Adnoc completes acquisition of Fertiglobe

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WHAT WE’RE TRACKING TODAY

TODAY: Adnoc finalizes Fertiglobe acquisition + Amea Power makes a Cox investment

Good morning, folks. It’s a finance heavy day with all the latest details on Adnoc’s acquisition of Fertiglobe along with news that Amea Power intends to invest in Spanish energy firm Cox’s upcoming IPO. First, let’s take a look at Google’s interest in nuclear power…

THE BIG CLIMATE STORY OUTSIDE THE REGION- Google throws support behind nuclear power: Tech giant Google has inked an agreement to purchase power from atomic energy company Kairos Power to meet the growing energy demand from data centers. This marks the first corporate agreement worldwide to buy nuclear energy from small modular reactors (SMRs) — compact, moveable, and easily assembled nuclear reactors with up to 300 MW power capacity per unit. The first SMR is set to come online by 2030, with additional reactor deployments following through to 2035, bringing up to 500 MW of clean energy to US grids.

Not everyone is a fan of SMRs: Critics argue that SMRs may still be expensive due to the lack of economies of scale from which larger plants benefit. Proponents believe that Google’s move can potentially offset this and “seed ” the industry’s growth. SMRs are also expected to generate long-lasting nuclear waste, and studies have found that waste from SMRs could actually be more voluminous and chemically or physically reactive.

COP WATCH-

The EU announces COP29 negotiation positions but swerves financing details: The European Union has announced its “negotiating position” for the COP29 summit, reaching a consensus that all countries need to contribute to achieving the new post-2025 climate finance goal without concrete details on how funds will be channeled to poorer nations, according to a statement. The summit, set to focus on transforming USD bns in climate finance into tns, aims to support emerging countries in climate transition and address increasingly extreme weather.

Shifting the responsibility? With many EU countries, including some of its biggest economies like France and Germany, facing severe budget deficits, the bloc is pushing for more contributions from the private sector and other nations, particularly China, to contribute more to the global climate finance effort, Bloomberg reports. The EU's call to expand the donor base highlights the ongoing challenges in securing adequate funding to meet the ambitious goals set by the international community.

WATCH THIS SPACE-

#1- Ewec is lining up a new wind farm: Emirates Water and Electricity Company (Ewec) has issued a call for an Expression of Interest (EOI) to develop the 140 MW Al Sila wind farm, according to a press release. The plant will have a capacity to power 36k homes and offset some 190k tonnes of CO2 annually. The deadline for submissions is 5 November.

Ewec has been busy: The company invited developers and consortiums earlier this month to submit an EOI for the development of the 1.5 GW Zarraf solar PV IPP in Abu Dhabi’s Al Dhafra Region. Masdar is also developing a 27 MW wind farm at Al Sila as part of the UAE's first wind program with a total capacity of 103.5 MW.

#2- Egypt’s SCZone gets ready to launch large-scale green hydrogen projects: Five large-scale green hydrogen projects will kick off construction within a year on five plots of land currently being prepared by the Suez Canal Economic Zone, the SCZone’s executive director told Al Mal. The projects should be completed within four years, Saad added.

The zone’s first water desalination public-private partnership is also set to be launched, which will be used to help produce green hydrogen in the zone, Saad added.

#3- Biodiversity on Wall Street’s radar for the first time ahead of COP16: The world’s biggest lenders — including JPMorgan, Standard Chartered, HSBC, Bank of America, Deutsche Bank, and Citigroup — are attending the UN’s COP16 biodiversity summit for the first time next week, Bloomberg reports. Investment in targeted biodiversity funds is limited, currently estimated at just USD 4 bn of volume, according to data by MorningStar Direct. Banks are having a change of heart as biodiversity rears financial potential, with “biodiversity-labeled funds” expected to outperform other green indices, such as the S&P Global Clean Energy Index close in 2024.

This is a necessary development: The UN had warned that private finance was essential to gather enough money to stop mass extinctions and the destruction of natural ecosystems. COP16 will gather negotiators to examine progress made on the 2022 Global Biodiversity Framework, which aims to reverse nature loss by 2030 — a feat that will require USD 700 bn per year — but so far, only 10% of participating countries have submitted required action plans.

Involvement is still ambiguous: Banks have not made any official commitments to nature and biodiversity financing just yet, and the world is far off from a global voluntary market similar to carbon markets due to a lack of mature frameworks, said the head of nature and biodiversity at JPMorgan Gwen Yu. JPMorgan, for example, is attending COP16 to see how biodiversity “fits into our book” and if there is client demand.

What would private biodiversity financing look like? Currently, biodiversity products include the public finance instrument debt-for-nature swaps — which is when governments refinance debt to then put it towards conservation — and the tactic has since expanded to private finance but remains at a low volume of USD 1.6 bn, according to Bloomberg data. However, there are signs of growth as more banks gain interest. Biodiversity credits are another option that involves addressing a company’s impact on biodiversity in a similar manner to the carbon credits concept.

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CIRCLE YOUR CALENDAR-

Egypt will host the World Urban Forum from Monday, 4 November to Friday, 8 November in Cairo. The forum, established by the UN and one of its largest non-legislative events, will center around the effect of rapid urbanization on communities, economies, climate change, and policies and will bring together government representatives, academics, business people, urban planners, and more.

South Africa will host the Critical Mineral Africa Summit from Wednesday, 6 November to Thursday, 7 November, in Cape Town. The summit aims to attract critical minerals investment to the continent and will be held alongside African Energy Week. The summit will be held in partnership with the Southern African-German Chamber of Commerce Partners representing Germany’s increasing investments in southern Africa.

Azerbaijan will host the United Nations Climate Change Conference or Conference of theParties (COP29) from Monday, 11 November to Friday, 22 November in Baku. The annual conference brings together governments, world leaders, and other stakeholders to advance the Paris Agreement and negotiate ways to fight climate change. The United Nations Framework Convention on Climate Change’s objective is to “stabilize greenhouse gas concentrations in the atmosphere at a level that would prevent dangerous anthropogenic interference with the climate system”.

Check out our full calendar on the web for a comprehensive listing of upcoming news events, national holidays and news triggers.

Adnoc completes acquisition of Fertiglobe, El-Hoshy staying on as CEO

Adnoc finalizes Fertiglobe acquisition: Abu Dhabi National Oil Company (Adnoc) completed its USD 3.62 bn acquisition of OCI Global's 50% +1 stake in Fertiglobe, the Netherlands-domiciled chemical producer, according to a press release (pdf) shared with EnterpriseAM UAE. The transaction increases Adnoc’s stake in Fertiglobe to 86.2%, with the remaining 13.8% in free float on the ADX.

El Hoshy to continue leading: Fertiglobe’s management team remains in place, with our friend Ahmed El-Hoshy staying on as CEO. El-Hoshy, who has led Fertiglobe since 2021, will step down from his twin role as CEO of OCI Global. “Positioned as the vehicle of ADNOC’s plans to establish a global growth platform for ammonia, Fertiglobe is poised to meet the increasing global demand for low-carbon solutions and bring us closer to a more sustainable future,” El Hoshy said.

What this means for Fertiglobe: Adnoc will “transfer its stakes in existing and future low-carbon ammonia projects to Fertiglobe at cost,” according to the statement. This includes two lower-carbon ammonia projects in Abu Dhabi and other global projects. The transfer is expected to add some 2 mn tonnes per annum (mtpa), more than doubling Fertiglobe’s current capacity of 1.6 mtpa. Once completed, the total sellable capacity for Fertiglobe will rise to 8.6 mtpa for ammonia and urea combined.

Aiming for the top five globally: The transaction marks a “milestone in our ambitious international chemicals growth strategy and our goal to become a top five chemicals player,” Adnoc Managing Director and Group CEO Sultan Ahmed Al Jaber said.

Fertiglobe is targeting USD 150 mn in incremental annual EBITDA by the end of 2025 and will outline its detailed growth strategy in 1Q 2025.

New board coming: A general assembly will take place on 24 October for shareholders to elect a new board, reflecting the updated shareholding structure.

If you invested in Fertiglobe at the time of its IPO, you did well: The company has approved a USD 150 mn dividend for 1H 2024 that’s payable this month. That will mean the company has doled our dividends worth more than USD 2.4 bn since IPOing in late 2021 — a figure it says is “one of the highest dividend yields and total return metrics in its sector.”

BACKGROUND- Adnoc obtained all necessary approval for the acquisition earlier this week. The two companies had signed a binding agreement for the sale of OCI’s Fertiglobe stake in December.

Fertiglobe has been busy: In December, it sent the world's first ISCC PLUS-certified green ammonia shipment to India from its Egypt facility. Recently, it secured a EUR 397 mn offtake agreement with Germany’s H2Global program to supply green ammonia to the EU from 2027 to 2033. The company signed a shareholder agreement to build a facility in the UAE to produce 1 mn tons of low-carbon ammonia annually, partnering with ADNOC-ADQ JV Ta’ziz, GS Energy, and Mitsui, and is exploring a green hydrogen project with Masdar and Engie.

Amea Power to invest in upcoming Cox IPO

UAE’s Amea Power will subscribe to Spanish energy and water utility company Cox’s upcoming IPO, according to a Cox press release (pdf). The IPO is expected to raise EUR 270 mn.

Who’s in? Amea Power is joining a group of cornerstone investors for the transaction. Others in the group include Morocco's Attijariwafa Bank, Spanish copper and aluminum production firm Cunext Group, Spanish businessman and Cox shareholder Alberto Zardoya, and Cox’s founder and primary shareholder, Enrique Riquelme.

Amea and Cunext have each inked binding agreements for their share purchases, the IPO advisors note. Cox, which has 3.6 GW of installed capacity in Latin America, Spain, and Africa, said last week it was planning to offer new shares in an IPO on the Madrid Stock Exchange.

Want to go deeper? Check out Cox’s IPO microsite here or its intention to float announcement here (pdf).

BACKGROUND- Amea Power signed power purchase agreements last month to develop USD 800 mn solar and battery energy storage projects in Egypt. Amea Power is working to secure USD 5 bn in capital to develop 5 GW of renewable energy capacity across Africa by 2030.

Researchers explore the use of nanotech in solar and water treatment

Green nanotech can give renewables a push: University of Sheffield r esearchers are pioneering sustainable applications with nanomaterials including silica and graphene to boost the performance of solar panels and water treatment, according to a study (pdf). The studies aim to support scalable, eco-friendly production processes by developing enhanced nanomaterials with minimized environmental impact.

How does this affect the green industry? Metal-based nanostructured materials have emerged as a promising solution for the increasing demand for clean and renewable energy sources. Nanomaterials are currently being used in commercial applications, including environmental remediation, sensors, and energy storage and conversion devices, and experts believe there is huge potential for expanding their applications.

About some of the nanomaterials: Silica, a compound of silicon and oxygen, is one of the most mass-produced nanomaterials globally. These tiny particles, often 10k smaller than the width of a human hair, outperform their larger counterparts, making them invaluable in materials science. However, their production usually involves hazardous chemicals, posing environmental challenges. Graphene is a single layer of carbon atoms arranged in a hexagonal lattice known for its excellent conductivity and has various applications in electronics, energy storage, and biomedicine. However, the process of producing it is quite energy-intensive.

The challenge: Despite widespread use, traditional manufacturing methods are energy-intensive and produce harmful waste. For Silica, the Sheffield team addresses these issues by developing bio-inspired silica, which mimics natural processes and can be made under mild conditions.

Similar efforts have been in the works: Researchers have also used plant extracts in nanoparticle synthesis, according to a study. These plant-based methods reduce toxicity and offer better control over the size and shape of the nanoparticles. Microbial synthesis of nanoparticles is another area gaining traction, with fungi and bacteria being used to produce metal nanoparticles through biotechnological methods. Due to their rapid growth and ability to survive in various environmental conditions, these microorganisms offer a cost-effective and sustainable alternative to traditional methods.

Saudi + Italy explore mining and renewables partnership

Saudi Arabia + Italy mull cooperation in several sectors: KSA’s Industry and Mineral Resources Minister Bandar Al Khorayef met with Italy’s Environment and Energy Security Minister Gilberto Fratin in Rome, where they discussed enhancing cooperation in mining, sustainability solutions, renewables and clean energy, according to a post on X. Fratin was also invited to attend the International Mining Conference set to take place in Riyadh early next year.

The pitch: Al Khorayef highlighted the Kingdom’s untapped mineral wealth, estimated at around USD 2.5 tn. He noted that the Kingdom offers investors access to 80 years of geological data through a digital platform, enabling them to make well-informed decisions when entering the minerals market.

Meeting private sector players: Al Khorayef met with Italian and global companies to explore the localization of EV manufacturing, and also to enhance cooperation in the aviation and shipbuilding industries. He held talks with officials from Swiss EV company Piëch, Saudi-based holding company Nimr, Italy-based shipbuilding company Fincantieri, and Italy-based tech player AlmavivA, according to another post on X.

Egypt + Djibouti sign agreement to build solar power plant: Egypt’s Ministry of Electricity and Renewable Energy has signed a deal with Djibouti's Ministry of Energy and Natural Resources to supply and install a 276.5 KW solar PV station, according to a statement. Egypt’s Ministry of Electricity and Renewable Energy aims to enhance cooperation, leverage Egyptian expertise in renewable energy, and expand training programs tailored to Djibouti’s needs.

Emirates Transport partners with Al Ghandi on solar-powered EV charging stations

ELECTRIC VEHICLES-

ET + Al Ghandi partner on EV charging: Emirates Transport (ET) and Al Ghandi Auto have partnered to install a solar-powered, off-grid EV charging station at Emirates Transport's head office in Dubai, Trade Arabia reports. The charging station, manufactured by Swiss tech firm ABB, can generate up to 22KW of power and charge a standard Chevrolet Bolt to 80% in around 1.5 hours.

The details: The trial period for the charging station will last six months, during which it will be available for use by staff and visitors. Based on the trial results, a decision will be made on whether to expand the station to include more charging points. The project marks the first time Al Ghandi Auto has installed a fully solar-powered charging station.

INVESTMENT WATCH-

Tunisia sets budget for environmental investment in 2025: Tunisia is allocating TND 20 mn (c. USD 6.5 mn) to support investments in the environmental sector in 2025, TAP reports. The initiative aims to support projects that promote sustainable development, optimize natural resource management, and protect ecosystems, especially those spearheaded by youth. The program will streamline investment procedures, create jobs in waste recovery, recycling, and green spaces, and encourage youth and start-ups to engage in the circular, blue, and green economy.

The UAE welcomed three new clean energy technology companies to its NextGenFDI program, Wam reports. The companies, based in the US and China, specialize in advanced energy storage and generation solutions. They include:

Enerflow, an expert in vanadium flow battery technology, extending battery life for clean-energy storage;
HyGreen Energy, a developer of water electrolysis hydrogen equipment for industries such as steel and petrochemicals;
Enpower Greentech, a producer of solid-state batteries, created in collaboration with automotive and eVTOL companies.

About NextGenFDI: Launched in 2022, the initiative aims to attract global high-tech firms in ICT, healthcare, and advanced manufacturing sectors to the UAE. The program offers fast-track setup and licensing, visa issuance, and access to financial services.

DIGITALIZATION-

Presight to create an AI tool for Masdar: Masdar has partnered with UAE’s big data analytics company Presight Presight to create an AI-based asset management tool to support the company’s governance of its massive global portfolio of renewable energy projects, according to a statement. The tool aims to collect and analyze the vast amounts of data generated daily by Masdar’s equipment, such as solar panels and wind turbines, to enhance efficiency and predict maintenance needs. Masdar hopes to reduce downtime and boost energy production by moving from a “reactive to a predictive” model.

Presight is expanding its client base: The company and Kazakh sovereign wealth fund Samruk-Kazyna inked an agreement to develop an AI supercomputer and data center cluster powered by green energy in Kazakhstan in February. It also signed MoUs with Japan's NEC and DeepTech Engineering to implement their floods and earthquake monitoring and detection tech into Presight's Emergency Response Management Platform last year.

Google signs agreement to purchase nuclear power

Vulcan’s owner to acquire Czech steel mill: India's Jindal Steel Group is acquiring 100% of Czech steel mill Vitkovice Steel, according to a statement. The acquisition includes a EUR 150 mn investment aimed at modernizing and expanding Vitkovice's production capabilities.

The two companies have history: The move comes after Jindal and Vitkovice Steel signed a binding MoU last Spring that would see Jindal supply the company with 1 mn ton of low-emission steel gates, an essential input in the production of green steel sheets to be made in Jindal’s subsidiary in Oman Vulcan Green Steel.

Jindal is active in the region: India's Jindal Steel Group subsidiary Vulcan Green Steel broke ground on Oman’s first green steel plant in the Duqm Special Economic Zone last year. The USD 3 bn plant will have a capacity of 5 mn metric tons annually. It also signed an agreement last year with OQ's renewables unit OQ Alternative Energy to establish a 3 TW integrated renewable energy generation project.

Germany selects first recipients of decarbonization subsidies: The German government has allocated EUR 2.8 bn (c. USD 3 bn) to support 15 industrial companies in their efforts to decarbonize their operations, Reuters reports. The companies, including BASF and Suedzucker, will receive 15-year subsidies to reduce carbon emissions in sectors like glass, paper, and chemicals. The subsidies will help keep energy-intensive companies competitive by covering the extra costs of green production and are set to offset some 17 mn metric tonnes of CO2.

This has been in the works: Germany launched the bidding process for subsidies worth EUR 4 bn to help energy-intensive industries transition to green production in March. Despite initial plans for larger subsidies, the program was scaled back due to legal constraints on government spending for climate projects.

OTHER STORIES WORTH KNOWING ABOUT THIS MORNING-

UN-backed platform to aid small farmers in meeting EU deforestation rules: The International Trade Centre (ITC) – a JV between the UN and the World Trade Organization – has launched the Deforestation Free Trade Gateway platform to advise small farmers in developing countries on how to comply with European deforestation rules. The move comes after calls from global industries and some EU and non-EU countries to reconsider the rules over concerns that they would “exclude” small-scale poorer farmers from the market, disrupt supply chains, and increase prices. (Reuters)
Brazil’s Petrobras + Vale eye decarbonization partnership: Brazil’s state-owned energy firm Petrobras is considering partnering with Brazilian miner Vale to help each other lower carbon emissions. The cooperation may include Petrobras providing the mining company with marine fuel and diesel, which the oil company currently produces with 24% renewable content and 5%, respectively. (Reuters)
Nearly two-thirds of EU’s water bodies are in poor condition: Water scarcity affects nearly a third of the EU's population annually, with two-thirds of the continent’s water resources in poor condition, a European European Environment Agency report (pdf) said. This rising water stress threatens key industries like textiles and agriculture, and amplifies the harmful impacts of extreme weather. (Financial Times)

Scientists breed coral that can tolerate the rising heat

Scientists at Newcastle University's Coralassist Lab have successfully bred coral to survive intense marine heatwaves for the first time, study lead Adriana Humanes told The National. Using an ‘assisted evolution’ technique called selective breeding, the program demonstrated it is possible to boost the heat tolerance of adult coral offspring in a single generation. The improvement was modest compared to prolonged heat waves and expected future marine heatwaves, scientists warned, cautioning that it is not a "silver-bullet solution" to protect reefs from climate change.

Tackling coral bleaching: Coral bleaching is caused by above-average sea surface temperatures which expel algae that feed the coral nutrients and give them their color. Climate-induced coral bleaching can lead to reefs’ death, while ocean acidification makes conditions unfavorable for growth. Earlier this year, the fourth and most extensive event of coral bleaching happened, on the back of 54% of corals experiencing a bleaching event last year.

Why this matters: Coral reefs are extremely important to their ecosystems as they harbor a quarter of ocean species throughout their lives, and protect fish and coasts from storms. Their value is estimated at USD 2.7 tn annually.

This is important for our region: Despite the resilience of corals in the Arabian Gulf, they are highly vulnerable to increasingly more intense marine heat waves, which can cause mass bleaching. The recent near-total bleaching event in the southern Arabian Gulf underscores the increasing frequency of such occurrences, giving corals less time to recover.

It’s still not a magical solution: Selective breeding could help improve coral survival amid rising marine temperatures, but a better understanding of coral reproductive biology and the potential trade-offs of such interventions are needed.

CALENDAR

OCTOBER 2024

13-17 October (Sunday-Thursday): Cairo Water Week, Cairo, Egypt.

15-16 October (Tuesday-Wednesday): Solar & Storage Live KSA, Riyadh, Saudi Arabia.

16-17 October (Wednesday-Thursday): Upscaling Investment on Small-Scale Renewable Energy in Rural Areas Forum, Tunis, Tunisia

17-19 October (Thursday-Saturday): Africa Solutions Week 2024, Rabat, Morocco.

25-27 October (Friday-Sunday): Al Sidr Environmental Film Festival, Abu Dhabi, UAE.

29-31 October (Tuesday-Thursday): Future Investment Initiative Conference, Riyadh.

NOVEMBER 2024

4-7 November (Monday-Thursday): Abu Dhabi International Petroleum Exhibition & Conference (ADIPEC), Abu Dhabi, UAE.

4-8 November (Monday-Friday): World Urban Forum, Cairo, Egypt.

4-8 November (Monday-Friday): AfricanEnergy Week, Cape Town, South Africa.

6-7 November (Wednesday-Thursday): Renewable Energy Forum Africa, Tunis, Tunisia.

6-7 November (Wednesday-Thursday): Critical Mineral Africa Summit, Cape Town, South Africa.

11-22 November (Monday-Friday): United Nations Climate Change Conference or Conference of the Parties (COP29), Baku, Azerbaijan.

11-14 November (Monday-Thursday): Abu Dhabi International Petroleum Exhibition & Conference, Abu Dhabi, UAE.

18-19 November (Monday-Tuesday): G20 Summit, Rio de Janeiro, Brazil.

19-22 November (Tuesday-Friday) Aquaculture Africa 2024, Hammamet, Tunisia.

26- 27 November: (Tuesday - Wednesday): World Food Security Summit, Abu Dhabi, UAE.

26-28 November (Tuesday-Thursday): Future Power Expo, Riyadh, Saudi Arabia.

26-28 November (Tuesday-Thursday): Egypt Energy Show, Cairo, Egypt.

27-28 November (Wednesday-Thursday): RAK Energy Summit, Ras Al Khaimah, UAE.

DECEMBER 2024

2-13 December (Monday-Friday): Conference of the Parties (COP16) to the United Nation Convention to Combat Desertification, Riyadh, Saudi Arabia.

3-4 December (Tuesday-Wednesday): MSGBC Oil, Gas & Power 2024 conference, Dakar, Senegal.

3-5 December (Tuesday-Thursday): World Energy storage Conference, Doha, Qatar.

4-6 December (Wednesday-Friday): International Conference on Smart Power & Internet Energy Systems, Abu Dhabi, UAE.

10-12 December (Tuesday to Thursday): International Mangrove Conservation and Restoration Conference, Abu Dhabi, UAE.

16-18 December (Monday-Wednesday): Saudi Arabia Smart Grid Conference, Riyadh, Saudi Arabia.

22-24 December (Sunday-Tuesday): Renewable & Sustainable Energies And Green Processes Conference, Sousse, Tunisia.

JANUARY 2025

12-15 January (Sunday-Wednesday): World Renewable Energy Congress, Manama, Bahrain.

14-16 January (Tuesday-Thursday): World Energy Summit, Abu Dhabi, UAE.

15-16 January (Wednesday-Thursday): Future Minerals Forum, Riyadh, Saudi Arabia.

18-19 January (Saturday-Sunday): Libya Energy & Economic Summit, Tripoli, Libya.

28-29 January (Tuesday-Wednesday): Sustainability Forum Middle East, Riyadh, Saudi Arabia.

FEBRUARY 2025

17-19 February (Monday-Wednesday): Egypt Energy Show, Cairo, Egypt.

23-25 February (Sunday- Tuesday): Global Water Energy and Climate Change Congress, Manama, Bahrain.

24-26 February (Monday-Wednesday): Connecting Hydrogen MENA, Dubai, UAE.

24-27 February (Monday-Thursday): Oman Climate Week, Muscat, Oman.

JUNE 2025

17-20 June (Tuesday-Friday): Mediterranean Water, Irrigation and Photovoltaic Exhibition, Tunisia.

EVENTS WITH NO SET DATE

2024

End-2024: Emirati Masdar’s 500 MW wind farm in Uzbekistan to begin commercial operations.

QatarEnergy’s industrial cities solar power project will start electricity production.

November: Arab Forum for Renewable Energy and Energy Efficiency, Amman, Jordan.

2025

International Union for Conservation of Nature World Conservation Congress, Abu Dhabi, UAE.

UAE to have over 1k EV charging stations installed.

Middle East Electric Vehicle Show, Sharjah, UAE.

2026

26-29 October (Monday-Thursday): World Energy Congress, Riyadh, Saudi Arabia.

UITP Global Public Transport Summit, Dubai, UAE.

Annual Meetings of the World Bank and the International Monetary Fund, Bangkok, Thailand.

1Q 2026: QatarEnergy’s USD 1 bn blue ammonia plant to be completed.

End-2026: HSBC Bahrain to eliminate single-use PVC plastic cards.

2027

MENA’s district cooling market is expected to reach USD 15 bn.

World Water Forum, Riyadh, Saudi Arabia.

2030

UAE’s Abu Dhabi Commercial Bank (ADCB) wants to provide AED 35 bn in green financing.

UAE targets 14 GW in clean energy capacity.

Tunisia targets 30% of renewables in its energy mix.

Qatar wants to generate USD 17 bn from its circular economy, creating 9k-19k jobs.

Morocco’s Xlinks solar and wind energy project to generate 10.5 GW of energy.

2035

Qatar to capture up to 11 mn tons of CO2 annually.

2045

Qatar’s Public Works Authority’s (Ashghal) USD 1.5 bn sewage treatment facility to reach 600k cm/d capacity.

2050

Tunisia’s carbon neutrality target.

2060

Nigeria aims to achieve its net-zero emissions target.

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Adnoc completes acquisition of Fertiglobe

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TODAY: Adnoc finalizes Fertiglobe acquisition + Amea Power makes a Cox investment

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Adnoc completes acquisition of Fertiglobe, El-Hoshy staying on as CEO

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Amea Power to invest in upcoming Cox IPO

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Researchers explore the use of nanotech in solar and water treatment

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Emirates Transport partners with Al Ghandi on solar-powered EV charging stations

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Google signs agreement to purchase nuclear power

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