Today’s ESG Updates
- EDF Invests $1.5B in British Nuclear Project: France’s EDF boosts stake in Sizewell C, aiming to power 6M homes
- Solarig Commits $350M to Italian Biomethane: Spanish firm to build 20 plants by 2030, supplying energy to 360,000 homes
- Texas Nuclear Project Courts Big Tech: Fermi plans 4 reactors near nuclear plant site, in leasing talks with hyperscalers
- Trump Escalates Trade War with 50% Copper Tariff: EU races for a deal as semiconductor and pharma levies loom
France’s EDF will invest $1.5B in Britain’s nuclear project
The French presidency and the British government have recently announced that, as an existing shareholder, French nuclear energy utility EDF will further invest $1.5B (£1.1B) in the Sizewell C nuclear project in Britain. Once operational, the Sizewell C plant is predicted to generate enough electricity to power approximately 6M homes. France’s EDF states that its investment ensures a 12.5% stake in the nuclear project. Britain’s government has already committed £17.8B to this project but is still in search of additional investors. The UK Government will continue to be a significant shareholder in the project to ensure limited delays and its oversight of the progress. Sizewell C will be the second new nuclear plant built in Britain, and EDF has previously stated that it would be approximately 20% cheaper than the previous Hinkley C project. Business leaders can use ESG solutions to stay updated on further industry developments.
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Further reading: France’s EDF to invest $1.5 billion in Britain’s Sizewell C nuclear project
Spain’s Solarig announces investment plans of more than $350M for biomethane plants in Italy
Spanish renewable developer Solarig plans to invest more than $351.51M (€300M) through the end of the decade to build and operate more than 20 biomethane plants in Italy. This investment will be deployed by Solarig’s biomethane subsidiary, Biorig, which is also currently developing 20 plants in Spain. Biomethane can be produced from organic waste such as food scraps or damaged crops. The portfolio in Italy is predicted to reach a production of 90M cbm per year, or almost 1 TWh every year, which will be enough to cover the consumption for 360,000 Italian households.
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Further reading: Spain’s Solarig to invest more than $350 million in biomethane plants in Italy
Talks with “hyperscalers” are underway for a Texas project looking to build four nuclear plants
A Texas company, Fermi, is looking to build four AP1000 reactors at a facility it calls a “hypergrid”, next to the Department of Energy’s Pantex nuclear weapons plant in Amarillo. The facility will be powered by nuclear, natural gas, and renewable energy. There are ongoing discussions with many Big Tech companies, which are known as “hyperscalers”, about leasing agreements for the project. In the company’s application to the Nuclear Regulatory Commission, it was stated that the hyperscalers would be tenants, implying that they would not own part of the plants. The company has stated that other plans to finance construction and operation include equity capital contributions from institutional infrastructure and real estate investors, structured bond offerings, and clean energy tax credits.
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Further reading: Texas project to build four nuclear plants is in talks with ‘hyperscalers’
Trump expands trade war following the announcement of steep copper tariffs
Trump has broadened his global trade war as he recently announced a 50% tariff on imported copper and warned that long-threatened levies on semiconductors and pharmaceuticals were coming soon. The President has said that trade talks with the EU and China have been smooth but added that he is only days away from sending a tariff letter to the EU. U.S. copper futures have hiked by more than 10% after Trump announced new duties on the metal, which is crucial to electric vehicles, military hardware, the power grid, and many consumer goods. Sources from the EU state that as the U.S.’s latest bilateral trade partner, the EU aims to strike a deal before August 1 with concessions for specific key export industries, such as aircraft, medical equipment, and spirits. For the latest updates and developments, businesses can rely on ESG solutions.
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Further reading: Trump says steep copper tariffs in store as he broadens his trade war
Editor’s Note: The opinions expressed here by the authors are their own, not those of impakter.com — In the cover photo: Nuclear power plants, Aug. 28, 2021. Cover Photo Credit: Lukáš Lehotský
