Carlyle, GIC invest in green ammonia developer Eneus Energy

Image by Wacker Chemie AG.

August 8 (Renewables Now) - US private equity firms Carlyle (NASDAQ:CG) and Singaporean sovereign wealth fund GIC have jointly invested in green ammonia project developer Eneus Energy in a deal that will support the latter in the development of its over-14-GW pipeline.

The fresh financing, the value of which was not disclosed, will be allocated for Eneus Energy’s global ammonia projects, Carlyle said on Thursday.

Set up in 2013, Eneus Energy has registered offices both in the US and the UK. The company says on its website it has a portfolio of “production site opportunities” under development in the US, while it has also identified additional locations across the UK, Europe and in other parts of the world.

“The investment from Carlyle and GIC will enable Eneus to continue to develop its pipeline of projects globally, starting with the US and UK,” said Chris Bronsdon, CEO of Eneus Energy. He pointed out that green ammonia can be used as a low-cost storage and transportation option for the supply of green hydrogen and can also be supplied for direct use in industries such as fertilisers and shipping.

Eneus Energy was advised by A Brown + Company Ltd and Wilson, Sonsini, Goodrich & Rosati in the financing deal. Carlyle and GIC were advised by Allen & Overy and Ashurst.

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Veselina Petrova is one of Renewables Now's most experienced green energy writers. For several years she has been keeping track of game-changing events both large and small projects and across the globe.

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