NUCLEAR-

ENEC signs agreement to explore collaboration with a Chinese nuclear firm: The Emirates Nuclear Energy Corporation (ENEC) signed an MoU with the China National Nuclear Corporation (CNNC) to explore co-investment and development of new international nuclear energy plants, Wam reported on Friday. They'll also explore the development and deployment of High-Temperature Gas-Cooled Reactors (HTGRs) in the country which use helium as a coolant instead of graphite or CO2, according to the International Atomic Energy Agency. HTGRs produce process heat, which can be used for hydrogen production and low-temperature applications such as seawater desalination and district heating.

We’ve been seeing a lot more of ENEC recently: Enec signed a flurry of MoUs during COP28 including with Canada's Terrestrial Energy to collaborate on using advanced nuclear energy technologies, Bill Gates’ TerraPower, GE Hitachi, and Kazakhstan's National Atomic Company Kazatomprom last week to boost the use of nuclear energy and explore its latest tech. It also signed an MoU with US miniature nuclear reactor developer Xenergy to deploy the latest nuclear energy tech, and with the UK Department for Energy Security and Net Zero to collaborate on nuclear energy deployment.

ELECTRIC VEHICLES-

Oman + LiChem ink MoU on lithium refining complex: The Oman Investment Authority and the Energy & Minerals Group ’s lithium refining subsidiary LiChem signed an agreement Wednesday to explore the development of a lithium refining complex in Oman using LiChem’s cost-effective, closed-loop process, according to a statement released last week.

About LiChem’s low waste, low emissions approach: The LiChem process’s key advantage above the rest of the lithium refining industry is its use of an alternative reagent rather than the commonly used sulfuric acid roast and the leaching process created by Metso Outotec, widely used across the lithium industry today. LiChem is able to recycle and reuse its reagents, resulting in less waste and environmental impact, according to its website.

GREEN FINANCE-

Opec Fund extends USD 50 mn loan to Acwa Power for Azerbaijani wind plant: The OPEC Fund has approved a USD 50 mn green loan to Acwa Power for the construction of its 240 MW Khizi-Absheron wind farm in Azerbaijan, according to a statement released on Thursday. Acwa Power had secured USD 196 mn in financing for the project from the European Bank of Reconstruction and development back in October. OPEC has also signed off on USD 205 mn in loans to help finance sustainable irrigation, climate action and innovation, green energy, and food security projects in Malawi, Armenia, Bangladesh, Nepal , Uganda, and Uzbekistan, according to a statement. Last year at COP27, ACG and the OPEC Fund for International Development committed to channeling USD 24 bn in climate financing by the end of the decade.

Sirius International Holding invests in Botanical Water Technologies: The UAE's SiriusInternational Holding has invested an undisclosed amount in the London-based Botanical Water Technologies, according to a statement released on Thursday. The investment aims to create new sources of drinking water, replenish aquifers, and bring relief to water-scarce regions in developing countries. This comes after Sirius launched earlier this month its Smart Sustainability Solutions (S3) climate company focusing on water scarcity and efficiency, circular economy, methane, and carbon.

EBRD may extend USD 35 mn loan to Egypt’s aiBank: The European Bank for Reconstruction and Development (EBRD) is looking to extend USD 35 mn in loans to the Arab Investment Bank (aiBank) to support small, and medium-sized enterprises (MSMEs) working on climate and agriculture initiatives, Ahram Online reported last week. If approved, USD 25 mn would go towards implementing climate and energy efficiency initiatives for households and companies, while the other USD 10 mn will be earmarked for on-lending to MSMEs in the agribusiness sector. The Green Climate Fund (GCF) is a co-financier for the former USD 25 mn loan.

AfDB boosts Tunisia’s water treatment sector with fresh EUR 82 mn loan: The African Development Bank Group (AfDB) has approved a EUR 81.9 mn loan to help finance Tunisia’s Treated Wastewater Quality Improvement Project For Climate Resilience Building, according to a statement released last week. The project will be implemented from 2024 to 2028.

About the project: The project involves upgrading Tunisia’s electromechanical and electrical equipment and using solar farms to power 19 wastewater treatment capacity across the country and ensure wastewater treatment standards comply with international requirements. The treated water will be used to seed more than 3k hectares of agricultural land around the planned water treatment facilities, the lender notes. The project should build resilience against climate change and is expected to improve the quality of life for around 670k people, according to AfDB.

AGRICULTURE-

UAE’sAl Dahra + Denmark’s Agreena to transition EU’s largest arable farm to regenerative agriculture: UAE-based agribusiness Al Dahra and Danish climate agritech company Agreena signed an agreement for a carbon offset initiative to turn 55k hectares of arable farmland in Romania — EU’s largest consolidated farm — towards regenerative agriculture, according to a statement released last week. The agreement comes as part of Agreena’s soil carbon offsetting program.

The details: The farm will adopt regenerative practices including maximizing the use of cover crops –plants used for soil protection and improvement – and minimizing soil disturbances like overgrazing, excessive pesticides, and tillage. Agreena will use IPCC -aligned scientific methodology and new technology to measure the farm's greenhouse gas reductions and CO2 removal. This will lead to the issuance of credible carbon removal credits within the world's largest voluntary carbon market standard, enabling support for funding the transition through regenerative farming.

EMISSIONS-

Gulf Air to launch carbon management initiative: Bahrain’s flag carrier Gulf Air is partnering with carbon offsetting platform Safa to offer passengers the option to voluntarily offset their carbon footprints by supporting a portfolio of high-impact carbon projects, according to a statement. Passengers can opt in when purchasing their tickets to offset their individual carbon footprint in accordance with global standards outlined by the International Air Transport Association (IATA).

OTHER STORIES WORTH KNOWING ABOUT THIS MORNING-

  • University of Sharjah to collaborate on green research with Honeywell: US-based conglomerate Honeywell signed an agreement with the University of Sharjah in the UAE to research sustainable and renewable energy, smart city technology, and environmentally friendly building design. The two will also work together on developing AI-based energy management systems for buildings, and creating sustainable educational programs in the university. (Wam)
  • IEA partners with Abu Dhabi to drive the UAE’s clean energy transition: The Abu Dhabi Department of Energy and the International Energy Agency will set decarbonization strategies and targets and implement green energy policies to drive renewable energy efficiency and low-emission technologies in Abu Dhabi. (Statement)
  • Sonasid receives certification to expand green steel supply to new markets: Moroccan long-steel producer Sonasid has received the Environmental Product Declaration certificate to produce high value added green steel from the International Organization for Standardization (ISO). The certification opens up new global markets and large-scale green projects for Sonasid. (Steel Orbis)
  • Iran + China to produce EVs: Six Iranian automakers — including the country’s two largest, SAIPA Automotive Group, and Iran Khodro Industrial Group — will collaborate with China to co-produce electric cars in Iran. Charging stations in Iran’s inner- and inter-cities areas are currently being rolled out, the country’s Deputy Minister of Industry said. (Tasnim News Agency)
  • Tunisia secures loan from AfDB to boost (green) wastewater treatment: The African Development Bank (AfDB) approved a loan of EUR 81.9 mn for Tunisia’s Treated Wastewater Quality Improvement Project, aimed at boosting wastewater treatment standards and incorporating renewable energy into the process. The project will be implemented between 2024-2028 and will benefit over 670k people. (Statement)
  • EBRD to boost Jordan's green economy: EBRD will extend a USD 15 mn green loan to finance Jordan's green economy including USD 3.75 mn in co-financing from the Green Climate Fund and up to USD 1.8 mn in incentive grants provided by the EU. (Al Mamlakah)
  • Oman's interconnection project begins operations: Oman Electricity Transmission Company (OETC) launched the first phase of its interconnection project on Thursday, which will connect 5 new stations including ones at Duqm. OETC has shut down 14 diesel plants, offsetting 474k tons of CO2 annually. (Oman News Agency)
  • Abu Dhabi gets a new EV bus fleet courtesy of ITC: UAE-based car dealership Al Khoory Automobiles signed an agreement to supply the Abu Dhabi Integrated Transport Centre with a fleet of its all-electric Yutong buses. (KhaleejTimes)
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