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Wind turbines are seen at Mynydd Portref Wind Farm near Hendreforgan in South Wales, Britain, March 26, 2021.

LONDON (Reuters Breakingviews) – Concise insights on global finance.

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GREEN FLASH. Who’s most excited about Joe Biden’s latest carbon reduction plans? Wind stocks, for one. Danish wind turbine manufacturer Vestas jumped 9% on Thursday on U.S. plans to halve greenhouse gas emissions by 2030. Planners of racy green energy SPACs, for another. Still, the heavy lifting for the worldwide energy transition will be less flashy capital.

Here’s an example: a $300 million private equity fund planned by Tikehau Capital, in partnership with fellow French group Total. Tikehau already raised over 1 billion euros in Europe to invest in small groups undertaking unshowy stuff like improving building insulation. According to a person familiar with the situation, it now wants to do the same in North America. It’s not quite Tesla. But with buildings contributing here 38% of all energy-related carbon dioxide emissions, the attention of Wall Streeters could make a tangible difference. (By George Hay)

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Earlier in Capital Calls:

American Airlines lightens the losses

Europe IPOs get a qualified tech boost

Canberra looks game for more brawling with Beijing

Time to put Hermès’ cash pile to use

American consumers at forefront of rising prices

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