Spanish renewable energy investor Capital Energy has put 4.3 gigawatts (GW) of wind and solar power plants for sale. The assets, all based in Spain, are estimated to fetch up to $1 billion, Reuters reported. The company's energy portfolio straddles 25 GW of renewable assets, including offshore green hydrogen projects, with 10 GW capacity in advanced stages of development. Spain has increased renewable targets to 62 GW of wind capacity, 76 GW of solar PV capacity and 22 GW of energy storage capacity.
Canadian-based miner Sigma Lithium in talks with companies interested in acquiring it, its CEO has said. Ana Cabral-Gardner said it wasn't a given that the company would sell itself, alternatives such as partnerships would also be considered. Buyers/ partners will receive the Grota do Cirilo hard rock lithium project in Brazil, which began production earlier this year. The mine will supply a quarter of output to South Korean battery major LG Energy Solution, with the rest being sold on the spot market.
The US Department of Energy has identified about 70,000 acres of land owned by it —including a decommissioned base that produced nuclear weapons during the Cold War — that could be used to set up clean energy projects, the agency said. Wind and nuclear and the country's largest solar power project could come up on the land, which spans five US states: Idaho, New Mexico, Nevada, Washington and South Carolina.
European venture capital firm A/O announced it had launched a €250 million fund focused on companies developing decarbonization technologies. A/O said it had already invested in two companies: SPAN, a manufacturer of consumer-grade tech products that lower energy usage in homes, and 011H, a timber company. Investments in the low-carbon sector are booming: financial powerhouse BlackRock is eyeing $7 billion for its fourth Global Renewable Power Fund.
Insurance company AXA said it will stop coverage for new gas exploration and development projects from 2025, becoming the 10th insurance firm to make such an announcement. AXA said it will make exemptions for companies that already have climate transition plans. Insurance companies are tightening fossil-fuel coverage policies as the world tries to reach Net Zero by 2050.