GREEN HYDROGEN-

The Moroccan Agency for Sustainable Energy is in talks with 17 international companies to explore developing green hydrogen projects in the country, Al Arabiya reported on Thursday, citing Energy Transition and Sustainable Development Minister Laila Benali as saying at a parliamentary session. So far, discussions have covered 40 potential projects. Morocco wants to establish itself as a key producer and exporter of the fuel, allocating up to 1 mn hectares of land for renewable and hydrogen projects.

REMEMBER- Morocco has already tapped five investors earlier in March as possible developers for six green hydrogen projects with a total investment of MAD 319 bn (c.USD 33 bn). The selected companies include a consortium of American Ortus, Spanish Acciona, and German Nordex; the UAE’s Taqa, Spain’s Moeve, Morocco’s Nareva, Acwa Power; and a Chinese consortium of UEG and Three Gorges.

ELECTRIC VEHICLES-

Hyundai’s regional JV breaks ground on Saudi facility: Saudi Arabia’s PIF and Hyundai JV Hyundai Motor Manufacturing Middle East (HMMME) has broken ground on a new EV manufacturing plant in King Abdullah Economic City’s King Salman Automotive Cluster, according to a press release from Thursday. The manufacturing plant — set to be Hyundai’s first in the region — will produce both EVs and vehicles with internal combustion engines. Production is expected to begin in 4Q 2026, with plans to eventually reach an annual capacity of 50k.

MINING-

Amak secures three exploration licenses: Saudi-based Al Masane Al Kobra Mining Company (Amak) received three exploration licenses — following a successful bidding process in January — granting it base and precious metals exploration rights in Jabal Ad Dimah, Jabal Al Klah North, and Jabal Al Klah South until 2030, according to a disclosure to Tadawul.

The details: Amak’s licensed area will encompass over 300 sq km across the Makkah and Riyadh regions, containing potential silver, zinc, gold, lead, and silver ore reserves. The Riyadh region is close to Amak’s existing Radeniah East exploration concession.

SOLAR-

Jordan launches 50% subsidy program for solar water heaters: Jordan has rolled out a new national program to support households with solar water heater systems, offering 50% subsidies to low-income households, according to a statement published on Monday. The four-year program — with a budget of JOD 5 mn — is backed by a grant from Italy’s Environment and Energy Security Ministry and implemented in partnership with Jordan’s Renewable Energy and Energy Efficiency Fund (JREEEF).

What we know: The four-year program will install some 12k solar water heaters across all governorates. The program will run in parallel with an existing scheme offering 30% subsidies as JREEEF advances its target to deploy 90k units nationwide by 2035. Details on eligibility and the application process are available in the solar subsidy guidebook on the Energy Ministry’s website, the dedicated platform, JREEEF ’s socials, and at partner banks.

Sounds familiar? JREEEF signed 20 agreements last year to partner with charitable and cooperative associations in installing 4k solar energy systems and 5k solar heaters around the country.

GREEN FINANCE-

ADX-listed building materials manufacturer Emsteel rolled out its maiden green finance framework, according to a press release last week. The program will see it raise domestic and FCY-denominated capital through green bonds, commercial notes, and other ESG-linked instruments, the statement reads. Proceeds will be earmarked to finance and/or refinance eligible green projects, the statement said, adding that Moody’s assigned the framework a “Very Good” sustainability score.

ADVISORS- ING and First Abu Dhabi Bank acted as sustainability structuring bank banks, with ING in the lead.

GREEN AMMONIA-

AlexFert + United Energy to develop green ammonia project: Fertilizer producer and Egyptian Kuwait Holding subsidiary AlexFert has signed an MoU with Hong Kong-based renewables firm United Energy Group to develop a green ammonia project, according to a press release (pdf) issued last week. The project would be located near AlexFert’s existing operations in Alexandria, Egypt, and will generate green hydrogen that will be used to produce green ammonia.

Not their first venture in Egypt: United Energy Group inked an MoU with Air Liquide to develop green ammonia projects using green hydrogen in Egypt in March. It was also among the companies with which the government signed MoUs last year to develop green hydrogen and renewable energy projects worth USD 41 bn in the Suez Canal Economic Zone (SCZone). The company also signed an MoU with SCZone in 2023 to develop a USD 8 bn renewables-powered potassium chloride facility.

OTHER STORIES WORTH KNOWING ABOUT THIS MORNING-

  • OQ kicks off energy startup accelerator: Oman’s OQ Research, Development, and Innovation Center has unveiled the first batch of energy startups participating in its accelerator program. The batch includes 13 startups focusing on renewable energy efficiency, water sustainability and efficiency, and other energy ventures. (Times of Oman)
  • Jordan to achieve renewables target early: Jordan is set to achieve its target of 31% renewables in the energy mix by 2027-2028, earlier than the previous 2030 target. (Statement)
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