Green Markets is a daily series dedicated to highlighting events of interest that could impact investments within environmental markets.
General Environmental/Regulatory
Dominion Energy has announced plans to add 21.1 GW of clean energy capacity by 2039 as part of its 2024 Integrated Resource Plan (IRP), which aims to meet projected unprecedented electricity demand. The plan includes the deployment of approximately 3.4 GW of offshore wind, 12 GW of solar, and 4.5 GW of battery storage, alongside five small modular nuclear reactors.
Denmark is investing 15 billion kroner ($2.1 billion) in green research and innovation, with a strong emphasis on climate-friendly agriculture and alternative proteins, as part of its strategy to achieve net-zero emissions by 2045. This funding will enhance R&D in carbon capture, biofuels, and sustainable food production. Key initiatives include developing technologies to reduce emissions from livestock and fertilizers, such as soil carbon sequestration and biorefining, as well as establishing a carbon tax on meat and dairy production to incentivize emissions reductions.
Germany is investing $3.1 billion to support 15 industrial companies’ decarbonization efforts. The initiative focuses on energy-intensive sectors like glass, paper, and chemicals, providing 15-year subsidies to offset the costs of transitioning to greener production methods. A second round of funding is planned for later this year.
The Canadian Ministry of Energy has announced up to C$500 million (approximately $362.1 million) in funding through its Smart Renewables and Electrification Pathways (SREPs) program. This funding is part of a larger C$2.9 billion ($2.1 billion) allocation from the 2023 budget to enhance clean electricity infrastructure, including renewable energy technologies and grid modernization projects.
Battery Metals
General Motors (GM) will invest $625 million into a joint venture with Lithium Americas to develop the Thacker Pass lithium project in Nevada. This investment grants GM a 38% asset-level ownership stake, including $430 million for the construction of Phase 1 and a $195 million letter of credit facility. GM also entered a 20-year offtake agreement for up to 38% of Phase 2 production.
Related Stock List(s): Commodity Trust Stocks, Commodity Royalty Stocks
Biofuels/Chemicals
Vision RNG secured $207 million in financing from HASI to develop two landfill gas-to-renewable natural gas (LFG-to-RNG) projects in Ohio, in partnership with WIN Waste Innovations. The projects will initially produce over 2 million MMBtus of RNG annually, with plans to double output in 11 years.
Related Stock List(s): Biofuels & Chemicals Stocks
Carbon Capture
The U.S. Department of Energy (DOE) has announced a plan to allocate up to $1.3 billion for carbon capture projects. The funding will primarily support demonstration projects, with up to $750 million earmarked for initiatives at one coal-fired power plant and two industrial facilities, focusing on integrating carbon dioxide transportation and storage infrastructure.
Related Stock List(s): Carbon Capture Stocks
Hydrogen
The European Energy Exchange (EEX) and the Indian Gas Exchange (IGX), in collaboration with the Gesellschaft für Internationale Zusammenarbeit (GIZ), have signed an agreement to develop a hydrogen trading market in India. This initiative is part of the International Hydrogen Ramp-Up (H2Uppp) program funded by the German government. The collaboration will include stakeholders from production, trading, transport, and consumption to create a hydrogen price index and trading services.
Construction has commenced on a significant green hydrogen project in northeast China, led by a unit of the state-owned China Energy Engineering Group. The first phase, costing 6 billion yuan (approximately $843 million), aims to produce 100,000 tonnes of eSAF annually by 2027. This phase will integrate 450 MW of wind power along with electrolyzers, solar panels, and biomass gasification.
Power2X and Advario are developing a green hydrogen-based SAF production facility in Rotterdam, with an annual capacity exceeding 250,000 tonnes of e-SAF. The plant will produce green hydrogen locally and source green methanol from biogenic carbon.
Related Stock List(s): Hydrogen Stocks
Nuclear Energy
Amazon Web Services (AWS) has signed three agreements to support the development of small modular reactors (SMRs), a type of advanced nuclear technology with a smaller footprint and faster manufacturing times than traditional reactors. The agreements include partnerships with Energy Northwest for a 320 MW project in Washington, X-energy for manufacturing SMR equipment, and Dominion Energy for a 300 MW SMR project in Virginia.
The U.S. Department of Energy has opened applications for $900 million in grants aimed at deploying next-generation modular nuclear reactors, partly funded through the Bipartisan Infrastructure Law.
Related Stock List(s): Nuclear Energy & Uranium Stocks