French energy giant TotalEnergies announced today that it has divested its distributed solar generation activities in Europe, selling all of its distributed solar assets in 7 countries to renewable energy companies Amarenco and AMPYR Distributed Energy. In a statement announcing the sale, TotalEnergies said that the transactions will enable it to refocus its renewable development on large utility-scale solar and…
Guest post by: Bridget Wise, Sustainability Analyst, Secaro Although the SBTi’s V2.0 standard is more complicated than its predecessor, it is this complexity, the guardrails of integrity criteria – which allow for a more practical and flexible approach. And, as many companies struggled to meet goals under the V.1 standard despite best efforts, it was critical for the SBTi to…
Geothermal energy technology company Quaise Energy announced that it has raised $134 million at the first close of a Series B funding round, with proceeds aimed at supporting the development of the world’s first commercial superhot geothermal power plant. Founded in 2018 as a spinout from the Massachusetts Institute of Technology, Cambridge-based Quaise develops solutions aimed at harnessing superhot geothermal…
TenneT Germany, the largest electricity transmission system operator in Germany, announced that it has raised €3.5 billion in its inaugural green bond offering, marking the largest corporate issuance to date under the EU’s European Green Bond (EuGB) standard. TenneT noted strong demand for the offering, with the issuance more than 6x oversubscribed. The issuance included four tranches, with maturities of…
Energy transition-focused investor Quinbrook Infrastructure Partners announced today the final close of its Quinbrook Renewables Impact Fund II (QRIF II), raising £587 million (USD$784 million) in commitments for the UK-focused renewables infrastructure strategy, well ahead of the fund’s £500 million target. According to Quinbrook, QRIF II targets investments in renewable energy and storage that advance decarbonization, improve security of energy…
Singapore-based nature-based solutions project developer Thryve.Earth announced that it has signed a series of long-term offtake deals with Google, McKinsey and Tencent to remove more than 635,000 tonnes of carbon through a new agroforestry project restoring 6,000 hectares of degraded land in Indonesia. The agreements mark the largest carbon removal commitment to date for Google, and Tencent’s first nature-based offtake…
Africa-focused climate technology venture capital firm Catalyst Fund announced the launch of Catalyst Climate Resilience Fund I, raising $30 million at the fund’s second close to invest in early-stage climate technology startups. Launched in 2016, Nairobi-based Catalyst Fund is an early-stage venture capital fund and venture builder that invests in climate resilience and adaptation startups across Africa. The firm invests…
The European Central Bank (ECB) revealed that it has started the application of a new “climate factor” in its collateral framework, enabling the central bank to adjust the assigned value of assets pledged by banks as collateral for loans based on their exposure to climate transition risks. The rollout follows announced plans for the climate factor by the ECB last…