Sourcing Renewables | Page 24

The U.S. Department of the Treasury and Internal Revenue Service (IRS) released proposed regulations on the Clean Hydrogen Production Credit established by the Inflation Reduction Act (IRA).

European bank ING announced it is phasing out the financing of upstream oil and gas activities by 2040 and aiming to triple new financing for renewable energy by 2025. 

Grocery wholesaler United Natural Foods, Inc. (UNFI) completed a roof-mounted solar array installation - the largest to date - at its Howell, New Jersey distribution center.

Microsoft entered into a multi-year offtake agreement to receive nature-based carbon removal derived entirely from an afforestation project based in the U.S.

Meta procured 330 MW of renewable energy from three solar projects under development in Illinois and Arkansas.

Colorado Governor Jared Polis and Colorado Department of Agriculture (CDA) Commissioner Kate Greenberg awarded $500,000 in grants to seven projects that demonstrate the use and benefits of agrivoltaics, which is the simultaneous use of land for solar energy production and agriculture. 

STAG Industrial, Inc. has completed three community solar projects hosted on its rooftops.

Global mining group Rio Tinto will replace all of its diesel fuel with renewable diesel at its Kennecott copper operation in Utah starting in 2024.

LyondellBasell, a global leader in the chemical manufacturing industry, signed two power purchase agreements (PPA) in the U.S. increasing its total procured renewable electricity to 1,366 megawatts (MW).