NGT News
March 10, 2021
Clean Energy Fuels Corp., a provider of clean transportation fuel, has finalized a joint venture (JV) with bp Products North America Inc. to develop, own and operate new renewable natural gas (RNG) projects at dairies and other agriculture facilities.
Each company will retain 50% voting control in the JV, which will be initially funded with $50 million previously provided by bp and another $30 million from Clean Energy. The JV anticipates adding preferred stock and debt to increase committed investment capital. Clean Energy will be the operating partner.
The JV will produce RNG using methane captured from dairies’ waste. RNG is used as a transportation fuel and has lower greenhouse gas (GHG) emissions on a lifecycle basis when compared to conventional gasoline and diesel. The California Air Resources Board (CARB) has given similar projects a carbon intensity (CI) score of a weighted average of -317 compared to CI scores of 100 for conve
Clean Energy, Toll Brothers rise; Tupperware, GE fall
sfgate.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from sfgate.com Daily Mail and Mail on Sunday newspapers.
Clean Energy, Toll Brothers rise; Tupperware, GE fall
680news.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from 680news.com Daily Mail and Mail on Sunday newspapers.
Tuesday, 09 March 2021
Clean Energy Fuels Corp. and its largest shareholder, Total SE, have announced a 50/50 joint venture to develop carbon-negative renewable natural gas (RNG) production facilities in the United States, as well as credit support to build additional downstream RNG fueling infrastructure. Courtesy of Clean Energy
The initial firm commitment is $100 million and can increase to $400 million as development opportunities progress. Since Clean Energy and Total will be providing the equity portion of the investments, the actual amount of capital invested in RNG projects may be higher than $400 million depending on the amount of leverage that is deployed. In addition, Total will be providing credit support for Clean Energy development in the RNG value chain, including $45 million for contracted RNG fueling infrastructure.