Nelnet and Ripple Announce $44 Million Clean Energy Fund
Ripple announces a strategic ESG partnership with Nelnet via a 44 million dollars joint investment. The ventures will incorporate the funds into Nelnet’s solar energy investment funds.
Ripple is funding most of the joint investment to help solar energy projects across the US, promoting a more stable and cleaner energy future. The announcement is proving the Ripple price prediction by experts right. In addition, the collaboration will reduce over 1.5 million tons of US carbon emissions.
Ken Weber, Ripple’s Head of Social Impact, talked about the development. According to Ken, ensuring a cleaner energy environment is crucial for every sector, driving future economic growth and facilitating a sustainable ecosystem. Furthermore, with blockchain and cryptocurrencies getting adopted globally, technology’s use in the financial system is evident.
That is why Ripple is thrilled to collaborate with Nelnet to reduce the carbon footprints of financial solutions globally. Moreover, the integration will complete the promise of delivering a carbon-free crypto sector.
Nelnet and its partners expressed delight in transitioning the nation towards more reliable and cleaner energy sources. Nelnet even earned an E1 ESG rating from S & P Global Ratings for their earlier clean energy funds. In addition, the venture received high scores on environmental, governance, and transparency. Currently, E1 is the highest ESG rating in the S & P Global rating ecosystem.
The ventures expect the latest project to eliminate 1.5 million tons of carbon emissions in 35 years. The amount equals Co2 emissions received after consuming 154 million gallons of gasoline. With the US transitioning towards a zero-carbon future, solar projects growth is emerging as an ideal time. According to the Solar Futures Study by the United States Department of Energy, the US could produce 45% of its overall energy could be solar.
Scott Gubbles, Nelnet’s Executive Director, also talked about the situation. Scott stated that Nelnet is excited to join a fantastic investor such as Ripple to advance clean energy generation in the United States. Collaborations like these offer cost-competitive energy, promote sustainability and create jobs for years.
