Green Markets - September 27, 2024

Sep 27, 2024

Green Markets is a daily series dedicated to highlighting events of interest that could impact investments within environmental markets.

The Environmental Protection Agency (EPA) has finalized a rule to improve the management, recycling, and reuse of hydrofluorocarbons (HFCs) in large refrigeration and air-conditioning equipment. The Emissions Reduction and Reclamation Rule imposes stricter requirements for repairing leaks, installing automatic leak detection systems, and minimizing HFC releases. It also limits the amount of new HFCs allowed in reclaimed refrigerants and introduces alternative standards for used refrigerants. Additionally, the EPA finalized the Technology Transitions Rule, mandating the switch to alternatives in refrigeration and HVAC products by 2028.

The U.S. Export-Import Bank has pledged up to $456 million in financing for Wyoming Rare Earth's Halleck Creek Project. This financing is part of the federal initiative to counter China's dominance in the rare earths market, where China controls 70% of production and 90% of refinement. The project includes both mining and processing facilities, which will produce essential rare earth magnet metals used in various high-tech products, from cell phones to jet engines.

Avalon BioEnergy is developing a $380 million Sustainable Aviation Fuel (SAF) biorefinery in Uruguay. The project integrates sustainable agriculture by cultivating non-edible oil seed crops alongside producing green hydrogen through solar-powered electrolysis. The facility will have a capacity of 100,000 MT per year.

Origis Energy has signed a 200MW solar-plus-storage power purchase agreement (PPA) with the Tennessee Valley Authority (TVA) for a project in Mississippi. The Hope Solar + Storage project will feature a 200MW solar facility paired with an 800MWh battery energy storage system (BESS).

India's Oil Secretary Pankaj Jain announced that the country will not purchase LNG from Russia's sanctioned Arctic LNG 2 project. The project has faced significant delays and halted progress since U.S. sanctions were imposed in November 2023, impacting foreign investment and participation. Despite distancing itself from sanctioned LNG, India remains committed to sourcing cheaper oil and gas, including Russian crude, as long as the suppliers are not under sanctions.
TotalEnergies has announced the acquisition of a 45% stake in dry gas-producing assets from Lewis Energy Group in the Eagle Ford basin, located in Texas. The transaction is expected to boost TotalEnergies’ LNG exports. Despite a regulatory setback affecting their Rio Grande LNG project, TotalEnergies aims to boost its U.S. LNG export capacity to 15 million tons per year by 2030.
Apollo-managed funds have acquired a majority interest in Freedom CNG, a Texas-based provider of compressed natural gas (CNG) and renewable natural gas (RNG) fueling infrastructure.

Related Stock List(s): LNG Stocks

Avangrid shareholders have approved a $2.5 billion buyout by Iberdrola, where the parent company will acquire the remaining 18.4% of Avangrid's stock that it doesn't already own. The transaction is set to close in the fourth quarter of 2024.

BBVA has committed $200 million to KKR's Global Climate Strategy, forming a strategic partnership to accelerate decarbonization efforts through sustainable infrastructure investments.

Green Investing