Climate Investment Newsletter 12/25 - 12/31

Individual Deals and Market Watch

Success feeds cities outside London as Cambridge has become the leading regional tech city in the UK thanks to its combination of high levels of VC funding, venture capital rounds, advertised tech salaries, number of unicorns (tech companies worth more than $1 billion) and futurecorns.

French concessions and construction group Vinci SA (EPA:DG) finalised its purchase of the energy business, including the renewables platform, of ACS Actividades de Construccion y Servicios SA (BME:ACS).

Amp Energy has recently obtained a JPY-17-billion (USD 148m/EUR 131m) Shinsei green loan to support the construction of a solar power plant of 60 MW direct current (DC) in Fukushima City, Japan.

Spanish renewable power producer Opdenergy Holding SA announced on Wednesday that it had registered a EUR-100-million (USD 113.1m) promissory notes programme on Spain’s alternative fixed-income market MARF.
The notes are considered green and in line with the green loan and green bond principles, Opdenergy said.

Macro Commitments

The auto giant’s investment target trails VW’s $58.5 billion pledge. But one analyst said Toyota seems now to have a “high level of commitment” to EVs.

China’s Risen Energy Co Ltd (SHE:300118) plans to spend CNY 44.65 billion (USD 7bn/EUR 6.2bn) on a new complex in Inner Mongolia that will combine solar photovoltaics (PV) production with renewable energy generation.

Tata Motors has incorporated a 100% subsidiary, Tata Passenger Electric Mobility Limited (TPEML). TPEML has been incorporated with an authorized capital of 700 million equity shares of ₹10 (~$0.13), aggregating to ₹7 billion (~$93.08 million). TPEML has been incorporated to manufacture, design, and develop all kinds of services related to electric vehicles/electric mobility and hybrid electric vehicles.

Philippine company AC Energy Corporation (PSE:ACEN) will subscribe to shares in two subsidiaries to support the construction of a 160-MW wind farm and a 283-MW solar power plant in the Philippines.

The board of directors of Azure Power Global Ltd (NYSE:AZRE) has approved a rights offering through which the Indian renewable power producer could raise up to USD 249.9 million (EUR 220.7m).

Pathways, Frameworks, Case Studies, Research, Climate Science

Fortune Business Insights, a market research company, expects the carbon capture and storage (CCS) market to grow to $7 billion by 2028 aided by rising investments in developing new alternatives for curbing the carbon footprint and achieving the energy transition goals and net-zero targets.

Global renewable energy capacity jumped 4.7 per cent in 2021, as countries focus on reducing emissions to protect the environment, making it a record-breaker for renewables worldwide.
The total new renewable capacity installed reached 227 gigawatts this year, mainly driven by residential solar, offshore wind projects, battery and other forms of stored energy, according to a report from Norway-based consultancy Rystad Energy. Residential solar outpaced commercial and industrial capacity additions for the first time, while new offshore wind installations doubled compared to 2020.

Ten of this year’s most destructive weather events cost a combined $170 billion in damages, according to a new study.
Hurricane Ida, a tropical storm that pummeled much of the eastern U.S. with lashing rain in August, killed at least 95 people and cost the economy $65 billion. A month earlier, floods in Europe caused 240 deaths and an economic loss of $43 billion, according to research published by U.K. charity Christian Aid. Floods in China’s Henan province in July killed more than 300 and cost in excess of $17 billion.

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