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Chestnut Carbon Closes $210M Microsoft-Backed Financing from JPM
Enbridge to Build 600 MW Texas Solar Project to Power Meta Data Centers
Sol Systems Secures $675M to Build Out Solar + Storage Pipeline
GE Vernova to Acquire Alteia to Bolster AI-Driven GridOS® Visual Intelligence
BKV Corp Expands CCS Efforts with East Texas Project and Midstream Partner
Chevron Finalizes Hess Acquisition, Expands Global Growth Profile
The almost headlines
In case you missed
Marks a first-of-its-kind bankable deal structure for carbon removal in the U.S.
J.P. Morgan and partners led the non-recourse financing for forest-based carbon removal.
Supply agreement with Microsoft underpins the deal, unlocking scale and investor confidence.
Chestnut plans to expand afforestation projects using this structure to drive net-zero impact.
Microsoft to purchase 4.9M tonnes of durable CO₂ removals over 12 years via deep waste injection.
Vaulted Deep will permanently sequester organic waste-derived CO₂ underground, avoiding methane and PFAS contamination.
The agreement supports facility expansion through 2038; Vaulted’s Great Plains site already created $5M in economic impact.
Certified by Isometric, the carbon removal process has operated safely since 2008 and is permitted in multiple U.S. states.
Meta signs long-term offtake deal for entire project output; $0.9B investment expected online by 2027.
Enbridge will build the 600 MW Clear Fork solar facility near San Antonio, supplying 100% of its output to Meta.
The project will cost approximately $900 million and begin operations in summer 2027.
Enbridge expects the project to be accretive to cash flow and earnings per share starting in 2027.
Facility to support 500 MW across IL, OH, and TX with first projects online by 2026.
New revolving credit facility will fund construction, tax equity bridge loans, and letters of credit.
Financing arranged by KKR Capital Markets, with participation from major financial institutions.
Sol now manages a 7 GW portfolio across 38 states, with integrated storage and grid resiliency focus.
New venture will produce 61M gallons/year of renewable fuels to decarbonize Hawaii’s aviation sector.
Mitsubishi and ENEOS will acquire a 36.5% stake for $100M; Par Pacific retains majority ownership and ops control.
The project repurposes Par Pacific’s existing infrastructure and Lutros' pretreatment tech to produce SAF and renewable diesel.
The facility will be Hawaii’s largest renewable fuels site, operational by year-end pending regulatory approval.
Acquisition to enhance utilities’ use of AI computer vision for grid resiliency and rapid restoration.
GE Vernova will acquire Alteia SAS to integrate AI-based visual analytics into its GridOS platform.
The software will boost utilities’ ability to manage vegetation, assess damage, and respond to outages.
Quaise drills 100 meters using gyrotron-based tech to access superhot geothermal energy.
The system ablates rock with millimeter waves, targeting geothermal depths for baseload zero-carbon energy.
This marks the first deep field success for a technology developed at MIT and previously tested only in labs.
Quaise plans a 2028 pilot plant using enhanced gyrotrons to access 752°F rock in the Western U.S.
Project to capture 70,000 tonnes CO₂/year without needing high-pressure pipeline.
BKV and a midstream partner will build a CCS facility at an East Texas gas plant, online by 2027.
Captured CO₂ will be injected via on-site Class II well, minimizing infrastructure costs.
Project may transfer to BKV-Copenhagen Infrastructure Partners JV as portfolio expands.
$1B+ in cost synergies projected from Hess merger, extending growth into 2030s.
Chevron gains major stake in Guyana’s 11B-barrel Stabroek Block and Bakken shale assets.
Deal expected to boost free cash flow per share and shareholder returns.
John Hess joins Chevron board; Investor Day scheduled for November 12 with updated guidance.
If you’re interested in the history of this lengthy M&A process, check this out
Kinder Morgan Highlights Methane Tech and Employee Programs in 2024 Sustainability Report
Report emphasizes methane detection, disaster relief, and pipeline transparency.
Amplify Energy Plans Divestitures, New CEO to Refocus Portfolio
Dan Furbee steps in as CEO as Amplify eyes oil-weighted simplification.
Sunya Stories episode #12 with David Heikkinen of WhiteHawk Energy.
You can find it on Spotify.
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.
