Ripple and Nelnet announce a $44 million joint investment in clean energy

On October 12, according to PR Newswire,  Ripple and Nelnet’s company Nelnet Renewable Energy made a strategic ESG (Environmental, Social and Governance) investment, and made a joint investment of US$44 million in a solar energy investment fund in Nelnet. . This joint investment, mainly funded by Ripple, will provide funding for solar projects across the United States to support the transition to a cleaner and more stable energy future. The investment will help reduce US carbon emissions by more than 1.5 million tons.

Ensuring a clean energy future is the top priority of every industry, not only to promote future economic growth, but to ensure a more sustainable world. As the adoption of cryptocurrency and blockchain continues to grow, it is clear that this technology will support our future financial system,” said Ken Weber, head of social impact at Ripple. “We are very happy to work with Nelnet because we are committed to reducing global The carbon footprint of financial services and fulfill the promise of the negative carbon cryptocurrency industry. “

Nelnet and its co-investors are proud of their contribution to the country’s transition to cleaner and more reliable energy. In March 2021, Nelnet received an E1 ESG rating from Standard & Poor’s Global Ratings for one of its early clean energy funds—high scores for transparency, environment, and governance. E1 is the highest ESG rating possible in the Standard & Poor’s global rating system, and may mark the first of many ratings for the Nelnet Clean Energy Fund.

The solar project funded by the Ripple Nelnet Renewable Energy Fund is estimated to offset more than 1.5 million tons of carbon dioxide within 35 years. As the United States transitions to a zero-carbon future, investment in solar projects cannot be more appropriate. In particular, the US Department of Energy’s solar future research predicts that by 2050, 45% of all US energy can be produced by solar energy.

This partnership is Ripple’s latest initiative to create a carbon-neutral future for global finance. Scott Gubbels, executive director of Nelnet Renewable Energy, said: “We are delighted to have a first-class investor platform that allows us to work with investors such as Ripple to further promote our advancement of clean energy power generation in the United States. Investments like this will help create jobs. , To provide the market with cost-competitive energy and promote sustainable development in the next few years.”

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