PtX Development Fund extends its first Power-to-X grant to Egypt.

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WHAT WE’RE TRACKING TODAY

TODAY: Financing updates from Acwa Power and Egypt + What to expect from COP29 in Baku next month

Good morning, ladies and gents. We have a compact issue this morning with a few financing updates from Acwa Power and Egypt, along with a crash course in what to expect from next month’s COP29 summit in Baku. First, some green news from the ride-hailing giant Uber…

THE BIG CLIMATE STORY OUTSIDE THE REGION- Uber Green goes even greener: Uber’s Uber Green service — previously a hybrid and EV ridesharing product at an extra fee — is going fully electric in 40 cities, including some in the US, Australia, and New Zealand, and all French cities. The company also pledged USD 800 mn to support its EV transition by 2040, encouraging governments to do more to incentivize EV supply as well as demand, Uber said. Around 180k Uber drivers are currently using EVs in the US, Canada, and Europe. Customers next year will have the EV-first preference, which ‘automatically matches’ users with an EV if one is around.

Uber has big green goals: Uber has pledged to go carbon neutral in North America and Europe by 2030, and in all global markets by 2040. Uber partnered with China’s BYD last July to add 100k EVs to its fleet to help meet that goal.

ALSO- Uber’s CEO Dara Khosrowshahi criticized the tariff campaign against Chinese EVs by several countries saying it's “bad for the planet” and increases transition costs for drivers.

The story made headlines in the international press: Reuters | CNBC | The Verge | BBC | Forbes

WATCH THIS SPACE-

#1- Emirati renewables company Amea Power will reportedly kick off operations for the first phase of its Ras Ghareb wind farm in March 2025, Al Mal reports, citing a government source it says has knowledge of the matter. The first phase of the USD 800 mn, 500 MW project will have a 250 MW capacity, and the second phase will be operational by July 2025.

REMEMBER – The company is expanding in Egypt: Adding to its portfolio of 1 GW worth of renewable energy projects, including the 500 MW solar plant in Abydos, alongside the Ras Ghareb farm, the company received approval from the Egyptian cabinet in July to expand its renewable energy projects in the country by the summer of 2025. Last September, the company secured two landmark projects in Egypt, inking power purchase agreements to develop and expand solar and battery energy storage system projects in Egypt. The company said it would pour USD 800 mn in investments into the two projects, which together can power some 769k homes in Egypt, cutting carbon emissions by 2.3 mn tons per year.

#2- China is oversupplying lithium to the global market to cause a “predatory” price drop and eliminate competitors, Reuters reports, citing comments made by US under secretary of economic growth Jose Fernandez. China’s lithium practices caused an 80% price drop in prices last year. Chinese producers of the metal have also felt the impacts of the plummeting prices, forcing some to temporarily halt production at certain mines, the newswire writes.

Portugal is also taking a hit: Lithium producers across the globe have had to scale back production and initiate layoffs, including in Portugal, which holds around 60k tons of reserves and is Europe’s biggest source of the metal.

#3- Renewable Energy Certificate (REC) prices could fall by as much as 76% –– from USD 46 per MWh to USD 11 per MWh –– between 2023 and 2050, according to a new report by Wood Mackenzie. The projections are based on a predicted surplus in the REC market due to a fourfold increase in renewable power generation across six Asia Pacific markets: Taiwan Region, South Korea, Australia, India, China, and Japan. Taiwan and South Korea have the highest REC prices, but they are forecasted to decline by over 70% by 2050. In contrast, China's REC prices may rise due to state-mandated policies increasing REC purchase requirements from both power and non-power industries starting in the late 2020s, the report says.

The share of renewable energy in these markets is expected to rise from 14% to 55% by 2050, while solar and wind costs are also projected to fall by at least 40% on average during the same period.

RECs are being used in the region: The Emirates Water and Electricity Company (Ewec) launched its first clean energy certificates in 2021 and has since embraced the instrument for its decarbonization strategy. It concluded its most recent auction last month for 3Q 2024. The UAE’s Adnoc also inaugurated last year the region’s first high-speed green hydrogen pilot refueling station last year, which would provide green hydrogen certificates from solar sources that are cleared by the International REC Standard.

FROM THE DEPT. OF GOOD NEWS-

Tanzania leads the way in climate-smart agriculture: Agriculture-dependent Tanzania is transforming its agricultural sector to tackle the growing challenges of climate change by using science-based approaches to build climate resilience and ensure food security, The East African reports. With agriculture being vital to the country's economy, farmers – especially small-scale ones – face severe threats from unpredictable weather patterns, such as droughts, floods and excessive rainfall, and new pests.

Climate-smart crops show big promise: Cassava – a staple drought-resilient tropical root – has become central to Tanzania’s adaptation efforts. Through a comprehensive seed system developed by the International Institute of Tropical Agriculture (IITA) and local authorities, the country produces over 83 mn disease-free cassava cuttings annually, generating TZS 3.5 bn (c. USD 1.3 mn). Meanwhile, the government is also promoting the nutritious, climate-resilient Orange-Fleshed sweet potato to combat food insecurity and climate threats.

The country is also innovating rice cultivation: The country is also experimenting with resilient rice varieties and a new cultivation technique called the Direct Seeded Rice (DSR) technique that is credited with reducing greenhouse emissions and water consumption by 12-35%.

DANGER ZONE-

Water demand is expected to soar due to conflict and tech sector expansion: Global demand for water is expected to surge due to intensifying conflicts in the water-scarce Middle East, data center growth, and population increases, CEO of Spanish utility group Cox Nacho Moreno told the Financial Times. Projected water needs will rise by 10-15%, doubling the market in four to five years, with the gap between water demand and availability expected to widen by 40% annually, he said.

What is Cox’s response? The company is planning to capitalize on this demand growth potential, preparing for a EUR 300 mn IPO and market capitalization of up to EUR 1 bn. The IPO is set to hit the floor on the Madrid Stock Exchange with a minimum of 25% of the company’s share capital, FT reported. Cox has also developed portable floating desalination plants to help meet water needs in MENA and plans to use IPO funds for long-term water service agreements and renewable energy projects across North America, Spain, and MENA.

Conflict and the water crisis compound each other: The water stress crisis being incurred around the world — amplified by climate change — could exacerbate local and regional conflicts. Water security and ecosystem preservation are closely linked to peace and prosperity and water or mismanagement can amplify conflict and inequalities, particularly impacting the most vulnerable populations. The cycle also works the other way where conflict exacerbates water stress, the report said. Seven Arab countries were in conflict as of 2021, posing significant challenges to water supply and infrastructure in the already water-stressed region.

We’ve already seen the effects of data centers in the US: The US “data center valley” in Virginia — the world’s largest concentration of data centers — has had its water consumption increase by almost 66% since 2019, reaching 7 bn liters. Big data centers are also located in water-stressed areas. In 2023, Microsoft said 42% of its water came from “areas with water stress,” and Google said 15% of its freshwater came from areas with “high water scarcity.”

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CIRCLE YOUR CALENDAR-

Egypt will host Cairo Water Week from Sunday, 13 October to Thursday, 17 October in Cairo. The event will explore the connection between water and climate and their impact on resilience in communities and will focus on investment in crisis management and intervention, and early warning systems for floods and droughts to ensure equitable access to clean and safe water.

Egypt will host the World Urban Forum from Monday, 4 November to Friday, 8 November in Cairo. The forum, established by the UN and one of its largest non-legislative events, will center around the effect of rapid urbanization on communities, economies, climate change, and policies and will bring together government representatives, academics, business people, urban planners, and more.

South Africa will host the Critical Mineral Africa Summit from Wednesday, 6 November to Thursday, 7 November in Cape Town. The summit aims to attract critical minerals investment to the continent and will be held alongside African Energy Week. The summit will be held in partnership with the Southern African-German Chamber of Commerce Partners representing Germany’s increasing investments in southern Africa.

Azerbaijan will host the United Nations Climate Change Conference or Conference of theParties (COP29) from Monday, 11 November to Friday, 22 November in Baku. The annual conference brings together governments, world leaders, and other stakeholders to advance the Paris Agreement and negotiate ways to fight climate change. The United Nations Framework Convention on Climate Change’s objective is to “stabilize greenhouse gas concentrations in the atmosphere at a level that would prevent dangerous anthropogenic interference with the climate system”.

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

PtX Development Fund extends its first Power-to-X grant to Egypt

Fresh financing for Egypt’s Ain Sokhna green hydrogen plant: Scatec secured a EUR 30 mn grant from the PtX Development Fund for the 100 MW, EUR 500 mn green hydrogen project it is developing with Fertiglobe, Scatec, Orascom Construction, the Sovereign Fund of Egypt, and the Egyptian Electricity Transmission Company, according to a press release. The grant adds more German federal funding to the plant, which is planned to supply Germany with 10% of its annual ammonia needs.

It’s part of a wider project to secure Europe’s green fuel needs: The EUR 30 mn grant is part of a wider EUR 270 mn project to support green hydrogen production efforts in Egypt, Morocco, South Africa, Brazil, Georgia, India, and Kenya, according to a memorandum (pdf).

Refresher: Fertiglobe, Scatec, Orascom Construction, the Sovereign Fund of Egypt, and the Egyptian Electricity Transmission Company are developing a green hydrogen plant which will produce some 13k tons of green hydrogen a year to create 70k tons of green ammonia at Fertiglobe’s ammonia plants. 270 MW of solar and wind power plants will be installed to power the plant.

More details: Fertiglobe will buy the plant’s entire production of green ammonia for the coming 20 years — marking it the world’s first long-term green ammonia purchase agreement. Fertiglobe secured a EUR 397 mn offtake agreement from the German government’s H2Global program in July to supply green ammonia to the EU from its Egyptian facilities between 2027 and 2033, following an auction.

What is the PtX Development Fund? The fund – established by Germany's Federal Ministry for Economic Cooperation and Development and state-owned bank KfW – aims to support Power-to-X projects in developing countries. Fund first announced a call for proposals for a grant from the EUR 270 mn fund last year.

Acwa Power inks LOI with AIIB for wind farm financing

Acwa power secures financing for Uzbek wind farms: Saudi renewables giant Acwa Power inked a letter of intent (LOI) with the Asian Infrastructure Investment Bank (AIIB) for a USD 150 mn (SAR 563 mn) line of credit to bankroll the Kungrad 1-2-3 wind power projects in Uzbekistan, according to a statement picked up by Argaam. The three-year financing agreement covers all three wind farms and is backed by an institutional guarantee from Acwa Power.

About the projects: The Kungrad 1, 2, and 3 wind farms are located in the Republic of Karakalpakstan. Each wind farm has a 500 MW along with 100 MW of BESS. Commercial operations are set to begin in 2Q 2028.

REMEMBER- These wind farms are part of a larger joint development agreement Acwa signed with Japan’s Sumitomo Corporation earlier this month to develop 2.5 GW worth of renewable energy projects and nearly 1 GW worth of battery energy storage systems (BESS) in Uzbekistan valued at USD 4.2 bn. The agreement saw Acwa divest 49% of its stake in a group of Uzbek-based renewable energy projects to Sumitomo.

Acwa is doubling down on Uzbekistan: Aside from projects co-owned with Japan’s Sumitomo, Acwa has numerous other projects in its Uzbek green energy portfolio. The company is building a green hydrogen plant in Tashkent that will generate 3k tons of green hydrogen annually during its initial production phase, with a 52 MW wind farm to support the project. Acwa also signed three power purchase agreements totaling USD 2.5 bn in March with the National Electric Grid of Uzbekistan and the country’s Investment, Industry, and Trade Ministry for 1.4 GW worth of solar projects and three BESS units totalling a capacity of 1.5 GWh, among other initiatives in the country.

Here’s a crash course in what to expect from COP29 in Baku

Here’s what to expect in Baku: With only 33 days left until COP29 kicks off in Baku, we take a look at what has taken place since COP28 and we can expect to go down at the upcoming summit. Did you miss our COP28 refresher? Click here to read.

Here’s what is happening ahead of COP29 next month.

ON THE AGENDA-

Past and future hosts join forces to raise emission pledges: The UAE, Azerbaijan, and Brazil — the hosts of COP28, COP29, and COP30 — launched an initiative to drive countries to make more ambitious climate pledges in February. Dubbed the COP Presidencies Troika, the trio will work on a ‘Roadmap to Mission 1.5°C’, a plan to significantly increase the goals and implementation of the nationally determined contributions (NDCs) of all countries under the Paris Agreement. It will also focus on driving political action and directing resources towards climate finance, especially for developing countries. The group called on countries to submit their new round of national climate plans — with a submission deadline set for 2025. To encourage other nations to follow suit, Troika member UAE plans to submit their NDC ahead of COP29 next month.

COP29 host is also pushing for global energy storage expansion by 2030, planning to pitch a Global Green Energy Storage Pledge to over 190 countries, aiming to increase global energy storage capacity sixfold by 2030. The initiative aligns with the G7’s agreement to reach a target of 1.5 TW of energy storage capacity by 2030, which the group signed in April (pdf). Countries around the world would need to boost their energy storage capacities by 158 GW annually through 2030 in order to reach the proposed target, Bloomberg writes.

Phasing out language may be back in action. The recently adopted UN Pact for the Future has brought back to the stage the fossil fuel phase-out debate at COP29 in November, confirming the need to transition away from fossil fuels in energy systems in order to achieve net zero emissions by 2050 and keep global temperature rise to 1.5 °C above pre-industrial levels.

Implementing the Global Stocktake outcomes: The conference will tackle parties’ contribution to global efforts by submitting 1.5-aligned Nationally Determined Contributions (NDCs) and accelerating action on renewable energy, energy efficiency, non-carbon dioxide emissions, and the phase-down of unabated coal power. It will also include discussions on National Adaptation Plans, Biennial Transparency Reports (BTRs) to track progress, and collaborative action between global bodies, including the G7 and G20.

ON THE FINANCE FRONT-

The Finance COP: This year’s conference, dubbed the “Finance COP,” aims to align climate finance contributions with global needs, despite ongoing disputes over the New Collective Quantified Goal (NCQG), according to the World Economic Forum. The private sector’s role is crucial, as its involvement is necessary to ensure effective climate finance schemes.

#1- A recent UN report will set the stage for tough COP29 talks on financing needs: Developing countries need nearly USD 500 bn in financing annually to reach climate goals, with as much as USD 6.9 tn needed by 2030. The report by the UN’s Standing Committee on Finance criticized rich nations for missing their 2020 USD 100 bn per year goal, which was met two years late. Other nations pressure for higher funding than the UN estimates, with India calling for up to USD 1 tn in public finance alone, which EU countries believe is not feasible.

Opinions are split across different regions: Arab nations are supporting a proposal that calls for developed countries to provide USD 441 bn in grants annually, aiming for a total of USD 1.1 tn from all sources, including private finance. Another proposal, favored by the EU, sets a broader funding target of over USD 1 tn annually that leaves room for funding sources to come from domestic investments and private funding.

#2- Azerbaijan launched the Climate Finance Action Fund (CFAF) aimed at raising USD 1 bn to support climate action in developing countries, according to a statement published on Friday. The fund, to be capitalized by contributions from fossil fuel-producing nations and companies, aims to mobilize the private sector and de-risk investments. It will also provide concessional and grant-based support to address natural disasters and offer guarantees for renewable energy producers. The fund will focus on various sectors, including food and agriculture, and will reinvest profits from projects back into the fund. Half of the capital will support clean energy tech and energy efficiency projects in developing countries, while the remaining funds will help member countries meet their Nationally Determined Contributions to keep the 1.5°C temperature target within reach. The CFAF is part of a broader COP29 action agenda, which includes 14 initiatives working on climate action.

#3- More on the Loss and Damage Fund: The Loss and Damage Fund, still in its formative stages, requires significant attention. The fund needs to appoint an executive director and secure more substantial financial commitments to address global loss and damage needs. The involvement of the private sector and innovative funding mechanisms are essential to maximize the fund’s impact. Additionally, adaptation strategies must be prioritized, with a focus on developing and implementing National Adaptation Plans (NAPs) and closing the adaptation finance gap.

MORE AGREEMENTS EXPECTED-

The UAE and Azerbaijan signed multiple agreementsfor cooperation in sustainable development across the renewable energy and environmental sectors ahead of COP29 last January. UAE's renewables giant Masdar broke ground in June on three renewable energy projects with a total capacity of 1 GW in Azerbaijan as part of the company’s intended 10 GW pipeline for the country. It also launched the operations of its 230MW Garadagh Solar Park in Azerbaijan — the largest in the region and the first independent solar project to receive foreign investment — last year.

Water treatment, solar, and emissions updates from Saudi, Egypt, and Bahrain

WATER TREATMENT-

Alkhorayef Water wins USD 10.5 mn O&M contract for water and sewage plants:

Saudi’s Alkhorayef Water and Power Technologies secured a SAR 39.4 mn (USD 10.5 mn) contract from the Zakat, Tax, and Customs Authority (ZATCA) to operate and maintain water and sewage treatment plants at the country’s land ports, according to a Saudi exchange disclosure. Under the contract, Alkhorayef will maintain and operate the facilities.

SOLAR-

Egypt lines up solar panel manufacturing: The first USD 1.8 mn phase of a solar panel mounting and installation factory is set to kick off in Egypt’s Ain Sokhna industrial zone within two months, according to a statement. The factory is being built under a contract inked between industrial developer Main Development Company and project owner Pyramids Alu — a JV between Egypt’s Alu Africa and China’s Alu Pro and should eventually reach a monthly capacity of 1.8k tons and only local components in its production.

Danone Egypt considers solar power: Danone Egypt is evaluating the possible establishment of a solar power plant for its Al Obour Factory, General Manager Hisham Radwan told Zawya Projects. The company is considering the addition to power its factory — which has an annual production capacity of 120k tons using 70-75% locally sourced raw materials — in order to reduce costs and emissions. The project is part of a USD 41 million investment push by the company.

EMISSIONS-

Bahrain mulls a consolidated, real-time emissions monitoring platform: The Supreme Council for Environment (SCE) in Bahrain is planning to develop a unified platform for real-time monitoring of industrial emissions as part of its continuing efforts to improve environmental compliance, according to a tender announcement by the Bahrain Kingdom Tender Board. The SCE is searching for bidders with experience in cloud-based solutions, specifically on Amazon Web Services (AWS) in Bahrain, to implement this platform. The bidder must also have completed a similar project before and possess at least five years of market experience. The deadline to apply is 13 November.

More details: Dubbed as the Continuous Emissions Monitoring for Industrial Facilities, the project will allow continuous access to emissions data from various industries, enabling the council to detect any deviations from environmental standards instantly. The project requires industrial facilities to install continuous emissions monitoring systems (CEMS) in their facilities to support data gathering and regulatory compliance.

OTHER STORIES WORTH KNOWING ABOUT THIS MORNING-

UAE EVS + Savvy Charging for EV partnership ahead of new Emirati carbon laws: UAE EVS — the country’s first EV center — and Savvy Charging Technologies — founder of the region’s first mobile EV charger — have partnered to develop a framework for e-mobility solutions in 2025 ahead of new carbon reduction laws coming into effect in the country. The companies will invite other industry players to address software, service, and charging challenges that hinder EV uptake, and is set to announce new projects soon, said founder of Savvy. (Statement)

Google explores nuclear energy to power up energy-intensive data centers

Google is exploring the use of nuclear energy in the US and other countries as a sustainable way to power energy-intensive data centers, Bloomberg reports. Working with utility partners and power generators to find solutions for onboarding more power to the national grid would help navigate “highly regulated markets” in the US, global head of data center energy Amanda Peterson Corio said. Other tech giants like Microsoft and Amazon have also turned to nuclear as a power source to meet emission targets amid surging electricity demand for data centers. Both companies turned to the state of Pennsylvania to get their nuclear energy, reports Bloomberg.

REMEMBER- Google’s emissions surged nearly 50% in five years due to AI energy demand: Tech giant Google’s greenhouse gas emissions have risen 48% within the past five years, spurred by the massive energy consumption needed for its data centers and supply chain emissions as it integrates AI into more products. Google reported total GHG emissions of 14.3 mn tons of CO2 equivalent in 2023, marking a 13% increase from the previous year and a 48% rise since the 2019 base year. Microsoft also reported a 30% increase in carbon emissions since 2020, primarily driven by its AI investments.

Google’s cloud has infrastructure in the region: Google has several energy-intensive cloud infrastructures in the region. In 2023, it launched its new cloud region in Dammam, Saudi Arabia, which is estimated to contribute around USD 109 bn to the Saudi economy by 2030, according to a study by Access Partnership and commissioned by Google Cloud. Over in Kuwait, three large sites were allocated to build Google data centers in May 2023, with a completion date set for 2025, Kuwait News Agency reported.

3i Infrastructure receives EUR 309 mn offer for Valorem stake: UK-headquartered investment firm 3i Infrastructure has received a EUR 309 mn offer for its 33% stake in French renewable energy developer Valorem, Reuters reports. The binding offer, made by AIP Management and co-investors, reflects a 15% increase from the firm's March valuation, reflecting growing interest in the sector. Valorem's portfolio includes onshore wind, solar, and hydroelectric power projects across France, Finland, Greece, and Poland. The transaction, pending regulatory approvals, is expected to close in 1Q 2025.

Bahrain explores the use of artificial reefs to boost fish stocks

Bahrain considering clay and concrete reefs to boost marine life: Bahrain's Supreme Council for the Environment (SCE) has given preliminary support for a proposal to install artificial reefs along the coastline to help boost fish stocks and reduce fishing costs, News of Bahrain reports. The reefs, made from either concrete or clay, would provide breeding grounds for marine life and cut costs for local fishermen by cutting travel distances.

Concrete may be a more efficient choice, but a feasibility study was commissioned to determine the project's cost-effectiveness and the best material, the council said. Concrete reefs are credited for being more durable and better tested than the new, experimental clay reefs.

Artificial reefs are not new to the region: UAE-based climate tech company Zeroe is experimenting with clay reefs near Umm Khorah island in Abu Dhabi's Al Dhafra region. Partnering with the Hong Kong-based startup Archireef, the company launched Project REEFrame, where around 160 reef clay tiles were placed in the region with the help of divers last May. The project involves creating artificial reefs and transplanting coral fragments to preserve marine ecosystems. Hong Kong-based startup Archireef’s 3D-printed clay tiles are currently being used off the coast of Hong Kong and the UAE, with possible expansion to Jordan, Egypt, Saudi Arabia, and others.

CALENDAR

OCTOBER 2024

10-12 October (Thursday-Saturday): The IEEE International Conference on Artificial Intelligence & Green Energy, Yasmine Hammamet, Tunisia.

10-12 October (Thursday-Saturday): EVs Electrify Egypt Summit, Cairo, Egypt.

13-17 October (Sunday-Thursday): Cairo Water Week, Cairo, Egypt.

15-16 October (Tuesday-Wednesday): Solar & Storage Live KSA, Riyadh, Saudi Arabia.

16-17 October (Wednesday-Thursday): Upscaling Investment on Small-Scale Renewable Energy in Rural Areas Forum, Tunis, Tunisia

17-19 October (Thursday-Saturday): Africa Solutions Week 2024, Rabat, Morocco.

25-27 October (Friday-Sunday): Al Sidr Environmental Film Festival, Abu Dhabi, UAE.

NOVEMBER 2024

4-7 November (Monday-Thursday): Abu Dhabi International Petroleum Exhibition & Conference (ADIPEC), Abu Dhabi, UAE.

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

4-8 November (Monday-Friday): AfricanEnergy Week, Cape Town, South Africa.

6-7 November (Wednesday-Thursday): Renewable Energy Forum Africa, Tunis, Tunisia.

6-7 November (Wednesday-Thursday): Critical Mineral Africa Summit, Cape Town, South Africa.

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

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

18-19 November (Monday-Tuesday): G20 Summit, Rio de Janeiro, Brazil.

19-22 November (Tuesday-Friday) Aquaculture Africa 2024, Hammamet, Tunisia.

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

26-28 November (Tuesday-Thursday): Future Power Expo, Riyadh, Saudi Arabia.

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.

15-16 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, Riyadh, Saudi Arabia.

FEBRUARY 2025

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.

JUNE 2025

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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TODAY: Financing updates from Acwa Power and Egypt + What to expect from COP29 in Baku next month

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PtX Development Fund extends its first Power-to-X grant to Egypt

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Acwa Power inks LOI with AIIB for wind farm financing

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Here’s a crash course in what to expect from COP29 in Baku

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Water treatment, solar, and emissions updates from Saudi, Egypt, and Bahrain

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Google explores nuclear energy to power up energy-intensive data centers

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Bahrain explores the use of artificial reefs to boost fish stocks

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PtX Development Fund extends its first Power-to-X grant to Egypt

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Acwa Power inks LOI with AIIB for wind farm financing

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Here’s a crash course in what to expect from COP29 in Baku

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Water treatment, solar, and emissions updates from Saudi, Egypt, and Bahrain

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Google explores nuclear energy to power up energy-intensive data centers

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