Global Climate News

The United States hosted a technical program on Carbon Capture, Utilization, and Storage (CCUS) from March 3-5, 2025, at the George R. Brown Convention Center in Houston, TX. The event featured presentations and discussions on various themes including subsurface storage, site selection, injectivity challenges, and global CCUS implementation. Companies like Net Power, ExxonMobil, and Chevron participated, highlighting advancements in CO2 storage and utilization technologies. The program also included discussions on policy innovations for CCUS in India and a model for developing oil and gas regions globally, such as the Niger Delta.

Brazil-based Sigma Lithium Corporation received a Triple Environmental License for its Barreiro lithium mine in Minas Gerais. This secures long-term mining operations and spodumene ore supply for its Greentech Industrial Complex, supported by 16-year BNDES financing. The company has proactively engaged with communities, funding a school and childcare unit.

The Belize Women's Seaweed Farmers Association (BWSFA) has launched a sustainable seaweed mariculture project with £100,000 funding from the UK Government's Sustainable Blue Economies Programme. The project aims to strengthen sustainable seaweed farming through capacity building, marketing, and innovation, supporting climate resilience and sustainable livelihoods in Belize's blue economy.

The Central Bank of Barbados has managed the Enhanced Credit Guarantee Fund (ECGF) with IDB funding support, which has approved 326 guarantees totaling over USD 65 million. One-third of the guaranteed amount during the second loan programme went to the renewable energy sector. The bank is now negotiating a third round of USD 50 million funding that will focus on climate adaptation, export readiness, and financial inclusion.

Chilean energy company Colbún and Tesla signed an agreement for the supply of a 228 MW/912 MWh battery storage system for Colbún’s Celda Solar project in Camarones. The project, with a total investment of US$260 million, will create 200 jobs at its peak and is expected to be operational by mid-2026, providing energy equivalent to the consumption of 55,480 homes. This is part of Colbún’s plan to incorporate more than 1,500 MW of solar, wind, and storage generation by 2026.

Brazil-based Petrobras has contracted Fugro to conduct fully remote subsea inspection surveys using uncrewed surface vessel (USV) and electric remotely operated vehicle (eROV) technology. The 175-day contract extension will begin in January, marking Fugro's first deployment of Blue Essence and Blue Volta technologies in the Americas, reducing carbon emissions by 95% compared to traditional offshore operations.

Global renewable energy producer Sonnedix has secured EUR3.25 billion in refinancing through two major transactions in Europe. The first transaction of EUR750 million with CaixaBank refinanced a 197MW Spanish portfolio, while the second EUR2.5 billion transaction refinanced a 1.1 GW portfolio across Spain, Italy, and France. The refinancing will support Sonnedix's expansion of renewable energy projects, including energy storage and hybrid projects.

Ecuador, with support from the U.S. International Development Finance Corporation, Inter-American Development Bank, The Nature Conservancy, and Bank of America, announced a debt conversion with $1 billion in political risk insurance. This conversion refinanced $1.53 billion of Ecuador’s bonds, generating $800 million in savings and $460 million for the Amazon Biocorridor Program to conserve the Ecuadorian Amazon.

Brazil's Agência Nacional de Energia Elétrica (ANEEL) has set the 2025 Tarifa de Energia de Otimização (TEO) at R$ 17.37/MWh, TEO Itaipu at R$ 58.60/MWh, and Tarifa de Serviços Ancilares (TSA) at R$ 9.90/Mvar-h. The Preço de Liquidação de Diferenças (PLD) minimum is R$ 58.60/MWh, with a maximum structural limit of R$ 751.73/MWh and a maximum hourly limit of R$ 1,542.23/MWh. The TEO Itaipu saw a 4.04% reduction due to changes in the dollar adjustment factor and Paraguay's increased energy consumption.