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Good morning, friends. We have big news from Egypt today and a couple of stories to note from other parts of the region. Let’s jump in. THE BIG CLIMATE STORIES- UAE’s Masdar, Infinity Power, and Hassan Allam Utilities signed a land allocation agreement with the Egyptian government for the 10 GW wind farm and KSA’s […]
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Posted inWIND
Masdar-led consortium inks land allocation agreement for 10 GW wind farm in Egypt
Masdar-led consortium secures land for mega wind farm in Egypt: UAE’s Masdar, Infinity Power, and Hassan Allam Utilities signed a land allocation agreement with the Egyptian government for the consortium’s planned 10 GW wind farm, according to a press conference aired on Egyptian state television yesterday (watch, runtime 37:05). The agreement comes eight months after […]
Posted inAmmonia
KSA’s SABIC ships 5k metric tons of low-carbon ammonia to Taiwan
Saudi chemical manufacturer SABIC Agri-Nutrients shipped its first 5k metric ton load of low-carbon ammonia to Taiwan, according to a statement. The shipment originated from Jubail and was shipped to the Taiwan Fertiliser Company (TFC). An expected date of arrival and details on whether the shipment is blue or green ammonia have not been disclosed. […]
Posted inUncategorized
Posted inINVESTMENT WATCH
Bahrain’s Investcorp could be setting up a climate-focused investment vehicle before COP28
A new climate-focused investment platform before COP28? Bahrain-based alternative asset manager Investcorp plans to have a new climate-focused investment platform up and running before COP28 kicks off in November, Co-CEO Rishi Kapoor told The National. The company is in the process of establishing the new climate-focused growth capital platform, which is “already beyond the initial […]
Posted inENERGY
EFG Holding-backed Ignis prepares to sell five solar plants
Ignis to sell EUR 300 mn of its solar portfolio: Spanish renewables developer Ignis Energia is selling five solar power projects worth some EUR 300 mn, reports Spanish newspaper Expansion in a story picked up by Reuters, with the renewable energy firm hiring investment bank Lazard to work on the sale. The portfolio of projects […]
Posted inCLIMATE IN THE NEWS
New tech for lithium extraction from brine will make the process more eco-friendly and efficient
Automakers using new tech to extract lithium from brine for use in EV batteries: As automakers set ambitious EV production targets that may require a 20-fold increase in lithium supply, companies are looking to shift from mining lithium from hard rock to mining it from brine, where the mineral is more abundant but less efficient […]
Posted inALSO ON OUR RADAR
Elec’Recyclage Tunisie’s waste management facility is coming online this week
Tunisia’s waste management facility coming online this week: Elec’RecyclageTunisie will launch its waste recycling facility in Tunisia by Friday in a ceremony that will be attended by European Bank for Reconstruction and Development (EBRD) First Vice President Jürgen Rigterink, according to a statement by the bank. The size of the new facility has not been […]
Posted inAROUND THE WORLD
Italy could be splitting up with coal earlier than expected and Germany has earmarked EUR 2 bn for Thyssenkrupp’s green steel plant
Italy could be axing the use of coal in 2024 — a year earlier than planned — if gas prices remain low, Reuters reported on Monday, citing statements by Environment Minister Pichetto Fratin. Fratin said natural gas — seen as the least polluting fossil fuel — would remain part of the country’s energy transition until […]