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SFE could invest in ACWA, Hassan Allam wind farm: The Sovereign Fund of Egypt (SFE) could acquire a minority stake in ACWA Power’s planned 1.1-GW wind farm in the Gulf of Suez. The wealth fund is considering making an investment in the facility under the terms of an MoU signed with the Saudi renewables developer […]
Author Archives: enterpriseam admin
Posted inEARNINGS WATCH
Tabreed reports 3Q2022 results
The UAE’s National Central Cooling Company (Tabreed) reported AED 159.3 mn in net income after non-controlling interest in 3Q 2022, up 3.2% y-o-y, according to the company’s financial statement (pdf). Revenues for the quarter rose 14.8% y-o-y to AED 683.8 mn. Tabreed’s 9M 2022 net income after non-controlling interest rose 3% y-o-y to AED 399.6 […]
Posted inALSO ON OUR RADAR
KSA will develop cryogenic carbon capture tech + Hydro Industries eyes wastewater treatment facilities in Egypt + Jordan, US setting up JV on solar production
KSA will develop cryogenic carbon capture tech: Saudi Arabia's King Abdullah University of Science and Technology’s (KAUST) signed an agreement with the Saudi Electricity Company to co-develop cryogenic carbon capture plants in KSA’s 605 MW integrated solar combined cycle power plant Green Duba, according to a company statement. What is cryogenic carbon capture? The process […]
Posted inON YOUR WAY OUT
Lush vertical forests to adorn Dubai skyscrapers
The Amazon rainforest comes to Dubai: Italian architect Stefano Boeri presented his Vertical Forest Dubai skyscraper project during COP27, according to a statement. The project would see the external faces of a 190 meter high skyscraper and another 150-meter-high tower covered in 2.6 k trees and 27k shrubs. The buildings will house hydroponic gardens and […]
Posted inCALENDAR
NOVEMBER 7-18 November (Monday-Friday): Egypt hosts COP27 in Sharm El Sheikh. 15 November (Tuesday): Hawkamah Annual Conference (Building Investor Confidence Through Governance), Dubai, UAE. 23-24 November (Wednesday-Thursday): Global Conference on Sustainable Partnerships, The Ritz-Carlton, Riyadh, Saudi Arabia. Deadline of bid submissions for the Ras Mohaisen – Baha – Makkah Independent Water Transmission Pipeline in Saudi […]
Posted inWHAT WE’RE TRACKING TODAY
TODAY: Frustrations arise at COP27 + Investors love their money more than climate (shocker)
Good morning, ladies and gentlemen. It’s day nine of the summit — and COP27 President Sameh Shoukry reminded delegates yesterday that there’s still a lot of work to be done. THE BIG CLIMATE STORY- Frustrations are rising as COP27 enters day nine with little consensus on how to deliver real progress on agreements and pledges […]
Posted inUncategorized
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Posted inRENEWABLES
Alcazar Energy II secures some USD 337 mn for renewables projects
UAE infrastructure investor Alcazar Energy reached a USD 336.6 mn first close for its second sustainable infrastructure fund, according to a company statement. The Alcazar Energy Partners II fund plans to invest in developing a portfolio of 2 GW worth of renewable energy projects across emerging markets, which will power up to 1 mn homes […]
Posted inCOP Watch
A peek at what a loss and damage agreement could look like + G7 launches small fund for climate emergencies
Here’s what a global agreement on loss and damage (read: climate finance for the developing world) could look like: The UN published a draft text (pdf) for a potential pact on loss and damage financing, giving us a first glimpse of what a global agreement on climate financing could look like. Loss and damage funding […]
Posted inMACRO PICTURE
Climate change poses a risk to Egypt’s long-term growth, says World Bank report
Climate change is set to cost Egypt some 2-6% of its GDP by 2060, further exacerbating the country’s development challenges, according to a report (pdf) from the World Bank, the International Finance Corporation (IFC), and the Multilateral Investment Guarantee Agency (MIGA). This figure is based on the impact climate change is expected to have on […]