#Net Zero Digest: The latest in game-changing CCS technology, a new Morocco-UK solar bond, and clean energy for the Amazon.

At The Net-Zero circle, we believe in the power of collaborations and partnerships. That is why we want to keep updated about the latest and most important deals that happened in the net-zero and green energy field. Explore the five most relevant joint projects of the last few weeks!

• Samsung, Chevron, and Saudi Aramco invest $150m in Carbon Clean

UK CCS tech startup, Carbon Clean, raises a record funding round. The company has gained corporate backing from Samsung Ventures (which has a significant oil and gas portfolio), Chevron, and Saudi Aramco Energy Ventures, among others.

Carbon Clean differentiates by managing to significantly reduce the size of equipment needed for a carbon capturing plant. The startup is now set to scale its breakthrough technology and become a leading provider of CCS solutions for heavy industry.

“Making carbon capture technology accessible for hard-to-abate sectors is a huge opportunity. We will use this new funding to scale production of our breakthrough fully modular technology which will overcome the biggest challenges facing widespread adoption of CCUS – cost and scale,” Aniruddha Sharma, Chair and CEO of Carbon Clean.

“We have a long history of supporting the development and commercialisation of breakthrough technologies, and we’re especially excited about the potential for CycloneCC to revolutionize the industrial carbon capture sector,” Chris P., Vice President, CCUS for Chevron New Energies.

• Octopus Energy invests in Moroccan clean energy

UK-based energy company Octopus Energy will partner with Xlinks, the company building an interconnector between solar farms in Morocco and the UK.

The site is expected to have 3.6GW capacity of clean energy production. This will be enough to power nearly seven million heat pumps throughout the year. This project is planned to start operations in 2027.

“This partnership presents an enormous opportunity to bring down energy bills significantly and help the UK achieve #netzero. The investment demonstrates the ambition of both Xlinks and Octopus to deliver a cheaper, greener future for the UK public,” Simon Morrish, CEO, Xlinks.

“Going green will cut energy costs for Britain. Freeing ourselves from volatile fossil fuels was already important to help combat climate change, but it’s now clear we need to do this for affordability and security,” Greg Jackson, Founder of Octopus Energy Group.

The joint venture will not only diversify the UK’s supply routes and boost the country’s energy security, but also is projected to have cost competitive with #offshore wind energy.

OMERS Infrastructure and APG will jointly purchase energy transition platform in The Netherlands

Dutch pension investment company APG will support the first OMERS Infrastructure’s investment in The Netherlands . The companies have broken a deal to jointly acquire Groendus, an energy transition platform with an installed capacity of more than 170MWp of solar energy, as well as more than 12,000 electricity meters.

For OMERS Infrastructure, the deal marks its first investment in the Netherlands and the fifth global investment in renewable power.

.“Alongside APG, we look forward to working with Groendus’ experienced leadership team and playing an active role in helping the company continue to grow and deliver on its purpose to enable 100% clean energy for every organisation and institution in the Netherlands,” Alastair Hall, Head of Europe at OMERS Infrastructure.

“Not only do we expect solid returns, it also contributes to APG’s ambition to support the development and scale up of technology enabling a rapid energy transition in the Netherlands as well as the UN Sustainable Development Goals,” Jan-Willem Ruisbroek, Head of Global Infrastructure Investment Strategy at APG.

• Galp to acquire 4.8GW of renewable energy projects in Brazil

Portuguese power company Galp has announced its plans to purchase 4.8GW worth of #solar and wind energy projects in #Brazil. 

Brazilian solar designer SER Energia has agreed to sell  4.6GWp of projects currently in development across Brazil. Casa dos Ventos Energias Renováveis will hand over a group of wind farms being developed in Brazil’s north-east region, with a total capacity of 216MW.

The two deals represent the first step of Galp’s entrance to the Brazilian market.

“Brazil has boosted Galp’s growth over the last 12 years through our main pre-salt production projects. We are now adding a new engine of growth, leveraging Brazil’s vast potential in renewable energies, and rebalancing our business in the country in line with our ambitions of transitioning to a cleaner energy model,” Georgios Papadimitriou, COO, Galp.

• AES will deliver 450MW of clean energy to Amazon

US-based electric power distribution company AES Corporation has signed two PPAs with Amazon to deliver 450MW of renewable energy from its solar and battery energy storage project. The clean energy will be particularly provided to Amazon’s data center in California.

AES Corporation signed approximately 5GW of new PPAs worldwide last year and is determined to continue expanding its services sourcing from a portfolio of solar and four-hour storage projects in the CAISO region.

For Amazon, the deal marks another step towards the company's commitment to power all its global operations with 100% renewable energy by 2025 and achieve its net-zero carbon target by 2040.

“Together with Amazon, we’re showing how customised energy solutions and innovative thinking can help organisations of all kinds to decarbonise their operations and the grid,” Andrés Gluski, President and CEO at AES Corporation.

AES has also recently announced a 20-year agreement with Microsoft to supply green energy to its data centers in California.

Have we missed anything? 

Reach out to us with your suggestion of deals we should highlight in the next part: nadia@in-vr.co

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