SUNYA SCOOP

EQT raises $23 billion

April 1, 2025

EQT Closes €21.5B Infrastructure Fund at Hard Cap

  • EQT Infrastructure VI raised €21.5B, 35% larger than its predecessor fund.

  • Targets stable-demand sectors like digital infra, decarbonization, and energy transition.

  • Already committed 45–50% of capital across 12 deals globally.

  • Attracted a broad base of LPs, with growing private wealth participation.

  • Supported by EQT’s global network of 600+ industrial advisors.

XGS Energy Secures Additional $13 Million to Accelerate Advanced Geothermal Deployment

  • XGS raised $13M in additional financing from Aligned Climate Capital, ClearSky, ClimateIC, and WovenEarth Ventures.

  • Funds will support commercial-scale deployment and expansion of its Thermal Reach Enhancement™ technology.

  • The company is operating its first commercial-scale well in California and aims to expand its gigawatt-scale pipeline.

  • XGS’s water-independent system is designed to be faster to deploy than other baseload energy options.

Stockholm Exergi to Build 800K Tonne/Year CCS Facility Using CATACARB® Enhanced HPC

  • The facility will capture 800,000 tonnes of CO₂ annually and begin operations in 2028.

  • CATACARB's 60-year-old carbonate tech will be optimized for bioenergy with carbon capture and storage (BECCS).

  • The plant will support Stockholm’s district heating system serving 800,000+ people.

  • Backed by the EU Innovation Fund and Swedish government; project in development since 2021.

Stonepeak Commits Capital to Longview Infrastructure for U.S. Grid Projects

  • Stonepeak backs Longview Infrastructure to develop electric transmission across the U.S.

  • Focus on grid expansion to serve growing data center and renewables-driven demand.

  • Projects will be developed with ISOs and communities to ensure transmission reliability.

  • Stonepeak manages $72B+ in assets and specializes in digital infrastructure and energy.

Amazon Backs Rare Earth Recycler Cyclic Materials in Series B Round

  • Amazon’s Climate Pledge Fund joins Cyclic’s oversubscribed Series B to boost circular supply chains for rare earths.

  • Tech will recover materials from products like hard drives for reuse in data centers and EVs.

  • Funds will accelerate expansion into U.S. and European markets, aiding sustainability in critical supply chains.

EDP Renewables North America Adds 100 MW Amazon-backed Solar Park to Indiana Portfolio

  • Riverstart III is now online in Randolph County, Indiana with a 100 MW capacity backed by a PPA with Amazon.

  • The project will power 19,200 homes and contribute $32.8M in tax payments over its life.

  • Since 2009, EDP has invested in 11 Indiana projects totaling 1.7 GW, about 30% of the state’s renewable capacity.

  • Amazon’s PPA supports its goal of 100% renewable operations by 2040.

Avangrid’s 238 MW True North Solar Farm Now Operational in Texas

  • Avangrid’s largest solar project powers Meta’s data center in Temple, Texas.

  • $369M investment created 300 local jobs; expected to generate $40M in property taxes.

  • Features over 488,000 panels to power nearly 60,000 homes annually.

  • The site delivers renewable energy directly to the ERCOT grid.

  • Avangrid now operates 1.6 GW of renewable capacity across 7 Texas projects.

Texas Gas Launches Open Season for 2 Bcf/d Borealis Pipeline Expansion

  • Texas Gas has opened a non-binding Open Season for the Borealis Expansion Project through April 30.

  • The pipeline will move Marcellus and Utica gas to markets across Ohio to Louisiana.

  • The expansion will add up to 2 Bcf/d of firm transport capacity.

  • The project enhances supply reliability for electric utilities and LNG exporters.

Williams Places Two Transco Pipeline Expansions into Service

  • Southeast Energy Connector (150 MMcf/d) and TX-LA Energy Pathway (364 MMcf/d) are now operational.

  • The projects support coal-to-gas transition in Alabama and grid reliability in the Gulf Coast.

  • Transco’s total capacity now exceeds 20 Bcf/d across 10,000 miles.

SCF Partners Invests in Phoenix Service Partners for Natural Gas Compression

  • SCF backs Phoenix with capital to scale high-horsepower, low-emission natural gas compression services.

  • Phoenix’s tech reduces methane emissions by over 50% compared to conventional fleets.

  • The company secured a $350M debt and equity facility alongside SCF’s investment.

TG Natural Resources Acquires 70% Stake in Chevron’s East Texas Gas Assets

  • TGNR paid $525M for 70% of Chevron’s East Texas gas assets—$75M cash and $450M capital carry.

  • Adds 250+ new locations and extends inventory life to over 20 years.

  • Asset overlap with TGNR’s Haynesville position enables $170M in projected synergies.

  • TGNR is jointly owned by Tokyo Gas and Castleton Commodities International.

WaterBridge Launches Open Season for Produced Water Pipeline in Permian

  • Announces Speedway Pipeline, a dual 30-inch system connecting Eddy & Lea counties to Central Basin Platform.

  • Designed to move up to 1M bpd of produced water; service expected to begin Q4 2025.

  • Aims to alleviate pore pressure and enhance water logistics in Northern Delaware Basin.

WhiteHawk Energy Doubles Down on Marcellus Shale Royalties with $118M Acquisition

  • Acquires additional Marcellus natural gas mineral and royalty assets, boosting cash flow from 1,400+ wells.

  • Now holds interests in 3,400+ producing wells across 1.05M gross unit acres in Marcellus & Haynesville.

  • The $118M deal marks WhiteHawk’s 6th acquisition in 3 years, adding 1,700+ undeveloped locations and 141 wells-in-progress.

  • Core operators include EQT, Range, CNX, and Antero, representing 95% of current production.

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.