Egypt’s EPAP provides EUR 22 mn in financing to support industrial pollution control projects

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WHAT WE’RE TRACKING TODAY

TODAY: Egypt earmarks c. EUR 22 mn for three industrial pollution control projects in the SCZone

Good morning, friends. We have an issue heavy on climate finance updates from Egypt and beyond. Let’s jump in.

OUR TOP CLIMATE STORY- Egypt’s Environmental Affairs Agency inked three funding agreements worth c. EUR 22 mn to support industrial pollution control projects for three companies based in the Suez Canal Economic Zone. In other finance news, the French Development Agency approved a EUR 1.5 mn grant to Egypt’s Environment Ministry in a bid to develop the national banking sector’s climate finance strategy.

^^ We have the details on these stories and more in the news well, below.

THE BIG CLIMATE STORY OUTSIDE THE REGION- The World Bank’s executive board will interview US candidate next month: The World Bank Group’s executive board is reportedly planning to interview the US nominee for the development bank’s presidency, Ajay Banga in May, Reuters reports, citing unnamed sources. The bank’s current chief David Malpass informed the board his last day would be Thursday, 1 June. The same board interviewing former Mastercard CEO Banga next month said in March it would consider no other nominees for WB’s top post since Banga was the only candidate elected.

SPEAKING OF THE WORLD BANK- US Treasury Secretary Janet Yellen will hold a roundtable discussion today on the sidelines of the World Bank Spring Meetings where she is expected to call for the evolution of the World Bank and other development lenders beyond the World Bank’s recently proposed lending expansion target of EUR 5 bn per annum, Reuters reports, quoting an unnamed US Treasury official. Late last month, the World Bank announced it would increase its lending capacity for climate and other crises-focused projects by USD 50 bn over the next decade while maintaining its AAA credit rating.

As expected: In March, Yellen and Germany’s acting governor to the World Bank Svenja Schulze spoke about overhauling the World Bank’s financing structure ahead of COP28 to incorporate climate finance, pandemic control, and poverty reduction as top priorities. Yellen and German allies said they are keen to see a solid “schedule for reform” of the World Bank as early as April, as the lender faces pressure for failing to address climate change.

Climate-related discussions and workshops happening on day three of the meetings:

Investing for Impact: Mobilizing Private Capital in Challenging Times (8:30am EDT)
Climate Finance & Country Climate Partnerships (8:30am EDT)
Unlocking Financing Opportunities and Development Potential of Key Transport Corridors in Africa (9am EDT)
Enabling and Delivering Finance for Sustainable Infrastructure Development (11:30am EDT)
Financing for Water Action in a Changing Climate (11:30am EDT)
Coming Down to Earth: How to Tackle Soaring Public Debt (12pm EDT)
Enabling Private Investment through Carbon Markets (2:30pm EDT)
Tackling Global Risks — Building Capacity to Manage Public Debt (4pm EDT)

You can check out the full schedulefor the meetings here.

WATCH THIS SPACE #1- Egypt’s regulator prepares for carbon market launch: Egypt’s Financial Regulatory Authority (FRA) will form a committee to supervise and regulate the country’s soon-to-be launched voluntary carbon market, according to a statement. The new regulator's mandate will include 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. The committee will be headed by FRA chief Mohamed Farid and include representatives from the country’s Environment Ministry, the Egyptian Stock Exchange (EGX), and the FRA.

WATCH THIS SPACE #2- Oman’s Salalah Smart City is coming together: A consortium led by F&M Middle East will design the master plan for Oman’s Salalah Smart City project, Muscat Daily reports. The smart city’s design will minimize the use of cars, provide efficient public transportation, and facilitate walking and cycling. The port city of Salalah is a prime candidate for hosting green hydrogen and green ammonia production and storage facilities and will be connected to a planned hydrogen pipeline network. It will also serve as the location of Oman’s first e-waste recycling facility.

WATCH THIS SPACE #3- Export restrictions on rare earths critical for EV and renewable energy production increased five-fold between 2009-2020, according to a report (pdf) by the Organization for Economic Co-operation and Development. Nearly one-tenth of raw material sales over the last decade faced at least one form of restriction, the research found. Although the World Trade Organization prohibits export restrictions in the form of quantity caps, the world’s top export prohibitors — including Russia, China, Vietnam, and India — have instated export taxes to bypass WTO restrictions and curb critical mineral trade.

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COME TO OUR NEXT ENTERPRISE FORUM-

The Enterprise Exports & FDI Forum, our latest industry-specific conference, is taking place on Monday, 15 May at Four Seasons, Nile Plaza in Cairo. The Enterprise Exports & FDI Forum will give insiders and newcomers alike the chance to talk about how to develop an export-centered business and how their companies can help Egypt build an export-led economy that makes it a magnet for foreign direct investment (FDI).

What’s the Enterprise Exports & FDI Forum? In the wake of successive floats of EGP, exports and FDI have never been more important to Egypt’s economy — or its businesses. We’re gathering some of the CEOs, top execs from local companies and multinationals, investors, bankers, and finance folks to speak on how businesses can adapt their strategies to be export-oriented and what Egypt as a country can do to draw foreign investment and much-needed FX. Expect it to be heavy on lessons learned in Egypt and other global growth markets — and lots of success stories. You can learn more on our conference website here.

Some of the biggest names in business and finance are on board — are you? If you’re a C-suite exec, business owner, DFI staff, export executive, investor or banker, please fill out the form here to signal your interest, letting us know your name, title and where you work.

WANT TO BECOME A COMMERCIAL PARTNER? Ping a note to Moustafa, our head of commercial, here.

CIRCLE YOUR CALENDAR-

Japan will host The G7 Ministers’ Meeting on Climate, Energy, and Environment on Saturday, 15 April in Sapporo. The two-day event will see cabinet members from G7 member states discuss solutions for the global power crunch triggered by the Russia-Ukraine war, explore pathways to transition the global economy toward 100% clean energy, further negotiations on the UN’s plastic pollution treaty, as well as the Kunming-Montreal Global

Biodiversity Framework, and devise a roadmap for strengthening climate resilience for climate-vulnerable countries.

The UAE is hosting the International Conference on Green Energy and Environmental Technology (ICGEET) on 18 and 19 April in Dubai. The event will bring together stakeholders from academia, the healthcare industry, and the private sector to discuss energy conservation among other topics.

Germany will host the first COP27 transitional committee workshop from Saturday, 29 April to Sunday, 30 April in Bonn. The workshop will address climate-driven loss and damage impacts, will spotlight the findings of a report prepared by the UN on current funding arrangements for climate mitigation efforts, and bring together a host of international financial institutions to discuss pathways to upping funding capacity for climate-induced loss and damage.

Turkey is hosting the International 100% Renewable Energy Conference from 4-6 May in Istanbul. The event will bring together experts to discuss the integration of renewables, renewable energy technologies and applications, and the Roadmap to 2050.

The UAE is hosting the UAE Climate Tech forum on 10 and 11 May in Abu Dhabi. The event will gather over 1k policymakers, CEOs, experts, and investors to discuss collaboration on innovative technologies and economic opportunities in advancing decarbonization across all sectors.

The first MENA Solar Conference is accepting applications from published researchers specialized in PV technology until Sunday, 30 April. The Dubai Electricity and Water Authority will be hosting the conference from 15 to 18 November, in conjunction with the Water, Energy, Technology, and Environment Exhibition and the Dubai Solar Show 2023. Researchers can submit their papers here.

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

Egypt’s EPAP provides EUR 22 mn in financing to support industrial pollution control projects

Egypt’s EPAP funds industrial pollution control: The Egyptian Environmental Affairs Agency signed three funding agreements worth c. EUR 22 mn with El Nasr for Fertilizers and Chemical Industries (Semadco), packaging solutions provider Flex Films and food packaging player Huhtamaki Egypt to support industrial pollution control projects by the companies based in the Suez Canal Economic Zone, according to an Egyptian Environment Ministry statement. The agreements fall under the ministry’s Egyptian Pollution Abatement Programme (EPAP), which is now in its third phase since the program’s launch in 2015, the statement notes.

What is EPAP? The program is a wide-scale initiative launched in the early 1990s by the ministry to help industries reduce energy and resource consumption and comply with environmental regulations, according to its website. It provides a mix of loans and grants to industries, with financial backing from parties including the EU, the French Development Agency (AFD), The European Investment Bank (EIB), and German development bank KfW.

Where are the funds going? Some EUR 11.8 mn will finance Semadco’s EUR 13.56 mn industrial waste disposal station project in Suez. The project aims to reuse industrial wastewater and improve the quality of the wastewater deposited directly into the Red Sea by lowering ammonia, nitrate and dissolved salts levels. The station is set to begin operations in 4Q 2023, the statement notes.

And a bit more for recycling: Felix Films will get EUR 7 mn from EPAP to help fund its EUR 16.05 mn Polyethylene terephthalate (PET) project, according to the statement. The project aims to recycle plastic packaging waste and slash indirect GHG emissions, reducing the company’s carbon footprint. Operations will commence during 3Q 2023. Some EUR 2.84 mn will be provided to Huhtamaki Egypt’s EUR 3.6 mn ethyl acetate project which aims to recycle the solvent used in the industrial process by 95%. The project’s trial operations are currently underway, according to the statement.

Why does this matter? Environmental degradation is costing Egypt some EUR 2.2 bn a year, according to AFD data. EPAP aims to bridge a financing gap for pollution abatement investments estimated at EUR 280 mn, the agency adds.

AFD upscales Egypt’s climate finance strategy with EUR 1.5 mn grant

Egypt receives AFD grant to develop climate finance strategy: The French Development Agency (AFD) will provide a EUR 1.5 mn grant to Egypt’s Environment Ministry in a bid to develop the national banking sector’s climate finance strategy, according to a ministry statement.

Not the first time: AFD provided the National Bank of Egypt with a EUR 101.5 mn financing package in 2022 to help it channel funds into renewable and clean energy projects under its Transforming Financial Systems for Climate (TFSC) program. AFD is providing up to EUR 430 mn to finance renewable projects under TFSC, with the UN’s Green Climate Fund co-financing with funds totaling EUR 213 mn.

And there’s a climate financing project in the works: Egypt’s Environment Ministry, Foreign Ministry, and the United Nations Development Program established the “Transforming Financial Systems for Climate in Egypt” (TFSC Egypt), according to the statement. TFSC Egypt will help national banks adopt and implement financing frameworks for renewable energy projects and help banks integrate climate and identify climate risks when financing projects.

Ryse Energy secures USD 15 mn in growth funding for international expansion

Ryse Energy secures funds for untapped markets: UAE-based renewable firm Ryse Energy has raised USD 15 mn in a growth funding round led by RWE Energy Transition Investments, according to a statement. RWE Energy Transition Investments is the investment arm of RWE Supply & Trading which manages a portfolio of investments in companies and assets that support the energy transition, the statement notes.

What does Ryse Energy do? The Abu-Dhabi based company is a leading manufacturer of high-performance small wind turbine technologies globally. It offers several renewable energy systems — including solar and energy storage — which can be used as standalone technologies, grid-connected, off-grid with energy storage or hybridized technologies. It operates in various sectors, including decarbonizing infrastructure in telecoms and oil and gas networks, marine agriculture applications and providing renewable energy access for rural communities.

Worldwide service including our region: The company operates manufacturing facilities in the UK and Spain, with a number of sales offices globally including the US, Europe, the UAE and India. Ryse Energy said it has either sold or installed over 4k units for clients worldwide.

Where’s the money going? The funding will pave the way for Ryse Energy to expand into untapped markets in North America and Africa where replacing diesel is a key strategic focus for decarbonization, according to the statement. The company is also exploring the possibility of expanding its manufacturing locations in the USA, the UAE and India.

Coffee With: Sherine Shohdy, Head of BII Egypt and North Africa coverage director

Coffee With: Sherine Shohdy (LinkedIn), Head of British International Investment’s (BII) Egypt Office and Coverage Director North Africa: Shohdy has served as BII’s Egypt Office and North Africa Coverage Director since July 2020, joining with a wealth of experience in Egypt and across the Middle East and North Africa working in development finance and the private sector. Prior to joining BII, she served as a senior consultant to the International Finance Corporation (IFC) for over a decade working on infrastructure and natural resource projects in Egypt, Jordan, Iraq and Pakistan.

BII launched the Africa Water Infrastructure Development (AWID) — an investment platform targeting water infrastructure and provision in Africa — with the UAE’s water and wastewater treatment company Metito in March. The JV will target sustainable water projects at scale to address funding gaps in water security and has been seeded with a desalination project in Egypt’s Sharm El Sheikh and a water treatment facility in Kigali, Rwanda.

We sat down with Shohdy to discuss climate finance in MENA and Africa, green hydrogen and agritech investment prospects, and GCC’s foreign direct investment drive towards Africa. Edited excerpts from our conversation:

Enterprise: You’ve previously said that BII has a 30% climate finance target over the next five years. Which sectors or regions are you focused on in Africa?

Sherine Shohdy: Climate finance touches all sectors and it mandates innovation in terms of how we fund and how we tailor offerings to specific markets. So it comes down to what kind of risks we’re willing to take and how to identify these risks in order to structure products accordingly. We want to take unbankable projects and turn them into bankable projects to mobilize funding from BII, private sector investors or other DFIs. The quantum of financing needed to address this challenge is significant and is growing by the day, and the more innovation we can bring to our markets, the more impactful and effective we can be.

Our climate finance target is based on our five year business plan and strategy which runs between 2023-2027. 30% of new commitments that we make will be climate finance in all the countries that we operate in across Africa and South Asia. We try to tailor our climate finance approach in individual countries to meet the unique requirements, specifications, opportunities and dynamics of each country.

E: What are the risks associated with climate finance, especially in Africa?

SS: There is the market-specific risk and there’s also embedded, sector-specific risks. Because climate solutions are innovative and do not always have proven concepts, the novelty of climate tech makes it more risky compared to other investments. So there’s the question of how to capture that risk and take it into consideration and what sort of returns to expect and when.

There is a lot of appetite for innovation and climate finance, but it comes with its challenges. It’s not one-size-fits-all — opportunities have to be tailored to markets based on their needs and requirements.

E: Which cleantech and climate tech sub-sectors are seeing the most investment in Africa?

SS: There are a lot of opportunities in renewable energy and green hydrogen, Morocco and Egypt have potential to become hubs in the region. BII is currently looking at innovative financing structures for green hydrogen. Because it is new, we have to be innovative in how something like green hydrogen should be priced and how to take the risk on board so that it doesn't distort the market. This process is key because you want to make it so that similar projects become eligible for normal financing in the future so they don’t always rely on subsidized funding or concessional financing.

E: You’ve previously invested with VCs in Egypt, particularly in climate and clean tech. Are you looking at other VCs in North Africa?

SS: We think very highly of the VC space because it is able to address and capture a lot of innovation and, even though the amounts deployed are small, it is very impactful. We’ve been watching North African VCs closely over the past couple of years, and we’re trying to support as many as we can. In Egypt, we’ve closed on three VC fund investments with Sawari Ventures, Endure Capital and Algebra Ventures. We also have our own VC scale-up program, which allows us to invest in VC funds as well as to invest directly into the asset alongside them, and our investment in MoneyFellows is one example of that. Right now, we want to help Egypt-based VCs expand their footprint to North Africa and vice versa.

E: Do you expect to see more DFIs partnering with GCC-based funds and companies to invest in Africa’s energy transition in the short- to medium-term?

These collaborations are a way to explore how to bring more funding together, as opposed to each player working independently. Every single player in the market has a role to play. Over the past ten years, GCC FDI interest in Africa has mainly been concentrated in Egypt, which has attracted USD 70 bn, followed by Morocco, which has attracted USD 4.6-5 bn, according to data from White & Case. In totality, the GCC has made around 64 investments in Africa's clean and climate tech sectors over the past ten years. Agribusiness is dominating that funding as climate change and supply chain disruptions drive the GCC to diversify food imports and trade links. Given that Africa has 60% of the world’s arable land and could add around 20% of the world’s cereals and grains output, there is huge potential.

E: There’s some anxiety around rising emissions in Africa as it ramps up development efforts. Do you expect that we’ll see more deregulation and decentralization to accelerate access in Africa?

SS: I think the progress of each country is different but the direction of travel is the same. So far, the pace of change is slower than the rise in climate change challenges. Investments in climate tech will help African communities because they have a multiplier effect and can help position Africa as a key player in the global energy transition. Some of the most important points to address are the regulatory and legal regimes, including helping companies set up and scale faster and establishing kickstarter investments. There’s also the question of how do we encourage more investments from Europe and the rest of the world, because making it easier for external investors can open doors for more innovation.

E: Can you tell us more about BII’s Climate Adaptation and Renewable Energy (CARE) blueprint?

SS: With CARE, we are trying to approach water more efficiently and exploring ways to mobilize climate financing for it. It’s a partnership that we will approach the Egyptian government with in order to develop a sustainable blueprint for powering energy-intensive water infrastructure and support investors to integrate climate risks and accelerate planning and capital inflows. We are looking at ways of producing and desalinating more sustainably in order to make water qualify for climate financing, as well as to capture and mobilize private sector capital. Our first roll-out is a case study for Egypt, but CARE is a blueprint that we will tailor and implement across Africa.

China wants more energy cooperation with Egypt

More Egypt-China energy cooperation? The Chinese Three Gorges International Corporation (CTGI) is exploring avenues for cooperation with Egypt on renewable energy projects including green hydrogen and seawater desalination, according to a statement released this week. Electricity and Renewable Energy Minister Mohamed Shaker met with CTGI’s CEO to discuss support and increased cooperation between Chinese companies and Egyptian electricity and renewable energy projects via production stations, transmission, and distribution networks.

UAE’s Tadweer and Austria’s OMV join forces on biofuel production

UAE’s Tadweer is exploring biofuel production: The Abu Dhabi Waste Management Company (Tadweer) has signed an agreement with Austria-based integrated oil and gas company OMV to explore areas for development in the production of biofuels and chemicals from biowaste, Wam reports.

OMV wants to up its clean fuel production quota: OMV is also exploring — alongside Abu Dhabi’s Mubadala Energy and Pakistani-Arab Refinery (Parco) — the production of sustainable aviation fuels.

OTHER STORIES WORTH KNOWING ABOUT THIS MORNING-

A research team from Egypt’s Helwan University has been granted EGP 2 mn in funding from the state-affiliated Science, Technology, and Innovation Funding Authority for their research project on green hydrogen production. (MENA)
Saudi Arabia’s Industry and Mineral Resources Ministry has released the shortlist of 13 local and international bidders who qualified for the second licensing stage for the mining exploration sites of Muhaddad and Ar Ridaniyah. (Tweet)

Romania’s Hidroelectrica will use upcoming IPO proceeds to boost investments in renewable projects

Romanian state-owned utility company Hidroelectrica is set to use proceeds from its upcoming IPO to expand partnerships with developers on new renewables projects, Bloomberg reports. The company intends to pull the trigger on its IPO on the Bucharest Stock Exchange by June, which is expected to raise as much as EUR 2.3 bn from the sale of a 20% stake. The company’s hydroelectric power capacity was pushed down by a prolonged drought last summer, which has shifted the company’s focus to investing in alternative energy sources including solar and wind, CEO Bogdan Badea said, according to Bloomberg.

Pushing forward with or without EU funding: Although a sizable portion of the EUR 80 bn Romania will receive in the next four years from the EU will be earmarked for renewables projects, Hidroelectrica will maintain a bullish approach and not be “bogged down in the red tape that can accompany energy projects,” Badea told Bloomberg. The company will rely on its own purse and potentially raise debt as it pushes to increase production capacity and divest away from hydro power, he added.

REMEMBER- Hidroelectrica has caught some regional interest lately: The company signed a cooperation agreement with the UAE’s Masdar last month to develop offshore wind and floating solar energy projects in Romania that will generate some 2 GW of clean power.

British oil giants partner on carbon capture: British oil companies Harbour Energy and BP have entered into an agreement to develop the Viking CCS carbon capture and storage plant in the UK’s Humber region, Reuters reports. Under the agreement, Harbour would maintain its 60% share of the plant and BP would acquire a 40% stake in the facility, which is expected to have a carbon storage capacity of 10 mn tons per year by 2030. The agreement follows the UK government’s announcement on funding two carbon capture clusters in the country that are capable of collectively sequestering some 10 mn tons of CO2 annually by the end of the decade.

OTHER STORIES WORTH KNOWING ABOUT THIS MORNING-

The OPEC Fund for International Development has approved a loan of USD 100 mn to finance climate adaptation infrastructure in Paraguay. The country was hit with a severe drought from 2019 to 2021, which experts say was exacerbated by climate change and deforestation. (Wam)
India’s central bank is preparing a framework for accepting green deposits to facilitate investment in renewables. The framework — which is expected to come into effect on 1 June — is part of the government’s efforts to boost green finance and mitigate climate-related financial risks. (Reuters)

CALENDAR

APRIL 2023

15-16 April (Saturday-Sunday): G7 Ministers’ Meeting on Climate, Energy, and Environment, Sapporo, Japan.

18-19 April (Tuesday-Wednesday): International Conference on Green Energy and Environmental Technology (ICGEET), Dubai, UAE.

29-30 April (Saturday-Sunday): First COP27 transitional committee workshop, Bonn, Germany.

MAY 2023

1-4 May (Monday-Thursday): Arabian Travel Market, Dubai, UAE.

2-7 May (Tuesday-Sunday): Salon International de l’Agriculture au Maroc (SIAM), Meknes, Morocco.

4-6 May (Thursday-Saturday): International 100% Renewable Energy Conference, Istanbul, Turkey.

8-10 May (Monday-Wednesday): Global Green Future Fuel, Dubai, UAE.

8-10 May (Monday-Wednesday): Annual Investment Meeting, Abu Dhabi, UAE.

9 May (Tuesday): World Hydrogen 2023 Summit & Exhibition, Rotterdam, Netherlands.

9-10 May (Tuesday-Wednesday): The Solar Show MENA, Cairo, Egypt.

10-11 May (Wednesday-Thursday): UAE Climate Tech, Abu Dhabi, UAE.

16-18 May (Tuesday-Thursday): Seatrade Maritime Logistics Middle East, Dubai, UAE.

19-21 May (Friday-Sunday): G7 Hiroshima Summit, Hiroshima, Japan.

24-27 May (Wednesday-Saturday): Second meeting of the COP27 Transitional Committee, TBD.

29-31 May (Monday-Wednesday): Electric Vehicle Innovation Summit, Abu Dhabi, UAE.

29-31 May (Monday-Wednesday): CCUS Forum, Doha, Qatar.

30 May-1 June (Tuesday-Thursday): Global Sustainable Development Congress, King Abdullah University of Science and Technology (KAUST), KSA.

JUNE 2023

1 June (Thursday): Invest in African Energy Forum, Paris, France.

1-3 June (Thursday-Saturday): Envirotec and Energie Expo, Tunis, Tunisia.

12-15 June (Monday-Thursday): Saudi Plastics & Petrochem, Riyadh, KSA.

13-14 June (Tuesday- Wednesday) The Arab Green Summit, Dubai, UAE.

13-14 June (Tuesday- Wednesday) Bloomberg New Economy Gateway Africa Conference, Marrakesh, Morocco.

13-14 June (Tuesday- Wednesday) Vision Golfe 2023, French Ministry of the Economy, Finance and Industrial and Digital Sovereignty, Paris, France.

JULY 2023

3-7 July (Monday-Friday): The 36th Conference of the International Association of Climatology, Bucharest, Romania.

22-23 July (Saturday-Sunday): Second COP27 transitional committee workshop, Bangkok, Thailand.

AUGUST 2023

20-24 August (Sunday-Wednesday): World Water Week 2023, Stockholm, Sweden.

29 August-1 September (Tuesday-Friday): Third meeting of the COP27 Transitional Committee, TBD.

SEPTEMBER 2023

9-20 September (Saturday-Wednesday): 2023 Sustainable Development Goals Summit, New York, USA.

11-13 September (Monday-Wednesday): Global Congress on Renewable and Non-Renewable Energy, Dubai, UAE.

12-15 September (Tuesday-Friday): WTO Public Forum, Geneva, Switzerland.

Chariot Limited and Total Eren’s feasibility study on a 10 GW green hydrogen plant in Mauritania to be completed.

OCTOBER 2023

2-4 October (Monday-Wednesday): WETEX and Dubai Solar Show, Dubai, UAE.

4 October (Wednesday): Arabia CSR Gala Awarding Ceremony, UAE.

16-18 October (Monday-Wednesday): Climate Week, Rome, Italy.

17-20 October (Tuesday-Friday): Fourth meeting of the COP27 Transitional Committee, TBD.

29 October- 2 November (Sunday-Thursday): Cairo Water Week, Cairo, Egypt

31 October – 2 November (Tuesday-Thursday): World Hydropower Conference, Bali, Indonesia.

NOVEMBER 2023

9-10 November (Thursday-Friday): International Renewable Energy Agency Investment Forum, Uruguay.

30 November - 12 December: Conference of the Parties (COP 28), Dubai, UAE.

FEBRUARY 2024

22-26 February (Thursday-Monday): Management and Sustainability of Water Resources, Dubai, UAE.

EVENTS WITH NO SET DATE

End-2022

KSA’s Neom wants to tender three concrete water reservoir projects to up its water storage capacity by 6 mn liters.

2023

Early 2023: Egypt’s KarmSolar to launch KarmCharge, the company’s EV charging venture.

1Q2023: Oman will award two blocks of land for green hydrogen projects in Duqm, Oman.

Mid-2023: Sale of Sembcorp Energy India Limited to consortium of Omani investors to close.

Phase C of the 900-MW of the Mohammed bin Rashid Al Maktoum Solar Park in Dubai to be completed.

Saudi Basic Industries Corporation (Sabic) steam cracker furnace powered by renewable energy to come online.

4Q2023: Oman to award four blocks of land for green hydrogen projects in Thumrait, Oman.

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.

First 1.5 GW phase of Morocco’s Xlinks solar and wind energy project to be operational.

2025

Second 1.5 GW phase of Morocco’s Xlinks solar and wind energy project to be operational.

UAE to have over 1k EV charging stations installed.

2026

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.

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’s EPAP provides EUR 22 mn in financing to support industrial pollution control projects

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TODAY: Egypt earmarks c. EUR 22 mn for three industrial pollution control projects in the SCZone

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Egypt’s EPAP provides EUR 22 mn in financing to support industrial pollution control projects

Related

AFD upscales Egypt’s climate finance strategy with EUR 1.5 mn grant

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Ryse Energy secures USD 15 mn in growth funding for international expansion

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Coffee With: Sherine Shohdy, Head of BII Egypt and North Africa coverage director

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China wants more energy cooperation with Egypt

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UAE’s Tadweer and Austria’s OMV join forces on biofuel production

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Romania’s Hidroelectrica will use upcoming IPO proceeds to boost investments in renewable projects

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