This purchase includes development rights for 35MW of wind power capacity, reflecting the company’s commitment to renewable energy and lowering costs.
“This acquisition serves as a blueprint for how the energy and data center sectors can collaborate to create long-term value while advancing sustainability initiatives,” said Fred Thiel, MARA’s Chairman and CEO.
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Chinese EV makers and battery manufacturers are targeting overseas production, particularly in Southeast Asia, to tap into growing markets and meet local demands.
There is increasing demand for EVs in Southeast Asia driven by government policies such as Malaysia's National Automotive Policy 2020 and commitment to achieving net-zero GHGs by 2050; and the Thai government’s target for 50% of vehicle output to be battery-powered by 2030.
It also helps that Neta is incredibly popular in Thailand, with the brand being the best-selling EV in the country this year.
The anticipated mass delivery of SE Asia-produced EVs and batteries in 2024 will likely catalyze further Chinese investments. Analysts have noted that establishing local production capabilities allows companies to expedite product launches and develop offerings more attuned to local market needs.
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Rwanda is set to obtain a portion of carbon credits instead of a portion of profits derived from Article 6 of the Paris Agreement. These credits will be applied to offset the country's National Determined Contributions (NDC) climate commitments. This initiative will contribute to advancing the industry, enabling Rwanda to diminish its climate footprint by facilitating access to cleaner technology through reduced emissions.
Rwanda’s decision to prioritize carbon credits over short-term gains sets an example for other nations. Emphasizing the importance of transparency and quality in its carbon market framework, Rwanda ensures that purchased credits meet international standards. The country aims to offer high-quality carbon credits that provide climate benefits, empower communities, and protect biodiversity, underlining integrity in the voluntary market.
Rwanda's ambitious Green Growth and Climate Resilience Strategy requires an estimated $11 billion investment, a significant challenge considering the current inflows of aid and investment.
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Toyota and its affiliated suppliers plan to reduce their shareholdings in electric parts maker Denso Corp., with Toyota intending to lower its stake from 24% to 20%. This move is aimed at generating approximately USD$1.9 billion to fund the companies' shift to electric vehicles. Denso will conduct a share buyback of up to $1.3 billion worth of its own shares.
Toyota is freeing up funds to support their transition to electric vehicles, as the company aims to roll out 10 new battery-powered EVs and sell 1.5 million units annually by 2026. This move is part of Toyota's broader strategy to compete in the ever-increasing EV market.
Toyota’s revised strategy and technological advancements makes them a formidable contender against EV competitors like Tesla, Volkswagen, and General Motors. This aligns with their $13.9 billion EV Battery factory investment in North Carolina.
Japanese companies, including Toyota, have been facing pressure to reduce or eliminate cross shareholdings. Toyota previously announced the sale of some of its stake in telecommunications company KDDI Corp. for $2.3 billion.
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