Nelnet And Ripple Joins Hand For $44M Clean Energy Fund

Over 1.5 million tonnes of carbon emissions in the United States will be reduced as a result of investment.


Ripple, the top provider of enterprise cryptoasset solutions that are faster, more open, and more cost-effective, today announced a $44 million joint investment into one of Nelnet’s solar energy investment funds as part of a strategic ESG investment with Nelnet Renewable Energy, a Nelnet business.

The joint investment, which will be funded in part by Ripple, will fund solar energy projects across the United States in order to support the transition to a cleaner and more stable energy future.

“Guaranteeing a clean energy future is a major priority across every industry, not only to drive future economic growth but also to ensure a more sustainable l) world. As the adoption of cryptocurrencies and blockchain continues to grow, it’s evident that the technology will underpin our future financial systems.” —Ken Weber, Head of Social Impact at Ripple

“We’re excited to work with Nelnet as we pursue our commitment to reduce the carbon footprint of financial services globally and to deliver on the promise of a carbon negative cryptocurrency industry,” He further added.

People are very excited about the ongoing partnership and reacted in a very positive manner.

THE MORE GREENER APPROACH

Nelnet and its co-investors are pleased of their role in helping the country make the transition to greener, more reliable energy sources.

S&P Global Ratings gave Nelnet an E1 ESG rating on one of its earlier sustainable energy funds in March 2021, based on outstanding transparency, environmental, and governance scores.

The highest possible ESG grade in the S&P Global rating system is E1, and Nelnet’s clean energy funds are anticipated to receive many more E1 ratings in the future.

Over the course of 35 years, the solar installations funded by the Ripple Nelnet Renewable Energy Fund are expected to mitigate over 1.5 million tonnes of CO2, the equivalent of 154 million gallons of gasoline consumed.

Investments in solar power projects could not come at a better time as the United States moves toward a zero-carbon future, especially with the US Department of Energy’s Solar Futures Study projecting that solar may produce 45 percent of all energy in the US by 2050.

“We are thrilled to have a best-in-class investor platform that enables us to work with investors like Ripple to further our effort toward advancing clean energy generation within the U.S.,”—NELNET RENEWABLE ENERGY’S EXECUTIVE DIRECTOR, SCOTT GUBBELS, STATED.

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