DEBT WATCH-

EBRD backs Turkish TEB Arval EV fleet expansion: The European Bank for Reconstruction and Development (EBRD) is lending EUR 50 mn to Turkey’s TEB Arval, according to a press release issued on Thursday. The financing will help the fleet leasing company acquire 1.2k EVs — including battery electric vehicles (BEVs) and plug-in hybrids (PHEVs) — to support decarbonization in the transport sector and help TEB Arval cut emissions and reduce reliance on fossil fuels.

GREEN INFRASTRUCTURE-

Saudi Arabia’s Umm Al-Qura Cement has signed an agreement with Saudi National Electricity Transmission Company to construct an electricity transmission station for the company’s Radwan-Taif plant, according to a disclosure on Wednesday on the Saudi Exchange. The 37.5 MVA station will support the cement company’s Liquid Fuel Substitution Program, which aims to reduce its liquid fuel consumption by 95% by 2030, Asharq Al Awsat reported back in 2023, citing the head of the program Mohammad Abdel Latif. The agreement is valid until the end of the year or the project’s completion.

MINING-

Jordan to start minerals mapping: Jordan’s Energy and Mineral Resources Ministry signed an MoC with Harmony Investments Company to advance geological surveying and mineral exploration across the country, according to a statement issued Wednesday. The agreement covers the use of drone technology to produce a minerals map of the country. The ministry is also in talks with four additional companies to finalize implementation agreements.

ALSO- The country is planning to open up southern Aqaba’s mining sites to private sector investors soon, AlGhad reported on Sunday, citing an Energy and Mineral Resources Ministry report. The investment push covers multiple sites including Wadi Mubarak, Jabal Bir Al Tank, Wadi Lebanon, and Wadi Omran that include a combination of zinc, copper, lead, iron, and tin. This year’s state budget earmarks JOD 1 mn for mineral exploration — up from a revised JOD 700k.

ELECTRIC VEHICLES-

Volkswagen to roll out first EV with Rivian tech: Automotive giant Volkswagen (VW) has unveiled a budget-friendly EV offering, dubbed ID. EVERY1, at a price tag of EUR 20k and a production date slated for 2027, according to a press release published on Wednesday. The ID. EVERY1 will be the first car to feature new software developed under VW’s JV with Abdul Latif Jameel-backed EV maker Rivian, Forbes reports. The vehicle’s newly-minted 70 kW motor will peg its top speed at 130 km/h, giving it a range of 250 km.

And that’s not all: The German carmaker is also rolling out a slightly pricier EV — the ID. 2all — at a price tag of EUR 25k, pencilled in for a 2026 release.

REMEMBER- VW raised its investment in Rivian to USD 5.8 bn late last year to establish a 50/50 joint venture leveraging Rivian’s tech to provide software services for other EV makers. Both companies had announced plans to roll out EVs that integrate such software prior to 2030.

STARTUP WATCH-

Emirates’ UICCA + MOEC partner to support climate startups: The UAE Independent Climate Change Accelerators (UICCA) and the Economy Ministry signed an agreement to support climate-focused startups through the Circular Economy Cycle of the UICCA Launchpad Program, according to a statement. The program — launching in May 2025 — will provide mentorship and resources for startups tackling waste management and circular economy challenges. The ministry will also help connect startups with investors and enhance regulations for green technologies.

If you have a startup — whether local or international — working in either of those areas, you can apply to the program here.

SOLAR-

#1- Amea breaks ground on USD 60 mn solar plant in Ivory Coast: The UAE’s Amea Power has broken ground on its 50 MW Bondoukou Solar PV Plant in Ivory Coast’s north-eastern Gontougo region, according to a press release issued last Friday. The USD 60 mn project — developed through AMEA’s local subsidiary Goutougo — is expected to generate 85 GWh of electricity annually, powering around 358k households and cutting over 52k tons of emissions each year. Financing is being provided by Dutch development bank FMO and Germany’s DEG.

The first, but definitely not the last: The Bondoukou plant is Amea’s first operational asset in Ivory Coast and supports the country’s plan to raise renewables’ share of the energy mix to 45% by 2030. The company is also moving forward with a second 50 MW solar project in the country, currently in advanced development.

OTHER STORIES WORTH KNOWING ABOUT THIS MORNING-

  • Alandalus + Emerge to partner on solar: Masdar and EDF Group’s JV Emerge has signed an agreement with Alandalus Property Company to develop 3.4 MW of solar installations to power the latter’s hotels and malls in KSA. The 10-year contract will see Emerge finance, design, build, and maintain the installations. (Press release)
  • Saray Immo + Empower partner on solar: Norway’s Empower New Energy has signed a USD 3.2 mn, 12-year solar power agreement to finance, construct, and operate two solar installations on buildings belonging to Moroccan industrial and logistics firm Saray Immo and its sister company Tanakoo.The plants will have a combined capacity of 5.8 MWp. (Morocco World News)
  • Tarshid brings solar to Qassim University: Saudi Arabia’s National Energy Services Company (Tarshid) has begun a solar panel installation project across Qassim University’s facilities with a capacity of 5.1 MW. The project will reduce annual carbon emissions by 4k metric tons. (SPA)
  • Ewec + Burjeel Holdings to bring renewables to healthcare: Emirates Water and Electricity Company (Ewec) has signed an agreement with healthcare provider Burjeel Holdings to power 22 of its facilities in Abu Dhabi and Al Ain with clean energy. The use of renewable energy will be verified using Clean Energy Certificates (CEC) issued by the Abu Dhabi Department of Energy to track the electricity produced. (Press Release.pdf )
  • Two EVs enter the Egyptian market: Chinese EV maker Zeekr’s local agent Egyptian International Motors has launched two of its EV models — the Zeekr 001 and Zeekr X — in Egypt. The company has priced the Zeekr 001 between EGP 2.7-3.3 mn, while the Zeekr X starts at EGP 2.1 mn. (Al Borsa)
  • EmiratesGBC + Expo City Dubai to cut CO2 in construction: EmiratesGBC has inked an MoU with Expo City Dubai to push sustainability efforts in the UAE’s construction sector. The two sides will work together to draft guidelines aimed at reducing CO2 emissions — with a focus on embodied carbon — during the construction of real estate projects. (Press release)
  • Parkin + Dewa to roll out EV chargers: Parkin and the Dubai Electricity and Water Authority are moving ahead with the first phase of their EV charging partnership, with new chargers set to go live in Dubai in 1Q 2025. DEWA will install AC chargers at key Parkin-managed sites, with each station serving two parking spaces. The rollout will target on-street parking in zones A and C. (Wam)
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