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ELECTRIC VEHICLES-
UAE’s first home-grown “repurposed EV” to debut at COP28: Dubai-based EV startup PeecMobility will unveil its first petrol-to-electric repurposed vehicle this week at COP28, Khaleej Times reports. Peec’s tech could help the region avoid mass scrapping existing ICE (internal combustion engine) vehicle fleets and the need to manufacture new EVs to replace them. The company says its approach requires 30% less cost and 80% less manufacturing time than new versions.
GREEN FINANCE-
SFD funds hydropower in Tajikistan:The Saudi Fund for Development (SFD) inked a USD 100 mn development loan agreement with Tajikistan to fund the construction of the Rogun hydropower project in the landlocked Central Asian country, according to two separate statements (here, and here). The project is set to provide renewable electricity supply to meet local demand, producing 3.6 GW of energy, according to the statement.
Where the funds are going: The loan will finance the construction of a 335-meter-high clay core rockfill dam on the Vakhsh River in the Rogun district. The dam will have 6 turbines of 600 MW each with a total installed capacity of 3.6 GW. The loan will also finance the construction of four hydraulic tunnels for diversion and drainage, providing flood protection. The project aims to "enhance energy, food, and water security, and foster sustainable development in the country,” according to the SFD.
GREEN HYDROGEN-
UAE’sSNOC is eyeing green hydrogen production: The UAE's state-owned Sharjah National Oil Corporation (SNOC) is exploring the use of green hydrogen production as a means to achieve its net zero ambitions by 2030, CEO Hatem Al-Mosa told Zawya on the sidelines of COP28. The energy company is currently funding research on energy storage and electrodes for green hydrogen production at the American University of Sharjah and the University of Sharjah and hopes to begin production within the next five years. Other mitigation efforts SNOC is working towards include solar power, carbon sequestration, and electrification.
