Chestnut Carbon, a nature-based carbon removal developer, has announced the successful closing of a landmark non-recourse project finance credit facility of up to $210m – a first-of-its-kind bank financing for a US voluntary carbon removal afforestation project.
Category: Energy
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$2.5m for blue carbon project in Sierra Leone
FSD Africa Investments (FSDAi) is investing $2.5m in West Africa Blue’s blue carbon project in Sierra Leone’s Sherbro River Estuary. FSDAi’s investment will contribute to the conservation and restoration of approximately 94,000 hectares of mangrove ecosystems across 11 chiefdoms.
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Clean energy projects – on the map in the UK
A map showing clean energy projects supported by government has been published by the UK’s Department for Energy Security and Net Zero. It supports the government’s clean energy mission to deliver clean power by 2030 and accelerate progress towards net zero. This map includes projects being supported by the National Wealth Fund and Great British Energy.
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India says it’s leading – not following – the energy transition
Shri Pralhad Joshi, Union Minister, New and Renewable Energy, said that this is not just an energy transition for India; it’s a global reset. Speaking at the inaugural Indian Venture and Alternate Capital Association’s Renewable Energy Summit, he said that India is leading the way and has already surpassed 44% non-fossil fuel capacity, achieving its 2030 target five years ahead of schedule.
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Ørsted secures project financing for Taiwan wind farm
Ørsted has reached financial close on a project finance package with 25 banks and five Export Credit Agencies (ECAs) to raise approximately TWD90bn (about DKK20bn) for the 632MW offshore wind farm Greater Changhua 2. This is part of the financing structure for the project, on which Ørsted simultaneously is progressing as planned with an equity divestment expected to be completed once the project is operational. The transaction ensures further progress on both Ørsted’s partnership and divestment programme and its strategic priorities.
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China’s solar and wind projects reach new heights
China is adding solar and wind power at record rates, and the emergence of offshore wind is causing it to cut fossil fuel emissions along its industrial coastline. This is according to a report from ‘Global Energy Monitor’ (GEM). China is building 510 gigawatts (GW) of utility-scale solar and wind capacity, an increase of 57% over the previous year, and three-quarters of all such capacity under construction globally.
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Green light for UK wind after nine-year lull
The UK Government has published its onshore wind strategy as part of mission to become a clean energy superpower. This comes after a nine-year de facto ban. The new strategy sets out over 40 actions to get onshore wind building again across the UK.
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Profitable growth for marketing – without fossil fuels
Campaign group Clean Creatives has put forward a way for the marketing industry to exit fossil fuel relationships while taking up the opportunities available to them from emerging high-growth industries such as renewables, the circular economy and healthcare.
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£833m net zero Teesside contract for UK’s Balfour Beatty
Balfour Beatty, the international infrastructure group, has announced that it has been awarded an £833m contract by Technip Energies to act as the construction partner for Net Zero Teesside Power – an onshore power, capture and compression project and poised to be the world’s first gas-fired power station with carbon capture and storage.
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UK to become sustainable finance capital of the world
The UK Energy Secretary, Ed Miliband, has outlined plans to support banks and large companies in developing climate transition plans. To date, about 70% of FTSE 100 companies have voluntarily developed many of the key elements of a transition plan. The UK Government says that widespread transition planning will help provide long-term certainty and clarity to help scale the sustainable finance industry.
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UK Gov announces new era of clean energy transformation
Hot on the heels of the UK Government’s commitment to the most significant programme of investment in homegrown clean energy in the UK’s history, Secretary of State for Energy Security and Net Zero, Ed Miliband, has talked through what energy transformation means for the UK in coming years.
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£86bn boost to science and tech to turbocharge UK economy
UK Chancellor Rachel Reeves will announce a transformative £86bn in the Spending Review to turbo-charge the country's fastest growing sectors, from tech and life sciences, to advanced manufacturing and defence, as part of the the UK Government’s plan to invest in Britain’s renewal through its Modern Industrial Strategy.
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IEA publishes Global Critical Minerals Outlook 2025
The International Energy Agency (IEA) has published its Critical Minerals Outlook 2025. It points out that critical minerals, which are essential for a range of energy technologies and for the broader economy, have become a major focus in global policy and trade discussions. Price volatility, supply chain bottlenecks and geopolitical concerns make the regular monitoring of their supply and demand vital.
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Uzbekistan to modernise irrigation infra with World Bank support
The World Bank has approved a $200m concessional credit to support Uzbekistan in modernising its irrigation and drainage infrastructure and improving the quality of irrigation service delivery. The project aims to reduce water losses and increase the energy efficiency of irrigation systems across five regions of the country. The Government of Uzbekistan will provide $23.2m in co-financing.
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FRV Australia and Genesis commission huge NZ solar farms
Fotowatio Renewable Ventures (FRV) Australia, a developer of sustainable energy solutions, and the Canadian infrastructure fund OMERS have announced the commissioning of the Lauriston Solar Farm, in partnership with Genesis Energy.