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Saudi Arabia and the Netherlands inked an agreement to increase cooperation in renewable energy and green hydrogen production, the Saudi Press Agency reported on Friday. The agreement also aims to link both countries’ supply chains on climate-focused tech, the news agency notes. Plans to establish KSA-EU green hydrogen corridor: Under the agreement, Saudi Arabia will […]
Author Archives: enterpriseam admin
Posted inEARNINGS WATCH
Tabreed’s 1Q 2023’s net income jumps on back of new customers and projects
A solid 1Q for Tabreed: The UAE’s National Central Cooling Company (Tabreed) reported a 169% y-o-y rise in net income in 1Q 2023 to AED 236.4 mn, on the back of gaining new customers and projects, its earnings release (pdf) showed. Its revenues were up by 10% y-o-y during the first three months of the […]
Posted inCLIMATE IN THE NEWS
Japan will trial vending machines that capture carbon inside cities
One of Japan’s top beverage makers plans to unroll a new vending machine that absorbs carbon from the atmosphere, Bloomberg reported last Thursday. The soft drink subsidiary of Tokyo-based Asahi Group Holdings plans to run a pilot phase of the machine — which houses a material that absorbs carbon dioxide as it takes in air […]
Posted inALSO ON OUR RADAR
Emirates airlines launches USD 200 mn R&D fund for sustainable aviation + Adnoc invests in green hydrogen tech
Dubai-based carrier Emirates has kicked off a USD 200 mn research and development (R&D) fund aimed at cutting emissions in commercial aviation, according to a statement released last Thursday. The funds — which will not include investments in sustainable aviation fuel offtakes or carbon credits — will be earmarked for research accelerating the adoption of […]
Posted inAROUND THE WORLD
Half of the money Australia is allocating to renewables is going toward hydrogen production PLUS: Microsoft is signing up for fusion-sourced electricity
Australia’s new budget keeps it in the global race to become a green energy superpower: Australia’s FY 2023-2024 budget report revealed that the government is planning to invest AUD 4 bn (USD 2.7 bn) to support the country in becoming a global renewable energy powerhouse, according to a statement. The AUD 4 bn represents initial […]
Posted inCALENDAR
MAY 2023 16-18 May (Tuesday-Thursday): Seatrade Maritime Logistics Middle East, Dubai, UAE. 19-21 May (Friday-Sunday): G7 Hiroshima Summit, Hiroshima, Japan. 22-24 May (Monday-Wednesday): IEEE Power and Energy Forum, Muscat, Oman. 25-27 May (Thursday-Saturday): Second meeting of the COP27 Transitional Committee, Bonn, Germany. 29-31 May (Monday-Wednesday): Electric Vehicle Innovation Summit, Abu Dhabi, UAE. 29-31 May (Monday-Wednesday): […]
Posted inWHAT WE’RE TRACKING TODAY
TODAY: Are Acwa Power, Alcazar Energy, and Infinity eyeing stakes in Egyptian wind farms?
Good morning, ladies and gents. The weekend is finally within arm’s reach, bringing a very busy week to a close, and the regional climate updates have not let up. Let’s jump right in, but first… We’re only four days away from meeting with some of you at the Enterprise Exports and FDI Forum, taking place […]
Posted inUncategorized
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Posted inM&A WATCH
Acwa Power, Alcazar Energy, and Infinity reportedly eyeing stakes in Egypt’s wind farms
Egypt’s wind farms may be getting some attention: Saudi Arabia’s Acwa Power, the UAE’s Alcazar Energy and renewables firm Infinity are reportedly among seven companies looking to bid for a stake in two of Egypt’s largest wind farms, Asharq Business reports, citing two anonymous sources it says are close to the matter. It is unclear […]
Posted inGREEN HYDROGEN
Fertiglobe, Masdar, Engie are exploring a world-scale green hydrogen project in Abu Dhabi
A new green hydrogen project in the UAE? A consortium of OCI-Adnoc joint venture Fertiglobe, UAE renewables player Masdar, and French energy group Engie is considering a green hydrogen project in Abu Dhabi, Asharq Business quotes Fertiglobe CEO Ahmed El Hoshy as saying. There are ongoing studies between the consortium for the 100-200 MW facility, […]