The Egypt-EU Investment Summit brings in a pile of green hydrogen agreements

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WHAT WE’RE TRACKING TODAY

TODAY: It’s a busy green hydrogen and M&A day

Good morning, friends, and welcome to the busiest news day we’ve had in a while. We have a deluge of updates from the Egypt-EU Investment Summit and a lot of M&A ground to cover from Saudi and Kuwait. Let’s dive right in.

THE BIG CLIMATE STORY OUTSIDE THE REGION- BP halts offshore wind projects in response to investor pressure: Oil giant BP has paused development on new offshore wind projects on the back of increased pressure by investors criticizing the company’s energy transition strategy. CEO Murray Auchincloss expressed his intention to slow down large low carbon investments that are “not expected to be profitable for years,” sources added. The firm also imposed a company-wide hiring freeze, with only a few exceptions including frontline and safety personnel.

Not BP’s first U-turn: Teams previously working on identifying new renewables opportunities have been reassigned to older projects and some job cuts are to be expected. BP’s EV charging business BP Pulse has already laid off over 10% of its workforce and pulled out of several markets.

The story grabbed headlines in Europe: Reuters | The Guardian |The Sunday Times | The Telegraph

WATCH THIS SPACE-

#1- Infinity reveals groundbreaking date for Sohag wind farm + eyes Cameroon entry: Construction will begin on Infinity Power, Hassan Allam Utilities, and Masdar’s 10 GW wind project in March 2026, chairman of Infinity Power Mohamed Ismail Mansour told Bloomberg in an interview last Thursday. Construction was initially set for this year but fell behind due to land procurement issues in West Sohag. The project will begin electricity generation in 2032, he added.

REMEMBER- The consortium is working on surveys and studies right now. The consortium inked a land access agreement with the Egyptian government in May for over 3k sq km of land in West Sohag that will allow the group to conduct surveys and studies needed before construction begins. The companies had signed the land allocation agreement in June 2023, eight months after the companies signed an MoU on the sidelines of COP27.

Infinity is also planning expansion in Cameroon: Infinity Power wants to reach 10 GW capacity from its current 1.3 GW by 2030, and is planning to gather USD 2 bn in debt and equity to develop 4 GW of small scale projects in West Cameroon, Mansour said in the interview. The projects could include solar, wind, battery storage, and biomass facilities on a smaller scale to avoid overcrowding the grid.

South Africa is also getting a piece of the action: The company wants to expand further in South Africa after closing its acquisition of Africa-focused wind power platform Lekela Power last year, Mansour added. The transaction gave Lekela an enterprise value of USD 1.5 bn. However, Infinity has experienced obstacles with its five existing wind projects in the country and will study over 10 projects across regions to mitigate other possible risks.

#2- Canada’s NextSource Materials is looking at Saudi as the potential home for a new USD 280 mn battery anode plant, it said in a filing to the Toronto Stock Exchange. The facility could produce up to 20k tonnes of graphite anode active material for lithium-ion batteries per year, according to the filing. NextSource already runs a similar plant in Madagascar that supplies Toyota and Tesla.

Where? While it has yet to make a decision to build here, the company named Yanbu Industrial City as its preferred Saudi location, citing its “extensive infrastructure, access to raw materials, commercial zones and shipping routes.” NextSource is now designing the Saudi facility.

There’s more: The company wants to build battery anode plants in more than one country. In addition to Saudi Arabia, it is also looking at Madagascar, the United Arab Emirates, and North America.

#3- The EU may miss its critical minerals recycling goal: The EU’s recently introduced target to have at least 25% of annual demand of critical rare minerals supplied from recycled materials by 2030 — up from the current 1% — is unlikely to be met, according to analysis by Reuters. “Today you have magnets that are leaving Europe every day because there is no possibility to recycle them here,” founder of French rare earth mining start-up Carester Frédéric Carencotte told the newswire. By 2030, the EU will have about 1.1 bn end-of-life devices containing magnets, each of which only contain about 30 grams of magnets on average, consultant at Adamas Intelligence Ryan Castilloux said, implying that it will take time for there to be enough old EVs and wind turbines for the critical minerals recycling to grow.

But there are some firms leading the way: Carester has been collecting old magnets to have supply prepared for its factory launch scheduled in 2026. The firm plans to process 2k tons a year of old permanent magnets and produce rare earth oxides. Germany's privately-held Heraeus Remloy launched a plant last month to recycle old electronic devices into a magnetic alloy powder that can be used to produce permanent magnets. Carester aims to meet 6% of the EU’s demand for critical minerals, while Heraeus Remloy will meet 1%.

REMEMBER- EU members approved the Critical Raw Materials Act (CRMA) in March. The new regulation — aimed at decreasing reliance on imports of essential energy transition minerals including lithium and nickel — mainly targets Chinese imports that account for 95% of the global supply and sets a target to have the EU domestically produce at least 10% and process at least 40% of strategic materials needed annually by 2030. At least 25% of annual demand will come from recycled materials, and no more than 65% of the annual consumption of each critical mineral will come from abroad. The law is yet to be approved by the bloc’s parliament and council.

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CIRCLE YOUR CALENDAR-

Turkey will host the Nuclear Power Plants Summit & Expo from Tuesday, 2 July to Wednesday, 3 July in Istanbul. The event will gather utility companies, independent power producers, government officials, and industry leaders to explore nuclear power projects, plans, products and tech solutions.

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

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

The Egypt-EU Investment Summit brings in a pile of green hydrogen agreements

A flurry of fresh green hydrogen agreements for Egypt: European firms inked a spate of agreements with Egyptian counterparts during the two-day Egypt-EU Investment Conference that wrapped yesterday. Renewable energy and green hydrogen took center stage, unsurprisingly as the country’s ambitions to transform into a regional hub for green hydrogen production by 2026 and a global hub by 2030 are a focal point of President Abdel Fattah El Sisi’s third term. The country aims to produce 3.2 mn tons of green hydrogen per year by 2029 and 9.2 mn tons per year by 2040.

First, does Egypt have a fresh renewables target? Renewable energy will make up 58% of Egypt’s total energy mix by 2040, up from its current target of 42% by 2030, Reuters reports, citing comments made by Electricity Minister Mohamed Shaker at the Egypt-EU conference.

A GREEN HYDROGEN BONANZA-

#1- More from Infinity-Masdar-Hassan Allam: Our friends at renewables firm Infinity, Hassan Allam, UAE’s Masdar, and global energy giant BP will set up a USD 14 bn green hydrogen project in the Suez Canal Economic Zone, according to a statement. The project is currently in the feasibility studies phase and will be fully operational in ten years time, Infinity Chairman Mohamed Mansour told Enterprise.

#2- Deme heads to the Port of Gargoub: An international consortium led by Belgian energy firm Deme Group will set up a green hydrogen and green ammonia plant in the Port of Gargoub’s industrial zone after the firm inked an agreement with the New and Renewable Energy Authority (NREA) and the Alexandria Port Authority, according to separate statements here and here (pdf). The project will be carried out in three phases at a total cost of EUR 24 bn — the first phase will see the company pour investments of EUR 3 bn to produce 320k tons of green ammonia a year. “The wind and solar renewable power generation infrastructure will be located 70 km southwest of Gargoub and it will be connected to the production facility via a dedicated high-voltage power line,” the statement notes

#3- A USD 10 bn green ammonia project in East Port Said: The Sovereign Fund of Egypt (SFE and DAI Infrastructure signed a USD 10 bn agreement to set up a green ammonia project at East Port Said, DAI Infrastructure Vice Chairman Mourad Sami told Enterprise. Dubbed Ra, the project will include a USD 4.4 bn ammonia facility and a USD 5 bn renewable energy facility to power the ammonia plant, Sami added. Once fully operational, the East Port Said facility will have a production capacity of 2 mn tons per year and is expected to bring in USD 2 bn each year, Sami told us, adding that DAI will break ground on the project in Q1 2026.

Who else is on the project? Several European groups and financial institutions, including Greek shipping firm Naftomar — which will provide shipping services and take off some of the project’s production — are co-investors with DAI on the project, according to Sami. Sami confirmed to Enterprise that most of the funds will be secured from the US and Europe, with Allianz credit ins. subsidiary Euler Hermes providing export credit agency coverage.

#4- A EUR 7 bn plant by EDF + Zero Waste: France's EDF Renewables and Egyptian-Emirati firm Zero Waste will set up a EUR 7 bn three-phase green hydrogen and ammonia project near Hurghada at Ras Shoukair Port, according to a statement. The EUR 2 bn first phase of the project aims to produce 1 mn tons of green ammonia annually with the production earmarked to supply ships with green fuels and for exports. The project will also include the financing and development of a new 400 meter shipping dock and a seawater desalination unit to feed all stages of the project.

#5- A lot more green ammonia for Ain Sokhna: Abu Dhabi-headquartered Ocior Energy has inked a USD 4.3 bn agreement with the SFE to develop a green ammonia plant at the Port of Ain Sokhna, according to a statement. The plant will primarily cater to European markets, addressing the growing demand for sustainable ammonia.

And another USD 3.5 bn Taga Arabia-Voltalia project: A consortium of Taqa Arabia and France’s Voltalia will build a USD 3.5 bn green ammonia project at Ain Sokhna, under another agreement inked with SFE.

#6- Green ammonia production in Damietta: The Egyptian Petrochemical Holding Company and Misr Fertilizer Production Company (Mopco) are partnering with Norwegian firms Scatec and Yara International to set up a green ammonia plant in Damietta with initial investments of some USD 890 mn, according to a statement. The parties will produce around 150k tons of green ammonia annually in Mopco’s factories before selling it to Norway’s Yara. A seawater desalination plant and a maritime terminal will be set up to export the green ammonia with operations expected to begin in 2027.

WIND ALSO GOT A MENTION-

Danish wind turbine manufacturing giant Vestas wants to set up a USD 600 mn production facility in Egypt to manufacture wind turbines, according to a statement. The green energy company will soon start preparing a feasibility study for the project and begin drumming up financing.

Vestas is no stranger to Egypt’s renewables sector: The Danish company spearheaded a consortium that signed a EGP 4.3 bn agreement with the NREA back in 2020 to construct a 250 MW wind farm in the Gulf of Suez, which began a trial operation last November.

ON THE FINANCING FRONT-

#1- The European Investment Bank (EIB) and the EU have inked a EUR 271 mn agreement with the government to back the transition to a green economy, according to a statement. The agreement will channel EUR 135 mn in soft financing from the EIB, with an additional EUR 30 mn grant from the EU administered by the EIB. The remaining funds will come from the French Development Agency and other financiers, the statement reads.

The how: The project aims to assist Egypt in transitioning to a green economy by reducing industrial pollution and carbon emissions. It will focus on key industrial zones across the country, addressing air, water, and soil pollution. It will also support the use of renewable energy, green hydrogen, and biogas, and enhance sustainable industrial practices through energy efficiency, resource management, and circular economy interventions.

#2- CIB secures EBRD funding: The European Bank for Reconstruction and Development (EBRD) will provide CIB with USD 60 mn for on-lending to local women-led businesses and green investments, the lender said on its website.

The breakdown: Some USD 50 mn will fund investments in climate change mitigation and adaptation, namely businesses operating in “agribusiness, manufacturing and services, logistics and distribution, and information and communications technology.” The rest of the funding will target women-led businesses, with a focus on those with less than 250 employees and deriving annual revenues of less than EUR 50 mn.

#3- Egypt will also get a green hydrogen hub: Nile University and Green Hydrogen Organisation signed an agreement to establish a global green hydrogen hub. The hub aims to boost investment in green hydrogen and renewable energy projects.

Masdar eyes Spanish renewables firm acquisition

Masdar is eyeing a stake in Spain’s Saeta Yield: UAE’s renewables giant Masdar is reportedly set to submit a final bid to acquire Brookfield’s Spanish renewables firm Saeta Yield next week, Spanish news outlet Cinco Dias reported on Friday. China Three Gorges, Engie and TotalEnergies are amongst the companies expected to compete with Masdar over the purchase. The company is currently valued at around EUR 1.7 bn.

The details: Saeta Yield — which Brookfield acquired from ACS for EUR 1 bn in 2018 — boasts a portfolio of 28 wind farms, 10 photovoltaic parks, and seven solar thermal plants across Spain and Portugal with a total capacity of 1.2 GW. The acquisition will include Brookfield’s renewables portfolio excluding the solar thermal plants. Brookfield — which started the sale process last December — hired Société Générale Group and Santander Bank.

The Chinese firm might be out of the running: While China Three Gorges has positioned itself as one of the leading contenders during the process, its intention to acquire only the assets in Spain has made its bid less attractive, the news outlet writes. The Chinese firm is looking to have the US-based asset management firm specialized in renewables energy Exus as an ally to keep the Portuguese projects.

Brookfield has bigger plans: Brookfield is aiming to raise USD 5 bn for the UAE-backed Catalytic Transition Fund (CTF) — which is anchored by a USD 1 bn commitment from Alterra fund set up by the UAE during COP28 — to boost climate finance in emerging markets as part of its first close before the end of the year. The firm is also among global asset managers earmarking bns of USD toward financing ventures in the energy efficiency sector.

Masdar is boosting its EU portfolio: Masdar reached a final agreement to purchase an initial 67% stake in Greece’s EUR 3.2 bn Terna Energy, with plans to present an all-cash, mandatory offer to buy the remaining stakes once the transaction is completed last week. The renewables giant reached financial close on EUR 488 mn in funding to secure its 49% acquisition of the 476 MW Baltic Eagle wind farm off the coast of Germany last week. Masdar is also eyeing an undisclosed stake in Turkish wind producer Fiba Yenilenebilir Enerji.

UAE’s Alcazar is building a 400 MW wind farm in North Macedonia

UAE’s Alcazar Energy will invest USD 500 mn to build a 400 MW wind farm in North Macedonia, according to a statement published last week. The project — which is set to be North Macedonia’s largest wind plant — is expected to bring the firm’s investments in the Western Balkans region to some USD 1 bn. The project is expected to achieve financial close by 4Q 2025 with construction set for early 2026.

The details: The Shtip project will be located 75 km south of the Macedonian capital of Skopje and will increase the country’s wind energy generation more than fivefold, offsetting some 670k tons and generating enough energy for more than 100k homes annually.

REMEMBER- Alcazar Energy recently closed its second renewables fund: Alcazar Energy Partners secured a USD 490 mn final close on the Alcazar Energy Partners II fund in May. 8 investors contributed to the round including the US International Development Finance Corporation and the European Bank for Reconstruction and Development. The fund aims to develop 1.6 GW of green energy projects, offset over 3 mn tonnes of emissions annually, and raise investments to USD 2 bn. The first close alone secured USD 336.6 mn in 2022.

Not Alcazar’s first fund: Alcazar Energy Partners I — the first fund by Alcazar — was launched in 2014 and raised a total of USD 240 mn to invest in equity for solar and wind energy projects, with up to USD 700 mn in foreign direct investment mobilized into seven solar and wind farms in Egypt and Jordan. The first fund’s portfolio was acquired in 2021 by Chinese energy firm China Three Gorges Corporation.

The firm has an eye on Egypt: Alcazar Energy was among seven companies looking to bid for a stake in Egypt’s 580 MW Gabal El Zeit and 545 MW Zafarana wind farms last year.

Aramco is close to accquiring 10% of hybrid engine manufacturer Horse Powertrain

Oil giant Aramco has signed definitive agreements to acquire a 10% stake in Horse Powertrain — a joint venture between French carmaker Renault and China’s automaker Geely, according to a joint statement (here and here).

What’s Horse Powertrain? Formally founded in May of this year, the London-based JV was set up to manufacture next-generation powertrain solutions, including internal combustion engines that use alternative fuels such as ethanol, methanol, and hydrogen, as well as full hybrids and long-range plug-in hybrids, according to its website. It currently operates 17 global plants, 5 R&D centers with nine industrial customers in 130 countries, according to the release. It expects to produce some 5 mn powertrain units annually.

What we know: The transaction assigns Horse an enterprise value of EUR 7.4 bn and would see Renault and Geely each retain a 45% stake. Aramco had initially sought a 20% stake in the powertrain technology venture under a preliminary agreement with Renault and Geely last year, according to an earlier statement.

The rationale: The investment would allow Aramco to expand its venture into global energy transition through the “development and commercialization of more efficient mobility solutions.” It will also see it working together with US-based oil refinery Valvoline to develop technologies, fuels, and lubricants that could improve the performance of Horse Powertarin’s internal combustion engines.

What they said: “Aramco’s investment is expected to directly contribute to the development and deployment of affordable, efficient, and lower-carbon emission internal combustion engines globally. With Geely and Renault, we plan to leverage our collective expertise and resources to support ground-breaking advances in both engine and fuel technologies,” Aramco Executive Vice President of Technology & Innovation Ahmad Khowaiter said.

Reinventing the engine? Renault Group CEO Luca de Meo described the acquisition as one that created a “dream team born to reinvent the future of ICE and hybrid technologies.”

PowerChina awarded 500 MW Wind project EPC contract in Saudi

PowerChina gets Saudi wind farm contract: Chinese state-owned PowerChina has secured the engineering, procurement, and construction (EPC) contract for a 500 MW Waad Al Shamal wind project in the Kingdom’s north, according to Trade Arabia. The EPC contract was awarded by a consortium led by leading conglomerate Ajlan & Bros and Japan’s Marubeni Corporation.

The PPAs were secured last month: Marubeni signed two power purchase agreements with the Saudi Power Procurement Company (SPPC) to buy green energy from Waad Al-Shamal and the 600 MW Al Ghat wind projects.

About Waad Al-Shamal wind project: The Waad Al-Shamal wind farm has a capacity of 500 MW and is planned to be located in the Northern Borders province — which is the Kingdom least populated province. Construction has not yet begun, but is expected to be completed in one phase, with commissioning set for 2026.

PowerChina’s not new to the region: The Iraqi Cabinet has approved the construction of a USD 520.2 mn 750 MW solar plant with PowerChina in June 2023. The UAE also made the company the main EPC contractor in October 2023 for its wind program developed by Masdar. The 103.5 MW landmark project spans four locations, including the Sir Bani Yas Island in Abu Dhabi, where a 45 MW capacity wind farm and a 14 megawatt peak (MWp) solar farm has been developed.

Kuwait’s KPI finalizes 50% acquisition of Italian biofuels firm Eco Fox

KuwaitPetroleum International (KPI) has completed the acquisition of a 50% stake in Italian biofuels firm Eco Fox, CNBC Arabia reported last week. No financial details were disclosed for the acquisition which was approved by the European Commission for Competition and the Italian Competition Authority.

Background: The acquisition will support KPI’s goals of developing, producing and distributing alternative fuels, KPI’s CEO Shafi Taleb Al-Ajmi told Kuwait News Agency in March. KPI supplies fuel to 70 international airports and manages 2.8k gas stations in Italy.

About Eco Fox: Eco Fox is an Italian renewable fuel producer and distributor which produces biodiesel made from vegetable oil, animal fat, and recovered used cooking oil. The company’s plant has a production capacity of 200k tons per year. Eco Fox also produces byproducts including glycerine, acid oils and potassium salts which can be used in agriculture.

Morocco’s climate resilience program gets a boost from the Opec Fund

The Opec Fund for International Development approved USD 605 mn in development financing, USD 100 mn of which will go to Morocco’s climate resilience program, according to a press release. The money is broadly being allocated for financing global food security, climate action, and essential infrastructure initiatives, with USD 3 mn earmarked for the development of the Opec Fund Food Security and Climate Adaptation Facility.

More about Morocco’s program: The USD 100 mn loan will be used to co-finance the first phase of the Economic Governance and Climate Change Resilience Support Program. The program aims to “increase competitiveness and strengthen resilience, including to climate change,” the statement said.

The fund has been active in the region: The Opec Fund and the Arab Coordination Group — an alliance of regional development funds — committed to channeling at least USD 24 bn in climate financing by the end of the decade at COP27. The Fund will also provide Acwa Power with a USD 14.6 mn — as part of a financing package from the European Bank for Reconstruction and Development, the African Development Bank, the Green Climate Fund, the Sustainable Energy Fund for Africa, and the Arab Bank — for its 200 MW Kom Ombo solar project in Egypt’s Aswan.

Morocco partners with Turkey and Germany on green energy

Morocco + Turkey partner on energy and mining: Morocco and Turkey have signed two cooperation agreements in the energy, earth sciences, and mining sectors, according to a statement published last week. The agreements aim to enhance collaboration in renewable energies, green hydrogen, energy efficiency, and clean technologies. The partnership also extends to geological mapping, remote sensing, and AI for mineral assessment, and aims to boost public-private partnerships, research and development, and technical assistance. The agreements were signed by Morocco's Energy Transition and Sustainable Development Minister Leila Benali and Turkey's Energy and Natural Resources Minister Alparslan Bayraktar.

IN OTHER MOROCCO NEWS- Germany + Morocco form green energy alliance: Germany and Morocco have agreed to form a climate and energy alliance to support hydrogen production, electricity trade, decarbonization, and climate resilience in the kingdom, Map reported. The alliance will also contribute to Germany’s net-zero by 2045 goal which will require the country to import 70% of hydrogen demand, including from Morocco, according to Reuters.

OTHER STORIES WORTH KNOWING ABOUT THIS MORNING-

Algeria + Poland to assemble energy task force: Algeria and Poland have agreed to set up a group tasked with defining the terms of an energy and renewables partnership in the making. The two sides also agreed to schedule the first meeting of the Algerian-Polish governmental committee for economic, commercial, scientific and technical cooperation under which a new draft agreements for environment and climate, and renewable energy will be developed. (Statement)

Tunisia launches interministerial ecological transition monitor

GREEN POLICY-

Tunisia launches interministerial ecological transition network: Tunisia has launched the Interministerial Network for Ecological Transition to monitor progress of the 2035-2050 National Strategy for Ecological Transition, Tap reports. The network aims to inform, raise awareness, and monitor the implementation of the strategy’s measures. The network will be made up of representatives from the Presidency, the Prime Ministry, and various ministries.

About the strategy: The pillars of the strategy include governance and financing, climate change, and sustainable resource management. The strategy focuses on mitigating desertification and building drought resilience, as well as encouraging sustainable consumption to reduce pollution, and developing a culture, science and knowledge of ecological transition.

IN OTHER TUNIS NEWS- BYD considers investing in Tunisia’s electric transport sector: Tunisia’s Minister of Industry, Mines, and Energy Fatma Chiboub Thabet and General Manager of BYD Middle East and Africa met to discuss cooperation in electric transport development, Tap reports. BYD expressed interest in investing in the sector and the renewables field in the country. Several international companies have expressed similar interest in the automotive industry, Tap wrote, citing a statement.

OTHER STORIES WORTH KNOWING ABOUT THIS MORNING-

Abu Qir Fertilizers invests in 2 energy projects: Abu Qir Fertilizers is set to invest USD 6.7 mn to establish a 2.5 MW solar plant and a project to replace natural gas with hydrogen. The projects will be financed by the company itself and will reduce its reliance on government energy sources by 10% to 20%. (Zawya)
Islamic banks launch GHG accounting tool: The General Council for Islamic Banks and Financial Institutions — in collaboration with the Islamic Development Bank — has launched a Greenhouse Gas Calculation Tool Guide in accordance with international standards. The tool comes under the Sustainability Document issued by the Islamic Finance Infrastructure Organizations and approved during COP28. (SPA)

CALENDAR

JULY 2024

2-3 July (Tuesday-Wednesday): Nuclear Power Plants Summit & Expo, Istanbul, Turkey.

16-17 July (Tuesday-Wednesday): The Egypt Mining Forum, Cairo, Egypt.

AUGUST 2024

1 August (Thursday): Distributed Solar Summit, Dubai, UAE.

12-16 August (Monday-Friday): Mastering Renewable & Alternative Energies, Dubai, UAE.

20-21 August (Tuesday-Wednesday): The World ESG Summit, Dubai, UAE.

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.

OCTOBER 2024

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

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

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

NOVEMBER 2024

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

4-8 November (Monday-Friday): AfricanEnergy Week, 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 (ADIPEC), Abu Dhabi, UAE.

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

26-28 November (Tuesday-Thursday): Saudi Electricity 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.

JANUARY 2025

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

24-26 February (Monday-Wednesday): Connecting Hydrogen MENA, Dubai, UAE.

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: 9th 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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The Egypt-EU Investment Summit brings in a pile of green hydrogen agreements

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TODAY: It’s a busy green hydrogen and M&A day

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The Egypt-EU Investment Summit brings in a pile of green hydrogen agreements

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Masdar eyes Spanish renewables firm acquisition

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UAE’s Alcazar is building a 400 MW wind farm in North Macedonia

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Aramco is close to accquiring 10% of hybrid engine manufacturer Horse Powertrain

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PowerChina awarded 500 MW Wind project EPC contract in Saudi

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Kuwait’s KPI finalizes 50% acquisition of Italian biofuels firm Eco Fox

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Morocco’s climate resilience program gets a boost from the Opec Fund

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Morocco partners with Turkey and Germany on green energy

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Tunisia launches interministerial ecological transition monitor

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