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Blockchain Startup Ripple Implements Green Initiative In Partnership With Nelnet Renewable Energy

Anna Martynova

Ripple has announced a partnership with Nelnet Renewable Energy to create a $44 mln fund. According to the official press release, Ripple has funded most of the co-investment that will go to finance solar projects across the United States. In this way, the fund realizes the common goal of the crypto industry, aimed at reducing the carbon footprint through the development of alternative energy sources.

In a recent statement, Nelnet mentioned that solar projects funded by the Ripple Nelnet Renewable Energy Fund will offset more than 1.5 mln tonnes of carbon dioxide over 35 years. Ripple is part of the Crypto Climate Accord, a private sector initiative aimed at decarbonizing the crypto industry by 100% by 2030. Last year, the blockchain company formed a partnership with Energy Web and the Rocky Mountain Institute to decarbonize the XRP Ledger.

According to Ken WEBER, Head of Social Impact at Ripple, ensuring clean energy is a top priority for every industry, not only to stimulate future economic growth, but also to maintain the ecology of the earth.

Image: MarTech Series

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