Daily News Wrap-Up: General Motors Aims to Become Carbon Neutral by 2040

Here are some noteworthy cleantech announcements of the day from around the world:

General Motors has unveiled plans to become carbon neutral in its global products and operations by 2040. It also committed to setting science-based targets to achieve carbon neutrality. It signed the Business Ambition Pledge for 1.5°C, an urgent call to action from a global coalition of United Nations agencies, business, and industry leaders. In addition to its carbon goals, the company worked with the Environmental Defense Fund to develop a shared vision of an all-electric future and target eliminating tailpipe emissions from new light-duty vehicles by 2035.

Lightsource bp has entered into a virtual power purchase agreement with Verizon Communications to enable the construction of a new 152.5 MWac solar project in Indiana, United States. The Bellflower solar project is expected to become operational in 2022. The project is expected to generate $30 million in property tax revenue to Rush and Henry counties over its life and will create 250 new jobs during the construction.

Power Grid Corporation of India, a Government of India enterprise, has filed a draft offer document with market regulator Securities and Exchange Board of India for the proposed initial public offer of units by POWERGRID Infrastructure Investment Fund (InvIT). InvITs serve as a source of finance for infrastructure projects. Individuals and institutions invest in InvITs like in mutual funds. The money raised will be used to finance income-generating infrastructure projects like inter-state transmission networks.

Solis Technologies, a China-based solar inverter firm, has said its annual sale is expected to reach $340 million in 2020, a 93% increase compared to the same period last year. The company’s cumulative shipments to India also surpassed the 1 GW milestone. It has plans to increase manufacturing capacity from 5 GW to 20 GW in 2021.

Upstream Tech, a for-purpose environmental technology company, has partnered with ENGIE to provide inflow forecasting for the company’s newly acquired hydro-electric portfolio in Portugal. Upstream Tech’s end-to-end modeling and decision support service combined with artificial intelligence and satellite imagery help provide accurate and reliable hydrological forecasts, enabling hydropower asset owners to plan operations more effectively.

Here is our previous daily news wrap-up.