Clean Energy and Total team on $100M JV to produce and distribute RNG

In California, a joint venture has been signed by Clean Energy and Total to develop carbon-negative fuel and infrastructure.

The 50-50 venture to develop production facilities in the United States will also lend support for building additional downstream renewable natural gas (RNG) fueling infrastructure.

The initial firm commitment is $100 million and can increase to $400 million as development opportunities progress. Since Clean Energy and Total will be providing the equity portion of the investments, the actual amount of capital invested in RNG projects may be higher than $400 million, depending on the amount of leverage that is deployed. In addition, Total will be providing credit support for Clean Energy development in the RNG value chain, including $45 million for contracted RNG fueling infrastructure.