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MHI Hydrogen Infrastructure Advances Pacific Northwest Hydrogen Hub
Verde Clean Fuels Receives $50M Investment from Cottonmouth Ventures
Technip Energies and LanzaTech Secure DOE Funding for CO₂-to-Ethylene Technology
Google and Copenhagen Infrastructure Partners Sign PPA in The Netherlands
Vistra Connects Solar Facilities and Extends Baldwin Power Plant Operations
Origis Energy and MUFG Bring Renewable Energy Project Financing Over $1B in 12 Months
rPlus Energies Closes $304M Financing for Solar and Corporate Credit
Convergent Energy Receives DOE Commitment for Puerto Rico Solar and Storage Projects
Commonwealth Fusion Systems to Build Commercial Fusion Power Plant
X-energy Selects Contractor for $40.8M Nuclear Fuel Facility Development
Oklo and Switch Partner for 12 GW Advanced Nuclear Deployment
Brigham Exploration Acquires Great Western Drilling Ltd.'s Non-Operated Assets
ZENRG Secures Series A Funding to Drive Emission Reduction in Energy Industry
The almost headlines
Report of the week
In case you missed
Agreement: Partnership with Pacific Northwest Hydrogen Association for clean hydrogen development.
Focus: Decarbonization in transport, fertilizer, and power generation across Washington, Oregon, and Montana.
Initiatives: Includes hydrogen electrolysis, turbines, and pipelines to bolster regional energy security.
Equity Deal: Cottonmouth Ventures to acquire 12.5M shares of Verde at $4/share, increasing total investment to $70M.
Strategic Use: Funds to develop natural gas-to-gasoline plants in the Permian Basin and support corporate purposes.
Board Representation: Cottonmouth to appoint one director and one observer to Verde’s board.
Technology Focus: Verde’s syngas-to-gasoline process converts diverse feedstocks into refined liquid fuels.
Funding: Up to $200M from DOE for Project SECURE.
Focus: Recycling CO₂ with low-carbon hydrogen for sustainable ethanol and ethylene.
Deployment: U.S. Gulf Coast region, with replication potential worldwide.
Phase 1: Nearly $20M for Front-End Engineering Design and community engagement.
Agreement Scope: Google signs 250 MW PPA for renewable energy from the 2 GW Zeevonk offshore wind project.
Energy Integration: Includes a 50 MW floating solar farm and large-scale green hydrogen production in Rotterdam.
Timeline: Zeevonk project to become operational in 2029.
Google's Goals: Aligns with Google's 24/7 Carbon-Free Energy target by 2030.
CIP Background: Manages EUR 31B in greenfield renewable investments, with 6.5 GW electrolyser capacity globally.
Project Scope: 135 MWac Prairie Solar project in Illinois, with 50 MWac dedicated to Cambridge.
Impact: 113,000 MWh clean energy annually, avoiding 70,510 metric tons of CO2.
New Additions: Two solar facilities in Illinois totaling 68 MW connected to the grid.
Baldwin Plant: Operations extended to 2027; capacity of 1,185 MW supports reliability in MISO.
Solar Investment: $135M for solar and storage systems at Baldwin; 140,000 MWh of zero-carbon energy annually.
Financing Closed: $533M facility supports 350 MWac solar and 50 MW storage projects in the U.S.
Projects Funded: Optimist Solar + Storage in Mississippi (200 MWac solar, 50 MW storage) and Wheatland Solar in Indiana (150 MWac solar).
Capacity: Projects to power over 100,000 homes annually; completion by 2025-2026.
Cumulative Impact: Over $1B in renewable energy financing between Origis and MUFG in 12 months.
Financing: $179M for Idaho’s Pleasant Valley Solar 2 and $125M corporate credit facility.
Project: Supports Meta’s renewable energy goals and strengthens rPlus’ project pipeline of 15 GW in development.
Project: 100 MWac Amazon Solar Farm Arkansas - Prairie Mist in Ashley County, Arkansas.
Energy Supply: Connected to Entergy’s MISO system under a PPA with Amazon.
Impact: Powers ~22,000 homes annually; $10M in tax benefits for Ashley County.
Financing: $300M secured, led by SMBC, Societe Generale, and PNC Bank.
Partners: Built by Primoris Renewable Energy.
Loan Guarantee: Up to $559.4M from DOE Loan Programs Office.
Projects: 100 MW solar PV with 55 MW/55 MWh storage in Coamo, plus standalone systems in Caguas, Peñuelas, and Ponce.
Goal: Supports Puerto Rico’s 100% clean energy target by 2050.
Company: Convergent operates 800 MW/1 GWh of energy systems powering ~750,000 homes.
Projects: Natural gas (450 MW, Texas), wind (798 MW across Texas and Oklahoma), and solar (Louisiana).
Timeline: Operational between 2024-2028; supports growing capacity needs.
Impact: Enhances reliability for over half a million customers across Arkansas, Louisiana, and Texas.
Project Location: Chesterfield County, Virginia, at the James River Industrial Park.
Fusion Power Plant: ARC facility to generate 400 MW, powering ~150,000 homes.
Timeline: SPARC fusion demo machine operational in 2026; ARC plant delivering grid power by early 2030s.
Project: TRISO-X fuel facility in Oak Ridge, Tennessee.
Completion: Site development phase by July 2025, creating ~100 jobs.
Support: $500M Series C-1 funding and $148M DOE tax credit.
Agreement: 12 GW advanced nuclear power for Switch’s data centers, among largest clean energy deals.
Implementation: Oklo’s Aurora powerhouses to supply renewable energy for AI-driven infrastructure.
Focus: Accelerates decarbonization and meets growing electricity demands.
Transaction Value: $865M pre-tax cash proceeds from the sale of DCP GCX Pipeline LLC to ArcLight Capital Partners.
Pipeline Details: Gulf Coast Express transports ~2 billion cubic feet of natural gas daily over 500 miles from the Permian Basin to Texas' Agua Dulce.
Strategic Goals: Sale supports Phillips 66's $3B asset divestiture target, shareholder returns, and debt reduction.
Post-Sale Ownership: Kinder Morgan and ArcLight affiliates to jointly own Gulf Coast Express Pipeline LLC.
Valuation: Enterprise Value/EBITDA multiple of 10.6x based on 2025 expected EBITDA.
Assets Acquired: Over 7,000 net acres across the Delaware and Midland Basins in Texas and New Mexico, producing 2,700 boe/d from 29 net wells.
Post-Acquisition Production: ~15,500 boe/d from 79 net wells.
Funding: Supported by equity commitments, a new credit facility, and cash on hand.
Transaction: Asset swap with Chevron, including up to $400M cash to Woodside.
Assets Acquired: Chevron’s stakes in North West Shelf Project, NWS Oil Project, and Angel CCS Project.
Assets Transferred: Woodside’s interests in Wheatstone and Julimar-Brunello projects.
Impact: Streamlines LNG focus, boosts near-term cash flow, and supports shareholder distributions.
Reserves: Adds 9.6M barrels of oil equivalent to Woodside’s Proved and Probable Reserves.
Funding: $40M from Breakthrough Energy Catalyst for Deep Sky Alpha project.
Goal: Operational carbon removal and credits by Spring 2025; scalable DAC technology for large-scale removal.
Location: Strategically based in Canada to utilize renewable energy and natural resources.
Investment: Led by EIC Rose Rock, Chevron Technology Ventures, and BP Energy Partners.
Technology: Zero-emission systems for gas and liquid transfers; targets venting and flaring reductions.
Patents: Seven filed to address emissions across energy sectors.
Riley Permian Extends Credit Facility and Increases Borrowing Base
Mojave Secures $9.5M Series A to Scale Energy-Efficient Air Conditioners - $9.5M led by Fifth Wall and At One Ventures
Silfab Solar, Nexamp Announce U.S.-Made Solar Supply Agreement
Rice Partners with Greentown Labs to Advance Innovation in Houston
Check out the latest Sunya Stories podcast with JP Morgan’s Rama Variankaval.
Rama Variankaval is Global Head of Corporate Advisory & Sustainable Solutions at J.P. Morgan. This group combines the capabilities of Corporate Finance Advisory, Center for Carbon Transition, Sustainable Solutions, and Infrastructure Finance Advisory.
We talk energy transition, carbon reduction, and the impact of AI on energy.
This episode is audio-only and you can find it on Spotify or Apple Podcasts as well.
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.
