Egypt and UAE ink a raft of renewable investment agreements

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WHAT WE’RE TRACKING TODAY

TODAY: A big day for renewables in Egypt + Al Ajban solar farm breaks ground

Good morning, ladies and gents. As we await any action on the COP29 front, there’s a bucket of news to get through this morning starting with a fresh heap of renewables agreements in Egypt. But first…

THE BIG CLIMATE STORY OUTSIDE THE REGION- US prosecutors formally charged Adani — one of the richest people in the world — and seven others with being involved in a “massive” bribery and fraud scheme. The defendants allegedly planned to pay USD 265 mn in bribes to officials in the Indian government to facilitate being awarded solar energy supply contracts, including for India’s largest solar power plant. The contracts were forecasted to reel in USD 2 bn in net income over two decades.

The defendants are also being charged with raising capital “on the basis of false and misleading statements,” including USD 2 bn in syndicated loans “comprised of international financial institutions and US-based investors” and another USD 1 bn from bond offerings that were also “marketed and sold to investors in the US.”

The story grabbed headlines in the int’l press: Reuters | Financial Times | CNBC | Bloomberg

ALSO- Negotiations at COP29 have reached a critical stage, with the focus shifting to the contentious issue of financing climate action in developing countries. Azerbaijan’s chief negotiator Yalchin Rafiyev said the COP29 presidency would deliver a fresh draft text overnight, but as we head to dispatch there is no sign of updates. Negotiators are hammering away at what is said to be a lengthy draft text with multiple options, whittling it down to a two page document that can be revised and then adopted tomorrow. Countries had so far failed to agree on language that would make COP28’s landmark deal move forward.

The developing vs. developed debate: Differentiating between developed and developing nations in terms of financial contributions is also a key point of contention. Developed countries are emphasizing the need for private sector involvement and innovative finance structures to meet climate finance goals while developing countries are wary of lending-based financing given their debt burdens. They also worry that the final finance commitments may rely on vague sources, undermining the effectiveness of the pledged amounts.

The story grabbed ink in Reuters and Bloomberg.

WATCH THIS SPACE-

#1- Green Core + EERC to set up battery recycling in Egypt: Local e-waste recycling solutions providers Green Core and Egyptian Electronic Waste Recycling Company (EERC) are looking to build a EGP 400 mn battery recycling plant, Green Core CEO Hatem Youssef told Al Arabiya. The project is currently undergoing studies, expected to be completed in 1Q 2025.

KSA expansion ahead: The two companies are also looking to expand their regional footprint by stepping into the Saudi market and setting up an e-waste recycling facility there.

ALSO- Egypt and Japan Bank for International Cooperation (JBIC) talk hydrogen sector cooperation: JBIC is interested in investing in Egypt’s green hydrogen sector by financing interested Japanese companies and forging partnerships with regional investment funds, according to a statement from the General Authority for Investment and Free Zones. Possible cooperation with JBIC could double Japanese clean energy investments in Egypt, the statement added.

#2- Manara’s plans to snap up stakes in Zambian mines have fallen through: Japanese trading house Mitsui has outbid PIF-backed Manara Minerals for a minority stake in First Quantum Minerals’ Zambian copper mines, putting down USD 2 bn for 20% of First Quantum’s Sentinel and Kansanshi mines, Bloomberg reports, citing sources in the know.

BACKGROUND- Manara Minerals — a JV between the Public Investment Fund and mining giant Ma’aden — was reportedly in advanced talks for the acquisition in mid-October, with Ma’aden CEO and Manara Vice Chairman Robert Wilt later telling Reuters that he expected an agreement to wrap up before the year was out. Manara was widely viewed as the leading contender for the acquisition before being outbid by Mitsui, Bloomberg said.

IN OTHER SAUDI NEWS- SEC + Kaust explore carbon-freezing sequestration: The Saudi Electricity Company (SEC) and the King Abdullah University of Science and Technology (Kaust) have launched a research project — a first of its kind — that will test using freezing technology to sequester carbon and other pollutants at the Rabigh Power Plant, reported SPA. The carbon capture will be executed using a mobile platform that can sequester up to a quarter of a ton of carbon daily, SPA said.

COP WATCH-

#1- Twenty-five nations and EU pledge to end new coal power in climate plans: The EU and 25 countries — including Canada, UK, and Germany — have committed to include zero new coal power pledges in their next national climate plans (NDCs), Bloomberg reports. Key coal users like China, India, and the US were notably absent.

#2- Indonesia aims for accelerated net zero, phase-out of fossil plants by 2050: Indonesia plans to achieve net zero emissions before 2050, a decade earlier than previously targeted, Reuters reports, citing comments made by President Prabowo Subianto in G20. The country also intends to add 75 GW of renewable power and retire all coal and fossil-fuel power plants within the next 15 years, almost 16 years ahead of schedule of previous targets. Currently, over half of Indonesia’s 90 GW power capacity comes from coal, with renewables accounting for less than 15%.

THE SCORECARD-

MDBs are ramping up their climate financing: MDBs had a big year in 2023 after raising their climate lending to a record-high of USD 75 bn for low and middle-income countries and USD 50 bn for high-income countries, according to an EBRD press release on Tuesday. Estimates for future mobilized climate funding in 2030 also went up 60%, reaching USD 120 bn for low and middle-income countries.

Other notable efforts: The banks also expanded their efforts in mobilizing private finances, nearly doubling what they raised y-o-y in 2023 to USD 101 bn. The banks also jointly launched a “co-financing” portal that outlines over 125 projects worth over USD 95 bn that have promising collaborative investment prospects.

But there’s still a long way to go: A G20 Roadmap (pdf) warns that only 17% of SDG targets are on track and that progress is waning. Greenhouse gas emissions are also on the rise, and climate finance is falling short with the gap expanding. A USD 4 tn per year is needed for clean energy funding by 2030 to meet the 2050 net-zero goal, and USD 5.8-5.9 tn is needed to meet the goals of the Paris Agreement.

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CIRCLE YOUR CALENDAR-

Qatar will host the World Energy Storage Conference from Tuesday, 3 December to Thursday, 5 December in Doha. The event will gather scientists, researchers, engineers, policymakers, and industry experts to discuss advancements and challenges in energy storage technology. The detailed agenda is yet to be announced.

Saudi Arabia will host the Conference of the Parties (COP16) to the United NationsConvention to Combat Desertification from Monday, 2 December to Friday, 13 December in Riyadh. The summit will convene leaders and officials from 196 member-states and territories to advance actions and hold ministerial dialogues on resilience and finance, focusing on policies, tech and innovative funding mechanisms.

The UAE will host the World Energy Summit from Tuesday, 14 January to Thursday, 16 January in Abu Dhabi. The summit will host over 350 speakers including energy industry leaders and policymakers with discussions ranging from eco-waste to sustainable cities. An exhibition will also be held for showcasing green products.

Saudi Arabia will host the Future Minerals Forum from Tuesday, 14 January to Thursday, 16 January in Riyadh. The forum will gather stakeholders from over 170 countries to discuss mineral technology and exploration. Speakers will include senior government officials and CEOs from renowned mining companies Vale, Rio Tinto, and Manara.

Bahrain will host the Sustainability Forum Middle East from Tuesday, 28 January to Wednesday, 29 January in Manama. Climate experts and decision-makers will convene to discuss a number of issues ranging from decarbonization to supporting SMEs on their path to net zero. Speakers will include GCC government officials and industry leaders from the banking and industrial sectors.

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

Egypt and UAE ink a raft of renewable investment agreements

It was a big day for UAE-Egypt renewables investments as players from the two countries inked numerous investments for projects across the country.

(** Tap or click the headline above to read this story with all of the links to our background and outside sources.)

#1- Masdar inked two MoUs for solar plants:

A floating solar plant on Lake Nasser could be built under an MoU with state agency Future of Egypt agricultural expansion project. It’s unclear how big the project will be, with Emirati state news agency Wam putting the project’s capacity at 3 GW and the cabinet statement putting the capacity at 5 GW, split between a 2 GW first stage and 3 GW second stage.
The two sides could also establish a solar power plant in Nag Hammadi. Wam pegs capacity at 2 GW, while cabinet pegs it at 2.8 GW.

#2- A renewables-focused industrial zone in East Port Said may also be in the works, courtesy of AD Ports, who inked an MoU for the project with the SCZone, according to a separate statement. The Abu Dhabi sovereign wealth fund ADQ-owned company will develop, operate, and manage the 20 sq km zone in East Port Said. The possibility of linking the site with nearby docks and logistics areas is also under study.

What we know so far: The project will start with four factories, two of which will produce solar panels and other bits of solar tech, Egyptian Prime Minister Moustafa Madbouly said in his weekly presser. The project will also have facilities producing batteries to store solar power by next summer, he added. The factories will have a capacity of 4 GW of solar panels and 2 GW of battery storage.

This isn’t the first time we heard about the project: Recent meetings in August between government officials and Emirati government and business figures covered a proposal to set up an Emirati industrial zone in East Port Said, which the government said it was considering making a freezone or special economic zone exempt from customs duties.

#3- A USD 12 mn battery storage factory is also in the works, after an MoU was inked between the Industry Ministry, the UAE’s Global South Utilities, and China’s Weiheng, according to another statement. The facility will have a capacity of 1 GW.

#4- Global South Utilities also inked an MoU with JA Solar for two factories to produce solar cells and panels, according to a separate statement. One of the factories will manufacture solar cells with a production capacity of 2 GW at an investment cost of USD 138 mn, alongside another to produce solar panels with the same production capacity at a cost of USD 75 mn.

IN OTHER EGYPT RENEWABLES UPDATES-

Egypt greenlights two solar projects: The Egyptian Cabinet has approved two power purchase agreements (PPAs) signed between the Egyptian Electricity Transmission Company and a consortium made up of the UAE’s Masdar, Hassan Allam Utilities, and Infinity Power to develop two large-scale solar power plants in Egypt, according to a statement. The projects — located at the Benban and Al-Wahat sites — will have a combined capacity of 1.2 GW and include 720 MWh of battery storage. No financial details were included in the announcement.

About the projects: The Benban solar farm is set to generate 300 MW of solar power, with 60 MWh of energy storage, while the Al-Wahat project will generate 900 MW of solar power capacity with 660 MWh of battery energy storage. Both projects are expected to begin trial operations in 2025.

REMEMBER- A government source said in September that the consortium will build solar power plants in Upper Egypt with a combined capacity of 1 GW at a cost of USD 900 mn after the Egyptian government greenlit the move. The projects were previously reported to include a 240 MWh of battery storage capacity.

No stranger to the Egyptian market: The three companies are partners in building a USD 11 bn 10 GW wind farm in Sohag, which is set to be one of the largest wind farms globally and the largest in Africa. Masdar is also working with Infinity and the EETC to build a 200 MW wind farm in Ras Ghareb.

Masdar-Kowepo-EDF consortium break ground on Al Ajban solar farm

Masdar, Korea Western Power (Kowepo), and EDF have broken ground on the 1.5 GW AlAjban solar PV IPP plant in Abu Dhabi, Business Korea reports. The project is set to be operational in 3Q 2026.

(** Tap or click the headline above to read this story with all of the links to our background and outside sources.)

REMEMBER- The consortium inked a 30 year Power Purchase Agreement with the Emirates Water and Electricity Company (Ewec) in April to design, finance, build and operate the plant. EDF Renewables and Kowepo will hold a 20% stake each and Masdar will hold the remaining 60% stake, the statement notes. Ewec will offtake all the renewable energy generated.

The consortium reached a financial close for the project in September after securing funding from six major financial institutions, including BNP Paribas, Credit Agricole CIB, Standard Chartered Bank, HSBC Middle East, Sumitomo Mitsui Banking Corporation, and the Export-Import Bank of Korea (Korea Eximbank).

About the plant: The plant — the third utility–scale solar park in Abu Dhabi — is set to be home to three of the world’s largest solar sites when it becomes operational. The plant will deploy approximately 3 mn solar panels mounted on single-axis trackers and power nearly 160k homes across the UAE. The plant is expected to slash Abu Dhabi’s CO2 emissions by over 2.4 mn tons annually, the statement adds.

Not the consortium’s first regional project: EDF and Kowepco are also currently developing Oman’s 500 MW Manah solar project. The plant will deploy around 1 mn bifacial PV modules and provide clean energy for approximately 50k homes while offsetting 780k tons of CO2 annually.

SAIB + Emirates NBD issue sustainable sukuk and bonds

Fresh sustainable issuances have made a splash this week regionally, with new issuances from The Saudi Investment Bank (SAIB) and Emirates NBD. Here’s what we know:

(** Tap or click the headline above to read this story with all of the links to our background and outside sources.)

The USD-denominated additional tier 1 sukuk capital sustainable offering of SAIB is expected to wrap up today, according to a disclosure to Tadawul. Open to domestic and international eligible investors, the minimum subscription is USD 200k, with increments of USD 1k. The perpetual sukuk is callable after five years, allowing redemptions under specific conditions. Pricing, value, and returns will be determined based on market dynamics. The notes will be listed on the London Stock Exchange’s International Securities Market.

ADVISORS- Our friends at HSBC are acting as joint lead managers and bookrunners on the transaction, along with Alistithmar for Financial Securities and Brokerage, Citigroup Global Markets, J.P. Morgan Securities, Goldman Sachs, MUFG Securities EMEA plc, Arqaam Capital, and Standard Chartered.

EMIRATES NBD-

Emirates NBD issues USD 500 mn sustainability-linked bonds under EMTN program: Emirates NBD launched a USD 500 mn five-year sustainability-linked loan bond at initial price thoughts of 125 bps over US Treasuries, Zawya reports. The issuance, which falls under its USD 20 bn Euro Medium Term Note (EMTN) program, marks the bank’s first sustainability-linked issuance. The bonds will be issued on 26 November.

Details: Rated A2 by Moody’s and A+ by Fitch, the senior unsecured notes will be listed on Nasdaq Dubai and Euronext Dublin. Proceeds will be used to finance or refinance loans in its sustainability-linked portfolio.

ADVISORS- Emirates NBD Capital and HSBC Bank acted as joint sustainability structuring agents, with HSBC also serving as the billing and delivery bank. Emirates NBD Capital, FAB, HSBC, Industrial and Commercial Bank of China, and Société Generale are joint lead managers and bookrunners.

Critical Mineral Resources starts minerals trading in Morocco

CMR begins trading Moroccan metals: UK-based Critical Mineral Resources (CMR) has commenced its metals and industrial minerals trading in Morocco, according to a disclosure to the London Stock Exchange (LSE). This new venture — in partnership with an unnamed local partner — is expected to provide near-term cash flow, supporting CMR’s plans of acquiring and developing advanced mine development opportunities in the region.

(** Tap or click the headline above to read this story with all of the links to our background and outside sources.)

About the partnership: The joint venture — which includes a 70% bottomline share for CMR and 30% for its partner — is beginning its trading activities by focusing on short-term trading options with low risks. The unnamed local partner is responsible for sourcing products from smaller producers and upgrading lower-grade products in its concentrating facility. The JV trading arm is now operational, with several trades expected in the coming weeks.

A new mining development purchase may be in the works: The company said in the disclosure that it is closing in on a “high-quality” mining development, adding that it will issue a solid update on the investment opportunity in 1Q 2025. No further details were revealed in the disclosure.

The company has been very active in Morocco: CMR owns a majority stake of 80% in the leading Moroccan exploration and geological services company Atlantic Research Minerals (ARM) – which has recently said it would invest in the scoping and feasibility studies for the cobalt-rich site of Zagora in Morocco, as part of an earn-in agreement with the project owner SA Strategy. CMR also signed an option agreement to acquire 90% of the Igli copper and gold project in Morocco earlier in July. It also began initial minerals exploration work at its Igli silver copper deposit in the North African country’s Anti-Atlas region in August.

Electric soil could be a gamechanger for agriculture

As sustainable farming takes center stage in COP29, investing in new tech becomes a key tool in the quest for better mitigation and adaptation practice. Electrified soil is emerging as a new hydroponics farming technique with promising results for agriculture.

(** Tap or click the headline above to read this story with all of the links to our background and outside sources.)

Electricity can boost crop production? Researchers at Linköping University have developed a new method in hydroponic cultivation with the development of an electrically conductive soil called eSoil, according to a 2024 study (pdf) in the Proceedings of the National Academy of Sciences journal (PNAS). The method has been shown to enhance the growth of barley seedlings by up to 50% — as measured by weight — when their roots are electrically stimulated. The study highlights the potential of eSoil to revolutionize soilless cultivation, particularly in urban environments where traditional agriculture is not feasible.

In context: Hydroponics — a method of growing plants without soil — relies on water, nutrients, and a substrate for root attachment. This closed system allows for precise nutrient delivery and water recirculation, making it highly efficient. Hydroponics uses cultivation substrates like mineral wool, which are non-biodegradable and energy-intensive to produce.

How does eSoil factor in? The new eSoil is made mainly from biopolymer cellulose nanofibres and a conductive polymer called PEDOT and offers a sustainable alternative to traditional substrates like mineral wool. The researchers’ low-power approach to electrical stimulation sets their work apart from previous high-voltage methods, ensuring safety and energy efficiency.

The tech is good for adaptation: The study’s lead author emphasizes the importance of this development in addressing global food security challenges. The ability to grow crops in controlled urban settings could reduce the strain on arable land and adapt to harsh environmental conditions and areas with poor soil quality.

And mitigation as well: The researchers have observed improved nitrogen processing in electrically stimulated seedlings, which significantly reduces dependence on nitrogen fertilizers. This has a positive mitigation impact via cutting down emissions from the potent greenhouse gas nitrous oxide. It also reduces water waste significantly, the study found.

Looking ahead: The team at Linköping University hopes that their findings will pave the way for further research into hydroponic cultivation and bioelectronic interfaces for plants. Although hydroponics alone may not solve global food security issues, it offers a promising, supplementary method, especially in regions with limited agricultural resources.

Electricity is also utilized in other ways in agriculture: Researchers at the University of California have proposed a method called electro-agriculture that could revolutionize food production by replacing traditional photosynthesis with a solar-powered chemical reaction, according to a study (pdf) published this year in the sustainability academic journal Joule. The approach could reduce the land needed for agriculture by up to 88% and enable food production in controlled indoor environments.

How does it work? Photosynthesis is crucial for creating nutrients essential to plants’ biomass growth. This tech, however, replaces photosynthesis with a feeding element called acetate, a molecule that genetically engineered plants can eat. The tech uses solar panels to power a chemical reaction between CO₂ and water, producing acetate, which would then be used to feed plants grown hydroponically.

Progress is underway: The researchers have already managed to engineer plants that can use acetate in addition to photosynthesis and are working towards creating plants that can rely entirely on acetate for their energy needs. This method could also be applied to other food-producing organisms like mushrooms, yeast, and algae, which naturally use acetate.

The outlook: The team is focusing initial research on tomatoes, rice, peppers, and lettuce. They plan to expand to staple crops like grains, cassava and sweet potatoes. While the technology is still in the research phase for plants, it holds immediate potential for commercializing mushrooms and algae.

Mashreq + Landmark Retail ink sustainable loan agreement

DEBT WATCH-

EBRD extends a loan to RSWE: The European Bank for Reconstruction and Development (EBRD) will extend some USD 21.3 mn in financing to the Red Sea Wind Energy (RSWE) — a JV between Orascom Construction (OC), France’s Engie, and Japan’s Toyota Tsusho and Eurus Energy. The loan will fund the capacity expansion of RSWE’s wind farm in the Gulf of Suez to 650 MW from 500 MW, as part of the government’s Nexus for Food, Water, and Energy initiative (NWFE), according to a statement.

(** Tap or click the headline above to read this story with all of the links to our background and outside sources.)

Background: RSWE reached financial close for a 500 MW wind farm near Egypt’s Ras Ghareb in April 2023. RSWE built Egypt’s first renewable energy IPP project in Ras Ghareb with a capacity of 262.5 MW, completing it in 2019. Established in 2020, RSWE was created for the purpose of constructing multiple wind farms in the area. Its ownership breakdown sees Toyota and Eurus each owning 20%, Engie holding 35% and OC owning the remaining 25% stake.

GREEN FINANCE-

Mashreq + Landmark Retail partner on sustainability-linked loan: Mashreq signed sustainability-linked facilities (SLF) with Landmark Retail in Qatar, marking the country’s first bilateral SLF agreement in the private sector, according to a statement (pdf).

The details: The facilities link the financing to Landmark Retail’s performance across sustainability indicators, including renewable energy, energy efficiency, responsible sourcing, waste reduction, and recycling. Landmark Retail plans to ramp up responsible sourcing by increasing the use of sustainably sourced cotton in its products, the statement reads.

About Mashreq’s sustainability lending initiative: The SLF comes from Mashreq’s Climb2Change initiative, under which the bank offers sustainability-linked financing and works towards net-zero commitment. The bank wants to issue USD 30 bn of sustainable loans by 2030.

AVIATION-

UAE could be getting a new green aviation ecosystem: The China-UAE Industrial Capacity Cooperation Demonstration Zone (JOCIC Park) has inked an MoU with Hong Kong-based Volar Air Mobility to explore the development of a comprehensive green aviation ecosystem in the UAE, according to a press release. This follows an MoU inked between UAE’s General Civil Aviation Authority and Hong Kong-based Volar Air Mobility back in September to develop the UAE’s first green aviation tech hub, which will support R&D for sustainable aviation technologies.

The details: The partnership will focus on developing environmentally friendly next-generation aircraft and infrastructure. The collaboration will also focus on developing a comprehensive program to support green aviation startups and accelerate their development in cooperation with Abu Dhabi University as well as facilitating the establishment of the International Green Aviation Organization’s (IAGA) headquarters in Abu Dhabi.

OTHER STORIES WORTH KNOWING ABOUT THIS MORNING-

Ambipar sets up shop in the UAE: Brazil-based environmental services provider Ambipar launched its first MENA regional office, Ambipar Mena, in Abu Dhabi, with operations slated to kick off in January 2025, according to a press release.

CALENDAR

NOVEMBER 2024

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

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

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

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.

14-16 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, Manama, Bahrain.

FEBRUARY

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.

APRIL

7-9 April (Monday-Wednesday): Middle East Energy, Dubai, UAE.

14-15 April (Monday-Tuesday): Istanbul Carbon Summit, Istanbul, Turkey.

21-23 April (Monday-Wednesday): Electric Vehicle Innovation Summit (EVIS), Abu Dhabi, UAE.

MAY

7-9 May (Wednesday-Friday): International Renewable Energy Conference (IRENEC), Istanbul, Turkey.

JUNE

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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Egypt and UAE ink a raft of renewable investment agreements

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TODAY: A big day for renewables in Egypt + Al Ajban solar farm breaks ground

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Egypt and UAE ink a raft of renewable investment agreements

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Masdar-Kowepo-EDF consortium break ground on Al Ajban solar farm

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SAIB + Emirates NBD issue sustainable sukuk and bonds

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Critical Mineral Resources starts minerals trading in Morocco

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Electric soil could be a gamechanger for agriculture

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Mashreq + Landmark Retail ink sustainable loan agreement

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Egypt and UAE ink a raft of renewable investment agreements

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Masdar-Kowepo-EDF consortium break ground on Al Ajban solar farm

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SAIB + Emirates NBD issue sustainable sukuk and bonds

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Critical Mineral Resources starts minerals trading in Morocco

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Electric soil could be a gamechanger for agriculture

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Mashreq + Landmark Retail ink sustainable loan agreement

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