My debt is green

Google signs PPA for 189 MW of wind from Apex Clean Energy

• Apex Clean Energy and Google collaborate on a power purchase agreement for Timbermill Wind in North Carolina.

• Timbermill Wind will have a capacity of 189 MW and support Google’s 24/7 carbon-free energy goal.

• The power purchase agreement will contribute to Google’s clean energy needs for its data centers on the PJM grid.

• Google has matched its annual electricity consumption with 100% renewable energy since 2017.

• Apex’s Timbermill Wind project addresses challenges of advancing wind power in a challenging grid region.

• The collaboration aligns with Google’s goal for its data centers to run on clean electricity every hour of every day.

• Timbermill Wind offers environmental benefits and around $190,000 for conservation efforts.

CIM Group raises $417 million for its RNG platform

• CIM Group created Terreva Renewables, a renewable natural gas (RNG) portfolio company, one year ago.

• Terreva Renewables acquired 100% of RNG development platform from MAS CanAm, LLC.

• CIM Group has achieved significant growth and secured $417 million in new investment for the RNG platform.

• Terreva has constructed and operates multiple RNG facilities, meeting the rising demand for RNG in decarbonization across transport, utilities, and industry.

• Terreva completed its first RNG facility in Appleton, Wisconsin, with additional operations in Pennsylvania, Illinois, and Virginia.

• These facilities convert landfill methane gas into RNG, primarily used for large vehicle fleets.

• Terreva’s operations are estimated to reduce carbon emissions equivalent to taking 21,600 cars off the road annually or displacing over 11.2 million gallons of gasoline.

• CIM Group observes strong regulatory and market support for RNG in transportation and thermal sectors.

• Terreva has contracts with natural gas utilities and engages with transportation-related customers, investment-grade utilities, and institutional offtakers.

• Terreva’s growth strategy involves partnering with landfill owners, developing new RNG facilities, and selectively acquiring RNG projects.

• Experienced management team from former MAS Energy executives leads the effort, making key hires to support growth.

Sempra partners with Japanese consortium for low-carbon gas and LNG

• Sempra Infrastructure partners with Japanese consortium (Tokyo Gas, Osaka Gas, Toho Gas, Mitsubishi Corporation) for carbon-neutral gas production and LNG supply chain.

• Proposed project aims to produce e-natural gas from renewable hydrogen and carbon dioxide in the U.S. Gulf Coast.

• Project could establish first international supply chain of liquefied e-natural gas.

• Consortium includes leading Japanese gas utilities and Mitsubishi Corporation, conducting preliminary feasibility work since 2022.

• Sempra Infrastructure’s involvement supports global energy transition through liquified e-natural gas market.

• Project envisions using existing natural gas infrastructure and distribution systems for carbon-neutral fuel delivery.

• Anticipated annual production of 130,000 tonnes of e-natural gas, liquified at Cameron LNG terminal and exported to Japan as e-methane.

• Green hydrogen production and e-natural gas facilities included in the project plans.

• Aligns with U.S. Department of Energy and Japan’s Ministry of Economy, Trade and Industry’s goals for carbon capture and utilization.

• Success depends on commercial agreements, permits, financing, and final investment decision.

   

DT Midstream completes phase 1 LEAP expansion

• DT Midstream, Inc. (NYSE: DTM) completes Phase 1 of LEAP expansion ahead of schedule.

• Capacity increased from 1.0 Bcf/d to 1.3 Bcf/d.

• Original Q4 2023 in-service date achieved on budget.

• LEAP’s phase 2 and phase 3 expansions to be operational by Q1 2024 and Q3 2024 respectively.

• Total LEAP capacity to reach 1.9 Bcf/d, expandable to 3 Bcf/d in the future.

• LEAP connects Haynesville production to growing Gulf Coast markets.

• Anticipated 8+ Bcf/d growth in domestic and international LNG markets by 2030.

• Customers on LEAP gain access to existing and upcoming LNG terminals like Sabine Pass, Cameron, Calcasieu Pass, Plaquemines, and Golden Pass.

• Interconnections established with Creole Trail, Cameron Interstate Pipeline, Texas Eastern, and Transco.

• David Slater, President and CEO, highlights LEAP’s role in providing wellhead-to-water access for LNG markets amid energy security concerns.

Mizuho issues €750 million green bond

• Mizuho Financial Group, Inc. issued a green bond for EUR 750 million

• The new medium-term business plan starting from FY2023 focuses on personal well-being and achieving a sustainable society and economy.

• The plan uses backcasting to set a 10-year vision, with climate change response being a key theme under Sustainability & Innovation.

• Mizuho aims to contribute to a low-carbon society by supporting economic transformation, next-gen technologies, and providing necessary financing.

• Sustainable finance target is increased to JPY 100 trillion, including JPY 50 trillion for environment and climate change-related finance.

• The green bond is part of these efforts, attracting environmentally-conscious investors’ interest.

• The bond framework aligns with the International Capital Market Association’s Green Bond Principles 2021 and is certified by Sustainalytics.

• Funds from the green bond will be channeled to subsidiary Mizuho Bank, Ltd. for eco-friendly projects, especially renewable energy.

• Mizuho focuses on realizing a sustainable society through finance, solutions, and leveraging knowledge beyond financial aspects.

Streamline increases loan commitment from Riverstone

• Streamline Innovations, leader in emissions solutions, increases Green Loan commitment from Riverstone Credit Partners to support growth.

• Additional funding to expand lease fleet of VALKYRIE® hydrogen sulfide (H2S) treatment plants.

• Expansion focuses on Oil and Gas, Renewable Natural Gas (RNG), and Carbon Capture Utilization & Storage (CCUS) markets.

• VALKYRIE technology converts toxic H2S into elemental sulfur, environmentally friendly and reusable.

• New VALKYRIE ECO and VALKYRIE ECO FLEX solutions cater to agricultural biogas (RNG) and Landfill Gas (LFG) producers.

• Solutions handle variable gas flow rates, aiding in upgrading biogas to pipeline quality RNG.

• Previous ESG rating recognized Term Loan as a Green Loan, aligned with LSTA Green Loan Principles.

• Streamline’s solutions support industry movement towards sustainability and cleaner future.

• Funding expansion validates environmentally friendly technology and potential across multiple markets.

• Over 40 H2S treating units already deployed, strong growth achieved.

• Investment supports Streamline’s commitment to delivering environmental sustainability benefits to customers.

LEGO makes sustainability pledge

• Pledge: The LEGO Group pledges to achieve net-zero greenhouse gas (GHG) emissions by 2050.

• Metrics:

  • Scope 1, 2, and 3 emissions will be covered by the net-zero target.

  • Scope 1 emissions are direct emissions from owned or controlled sources.

  • Scope 2 emissions are indirect emissions from purchased energy.

  • Scope 3 emissions are all other indirect emissions, such as those from the transportation of goods or the use of sold products.

• Timeline: The LEGO Group will work with the Science Based Targets initiative (SBTi) to develop the net-zero target over the next two years.

• Investments: The LEGO Group plans to triple its investment in environmental sustainability over the next three years, spending more than $1.4 billion on sustainability-related activities.

• Initiatives:

  • Designing buildings and sites to be carbon neutral run.

  • Increasing capacity and production of renewable energy at its sites.

  • Taking CO2 emissions into account across all business decisions.

  • Joining forces with suppliers to collectively reduce environmental impact.

  • Exploring compensation actions, such as supporting carbon capture programmes.

  • Scaling up a mass balance approach to reduce reliance on fossil fuels as a raw material.

• Goal: The LEGO Group’s goal is to measurably reduce its carbon emissions and take steps across all areas of its business to reduce its environmental impact.

DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.