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Good morning, friends. We have a finance-heavy (and altogether rather meaty( issue to kick off the week and some EV, decarbonization and sustainable aviation stories from the UAE and KSA. Let’s jump right in. THE BIG CLIMATE STORY- The OPEC Fund has raised USD 1 bn from a three-year sustainability bond that will be used […]
Author Archives: enterpriseam admin
Posted inCLIMATE FINANCE
OPEC Fund raises USD 1 bn from its first sustainability bond
OPEC Fund issues maiden sustainability bond: The Vienna-headquartered OPECFund for International Development has raised USD 1 bn from a three-year fixed-rate sustainability bond that will be used to finance or refinance sustainable development projects aligned with the fund’s goals, including renewable energy, it said in a statement on Friday. The sustainable bond — the OPEC […]
Posted inCLIMATE FINANCE
It’s confirmed: Masdar intends to issue its maiden green bond this year
Masdar aims to raise USD 750 mn in debut green bond sale: UAE clean energy firm Masdar plans to raise as much as USD 750 mn in a maiden green bond issuance to help finance its ambitious global expansion plans, Chief Financial Officer Niall Hannigan told Bloomberg at the Abu Dhabi Sustainable Finance Forum, confirming […]
Posted inCLIMATE FINANCE
New Africa-focused initiative to unlock USD 850 mn in funding for the continent
The Africa Renewable Energy Manufacturing Initiative (AREMI) will invest USD 850 mn towards the continent’s clean energy manufacturing capacity, according to a press release published last week. AREMI aims to boost climate business and investment to scale renewable energy on the continent, which it identifies as having a potential 1.2 TW of energy, increasing Africa’s […]
Posted inELECTRIC VEHICLES
UAE set to turbocharge its EV charging infrastructure
Abu Dhabi’s EV infrastructure is getting a boost: UAE fuel distribution company Adnoc Distribution — an Abu Dhabi National Oil Company (Adnoc) subsidiary — is partnering with Abu Dhabi National Energy Company (Taqa) to establish a joint venture called E2GO to build and operate electric vehicle (EV) infrastructure in Abu Dhabi and the wider UAE, […]
Posted inSUSTAINABLE AVIATION
The UAE wants to produce its own SAF with a little help from friends
UAE is ramping up efforts on SAF production: Masdar, Adnoc, Emirates Airways, and Tadweer will conduct a joint feasibility study with BP on the production of sustainable aviation fuels (SAFs) by using solid waste and renewable hydrogen, according to a statement. The study will also explore the possibility of producing other products including renewable diesel […]
Posted inDECARBONIZATION
We have another decarbonization announcement from Adnoc
Adnoc starts new rock-based carbon capture project: The UAE’s Adnoc has launched the world’s first project to sequester CO2 into a carbonate saline aquifer — basically rocks — and will begin capturing and storing the CO2 in 2Q 2023, according to a Wam statement. The project is initially targeting a minimum of 18k tons per […]
Posted inDECARBONIZATION
The UAE has its sights set on a lower-emissions methanol plant
UAE’s Ta’ziz signs agreement with Proman for USD 5 bn methanol production facility: State-owned Abu Dhabi Chemicals Derivatives Company (Ta'ziz) and Switzerland-headquartered Proman have signed a shareholders’ agreement to set up the UAE’s first “world-scale” methanol production facility, according to a statement released last week. AED 18 bn (over USD 5 bn) will be invested […]
Posted inRENEWABLES
KSA’s Acwa Power will develop Uzbekistan’s first green hydrogen and green ammonia projects
Acwa Power expands in Uzbekistan: Saudi Arabia’s renewables giant Acwa Power has signed terms of agreements with the Uzbek Energy Ministry and state-owned chemical company Uzkimyosanoat to build a green hydrogen plant and a green ammonia pilot project in Uzbekistan, the company announced in a statement. The projects would be the first of their kind […]
Posted inWASTE MANAGEMENT
UAE’s Tadweer inks agreements worth USD 545 mn in waste management
UAE’s Tadweer signs agreements for waste management efforts: The Abu Dhabi Waste Management Company (Tadweer) inked five agreements with UAE-based firms in the fields of waste management and transport totaling c.USD 545 mn, Wam reports. The MoUs cover waste collection and transport, refuse container management and maintenance, and road sweeping initiatives in the emirates of […]