The U.S. Department of Energy (DOE) released application guidance for the second award cycle of the Civil Nuclear Credit (CNC) Program (BIL provision 40323), a $6 billion investment

The Indian conglomerate Essar has announced that it will invest US$3.6bn in the United Kingdom and in India over the next five years through a new entity, named Essar Energy Transition (EET), with the goal to drive decarbonisation.

The programme aims to support projects that will help to develop supply chains for SMR manufacturing and fuel supply and security to support Canada’s SMR industry, and to fund research on waste management solutions to ensure that SMRs, and the waste they generate, will be safe now and into the future.

India plans to spend US$4.3bn on energy transition through the Ministry of Petroleum and Gas, including programs for green fuel, green energy, green farming, green mobility, green buildings, and green equipment and policies for efficient use of energy across various economic sectors.

Out of the total, €9bn will go to gas infrastructure, including €6.3bn in gas transportation (including the upgrade of the 430 km Adriatic Line onshore pipeline), €1.4bn in LNG infrastructure (purchase of of two new FSRU-based LNG terminals and development of related infrastructure), and €1.3bn in the expansion of gas storage capacity.

The UAE government has also announced that it will invest US$30bn in South Korea’s nuclear power, defense, solar, and hydrogen industries. The investment will come from sovereign wealth funds, which include the UAE’s Mubadala Investment Company.

"Investment in new nuclear is a no-regrets option given expected increase in power demand and retirement of existing plants," the report said.

The deal is also intended to support Vietnam’s new target of accelerating the peaking of greenhouse gas (GHG) emissions to 2030 (from 2035 previously) and reducing its peak annual power sector emissions by up to 30%, to 170 MtCO2eq from 240 MtCO2eq.

The U.S. Department of Energy (DOE), through its Loan Programs Office (LPO), today announced the closing of a $2.5 billion loan to Ultium Cells LLC to help finance the construction of new lithium-ion battery cell manufacturing facilities in Ohio, Tennessee, and Michigan.

Some €5 billion ($5.22bn) has been released for the first steps but the cabinet has not said exactly how much the government will ultimately contribute.