Geothermal startup Mazama Energy raised $135 million in an oversubscribed Series B, the startup said Thursday. The fresh funding will help the company develop horizontal wells in superhot rocks capable of generating 15 megawatts of electricity per well. Mazama plans to start generating electricity sometime next year and said its first site in Oregon is capable of producing 10 gigawatts of electricity. That’s a sharp upward revision from the company’s estimate last year, when investor Vinod Khosla said the site had the potential to produce 5 gigawatts. Enhanced geothermal startups are shaping up to be the dark horse in the battle to power AI data centers and other large loads on the grid. While tech companies and data center developers have been throwing their weight behind natural gas, geothermal startups have been quickly advancing their technology. Unlike previous geothermal projects, enhanced geothermal startups are targeting deeper and hotter rock. Mazama, for example, has drilled ...
"Revolutionary Sustainable Investment: The Emergence of the Solidarity Financial Trust of Public Infrastructure NA-SA IV"
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A financial trust has been opened in Argentina to support sustainable investment in two nuclear energy projects. Investments made in the new Solidarity Financial Trust of Public Infrastructure NA-SA IV will go to enable the licence extension for Atucha I as well as the construction of a dry storage facility for used fuel.
The trust was opened on 24 January by Atucha's owner, Nucleoelectrica Argentina SA (NA-SA), with Nación Bursátil as well as Banco de la Provincia de Buenos Ares and Macro Securities. The financial firms will make placements for retail investors to invest Argentine pesos from a minimum of USD100 equivalent and receive a return of 2% per year.
NA-SA told World Nuclear News that the trust was set up for a total amount of USD600 million across six tenders. This would cover both the projects, which are estimated at USD463 million for the licence extension of Atucha II and USD137 million for the dry storage facility. NA-SA said that the
first tender of USD30 million was successfully raised in the first round.
The money will be held separately from NA-SA's finances, hence the term trust. The returns are backed by sales of electricity according to the remuneration contract between NA-SA and CAMMESA, the wholesale market management company, for electricity generated by NA-SA's three nuclear plants, Atucha I, Atucha II and Embalse which have total capacity of 1763 MWe.
NA-SA achieved accreditation for the trust as 'Sustainability Linked Bonds' from the Fix Scr ratings agency based on how it will achieve certain sustainability objectives.
José Luis Antúnez, president of Nucleoeléctrica Argentina, said the funding "allows us to advance in the development of strategic nuclear energy projects for the country that have a positive impact on national industrial growth and the country's contribution to the fight against climate change".
The Argentinian landscape has undergone a revolutionary shift with the emergence of a new financial trust, the Solidarity Financial Trust of Public Infrastructure NA-SA IV. This trust, established by Nucleoelectrica Argentina SA (NA-SA) in partnership with Nación Bursátil, Banco de la Provincia de Buenos Ares, and Macro Securities, aims to support sustainable investment in two nuclear energy projects, the Atucha I license extension and the construction of a dry storage facility for used fuel.
Investors have the opportunity to contribute Argentine pesos starting from a minimum of USD 100 and earn an annual return of 2%. The trust has been launched with a total fund of USD 600 million across six tenders, and the first round has already successfully raised USD 30 million. The money will be held in trust and the returns will be backed by sales of electricity generated by NA-SA's three nuclear plants.
NA-SA has been accredited by Fix Scr ratings agency as 'Sustainability Linked Bonds' due to its commitment to achieving certain sustainability objectives. José Luis Antúnez, the president of Nucleoeléctrica Argentina, stated that the funding "allows us to advance in the development of strategic nuclear energy projects for the country that have a positive impact on national industrial growth and the country's contribution to the fight against climate change".
This marks an exciting new era for the Argentinian energy sector and a significant step towards a sustainable future. Don't miss out on this opportunity to invest in a trust that promises to deliver not just financial returns, but also a positive impact on the environment.
Source: (worldnuclearnews)
#Argentina #NuclearEnergy #Financing
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