Green Markets - December 9, 2024

Dec 10, 2024

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

A Morocco-UAE joint venture is preparing to launch phase one of a green hydrogen and ammonia project in Dakhla, a city in the Moroccan-controlled part of Western Sahara. This project is part of a larger planned investment of approximately $25.5 billion in the disputed region.

French nuclear group Orano has announced the creation of two joint ventures with China's XTC New Energy Materials to produce EV battery components in Dunkirk, France. The project will involve the construction of plants for producing Cathode Active Materials (CAM) and Precursor Cathode Active Materials (PCAM). The investment is set to be valued at €1.5 billion.

The U.S. Department of Energy has awarded up to $2.2 billion to centers in the Gulf Coast and Midwest to accelerate the development of clean hydrogen. This funding, part of the 2021 bipartisan infrastructure law, aims to produce low-carbon hydrogen using renewable energy, natural gas with carbon capture, and nuclear power.
Italgas plans to invest €1 billion in Greece from 2024 to 2030. The investment, managed through its subsidiary Enaon, will focus on four key areas:
- Expanding gas distribution to underserved areas.
- Replacing polluting fuels like lignite and coal.
- Upgrading the network with "H2 ready" smart meters.
- Developing renewable gases such as biomethane and green hydrogen.

Related Stock List(s): Hydrogen Stocks

Unit 2 of the Shimane nuclear power plant in Japan was restarted on December 7th, 2024, after being offline for 13 years. The 789 MWe boiling water reactor (BWR) received regulatory approval to resume operations in 2021 and completed the local approval process in 2022. Commercial operations are expected to begin in January 2025.
Serbia has officially lifted its 35-year ban on nuclear power by adopting amendments to its Energy Law, marking a significant shift in the country’s energy policy. The decision opens the door for the development of nuclear energy. Serbia is exploring nuclear energy options, including collaborating with neighboring countries and companies, such as France's EDF, to determine the most suitable technologies for its energy needs. Additionally, Serbia's president, Aleksandar Vučić, has suggested the possibility of the country acquiring a stake in Hungary's Paks nuclear power plant.

Gentari has signed a power purchase agreement with AM Green Ammonia India Private for 650 MW of green energy to support the latter's green ammonia facilities. Gentari will establish 2,400 MW of renewable energy capacity, integrated with 350 MW of energy storage. AMG Ammonia's goal is to produce 5 million tonnes of green ammonia annually by 2030, contributing to India’s and Europe’s green hydrogen targets.
Green & Clean Power (GCP) has secured $300 million in financing to build a 500-acre solar energy generation and battery storage facility in Arkansas. The project, expected to be completed by autumn 2025, will supply renewable energy directly to Hybar, GCP's sister company, which is constructing a steel rebar mill.
BP and JERA have launched JERA Nex BP, a joint venture focused on offshore wind energy, combining their assets to create a company with a total potential capacity of 13 GW. The venture will receive up to $5.8 billion in capital funding by 2030 and aims to become one of the largest global offshore wind developers.
Brookfield Renewable is issuing C$200 million in green bonds to fund its ESG projects. The bonds, due in 2055, feature a fixed-to-fixed reset rate and will support initiatives like renewable energy development, carbon capture, and sustainability efforts. The company continues to expand its global renewable energy portfolio, which includes hydroelectric, wind, solar, and emerging sustainable technologies.

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