Green Markets - December 30, 2024
News in environmental markets.
Green Markets is a daily series dedicated to highlighting events of interest that could impact investments within environmental markets.
Battery Metals
Iran plans to invest $10 billion in developing its copper industry, focusing on seven major projects led by the National Iranian Copper Industries Company (NICICO). This initiative, under IMIDRO's guidance, aims to boost mining sector growth by 13% in line with the Seventh National Development Plan.
Related Stock List(s): Commodity Trust Stocks, Commodity Royalty Stocks
Biofuels/Chemicals
LanzaTech and Technip Energies secured $200 million in funding from the U.S. Department of Energy for Project SECURE, an innovative initiative to produce sustainable ethylene from captured CO2 and low-carbon hydrogen. The first phase includes $20 million for Front-End Engineering Design (FEED) and environmental reviews, with the potential for global scalability.
Related Stock List(s): Biofuels & Chemicals Stocks
Energy Efficiency
Dubai Electricity and Water Authority (DEWA) is set to invest AED 7 billion ($1.9 billion) in a smart grid initiative by 2035. Leveraging technologies like AI and IoT, the smart grid will enhance the reliability, efficiency, and sustainability of electricity and water services.
Related Stock List(s): Energy Efficiency Stocks
Renewable Energy
Enlight Renewable Energy has secured $550 million in financing for its 290MWdc/940MWh Roadrunner solar-plus-storage project near Tucson, Arizona, set to achieve commercial operation by late 2025. The project includes a 20-year PPA with Arizona Electric Power Cooperative (AEPCO) and is expected to generate $51-54 million in annual revenue.
The European Investment Bank (EIB) and Iberdrola have signed a €100 million green loan agreement, backed by SACE's Archimede Guarantee, to build a 242.78 MW photovoltaic plant in Sicily, Italy. The plant is scheduled to become operational in 2025.