Second phase of Jordan-Iraq electrical interconnection set for completion early next year

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WHAT WE’RE TRACKING TODAY

TODAY: Updates on Jordan-Iraq interconnection project + Volt inks a contract for 3k e-trucks

Good morning, ladies and gents. It’s a fairly brisk issue this morning with some key updates on interconnection projects in Egypt and Jordan, along with a sizable contract signed in the UAE for electric trucks. First, let’s turn our attention back to the brewing tensions between China and… Canada, now?

THE BIG CLIMATE STORY OUTSIDE THE REGION- The trade war with China widens to Canada: Canada will slap a 100% tariff on Chinese EVs and a 25% tariff on Chinese steel and aluminum from 1 October, mirroring a similar move by the US and the EU. Tariffs will apply to all EVs shipped from China including Tesla vehicles. Canadian Prime Minister Justin Trudeau stated that these measures are intended to protect Canadian industries in response to China's state-directed policy of over-capacity. “Actors like China have chosen to give themselves an unfair advantage in the global marketplace,” Trudeau said.

What’s happening with Tesla? Import volumes in Vancouver port spiked 460% y-o-y in 2023 when Tesla began shipping Shanghai-made EVs to Canada. Company shares closed down 3.2% in response to the decision, with analysts speculating there might be a financial impact if the company is forced to export vehicles to Canada from its higher-cost production base in the US.

ON A RELATED NOTE- It’s a decisive trade decision week for the Chinese EV tariff hike in the US. Green industry manufacturers are bracing for final implementation plans by the Biden-Harris administration for tariff hikes this week, Reuters reports. The proposed tariffs — which include quadrupling duties on Chinese EVs to 100% and doubling tariffs on semiconductors and solar cells to 50% — have raised alarm among US manufacturers who fear the move could stifle the US’s green transition. US companies have urged the administration to postpone implementation of the tariffs or reconsider the increase, arguing the decision will threaten investments in green industry and the adoption of EVs.

Case in point: US automobile giant Ford Motor has specifically requested a reduction in proposed tariffs on artificial graphite, a critical material for EV batteries, citing its continued reliance on Chinese suppliers, the business newswire writes. Autos Drive America, a group representing international vehicle manufacturers, has called for stable tariff rates on batteries and other critical minerals through at least 2027 to give way to carmakers to "fulfill investments in US production and to bolster consumer adoption" of electric vehicles.

WATCH THIS SPACE-

#1- Egypt and Italy are set to complete preliminary studies for their planned 3 GW electric interconnection project by 4Q this year, sources from Egypt’s Electricity Ministry told Al Mal. The study conducted by a Norwegian consultancy appointed by the Italian side includes surveying the proposed route, identifying potential starting points in Egypt and Italy, and assessing the depth profile of the Mediterranean Sea. The study, which is funded by the Italian side, will be presented to the Egyptian side for review upon completion, according to the sources.

Who is funding the project? The sources said Egypt would not bear the cost of launching the power link which could be a core for an interconnection project between Egypt and Europe at a later stage. They said that Egypt’s Electricity Transmission Company would receive electricity transmission fees for the project.

Background: The two sides are assessing the potential to build a 3 GW, 2.8k km, HVDC cable that would connect Egypt's West Sohag region to Italy's Dolo Substation in the northern Mestre Industrial Area. The corridor is set to meet 5% of Italy's peak electricity demand, and could expand to include an interconnection with the Gulf.

#2- Iran seeks investors for 40 GW of wind power potential: Iran’s Renewable Energy and Energy Efficiency Organization (SATBA) is offering 40 GW of wind power capacity to lure in investors to the sector, Tehran Times reports, citing statements by SATBA official Mostafa Rabiei. “After two years of collecting information in the preliminary stage, we have reached the figure of about 40k megawatts of electricity generation capacity which can be realized by investment in this sector,” Rabiei said, without providing details on the plan. Renewables account for about 7% of Iran’s total electricity generation with SATBA setting the country’s renewable power plants capacity at 1.2 GW, according to official data cited by Tehran Times. Iran plans to expand its renewables capacity further to 10 GW by August 2025.

REMEMBER- Iran’s renewables production increased 9%: Iran produced 261 mn kWh of renewables between 21 June and 21 July, marking a 9% increase from the previous month. This comes on the back of increased wind energy projects which represent 40% of the country’s total renewables capacity.

#3- Morocco’s waste imports from Europe face backlash: A decision by Morocco’s Energy Transition and Sustainable Development Minister Leila Benali to authorize the import of over 2 mn tons of rubber tyres and household waste from European countries for use as an energy source has faced strong opposition, Hespress reported earlier this week. Local environmental organization Ecolo Plate Forme du Maroc du Nord has urged Benali to reconsider the decision which it warned would have a negative impact on the environment and citizens health, according to a statement (pdf). The waste imports are said to include over 1 mn tons from the UK, 980k tons from France, 100k tons from Norway, 60k tons from Sweden, 31k tons from Spain among others.

The rationale: Morocco's capacity to recycle local waste is limited to only 10% of its production, making the import of additional waste particularly problematic, according to the environmental group. They argued that burning rubber tires for energy, as justified by the ministry, is not environmentally friendly and contributes to air pollution and greenhouse gas emissions.

The debate has been ongoing: Morocco’s long history of importing foreign waste has been a catalyst for environmental activists to challenge this unsound policy, the Oxygen for Environment and Health Association researcher and head Ayyoub Krir told the local media outlet. He questioned the logic of importing waste when Morocco itself generates significant amounts of garbage.

DANGER ZONE-

El Tiempo criticizes Morocco’s artificial cloud seeding plans: Spanish weather agency El Tiempo has issued a report criticizing Morocco’s artificial cloud seeding plans, citing unpredictable weather consequences for the entire region, including Spain, Morocco World News reported on Sunday. Morocco is earmarking around EUR 10 mn for the plans which includes developing 20 cloud seeding projects to increase rainfall in water scarce areas by up to 15%.

Why is Spain worried? Morocco’s cloud seeding plans could affect the entire region, particularly areas in southern Spain such as Ceuta and Melilla, El Tiempo warned. It said that unprecedented heavy rainfall in drier areas can also lead to flooding and runoff that would cause damage to the soil. El Tiempo also emphasized the track record of unpredictability with climate geoengineering, arguing that cloud seeding could even lead to unforeseen droughts in some areas and heavy rainfall in others due to shifts in humidity levels.

REFRESHER- Cloud seeding is infusing clouds with substances that help water molecules stick together (like silver iodide) either by spraying it from a plane or shooting it up from the ground. The process can increase precipitation by 15% in turbid atmospheres.

Not new in Morocco: The North African country has been working with the US Agency for International Development (USAID) since the early 1980s to increase precipitation under its Al Ghaith cloud seeding programme, according to a report (pdf). The program explored increasing water sources using “scientifically based weather modification programs.”

REMEMBER- Water scarcity has been an ongoing problem in Morocco: Morocco has experienced five years of drought, with water inflows down from 2.5k cbm per capita annually in 1960 to 620 cbm in 2020 to place it in a situation of structural water stress. Last year the country approached the absolute water scarcity threshold of 500 cbm per capita per year.

HAPPENING THIS WEEK-

UK-Egypt trade and investment in the spotlight: Our friends at HSBC, together with the Egyptian-British Chamber of Commerce (EBCC) and UK Export Finance (UKEF), will host a webinar this week to discuss how to support infrastructure reforms, potential partnerships in Egypt, and ways to support and connect companies around the world. The webinar takes place next Thursday (29 August) from 12-1pm CLT / 1-2pm UAE.

Want to attend? You can sign up here.

The webinar is a scene-setter for the Egypt-UK Investment and Opportunities Forum in London on Monday, 16 September.

Infrastructure is a key part of the forum. The gathering — which follows on from a June infrastructure mission — will focus on promoting trade and investment in infrastructure, with an emphasis on green hydrogen and renewables as well as sectors including the auto industry, food processing, and tech.

Networking: The forum will include both open panels and pre-arranged business-to-business networking. It will also give attendees the chance to meet with government officials and industry leaders. GAFI will be on hand to deliver an economic update.

Want to join them in London? Register your interest in attending the event here.

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CIRCLE YOUR CALENDAR-

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

The UAE will host the World Utilities Congress from Monday, 16 September to Wednesday, 18 September in Abu Dhabi. The event will gather global energy leaders, policymakers, and other industry professionals from the power and water utilities value chain to discuss industry trends and challenges.

Saudi Arabia will host the EV Auto Show from Tuesday, 17 September to Thursday, 19 September in Riyadh. The show offers a platform for participants to learn about the latest EV technologies and services.

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

Phase two of Jordan-Iraq electrical interconnection set for completion in 1Q 2025

The second phase of the Jordan-Iraq electrical interconnection will be completed in 1Q 2025, the Jordanian Energy and Mineral Resources Ministry’s 2023 annual report (pdf) showed. This phase aims to supply electricity to Iraq’s border town of Al Qa’im, delivering between 150 and 200 MW at 400 kV when completed.

What we know: The second phase sees the construction of a 330 kV transmission line and completing the 132/400 kV Al Qa’im substation in Iraq and the 33/132/400 kV Al Risha substation in Jordan. The ongoing civil and engineering work includes the supply of essential materials, circuit breakers, transformers, and related equipment.

This has been in the works: Jordan and Iraq signed earlier this year an agreement to link their electricity grids which will enable Iraq to receive 150 MW of power when the project is fully operational. The project sees two phases with Iraq receiving 40 MW of power in the first phase and eventually the full 150 MW when both phases are launched

REMEMBER- Iraq has big interconnection plans: The GCC-Iraq transmission grid, which will be used to export electricity to Iraq, is set to be completed this year. The power link will include electricity generated by renewable energy and would help reduce reliance on fossil fuels and facilitate clean power exports to other countries in the region.

UAE’s Volt inks USD 210 mn contract for 3k e-trucks

Volt + Mullen partner on electric trucks: UAE-based commercial leasing company Volt Mobility signed a USD 210 mn contract with US-based EV manufacturer Mullen Automotive to purchase 3k electric cargo trucks and vans over a timeframe of 16 months, according to a press release. Under the purchase agreement, Volt will make a USD 3 mn deposit within 60 days for Mullen’s Class One and Class Three models with further payments made upon the delivery of the vehicles. The first batch of vehicles by Mullen are set to be delivered immediately, the statement said, without providing further details.

The details: Volt aims to lease these vehicles to corporate customers in the Middle East and the GCC region, including its clients UPS, DHL, and FedEx, according to the statement. Mullen's Mississippi facility — which can produce 20k Class 1 and 6k Class 3 vehicles annually — will assemble Volt's order to the region, it added.

About Volt: Founded in 2020, Volt is one of the region’s leading commercial EV leasing companies. It focuses on light, medium, and heavy-duty electric vehicles with a portfolio of 17 models, according to a SEC filing. The company leases vehicles to corporate clients, offering first to last-mile delivery for fast-moving goods and heavy-duty trucks for regional shuttling services.

Coffee With: Omar El Nemr, MEA Project Management and Structuring Lead at VNV Advisory

Coffee with: Omar El Nemr, MEA Lead for Singapore-based Value Network Ventures (VNV): El Nemr (LinkedIn) is the Project Management and Structuring Lead for MENA at Value Network Ventures (VNV) Advisory Services, an international carbon project developer with over 100 projects under development in 17 countries. VNV currently issues around 1.5-2 mn credits a year and has its sights set on developing projects in Egypt.

Before joining VNV, El Nemr led project development at Libra Carbon — a local carbon developer formed through a partnership between Libra Capital, the EGX Holding Company, and the Agricultural Bank of Egypt. He also serves as carbon and renewable energy expert at the Financial Regulatory Authority of Egypt.

VNV was among those involved in this month’s launch of Egypt’s voluntary carbon trading market. The market allows companies to issue and trade voluntary carbon certificates in Egypt and Africa, which can be bought by other companies wanting to offset their emissions. Egyptian agriculture firm Daltex purchased 1.5k carbon credits from an agroforestry project in India’s Punjab through VNV Advisory. The project aims to promote sustainable farming practices in rural India while utilizing income from carbon credits to improve the livelihoods of small farmers.

We sat down with El Nemr to discuss the origins of VNV, the obstacles facing carbon projects worldwide, the future of carbon markets regionally, and more.

Edited excerpts of our conversation follow:

Enterprise: Tell us a bit about VNV, what obstacles is the company trying to address in the climate industry?

Omar El Nemr: VNV typically works with communities and governments more than we do with companies. Our work isn’t about giving additional revenue to a company that's already generating mns of USD, it’s about mobilizing climate finance for developing, smallholder farmers, and coastal marginal communities. We are very much on the ground, working closely with the groups as primary project developers, rather than traders. I think ultimately what VNV is trying to do is promote an equal and just transition, but we can’t achieve that by only interacting with large corporations.

We need marginal communities to transition into more sustainable practices as well but you can't just offer an ultimatum, and that’s where we step in.

E: How do you go about making that connection?

ON: A needs assessment is the foundation of it all. For example, Madagascar has one of the largest mangrove populations in East Africa, but they are suffering from deforestation because the local communities don't have wood. So, we do a feasibility assessment to identify the underlying problem and determine that a mangrove project coupled with a cook stove project would be useful to help cut wood consumption and replant the mangroves. After the needs assessment we find an NGO or a local community that is willing to participate and that also understands the problem and we continue the process for the full cycle until the credits are sold.

E: What are the challenges for developing these sorts of projects in our region?

ON: We're happy to develop Middle Eastern projects, but they are typically more expensive so we're still trying to find a space so we can operate there. Financing is typically where we stop because developing projects is easy, but it’s harder to attract investment. You can’t try to match oil and gas investments because a lot of our project funding goes into community development which doesn’t generate revenues, and investors really need to understand that.

Raising awareness is something that I struggle with, because I wonder what incentives people have besides profit. I’d say you will need to bottom up pressure on suppliers and once that kind of pressure kicks in Egypt with education and awareness campaigns, consumers will start to realize the significance of the cause.

From an investment side, project developers have to showcase that carbon credits are an attractive investment opportunity. I’d also like to see investors visit these projects because they’re removed from it all, making it hard to grasp what a project is about. In Egypt for example, a project has to be open to the public for 30 days before it's officially listed. I think you only really come to see the power of carbon markets when you see a remote town in the middle of Tanzania with 800k tree saplings just laid out on the ground for yourself. Who would be willing to pay for this if it were not for carbon markets?

E:How did VNV mark its entry to Egypt?

ON:When I first started working with VNV, Egypt wasn’t exactly on the company’s radar and my main focus was Tanzania. VNV already had a strong presence in Southeast Asia, so they started developing projects in Africa and the Middle East – primarily in Oman, Tanzania and Madagascar – and they were looking for someone regionally positioned to be able to address both markets. I was tasked with heading lead project management and structuring VNV advisory services for MEA projects. We have three projects in Egypt that I’m not at liberty to discuss just yet.

E:How did VNV get involved with the launch of Egypt’s voluntary carbon market?

ON: The premise of the market was to establish an international platform, so we reached out to the Financial Regulatory Authority and the EGX to discuss the possibility of listing our projects. We listed two projects at the beginning of the year – Nepal cookstoves and Bangladesh cookstoves – to present to Egyptian buyers, and then we listed Punjab agroforestry more recently. We're going to continue to list our projects because we're happy with the visibility that it brings — people need to know what is happening both in Egypt and regionally. That’s how you get calls from multinationals and investors looking to engage in this market.

E: Where do you see regional carbon markets heading over the next few years?

ON: There are separate efforts happening at the same time, but they're aligned. We have Saudi Arabia’s RVCMC, Egypt's Africa-wide regional voluntary carbon market, and Qatar launching its own accreditation standard — The Global Carbon Council. I think we will start to see a consolidation of these efforts to find a way for all of them to align with our common goal to bring down global emissions to 1.5 degrees Celsius.

Egypt is definitely heading in the right direction because it started with the regulations before there were a lot of projects. Usually, you’ll see developers leading projects in countries before regulations are set and then once they are, the projects are affected and it gives investors cold feet. Egypt is one step ahead because it set out the regulations and the laws pertaining to validation verification bodies, project registration, accounting, and treatment of carbon credits.

These characteristics give comfort to both us and our investors in Egypt as opposed to operating in a country where it's ambiguous and you don't know if the government will, for example, impose a moratorium tomorrow and stop the sale of carbon credits.

E:Where is VNV currently looking to expand?

ON: We’ve already done the most we can do in Southeast Asia, so we are looking at expanding into primarily African countries that have a robust framework for carbon project development, like Egypt, and are open to having that dialogue. A good example is Ghana which has established a very strong framework and attracted interest from Switzerland, Sweden, South Korea, and Singapore — whose delegation we were a part of. Now we’re looking at the Silk Road which includes Uzbekistan, Azerbaijan, and Kazakhstan.

E: Carbon offsets have faced a lot of controversy recently, especially in regards to the possible inclusion of Scope 3 emissions. How do you see that dust settling?

ON: I'm not a climate scientist nor a climate expert, but rather an observer. A lot of companies are really doing what they can. The type of credits you use is totally up to scrutiny, but if you're a European airline and your mitigation costs are really high, you can do more with the EUR in Africa and move back over once all that mitigation is done.

People say carbon markets lack integrity and transparency, but I can’t think of another market where every single project is listed online publicly on a registry and I can download every single report and number. Carbon projects are not just about climate change mitigation, they are actually sound investment opportunities that can be de-risked to a large extent. Beyond that, you have bodies like the integrity council for the voluntary carbon market and the voluntary carbon markets initiative that are putting in place frameworks to further ensure transparency and integrity.

Acwa Power’s Nomac to provide Uzbekistan with renewables measurement system

RENEWABLES-

Acwa Power’s Nomac to help measure renewable energy in Uzbekistan: Acwa Power's wholly-owned subsidiary Nomac has signed an MoU with the Uzbek Agency for Standards and Metrology to help develop renewable energy measurement systems in the Central Asian country, according to a statement. Under the agreement, Nomac will equip the National Institute of Metrology in Uzbekistan with advanced measurement tools for renewable energy plants including wind and solar power in Karakalpakstan. The investment for the project is estimated at USD 1.7 mn, according to the statement.

Acwa ? Uzbekistan: The Saudi renewable energy giant broke ground last week on the Beruniy wind plant in Karakalpakstan. The USD 260 mn project includes a 200 MW wind power plant and a 100 MW battery storage system. It also signed in May a USD 4.9 bn power purchase agreement to develop a new 5 GW wind farm in Uzbekistan. It also signed a USD 262.7 mn power purchase agreement in April for the development of the 200 MW Nukus 2 wind farm along with an accompanying battery energy storage system (BESS) facility.

GREEN HYDROGEN-

Kaust + Neom partner on green hydrogen research: King Abdullah University of Science and Technology (Kaust) has partnered with Neom to develop three sustainable hydrogen and fuel production research projects, according to SPA. The projects are exploring carbon neutral fuel development for marine engines, reducing the cost of large-scale clean hydrogen production through electrolysis, and cutting down on emissions from the use of ammonia as fuel.

Not the pair’s first collaboration on sustainability: Our friends at Hassan Allam Construction Saudi recently signed an agreement with KAUST to build the primary coral nursery of the world’s largest coral reef restoration project in Neom. The project — dubbed the Kaust Coral Restoration Initiative — is designed to counter the negative impact of climate change and rising sea water temperatures on coral reefs. It covers Neom’s Haddah beach.

ALSO- KAUST also signed an agreement with the Saudi Red Sea Authority to explore biodiversity protection initiatives and assess the impact of coastal tourism on the Red Sea, SPA reported.

DECARBONIZATION-

OQ Gas Networks to explore decarbonization initiatives: OQ Gas Networks (OQGN) — the pipeline subsidiary of Oman’s state oil giant OQ — has unveiled a decarbonization pathway aimed at significantly reducing greenhouse gas emissions, Oman Observer reports. OQGN plans to explore various clean energy and electrification initiatives, including biomethane transmission, carbon capture, and solar energy integration over the next seven years. The company aims to achieve a 42% reduction in emissions by 2030 before they rise to 82% by 2040 under an ultimate goal of reaching net zero by 2050.

OQGN is not stopping there: It is one of the main stakeholders in the green hydrogen infrastructure company that Hydrogen Oman (Hydrom) is establishing with Oman Electricity & Transmission Company (OETC) and Nama Water Services.

GREEN MOBILITY-

Saudi’s Saptco to operate a number of electric buses in Tabuk: The Saudi Public Transport Company has signed a five year, SAR 84 mn contract with the Tabuk Municipality to operate the first phase of the city’s public bus transport network, it said in a disclosure to Tadawul. Some 25% of the fleet will be electric, SPA reported, citing statements by the Transport General Authority Chairman Rumaih bin Mohammed Al Rumaih. The TGA plans to implement similar plans to other cities and regions across the Kingdom, Al Rumaih said.

The details: The bus fleet will operate on four routes spanning 128 km to serve 106 stops, according to the TGA. The public bus network will operate for up to 18 hours a day, it said.

OTHER STORIES WORTH KNOWING ABOUT THIS MORNING-

Saudi’s KACARE launches solar energy certification programs: The King Abdullah City for Atomic and Renewable Energy (KACARE) has introduced two professional certificates to enhance expertise in solar photovoltaic (PV) energy with a focus on designing and installing small solar PV systems. KACARE has set up 12 training centers across Saudi Arabia to train up to 1.4k specialists through 284 courses. (SPA)
Egypt’s Public Enterprise Ministry + AOI partner on local manufacturing: Egypt’s Public Enterprise Ministry and the Arab Organisation for Industrialisation (AOI) have signed cooperation protocols to enhance local manufacturing. The cooperation protocols entail renewable energy systems, water purification plants, wastewater treatment solutions, and other products. (Statement)
Egyptian gov’t institution first to complete carbon footprint report: The Egyptian Organization for Standardization and Quality has become the first government service institution to complete its carbon footprint report. (Statement)
UAE’s Al Dahra sequesters 217k tons of carbon emissions in sustainability push: UAE-based agribusiness Al Dahra has sequestered 217.2k tons of CO2 by implementing regenerative agricultural practices in 2023. It said it is targeting a 30% reduction in carbon emissions and a 15% reduction in water usage by 2030. (Statement)
Oman completes pilot project using recycled rubber-modified asphalt: Oman’s Transport, Communications and Information Technology Ministry has implemented a pilot project using asphalt modified with rubber from recycled tyres in its Al Khabourah dual link project. The project aims to help contribute to reducing environmental pollution caused from tyre waste. (Times of Oman)

New Zealand to lift ban on offshore oil and gas exploration amid energy crisis

New Zealand to reverse offshore oil and gas exploration ban amid energy crisis: New Zealand is planning to reverse its 2018 ban on offshore oil and gas exploration and take urgent measures to facilitate the import of liquified natural gas (LNG) to address severe energy shortages, Reuters reports. The reversal laws, set to pass by the end of this year, will lift restrictions on exploration outside the energy-rich Taranaki region on the country’s North Island. "We are responding to a situation as I said New Zealand should never have seen in the first place," New Zealand’s Prime Minister Christopher Luxon said as he urged the country’s opposition to back the planned reversal. The decision comes after renewables failed to bridge the gap in natural gas production which plunged 27.8% in 1Q 2024, leading to a nationwide energy crunch, according to Energy Minister Simeon Brown.

YET- The government plans to streamline the approval process for planned renewable energy projects to help reduce consent processing period to within one year, Brown said. It plans to open a first feasibility permit round for offshore renewable energy schemes in 2025, he added.

Shanghai plans major offshore solar farms: Shanghai will seek bids for its first set of offshore solar panels with a total capacity of at least 1 GW, Bloomberg reported yesterday, citing a notice by the city government. These solar farms, which will be located near offshore wind turbines in areas like Jinshan and Fengxian, aim to maximize the use of existing transmission infrastructure in the two districts.

REMEMBER- China’s government greenlit Shanghai's plan last month to install 29 GW of offshore wind capacity to help the city cut emissions and meet Beijing's climate targets. The plan is expected to supply about 100 bn kWh of clean electricity annually — over half of Shanghai's yearly power consumption — upon its completion.

OTHER STORIES WORTH KNOWING ABOUT THIS MORNING-

Finland’s Wartsila to convert supply vessel into world’s first ammonia-powered PSV ship: Finnish marine and energy technology company Wartsila has signed a contract with Norwegian shipowner Eidesvik to make its offshore platform supply vessel run on ammonia fuel. The Viking Energy is set to be the world’s first platform supply vessel (PSV) to run on the green fuel with operations set for 1H 2026. Norwegian energy firm Equinor is chartering the vessel and financing the conversion, which will begin in early 2026. (Statement)
Norway's sovereign wealth fund to invest USD 1 bn in renewable energy fund: Norway's sovereign wealth fund has committed EUR 900 mn (c. USD 1 bn) to Copenhagen Infrastructure Partners' fifth flagship fund CI V. The fund focuses on offshore and onshore wind, solar farms, grid infrastructure, and energy storage. The investment will allow the world’s largest sovereign wealth fund to invest in renewable energy projects in the development stage in North America, Western Europe and developed countries in the Asia Pacific, according to the statement. (Statement)
Poland earmarks USD 1.2 bn for first nuclear plant: Poland is allocating PLN 4.6 bn (c. USD 1.2 bn) to start work on its first nuclear power plant, Finance Minister Andrzej Domanski says. Poland previously said it would need to secure PLN 60 bn between 2025 and 2030 for the Baltic Sea project which is expected to be launched in about ten years. It plans to secure further financing from the US for the project which is set to use US technology. (Bloomberg)

Researchers tackle AI energy efficiency by proposing a new rating system

Rate your bot: A new initiative to rate AI models based on their energy efficiency is being introduced by researchers amid rising concerns over the environmental impact of energy guzzling tech, according to a study published in the scientific journal Nature last week. Inspired by the US Environmental Protection Agency’s Energy Star program, the AI Energy Star rating aims to reduce AI's carbon footprint and has already begun benchmarking a variety of AI models, starting with a focus on open-source models available on platforms like Hugging Face.

REMEMBER- Data centers are energy guzzlers: Electricity consumption for data centers — facilities composed of networked computers, computing infrastructure, and storage systems — is expected to double by 2026, data by the International Energy Agency showed earlier this year. The growing demand for electricity is also evident in global tech giants’ emissions, with Google’s emissions surging nearly 50% in five years due to AI energy demand. US tech company Microsoft also reported a 30% increase in carbon emissions since 2020 driven by its AI investments.

How the rating system works: The proposed AI Energy Star rating would assess AI models based on their energy consumption, providing a transparent measure for both developers and users, according to the researchers. The goal is to encourage the adoption of more energy-efficient AI models, thereby reducing the overall carbon footprint of the technology. This system would allow users to make informed decisions when selecting AI models in a way that is similar to how consumers choose energy-efficient appliances.

Elsewhere, green data centers are popping up: Digital DEWA subsidiary Moro Hub, a global digital hub focused on cyber security, and US-based computer tech company NVIDIA announced a collaboration in February to establish a green AI data center in the UAE. Egypt signed an MoU with Incom, SIC Investment, and Record Digital Asset Ventures in January to build a green data center powered by 200 MW of renewables. The project — which will be made up of both solar and wind plants — will be implemented in two 100 MW phases.

And key players are investing in them: Abu Dhabi sovereign wealth fund Mubadala is investing in global hyperscale data center developer Yondr Group. It is backing Yondr as global demand for cloud services surges on the back of advancements in artificial intelligence, 5G technology and the internet of things. US tech giant Microsoft and UAE AI outfit G42 are also partnering to build a USD 1 bn geothermal-powered data center in Kenya. The plan is part of a comprehensive suite of digital investments in Kenya to accelerate digitalization and promote cloud computing and AI services in East Africa.

The MENA data center market is poised for further growth: The MENA region is poised to develop into one of the fastest growing markets for data centers in the coming years, with ballooning demand and so-far limited supply, according to a recent JLL report. The region's growing digital transformation, including 5G and IoT, along with increased investment in submarine cables and fiber connectivity, is driving a surge in data demand. There are currently 73 colocation facilities across the UAE, KSA, Qatar, Oman, and Kuwait, according to the report.

CALENDAR

AUGUST 2024

24-26 August (Saturday-Monday): International Conference on Clean and Green Energy Engineering, Izmir, Turkey.

24-26 August (Saturday-Monday): International Summit on Non-Renewable and Renewable Energy, Valencia, Spain.

SEPTEMBER 2024

16-18 September (Monday-Wednesday): World Utilities Congress, Abu Dhabi, UAE.

17-19 September (Tuesday-Thursday): EV Auto Show, Riyadh, Saudi Arabia.

23-25 September (Monday-Wednesday): Powerlec Bahrain 2024, Manama, Bahrain.

24- 25 September (Tuesday - Wednesday): Mediterranean Carbon Reduction Forum, Tunisia.

25-26 September (Wednesday-Thursday): Green Steel Summit, Dubai, UAE.

OCTOBER 2024

1-3 October (Tuesday-Thursday): Water, Energy and Environment Technology Exhibition, Dubai, UAE.

1-3 October (Tuesday-Thursday): Cairo Sustainable Energy Week, Cairo, Egypt.

2-3 October (Wednesday-Thursday): World Green Economy Summit, Dubai, UAE.

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 2024, Cairo, Egypt.

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

15-17 October (Tuesday-Thursday): EV Auto Show, Riyadh, Saudi Arabia.

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

NOVEMBER 2024

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.

JANUARY 2025

12-15 January (Sunday-Wednesday): World Renewable Energy Congress, Manama, Bahrain.

14-16 January (Tuesday-Thursday): World Energy Summit, Abu Dhabi, UAE.

28-29 January (Tuesday-Wednesday): Sustainability Forum Middle East, Riyadh, Saudi Arabia.

FEBRUARY 2025

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.

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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