This Week in Climate & Clean Energy Wins: Week of 9/4/23


$4.3 Billion32 GW$20 Billion 
The amount Hyundai and LG have invested in their Georgia battery plant, which will produce 300,000 batteries per year.The amount of new solar production capacity expected to be added to the grid in 2023.The economic impact generated by Pattern Energy Group’s new SunZia Transmission Project. 

A big week for climate tech companies, Venture capital and private equity firms invested over $2 billion in the sector on Tuesday – making it one of the busiest deal days in history. BMW and Mercedes launched their biggest EV push yet, unveiling two new models to compete with Tesla, and Kia sold over 70,000 EVs in the U.S. last month, a 9% year-over-year increase. Cummins, Daimler, and PACCAR announced a joint venture to advance battery cell production in the U.S., and Siemens announced a $30 million, 10-year investment in workforce development for U.S. EV charger technicians. Referring to the fast-growing EV charging sector, CEO David Etzwiler said, “The number of jobs needed there is tremendous and it’s immediate.” 

Wind Turbines, solar panels, and batteries played a significant role in supporting the American power grid through the hottest summer on record. The Natural Resources Defense Council released a report that projected how progressive permitting reforms would advance the clean energy transition and transmission buildout.

The Department of Energy (DOE) made a combined total of $288 million in clean energy investments this week, announcing up to $150 million in funding to advance environmentally conscious processes of critical mineral production to expand clean energy manufacturing efforts. DOE also announced $13 million for seven hydropower research and development projects that aim to bring pumped storage hydropower capacity to dams that do not generate power. DOE announced $125 million in grants aimed to help modernize the electric grid in nine states and five tribal nations.

Lastly, Hyundai Motor Group and LG Energy Solution announced they will increase their investment in a Georgia battery manufacturing plant by $2 billion and add 400 new jobs. With $4.3 billion now invested, this facility is expected to produce 300,000 batteries per year. In Pennsylvania, Eos Energy Enterprises launched the expansion of its battery manufacturing operation, investing an additional $500 million and adding hundreds of new jobs. In Arizona, Pima County announced it will invest $1 million over the next four years in planning ways to reduce harmful emissions. And, in New Mexico, Pattern Energy Group will start work on the SunZia Transmission project – America’s largest clean energy infrastructure project that will employ more than 2,000 workers, deliver clean power to 3 million people, and generate over $20 billion in economic impact. 

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