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Released October 19, 2023 | sugar land
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Researched by Industrial Info Resources (Sugar Land, Texas)--Projects in support of environmental, social and governance (ESG) initiatives continue to pop up across the U.S. as a host of industries continue to decarbonize their operations and add renewable sources of energy. Industrial Info is tracking $48 billion worth of ESG-related projects in the U.S. that are planned to kick off in the fourth quarter, including $30 billion worth that have a medium-to-high (70% or higher) likelihood of beginning construction as currently scheduled. More than 40% of the total spend is attributed to solar projects.
Among the solar-generation projects expected to kick off before the end of the year is Invenergy's (Chicago, Illinois) $380 million Cadence Solar Energy Center in Union County, Ohio, about 35 miles northwest of Columbus. The project is designed to utilize an estimated 680,000 photovoltaic (PV) panels to generate up to 275 megawatts (MW) of solar power. Invenergy expects operations to begin in 2025. Subscribers to Industrial Info's Global Market Intelligence (GMI) Power Project Database can read a detailed project report.
For more information on Invenergy's renewable investments, see June 23, 2023, article - Invenergy's Renewables Business Receives Additional $1 Billion Investment.
Meanwhile, a subsidiary of Shell plc (NYSE:SHEL) (London, England), Savion Energy LLC (Kansas City, Missouri), expects construction of the 250-MW, $352 million brownfield SunPark solar farm in West Virginia will kick off in November. When complete, SunPark will become West Virginia's largest solar farm, according to local media reports, sitting on 3,000 acres at the site of the former Hobet mine, which closed in 2015. Click here to read a detailed project report.
For more information on solar projects at brownfield sites in the U.S., see July 19, 2023, article - Brownfield Solar Projects Gain Ground in U.S.
While solar projects dominate fourth-quarter ESG kickoffs, the U.S. is not without wind projects. The largest of these is the massive Sunzia project in New Mexico's Lincoln and Guadalupe counties being constructed for Pattern Energy Group (San Francisco, California). The facility will include approximately 900 turbines, each rated above 3 MW, to provide nameplate generation of 3,000 MW. The project is expected to be completed in 2026. Subscribers can click here for more details.
Three industries trail Power in terms of total investment value of fourth-quarter ESG project kickoffs: Pharmaceutical & Biotech ($4.3 billion), Industrial Manufacturing ($4.3 billion) and Oil & Gas Production ($3.6 billion).
The highest-valued project has a medium probability of beginning construction by the end of the year: the first phase of CarbonCapture Incorporated's (Los Angeles, California) proposed Project Bison Direct Air Capture and Carbon Sequestration Project near Wamsutter, Wyoming. CarbonCapture is seeking permits for the Phase I project, which is designed to capture 12,000 tons of carbon from the air. The multi-phase project is expected to capture and store 5 million tons of carbon dioxide (CO2) by 2030.
Earlier this year, the company announced it received an equity investment from Amazon.com Incorporated's (NASDAQ:AMZN) (Seattle, Washington) Climate Pledge Fund, in addition to announcing an agreement to provide Microsoft Corporation (NASDAQ:MSFT) (Redmond, Washington) with engineered carbon-removal credits. Subscribers can click here to read more information.
Most of the Industrial Manufacturing Industry's ESG activity is wrapped up in electric vehicle (EV)-related projects. For more information, see October 18, 2023, article - EV Demand Leads $8 Billion in 4Q U.S. Automotive Kickoffs.
In the Pharma & Bio Industry, construction is underway for life science real estate developer IQHQ Incorporated's (Solana Beach, California) $1 billion Fenway life science research center in Boston, Massachusetts. The project entails constructing two LEED-gold-certified towers and equipping them for leasable lab and office and retail space on the ground floor, among other efforts. According to IQHQ's 2022 ESG Annual Report, the project's sustainability efforts include utilizing Vicinity Energy's (Boston) eSteam carbon-free thermal energy technology to supply heating and tenant needs. The project is expected to wrap up by the end of 2025. Click here to read a detailed project report.
Subscribers to the GMI Database can click here for all project reports mentioned in this article and here for related plant profiles.
Click here for a full list of ESG-related projects planned to kick off from October through December, including those with a low probability (0-69%) of moving forward as scheduled.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 Trillion (USD).
Among the solar-generation projects expected to kick off before the end of the year is Invenergy's (Chicago, Illinois) $380 million Cadence Solar Energy Center in Union County, Ohio, about 35 miles northwest of Columbus. The project is designed to utilize an estimated 680,000 photovoltaic (PV) panels to generate up to 275 megawatts (MW) of solar power. Invenergy expects operations to begin in 2025. Subscribers to Industrial Info's Global Market Intelligence (GMI) Power Project Database can read a detailed project report.
For more information on Invenergy's renewable investments, see June 23, 2023, article - Invenergy's Renewables Business Receives Additional $1 Billion Investment.
Meanwhile, a subsidiary of Shell plc (NYSE:SHEL) (London, England), Savion Energy LLC (Kansas City, Missouri), expects construction of the 250-MW, $352 million brownfield SunPark solar farm in West Virginia will kick off in November. When complete, SunPark will become West Virginia's largest solar farm, according to local media reports, sitting on 3,000 acres at the site of the former Hobet mine, which closed in 2015. Click here to read a detailed project report.
For more information on solar projects at brownfield sites in the U.S., see July 19, 2023, article - Brownfield Solar Projects Gain Ground in U.S.
While solar projects dominate fourth-quarter ESG kickoffs, the U.S. is not without wind projects. The largest of these is the massive Sunzia project in New Mexico's Lincoln and Guadalupe counties being constructed for Pattern Energy Group (San Francisco, California). The facility will include approximately 900 turbines, each rated above 3 MW, to provide nameplate generation of 3,000 MW. The project is expected to be completed in 2026. Subscribers can click here for more details.
Three industries trail Power in terms of total investment value of fourth-quarter ESG project kickoffs: Pharmaceutical & Biotech ($4.3 billion), Industrial Manufacturing ($4.3 billion) and Oil & Gas Production ($3.6 billion).
The highest-valued project has a medium probability of beginning construction by the end of the year: the first phase of CarbonCapture Incorporated's (Los Angeles, California) proposed Project Bison Direct Air Capture and Carbon Sequestration Project near Wamsutter, Wyoming. CarbonCapture is seeking permits for the Phase I project, which is designed to capture 12,000 tons of carbon from the air. The multi-phase project is expected to capture and store 5 million tons of carbon dioxide (CO2) by 2030.
Earlier this year, the company announced it received an equity investment from Amazon.com Incorporated's (NASDAQ:AMZN) (Seattle, Washington) Climate Pledge Fund, in addition to announcing an agreement to provide Microsoft Corporation (NASDAQ:MSFT) (Redmond, Washington) with engineered carbon-removal credits. Subscribers can click here to read more information.
Most of the Industrial Manufacturing Industry's ESG activity is wrapped up in electric vehicle (EV)-related projects. For more information, see October 18, 2023, article - EV Demand Leads $8 Billion in 4Q U.S. Automotive Kickoffs.
In the Pharma & Bio Industry, construction is underway for life science real estate developer IQHQ Incorporated's (Solana Beach, California) $1 billion Fenway life science research center in Boston, Massachusetts. The project entails constructing two LEED-gold-certified towers and equipping them for leasable lab and office and retail space on the ground floor, among other efforts. According to IQHQ's 2022 ESG Annual Report, the project's sustainability efforts include utilizing Vicinity Energy's (Boston) eSteam carbon-free thermal energy technology to supply heating and tenant needs. The project is expected to wrap up by the end of 2025. Click here to read a detailed project report.
Subscribers to the GMI Database can click here for all project reports mentioned in this article and here for related plant profiles.
Click here for a full list of ESG-related projects planned to kick off from October through December, including those with a low probability (0-69%) of moving forward as scheduled.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 Trillion (USD).
