Good morning, nice people. The news cycle has picked up as we near the end of the week with more details trickling in on Egypt’s green ammonia projects and some big waste management news emerging from Saudi Arabia.

THE BIG CLIMATE STORY OUTSIDE THE REGION- There’s no single headline dominating the headlines, but climate activists are once again coming for carbon credits. Over 80 climate nonprofits — including ClientEarth, ShareAction, Oxfam, Amnesty International, and Greenpeace have come together to warn against the use of carbon credits as a tool to offset their emissions. The group claims that carbon offsets “slow down global emission reductions while failing to provide anything like the scale of funds needed in the Global South,” and hinder “pressure to develop large-scale mechanisms such as ‘polluter pays’ fees on emission-intensive sectors.” The story grabbed ink in Bloomberg and Wall Street Journal.

WATCH THIS SPACE-

#1- Morocco is set to quadruple its investments in renewable energy from USD 400 mn in 2024 to USD 1.5 bn by 2027, Energy and Sustainable Development Minister Leila Benali said during a parliamentary session (watchtime: 1:47). Morocco will also add around 7.5 GW of renewable energy by 2027, excluding green hydrogen and desalination projects. Morocco also aims to invest USD 3 bn by 2027 to boost its transmission grid.

Morocco is making strides in green energy: Morocco was included in the ten African countries that added the most hydropower in 2023, adding 1.77 GW. The Morocco-UK Xlinx interconnector project is also underway to transport 3.6 GW of renewable energy — nearly 8% of the UK’s current requirements — from a 10.5 GW solar and wind farm in Morocco’s Guelmim-Oued Noun region to Britain’s power grid in Devon.

#2- Dubai targets demand-side electricity consumption: Dubai’s ruler Sheikh Mohammed bin Rashid Al Maktoum issued an order to update Dubai’s Demand Side Management Strategy 2050, which aims to achieve energy efficiency by managing demand for electricity, according to a statement.

In numbers: The updated strategy aims to save at least 86.8 Terawatt Hours (TWh) of electricity, 383.2 bn imperial gallons of water, and around 1.8 bn liters of transport fuel by 2050. It also includes 12 programs that cover net zero buildings, consumer behavior, water recycling, mobility, fuel, cooling, and lighting efficiency, among others.

#3- Egypt’s Dabaa nuclear plant receives core catcher: The third unit of Egypt’s 4.8 GW Dabaa nuclear power plant has received its reactor core catcher, according to a statement. The equipment — which arrived in three components by ship — is expected to be installed in October. Core catchers are installed for safety under reactor vessels to catch melted core material and cool it.

REMEMBER- Egypt broke ground on the reactor at the start of the year: Egypt kicked off construction on the fourth and final reactor of the 4.8 GW Dabaa nuclear power plant in January. Construction is set to be completed by 2028.

#4- Renault wants to decrease EV battery costs: French automaker Renault — through its EV subsidiary Ampere — will reduce its battery costs by around 20% by integrating lithium iron phosphate (LFP) cells with its current nickel cobalt manganese batteries, Bloomberg reports. The cheaper batteries will supply their vehicles starting in 2026.

There’s more: Ampere is collaborating with South Korea’s LG Energy Solution to extend the driving range of their cars and Renault is working on establishing a European value chain that would see LFP cells from Hungary provided by China’s Contemporary Amperex Technology and cell-to-pack technology from Poland from LG Energy as other Ampere partners operate in France.

Why does this matter? The move to improve profit margins is important in a slowing industry struggling to compete with China’s cheaper product. Renault had to retract plans for an Ampere IPO last year as a result of dwindling investor demand, while other automakers — such as Mercedes, Stellantis, and TotalEnergies — also experienced struggles.

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CIRCLE YOUR CALENDAR-

Saudi Arabia will host the Global EV & Mobility Tech Forum from Wednesday, 10 July to Thursday, 11 July in Riyadh. The forum will bring together international policymakers, institutions, NGOs, corporations, and companies to explore the future of green urban mobility, market trends, and the regulatory issues faced by the sector.

Egypt will host the Egypt Mining Forum from Tuesday, 16 July to Wednesday, 17 July in Cairo. The event will convene decision-makers from government, industry experts, new exploration firms, financiers, and investors to explore the challenges and advantages to establish Egypt as a leading global mining hub by 2040.

The UAE will host the World ESG Summit from Tuesday, 20 August to Wednesday, 21 August in Dubai. The summit will gather experts and industry leaders to explore new ways to integrate Environmental, Social, and Governance (ESG) principles into business practices.

Turkey will host the International Conference on Clean and Green Energy Engineering from Saturday, 24 August to Monday, 26 August in Izmir. The event will gather researchers and professionals to share advances in clean energy. It will also offer a platform to discuss the latest research, practices, and applications in clean and green energy engineering.

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