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CF Industries, JERA, and Mitsui Team Up on $4B Low-Carbon Ammonia Project in Louisiana
J.P. Morgan’s Campbell Global Closes $1.5B Forest & Climate Fund, Tops Target by 50%
Energy Transfer Brings in MidOcean for $9B Lake Charles LNG Project
Mubadala Enters U.S. Gas & LNG Market with Kimmeridge Investment
Base Power Banks $200M to Reinforce the Grid and Scale Nationwide
Sandbrook and PSP Sell Offshore Wind Pioneer Havfram to DEME in €900M Deal
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CF Industries is forming a JV with JERA Co. (35%) and Mitsui & Co. (25%) to build a $4B low-carbon ammonia plant in Louisiana—the largest of its kind to date.
The plant will produce 1.4 million tonnes per year of low-carbon ammonia and capture over 95% of CO₂ emissions during production.
1PointFive will handle the transport and sequestration of ~2.3 million tonnes of CO₂ annually, qualifying the facility for tax credits.
CF (40% ownership) will lead O&M and invest $550M to build out infrastructure to support the plant.
Ammonia offtake will be split among partners based on equity shares.
Construction starts in 2026, with first production expected in 2029.
Technip Energies and Topsoe will handle engineering and procurement.
Campbell Global, a timberland investment manager under J.P. Morgan Asset Management, has closed its Forest & Climate Solutions Fund II at $1.5 billion, exceeding its $1B target by 50%.
Including separate account mandates, the team raised a total of $2.3B.
The fund targets OECD markets with a strategy combining timber production and carbon sequestration.
So far, it holds 212,000 acres of sustainable timberland across the U.S. Pacific Northwest and U.S. South, managed to SFI certification standards.
The launch follows J.P. Morgan’s 2021 acquisition of Campbell Global, which now manages over 5 million acres globally.
MidOcean Energy to fund 30% of Lake Charles LNG and receive 5 MTPA of offtake.
MidOcean can supply its own gas and will commit to long-term transport via Energy Transfer pipelines.
Facility to be built on a site with 4 storage tanks and 2 deepwater berths, linked to Trunkline pipeline.
Final deal depends on FID and regulatory approval.
Project bolsters Energy Transfer’s position as a top U.S. midstream operator and helps MidOcean expand its global LNG play.
MidOcean is backed by EIG, managing $23.4B in energy infrastructure.
Mubadala Energy is acquiring a 24.1% stake in Kimmeridge’s SoTex HoldCo, its first U.S. gas and LNG play.
SoTex’s Eagle Ford gas production currently exceeds 500 MMcfe/d, aiming for 1.5 Bcfe/d by 2031.
The deal includes exposure to Commonwealth LNG, which targets first production in 2029.
Strategic move aligns with UAE’s 2050 net-zero goal and global energy transition ambitions.
Base Power closed a $200M Series B led by Addition, a16z, Lightspeed, and Valor Equity to scale its battery-powered home energy services.
Funds will go toward a new Texas factory, expanding Base Power’s reach beyond its home state.
With partnerships like Lennar Homes and Bandera Electric, the company aims to strengthen energy reliability and affordability.
Led by Zach Dell, the company’s team includes talent from SpaceX, Tesla, and Apple.
Havfram, a key player in offshore wind vessel development, is being acquired by DEME in a €900M transaction.
Founded in 2021 by Sandbrook Capital and PSP Investments, Havfram boasts a strong contract backlog and state-of-the-art vessels.
The deal is expected to close by April 2025, advancing DEME’s offshore wind expansion goals.
Apex Clean Energy is offloading a 49% interest in its 251 MW Pinnacle II portfolio—featuring Downeast Wind (Maine) and Wheatsborough Solar (Ohio)—to Thailand’s EGCO Group.
Apex retains majority control and will continue managing operations of both assets, which are expected online in 2025.
The deal, expected to close in Q2 2025, is Apex’s second major capital recycling move, helping fund new wind, solar, and storage developments.
New Era Helium Pushes Pecos Slope Plant to Q4 2025, Plots Net-Zero Data Center JV
New Era Helium is delaying its Pecos Slope Plant completion to Q4 2025, citing midstream ownership changes.
Paratus and Low Carbon Launch World-First Energy Price Insurance for Renewables
Paratus Holdings and Low Carbon struck a global first: an energy price insurance partnership to stabilize renewables revenue.
Nuvve and Jefferies Team Up to Electrify New Mexico
Nuvve has tapped Jefferies LLC to structure and secure capital for EV charging and grid infrastructure across New Mexico.
DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.
