DEBT WATCH-

Tadweer + Ewec’s waste-to-energy project is getting a green loan: The UK’s Standard Chartered Bank will lead the financing for Abu Dhabi’s first large-scale waste-to-energy project, developed by Tadweer Group and Emirates Water and Electricity Company (Ewec), according to a press release. The bank will take on multiple roles for Tawdeer’s first green financing, including being the pre-bid lead bank, the documentation bank, the bookrunner, an initial mandated lead arranger, green loan coordinator, hedging bank, sole VAT lender, sole equity bridge loan lender, hedge bank, global facility agent, commercial facility agent, and offshore and onshore security agent, according to the statement.

About the project: The facility will process 2.7k tons of municipal solid waste daily, or 900k tons per year. It aims to divert 80% of Abu Dhabi's waste from landfills by 2030, saving up to 1 mn tons of CO2 annually. No value was revealed for the green loan. The project will be developed in collaboration with a Japan-based consortium.

GREEN POLICY-

UAE launches national green certificates program: The UAE’s Ministry of Energy and Infrastructure (MoEI) has kicked off its National Green Certificates Program aimed at fostering environmentally friendly building practices, according to a press release. The program establishes standards for energy efficiency, water management, indoor air quality, and sustainable materials in buildings. MoEI will also offer technical support and consultations to participating businesses to ensure sustainability standards are met. The initiative comes inline with the UAE’s National Demand-side Management Program (pdf) and National Green Building Regulation.

UAE signed four MoUs to set the program in motion: The MoEI inked four MoUs “to support the program,” the statement added. The first agreement was signed with First Abu Dhabi Bank to collaborate on green finance solutions for the built environment sector, the second with Aldar Properties for the implementation of green finance solutions and technical services, the third with Pact Carbon for assistance in accessing the global carbon credit market, and lastly with Meagle Energy for energy auditing, measurement, and verification services.

ALSO- Abu Dhabi launches Energy Efficiency Clubs: Abu Dhabi National Energy Company (Taqa) subsidiary the Abu Dhabi Distribution Company (ADDC) launched the Energy Efficiency Clubs initiative in collaboration with Agthia Group, Emirates Float Glass Company, and Arabian Gulf Steel Industries Company, Wam reports. The initiative aims to encourage unified sustainable action to increase energy efficiency and reduce costs and environmental footprint in Abu Dhabi by bringing industry leaders together through the joint platform.

WASTE MANAGEMENT-

Saudi allocates 11k sqm for waste processing facility: The Saudi Authority for Industrial Cities and Technology Zones (Modon) has partnered with Wazeen company to allocate an 11k sqm industrial land for a facility specializing in the treatment and recycling of hazardous medical waste, according to a statement. The SAR 28 mn facility will be located at Jeddah’s Third Industrial City.

Modon has been active: The company — a subsidiary of the Riyadh-based water treatment company Miahona — signed an agreement with Chinese solar equipment maker Arctech Solar to build a factory in Jeddah capable of making solar panels with 3 GW of annual production capacity in April. The two also partnered to develop a facility for the production of smart solar trackers and building-integrated solar photovoltaic systems in Jeddah's Second Industrial City in May.

OTHER STORIES WORTH KNOWING ABOUT THIS MORNING-

  • Jordan opens first fully EV charging station: Jordan inaugurated the kingdom’s first fully electric vehicle charging station in south Irbid. The country has plans to open additional charging stations in Irbid and other governorates. The Board of Commissioners of Energy and Minerals Regulatory Commission has already issued 350 permits for new stations. (The Jordan Times)
  • Oman is getting its first electric public bus soon: Oman's Mwasalat and the Oman National Transport Company will launch the sultanate’s first electric public bus after receiving funding from Al Maha Petroleum and Sohar International Bank. (Times of Oman)
  • EVs are picking up in Egypt: Egypt licensed a total of 430 electric vehicles in June including 90 Volkswagen EVs, followed by 71 Mercedes-Benz vehicles, 70 BMW vehicles, 51 BYD vehicles, and 14 Tesla and Kia vehicles each. (Ahram Auto)
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