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Neom achieves financial close on mega hydrogen plant: KSA’s Neom Green Hydrogen Company (NGHC) has achieved financial close with 23 local, regional, and international banks and financial institutions for its USD 8.4 bn green hydrogen facility, according to a statement. The ambitious project — said to be the world’s largest green hydrogen production facility — […]
Author Archives: enterpriseam admin
Posted inGREEN FINANCE
US, UAE, Japan, and South Korea extend funding for Romanian nuclear plant
The US and allies UAE, South Korea and Japan invest in Romanian nuclear plant: The Export-Import Bank of the US (Exim) alongside the UAE, South Korea, and Japan are looking to extend early stage financial support totaling USD 275 mn to fund the RoPower Nuclear S.A facility in Romania, according to a White House statement. […]
Posted inUncategorized
Posted inGREEN STEEL
Brazil’s Vale finalizes energy supply agreements and land allocation for green steel hub in Oman
Vale secures land and suppliers for green steel hub in Oman: Brazilian mining firm Vale finalized a land reservation agreement with the Port of Duqm Company for three production plants that will source materials essential to Oman’s low-carbon steel making industry, The Times of Oman reports. Vale also signed a separate non-binding agreement with Oman’s […]
Posted inEARNINGS WATCH
Ma’aden’s 1Q 2023’s net income plunges the back of lower commodity prices, surging raw materials
A 1Q to forget for Ma’aden: Saudi mining company Ma’aden saw its net income plunge 81% y-o-y in 1Q 2023 to SAR 419.4 mn on the back of higher costs for raw materials and lower commodity prices, according to a disclosure to Tadawul. Its revenues were down 10% y-o-y in the first three months of […]
Posted inCLIMATE DIPLOMACY
The UAE is looking to partner with Malaysia on renewables
The UAE wants to expand collaboration with Malaysia on clean energy: UAE Prime Minister Khaled bin Mohamed bin Zayed landed in Malaysia on Sunday where he met with counterpart Anwar Ibrahim to discuss exploring partnership opportunities in the clean energy sector, Wam reports. The two leaders want to expand cooperation in the transportation sector, though […]
Posted inCLIMATE IN THE NEWS
A Swiss firm is generating clean energy with the power of gravity
Gravity could be the new tech for generating electricity: Switzerland-based EnergyVault Holdings is close to completing one of the only systems in the world that generates electricity using gravity, company CEO Robert Piconi told Bloomberg last week. The project, built in China’s Rudong, will be completed by September and will be able to deliver up […]
Posted inALSO ON OUR RADAR
The UAE is eyeing USD 2 bn of investment opportunities in South Korea PLUS: KSA is lining up partnerships in mining with China
UAE sees big potential for investments in South Korea: UAE organizations have identified USD 2 bn worth of investments in projects in key sectors in South Korea, Yonhap News Agencyreported on Monday, citing a statement from South Korea’s Finance Ministry. The potential investments come days after a delegation of officials from four UAE-state owned funds […]
Posted inAROUND THE WORLD
Siemens Gamesa inks agreement to sell its stake in Spain’s Windar Renovables
Siemens will sell its share in Windar Renovables to the UK’s Bridgepoint: Siemens Gamesa signed an agreement to sell its 32% stake in Spain-based renewable semiconductor manufacturing firm Windar Renovables — owned by the Daniel Alonso Group — to London-headquartered private investment firm Bridgepoint, Reuters reports. The sale comes as the company pivots to focus […]
Posted inON YOUR WAY OUT
E-waste landfills could be an unexpected source of gold for jewelry
UK jewelry brand striking gold in e-waste landfills: UK sustainable fine jewelry brand Lylie is extracting gold from e-waste landfills and transforming it into high-end jewelry, according to an interview in The National with Lylie founder Eliza Walter. Lylie mines gold from unused electronic goods, which, according to estimates, could contain some 7% of the […]