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Oman’s Hydrom selects companies for three green hydrogen production plants: Oman’s state-owned hydrogen company Hydrom — owned by Energy Development Oman — signed three agreements granting the first three blocks of land for planned green hydrogen plants worth USD 20 bn, Oman News Agency (ONA) reported on Thursday. The three projects will have a cumulative […]
Author Archives: enterpriseam admin
Posted inINVESTMENT WATCH
Morocco takes the first step in establishing a USD 6.4 bn EV battery “gigafactory”
Morocco is getting a giant EV battery facility: Morocco has signed an MoU with Chinese battery maker Gotion High Tech to build a roadmap for setting up a gigafactory for EV batteries and energy storage systems, Maghreb Arab Pressreported last week. The project is part of an ambitious plan to localize EV battery manufacturing in […]
Posted inCAPITAL MARKETS
EV maker Lucid set to raise USD 3 bn, with KSA’s PIF contributing USD 1.8 bn
Lucid is getting more money from Saudi owners: EV maker Lucid Group plans to raise USD 3 bn through a common stock offering, with most the money coming from Lucid’s majority shareholder KSA’s sovereign wealth fund the Public Investment Fund (PIF), according to a statement released last week. The Saudi sovereign wealth fund owns a […]
Posted inCLIMATE FINANCE
UAE lines up climate financing from First Abu Dhabi bank + Mashreq
UAE get a climate financing boost: The UAE’s Industry and Advanced Technology Ministry has signed an MoU with First Abu Dhabi Bank (FAB) to unlock AED 5 bn in financing for investors in the industrial and advanced technology sectors, Wam reported on Thursday. FAB will provide financing solutions to back the adoption of advanced technology […]
Posted inDEBT WATCH
The UAE’s First Abu Dhabi Bank issues USD 600 mn five-year green bond
FAB pulls trigger on landmark green bond issuance: First Abu Dhabi Bank— the UAE’s largest bank— has issued a USD 600 mn five-year green bond, the bank said in a statement on Thursday. The issuance was the third successful public issuance in the USD market by the bank and the first by a MENA financial […]
Posted inDEBT WATCH
Spain’s Iberdrola partners with IFC to accelerate renewables roll out in emerging markets including Morocco
Morocco will get a boost in climate financing from Iberdrola + IFC: Spain’s Iberdrola and the World Bank’s International Finance Corporation (IFC) have partnered together to support the clean energy transition and decarbonization in developing economies including Morocco, according to a company statement. As part of the agreement, the two organizations will explore a green […]
Posted inCLIMATE DIPLOMACY
UAE and Brazil talk renewables at BRICS Friends meeting in Cape Town
UAE + Brazil to partner in renewable energy, climate action: Emirati Foreign Affairs Minister Abdullah bin Zayed Al Nahyan and his Brazilian counterpart Mauro Vieira discussed partnerships in renewable energy and climate action during a BRICS meeting in South Africa, Wam reported on Friday. The meeting brought together senior officials from over a dozen countries […]
Posted inMOVES
The WMO votes in its first Arab meteorologist president
UAE lands WMO presidency: The UAE has been tapped for the presidency of the World Meteorological Organization, with its National Centre of Meteorology (NCM) head Abdulla Al Mandous (LinkedIn) elected as the new head of the WMO for a four-year term, Wam reported on Thursday. Al Mandous, who secured 98 votes from the WMO’s 193 […]
Posted inALSO ON OUR RADAR
A green Suez Canal by 2030? PLUS: KSA’s RVCMC set to host the world’s largest voluntary carbon credit auction
The Suez Canal will be a “green canal” by 2030, Suez Canal Authority (SCA) Chairman Osama Rabie said during a meeting with International Maritime Organization Secretary-General Kitack Lim on Thursday, according to a statement. The SCA intends to power 16 monitoring stations using new and renewable energy and convert its fleet to operate on natural […]
Posted inAROUND THE WORLD
Solar power surpasses coal plant power generation in Europe, but there’s a catch
Solar power exceeds coal in Europe, but not without problems: Solar panels in Europe generated more power in May than all of the bloc’s coal plants for the first time, yet the step forward exposed shortcomings within the bloc, Bloomberg reported on Saturday. An inconsistency between supply and demand during some of the month’s sunniest […]