âSecuring a clean energy future is a top priority across all sectors, not only to spur future economic growth, but also to ensure a more sustainable world. As the adoption of cryptocurrencies and blockchain continues to grow, it is evident that technology will support our future. financial systems, âsaid Ken weber, Head of Social Impact at Ripple. âWe are excited to be working with Nelnet as we continue our commitment to reduce the carbon footprint of financial services globally and deliver on the promise of a carbon negative cryptocurrency industry. ”
Nelnet and its co-investors are proud of their contribution to the country’s transition to cleaner and more reliable sources of energy. In March 2021, Nelnet received an E1 ESG rating from S&P Global Ratings for one of its previous clean energy funds, achieving high marks on transparency, environment and governance. E1 is the highest possible ESG rating in the S&P Global rating system and probably marks the first in a long series for Nelnet’s clean energy funds.
Solar projects funded by the Ripple Nelnet Renewable Energy Fund are expected to offset more than 1.5 million tonnes of carbon dioxide over 35 years, which is equivalent to the amount of CO2 emissions resulting from consuming 154 million gallons of ‘gasoline. As the United States moves towards a zero carbon future, investments in solar power projects couldn’t come at a better time, especially with the United States Department of Energy Solar future study projection that 45% of all energy in the United States could be produced by solar energy by 2050.
The partnership is Ripple’s latest initiative to help build a carbon neutral future for global finance. Ripple is part of the Crypto Climate Accord, a private sector-led initiative aimed at decarbonizing cryptocurrencies and making the crypto industry 100% renewable by 2030. Last year, Ripple partnered with Energy Web and the Rocky Mountain Institute to decarbonize the XRP Ledger, the world’s first large blockchain to do so. In addition, Ripple is committed to becoming zero carbon by 2030 or earlier by reducing emissions and investing in carbon elimination projects such as reforestation, biochar and carbon sequestration.
“We are delighted to have a premier investor platform that allows us to work with investors like Ripple to continue our efforts to advance clean energy production in the United States,” said Scott gubbels, executive director of Nelnet Renewable Energy. âInvestments like these help create jobs, deliver competitive energy to the market and promote sustainability for years to come. “
Ripple is doing for value what the Internet has done for information: enabling its instant and transparent flow around the world. We call it the Internet of Value (IoV). Using blockchain and cryptocurrency technology, Ripple is dedicated to creating powerful gains in financial efficiency, equity and inclusion. In addition, Ripple develops and activates future use cases that catalyze the new digital economy for governments, businesses and consumers. Ripple has offices at San Francisco (HQ), new York, London, Bombay, Singapore, SÃ£o Paulo, Reykjavik, Washington DC and Dubai.
About Nelnet and Nelnet Renewable Energies
Nelnet (NYSE: NNI) is a publicly traded, diversified financial services and technology company focused on providing educational services, technology solutions, professional services, telecommunications and asset management. Nelnet has more $ 20 billion in assets and services on 500 billion dollars in loan assets. Nelnet Renewable Energy is the company’s renewable energy investment, management and development activity. Nelnet Renewable Energy is a leading fiscal capital investor and asset manager in distributed generation solar projects. Between the capital of Nelnet and the capital of its co-investors, the collaborative platform has financed more than $ 240 million equity, supporting the construction and operation of over 300 megawatts, totaling a value of nearly $ 800 million of projects in solar energy. This experience in renewable energy, combined with Nelnet’s proven asset management capabilities since its inception. 500 billion dollars portfolio of loan services and its alignment of interests as an investor alongside its partners, allows Nelnet to offer a unique co-investment platform to accredited investors based on the creation of shared value and environmental impact and social positive. For more information visit NelnetInc.com/coin INVESTMENT.
Nothing herein should be construed as, and may not be used in connection with, an offer to sell or a solicitation of an offer to buy or hold an interest in any security or investment product. Investments in investment products managed by Nelnet Renewable Energy are only available to “accredited investors” as that term is defined in federal securities laws. Investments are offered only through definitive transaction documents, and any potential investor should read these documents carefully, including all risk factors associated with the investment, before investing.
SOURCE Nelnet Renewable Energy