Green Markets - November 7, 2024
News in environmental markets.
Green Markets is a daily series dedicated to highlighting events of interest that could impact investments within environmental markets.
General Environmental/Regulatory
The UAE plans to invest $54.4 billion by 2030 in sustainable energy to support its goal of achieving net-zero emissions by 2050. The investment will help diversify the UAE's energy mix, focusing on clean energy and reducing the carbon intensity of oil and gas operations by 25% over the next decade.
Hydrogen
Saudi Arabia’s Public Investment Fund is investing $10 billion in green hydrogen, aiming to leverage the region's low-cost solar resources. While global green hydrogen projects face high production costs and low demand… leading companies like Masdar and Uniper to scale back… Saudi Arabia’s project, slated for completion by 2026, has already arranged purchase agreements.
Related Stock List(s): Hydrogen Stocks
Liquified Natural Gas (LNG)
LNG developers are optimistic that President-elect Donald Trump’s victory will accelerate permit approvals for LNG export projects. Under Trump, they expect a rollback of Biden-era Department of Energy reviews, which assessed the environmental and economic impacts of LNG projects and slowed approvals.
Related Stock List(s): LNG Stocks
Nuclear Energy
Westinghouse, in partnership with South Korea’s Hyundai Engineering & Construction, has signed a contract to build two new AP-1000 reactors (Units 7 and 8) at Bulgaria's Kozloduy nuclear power plant. This agreement covers engineering services for site planning, licensing, and project development. Unit 7 is set to begin commercial operations by 2035, with Unit 8 following in 2037.
Related Stock List(s): Nuclear Energy & Uranium Stocks
Investment Funds
Pelican Energy Partners has raised $450m for a nuclear services fund.