Good morning, folks. It is another very busy week of climate news, with a pile of updates on electric mobility and new major investments — sealed or planned — in everything green across the region. But first, an update on a major climate action deadline that most of the world missed…

THE BIG STORY ABROAD THIS WEEK- Major global polluters fumble climate February deadline: The EU, China, and India have all missed the UN-mandated February deadline to submit their Nationally Determined Contributions (NDCs) to the United Nations Framework Convention on Climate Change (UNFCCC). The missed deadline is raising concerns that climate action may not be a top priority for some governments, despite USD 2 tn in global investments in clean energy and infrastructure last year.

What are NDCs, again? An NDC is a five-year plan that signatories of the Paris Climate Accords are required to submit to the UNFCCC, outlining their efforts and plans to reduce emissions and mitigate climate change.

Who came through? Other major economies, such as the UK, Japan, Brazil, and Canada, have all managed to meet the deadline, along with the US, although it is set to withdraw from the agreement.

The UK’s plan stands out: The UK’s submission is the only one that is set to conform to the Paris Accord’s 1.5C warming target, with the country vowing to reduce its carbon emissions by 81% by 2035 compared to 1990 levels, Bloomberg reports, citing an analysis by Climate Action Tracker.

ALSO- The UAE was the only nation in MENA — and the very first country — to submit its NDCs, according to the UN’s NDCregistry. The UAE pledged to cut emissions by 47% by 2035 in its early NDC plan submitted last November prior to COP 29.

The story made headlines in the international press: Reuters | Bloomberg | Financial Times | AP | Washington Post | Politico

HAPPENING NEXT WEEK-

TheEgypt Energy Show will kick off on Monday, 17 February and run through to Wednesday, 19 February in Cairo. The event will bring together over 47k attendees and will highlight Egypt’s role in driving green energy transformation in the region under the theme “Building a secure and sustainable energy future.” Speakers include Egypt’s Petroleum and Mineral Resources Minister Karim Badawi, Infinity Power CEO Mohamed Ismail Mansour, and Fertiglobe CEO Ahmed El Hoshy.

WHAT WE’RE TRACKING REGIONALLY-

#1- Infinity’s EV infrastructure numbers on the rise: Infinity has installed 200 EV charging stations with 700 charging points across 16 Egyptian governorates, according to a Thursday press release (pdf). The company hopes to install 1k charging points by 4Q 2025, Managing Director of Infinity EV Division Shams Abdel Ghaffar said in the statement.

Infinity is on a roll: Infinity signed an agreement with Egyptian real estate company MG Developments in August to install and operate EV charging stations in several of their developments. It also partnered with SIAC Assets & Facilities Management to install and manage EV chargers at their facilities in March and inked a similar agreement with Sodic. It is also working on a JV with EV charging product manufacturer Recharged to manufacture and sell home EV chargers.

Branching out regionally: Infinity and Middle East Holding Company (MEH) launched a new JV, Infinity Jordan, to build over 1k charging points across the country by 2030 back in December.

ALSO FROM INFINITY- Egypt has allocated 20 sq km of land for Masdar, Hassan Allam Utilities, and Infinity Power’s 900 MW solar plant in the Al-Wahat region, a source at Hassan Allam Utilities confirmed to EnterpriseAM. The land is part of some 10k sq km the Egyptian New and Renewable Energy Authority has allocated for renewables projects in the New Valley Governorate. The news was first picked up by Al Arabiya on Sunday.

ICYMI- The country approved power purchase agreements for the plant — along with the 300 MW Benban solar farm and 720 MWh of battery storage— with the consortium in November. Both projects are expected to begin trial operations in 2025.

IN OTHER UPDATES FROM EGYPT- Scatec’s 1 GW solar power plant at EgyptAlum’s Nagaa Hammadi industrial complex will cost some USD 750 mn, according to a statement published Tuesday. The project will be developed over two phases, each with a 500 MW capacity. The first phase could become online as early as this summer, according to the timeline given by the government when the agreement was signed back in February 2024.

The project will help the company reduce its emissions, a move that is essential to sustain its access to EU markets as the bloc advances its CO2 border tax (CBAM) that would require firms exporting steel, cement, aluminum, electricity, fertilizers, and hydrogen into the EU to report manufacturing and eventually charge pollution fees on those products by 2026

REMEMBER- The CBAM will have a big impact on the Egyptian aluminum industry: The EU is Egypt’s largest trading partner, accounting for 31.1% of the country’s exports in the 2022-2023 fiscal year, and the country’s EU-bound exports of aluminum accounted for 79% of Egypt’s total aluminum exports in 2022.

AND- Egypt close to bagging EU financing for renewable grid connection: The Egyptian government is finalizing negotiations for over a EUR 200 mn financing from the EU and the European Bank of Reconstruction and Development to develop a 198 km power transmission line connecting Gabal El-Zeit wind farm to the grid, a senior government official told Asharq Business on Thursday. The funds will include a EUR 165 mn loan and a EUR 35 mn grant, and the project’s development could take up to a year to finish.

Part of an expansion plan: Egypt’s New and Renewable Energy Authority received government approval to build a 252 MW wind power extension for the Gabal El Zeit wind farm last month. The energy produced from the project will be fed into the national grid.

ALSO FROM EGYPT- Egyptian-based agriculture, construction, and mining machinery manufacturer Go Green is planning to sell carbon credits to Europe by 2027, Shorouk News reported on Sunday, citing remarks by the company’s Managing Director Hossam Abdelkader. The company is currently working with Gold Standard Bank to conduct studies on the volume of carbon emissions reduction certificates it can issue. The announcement was made at the EGX, marking the start of trading on Go Green’s newly issued shares.

#2- Volar Air to build eSTOL in UAE: Hong Kong’s Volar Air Mobility is eyeing the manufacturing of RX4E — an electric short take-off and landing (eSTOL) aircraft — in Abu Dhabi for export and local market use, chairman Hooi Hing Lee told The National on Wednesday. No timeline or investment ticket was disclosed.

ICYMI-Volar signed an MoU with the China-UAE Industrial Capacity Cooperation Demonstration Zone in November to explore the development of a comprehensive green aviation ecosystem in the UAE.

MORE FROM UAE- Dubai’s Roads and Transport Authority (RTA) will complete technical studies for its solar-powered Railbus system within two years, according to a Dubai Media Office statement on X published on Monday. The solar-powered network, designed to complement the metro and tram, aims to be 20-30% cheaper than its global counterparts, with capsule-like vehicles holding 40 passengers each.

The details: Each Railbus vehicle will use 3D-printed recyclable materials and the tracks are set to be covered in solar panels. The system targets first- and last-mile transit gaps in residential areas, linking to metro stations, RTA CEO Abdul Muhsen Ibrahim Kalbat told The National.

What's next? After the studies are completed, a feasibility study will be implemented to explore the best pilot routes and areas to launch the transport network, Kalbat added.

#3- SPPC invites bids for 8 GWh BESS projects: The Saudi Power Procurement Company (SPPC) has issued a Request for Proposals to qualified bidders for 2 GWh Battery Energy Storage System (BESS) projects, the first group of its 8 GWh developments, Trade Arabia reported on Wednesday. The deadline for submissions is 2 June.

ICYMI-SPPC prequalified 33 companies last December for the project, which includes four segments, each with a capacity of 2 GWh — Al Muwyah and Haden in Makkah, Al Khushaybi in Qassim, and Al Kahafa in Hail. The projects will operate under a build-own-operate model, with the selected bidders retaining full ownership through a special purpose vehicle (SPV). Each SPV will be granted a 15-year Storage Service Agreement with SPPC.

#4- Morocco advances 3 GW interconnection project: Morocco’s National Office of Electricity and Drinking Water (ONEE) has reportedly tapped local engineering firm Geo Aman to conduct topographical surveys for its 3 GW power transmission line connecting Marrakech to the Western Sahara’s Dakhla for some MAD 5.4 mn, Morocco-based 24saa reported on Thursday. The 1.1 km project is being implemented in two phases, with the first reportedly spanning 600 km from Wadi Lakraan to Tantan at MAD 3 mn and the second covering the remaining 500 km to Marrakech at a cost of MAD 2.4 mn, with a launch date set for 2028.

REMEMBER- ONEE reportedly initiated the review process for applications for the high-voltage 3 GW power cable project last November. The bidders included the US-based GE Vernova, Germany’s Siemens Energy, Power China, China’s TBEA, and India’s Larsen & Toubro.

IN OTHER INTERCONNECTION UPDATES- Phase two of Egypt-Saudi interconnection is set for November: The second phase of the Egypt-Saudi electricity interconnection project is on track for completion by November 2025, allowing the exchange of 3 GW, Al Mal reported on Saturday, citing comments made by Egyptian Electricity Minister Mahmoud Esmat at a press conference. The first phase — with an exchange capacity of 1.5 — is set to launch in June and has already surpassed 70% of completion as of last month.

Egypt is big on interconnection projects: Egypt and Greece are currently working on advancing their 3 GW Egypt-Greece interconnection project, with a EUR 20 mn loan from the EU to fund feasibility studies reportedly being negotiated. The country is also working on a potential interconnection with Italy. Egypt currently exports electricity to Jordan, Libya, and Sudan, with studies underway to enhance electricity links with both the Levant and Arabian Maghreb, further integrating Egypt into regional power networks.

WHAT WE’RE TRACKING GLOBALLY-

#1- Brookfield eyes sustainable energy firms for acquisition: Canada-based investment firm Brookfield — which oversees USD 126 bn in renewable and low-carbon investments — is actively scouting for major publicly traded sustainable energy (solar and wind) firms to acquire, Brookfield’s president Connor Teskey told the Financial Times on Wednesday.

The reasoning: Teskey pointed to surging US electricity demand from data centers, arguing that the shift would sustain long-term demand for all types of energy sources, including clean energy, despite US President Donald Trump move to pull the plug on climate policy last month.

The firm raised USD 3.5 bn for its second energy transition fund, as part of its 4Q record fundraising of USD 29 bn in a funding round that is set to close by mid-year.

#2- China is set to list its inaugural CNY-denominated sovereign green bond in London by the end of the year, Bloomberg reported on Tuesday. No details have been shared yet, but portfolio manager at Azimut Investment Management Kuan Weng Pang expects the issuance size to be at least USD 3 bn.

Why it matters: The issuance will redraw attention to China, whose issuance plummeted in 2024, and “burnish its [green] credentials even more,” research lead for sustainable finance in Asia at the Institute for Energy Economics and Financial Analysis Ramnath Iyer said. China’s issuance of green bonds — by both public and private sectors — is currently second in the world at USD 540 bn, but only 1% of sales came from overseas investors.

#3- BYD to form credit pool to avoid EU fines: BYD is holding talks to set up a carbon credit pool with European carmakers looking to avoid EU fines on emissions, Reuters reported on Monday, citing comments made by BYD special adviser Alfredo Altavilla. BYD would sell the automakers carbon credits. No further details were added.

REMEMBER- Two major emissions pools emerged earlier this year as automakers scramble to meet the EU’s strict 2025 emissions rules in a bid to evade possible fines of up to EUR 15 bn. The first Tesla-led pool will see Stellantis, Toyota, Ford, Mazda, and Subaru buy carbon credits from the fully electric Tesla, while another pool led by Mercedes will see Polestar, Volvo Cars, and Smart are looking to sell their emission credits to Mercedes.

#4- The EU is planning to launch its critical resources purchasing platform next September, starting with hydrogen before adding critical minerals, Reuters reported last week, citing three anonymous sources. The second phase will see the purchase of critical minerals, possibly launching in 3Q, before gas purchases are made at an undetermined time. PwC and Slovak software company Sféra were tapped in January to develop the EUR 9 mn platform, which aims to pool orders to give each buyer access to better purchases to support the green transition.

The concept isn’t new: The platform was inspired by an existing pooling mechanism for natural gas purchases named AggregateEU — where member states are required to contribute a certain volume — but will instead be voluntary. Each transaction will be reported without disclosing the prices. “We do not plan to step in and replace the markets,” one of the sources said. “We are trying to be the interface, providing a tool that would actually support the market.”

THE SCORECARD-

The MENA region is targeting 236 GW of installed renewable energy capacity by 2030, according to Dubai-based think tank Dii’s MENA energy outlook 2025 report (pdf). Capacity reached 30.3 GW by the end of 2024 — more than double 2020’s 13.8 GW — with the UAE leading (with 6.3 GW), followed by Egypt (4.6 GW), KSA (4.5 GW), Morocco (3 GW), Jordan (2.6 GW), Oman (736 MW), Tunisia (669 MW), and Algeria (423 MW). Despite the rapid growth, current and planned installations still fall far short of the 2030 target, requiring acceleration in renewable deployment.

Hydrogen ambitions are similarly reliant on scaling up renewables, as the region aims to produce nearly 10 mn tonnes per annum of hydrogen by 2030, with KSA leading (at 4 mn), followed by Egypt (1.5 mn), the UAE (1.4 mn), Oman (1-1.25 mn), Jordan (500k), Morocco (400k), and Tunisia (320k). More than 110 projects have been announced, requiring over 450 GW of renewable energy. Meeting the 10 mn target will require an additional 128 GW in renewable capacity. Green hydrogen accounts for 90% of the 117 hydrogen projects announced, while the remainder is split between blue hydrogen and yellow hydrogen, which utilizes waste as feedstock.

The GCC ramping up investments could give a boost: Gulf nations plan to invest USD 100 bn in renewable energy by 2030, aiming to cut emissions by 20%, Muscat Daily reported on Monday, citing an announcement made at the 43rd meeting on Future Climate Change Management & Economic Development in the Gulf states. Gulf countries are vulnerable to climate risks, with temperatures potentially increasing by up to 2.5°C by the end of the century, exacerbating acute climate challenges like droughts and dust storms.

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CIRCLE YOUR CALENDAR-

Oman Climate Week will begin on Monday, 24 February and run through to Thursday, 27 February in Muscat. The event will facilitate a dialogue on how Oman can align with the Paris Agreement and the goal to reach net zero emissions. Topics of interest include Climate Mitigation, Climate Adaptation, Climate Finance, Carbon Markets, Climate Technologies, Loss & Damage, and Social Inclusion.

The UAE will host Connecting Hydrogen MENA from Monday, 24 February to Wednesday, 26 February in Dubai. The event will be the largest hydrogen event in the region and will bring together over 3k attendees from over 50 countries to discuss collaboration in the sector along with ammonia, manufacturing, and transport.

The Carbon Capture MENA Summit will run from Tuesday, 25 February to Wednesday, 26 February in Dubai. The event will tackle net zero goals and emissions through the lens of decarbonisation, with 450 attendees slated to discuss the carbon capture, utilization, and storage value chain.

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