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NEW - Sunya Stories with Bala Nagarajan from S2G Investments
Quinbrook to Build £240M, 350 MW Solar Project in East Midlands
X-ELIO & Pharma Giants Partner for 245 GWh Renewable Energy PPA
Blastr Green Steel Secures New Investors for Low-CO2 Steel Production
Aymium Secures $150M from Bedrock Industries to Expand Biocarbon Production
GridStor Acquires 150 MW Texas Battery Project Amid Soaring Demand
Entergy Texas, Kinder Morgan & Golden Pass LNG Partner on $1.7B Pipeline
Infinity Natural Resources Prices $265M IPO, Trading Under 'INR'
Renegade Infrastructure Secures Equity Commitment from Energy Spectrum Capital
Viper Energy Acquires $1.2B in Midland Basin Mineral & Royalty Interests
The almost headlines
In case you missed
Check out the latest Sunya Stories podcast with Bala Nagarajan from S2G Investments
Bala Nagarajan is Managing Director of the Energy Investment team at S2G Investments.
You can find it on Spotify or Apple Podcasts.
Investment Round: $425M Series F, raising total funding to over $1B with a $5.425B valuation.
Investor Backing: Lightspeed, SoftBank, Sam Altman, Mithril Capital, Nucor, and others.
Fusion Progress: Polaris prototype now operating, targeting first electricity from fusion.
Commercialization Timeline: 50MW PPA with Microsoft (2028), 500MW plant with Nucor (2030s).
Project Scale: 350 MW Mallard Pass solar project, Quinbrook’s second nationally significant UK infrastructure development.
Economic Impact: £124M socio-economic contributions, 2,000+ jobs, & 71% biodiversity net gain expected.
Decarbonization Goals: Will produce 14M MWh of renewable power & cut 665,000 tonnes CO₂ emissions.
Construction Timeline: Build begins in 2026, commercial operations by 2028, following Cleve Hill's CfD success.
PPA Overview: Thermo Fisher, Haleon, Gilead & GSK ink 10-year virtual PPA for 245 GWh/yr from X-ELIO’s 369 MW Lorca Solar.
Operational Timeline: Lorca Solar set to go live in early 2026, supplying 35% of total capacity to pharma buyers.
Decarbonization Push: Agreement enables supply chain sustainability, reducing pharmaceutical sector’s carbon footprint.
Financing Round: Backed by Aurora Infrastructure, Onvest Oy, Security Trading Oy, Cargill, Tesi, & Vanir Green Industries.
Project Scope: 6M metric tonne DR pellet feedstock plant in Finland, using hydrogen & renewable energy.
CO2 Impact: Aims for 90% lower emissions vs. conventional steelmaking.
Regulatory Progress: Environmental Impact Assessment completed, permit applications in 2025.
Capital Infusion: $150M five-year financing to refinance debt & fund growth in renewable biocarbon production.
Sustainability Impact: Biocarbon replaces coal in steel & industrial sectors with 600+ patented technologies.
Strategic Backing: Bedrock’s Alan Kestenbaum joins Aymium board, adding expertise in metals & industrial investment.
Investor Confidence: Existing backers include Sandton Capital,
Steel Dynamics, Rio Tinto, and Nippon Steel Trading.
Capacity & Location: 150 MW / 300 MWh storage project in Hidalgo County, TX.
ERCOT Growth: Texas peak power demand to rise 50% by 2030, driven by data centers.
Construction & Jobs: Operational by summer 2026, creating 100+ jobs.
Strategic Growth: GridStor’s 4th major acquisition in 12 months, backed by Goldman Sachs Asset Management.
Pipeline Scope: 216-mile, $1.7B Trident Pipeline, delivering 1.5-2.8 Bcf/day from the Permian to Port Arthur.
Energy Security: Provides fuel supply for Entergy's Legend & Lone Star Power Stations.
Cost & Resiliency: Lower energy costs & improved grid flexibility for Southeast Texas.
Operational Timeline: Expected early 2027, supporting regional industrial growth.
IPO Details: 13.25M shares at $20.00 each, raising $238.6M net after fees.
Underwriters: Citigroup, Raymond James, RBC Capital leading book-running.
Stock Exchange: Shares trade under NYSE: INR, with Feb. 3, 2025 closing.
Use of Proceeds: Funds repay debt & support corporate expansion in the Appalachian Basin.
New Midstream Player: Founded late 2024, focuses on oil & gas infrastructure in the Lower 48 U.S.
Industry Expertise: Led by Drew Ward & Jason Tanous, both former Pinnacle Midstream executives.
Strategic Backing: Energy Spectrum Partners VIII LP funds the venture after Pinnacle’s $550M sale to Phillips 66.
Growth Plan: Targets acquisitions, greenfield projects, & strategic partnerships in North America.
Terminal Capacity: 400,000 barrels per day, split 200,000 bpd each for ONEOK & MPLX customers.
Infrastructure Investment: $1.4B total cost for terminal (Texas City Logistics LLC), plus $350M for a new pipeline.
Project Ownership: MPLX leads terminal construction/operations, ONEOK manages 24-inch MBTC Pipeline LLC.
Timeline & Strategy: Expected 2028 completion, supporting NGL exports & global energy demand growth.
Capital Deployment: $1B investment planned for 2025, following a record $800M deployed in 2024.
Transaction Growth: 220+ deals evaluated, 29 closed in 2024, compared to 19 transactions, $600M deployed in 2023.
Operational Scale: USEDC manages 2,000+ wells, with a history of $2B+ invested across 4,000 wells.
Permian Strategy: Focus on cost efficiency & high-return oil & gas projects amid stable energy market conditions.
Acquisition Details: Viper to acquire 23,100 net royalty acres from Diamondback ($1B) & Morita Ranches ($211M), boosting Permian footprint.
Production Growth: Expected oil output 47,000–49,000 bo/d post-closure in Q2 2025, up from Q1 guidance of 30,000–31,000 bo/d.
Transaction Structure: Payment via $1B cash + 69.6M OpCo units for Diamondback, $211M cash + 2.4M OpCo units for Morita.
Future Development: Diamondback to operate 70%+ of acquired assets, with plans for 300-325 new completions by 2026.
Ovintiv Closes $2.3B Montney Asset Deal with Paramount Resources
Acquisition Value: $2.307B deal adding 70,000 boe/d & 900 premium well locations.
OPAL Fuels Names Kazi Hasan as CFO
Executive Appointment: Hasan succeeds Scott Contino as CFO on Feb. 3, 2025.
ArcLight Acquires 25% Stake in Gulf Coast Express Pipeline for $865M
Pipeline Overview: 500-mile natural gas pipeline, 2 Bcf/d capacity, vital for Permian-Gulf Coast exports.
Talos Energy Names Paul Goodfellow as New CEO
Leadership Transition: Goodfellow to take over as CEO & Board Member on March 1, 2025.
Diamondback Energy Appoints Darin G. Holderness to Board
Board Expansion: Holderness is the 4th director from the Endeavor merger, effective Feb. 3, 2025.
Crescent Energy Closes $905M Central Eagle Ford Acquisition
Transaction Details: $830M cash, 5.45M shares, plus contingent oil price payments.
Baker Hughes & Hanwha to Develop Small Ammonia Turbines for Marine & Industrial Use
Technology Scope: 100% ammonia combustion dual-fuel turbines for marine, onshore, offshore, and electric generation.
Liberty Energy Appoints Ron Gusek as CEO Following Chris Wright’s Exit
Leadership Change: Ron Gusek, President since 2016, named CEO, succeeding Chris Wright, who joins the U.S. Dept. of Energy.
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.
