ELECTRIC VEHICLES-

Infinity + SIACFM to deploy EV charging stations: Renewable energy firm Infinity has partnered with SIAC Assets & Facilities Management (SIACFM) to install and manage EV chargers at SIACFM's sites, according to a press release (pdf) on Thursday.

Infinity is boosting its infrastructure game: Infinity inked an agreement with Egyptian real estate developer Sodic last November to build EV charging stations across all of Sodic's developments in Egypt. The company also built at least 190 charging stations so far nationwide, with plans to increase that number to 300 by 2024.

BATTERY ENERGY STORAGE-

UAE’s Ewec lines up a new battery storage project: Emirates Water and Electricity Company (Ewec) is inviting developers to submit an Expression of Interest (EOI) for the development of a 400 MW Battery Energy Storage System (BESS) power project, according to a statement released on Thursday. Interested parties are requested to submit their EOI by the deadline of 22 March 2024. Ewec aims to reduce CO2 intensity from power generation by approximately 42% by 2030 and to increase its total solar power generation capacity to 7.5 GW by 2030.

Ewec’s on a roll: The company invited developers to submit expressions of interest for the development of the 1.5 GW Khazna solar farm last September. Ewec also tapped a consortium comprising France’s EDF and Korea Western Power (Kowepco) to develop the 1.5 GW Al Ajban solar IPP project for an estimated investment ticket of USD 748 mn last month.

GREEN TECH-

KACST to open AI center + boost semiconductor industry in Saudi Arabia: KSA’s King Abdulaziz City for Science and Technology (KACST) has signed agreements to establish a center of excellence in AI tech and to develop the country’s semiconductor industry, SPA reported on Thursday. KACST and AI Service provider SenseTime Middle East and Africa will establish the AI center together, while another partnership with the UK’s CDT International aims to elevate the semiconductor industry by enhancing manufacturing capabilities, training talent, and fostering research collaboration. The plans align with the objectives of the Saudi Semiconductors Program (SSP).

Semiconductors are a key component for clean energy sources: Semiconductor technology is used to maintain stable power delivery despite the intermittent nature of renewable energy sources like wind, solar, wave, and tidal power by controlling power generation and grid connection. They enable efficient energy conversion in renewable plants such as wind turbines and facilitate power transmission to the grid.

Saudi Arabia is looking to localize its renewables sector: PIF-owned sustainable-tech manufacturing company Alat and KACST announced last week a partnership to boost research, development, and innovation in the energy and and industry sectors in a bid to localize the semiconductor industry. Alat will provide industrial facilities and will collaborate with KACST on research and training.

Abu Dhabi-based AI outfit G42 has inked an MoU with Kenya’s EcoCloud to establish a 100 MW sustainable data center in Kenya, powered by geothermal energy, according to a statement released last week, which did not include an investment ticket or timeline for the project. The data center can later house up to 1 GW of capacity.

The details: The hub will be strategically located in Kenya’s geothermal-rich region, enabling it to be powered by geothermal energy, reducing reliance on fossil fuels and curbing carbon emissions. Aside from infrastructure investments, the partnership will also promote the development of cloud computing and AI services, in a bid to unlock growth and support the development of Kenya’s digital economy.

G42 is doubling down on data infrastructure investments in Africa: The company inked an agreement with Mauritania’s Digital Transformation, Innovation, and Modernization Ministry in mid-2023 to develop and improve the country’s national data center.

DEBT WATCH-

KSA’sAlkhorayef Water and Power Technologies (AWPT) has obtained a shariah-compliant facility worth SAR 536 mn from Al Rajhi Bank to finance its subsidiary Package 6 Co. for Environmental Services, it said in a disclosure to Tadawul last week. The funds will be directed to operation and maintenance contracts for sewage treatments plants in Riyadh.

STARTUP WATCH-

Zeroe gets seed funding boost from Voyagers: UAE-based climate tech company Zeroe has secured a seed funding boost from the Voyagers ClimateTech Fund taking its total raise to USD 2.3 mn, Wamda reports. The startup secured USD 2.2 mn in seed funding in November, in a round solely led by Indonesian investor Owen Rahadiyan. The funds will be used to support the company’s expansion plans in MENA and Southeast Asia.

About the startup: Established in 2022, Zeroe is a software platform designed to accelerate corporate decarbonization by automating the process of carbon accounting and facilitate easier access to capital for decarbonization efforts. We chatted with founder and CEO Farouk Jivani earlier this year.

Saudi food tech startup Barakah is eyeing a wider expansion to the GCC and in the region after landing fresh investment from European early-stage VC investor FoodLabs, co-founder and CEO prince Abdulaziz bin Al Saud told Asharq Business in an interview (watch, runtime: 2:38). “Our objective is to become the largest surplus marketplace in the Middle East and North Africa,” he said, without providing further details on the investment made by FoodLabs.

About Barakah: Launched in 2021, Barakah is an online marketplace that allows food and beverage retailers to sell their surplus products and meals through its platform in a bid to better manage food waste. It currently operates in six cities in Saudi, including Jeddah, Riyadh, Dammam, Khobar, Makkah and Madinah, according to its CEO.

Barakah has locked in agreements with over 800 retailers operating in the local market including Starbucks, Tim Hortons and Cinnabon, he said. It has managed to save over 350k meals in 15 months, he added.

GREEN FINANCE-

Morocco launches EUR 10 mn Just Transition project: Morocco has launched the EUR 10 mn Just Transition project to update its nationally determined contribution (NDC) and implement it in a socially responsible manner, MAP reported last week. The project will get funding from the German Federal Ministry for Economic Cooperation and Development and the European Union. The project also aims to help the private sector deal with the European Union's mechanism for adjusting carbon borders. The project was developed in cooperation with several international partners including the World Bank, the French Development Agency, and the EU.

OTHER STORIES WORTH KNOWING ABOUT THIS MORNING-

  • Jordanian + Palestinian companies sign renewables agreement: Palestinian company Jabreen Group and Jordan's Abu Al-Aynayn Company have signed an agreement to supply Palestinian companies with renewable energy. The agreement aims to provide energy solutions for Palestinian factories, reduce the cost of production and operation, and increase the competitiveness of Palestinian products in foreign markets. (Jordan News Agency)
  • Masdar + UAE Ministry of Defence cooperate on solar energy plants: UAE renewables firm Masdar has partnered with the UAE Ministry of Defence to develop solar power plants across Abu Dhabi. Emerge, a JV between Masdar and French utility company EDF Group, will provide a full turnkey solution for the projects for 25 years. (Statement)
  • Reaching net zero could add USD 1 tn to UAE’s GDP: The UAE's commitment to achieving net-zero emissions by 2050, supported by collaborative efforts between government entities and the private sector, could potentially boost its GDP by USD 1 tn, according to research by the Green Future Project. (Al Bayan)
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