The US Department of Energy closed a loan of up to $1.9 billion to NextEra Energy to restart the 615 MW Duane Arnold nuclear plant in Iowa. The financing supports the return of a low-carbon power source that has been offline since 2020.

Other large financing commitments supported renewable energy and industrial decarbonisation. Sonnedix secured $1.3 billion against renewable-energy assets in Chile, Suniva raised $835 million to expand US solar-cell manufacturing and Yara opened a carbon-capture project in the Netherlands with estimated capex of EUR 200 million ($234 million).

Read more on the week’s key developments.

1. Iowa’s only nuclear plant moves toward reopening after six years offline

On 8 September, the US Department of Energy announced the financial close of a loan of up to $1.9 billion to NextEra Energy for the restart of the Duane Arnold Energy Center in Iowa. The 615 MW nuclear plant ceased operating in 2020 and its restart remains subject to licensing approval from the US Nuclear Regulatory Commission. The department estimates that the project will supply enough electricity for nearly 500,000 homes, create almost 1,500 construction jobs and support more than 450 jobs during operations.

The transaction extends federal financing beyond new nuclear development to the recovery of retired generating assets. The US commercial nuclear fleet has about 98.4 GW of capacity, making Duane Arnold equivalent to around 0.6% of the total. Restarting an established plant can add firm low-carbon capacity on a shorter timetable than building a new reactor, although substantial technical work and regulatory approval are still required. The loan reflects the increasing value placed on reliable generation as US electricity demand grows.

2. Sonnedix secures $1.3 billion for Chile renewables and storage

On 10 September, Sonnedix secured a $1.3 billion refinancing covering 1GW of operational solar and wind assets in Chile and financing 117MW of battery storage under construction. The portfolio is supported by investment-grade private power-purchase agreements and regulated revenues. BNP Paribas, Bank of America, Crédit Agricole Corporate and Investment Bank and Santander acted as Joint Lead Arrangers and Joint Bookrunners. BBVA, Goldman Sachs and MUFG participated as Mandated Lead Arrangers.

The transaction uses contracted revenues from operating renewable assets to support new storage and hybrid projects. Adding batteries to the portfolio will allow Sonnedix to manage the timing of renewable generation more effectively and expand its power-marketing activities. The seven-bank financing demonstrates the scale that established renewable portfolios can attract in Latin America when operational assets, contracted cash flows and storage investment are combined.

3. Suniva raises $835 million to expand US solar-cell capacity to 5.5GW

US solar manufacturer Suniva completed an $835 million debt and equity capital raise to build a 4.5GW solar-cell plant in South Carolina. The approximately $600 million facility will increase the company’s total annual production capacity to 5.5GW. Completion is scheduled for late 2027, followed by production ramp-up in 2028. Suniva said most of the new plant’s output is covered by long-term customer agreements.

Goldman Sachs Alternatives and I Squared Capital provided senior secured credit, while JBA arranged second-lien financing. Equity investors included Electron Capital Partners, Orion Infrastructure Capital and Rubric Capital Management. JP Morgan acted as sole structuring agent. The combination of contracted demand, institutional equity and multiple layers of credit shows how capital is being assembled for clean-energy manufacturing projects carrying construction and execution risks.

4. Yara opens cross-border CCS project with estimated capex of EUR 200 million

Yara International inaugurated what it describes as Europe’s largest industrial carbon-capture facility at its ammonia and fertiliser plant in Sluiskil, the Netherlands. The project can capture and liquefy up to 800,000 tonnes of carbon dioxide annually. Northern Lights will transport the carbon dioxide by ship to Norway for permanent storage 2,600 metres beneath the seabed. Yara expects the project to capture and store approximately 12 million tonnes over 15 years.

Yara’s original investment decision placed estimated capital expenditure at approximately EUR 200 million ($234 million). The company describes the project as the first complete cross-border industrial chain for carbon capture, transport and permanent storage. Its long-term agreement with Northern Lights connects an industrial emitter with shared transport and storage infrastructure, providing a potential route for other European producers seeking to reduce emissions without developing their own storage networks.

5. Hong Kong proposes expansion of sustainable-finance taxonomy

On 7 September, the Hong Kong Monetary Authority launched a consultation on Phase 2B of the Hong Kong Taxonomy for Sustainable Finance. The proposal would increase the number of covered activities from 25 to 39 and broaden the framework beyond climate-change mitigation to include climate adaptation and additional transition activities.

The proposed additions include transition pathways for aviation and steel, battery technologies and measures addressing flooding and coastal risks. Expanding the taxonomy would give banks and investors more detailed criteria for classifying financing across hard-to-abate industries and climate-resilience projects. It would also broaden the range of activities that financial institutions can assess against a common framework. The consultation closes on 7 October.

6. UNEP estimates $15 return for every $1 invested in climate and clean-air measures

The United Nations Environment Programme and Climate and Clean Air Coalition released Hidden Assets: The Economic and Health Case for Climate and Clean Air Action on 7 September. The assessment examines 25 measures across six sectors and estimates that each $1 invested would produce approximately $15 in total benefits. When only direct market gains such as lower healthcare costs and higher workforce productivity are counted, the estimated return is approximately $4.

Implementing the measures would cost around 0.7% of global GDP over the next decade, falling to approximately 0.5% by the end of the century. The report estimates an internal rate of return of 60%, with direct market benefits exceeding costs within ten years. Full implementation could prevent 144 million premature deaths by 2050 and avoid approximately 0.34°C of warming by mid-century. The findings provide governments and development institutions with a quantified basis for incorporating air quality and climate measures into fiscal frameworks and investment strategies.

7. Qualitas Energy acquires 5.8GW European renewables platform

Qualitas Energy agreed to acquire Cero Generation’s core European renewable-energy platform from Macquarie Group through Qualitas Energy Fund VI. The portfolio covers 5.8GW of solar, wind and energy-storage assets across the UK, Italy and Spain. More than 2GW is operational, under construction or ready to build, with another 3.8GW in development.

The acquisition gives Qualitas a combination of operating assets, near-term construction opportunities and a sizeable development pipeline. It also expands the fund’s exposure across three of Europe’s larger renewable-energy markets. Cero will continue operating under its existing brand following completion of the transaction, which remains subject to customary closing conditions.

8. Clean Growth Fund reaches GBP 81.5 million second close

The Clean Growth Fund completed the second close of its second fund at GBP 81.5 million ($110.1 million), passing the halfway point toward its GBP 150 million ($202.6 million) target. Border to Coast Pensions Partnership committed GBP 22.5 million ($30.4 million) through its UK Opportunities Fund. Border to Coast manages approximately GBP 120 billion ($162.1 billion) for 18 UK local government pension funds.

Strathclyde Pension Fund committed an additional GBP 10 million ($13.5 million), increasing its total commitment to the fund to GBP 30 million ($40.5 million). Clean Growth Fund II targets a 20% net internal rate of return and plans to invest in 25 seed-to-Series A climate-technology companies. It has already backed four businesses working in battery technology, food, heavy industry and buildings. The close channels more pension capital into earlier-stage climate investment through a specialist fund structure.

9. Twelve secures up to $45 million for sustainable aviation fuel plant

US carbon-transformation company Twelve closed a credit facility of up to $45 million for AirPlant One, its commercial-scale sustainable aviation fuel facility in Washington state. Endurance Capital and Nomura acted as joint bookrunners, with Nomura also serving as administrative agent. The facility refinances construction financing and supports additional hydrogen-production capacity.

AirPlant One uses carbon dioxide, water and renewable electricity to produce E-Jet sustainable aviation fuel and E-Naphtha. It is powered entirely by hydropower from the Columbia River system. The transaction provides additional financing after the plant entered operations, shifting the funding requirement toward capacity expansion. It also adds a debt-financing example to a sustainable-fuels sector that has relied heavily on equity, public support and long-term purchase agreements.

10. Postal Savings Bank of China's green loans reach RMB 1.10 trillion

Postal Savings Bank of China’s 2026 interim report, published on 11 September, showed that its green-loan balance reached RMB 1.096 trillion ($154.1 billion) at the end of June. The bank has directed green financing toward areas including clean energy, industrial energy conservation, emissions reduction and environmentally sustainable agriculture.

Crossing RMB 1 trillion places PSBC among China’s large state-owned banks with sizeable green-credit portfolios. As these balances increase, banks face greater demands to demonstrate consistent project classification, measurable environmental benefits and credible treatment of transition activities. These requirements will become increasingly important in assessing the quality of green assets alongside the scale of lending.