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TotalEnergies invests $100mm in sustainable forestry with Anew and Aurora
Black & Veatch to identify carbon capture opportunities in Vietnam
CarbonCapture pauses Project Bison DAC development in Wyoming
TotalEnergies to invest $444mm in 1 GW solar JV with Adani Green
Enfinity Global secures €190 mm financing for 157 MW solar in Italy
CLEAResult announces majority investment by Kohlberg & Company
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TotalEnergies has signed a $100 million agreement with Anew Climate and Aurora Sustainable Lands to support sustainable forestry operations in the U.S.
The investment aims to protect forests from heavy timber harvesting, promote sustainable management practices, and enhance carbon storage.
This initiative encompasses 20 carbon projects over 300,000 hectares across 10 states in the U.S.
The project is expected to preserve carbon sinks, improve water and soil quality, protect biodiversity, and conserve natural habitats.
TotalEnergies will acquire and retire carbon credits generated from these projects beyond 2030, using them to offset part of its Scope 1 and 2 emissions.
TotalEnergies plans to invest $100 million annually to generate at least 5 million metric tons of carbon credits per year by 2030 and offset emissions thereafter.
The Iowa Utilities Commission has issued a pipeline permit to Summit Carbon Solutions.
The permit follows the IUC's June 25, 2024, order regarding the company's application for a hazardous liquid pipeline permit.
The IUC had required Summit Carbon to make several compliance filings as part of its final decision on June 25, 2024.
On August 5, 2024, Summit Carbon submitted the necessary compliance filings, including revised petition exhibits.
Black & Veatch is assessing carbon capture, utilization and storage technology in Vietnam's coal-fired power plants to reduce emissions.
The Vietnam Petroleum Institute commissioned Black & Veatch to study three plants owned by Petrovietnam, each with a capacity of 2 x 600 megawatts.
This represents the first carbon capture study on coal plants in Vietnam, aimed at aiding the national CCUS roadmap and legal framework.
The study will evaluate the feasibility of current carbon capture technologies for flue gas at these plants.
Dutch direct air capture startup Carbyon has secured a €15.3 million investment.
Carbyon developed a patented 'fast swing' technology to capture CO2 directly from the atmosphere.
This technology significantly reduces unit, energy, and project costs for large-scale deployment.
The Series A financing round raises Carbyon's total investments to over €25 million.
The funding will support the development of engineering-scale demonstrators and commercial pilot testing.
Three new investors have joined Carbyon: Siemens Financial Services, Omnes Capital, and Global Cleantech Capital.
Project Bison's development has been paused, and its deployment is being relocated outside Wyoming for quicker progress.
Competition for clean power among rapidly emerging industries has posed challenges, particularly in Wyoming.
CarbonCapture aims to deploy its technology in locations with affordable clean energy and established carbon transport infrastructure.
The full-scale commercial Leo Series modules have been launched, with module production starting in Q4 of this year.
CarbonCapture appreciates the support from partners, including Frontier Carbon Solutions, in Wyoming and acknowledges their commitment to clean energy initiatives.
The U.S. Department of Energy announced nearly $62 million for 20 projects across 15 states to advance clean hydrogen technologies.
The projects aim to enhance hydrogen fueling infrastructure and improve hydrogen-powered equipment for ports.
The investments are part of the U.S. National Clean Hydrogen Strategy and Roadmap to create jobs and address climate change.
TotalEnergies and Adani Green Energy Limited have formed a joint venture with a 1,150 MWac solar portfolio in Gujarat, India.
This initiative allows TotalEnergies to leverage the liberalization of the Indian electricity market.
The partnership strengthens TotalEnergies’ alliance with AGEL, which aims for 50 GW of renewable capacity by 2030.
AGEL currently operates over 11 GW of solar and wind capacity in India.
TotalEnergies will invest $444 million to support the joint venture's development.
AGEL is developing the world’s largest renewable energy site in Khavda, spanning over 538 km², with a total capacity of 30 GW.
Khavda is expected to provide enough power for approximately 16 million homes in India once completed.
TotalEnergies aims for net-zero emissions by 2050 and plans to expand its renewable electricity generation capacity to over 100 TWh by 2030.
Enfinity Global Inc has closed €189.6 million in financing for eight utility-scale solar power plants in Italy with a total capacity of 157.1 MW.
The solar power plants are located in the regions of Lazio and Emilia Romagna and are expected to become operational in 2025.
The funding includes €127.4 million of non-recourse senior debt, €17.1 million of VAT financing, and €45.1 million in LC facilities for Power Purchase Agreements, photovoltaic modules, and dismantling.
The energy produced will be sold through long-term Power Purchase Agreements signed with A2A, Nova Aeg, and another significant Italian industrial customer.
This portfolio will generate 271 GWh of clean electricity annually, enough to power 100,000 homes and reduce CO2 emissions by 122,000 tons.
Enfinity is the leading independent power producer in Italy with 805 MW of permitted projects and the largest solar PPA seller in the country with 388 MW signed and under construction.
Canadian Solar Inc. has formed a partnership with SOLARCYCLE, a leading solar recycling company.
SOLARCYCLE will act as the preferred recycling partner, while Canadian Solar will offer upfront recycling services as an OEM partner.
The partnership is focused on promoting solar recycling and underscores the commitment of both companies to advance this practice in the U.S.
The recycling process will focus on valuable materials such as silver, copper, glass, and aluminum, diverting resources from landfills into the solar supply chain.
CLEAResult, the largest provider of energy efficiency services in North America, has announced a majority investment from Kohlberg & Company.
The investment was acquired from TPG Growth, with CLEAResult's management and employee shareholders retaining a minority stake.
CLEAResult, headquartered in Austin, Texas, works with various sectors to implement energy efficiency programs that lower energy usage and emissions.
The company has over 2,700 employees across more than 60 cities in the U.S. and Canada.
The partnership aims to leverage opportunities from the Inflation Reduction Act to reduce costs and emissions, enhancing grid reliability.
Weatherford International plc announced the acquisition of Datagration Solutions Inc.
Datagration is recognized for its innovations in unified data integration, analytics, and machine learning.
The acquisition enhances Weatherford's digital offerings for production and asset optimization.
The merger improves synergy with Weatherford's existing platforms such as ForeSite, CygNet, and CENTRO.
It enhances operating efficiencies and allows for better emissions data integration and sustainability management.
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.
