Ceer awards awarded a USD 1.3 bn construction contract for EV complex

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WHAT WE’RE TRACKING TODAY

TODAY:

Good morning, friends, and a happy Ramadan to you all. We have a fairly meaty issue this morning with updates from around the region and beyond, beginning with big news from KSA…

THE BIG CLIMATE STORY- Saudi Arabia’s first EV brand Ceer expects to complete works at its electric vehicle complex within two years and has awarded a USD 1.3 bn construction contract for the complex to local contractor Modern Building Leaders

^^ We have the details on this story and more in the news well, below.

THE BIG CLIMATE STORY OUTSIDE THE REGION- The EU Environment Agency has warned countries across the continent to brace themselves for "catastrophic risks,” ranging from floods to fatal heatwaves, on the back of worsening climate change in its first Europe-wide analysis of climate-related risks. The agency urged policymakers to devise ways to overcome the systematic challenges poised to batter societies including more extensive ins. coverage, infrastructure overhaul, and protective legislation to protect laborers. The story was picked up by Reuters and The Financial Times.

WATCH THIS SPACE-

#1- We have an investment ticket for Scatec’s new Egypt solar project: Norway's Scatec is investing USD 1.1 bn to build a 2 GW solar project in Egypt’s Qena — up from the initial 1 GW reported last month,according to a statement published last week. The project will be established near the aluminum factory in Nagaa Hammadi and will provide clean energy for the industrial complex. The project will allow EgyptAlum to convert to greener production at its factory in Naga Hammadi to facilitatesexports it to European countries.

What we know: The first 500 MW phase of the project will be completed within 18 months, while the second phase is set to wrap up within two years. Scatec will finance the project, conduct studies, build the plant, and install the needed equipment.

#2- Yemen has kicked off trial operations at its inaugural 120 MW solar power plant in Aden last week, Aden governor Ahmed Lamlas said in a statement last week. The trial operations will see the power plant generate between 20-30% of its operational capacity, with commercial operations set to commence within the next three months.

#3- Kuwait explores blue hydrogen production: The Kuwait Oil Company (KOC) is carrying out feasibility studies to explore blue hydrogen and ammonia production, state media outlet Kuna reported on Thursday, citing comments made by KOC deputy CEO Amina Rajab. The studies are looking to compare several methods of carbon capture from hydrogen production — including steam methane reforming (SMR), autothermal reforming and partial oxidation — with the aim of producing 1k tons of blue hydrogen daily. The feasibility studies were launched in line with KOC’s five initiatives aimed at slashing the country’s CO2 emissions and achieving carbon neutrality by 2050.

#4- Aramco + Adnoc are eyeing lithium mining from brine: The UAE’s Abu Dhabi National Oil Company (Adnoc) andKSA’s Aramco — the largest national oil exporter in the world — are looking to profit off the EV industry by extracting lithium from brine in their oil fields, Reuters reported Friday, citing sources with knowledge of the matter. The two oil companies are reportedly in the early stages of extracting lithium — a key component in EV battery production — although the type of direct lithium extraction (DLE) technology was not specified. American oil giants ExxonMobil and Occidental Petroleum are also aiming to utilize new technologies to extract lithium from brine.

#5- EU nations exit energy charter treaty: EU countries have collectively decided to withdraw from the 1998 Energy Charter Treaty (ECT) due to concerns that it undermines efforts to combat climate change, Reuters reported on Thursday. The final decision is now awaiting approval from the European Parliament. The UK pulled out of the ECT last month, following in the footsteps of several other European countries — including Denmark, France, Germany, the Netherlands, Poland, and Spain — who announced plans to depart from the treaty over its strong protections of fossil fuel projects. Italy withdrew from the ECT in 2015.

Attempts to retain members with an updated treaty: The EU Commission attempted to leave room for member states to remain in an “updated version” of the ECT last year. Countries like Cyprus, Slovakia, and Hungary had signaled preference to remain in a modernized version of the energy treaty to remain in the accord.

#6- HD Hyundai sets up maritime nuclear energy watchdog: South Korea’s HD Hyundai Shipbuilding & Offshore Engineering revealed that it has established a London-based international regulatory body — called the Nuclear Energy Maritime Organization (Nemo) — aimed at regulating and standardizing the deployment, operation and decommissioning of nuclear energy within the maritime sector, Business Korea reports. Comprising 11 founding nuclear companies from seven countries, the organization will collaborate with the International Maritime Organization and the International Atomic Energy Agency (IAEA) to “serve as a cornerstone to advance the era of offshore nuclear power,” Nemo’s inaugural chairman and IAEA’s former safety division head, Mamdouh el-Shanawany said.

#7- South Korea is set to become the first Asian country to offer carbon-linked financial products to retail investors, Bloomberg reported on Thursday. In collaboration with Korea Exchange and local securities firms, South Korea’s Environment Ministry announced that it will launch exchange-traded notes (ETNs) linked to carbon allowances by August this year. This comes in efforts to boost the country’s emissions trading market beyond only corporate polluters and brokerage firms, allowing retail investors to gain exposure to the market and hedge against price volatility.

What are ETNs? ETNs are types of unsecured debt securities or bonds that track an underlying index of securities and trade on a major exchange like a stock. ETNs pay out based on the performance of an underlying index, in this case the carbon market. The financial product can increase liquidity and participation in the carbon market, which has been struggling with low prices and oversupply of permits since 2015.

Paving the way for more carbon market expansions: The ministry also plans to introduce exchange-traded funds (ETFs) and a futures contract for carbon allowances by 2025, following the example of the European Union, which has the most developed cap-and-trade system in the world. The ministry will also revise the rules of the carbon market to reduce the number of free allowances and raise the share of auctioned permits from 2026.

COP WATCH-

COP29 host Azerbaijan is prioritizing its green sector: In response to criticisms over oil producing Azerbaijan being selected to host COP29, the Central Asian country is looking to prove how it has prioritized green growth and “demonstrate how the country turned the economy to the green direction,” soon-to-be COP29 president and Azerbaijan’s Ecology and Natural Resources Minister Mukhtar Babayev told The Financial Times. Babayez also defended the country’s selection by stating that the country is “vulnerable” to climate change and suffers from climate impacts such as water shortages and land degradation. Azerbaijan has been upping its efforts to reel in investments in its green sector, and has successfully secured agreements and inaugurated projects in partnership with the UAE and its renewables firm Masdar, amongst other regional players.

ICYMI- Azerbaijan under fire for fossil fuel expansion plans: Azerbaijan plans to expand its natural gas output by a third, to reach 49 bn cubic meters a year within nine years. The Central Asian country’s goal to ramp up exploration and production of the highly polluting fuel is expected to cost fossil fuel companies some USD 41.4 bn.

DANGER ZONE-

#1- More record breaking high-temperatures in Feb: February 2024 marked the warmest February on record globally, with an average surface air temperature of 13.54 °C, surpassing the previous record set in 2016, according to research by the EU's Copernicus Climate Change Service. It also marked the ninth in a consecutive trend of warmest months on record, as temperatures hit 1.77 °C above pre-industrial estimates. European temperatures were 3.30°C above average and global sea surface temperatures also set a new record at 21.06 °C, up from the previous record of 20.98 °C in August 2023.

A weakening El Niño is not enough to lower temperatures: El Niño is growing weaker but its effects are expected to continue to fuel above average temperatures worldwide in the next few months. There is a 60% chance that the El Niño phenomenon will persist from March until May and an 80% chance of neutral weather patterns between April to June, according to the study.

#2- The aviation industry is “likely to miss the 2050 net zero target,” former chief executive of Amsterdam’s Schiphol airport Ruud Sondag told The Financial Times, due to the industry’s continued expansion in airfleets — projected to increase by 28% globally by 2034 to reach 36.4k aircrafts — at a rate faster than the commercialization of sustainable aviation fuel or other green alternatives. The industry will fail to achieve the targets stipulated in the Paris Agreement unless European governments intervene by raising taxes or imposing caps on flights, according to Sondag, who urged that “we need to do something. And if that’s a standstill [in air travel growth] for the time being. [Then] Okay.”

#3- EVs won’t be the holy grail of green auto infrastructure: Despite hopes being pinned on EVs to help reduce climate pollution around the world, a global transition to using an all-EV fleet would “perpetuate the worst impacts of cars and auto infrastructure,” ranging from deaths to noise pollution to fossil fuel emissions, Bloomberg reported last week, citing a recent study published in ScienceDirect. The study concludes that since the worst of “car harms,” such as deaths and environmental impacts are, in part, the result of “the system prioritizing speed over safety,” switching to EVs is unlikely to fix the problems that are built into the transportation system and mobility infrastructure.

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CIRCLE YOUR CALENDAR-

The UAE will host the World Future Energy Summit from Tuesday, 16 April to Thursday, 18 April in Abu Dhabi. The summit will address solutions for development in the transformation of future energy systems. The summit will also feature discussions on recycling, waste-to-energy, and air-to-water trends and progressions.

The UAE will host the Connecting Green Hydrogen MENA event from Tuesday, 23 April to Thursday, 25 April in Dubai. The event will explore green hydrogen partnerships, policies, and practices in the region, in parallel to a showcasing of the latest in the clean fuel’s technology.

Oman will host the Oman Sustainability Week from Sunday, 28 April to Thursday, 2 May in Muscat. The event will focus on exploring investment opportunities and implementing best practices in sustainability within the energy, water, and environmental sectors.

The UAE will host The Electric Vehicle Innovation Summit from Monday, 20 May to Wednesday, 22 May in Abu Dhabi. The event will see industry leaders come together to discuss sustainable mobility and tapping into groundbreaking advancements in electric vehicles while engaging with key decision-makers.

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

Ceer awards construction contract for EV complex + establishes a timeline to launch

Saudi Arabia’s first EV brand Ceer expects to complete works at its electric vehicle complex within two years, Chief Public Relations Officer Mohammed Abuazzah told Al Arabiya in an interview yesterday (watch, runtime: 6:59). He refrained from providing an exact figure for the plant’s production capacity but said it was estimated in the multiples of 100k of vehicles. Ceer awarded a SAR 5 bn (USD 1.3 bn) construction contract for the complex to local contractor Modern Building Leaders last week.

What we know: Located in King Abdullah Economic City (KAEC), Ceer’s EV complex will span over 1 mn sqm, with a bit more than half of that figure being under a roof. It will include press, body, and paint shops, as well as a general assembly line, it said. The complex will also include zones for logistics, waste management, storage, offices, water treatment, and a vehicle testing track.

About Ceer: The company is expected to contribute USD 8 bn to GDP by 2034 and to be a magnet for more than USD 150 mn in foreign direct investment. Ceer’s EVs are expected to hit the market in 2025. It will license component technology from BMW in the development process.

The Apple connection: Creer is a JV between the Public Investment Fund and Taiwanese multinational electronics contract manufacturer Hon Hai Precision Industry Company, or Foxconn. Foxconn is best known as the largest maker of Apple iPhones.

Lucid is already in the first days of assembly here: US EV manufacturer Lucid — in which the PIF owns a 60% stake — inaugurated in September its first overseas production facility in KAEC. It plans to produce 155k EVs yearly in the Kingdom once it hits full capacity here in 2025.

Egypt releases registration and delisting rules for its carbon market

Another step forward for Egypt’s VCM: Egypt’sFinancial Regulatory Authority (FRA) has issued the registration and delisting rules for companies looking to sell certified carbon credits on the EGX, according to a statement released on Thursday.

Breaking down the rules: Applicants must submit a request to the FRA for their carbon emission reduction projects to be registered in its database, including necessary documentation such as environmental impact assessment studies, design documents, evidence of registering on voluntary carbon registers, and other verification reports.

Carbon certificates can be traded on the stock exchange once projects are officially registered, the statement added. This requires a separate process of providing details of the name and identification code of the project, its geographical location, the name of its developer, and its time period. The applicant will also be required to disclose the methodology used to issue certificates, the number of certificates issued, the number of certificates that will be traded on the exchange, and its initial price. A committee will issue its decision within five working days from submission. The applicant must open an account with a licensed settlement and clearing company to be eligible for consideration.

Regulation for carbon credit futures contracts were also announced: Under the new regulations,companies that own or finance projects aimed at reducing carbon emissions are eligible to apply for futures contracts, the statement notes. Similar to the process of stock exchange issuance, requirements for registering forward contracts for carbon reduction certificates include the submission of an application to the stock exchange with the project’s details in addition to the contracting and delivery obligations, according to FRA.

SOUNDSMART- What are carbon credit futures? Carbon credit futures are a financial instrument that allows buyers to support carbon reduction projects without immediate direct investments. It mitigates investment risk by allowing two parties to trade carbon credits at a specific date and price in order to avoid fluctuating prices in the future. Carbon credit futures contract physically delivers carbon credits, with each futures contract being equivalent to 1k carbon credits generated from projects that protect natural ecosystems.

We knew this was coming: The FRA completed the regulatory framework for the voluntary carbon market in late February pending cabinet review. The state’s financial regulator also authorized three bodies to verify projects that claim to reduce carbon emissions to launch the voluntary carbon market earlier last month. The new regulator's mandate included establishing a rulebook outlining the requirements for issuing carbon credits, mapping out the greenhouse gas disclosure schemes companies would have to follow to verify their carbon output, and setting out the criteria for selecting verified carbon crediting bodies.

Saudi Marafiq posts 38% y-o-y drop in bottomline for 2023

Marafiq still in the red: Saudi Public Investment Fund-backed Power and Water Utility Company for Jubail and Yanbu (Marafiq) saw its net income plunge 38% y-o-y to SAR 526 mn in 2023, while revenues inched down 1.8% y-o-y to SAR 6.4 bn over the same period, it said in a disclosure to Tadawul.

What’s behind the fall? The firm attributed the sharp decline in net profits to the 74% increase of its financing costs and a 1.78% y-o-y fall in its revenues, which it explains comes as a result of decreased demand for power from some major customers in Yanbu Industrial City, and despite the increase in revenues from its water and gas sectors.

ICYMI- Marafiq recorded a 39.2%y-o-yfall in net income in 3Q to SAR 188 mn, also on the back of an increase in financing costs and a decrease in the company's operating revenues.

About Marafiq: Marafiq is the power and water utility company for the Saudi cities of Jubail and Yanbu. It has core businesses in seawater cooling, desalination, and waste treatment and management. Saudi Arabia’s Public Investment Fund (PIF) postponed in October the potential sale of its remaining 17.5% stake in the utility firm on the back of weak demand from investors. Marafiq’s IPO was 6.32x oversubscribed in 2022, closing with almost SAR 6.37 bn (USD 1.7 bn) worth of total orders.

Morocco + US to cooperate on environmental and sustainable development

US signs green action plan with Morocco: Morocco’s Minister of Energy Transition and Sustainable Development Leila Benali and US Ambassador to Morocco Puneet Talwar have inked an agreement to cooperate on the environment and sustainable development between 2024 to 2027, MAP reported on Thursday. The plan focuses on environmental laws, climate change, biodiversity conservation, and environmental education. The agreement also aims to engage Moroccan citizens in major environmental projects.

KSA + Kazakhstan team up on renewable energy: Saudi Energy Minister Prince Abdulaziz bin Salman signed an executive cooperation program agreement with Kazakh Energy Minister Almasadam Satkaliyev to develop renewable energy projects in Kazakhstan, SPA reported on Thursday. Under the umbrella of an MoU on energy cooperation signed in June 2023, the cooperation program is geared toward advancing energy security and tackling climate change impacts in both nations by implementing projects in the fields of green energy storage and production.

REMEMBER- KSA has been upping its investments in the central asian country: KSA’s renewables giant Acwa Power signed an agreement with Kazakhstan’s Sovereign Wealth Fund (Samruk-Kazyna) and the Kazakh Energy Ministry to build and manage a 1 GW wind farm and a battery energy storage (BESS) facility last year.

Infinity partners with SAICFM on charging infrastructure and Ewec lines up a new battery storage project

ELECTRIC VEHICLES-

Infinity + SIACFM to deploy EV charging stations: Renewable energy firm Infinity has partnered with SIAC Assets & Facilities Management (SIACFM) to install and manage EV chargers at SIACFM's sites, according to a press release (pdf) on Thursday.

Infinity is boosting its infrastructure game: Infinity inked an agreement with Egyptian real estate developer Sodic last November to build EV charging stations across all of Sodic's developments in Egypt. The company also built at least 190 charging stations so far nationwide, with plans to increase that number to 300 by 2024.

BATTERY ENERGY STORAGE-

UAE’s Ewec lines up a new battery storage project: Emirates Water and Electricity Company (Ewec) is inviting developers to submit an Expression of Interest (EOI) for the development of a 400 MW Battery Energy Storage System (BESS) power project, according to a statement released on Thursday. Interested parties are requested to submit their EOI by the deadline of 22 March 2024. Ewec aims to reduce CO2 intensity from power generation by approximately 42% by 2030 and to increase its total solar power generation capacity to 7.5 GW by 2030.

Ewec’s on a roll: The company invited developers to submit expressions of interest for the development of the 1.5 GW Khazna solar farm last September. Ewec also tapped a consortium comprising France’s EDF and Korea Western Power (Kowepco) to develop the 1.5 GW Al Ajban solar IPP project for an estimated investment ticket of USD 748 mn last month.

GREEN TECH-

KACST to open AI center + boost semiconductor industry in Saudi Arabia: KSA’s King Abdulaziz City for Science and Technology (KACST) has signed agreements to establish a center of excellence in AI tech and to develop the country’s semiconductor industry, SPA reported on Thursday. KACST and AI Service provider SenseTime Middle East and Africa will establish the AI center together, while another partnership with the UK’s CDT International aims to elevate the semiconductor industry by enhancing manufacturing capabilities, training talent, and fostering research collaboration. The plans align with the objectives of the Saudi Semiconductors Program (SSP).

Semiconductors are a key component for clean energy sources: Semiconductor technology is used to maintain stable power delivery despite the intermittent nature of renewable energy sources like wind, solar, wave, and tidal power by controlling power generation and grid connection. They enable efficient energy conversion in renewable plants such as wind turbines and facilitate power transmission to the grid.

Saudi Arabia is looking to localize its renewables sector: PIF-owned sustainable-tech manufacturing company Alat and KACST announced last week a partnership to boost research, development, and innovation in the energy and and industry sectors in a bid to localize the semiconductor industry. Alat will provide industrial facilities and will collaborate with KACST on research and training.

Abu Dhabi-based AI outfit G42 has inked an MoU with Kenya’s EcoCloud to establish a 100 MW sustainable data center in Kenya, powered by geothermal energy, according to a statement released last week, which did not include an investment ticket or timeline for the project. The data center can later house up to 1 GW of capacity.

The details: The hub will be strategically located in Kenya’s geothermal-rich region, enabling it to be powered by geothermal energy, reducing reliance on fossil fuels and curbing carbon emissions. Aside from infrastructure investments, the partnership will also promote the development of cloud computing and AI services, in a bid to unlock growth and support the development of Kenya’s digital economy.

G42 is doubling down on data infrastructure investments in Africa: The company inked an agreement with Mauritania’s Digital Transformation, Innovation, and Modernization Ministry in mid-2023 to develop and improve the country’s national data center.

DEBT WATCH-

KSA’sAlkhorayef Water and Power Technologies (AWPT) has obtained a shariah-compliant facility worth SAR 536 mn from Al Rajhi Bank to finance its subsidiary Package 6 Co. for Environmental Services, it said in a disclosure to Tadawul last week. The funds will be directed to operation and maintenance contracts for sewage treatments plants in Riyadh.

STARTUP WATCH-

Zeroe gets seed funding boost from Voyagers: UAE-based climate tech company Zeroe has secured a seed funding boost from the Voyagers ClimateTech Fund taking its total raise to USD 2.3 mn, Wamda reports. The startup secured USD 2.2 mn in seed funding in November, in a round solely led by Indonesian investor Owen Rahadiyan. The funds will be used to support the company’s expansion plans in MENA and Southeast Asia.

About the startup: Established in 2022, Zeroe is a software platform designed to accelerate corporate decarbonization by automating the process of carbon accounting and facilitate easier access to capital for decarbonization efforts. We chatted with founder and CEO Farouk Jivani earlier this year.

Saudi food tech startup Barakah is eyeing a wider expansion to the GCC and in the region after landing fresh investment from European early-stage VC investor FoodLabs, co-founder and CEO prince Abdulaziz bin Al Saud told Asharq Business in an interview (watch, runtime: 2:38). “Our objective is to become the largest surplus marketplace in the Middle East and North Africa,” he said, without providing further details on the investment made by FoodLabs.

About Barakah: Launched in 2021, Barakah is an online marketplace that allows food and beverage retailers to sell their surplus products and meals through its platform in a bid to better manage food waste. It currently operates in six cities in Saudi, including Jeddah, Riyadh, Dammam, Khobar, Makkah and Madinah, according to its CEO.

Barakah has locked in agreements with over 800 retailers operating in the local market including Starbucks, Tim Hortons and Cinnabon, he said. It has managed to save over 350k meals in 15 months, he added.

GREEN FINANCE-

Morocco launches EUR 10 mn Just Transition project: Morocco has launched the EUR 10 mn Just Transition project to update its nationally determined contribution (NDC) and implement it in a socially responsible manner, MAP reported last week. The project will get funding from the German Federal Ministry for Economic Cooperation and Development and the European Union. The project also aims to help the private sector deal with the European Union's mechanism for adjusting carbon borders. The project was developed in cooperation with several international partners including the World Bank, the French Development Agency, and the EU.

OTHER STORIES WORTH KNOWING ABOUT THIS MORNING-

Jordanian + Palestinian companies sign renewables agreement: Palestinian company Jabreen Group and Jordan's Abu Al-Aynayn Company have signed an agreement to supply Palestinian companies with renewable energy. The agreement aims to provide energy solutions for Palestinian factories, reduce the cost of production and operation, and increase the competitiveness of Palestinian products in foreign markets. (Jordan News Agency)
Masdar + UAE Ministry of Defence cooperate on solar energy plants: UAE renewables firm Masdar has partnered with the UAE Ministry of Defence to develop solar power plants across Abu Dhabi. Emerge, a JV between Masdar and French utility company EDF Group, will provide a full turnkey solution for the projects for 25 years. (Statement)
Reaching net zero could add USD 1 tn to UAE’s GDP: The UAE's commitment to achieving net-zero emissions by 2050, supported by collaborative efforts between government entities and the private sector, could potentially boost its GDP by USD 1 tn, according to research by the Green Future Project. (Al Bayan)

UK to auction GBP 1 bn of renewable projects

UK to hold GBP 1 bn auction for renewable energy projects: The UK’s upcoming renewable power auction, the sixth of its kind, will have a budget exceeding GBP 1 bn, Reuters reported on Thursday, citing government budget documents it has seen. The increase aims to attract developers and spur renewable energy projects in order to meet the country's energy security and climate targets. GPB 800 mn of the total budget has been earmarked for offshore wind farms. The auction will be open to bidders on 27 March.

OTHER STORIES WORTH KNOWING ABOUT THIS MORNING-

Iberdrola bids USD 2.5 bn for remaining stake in US subsidiary: Spanish utility firm Iberdrola placed a USD 2.5 bn bid on Thursday to acquire the remaining 18.4% stake in its American sustainable energy subsidiary Avangrid for USD 2.49 bn. (Reuters)
BP’s emissions surge for first time in 5 years: British oil and gas giant BP saw its emissions rise for the first time since 2019 due to new oil and gas ventures. The company’s Scope 3 emissions jumped to 315 mn metric tons in 2023, up from 307 mn tons in 2022, while Scope 1 and 2 emissions climbed to 32.1 mn metric tons, a 0.6% y-o-y increase. (Reuters)

Omani innovator extracts biofuel from shimeji mushrooms

Omani researcher Zumrud Al Siyabiya has developed a method for extracting biofuel from shimeji mushrooms, Oman Daily reported last week. Shimeji mushrooms produce biofuel that matches international specifications with an extracted percentage rate of 25%, Siyabiya says. The researcher is currently working on using bacteria to increase this percentage and exploring the development of new fungal strains that increase the efficiency of biofuel production.

Why this matters: Researchers have found that mushroom waste can serve as an abundant and cost-effective feedstock for producing various biofuels including biogas, biohydrogen, bioethanol, bio-oil, and solid biofuels3. Mushroom cultivation also acts as an efficient biological pretreatment for biofuel production, enhancing biofuel yield.

Oman is making headway in biofuels: Omani-British green energy venture X2E revealed last month that it will pour USD 1.6 bn into the production of biodiesel, sustainable aviation fuel (SAF), and Camelina oil. Oman’s first biofuels producer Wakud also revealed in June last year its plans to establish a plant with a capacity of 250 tons per day. The Sultanate finalized a feasibility study with Be'ah in April 2023 for a new plant with a capacity of 4.5k tons of municipal waste which is set to slash the carbon footprint of landfills by 50 mn tons in 35 years.

Oman’s first fish waste recycling plant going online soon: Wakud is also setting up a fish-waste recycling facility and a vegetable and fruit waste-to-biogas plant, with work expected to begin by 2H 2024. The company operates WtE plants that use waste products, including recycled cooking oil, to produce biofuels for offtakers including Oman Aluminium Rolling Company.

There’s a wider biofuels push happening regionally: Saudi Arabia’s Biofuel Company inaugurated the first biofuel production plant in the country a year ago converting reclaimed cooking oil into carbon-neutral biodiesel. Over in the UAE, two international consortiums submitted proposals last May to the Emirates Water and Electricity Company and the Abu Dhabi Waste Management Company (Tadweer) for the development of a 900k ton capacity greenfield Waste-to-Energy (WtE) IPP facility in Abu Dhabi.

CALENDAR

MARCH 2024

19-29 March (Monday-Friday): International Seabed Authority Assembly and Council, Kingston, Jamaica.

APRIL 2024

16-18 April (Tuesday-Thursday): World Future Energy Summit, Abu Dhabi, UAE.

16-18 April (Tuesday-Thursday): Middle East Energy, Dubai, UAE.

22-24 April (Monday-Wednesday): Oman Petroleum and Energy Show, Mustac, Oman.

23-25 April (Tuesday-Thursday): Connecting Green Hydrogen MENA, Dubai, UAE.

24-26 April (Wednesday-Friday): Global Education & Training Exhibition (GETEX), Dubai, UAE.

28-29 April (Sunday-Monday) Global Cooperation, Growth and Energy for Development,Riyadh, Saudi Arabia.

28 April-2 May (Sunday-Thursday) Oman Sustainability Week, Oman International Exhibition Center, Muscat.

30 April-2 May (Tuesday-Thursday): Autonomous E-Mobility Forum, Doha, Qatar.

MAY 2024

7-9 May (Tuesday-Thursday): Global Waste Forum, Algiers, Algeria.

14-16 May (Tuesday-Thursday): Airport Show, Dubai, UAE.

18-25 May (Saturday-Saturday) The World Water Forum, Bali, Indonesia.

19-21 May (Sunday-Tuesday): Saudi Energy Convention, Riyadh, Saudi Arabia.

20-22 May (Monday-Wednesday): Electric Vehicle Innovation Summit, Abu Dhabi, UAE.

28-30 May (Tuesday-Thursday): Make it in the Emirates Forum, Abu Dhabi, UAE.

JUNE 2024

5 June (Wednesday): World Environment Day, Saudi Arabia.

OCTOBER 2024

15-17 October (Tuesday-Thursday): EV Auto Show, Riyadh, Saudi Arabia.

NOVEMBER 2024

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

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

DECEMBER 2024

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

EVENTS WITH NO SET DATE

2024

Early 2024: The 2023 US Algeria Energy Forum, Washington DC, USA.

12-14 February (Monday-Wednesday): Sustainable Aviation Futures MENA Congress, Dubai, UAE.

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.

2025

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

UAE to have over 1k EV charging stations installed.

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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