Green Markets - December 20, 2024

Dec 20, 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 launched the application process for its $1.8 billion funding to support the commercial scale-up of direct air capture (DAC) technology. The funds will back projects in various stages of development and contribute to the creation of four regional DAC hubs across the U.S. The funding is divided into three categories: Infrastructure Access Platforms (up to $250M per project), Mid-Scale Commercial DAC Facilities (up to $50M), and Large-Scale Commercial DAC Facilities (up to $600M). Applications are due by July 2025, with awards to be announced by December 2025.

Related Stock List(s): Carbon Capture Stocks

Shell has replaced Petronas as a partner in YPF's Argentina LNG project, which aims to liquefy gas from Vaca Muerta for global export. The project, located in Río Negro, is expected to reach a liquefaction capacity of 10 million tons per year in its first phase. YPF and Shell have signed an agreement to advance the project, which is part of YPF's broader $10 billion 10-year plan, including gas production, transportation, and a liquefaction terminal in Sierra Grande.
The European Commission has approved €4.06 billion ($4.2 billion) in German subsidies for the operation of four floating LNG terminals managed by Deutsche Energy Terminal on Germany's North Sea coast. These Floating Storage and Regasification Units (FSRUs) were chartered during the 2022 energy crisis to reduce dependency on Russian gas and diversify energy supplies. The subsidies will offset losses incurred due to high charter costs during the crisis. The terminals serve as a temporary measure until permanent onshore LNG facilities are completed, with Germany committing to sublet the FSRUs if replacements are finished earlier than planned.

Related Stock List(s): LNG Stocks

Polskie Elektrownie Jądrowe (PEJ), Poland's nuclear utility, has secured letters of intent (LOIs) from financial institutions, including France's Bpifrance Assurance Export, Sfil, Export Development Canada, and the US International Development Finance Corporation, for over PLN95 billion ($23.75 billion) in funding for Poland's first nuclear power plant. The plant, located in Lubiatowo-Kopalino, will use Westinghouse AP1000 reactor technology.

Qcells has secured a $1.45 billion loan guarantee from the U.S. Department of Energy (DOE) to support its solar panel manufacturing facility in Cartersville, Georgia. The facility, which began some production in spring 2024, will produce 3.3 GW of solar panels annually.

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