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Posted inUncategorized
Author Archives: enterpriseam admin
Posted inCOP Watch
COP27 kicks off with loss and damage financing formally on the agenda
Nations will discuss loss and damage financing for the first time at COP27: A “breakthrough” agreement allowing diplomats to officially debate for the first time who should pay for damage sustained by the countries most vulnerable to climate change was announced on the first day of COP27 yesterday. High drama: The agreement was hashed out […]
Posted inELECTRIC VEHICLES
Saudi’s local EV strategy moves full steam ahead
KSA enters JV with Taiwan’s Foxconn on EVs: Saudi Arabia’s sovereign wealth fund, the Public Investment Fund (PIF), has set up Ceer, a joint venture with Taiwanese multinational electronics contract manufacturer Hon Hai Precision Industry Company (Foxconn) to design, manufacture, and sell EVs in Saudi Arabia, according to a PIF statement last week. Introducing Ceer: […]
Posted inCARBON MARKET
Egypt’s stock exchange sets up company to manage carbon credit exchange
Egypt’s bourse forms carbon credit company: A subsidiary of the Egyptian Exchange (EGX) has signed an agreement with the Agricultural Bank of Egypt and Enara Group’s Libra Capital to establish Libra Carbon, the first Egyptian company to develop, manage, and issue carbon certificates, according to a joint statement. How will it work? The company will […]
Posted inM&A WATCH
Int’l consortium acquires Adnoc Refining’s waste management plants
Abu Dhabi-based ADQ, France’s Veolia Middle East, and KSA’s Vision Invest will acquire Adnoc Refining’s waste management operations, Adnoc Refining announced on Thursday. The consortium will own and operate two waste management plants built to treat and dispose of waste produced from Adnoc’s oil and gas extraction and refining processes in Abu Dhabi, according to […]
Posted inSOLAR
Acwa Power gets green light on floating solar plants in Indonesia
Tadawul-listed Acwa Power enters Indonesia: Indonesia’s state-owned electricity utility company PT Perusahaan Listrik Negara (PLN) has tapped Acwa Power to develop two floating solar PV solar projects worth USD 105 mn, according to a company statement. The details: The floating projects will yield 60 and 50 MW of AC power (MWac) each and will be […]
Posted inREGULATION WATCH
Egypt’s CBE issues binding sustainable finance regulations
The Central Bank of Egypt (CBE) has issued a series of binding regulations to promote sustainable finance, according to a circular (pdf) released last week. The regulations come in a bid to realize sustainable development goals after a recent bank survey indicated sustainable finance activities in banks needed to be bolstered by a “binding framework.” […]
Posted inEARNINGS WATCH
Acwa Power back in the black
Acwa Power reported SAR 341.7k in net income after Zakat and tax in 3Q 2022, reversing its net loss position of SAR 27k during the same quarter last year, according to its earning release (pdf). Revenues for the quarter came in at SAR 1.26 mn, remaining essentially flat y-o-y. The improvement in Acwa’s bottom line […]
Posted inUncategorized
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Posted inALSO ON OUR RADAR
Egypt’s SCZone could get investment wing + Morocco tests patented tech for renewables production
Egypt’s SCZone could be getting its own investment company: Egypt’s Suez Canal Economic Zone (SCZone) intends to set up an investment company to channel funds into the zone’s projects as part of a raft of measures designed to spur FDI, SCZone head Walid Gamal El Din said on Saturday. The board also discussed plans to […]