Green Markets - August 14, 2024

Aug 14, 2024

Green Markets is a daily series dedicated to highlighting events of interest that could impact investments within environmental markets.

The U.S. Department of Energy (DOE) has finalized a regulation on cooking appliances, including gas stoves, and plans to implement it by 2028 despite significant pushback from conservative groups. Critics, including Republican attorneys general and various think tanks, have argued that the rule constitutes federal overreach and could raise consumer costs.

The Wasatch Integrated Waste Management District has chosen Ameresco to build a renewable natural gas (RNG) plant at the Davis Landfill in Layton, Utah. This plant will capture methane from landfill gas and convert it into RNG, which is expected to replace over 8 MMBtu of fossil fuels annually.

Occidental Petroleum's Stratos direct air capture facility in Texas is set to launch in the summer of 2025. It aims to capture 500,000 metric tons of CO2 annually. The facility, using Carbon Engineering's technology, is one of the largest DAC projects globally and has attracted significant interest, including a major deal with Microsoft for carbon removal credits.

Related Stock List(s): Carbon Capture Stocks

Renoster, a carbon project rating agency, has released a new paper detailing recommendations for how the VCMs should evolve. The paper specifically focused on Verra, as it controls over 70% of the markets. Proposed reforms include stricter verification processes, improved community involvement, updated methodologies, and increased transparency. These changes aim to enhance the credibility and effectiveness of carbon credits, ensuring they meet their intended environmental and social goals.

Related Stock List(s): Carbon Credit Stocks

Amazon has committed £300 million to enhance sustainable deliveries in the UK through the establishment of micro-mobility hubs in cities like London and Manchester, utilizing electric cargo bikes and foot couriers. This investment is part of a broader €1 billion plan to decarbonize Amazon’s transportation network across Europe, aiming to achieve net-zero carbon emissions by 2040. Additionally, Amazon is advancing its renewable energy initiatives in the UK, with 29 operational solar projects and seven large-scale offsite projects.

SUSI Partners has committed to investing in an 860 MW battery energy storage system (BESS) portfolio in Chile. The investment, made through the SUSI Energy Transition Fund, will support 22 BESS projects developed by BIWO Renewables, providing up to 3.5 GWh of storage capacity.
Atlas Renewable Energy has secured $289 million in financing from BNP Paribas and Crédit Agricole for the BESS del Desierto project. This includes a $219 million senior loan and $70 million in credit lines for a project with a 200 MW capacity and 800 MWh storage.

Hexagon Purus has signed a multi-year supply agreement with GILLIG to provide hydrogen fuel storage systems for GILLIG’s new fuel cell electric buses in the U.S. This partnership supports GILLIG’s push for sustainable public transportation and aligns with Hexagon Purus' strong market position in zero-emission mobility.

Related Stock List(s): Hydrogen Stocks

Greece's second LNG terminal near Alexandroupolis will begin operations on October 1, 2024, after a six-month delay. The terminal is part of a joint project between Greece and Bulgaria. A technical issue with the pipeline has been resolved without added costs, and suppliers are required to declare their cargo allocations by mid-August.
India's Swan Energy plans to sell its 51% stake in the floating LNG terminal Vasant 1 to Turkey’s state-run Botas for $399 million. The deal is expected to be completed in six months. The floating storage and regasification unit (FSRU) was initially intended for India's Jafrabad port but faced delays.

Related Stock List(s): LNG Stocks

Uranium Energy has restarted uranium production at its Christensen Ranch mine in Wyoming, with shipments expected by late 2024. This move comes amid rising uranium prices and a push to enhance domestic uranium supply, as the U.S. seeks to reduce reliance on foreign sources like Russia.

SUEZ Recycling and Recovery UK has announced partnerships with Fluor and Technip Energies to develop carbon capture and storage technologies at its energy-from-waste facilities in Teesside. The project will integrate carbon capture at the Haverton Hill and Wilton sites, with captured carbon transported via a newly funded pipeline to offshore storage beneath the North Sea.

Related Stock List(s): Recycling Stocks

Poland has launched a €5 billion loan program to accelerate offshore wind development in the Baltic Sea, supported by EU recovery funds. The program targets projects with a minimum capacity of 300 MW, contributing to Poland’s goal of achieving 5.9 GW of offshore wind capacity by 2030. Strategic partnerships with major players like PGE, Orsted, Orlen, and Northland Power will drive these developments.

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