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Ripple announced its partnership with Nelnet

Şükriye Akdeniz

Oct 12, 2021

Ripple's last partnership was with Netnet Renewable Energy. With this partnership, Ripple has invested $44 million in one of Nelnet's solar investment funds

Ripple announced its new partnership with a statement to its investors. According to the statement, the joint investment with Nelnet, which is mostly financed by Ripple, is thought to contribute significantly to a cleaner and more sustainable energy future.
In addition to all these, it will provide financial resources to solar energy projects covering the whole of the USA.
Nelnet; is a publicly traded, diversified financial services and technology company focused on providing education services, technology solutions, professional services, telecommunications, and wealth management. Nelnet Renewable Energy acts as the company's renewable energy investment, management, and development.
In the announcement where the Ripple and Nelnet partnership was announced, the following was mentioned:
“Solar projects funded by the Ripple Nelnet Renewable Energy Fund are estimated to offset more than 1.5 million tons of carbon dioxide over 35 years, equivalent to the CO2 emissions from consuming 154 million gallons of gasoline.”
This partnership is Ripple's newest partnership for global finance, carbon neutrality, for building a future. As part of the Crypto Climate Accord, a private sector-led initiative, Ripple is focused on decarbonizing cryptocurrencies and making the crypto industry 100% renewable by 2030.
Ken Weber, Head of Social Impact at Ripple, commented on the partnership:
“Ensuring a clean energy future is a top priority in every industry, not only to ensure future economic growth but also to ensure a more sustainable world. As the adoption of cryptocurrencies and blockchain continues to grow, it is clear that the technology will support our future financial systems. We are delighted to be working with Nelnet as we continue to promise to reduce the carbon emissions of financial services globally and a carbon-negative cryptocurrency market.”
As the US transitions to a zero-carbon future, this partnership was announced at a good time, especially with the US Department of Energy's Solar Energy Futures Study predicting that 45% of all energy in the US could be produced by solar power.

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