogen, and also produce argon and rare gases like krypton and xenon for other customers.
The project aims to reduce the CO2 footprint of oxygen production by two-thirds through low-carbon electricity and innovative solutions.
The Baytown facility will produce 9,000 metric tons per day of oxygen and up to 6,500 metric tons per day of nitrogen for low-carbon hydrogen and ammonia production.
ExxonMobil's project aims to capture and store 7 million tons of CO2 annually.
bp has agreed to acquire Bunge’s 50% interest, gaining full ownership of the bp Bunge Bioenergia S.A. joint venture in Brazil.
The enterprise value of the acquisition is approximately $1.4 billion, involving consolidation of 100% of the venture’s financial results, including net debt of about $0.5 billion and lease obligations of approximately $0.7 billion.
Upon completion, bp will have the capacity to produce about 50,000 barrels per day of ethanol from sugarcane across 11 units in five Brazilian states.
The acquisition supports potential growth opportunities in next-generation ethanol, sustainable aviation fuel (SAF), and biogas.
Concurrently, bp is scaling back its plans for developing new biofuels projects, pausing two potential projects while continuing to assess three others.
These initiatives are expected to help bp achieve its bioenergy transition growth engine target of approximately $2 billion EBITDA by 2025.
Fervo Energy has executed two power purchase agreements (PPAs) totaling 320 MW with Southern California Edison (SCE).
These 15-year agreements are for 24/7 carbon-free geothermal energy, sufficient to power approximately 350,000 homes in Southern California.
The energy will be sourced from Fervo Energy’s 400 MW Cape Station project under construction in southwest Utah.
The first phase of Cape Station, producing 70 MW, is expected to be operational by 2026, with the second phase coming online by 2028.
In 2021, the California Public Utilities Commission mandated utilities to procure 1,000 MW of non-weather-dependent, zero-emission energy to enhance grid reliability, boosting demand for geothermal energy.
Fervo uses advanced drilling technology adapted from the oil and gas industry, which has shown promising early results in reducing costs and drilling times at Cape Station.
Fervo has now contracted 373 MW of renewable power from Cape Station, marking the world’s largest geothermal PPA.
Vattenfall and Cemvision sign a Letter of Intent for the development and supply of near-zero emission cement.
The new cement aims to reduce CO2 emissions by up to 95% compared to traditional cement.
Cemvision uses recycled materials from mining and steel industries, with production powered by fossil-free energy.
Cemvision reports an 80% reduction in carbon emissions in demo production, targeting a 95% reduction by 2030.
As a member of the First Movers Coalition, Vattenfall pledges to buy at least 10% near-zero emission cement by 2030.
Cement production is responsible for about 8% of global CO2 emissions; traditional Portland cement emits 850 kg CO2e/tonne.
Enbridge partners with Six Nations Energy Development LP, a consortium of First Nations and Métis groups, to develop a 200-megawatt wind energy project in Saskatchewan.
The project, named Seven Stars Energy Project, will be located southeast of Weyburn and aims to provide emissions-free power for over 100,000 homes.
Financial participation by the partners is supported by loan guarantees up to $100 million from the Saskatchewan Indigenous Investment Finance Corporation (SIIFC).
First Nations and Métis partners have the opportunity to acquire at least 30% equity ownership in the project.
The project is expected to be operational by 2027, pending necessary approvals and agreements, with a power purchase agreement sought with SaskPower.
Doral Renewables LLC receives a $400 million minority equity investment from Dutch pension APG.
APG will also provide additional corporate credit support and funding, amounting to $185 million over time.
Doral Renewables specializes in large-scale renewable energy and storage projects, working closely with farming communities in the U.S.
Doral’s project pipeline includes over 13 GW of capacity, with 1.35 GW under construction and approximately 2 GW of mature projects expected to begin within 12 months.
Doral’s portfolio includes phases of the Mammoth Solar complex in Indiana and projects across multiple U.S. energy markets including MISO, ERCOT, and SERC.
EQT Corporation released its 2023 Environmental, Social and Governance (ESG) Report, emphasizing significant reductions in emissions and environmental impacts.
Achievements include reducing Scope 1 methane emissions intensity to below 0.02% and Scope 1 greenhouse gas (GHG) emissions intensity by approximately 70% since 2018.
EQT is on track to achieve net-zero Scope 1 and Scope 2 GHG emissions by 2025.
The report underlines the role of natural gas in facilitating the transition to lower carbon emissions and enhancing energy security globally.
CORMETECH and Ozona Partner to Advance Carbon Capture and Sequestration
Enerflex and BASF to collaborate in carbon capture, utilization and storage applications
Nextracker Acquires Ojjo to Expand Utility-Scale Solar Tracker Foundations Business
Sunya Stories podcast - Capturing Carbon with Carbonvert CEO Alex Tiller
You can subscribe via Spotify or Apple Podcasts as well.
Last Thursday’s edition - DOE drops a billion on nuclear SMRs
DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.
