Oman advances green hydrogen ambitions, ventures into wind turbine production

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THE WEEK IN REVIEW

TOP STORIES: UK offshore grid major acquired by Taqa + Oman’s on a roll

Good morning, friends. It is another packed issue, with regional and global updates from across the spectrum of the green industry. Oman is featured heavily in this week’s issue, with updates on a new wind turbine making venture and hydrogen infrastructure. We also have an update on Taqa Transmission’s latest M&A moves. But first, an update on the latest target of the US tariff policy…

THE BIG STORY ABROAD THIS WEEK- Trump probes tariffs on critical mineral imports: US President Donald Trump has ordered the Commerce Department to launch a national security probe into tariffs on critical minerals imports, the White House announced on Tuesday.

What’s next? The probe would conclude within 180 days after assessing whether critical minerals imports threaten to “impair national security.” The President would then decide whether to impose tariffs on the imports, which would replace the levies Trump announced earlier this month, according to a White House fact sheet.

The review will examine vulnerabilities in processing supply chains for all critical minerals — including cobalt, nickel, uranium, and the 17 rare earths — and investigate how foreign actors may be distorting markets. It will also identify potential policy tools to scale up domestic supply and recycling and calls for an assessment of US capabilities to produce semi-finished goods such as battery cathodes.

But the US is behind across the board: The US currently produces minimal lithium, has only one nickel mine and no smelter, and lacks any cobalt mining or refining infrastructure, according to Reuters. The country operates just two copper smelters and remains reliant on imports to process most of its copper output. The same applies on rare earths mine, with most processed supply coming from China.

AND- China has been tightening its control as leverage: China restricted exports of seven categories of medium and heavy rare earths last week as part of a set of countermeasures against renewed tariffs by Trump. You can find more below about the impact of China export controls.

The story made headlines in the international press: Reuters | The Financial Times | CNBC | Bloomberg | Wall Street Journal

HAPPENING NEXT WEEK-

#1- The IMF and World Bank’s spring meetup will kick off next Monday amid the global economy grappling with mounting trade tensions and tariff escalations. The six-day 2025 Spring Meetings of the IMF and World Bank Group will bring together policymakers, central bankers, economists, private sector leaders, and more to discuss what the year ahead holds.

The mood of the meetup is already starting to become clear, with World Bank President Ajay Banga telling reporters yesterday that “uncertainty and volatility are undoubtedly contributing to a more cautious economic and business environment,” according to AFP.

#2- The UAE will host the Electric Vehicle Innovation Summit conference from Monday, 21 April until Wednesday, 23 April in Abu Dhabi. The summit is the largest of its kind and brings together industry players to address and collaborate on sustainable transportation. Among the full list of attendees are representatives of notable players in the industry, such as like Tesla, Volvo, Chinese electric vehicle maker Xpeng, Abu Dhabi-based EV charging provider CATEC, and UAE’s Emirates Transport.

WHAT WE’RE TRACKING REGIONALLY-

#1– Qatar and Indonesia are planning to set up a USD 4 bn joint fund targeting investment in key Indonesian industries, including renewable energy, Reuters reported on Tuesday. Each nation will be represented by its sovereign wealth funds — the Qatar Investment Authority and Indonesia’s Danantara — and each will dedicate USD 2 bn to the joint investment venture, which would also look at other sectors, such as health and technology. Danantara — Indonesia’s second sovereign wealth fund — was launched just last month with an initial capital of USD 61 bn.

#2- The second phase of the Jordan-Iraq electricity interconnection project is expected to be completed by the end of August, according to a statement issued on Tuesday. When fully operational, it will transmit 150-200 MW of electricity from Jordan to Iraq’s Al-Qa’im region via a 400 kV transmission line. Jordan and Iraq inked the agreement to link their electricity grids last year.

Jordan 💚 its neighbours: The country’s grid is linked to Egypt through a 400 kV submarine cable with a 550 MVA capacity, and to Syria via an overhead line at the same voltage level. Jordan also supplies Palestine with some 80 MW through a 33 kV line. Jordan is also finalizing agreements with Saudi Arabia to start constructing the Jordan-Saudi interconnection project, the first phase of which will have a 500 MW capacity.

#3- PIF-backed EV maker Lucid Motors is on track to launch its new midsize electric SUV in 2026, company executives told Reuters on Tuesday. The EV maker said it has already begun preparing the assembly line and finalizing vendor contracts. The new unnamed model is expected to have a USD 50k price point, which is set to make it the most affordable Lucid model thus far.

On track despite the odds… so far: “There are a lot of crazy things going on in the world that can affect the timeline, but currently Lucid is on track,” Lucid’s VP Derek Jenkins told Reuters. The company is working to minimize the impact of potential Trump tariffs by localizing its supply chain, including inking agreements with battery cell and graphite suppliers in the US, Interim CEO Marc Winterhoff told Reuters. Lucid does not plan to raise prices at this stage, Winterhoff added.

In context: Lucid has been ramping up its SUV launches in a bid to pick up a larger from competitors, with its first SUV models — Gravity — scheduled for launch this year with a price tag ranging between USD 79k and USD 95k. The news about the new affordable option is set to help the luxury EV maker compete with other producers making affordable models, such as Tesla’s bestselling Model Y, Ford’s Mustang Mach-E, Hyundai’s Ioniq 5, and the upcoming Rivian R2, according to a press release issued on Tuesday.

#4- Saudi Arabia and the US are working on a nuclear cooperation agreement, with signing planned before the end of this year, US Energy Secretary Chris Wright told Al Arabiya on Sunday. If reached, the agreement — dubbed ”123 agreement” from Section 123 of the U.S. Atomic Energy Act of 1954 — would mark a pivotal moment for the Saudi commercial nuclear ambitions after the Kingdom lobbied the US to ease its restrictions on bilateral nuclear cooperation.

So, what stalled an agreement? Negotiations on a US-Saudi nuclear cooperation agreement have been slow as Riyadh reportedly held back from promising that it would not enrich uranium or reprocess spent fuel, two key steps for countries that wish to start building their own nuclear weapons, Reuters reported on Sunday. Saudi has long maintained that it would head down the nuclear pathway if Iran were to successfully develop nukes.

SOUND SMART- The agreement — dubbed as “123 Agreement” — takes its name from Section 123 of the US Atomic Energy Act of 1954 that regulates nuclear cooperation between the US and other countries. The act requires potential US partners to meet specific requirements, including maintaining IAEA safeguards and the physical security of nuclear material, before an agreement can be finalized.

#5- Dewa’s green HQ on the brink of completion: The Dubai Electricity and Water Authority’s (Dewa) new AED 1.5 bn (USD 408 mn) net-zero Al Shera’a headquarters is set to be completed in 4Q 2025, according to a statement issued on Sunday. The building will produce 7 GWh of energy annually using over 20 sq km of PV solar panels with 4 MWp capacity, which will exceed the energy consumed. Another 1k sqm of building-integrated PV panels to increase total capacity to 5 MWp.

#6- Tabreed is eyeing Asian expansion: Abu Dhabi’s National Central Cooling Company (Tabreed) plans to enter Indonesia, Thailand, and Vietnam as it builds on its India operations, CEO Khalid Al Marzooqi told Al Etihad last week. The district cooling giant also secured a USD 700 mn green sukuk to fund sustainable projects, and agreed on an AED 1.5 bn JV with Dubai Holding last month to build a cooling system for Palm Jebel Ali, which is set to be operational by 2027.

#7- Archer Aviation will bring its Midnight electric vertical take-off and landing (eVTOL) aircraft to high-traffic areas in Abu Dhabi, the National reported last week. The areas include the Corniche, Saadiyat Island, and parts of western Abu Dhabi like Al Bateen, Al Khalidiya, and Al Maqtaa. A detailed network plan for the eVTOLs will be announced in “the near future,” as the company continues to work with local authorities to make the city the first to offer Midnight eVTOLs to the public, Chief Commercial Officer Nikhil Goel told the news outlet.

A closer look: An initial fleet of less than five eVTOLs will gradually be expanded as demand and infrastructure develop. Rides within Abu Dhabi are estimated to cost between AED 300 and AED 350, while inter-emirate journeys will range between AED 800 and AED 1.5k. Prices will depend on market conditions and will be similar to the cost of taxi journeys, Goel said.

ICYMI- Archer Aviation teamed up with Abu Dhabi Aviation (ADA) last month to fund the deployment of the eVTOL aircraft in Abu Dhabi. Test flights are scheduled to begin this summer, with full commercial operations expected to launch this year. It is also developing a “vertiport” network in collaboration with Falcon Aviation.

WHAT WE’RE TRACKING GLOBALLY-

#1- NZBA ditches 1.5°C target: The Net-Zero Banking Alliance (NZBA) has voted to loosen its climate commitment rules, shifting its target from limiting global warming to 1.5°C to a broader “well below 2°C” threshold, NZBA chair Shargiil Bashir told Reuters on Tuesday. The revised mandate — no longer requiring banks to align all sectoral financing with the 1.5°C target — is meant to accommodate slower-than-expected progress in green tech and policy, especially in hard-to-abate sectors like housing and aviation, Bashir said.

ICYMI: The NZBA proposed this policy change last month after a string of exits over the last few months, including of four Canadian banks and major US lenders like Goldman Sachs, Wells Fargo, Morgan Stanley, and JPMorgan Chase. European banks have also reportedly been reconsidering their commitment to the group.

#2- TheUS is getting its first sustainability-focused stock exchange: The US Securities and Exchange Commission has approved the Green Impact Exchange (GIX) registering as a national securities exchange, according to a press release on Monday. The US’ first stock market dedicated solely to sustainability — expected to go live in early 2026 — will list and trade companies that focus on climate-driven value creation, giving investors a dedicated platform to navigate ESG-aligned investing and the energy transition.

What we know: GIX will be part of the National Market System, meaning its trades will be integrated with those of other US stock exchanges to ensure smooth execution for investors. The platform — to be run on technology provided by exchange operator MEMX — will offer non-tiered pricing along with competitive liquidity and quoting schemes for participants.

A rocky time for ESG investing: Last week alone, ESG-focused, exchange-traded funds (ETFs) saw nearly USD 5.7 bn in outflows, the largest in over a year, Bloomberg reported on Monday. Sustainable equity funds also shed USD 9 bn in March, with the selling “intensifying” since February, Bloomberg added, citing Barclays’ Analysts. The shrinking interest comes on the heels of an intensifying US-based backlash against ESG investing and businesses and banks’ climate coalitions.

#3- China puts chokehold on rare earths: Exports of seven rare earths on China’s export control list have ground to a halt, Reuters reported last week, citing three unnamed sources. Chinese exporters must now apply to the Commerce Ministry for licenses to ship materials, with approvals typically taking between six weeks and several months, the sources told Reuters. Exporters to the US are also set to face more difficulty securing licenses, given the ongoing trade war between the two countries.

The impact is already being felt: Several Chinese suppliers have declared force majeure on contracts with international buyers, Reuters added. Cargoes already at ports but not yet cleared by customs have been barred from leaving the country, and customers’ stockpiles could deplete if the suspension extends beyond two months, the sources added. The export controls may also accelerate efforts by overseas buyers to diversify their rare earths sourcing and reduce reliance on China in the longer term.

REMEMBER- China restricted exports of seven categories of medium and heavy rare earths last week as part of a set of countermeasures against renewed tariffs by Trump. The move encompasses exports to all nations and does not constitute a complete ban, though Beijing can still limit export licenses. Some of the export restrictions — like that on antimony — were introduced as early as last September.

#4- CATL’s Hong-Kong listing to raise north of USD 5 bn: The world’s largest EV battery maker Contemporary Amperex Technology (CATL) has received the go-ahead from the Hong Kong Stock Exchange to list upwards of USD 5 bn worth of shares by 2Q 2025, Reuters reported last week, citing unnamed sources. The listing’s exact date is undecided, as sweeping US tariffs have caused widespread market instability, one of the sources said. China’s Securities Regulatory Commission also approved the listing last month.

THE SCORECARD-

Global EV sales in 1Q 2025 reached 4.1 mn units globally, according to a statement issued on Tuesday by British consultancy firm Rho Motion. China led the charge with 2.4 mn EVs sold and 36% y-o-y growth, while Europe saw an increase of 22% and North America 16%.

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CIRCLE YOUR CALENDAR-

Egypt will host Solar & Storage Live Egypt from Tuesday, 29 April until Wednesday, 30 April in Cairo. The supplier-led exhibition will allow companies to showcase their solar and clean energy solutions. Over 7k attendees, 150 exhibitors, and 150 speakers are expected to attend.

Turkey will host the International Renewable Energy Conference from Wednesday, 7 May until Friday, 9 May in Istanbul. The conference facilitates a dialogue between industry professionals on renewables policy, hydrogen in the energy transition, renewable energy solutions, and others.

Oman will host the Oman Sustainability Week from Sunday, 11 May until Thursday, 15 May in Muscat. The exhibition, bringing together policymakers and stakeholders from the energy and sustainability sectors, will serve as a premier knowledge-sharing platform, where thought leaders will explore policies and strategies to advance Oman’s journey toward a net-zero future.

Saudi Arabia will host theInternational District Cooling Conference from Tuesday, 13 May until Wednesday, 14 May in Jeddah. The conference will spotlight district cooling solutions for the Kingdom, with a focus on policy, regulation, digital transformations, asset management, optimization, networking, and investment opportunities.

Saudi Arabia will host its first Green Energy Week from Wednesday, 14 May until Thursday, 15 May in Riyadh. Over 450 attendees, 50 speakers, and 15 exhibitors will come together to discuss solar PV, energy storage and green hydrogen.

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

Taqa Transmission acquires UK’s Transmission Investment

Taqa Transmission is expanding its global transmission portfolio with the full acquisition of UK-based Transmission Investment (TI), according to a joint statement (pdf). There’s no publicly available information about the size or structure of the transaction. The acquisition comes shortly after Taqa rebranded its transmission business and announced plans to scale internationally.

The pitch: The agreement gives Taqa immediate access to a GBP 3 bn portfolio spanning 11 operational OFTO projects, and positions the company to tap into the fast-growing interconnector sector and offshore wind power in the UK as the country attempts the ambitious feat of 30 GW of wind power by 2030. The transaction also gives Taqa a stake in the development of new interconnectors that link the UK with France and Northern Ireland.

No changes to management: TI’s founder and managing director, Chris Veal, will continue to lead TI, the statement reads.

Taqa has been making moves on major Europe-bound electricity transmission projects, signing an agreement in February with Italy’s Eni that made it — alongside Masdar — the preferred off-taker for a tripartite renewables’ subsea cable project connecting Italy, Albania, and the UAE. The company is also backing Xlink’s ambitious UK-Morocco interconnector project, which envisions a 3.8k km high-voltage direct current (HVDC) subsea cable transporting 3.6 GW of renewable energy — nearly 8% of the UK’s current requirements — from a 10.5 GW solar and wind farm planned in Morocco’s Guelmim-Oued Noun region.

REMEMBER- UK Prime Minister Keir Starmer has been working to improve ties with Gulf countries, including the UAE, visiting Abu Dhabi last December to discuss potential investments with officials from Mubadala as he looks to secure funding for a range of projects.

Oman advances green hydrogen ambitions with three agreements boosting infrastructure

Oman and the Netherlands inked three agreements to advance the Oman-Europe liquified hydrogen supply chain, Oman’s public news agency ONA reported on Tuesday. The agreements will see both nations collaborate on a “liquified hydrogen corridor” by exploring the development of hydrogen production, transport, and storage infrastructure, advancing Oman’s goal to become a global green hydrogen hub. No investment figure or timeline for the agreements has been disclosed.

#1- A corridor connecting ports: The pair signed a Joint Development Agreement (JDA) to establish a commercial corridor to transport liquified hydrogen, connecting Oman’s Port of Duqm in the Special Economic Zone Sezad to the Netherlands’ Port of Amsterdam and Germany’s Port of Duisburg. The JDA will rely on vessels equipped with technology from Dubai-based supply chain solutions provider Ecolog.

Who’s responsible for what? Oman’s Hydrom will be the national coordinator overseeing hydrogen production, while Omani oil company OQ will develop the liquified hydrogen terminal, associated facilities, and storage and export infrastructure. The European side will establish liquefied hydrogen regasification terminals at the Port of Amsterdam and Germany, which will then be supplied with hydrogen via gas pipelines, rail networks, and maritime routes.

#2- A partnership study agreement: The two parties inked an agreement to conduct feasibility studies on hydrogen and carbon dioxide pipeline infrastructure.

#3- A storage agreement between OQ + Royal Vopak: OQ inked an agreement with Dutch storage and handling services provider Royal Vopak to explore establishing storage terminals and hubs for crude oil, refined products, chemicals, liquefied petroleum gas, liquefied natural gas, hydrogen, ammonia, and carbon dioxide in Sezad, Wam reports. OQ will spearhead the development of Oman’s Duqm into a hub for hydrocarbons, chemicals, and low-carbon products, while Royal Vopak will use its expertise in developing and operating the infrastructure project.

Oman has high ambitions: Oman aims to produce an upwards of 1-1.25 mn tons of green hydrogen by 2030. So far, the country has awarded at least eight projects — five in Duqm and three in Salalah, with production expected to exceed the 2030 target if all eight projects advance on time, according to Dubai-based think tank Dii’s MENA energy outlook 2025 report (pdf). The country also has another five projects in the pipeline that could double the targeted capacity, but the projects are yet to secure an investor, according to the report.

IFC gives Oman’s sustainability a push

IFC signs three agreements to support sustainability in Oman: Oman and the International Finance Corporation (IFC) — an arm of the World Bank Group (WB) — signed three agreements to support the nation’s sustainable finances market, as well as other green sectors, according to a press release issued on Monday. The agreements were signed during the WB’s Joint Meeting with Oman’s Finance Ministry.

Financing sustainable sectors: The IFC agreed to provide USD 120 mn in financing to support Oman’s National Finance Company’s (NFC) sustainable finance offerings. NFC will use the money to finance low-carbon and green mobility, renewable energy, and energy efficiency projects. The financing will also help the country adopt international best practices sustainability financing reporting and transparency.

Supporting polysilicon production: IFC signed an agreement with Oman’s United Solar Polysilicon to support the construction of its USD 1.6 bn polysilicon plant in Sohar, according to a press release from Monday. The plant would have a 100k ton annual polysilicon — a key material in solar panel manufacturing — production capacity. No details were available on the nature of the support — whether financial or technical.

REMEMBER- Riyadh-based international investment platform Ewpartners had invested USD tens of mns in the plant whose construction began in March 2024. The Oman Investment Authority’s investment vehicle Future Fund Oman (FFO) also pitched in USD 156 mn for the project in October.

One last thing: IFC also signed an agreement with FFO to support the Fund’s investments in several sectors, including green industries and clean energy.

Masdar taps Shanghai Electric for its Al Sadawi solar project

Masdar taps Shanghai Electric for Al Sadawi solar plant: Abu Dhabi-based future energy company Masdar has awarded the EPC contract for its 2 GWac Al Sadawi Solar PV project in KSA to Shanghai Electric, Trade Arabia reported on Tuesday. The project — part of the fifth round of the Kingdom’s National Renewable Energy Program — is set to be Shanghai Electric’s largest EPC contract for a solar power project once completed. There is no readily available information on the value of the contract.

Background: The Masdar-led project is developed by a consortium, including Korea Electric Power Corp, and China’s GD Power Development. The trio have secured a power purchase agreement for the project late last year. The plant — with a reported unconfirmed investment ticked of USD 1.1 bn — is planned to reach full capacity by May 2026, with the official commercial operation Date set for August 2027.

ALSO- Masdar expands solar projects in Indonesia: UAE’s Masdar and Indonesian state-owned electricity company PT PLN have signed two agreements for floating solar power projects, according to a press release issued last week. The first was an MoU to develop a floating solar power plant at the Jatigede Dam reservoir in West Java, with construction beginning this year and completion slated for 2027. The second was a Principles of Agreement to explore the expansion of Masdar’s pre-existing 145 MWac Cirata Floating PV plant.

REMEMBER- The pair signed a joint development study agreement to look into tripling the plant’s capacity to 500 MW and to develop solar, wind, and green hydrogen products in Indonesia and abroad in May 2024. Masdar is planning to expand its global clean energy portfolio to 100 GW by 2030, funneling USD 30 bn towards the target.

SOLAR UPDATES FROM IRAQ-

#1- Iraq may soon get 750 MW panels plant: Iraq is in the process of reviewing a technical proposal by an unnamed Chinese firm to develop a new solar panel manufacturing facility with a production capacity of 750 MW in Al Zawraa state, the state-owned Al Zawraa General Company’s general manager told INA on Sunday. Iraq is pushing to localize the solar panel industry.

#2- Sixteen new companies have been qualified by the Central Bank of Iraq (CBI) to install residential solar power systems, according to an Electricity Ministry statement issued on Monday. The new approvals bring the total number of licensed companies to 24.

The context: The move aims to help Iraq increase solar residential installations as demand grows among households looking to cut reliance on the strained national grid. The country’s solar residential push is supported by the CBI’s soft loan program, which was amended last week to streamline disbursements and tighten reporting requirements. The CBI program has so far attracted interest from 150 companies.

Construction begins on Egypt’s USD 500 mn green chemicals plant

Egypt’s SCZone breaks ground on its first green chemical plant: Egypt’s first green chemicals plant is officially under construction, after China’s Binhua Group — or Befar — broke ground on their USD 500 mn chlor-alkali production facility in the China-Egypt TEDA trade zone, according to a statement issued on Tuesday. The new project — whose agreement was signed last September — is set to rely on a mix of solar power, wind energy, electricity, and natural gas for its energy needs

About the project: The facility — spanning 400k sqm — will manufacture chlor-alkali with a forecasted maximum production capacity of 100k tons, according to the statement. The first phase is earmarked to cost USD 300 mn and is scheduled for completion within 18 months, while the second phase has an investment ticket of USD 200 mn.

Bolstering Egypt’s localization and import-substitution efforts: The factory is good news for the country’s import bill and localization efforts, given all the things produced through the chlor-alkali process used in the factory, such as chlorine gas, hydrogen gas, and sodium hydroxide. These key chemicals are used in numerous industries and everyday items. For example, Chlorine is used to purify water and make plastics, sodium hydroxide can be used to make paper, soap, and textiles, while hydrogen is used in fertilizers, refining crude oil, and more. “From an economic standpoint, the project opens up wide prospects for downstream and complementary industries, while enhancing Egypt’s capacity to secure its needs for strategic products used across various vital sectors,” said SCZone head Walid Gamal El Din.

About Binhua (Befar) Group: The firm — established in 1968 — specializes in chemicals, petrochemicals, and new energy solutions. Befar dominates the Chinese markets for several products — including allyl chloride, granular caustic soda, and caustic soda flakes, exporting its products to over 100 countries.

Oman launches development of USD 200 mn wind turbines factory

Oman has launched the first phase’s development of a wind turbine manufacturing facility in Duqm with a 1 GW production capacity, according to a statement issued on Sunday. The facility — the first of its kind in Oman and possibly the whole region — has an initial investment ticket of OMR 70 mn (USD 200 mn) for the first phase, with commercial operations set to begin by the end of next year.

The players: The project is co-led by Oman’s Mawarid Turbine Company and OQ Group. CID Gulf will be responsible for finalizing detailed design for the plant, and Shanghai Electric Wind Power is supporting the project with technology licensing, a research centre, technical design, and the supply of turbines to pilot wind stations. The Labour and Public Services Ministry would be responsible for securing training for 350 professionals ahead of the project’s launch.

The rationale: The facility is set to support the country’s still nascent wind power, with localization removing the high logistical costs and hurdles of exporting and transporting turbines. Output will be used to supply the both local and international markets.

Oman’s yet to catch up on wind: Oman only has 50 MW of operational onshore wind, but will soon add about 920 MW of capacity that are now under development, according to the Dubai-based think tank Dii’s MENA energy outlook 2025 report (pdf). The country is aiming to achieve an 11% share of renewables this year, and 30% by 2030.

IN OTHER REGIONAL WIND NEWS-

About 500 MW of Egypt’s 650 MW Ras Ghareb wind farm is now online after the completion of its 194 MW second phase, according to a cabinet statement issued on Wednesday. The local-international consortium implementing the project — consisting of Orascom Construction, Engie, Toyota Tsusho, and Eurus Energy — will bring the remaining 150 MW online in June. The 500 MW milestone puts the project six months ahead of schedule, said Orascom Construction in a statement (pdf ).

MENA’s solar outlook strong despite US-China trade war

Regional solar growth unfazed by US tariffs: The MENA region’s solar PV sector is expected to maintain strong momentum despite pressures caused by US tariffs on Chinese solar imports, Zawya reported on Sunday, citing Wood Mackenzie analyst Sohan Gwalani. The firm expects 100 GW of direct current solar PV capacity in MENA by 2029, equating to roughly 77 GW of alternating current grid power.

A catalyst for shifting solar supply chains closer to home: Regional solar players are prioritizing strategic supply chain localization and long-term alliances over reacting to US policy, with many looking to leverage Chinese expertise through direct partnerships, particularly in North Africa, Gwalani added. With new capacity in the pipeline, MENA could move beyond energy independence to becoming a net solar panel exporter.

Gulf states lead: GCC countries are still making solar projects viable despite high upfront capital costs, with countries like the UAE, Saudi Arabia, and Qatar rolling out incentives for developers, including land at no charge, low interest rates, and long-term power purchase agreements. These incentives have sometimes led to feed-in solar tariffs as low as USD 13-15 per MWh, and in some cases undercutting the Levelized Cost of Energy. However, these feed-in tariffs are incrementally increased over time, reflecting long-term benefits for developers, Gwalani added.

Nevertheless, solar module prices are expected to rise from around USD 0.8/W to USD 0.11/W by the end of 2025, and potentially reach USD 0.13/W by 2027, Clean Energy Associates analyst Joseph Johnson told pv magazine last Thursday.

DATA POINT- Solar PV capacity in MENA is set to reach 115 GW by 2030 — but only if all national targets are met, according to Dii’s MENA Energy Outlook 2025(pdf). The current pipeline of announced, under-construction, and already operational projects totals around 75 GW — meaning an additional 40 GW still needs to be planned, financed, and executed within the next five years to stay on track.

We need to talk about decarbonization biases

Bias in the decarbonization discussion — how does it manifest? There is no question that the need to decarbonize economies and industries is at an all-time high. However, the conversation is plagued with a baked-in bias that raises questions of fairness — especially in terms of who bears the decarbonization burden and how to distribute this responsibility in a complex global economy.

One way this bias manifests is in how some sectors and countries are left out of the emissions conversation, while others are “being singled out,” Mashreq’s head of ESG and Corporate Strategy Faisal AlShimmari told EnterpriseAM. “This is particularly evident when it comes to non-civilian activities, such as space exploration, where emissions and environmental impacts are rarely addressed,” AlShimmari said.

Some civilian sectors are left out too: The fashion industry is another example of a major emitting sector that is usually missed from the conversation, AlShimmari told us. Some estimates put the fashion industry’s share of global emissions at a staggering 10% responsible, and the European Union has said the sector is responsible for about 20% of the world’s water pollution.

Why does this matter? This selective focus raises important questions about responsibility and accountability — at what point in a product’s lifecycle does the producer’s responsibility for emissions end. It also “impacts broader global goals such as poverty alleviation, safety, security, and overall prosperity,” AlShimmari told us.

One major fix is to apply the same standards across the board, AlShimmari told us. Otherwise, “it doesn’t work,” and “discrimination and double standards” become real issues that hinder meaningful progress. All forgotten sectors need to be brought into the conversation to “create a more comprehensive and fair approach to the global green transition,” AlShimmari added.

But what can be done until then? The media could play a critical role by “raising awareness, shifting societal priorities, and encouraging the adoption of responsible practices,” AlShimmari told us. “A well-executed campaign can have a profound impact by not only informing the public but also influencing policymakers, businesses, and individuals,” he added.

Banks could play a role too: Financial institutions have an opportunity to use their platforms to “educate clients and shareholders about the importance of considering all sectors in emissions discussions. This can help shift public perception and drive demand for more sustainable practices across various Industries,” AlShimmari said.

EV, green manufacturing, mining, and sustainability updates from UAE, Saudi Arabia, Algeria, and more

SUSTAINABILITY-

Bee’ah + Sharjah to boost sustainable residential practices: Waste management firm Bee’ah has partnered with Sharjah Sustainable City — which is being developed by Sharjah Investment and Development Authority and Diamond Developers — to improve waste management solutions in the city, according to a press release from Tuesday. Sharjah Sustainable City will launch a pilot platform for testing new Bee’ah-backed technologies, while Bee’ah will design educational and training programs on sustainable waste management. The pair will also collaborate on research, smart transition tech, biogas operations, and sustainability events.

REMEMBER- Bee’ah is building a new commercial and industrial recycling facility in Sharjah, which utilizes a robotics and AI system to automatically detect, identify and separate different kinds of waste. The facility can process 156k tons of mixed recyclables annually once it is fully operational.

RENEWABLES-

EU, Germany to back Algeria’s energy transition: Algeria has launched the EUR 28 mn TaqatHy+ initiative to scale up renewable energy deployment and kickstart a green hydrogen economy, according to a statement on Monday. The program — to be implemented by GIZ under the supervision of the Energy Ministry — is co-funded by the EU and Germany’s BMZ, with the latter contributing EUR 18 mn coming from the German side.The program is set to run through May 2029 and will focus on boosting renewables’ capacity and enabling favorable conditions for project implementation and green hydrogen economy development. The project will also support the development of tools to monitor and evaluate energy efficiency measures, APS reported on Monday.

GREEN MANUFACTURING-

Plastic manufacturer Emirates Biotech appointed Samsung E&A as the sole contractor for its upcoming polylactic acid (PLA) production plant, according to a press release issued on Monday. Samsung E&A will handle the facility’s engineering, procurement, and construction and will integrate proprietary equipment from technology provider Sulzer. The plant will be located in Abu Dhabi’s Kezad.

What we know: The USD 800 mn plant will be built in two phases, each with 80k ton annual capacity. The facility would replace the equivalent of 3.2 bn plastic bottles and reduce 300k tons of CO2 emissions annually. The plant will use technology from Swiss company Sulzer to produce, purify, and polymerize lactide. Production is slated to kick off in early 2028. The company plans to make PLA in the UAE and export the product to India, Turkey, and Europe.

SOUND SMART- PLA a biopolymer made from plants that absorbs CO2, making it a more sustainable material than other plastics, according to the company’s website. It can be used for appliances, electronics, packaging, food service ware, 3D printing, and textiles. It is recyclable and compostable, breaking down into natural elements without leaving microplastics behind.

MINING-

Amak forms consortium to bid for Nuqrah VMS Belt mining license: Saudi-based Almasane Alkobra Mining (Amak) signed an agreement with Asas Mining and Arab Mining – Fujairah to form a consortium to make a joint bid for KSA’s Nuqrah VMS Belt exploration license in Round 9 of mining bids, it said in a disclosure to Tadawul on Sunday. The license covers the study, development, and exploitation of copper, zinc, gold, silver, and lead across 355 sq km in the Madinah, Hail, and Qassim regions.

What’s next: The parties plan to establish a joint venture once the license and regulatory approval are secured, with Asas Mining holding 60% and Amak and Arab Mining Company Fujairah holding 20% each. The agreement remains in effect until the tender is awarded, and will terminate if the bid is unsuccessful or upon formation of the JV. No investment size or timeline was disclosed.

BACKGROUND- Amak snapped up multiple exploration licenses last year. They include a five-year chromium, copper, nickel, and manganese exploration license in Al Baha Province secured in December and a five-year quartz exploration license in Najran and Asir secured in August. The firm also landed two exploration licenses in June worth a total of SAR 92 mn, covering Jabal Qaran and Al Hijra, which hold reserves of gold, copper, lead, and zinc.

EVs-

#1- Lucid bags some assets from bankrupt Nikola: PIF-backed luxury EV maker Lucid is acquiring key facilities and assets from Nikola Corp in Arizona, following the hydrogen truckmaker’s Chapter 11 bankruptcy auction, according to a press release issued last week. The agreement does not include any of Nikola’s core business components — no customer lists, intellectual property, or hydrogen fuel cell tech. No investment ticket has been disclosed for the acquisition.

What’s in the bag? The company acquired the 400k+ sq ft Coolidge manufacturing plant and the Phoenix site that previously served as Nikola’s HQ and R&D center. Together, the facilities will add more than 884K sq ft to Lucid’s existing operations in Arizona. Also included in the acquisition is a broad suite of equipment — battery and environmental testing chambers, machining tools, and a full-size chassis dynamometer.

Lucid looks comfortable in Arizona: Back in 2019, the company broke ground on its Advanced Manufacturing Plant – 1 in Casa Grande, Arizona — the first ground-up EV plant in North America. In early 2024, Lucid expanded its Arizona plant to support the launch of its Gravity SUV and future models. Lucid has said it was planning to invest more than USD 700 mn in the plant to reach a 400k-vehicle production capacity annually by 2028.

REMEMBER: Green trucking has suffered a streak of failures: Four hydrogen trucking startups, including Nikola, have gone bust in the past six months, as tepid demand, high hydrogen prices, and lackluster infrastructure continue to weigh down the industry

#2- KSA-based Green Watt to receive 1.6k EUVs from Tempo e-LV: The Netherlands-based, VivoPower subsidiary Tembo e-LV will supply 1.6k electric utility vehicles (EUVs) to Saudi energy and environmental solutions provider Green Watt under a USD 85 mn agreement, according to a press release issued last week. Green Watt will be responsible for distributing the vehicles across Saudi Arabia over the next five years.

SOUND SMART- An EUV is an electric vehicle used by different industries to transport goods or personnel over short to medium distances. It offers an eco-friendly alternative to traditional vehicles, as its design suits rugged terrains.

OTHER STORIES WORTH KNOWING ABOUT THIS MORNING-

Tadweer + SFECO explore green building materials production: Abu Dhabi Waste Management (Tadweer Group) signed an agreement with China’s SFECO Group to explore developing a facility to convert industrial solid waste into sustainable building materials in Abu Dhabi. The pair will form a joint working committee to determine the project’s feasibility and set a framework for each’s possible involvement. (Wam)

Qatar Airways goes in on SAF in Australia: Qatar Airways has partnered with Virgin Australia and Renewable Development Australia to develop a Sustainable Aviation Fuel production facility in North Queensland with a 96-mn-liter annual capacity. The plant will convert bioethanol from sugarcane into 100% SAF using technology from Australian EPC company KBR to supply nearby airports. (Press release)
Morocco opens green energy access to medium-voltage clients: Morocco’s Electricity and Drinking Water National Office has begun supplying renewable electricity to medium-voltage clients for the first time. Around 60 GWh of green electricity has already been marketed by private producers connected to the national grid to MV clients, including Tanger Med Utilitie in the Tangier-Tetouan-Al Hoceima region, Saint Gobain in the Kenitra freezone, and Managem at two Ouarzazate sites. (Statement)
EVIQ + Zeekr partner on EV charging: Saudi Arabia’s EVIQ has partnered with EV maker Zeekr through its KSA representative Walan Trading to expand charging stations in collaboration with local partners and explore customized charging solutions for Zeekr customers. (Press release)

USD 150 mn for Africa Decarbonisation Fund I

Scalar International and Mergence Investment Managers are looking to raise up to USD 150 mn for the Africa Decarbonisation Fund I, Bloomberg reported on Monday. The fund aims to back energy efficiency and renewables upgrades in 30k buildings across southern African nations and will invest in companies providing infrastructure for power generation, energy storage, EV charging stations, and smart-grid systems. Around 30% of the fund’s capital will target projects in South Africa.

Mostly European money: Roughly 80% of the fund’s capital will be sourced from global climate funds and European finance institutions, with the remainder coming from African players. Scalar and Mergence are in “advanced negotiations” with the EU-Africa Global Gateway Investment Package — the European Union’s EUR 150 bn initiative to spur investments in Africa.

Trump spares solar cell imports from tariffs: The US has exempted solar cells, semiconductors, and other electronic components from reciprocal tariffs, CNBC reported last week, citing a US’ Customs and Border Protection statement. The 20 exempted products are spared from both the 125% tariff on Chinese goods and the 10% baseline tariff on tech imports from other states, yet a separate 20% blanket tariff on all Chinese imports remains in place. The White House said the move is intended to give companies time to shift production to the US.

Cambridge University + UNJSPF back climate-focused bond index: Cambridge University and the UN Joint Staff Pension Fund (UNJSPF) are reallocating up to USD 750 mn into a new bond index that excludes companies that are expanding fossil fuel production, Reuters reported last week. Cambridge will invest up to GBP 200 mn (c.USD 261 mn), while the UNJSPF will contribute up to USD 500 mn. The Index is expected later this year. The Bloomberg Cambridge University Fixed Income Index — developed with input from CalSTRS, the UK’s Universities Superannuation Scheme, and Switzerland’s PUBLICA — filters out both firms increasing oil and gas output and financial institutions that continue to lend them.

OTHER STORIES WORTH KNOWING ABOUT THIS MORNING-

US halts USD 5 bn offshore wind project: The Trump administration has ordered a stop to all construction on Equinior’s USD 5 bn, 810 MW Empire Wind project off the coast of New York, which, unlike other renewable energy projects, relies on federal permitting. More than 90% of planned offshore wind projects — over 60 GW — are now at “serious risk,” according to consultancy Rystad Energy. (The Financial Times)

IMO pushes ahead with emissions levy on shipping

Big polluters at sea to face new fees: The UN’s International Maritime Organization (IMO) has approved draft amendments to the International Convention for the Prevention of Pollution from Ships (MARPOL) that wouldforce the global shipping industry — which is responsible for 3% of world’s GHG emissions — to reduce and pay for a portion of its emissions, according to a statement issued last week. The new rules — to be formally adopted this October — will take effect by 2027 and apply to ships over 5k gross tonnes, covering 85% of international shipping’s emissions.

The details: The draft sets two escalating emissions targets, requiring gradual cuts to ships’ GHG fuel intensity. A stricter standard mandates a 17% cut by 2028 from 2008 levels, increasing to 21% by 2030 and 43% by 2035, the Financial Times reported on Friday. Ships that fail to meet this strict target would pay USD 100 per excess tonne of CO2 equivalent. The softer target would see cuts by 4% by 2028 and 8% by 2030, increasing to 30% by 2035, but failure to meet this level would result in steeper fees of up to USD 380 per excess tonne. The system also allows for credit trading, with compliant vessels able to sell credits to those that fall short.

The possible gains: The levies could generate USD 11-13 bn annually that would go to a newly proposed net-zero fund aimed at supporting clean fuel adoption, rewarding low-emission ships, and helping developing states upgrade high-emission fleets, AP reported on Friday.

Most Arab states opposed the proposal: The draft was passed with support from 63 countries including China and Brazil — which were previously reported in February to formally oppose the levy, Financial Times reported on Monday. Sixteen countries voted against — nine of which were from our region, including Iran, Iraq, Jordan, Yemen, Oman, Bahrain, Saudi Arabia, Qatar, and the UAE.

REMEMBER- The preceding negotiations have seen divisions between advocates of heavy levies on carbon emissions — including the UK, Pacific Latin American, Pacific and Caribbean nations — and the KSA, China, Brazil, South Africa, and eight other countries who have argued then that the levy wasn’t necessary to meet targets and thatit would harm developing nations’ exports, drive up food prices, and deepen global inequalities. The EU also reportedly trimmed its proposed levies down to target a USD 30 bn revenue from the tax, down from an initial USD 60 bn.

Some advocates were disappointed: Clean Shipping Coalition’s President Delaine McCullough slammed the proposal as “business as usual”, according to a press release issued last Friday. McCullough stressed that delays in transitioning to net zero will drive up costs for developing countries, which are least equipped to absorb the fallout. Experts also argued that the IMO failed to deliver a strong fuel standard, enforceable efficiency rules, or a meaningful carbon price — leaving room for regional and industry level action to pick up the slack.

ICYMI- The US exited the negotiations over decarbonising global shipping last week, and threatened to take countermeasures to nullify any GHG tax on US-flagged vessels.

CALENDAR

April

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

29-30 April (Tuesday-Wednesday): Solar & Storage Live Egypt, Cairo, Egypt.

MAY

6-8 May (Tuesday-Thursday): Autonomous e-Mobility Forum, Ar-Rayyan, Qatar

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

11-15 May (Sunday-Thursday): Oman Sustainability Week, Muscat, Oman.

13-14 May (Tuesday-Wednesday): International District Cooling Conference, Riyadh, Saudi Arabia

14-15 May (Wednesday-Thursday): Saudi Arabia Green Energy Week, Riyadh, Saudi Arabia

JUNE

9-13 June (Monday-Friday): UN Ocean Conference, Nice, France.

15-17 June (Sunday-Tuesday): G7 Summit, Kananaskis, Canada.

16-26 June (Sunday-Saturday): Bonn Climate Change Conference, Bonn, Germany.

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

30 June-3 July (Monday-Thursday): International Conference on Financing for Development, Seville, Spain.

SEPTEMBER

8-9 September (Monday-Tuesday): Sustainable Buildings and RetrofitTech Qatar Summit, Doha, Qatar.

9-11 September (Tuesday- Thursday): Global Water Energy and Climate Change Congress, Manama, Bahrain.

9-23 September (Tuesday-Tuesday): UN General Assembly, New York City, USA.

OCTOBER

14-15 October (Thursday-Wednesday): Egypt Energy, Cairo, Egypt

20-21 October (Monday-Tuesday): Sustainable Buildings and RetrofitTech Saudi Summit, Riyadh, KSA

28-30 October (Tuesday-Thursday): EV Auto Show, Riyadh, Saudi Arabia

NOVEMBER

4-6 November (Tuesday-Thursday): World Social Summit, Doha, Qatar.

10-21 November (Monday-Friday): UN Climate Change Conference (COP30), Belém, Brazil.

22-23 November (Saturday-Sunday): G20 Leaders’ Summit, Johannesburg, South Africa.

24-27 November (Monday-Thursday): HVACR World, Dubai, UAE.

25-26 November (Tuesday-Wednesday): Sustainable Buildings and RetrofitTech Bahrain Summit, Manama, Bahrain.

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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