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Posted inAROUND THE WORLD

OPEC Fund funneled 75% of funding to climate-focused projects + Siemens Energy is after a full acquisition of Siemens Gamesa, PLUS: Mercedes plans a shift to EVs

Three out of four projects approved by the OPEC Fund for International Development (OFID) in 1Q 2023 were climate-focused, according to a statement released last week. OFID revealed its climate action investment strategy last September, aiming to channel 40% of all new financing into climate mitigation and resilience projects in the energy, smart city, food […]

Posted inCALENDAR

MARCH 2023 22-24 March (Wednesday-Friday): K.ey - The Energy Transition Expo, Rimini Expo Centre, Emilia-Romagna, Italy. 22-24 March (Wednesday-Friday): UN 2023 Water Conference, New York, NY, United States. 27-29 March (Monday-Wednesday): First Meeting of the Transitional Committee in Egypt focusing on Adaptation and Loss and Damage. APRIL 2023 6 April (Thursday): Arabia CSR Awards 2022 […]

Posted inWHAT WE’RE TRACKING TODAY

TODAY: Saudi Arabia’s Taqa establishes new JV to explore geothermal energy sources in the kingdom

Good morning, wonderful people. It’s finally Thursday, and we’re ready for the weekend. But first, we have a couple of key developments from Saudi Arabia. THE BIG CLIMATE STORY- KSA’s Taqa will form a JV with Iceland’s Reykjavik Geothermal to explore sources of geothermal energy in Saudi Arabia, and Saudi oil giant Aramco will work […]

Posted inGEOTHERMAL

KSA’s Taqa establishes JV with Icelandic Reykjavik Geothermal for geothermal exploration

KSA’s Taqa establishes JV to explore geothermal energy: The Industrialization andEnergy Services Company (Taqa) signed a joint venture agreement with Iceland’s Reykjavik Geothermal (RG) to establish the Taqa Geothermal Energy Company in Riyadh, according to a statement. The new JV will explore sources of geothermal energy in Saudi Arabia to build up a generation capacity […]

Posted inAmmonia

Aramco and Germany’s Linde join forces on ammonia cracking

Saudi oil giant Aramco signed a cooperation agreement with British chemicals company Linde to jointly develop ammonia cracking technology and establish a demonstration facility in northern Germany, according to a company statement. What’s happening at this new demonstration plant? The facility will be where the parties will evaluate the efficiency of Aramco’s ammonia cracking catalyst […]

Posted inKUDOS

GCC companies rack up innovation and sustainability awards

The Saudi Investment Recycling Company (SIRC) landed second on the Forbes list of the most innovative firms in environmental sustainability, according to a statement released this week. SIRC signed an agreement with Saudi Arabia’s state-owned National Agricultural Development Company (Nadec) last month to jointly recycle 400k tons of biowaste annually with the goal of converting […]

Posted inUncategorized

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Posted inCLIMATE IN THE NEWS

Iran’s lithium jackpot could net major FDI + The argument for floating solar panels on global water reservoirs

Could Iran’s latest discovery be the ticket out of sanctions? Iran could leverage its critical minerals mining potential to attract FDI and lift west-imposed sanctions, minerals economist Jamil Hijazi writes for Mining.com. As the renewables and EV industries gather steam globally, countries with lithium reservoirs like Iran — which recently announced the discovery of MENA’s […]

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