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Carbonomic - The Clean Hydrogen Revolution (Goldman Sachs Research Report Attached}
Goldman Sachs
Date: 2022-03-25



Goldman Sachs Invests in Canadian CAES Specialist (Ind. Report)
Hydrostor
Date: 2022-01-12
New York-headquartered banking giant Goldman Sachs is $250 million in Toronto-based underground compressed air energy storage (CAES) startup Hydrostor. Hydrostor is expected to use the new funds for development, staff expansion and marketing in Europe and the U.S.

As previously reported, Hydrostor's long-duration energy storage system is environmentally low-impact, cost-effective and can store energy for up to 6+ hours. In 2020, Hydrostor's 200 MW A-CAES system was selected by Australia's New South Wales Transmission Network Service Provider, Transgrid, as the preferred option in its Regulatory Investment Test for Transmission (RIT-T) for reliable and secure energy supply. (Source: Goldman Sachs, Hydrostor, PR, 19 Jan., 2022) Contact: Hydrostor, Curtis VanWalleghem, CEO, (416) 548-7880, www.hydrostor.ca

More Low-Carbon Energy News Hydrostor,  Energy Storage,  Goldman Sachs,  


Goldman Sachs Accelerating Transition -- Task Force on Climate-Related Financial Disclosures 2021 (Editorials & Asides)
Goldman Sachs
Date: 2022-01-03
"Goldman Sachs has a long-standing commitment to address the impacts of climate change and accelerate the transition to a low-carbon economy -- we were one of the first major banks to acknowledge the scale and urgency of climate change in 2005. Since then, we have accelerated our efforts to integrate sustainability across our business, prioritizing climate transition and inclusive growth in our commercial efforts with clients.

"As a financial institution, we believe the most meaningful role we can play in the global climate transition is to drive decarbonization in the real economy in partnership with our clients. We see significant opportunities in further mobilizing the full breadth of our business and franchise to support this effort, including:

  • Expanding our commercial capabilities to help our clients measure and manage their climate-related exposure, such as: a new cross-firm initiative to support our corporate clients on their decarbonization strategies; the recently launched Carbon Portfolio Analytics in our cross-asset digital client services platform, Marquee; and a holistic ESG client advisory model with a climate segment

  • Developing new financing tools that are tied to progress on climate transition, such as bonds linked to related key performance indicators

  • Investing in climate solutions and emerging technologies that will be critical to enabling decarbonization in the hardest-to-abate sectors.

    Download the Goldman Sachs Accelerating Transition -- Task Force on Climate-Related Financial Disclosures 2021 report HERE . (Source: Goldman Sachs, Dec., 2021) Contact: Goldman Sachs, www.goldmansachs.com

    More Low-Carbon Energy News Climate Change,  Goldman Sachs,  Low-Carbon Economy,  decarbonization ,  


  • Goldman Sachs ACCELERATING TRANSITION -- TASK FORCE ON CLIMATE-RELATED FINANCIAL DISCLOSURES REPORT 2021 (Editorials & Asides)

    Date: 2022-01-02
    "As a financial institution, we believe the most meaningful role we can play in the global climate transition is to drive decarbonization in the real economy in partnership with our clients. We see significant opportunities in further mobilizing the full breadth of our business and franchise to support this effort. These include: Expanding our commercial capabilities to help our clients measure and manage their climate-related exposure, such as: • a new cross-firm initiative to support our corporate clients on their decarbonization strategies • the recently launched Carbon Portfolio Analytics in our cross-asset digital client services platform, Marquee • a holistic ESG client advisory model with a climate segment Developing new financing tools that are tied to progress on climate transition, such as bonds linked to related key performance indicators Investing in climate solutions and emerging technologies that will be critical to enabling decarbonization in the hardest-to-abate sectors As a financial institution, we believe the most meaningful role we can play in the global climate transition is to drive decarbonization in the real economy in partnership with our clients. We see significant opportunities in further mobilizing the full breadth of our business and franchise to support this effort, including:
  • Expanding our commercial capabilities to help our clients measure and manage their climate-related exposure, such as: a new cross-firm initiative to support our corporate clients on their decarbonization strategies; the recently launched Carbon Portfolio Analytics in our cross-asset digital client services platform, Marquee; and a holistic ESG client advisory model with a climate segment

  • Developing new financing tools that are tied to progress on climate transition, such as bonds linked to related key performance indicators

  • Investing in climate solutions and emerging technologies that will be critical to enabling decarbonization in the hardest-to-abate sectors. Download the Goldman Sachs ACCELERATING TRANSITION -- TASK FORCE ON CLIMATE-RELATED FINANCIAL DISCLOSURES REPORT 2021 report HERE . (Source: Goldman Sachs, Dec., 2021) Contact: Goldman Sachs, www.goldmansachs.com


  • Northvolt Produces First Battery Cell on Schedule (Int'l.)
    Northvolt
    Date: 2021-12-29
    Stockholm-headquartered battery specialist Northvolt AB is reporting the production of its first lithium-ion battery cell at its recently commissioned factory in Skelleftea in northern Sweden, meeting its production startup deadline ahead of schedule. The plant's production capacity is expected to increase toward 60 gigawatt-hours per year.

    Northvolt aims to shift the balance of battery-making power from Asia to Europe has secured over $30 billion worth of contracts from electric-car manufacturers including BMW AG, Volkswagen AG, Volvo Car AB and Polestar, according to Northvolt. Volkswagen, BMW, Goldman Sachs Group Inc. and Tesla Inc. are among Northvolt investors. (Source: Northvolt AB PR, Bloomberg 29 Dec., 2021) Contact: Northvolt AB, Peter Carlsson, CEO, hi@northvolt.com, www.northvolt.com

    More Low-Carbon Energy News Northvolt,  Battery,  Lithium-Ion Battery,  Energy Storage,  


    Goldman Sachs Sets Client Carbon Emissions Targets (Ind. Report)
    Goldman Sachs
    Date: 2021-12-17
    In the Big Apple, banking giant Goldman Sachs Group Inc. -- the second-largest investment bank in the world -- reports its emissions reduction efforts will initially focus on working with its corporate clients in high-emissions sectors -- oil and gas, power generation and auto manufacturing -- to reduce emissions by 2030.

    Starting with a baseline of 2019 levels, the bank said it would help oil and gas clients reduce emissions by 17-22 pct, power by 48-65 pct and autos by 49-54 pct by 2030 in support of reaching net-zero by 2050. According to the release, the bank's research shows that $56 trillion will be needed needed in green infrastructure investments globally to reach a net-zero economy by 2050.

    Goldman Sachs' new efforts come as climate-focused investors are calling on the major U.S. banks to rapidlyly and significantly scale back their financing of new fossil fuel development, saying current commitments to curb global emissions are not enough. In October, Goldman Sachs joined the United Nations-backed Net Zero Banking Alliance. (Source: Goldman Sachs, PR, CNBC, Dec., 2021) Contact: Goldman Sachs, www.goldmansachs.com

    More Low-Carbon Energy News Goldman Sachs,  Climate Change,  Carbon Emissions,  Net-Zero,  


    Canadian Solar Inks U.S. Solar+Storage O&M Agreements (Ind. Report)
    Canadian Solar,Recurrent Energy
    Date: 2021-09-08
    Guelph, Ontario-headquartered Canadian Solar Inc. reports it has entered into long-term operations & maintenance (O&M) agreements with the Slate and Mustang solar PV plus battery storage projects in Kings County, California. The projects were both developed by Canadian Solar's subsidiary Recurrent Energy and are currently owned by Goldman Sachs Asset Management Renewable Power.

    The agreements cover the full Slate Project, which is a 300 MW AC solar plant designed with a 140 MW / 561 MWh battery energy storage system. It also covers the storage component of the Mustang Project, which is a 100 MW AC solar plant retrofitted with a 75 MW / 300 MWh battery storage system. Canadian Solar O&M work will include plant monitoring, NERC registration, performance management, and preventative and corrective maintenance. (Source: Canadian Solar Inc., PR, 7 Sept., 2021) Contact: Canadian Solar Inc., Isabel Zhang, Investor Relations, investor@canadiansolar.com, www.canadiansolar.com; Recurrent Energy, www.recurrentenergy.com Canadian Solar Inc.,

    More Low-Carbon Energy News Recurrent Energy,  Canadian Solar,  Solar+Storage ,  


    Exxon Dropped from Carbon Leadership Council (Int'l. Report)
    Exxon,Climate Leadership Council
    Date: 2021-08-09
    Houston-headquartered oil giant Exxon Mobil is reported to have been suspended from the pro-carbon tax Climate Leadership Council (CLC) and the CLC's advocacy arm Americans for Carbon Dividends, after an Exxon lobbyist was secretly recorded by Greenpeace saying "the oil giant only voiced support for a carbon tax because it knew such a policy would be almost impossible to implement."

    Exxon CEO Darren Woods responded that "the lobbyist's comments in no way represent the company's position" and that the "CLC's decision is disappointing and counterproductive" and that Exxon will "mull more aggressive objectives" on emissions.

    Exxon was a CLC founding member in 2017. Participating members include BP Plc, Goldman Sachs Group Inc., World Resources Institute, Microsoft Corp. and others. The CLC advocates that any carbon tax proceeds should be directly returned to taxpayers through "carbon dividends" and wants simpler carbon regulations and similar fees charged on foreign imports to create a level playing field. (Source: Climate Leadership Council, World Oil, 8 Aug., 2021) Contact: Climate Leadership Council, Greg Bertelsen, CEO, www.clcouncil.org

    More Low-Carbon Energy News Climate Leadership Council,  Exxon,  Carbon Tax,  


    Enviva Biomass Announces Public Share Offering (Ind. Report)
    Enviva Biomass
    Date: 2021-06-07
    Bethesda, Maryland-based wood biomass pellet manufacturer Enviva Partners, LP is reporting a public offering of 4,000,000 common units representing limited partner interests. The Partnership expects to grant the underwriters an option to purchase up to an additional 460,000 common units from the Partnership at the issue price of the Offering.

    Offering proceeds will fund a portion of the aggregate purchase price for the acquisitions of a wood pellet production plant in Lucedale, Mississippi, a deep-water marine terminal in Pascagoula, Mississippi, and three long-term, take-or-pay off-take contracts with creditworthy Japanese counterparties. The Offering is not conditioned on the consummation of the above acquisitions.

    Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC, Barclays Capital Inc., BMO Capital Markets Corp., Citigroup Global Markets Inc., HSBC Securities (USA) Inc. and RBC Capital Markets, LLC are acting as joint book-running managers for the Offering. Raymond James & Associates, Inc., Tudor, Pickering, Holt & Co. Securities, LLC and USCA Securities LLC are acting as co-managers for the Offering. (Source: Enviva Biomass PR, Website, 3 June, 2021) Contact: Enviva Partners, www.envivabiomass.com

    More Low-Carbon Energy News ENVIVA news,  Biomass news,  Wood Pellet news,  


    Recurrent Energy Breaks Ground on One of the Largest Solar+Storage Projects in U.S. (Ind. Report)
    Canadian Solar,
    Date: 2021-01-22
    Guelph, Ontario-based Canadian Solar Inc. reports its wholly-owned utility scale solar project developer subsidiary Recurrent Energy, LLC has completed the sale of the Slate project to Goldman Sachs Renewable Power.

    The Slate project is a 300 MW solar plus 140.25 MW / 561 MWh storage project located in Kings County, California, and has begun construction.

    Canadian Solar's majority-owned energy storage subsidiary, System Solutions and Energy Storage will provide the project's battery storage integration solution. The project has signed PPAs with five different off-takers -- four solar and energy storage and one solar-only.

    Recurrent Energy, which functions as Canadian Solar's U.S. project development arm, has approximately 5 GW of solar and storage projects in development in the U.S. (Source: Canadian Solar, Website PR, 13 Jan., 2021) Contact: Rercurrent Energy, www.recurrentenergy.com; Canadian Solar, www.canadiansolar.com

    More Low-Carbon Energy News Canadian Solar,  Recurrent Energy,  Solar,  


    Recurrent Breaks Ground on Major Solar+Storage Project (Ind. Report)
    Recurrent Energy
    Date: 2021-01-22
    Guelph, Ontario-based Canadian Solar Inc. reports its wholly-owned utility scale solar project developer subsidiary Recurrent Energy, LLC has completed the sale of the Slate project to Goldman Sachs Renewable Power. The Slate project is a 300 MW solar plus 140.25 MW / 561 MWh storage project located in Kings County, California, and has begun construction.

    Canadian Solar's majority-owned energy storage subsidiary, System Solutions and Energy Storage will provide the project's battery storage integration solution. The project has signed PPAs with five different off-takers.

    Recurrent Energy, which functions as Canadian Solar's U.S. project development arm, has approximately 5 GW of solar and storage projects in development in the U.S. (Source: Canadian Solar, Website PR, 13 Jan., 2021) Contact: Canadian Solar, Rercurrent Energy, www.recurrentenergy.com; Canadian Solar, www.canadiansolar.com

    More Low-Carbon Energy News Recurrent Energy news,  Energy Storage news,  Solar+Storage news,  


    Duke Raises $109.4Mn for Solar, Storage Projects (Ind. Report)
    Duke Energy Renewables, REC Solar
    Date: 2020-08-21
    Charlotte, North Carolina-based Duke Energy Renewables reports the closing of $109.4 million in a preferred tax equity funding from Goldman Sachs' Alternative Energy Investing Group.

    The investment will be used over 18 months to fund a diverse portfolio of approximately 75 MW of solar and solar-plus-storage projects to be developed and constructed by Duke Energy Renewables' subsidiary REC Solar. Projects will feature ground-mount and rooftop commercial and industrial projects, as well as community solar projects in several states.

    Duke Energy Renewables, a non-regulated unit of Duke Energy, operates U.S. wind and solar generation facilities totaling 3,000 MW as well as energy storage and microgrid projects. (Source: Duke Energy News Center, Website, 18 Aug., 2020) Contact: Duke Energy Renewables, Chris Fallon, (704) 594-6200, chris.fallon@duke-energy.com, www.duke-energy.com; REC Solar, www.recsolar.com

    More Low-Carbon Energy News Duke Energy Renewables,  Solar,  Solar Storage,  REC Soilar,  


    "$16 trillion Investment In Renewables by 2030" -- Notable Quote
    Goldman Sachs
    Date: 2020-06-19
    "Renewable power will become the largest area of spending in the energy industry in 2021, on our estimates, surpassing upstream oil and gas for the first time in history." -- Michele Della Vigna, Goldman Sachs Inc.

    Renewables -- including Biofuels -- will account for roughly 25 pct of all energy spending next year, up from about 15 pct in 2014 , driven in part by diverging costs of capital, as borrowing rates have risen to as high as 20 pct for hydrocarbon projects compared with as little as 3 pct for clean energy. Clean energy affords a "$16 trillion investment opportunity through 2030", according to Goldman Sachs. (Source: Goldman Sachs, Bloomberg Green, June, 2020)

    More Low-Carbon Energy News Renewable Energy,  Biofuels,  Goldman Sachs,  


    Goldman Sachs Sacks Fossil Fuel Financing (Ind. Report)
    Goldman Sachs
    Date: 2020-01-03
    In the Big Apple, international banking firm Goldman Sachs reports it is the first major U.S.-based bank to publicly declare it will not finance new oil fossil fuel projects in the Arctic and other projects that "significantly convert or degrade a natural habitat". The banking giant also acknowledged the scientific consensus on climate change as "one of the most significant environmental challenges of the 21st century", according to its website.

    Goldman Sachs also noted its commitment to invest $750 billion over the next 10 years in areas that focus on climate transition. As of the end of 2018, Goldman Sachs had financed $80 billion in clean-energy projects toward its goal of financing or investing $150 billion in clean energy by 2025, according to its 2019 annual report and website. (Source: Goldman Sachs, Petroleum Planet, Alaska Journal of Commerce, 31 Dec., 2019) Contact: Goldman Sachs , John Goldstein, Sustainable Finance Group, 212-902-1000, www.goldmansachs.com

    More Low-Carbon Energy News Fissil Fuel,  Goldman Sachs,  Climate Change,  Fossil Fuel,  


    Goldman Sachs Commits to Net Zero Carbon Buildings (Ind. Report)
    World Green Building Council
    Date: 2019-12-13
    Investment banker Goldman Sacks is among seven private sector companies -- Hudson Pacific Properties, Lendlease, Funds Management Australia, and Petinelli -- that have signed on to the World Green Building Council's (WorldGBC) Net Zero Carbon Buildings Commitment. The pledge calls for "urgent action" to ensure buildings operate at net zero carbon by 2030 or sooner.

    The Commitment positions renewable energy and energy efficiency as a central components to achieving decarbonisation across building portfolios. This represents the most cost effective, best practice approach to ensuring buildings are future-proofed against climate impacts. (Source: World Green Building Council, Circular, 12 Dec., 2019) Contact: World Green Building Council, The Net Zero Carbon Buildings Commitment, www.worldgbc.org/thecommitment, www.worldgbc.org

    More Low-Carbon Energy News World Green Building Council,  Net-Zero Carbon,  

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