PV, storage, wind, and waste-to-energy are all being investigated by Low Carbon and Massachusetts Mutual Life Insurance.
Low Carbon, based in the United Kingdom, and Massachusetts Mutual Life Insurance Company (MassMutual) have teamed up to create a global renewable energy independent power producer with a goal capacity of 20GW by 2030.
Low Carbon’s intention to establish third-party investment funds with the goal of directing resources into large-scale renewable energy infrastructure projects in the UK, Europe, and selected worldwide markets will also be supported by the partnership.
It will concentrate on worldwide projects that make use of established technologies such as solar, storage, onshore and offshore wind, and waste-to-energy.
MassMutual’s first European renewable energy cooperation is part of the company’s plan to reduce its $222 billion assets under management investment portfolio to zero by 2050.
“Climate change mitigation demands the expedited deployment of renewable energy at scale over the next decade,” stated Low Carbon chief executive and founder Roy Bedlow (pictured).
“Our relationship puts us firmly on a path to build a net zero economy, with MassMutual’s commitment on creating long-term value and its purpose of helping people secure their future and protect the ones they love.”
“I am looking forward to collaborating with you to create a significant worldwide effect on large-scale renewable energy provision as a fossil fuel alternative.”
“MassMutual chairman, president, and CEO Roger Crandall said: “MassMutual is deeply dedicated to reducing our environmental footprint and creating a more sustainable world for our policy owners, customers, workers, and communities.”
“Our collaboration with Low Carbon will help us expedite our efforts in this area, as we both believe that investing in large-scale renewable energy projects may help us achieve a global net-zero economy.”
“We’re excited to collaborate with Low Carbon and leverage their knowledge and expertise to scale up renewable energy production and fuel the next generation of clean energy technology.”