Global alternative investment manager Apollo announced an agreement to acquire a 50% stake in one of the world’s largest offshore wind farms, the UK’s Hornsea 3, from energy developer Ørsted, with Apollo committing to invest $6.5 billion to fund the transaction and half of the project’s remaining construction costs. Located 160 km off the coast of Northern England, Hornsea 3…
Sustainability software and advisory company Position Green announced today the acquisition of supply chain transparency and human rights due diligence solutions provider Factlines. The transaction marks the latest in a series of acquisitions by Position Green, forming part of its efforts to establish a comprehensive sustainability platform. In September, Position Green announced the acquisition of ESG reporting and compliance solutions…
AI infrastructure provider Crusoe and modular nuclear power plant company Blue Energy announced the launch of a new partnership aimed at developing and operating a 1.5 GW nuclear-powered data center campus at the Port of Victoria in South Texas. In order to support the rapid buildout of the campus, the new project will see Blue Energy deliver the world’s first…
The GAIA Climate Loan Fund, co-founded by MUFG Bank, FinDev Canada and the Green Climate Fund, announced that it has raised $600 million in commitments at its first close, with proceeds to be used to fund loans primarily for climate adaptation projects in climate-vulnerable markets. The new fund is managed by climate-focused blended finance investment manager Climate Fund Managers (CFM)…
Heineken, energy producer EDP and industrial heat solutions provider Rondo Energy announced a new “Heat-as-a-Service” agreement, which will see the companies install a renewable energy-powered heat battery to help decarbonize Heineken’s Vialonga Brewery and Malting Plant near Lisbon. Founded in 2020, California-based Rondo Energy provides solutions to address emissions from industrial heat processes. Industrial heating uses high amounts of energy,…
The European Commission today announced the selection of 61 net zero-focused technology projects to receive €2.9 billion (USD$3.3 billion) of funding, utilizing funds raised through its EU Emissions Trading System (EU ETS). According to the Commission, the new projects, spanning 19 industrial sectors and 18 countries, will enable 221 million tonnes of CO2e reduction in just their first decade of…
State Street Investment Management, one of the world’s largest investment managers, announced a significant change in its signatory status with climate-focused investment coalition the Net Zero Asset Managers (NZAM) initiative, pulling out its U.S. business from the group, with only its Europe and UK businesses remaining. The move by State Street highlights the growing challenge facing global asset managers in dealing…