{"id":74243,"date":"2022-10-06T02:00:57","date_gmt":"2022-10-06T02:00:57","guid":{"rendered":"https:\/\/enterpriseam.com\/climate\/?post_type=issue&#038;p=74243"},"modified":"2025-12-15T07:58:13","modified_gmt":"2025-12-15T07:58:13","slug":"saudi-arabias-sovereign-wealth-fund-had-a-very-good-debut-green-bond-issuance","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/climate\/issues\/saudi-arabias-sovereign-wealth-fund-had-a-very-good-debut-green-bond-issuance\/","title":{"rendered":"Saudi Arabia\u2019s sovereign wealth fund had a very good debut green bond issuance."},"content":{"rendered":"<section id=\"74245\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"74245\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">1<\/div>\r\n\r\n                    <p class=\"f-graphik\">WHAT WE\u2019RE TRACKING TODAY<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/climate\/2022\/10\/06\/today-ksa-debut-green-bond-sale-was-a-success-uae-launches-its-ev-assembly-line-also-climate-focused-ins-makes-waves-take-our-evs-survey\/\">\r\n                            TODAY: KSA\u2019 debut green bond sale was a success + UAE launches its EV assembly line. ALSO- Climate-focused ins. makes waves + Take our EVs survey                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/climate\/2022\/10\/06\/today-ksa-debut-green-bond-sale-was-a-success-uae-launches-its-ev-assembly-line-also-climate-focused-ins-makes-waves-take-our-evs-survey\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/climate\/2022\/10\/06\/today-ksa-debut-green-bond-sale-was-a-success-uae-launches-its-ev-assembly-line-also-climate-focused-ins-makes-waves-take-our-evs-survey\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/climate\/2022\/10\/06\/today-ksa-debut-green-bond-sale-was-a-success-uae-launches-its-ev-assembly-line-also-climate-focused-ins-makes-waves-take-our-evs-survey\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=TODAY: KSA\u2019 debut green bond sale was a success + UAE launches its EV assembly line. ALSO- Climate-focused ins. makes waves + Take our EVs survey&url=https:\/\/enterpriseam.com\/climate\/2022\/10\/06\/today-ksa-debut-green-bond-sale-was-a-success-uae-launches-its-ev-assembly-line-also-climate-focused-ins-makes-waves-take-our-evs-survey\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/climate\/2022\/10\/06\/today-ksa-debut-green-bond-sale-was-a-success-uae-launches-its-ev-assembly-line-also-climate-focused-ins-makes-waves-take-our-evs-survey\/&title=TODAY: KSA\u2019 debut green bond sale was a success + UAE launches its EV assembly line. ALSO- Climate-focused ins. makes waves + Take our EVs survey\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=TODAY%3A+KSA%E2%80%99+debut+green+bond+sale+was+a+success+%2B+UAE+launches+its+EV+assembly+line.+ALSO-+Climate-focused+ins.+makes+waves+%2B+Take+our+EVs+survey+https%3A%2F%2Fenterpriseam.com%2Fclimate%2F2022%2F10%2F06%2Ftoday-ksa-debut-green-bond-sale-was-a-success-uae-launches-its-ev-assembly-line-also-climate-focused-ins-makes-waves-take-our-evs-survey%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/climate\/2022\/10\/06\/today-ksa-debut-green-bond-sale-was-a-success-uae-launches-its-ev-assembly-line-also-climate-focused-ins-makes-waves-take-our-evs-survey\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-74245\" class=\"content-area-description single-story post-74245 post type-post status-publish format-standard hentry category-what-were-tracking-today tag-bill-gates tag-enterpriseclimate tag-evs tag-food-supply-crisis tag-gcc tag-green-bonds tag-john-kerry tag-renewables tag-saudi-arabia tag-uae tag-what-were-tracking-today tag-world-bank wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Good morning, wonderful people. <\/strong>And to our readers in Egypt, who are celebrating Armed Forces Day, we hope you have a relaxing three-day weekend. Elsewhere, it\u2019s been a day of firsts.<\/p>\n<p><strong>THE BIG CLIMATE STORY- Saudi Arabia raised USD 3 bn in its inaugural green bond issue yesterday.<\/strong> The long-awaited three-tranche issue drew in orders of around USD 18 bn throughout the day.<\/p>\n<p><strong>It also saw the sale of the world\u2019s first 100-year green note<\/strong>. We breakdown the sale in this morning\u2019s Debt Watch, below.<\/p>\n<p><strong>ALSO-<\/strong> <strong>A big step for the regional EV industry: <\/strong>The UAE inaugurated its first EV assembly facility in Dubai yesterday, courtesy of M Glory Group. The AED 1.5 bn Al Damani Auto EV plant can currently assemble 10k cars annually with plans to raise production to 55k per annum in the next two years. We cover the story chapter and verse in the news well below.<\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-07\"><\/a> <strong>*** SPEAKING OF WHICH- <\/strong><strong><a href=\"https:\/\/www.surveymonkey.com\/r\/9VF6H6Y\">Take our EV survey<\/a><\/strong><strong>:<\/strong> Are you an ex-petrolhead shopping around for your first electric vehicle? EV-curious and wondering what all the fuss is about? Or are you not ready to say goodbye to that sweet smell of benzene as you wait at the gas station?<\/p>\n<p><strong>We want to hear from you:<\/strong> We\u2019re taking the pulse on how the region feels about MENA\u2019s EV transition. Take a few minutes to fill out <a href=\"https:\/\/www.surveymonkey.com\/r\/9VF6H6Y\">our short survey<\/a>. We\u2019ll be back with the results in a couple of weeks.<\/p>\n<hr class=\"grey-line\">\n<p><a class=\"content-anchor\" id=\"tldr-story-05\"><\/a><strong> WATCH THIS SPACE- MENA is focusing on the role of ins. in the fight against <\/strong><strong>climate change: <\/strong>The ins. industry must adapt to new climate risks and extend assistance to governments, officials from both the UAE and Egypt stated at two separate conferences this week. \u201cThe ins. sector plays a key role in our fight against climate change risks,\u201d the UAE\u2019s Minister of Climate Change and the Environment, Mariam Al Mheiri <a href=\"https:\/\/www.wam.ae\/en\/details\/1395303089353\">stated<\/a> yesterday at the Fifth National Dialogue for Climate Ambition (NDCA).<\/p>\n<p><strong>In Egypt, the Finance Ministry is tooting a similar horn: <\/strong>The Egyptian government is keen to offer all forms of support to the ins. industry, including tax breaks, and making climate ins. mandatory, according to a speech given by Finance Minister Mohamed Maait at the Ins. Federation of Egypt\u2019s (IFE) <a href=\"https:\/\/sharmrendezvous.ifegypt.net\/Website\/Home\/Index\">event<\/a> on Tuesday. Maait encouraged ins. companies to contribute to a green transition by investing in green bonds, according to <a href=\"https:\/\/english.ahram.org.eg\/News\/477166.aspx\">Ahram Online<\/a>.<\/p>\n<p><strong>And Egypt is walking the talk: <\/strong>Egypt\u2019s Financial Regulatory Authority (FRA) <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/bdae2218-0ed2-4490-8ef8-51b6adaf097c\">signed<\/a> an MoU with <a href=\"https:\/\/www.fsdafrica.org\">FSD Africa<\/a> on Tuesday to contribute to making Egypt\u2019s financial sector more sustainable. This includes being innovative with climate-related ins. products, FRA Chairman Mohamed Farid said. The MoU will enable FSD Africa and the FRA to \u201cdirectly engage with local [ins. providers] and pension funds to support integration of ESG factors in their strategy and operations,\u201d a <a href=\"https:\/\/ent.news\/2022\/10\/UK_CFA_launch_english.pdf\">statement<\/a> by the UK embassy noted on Tuesday.<\/p>\n<div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">\n          Get <b style=\"font-weight: 700\">Enterprise<\/b> daily<br \/>\n        <\/h4>\n<\/p><\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>     <a href=\"climate\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\">Subscribe here<\/a>\n    <\/div>\n<\/p><\/div>\n<\/div>\n<p><p>***<br \/>\n <strong>YOU\u2019RE READING ENTERPRISE CLIMATE, the essential regional publication for senior execs who care about the world\u2019s most important industry. <\/strong>Enterprise Climate covers everything from finance and tech to regulation, products and policy across the Middle East and North Africa. In a nod to the growing geographical ambitions of companies in our corner of the world, we also include an overview of the big trends and data points in nearby countries, including Africa and southern Europe.<\/p>\n<p><strong>Enterprise Climate is published at 4am CLT \/ 5am Riyadh \/ 6am UAE Monday through Thursday by Enterprise<\/strong>, the folks who bring you Enterprise Egypt, your essential 6am and 3pm read on business, finance, policy and economy in Egypt and emerging markets.<\/p>\n<p><strong><a href=\"https:\/\/climate.enterprise.press\/subscribe\/\">Subscribe to Enterprise Climate here<\/a><\/strong> or reach out to us on <a href=\"mailto:climate@enterprisemea.com\">climate@enterprisemea.com<\/a> with comments, suggestions and story tips.<\/p>\n<p>***<\/p>\n<p><strong>HAPPENING TODAY- <\/strong><\/p>\n<p><strong>The Economist Impact\u2019s \u201c<\/strong><strong><a href=\"https:\/\/events.economist.com\/sustainability-week-countdown-to-cop\/abu-dhabi-day\/\">Sustainability Week: Countdown to COP27<\/a><\/strong><strong>\u201d <\/strong><strong>event will take place today in Abu Dhabi.<\/strong> The First Abu Dhabi Bank event, which will be both in-person and virtual, will focus on the strategies governments and businesses should implement to realize climate targets, and the metrics that can be utilized to measure the successful achievement of climate goals.<\/p>\n<p><strong>A who\u2019s who event:<\/strong> The event will be attended by bn\u2019aire philanthropist Bill Gates, the UAE Industry and Advanced Technology Minister Sultan Ahmed Al Jaber, and US Climate Envoy John Kerry, The National <a href=\"https:\/\/www.thenationalnews.com\/uae\/environment\/2022\/10\/05\/bill-gates-to-join-uae-climate-change-champions-at-abu-dhabi-sustainability-summit\/\">writes<\/a>.<\/p>\n<p><strong>CIRCLE YOUR CALENDAR- <\/strong><\/p>\n<p><strong>The Egyptian Center for Economic Studies will be hosting a climate <\/strong><strong><a href=\"https:\/\/erf.org.eg\/events\/the-road-to-cop-27-distinguished-lecture-by-stephane-hallegatte\/\">seminar<\/a><\/strong> <strong>on Monday, 10 October in Cairo. <\/strong>Speaking at the seminar is senior climate change advisor at the Sustainable Development Practice of the World Bank Stephane Hallegatte. The event will focus on the synergies and trade-offs between short-term economic and development goals. You can register for the event <a href=\"https:\/\/erf.org.eg\/event-registration-distinguished-lecture-by-stephane-hallegatte\/\">here<\/a>.<\/p>\n<p><strong>The IMF and World Bank will hold their annual meetings<\/strong> in Washington, DC, on 10-16 October.<\/p>\n<p><strong>The <\/strong><strong><a href=\"https:\/\/www.cairowaterweek.eg\/\">Cairo Water Week 2022<\/a><\/strong><strong> will kick off on Sunday, 16 October<\/strong> and run for four days. Discussions will revolve around climate change strategies and development plans, sustainable financing solutions, as well as water recycling, among other topics.<\/p>\n<p><strong><a href=\"https:\/\/enterprise.press\/am-edition\/#calendar\">Check out our full calendar on the web<\/a><\/strong> for a comprehensive listing of upcoming news events, national holidays and news triggers.<\/p><\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/bill-gates\/\">Bill Gates<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/evs\/\">EVs<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/food-supply-crisis\/\">food supply crisis<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/gcc\/\">GCC<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/green-bonds\/\">green bonds<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/john-kerry\/\">John Kerry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/renewables\/\">renewables<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/saudi-arabia\/\">Saudi Arabia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/uae\/\">UAE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/what-were-tracking-today\/\">WHAT WE\u2019RE TRACKING TODAY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/world-bank\/\">World Bank<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"74246\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"74247\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"74247\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">2<\/div>\r\n\r\n                    <p class=\"f-graphik\">DEBT WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/climate\/2022\/10\/06\/ksa-first-bond-sale-was-nearly-6x-oversubscribed\/\">\r\n                            KSA first bond sale was nearly 6x oversubscribed                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/climate\/2022\/10\/06\/ksa-first-bond-sale-was-nearly-6x-oversubscribed\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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The three-tranche sale \u2014 KSA\u2019s first green bond offering \u2014 drew in orders of around USD 17.9 bn during the day, according to <a href=\"https:\/\/www.reuters.com\/markets\/asia\/saudi-arabias-wealth-fund-gives-initial-guidance-debut-green-bonds-document-2022-10-05\/\">Reuters<\/a>.<\/p>\n<p><strong>A breakdown of the sale: <\/strong>PIF sold USD 1.25 bn of its 5-year note at 125 bps over 5-year US treasuries, and another USD 1.25 bn in 10-year green bonds at 165 bps over 10-year US treasuries.<\/p>\n<p><strong>Saudi also issued the world\u2019s first 100-year green note yesterday.<\/strong> It sold USD 500 mn at 6.7%.<\/p>\n<p><strong>The issue seems to have been 6x oversubscribed<\/strong>, drawing in USD 17.9 bn in orders. The 5-year tranche drew more than USD 9 bn in orders, while the 10-year bonds got over USD 7 bn in orders. The 100-year offering drew around USD 1.9 bn in orders. PIF was expected to sell around USD 500 mn of the 100-year notes, Reuters said.<\/p>\n<p><strong>PIF\u2019s initial pricing:<\/strong> The 5-year bonds went on sale at 150 bps over the 5-year US treasuries while the 10-year tranche was initially priced at around 190 bps over the 10-year US treasuries. The 100-year offering initially went for around 7%-7.25%.<\/p>\n<p><strong>What the market said:<\/strong> \"Issuance of green bonds appears to be accelerating which is welcome news for a region that has an important role to play in the global (energy) transition,\" said Dino Kronfol, Franklin Templeton's chief investment officer of global sukuk and MENA fixed income told Reuters. \u201cNotwithstanding the recent increase in rates, they remain low by historical levels. Locking in term funding by selling century bonds will help PIF efficiently finance their multi-decade economic vision,\u201d Doug Bitcon, head of credit strategies at Rasmala Investment Bank told Bloomberg.<\/p>\n<p><strong>The market\u2019s strong appetite for MENA green bonds was expected:<\/strong> Analysts, including EFG Hermes\u2019 head of Macroeconomic Research Mohamed Abu Basha and Arqaam Capital\u2019s Associate Director Noaman Khalid, <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/cd153860-1efc-4fba-ac3e-b142ec5ea075\">had predicted<\/a> a successful sale in light of strong green bond offerings in other regional countries, despite market volatility in bond markets this year. Abu Dhabi Commercial Bank\u2019s (ADCB) USD 500 mn bond sale drew USD 1.9 bn in orders <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/039de4e2-7078-4457-8904-11d3d4430560\">last month<\/a>. It followed Egypt\u2019s successful sovereign sale back in <a href=\"https:\/\/enterprise.press\/stories\/2020\/09\/30\/egypt-sells-usd-750-mn-of-sovereign-green-bonds-in-maiden-issuance-22640\/\">2020<\/a>. For European and US investors in particular, \u201cMENA will give them new exposure from a portfolio diversification point of view,\u201d Khaled told us.<\/p>\n<p><strong>Advisers:<\/strong> BNP Paribas, Citigroup, Deutsche Bank, Goldman Sachs and JPMorgan are joint global coordinators and bookrunners, while HSBC, Credit Agricole, First Abu Dhabi Bank, Mizuho, SMBC Nikko, SNB Capital, Societe Generale and Standard Chartered are also bookrunners, with \u201c11 more banks being in on the [transaction],\u201d according to Reuters.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/debt-watch\/\">DEBT WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/green-bonds\/\">green bonds<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/pif\/\">PIF<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/saudi-arabia\/\">Saudi Arabia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"74249\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"74249\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">3<\/div>\r\n\r\n                    <p class=\"f-graphik\">ELECTRIC VEHICLES<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/climate\/2022\/10\/06\/made-in-the-uae\/\">\r\n                            \u2026Made in the UAE                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/climate\/2022\/10\/06\/made-in-the-uae\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/climate\/2022\/10\/06\/made-in-the-uae\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/climate\/2022\/10\/06\/made-in-the-uae\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=\u2026Made in the UAE&url=https:\/\/enterpriseam.com\/climate\/2022\/10\/06\/made-in-the-uae\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/climate\/2022\/10\/06\/made-in-the-uae\/&title=\u2026Made in the UAE\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=%E2%80%A6Made+in+the+UAE+https%3A%2F%2Fenterpriseam.com%2Fclimate%2F2022%2F10%2F06%2Fmade-in-the-uae%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/climate\/2022\/10\/06\/made-in-the-uae\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/10\/4832.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"74250\" data-permalink=\"https:\/\/enterpriseam.com\/climate\/2022\/10\/06\/made-in-the-uae\/4832-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/10\/4832.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"4832.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/10\/4832.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/10\/4832.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-74249\" class=\"content-area-description single-story post-74249 post type-post status-publish format-standard has-post-thumbnail hentry category-electric-vehicles tag-audi tag-electric-vehicles tag-enterpriseclimate tag-evs tag-siemens tag-uae wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-02\"><\/a> <strong>The<\/strong><strong> first EV assembly facility in the UAE was inaugurated in Dubai yesterday<\/strong>, according to a <a href=\"https:\/\/bit.ly\/3Ekae9s\">statement<\/a>from Dubai Industrial City. The AED 1.5 bn <a href=\"https:\/\/www.aldamani-auto.com\">Al Damani Auto<\/a> EV plant can currently assemble 10k cars annually but it plans to raise the production capacity to 55k cars per annum over the coming few years. The factory will likely produce two models of Al Damani DMV300, which has a battery capacity of 52.7 kWh and can cover more than 405 km on a single charge. <a href=\"https:\/\/www.mglorygroup.com\">M Glory Holding Group<\/a>, which owns Al Damani Auto, began construction on the plant back in March, according to <a href=\"https:\/\/www.thenationalnews.com\/business\/2022\/03\/28\/uae-company-opens-new-electric-vehicle-manufacturing-plant-in-dubai-industrial-city\/\">the National<\/a>.<\/p>\n<p><strong>Exports from the plant a comin\u2019: <\/strong>M Glory said at the time its EVs will be exported to the wider GCC region, Egypt, Tanzania, Senegal, Mali and Kenya.<\/p>\n<p><strong>The first of many<\/strong><strong>: <\/strong>Nwtn Motors <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/77b5104b-f16b-4835-9377-5378e286deeb\">signed an agreement<\/a> last month for an EV assembly facility that would produce 50k vehicles a year. Dubai\u2019s Jebel Ali Freezone is also home to the region\u2019s first <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/3b17f07f-1cfe-4418-a83b-4981cdab8dac\">EV and battery logistics hub<\/a> operated by DHL and the <a href=\"https:\/\/www.dewa.gov.ae\/en\/consumer\/ev-community\/ev-green-charger\">Dubai EV green charger initiative<\/a> is contributing to expanding the infrastructure to support a gradual transition to EVs.<\/p>\n<p><strong>Thanks to smart policy: <\/strong>The UAE has made EVs and other green technologies a crucial [art of its Net Zero 2050 Strategic Initiative. Earlier this year, Abu Dhabi launched its <a href=\"https:\/\/www.doe.gov.ae\/-\/media\/Project\/DOE\/Department-Of-Energy\/Media-Center-Publications\/Regulations\/English\/Regulatory-Policy-for-EVCI.pdf\">regulatory policy<\/a> for EV charging stations with the aim of attracting investments in the sector and encouraging consumers to buy and drive EVs. The UAE\u2019s charging station to vehicle ratio is among the world\u2019s highest, with the aim to have over 1k stations by 2025, according to a <a href=\"https:\/\/www.cebcmena.com\/KNOWLEDGECENTER\/WEBINARS\/electric-vehicles-in-the-uae:-challenges-and-opportunities\">2021 report<\/a> by Clean and Energy Business Council MENA.<\/p>\n<p><strong>Which has been getting widespread recognition:<\/strong> The UAE was ranked #8 in Arthur D. Little\u2019s Global Electric Mobility Readiness Index (GEMRIX) (<a href=\"https:\/\/bit.ly\/3MfOMUP\">pdf<\/a>) \u2014 the <a href=\"https:\/\/bit.ly\/3V2Wci6\">only MENA<\/a> country to be featured.<\/p>\n<p><strong>AND MORE INFRASTRUCTURE SEEMS TO BE COMING ALONG-<\/strong><\/p>\n<p><strong>Germany\u2019s Siemens is looking to sign agreements to develop EV charging stations and <\/strong><strong>other EV <\/strong><strong>infrastructure in the UAE<\/strong>, chief executive of smart infrastructure at <a href=\"https:\/\/new.siemens.com\/mea\/en.html\">Siemens Middle East<\/a> Franco Atassi told <a href=\"https:\/\/www.thenationalnews.com\/business\/road-to-net-zero\/2022\/10\/05\/germanys-siemens-open-to-signing-more-ev-deals-with-car-makers-in-uae\/\">The National<\/a> last week. In June, the German engineering group signed an agreement with the UAE\u2019s <a href=\"https:\/\/www.moei.gov.ae\/en\/home.aspx\">Ministry of Energy<\/a> and German carmaker <a href=\"https:\/\/www.audi.com\/\">Audi<\/a> to build a network of EV chargers across the country in an effort to encourage higher EV adoption as the government builds out the country\u2019s EV infrastructure. As part of the agreement, Siemens will set up 10 Sicharge D 160 kw ultrafast chargers on motorways in Ras Al Khaimah, Ajman, Umm Al Quwain and Fujairah.<\/p>\n<p><strong>WE GOT BIG ANNOUNCEMENTS ON THAT FRONT AS WELL FROM STARTUPLAND- <\/strong><\/p>\n<p><strong>Kuwaiti Agility Ventures co-leads USD 40 mn investment round in US EV startup Loop: <\/strong>US-based EV charging station company <a href=\"https:\/\/evloop.io\">Loop Global<\/a> raised a USD 40 mn series A investment round, which was co-led by Kuwait-based <a href=\"https:\/\/www.agility.com\/en\/agility-ventures\/\">Agility Ventures<\/a> and US VC firm <a href=\"https:\/\/fifthwall.com\">Fifth Wall<\/a>, the logistics company <a href=\"https:\/\/bit.ly\/3V1z0AV\">announced<\/a> Tuesday.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/audi\/\">Audi<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/electric-vehicles\/\">ELECTRIC VEHICLES<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/evs\/\">EVs<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/siemens\/\">Siemens<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/uae\/\">UAE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"74251\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"74251\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">4<\/div>\r\n\r\n                    <p class=\"f-graphik\">RENEWABLES<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/climate\/2022\/10\/06\/another-notch-on-omans-green-economy-belt\/\">\r\n                            Another notch on Oman\u2019s green economy belt                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/climate\/2022\/10\/06\/another-notch-on-omans-green-economy-belt\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/climate\/2022\/10\/06\/another-notch-on-omans-green-economy-belt\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/climate\/2022\/10\/06\/another-notch-on-omans-green-economy-belt\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Another notch on Oman\u2019s green economy belt&url=https:\/\/enterpriseam.com\/climate\/2022\/10\/06\/another-notch-on-omans-green-economy-belt\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/climate\/2022\/10\/06\/another-notch-on-omans-green-economy-belt\/&title=Another notch on Oman\u2019s green economy belt\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Another+notch+on+Oman%E2%80%99s+green+economy+belt+https%3A%2F%2Fenterpriseam.com%2Fclimate%2F2022%2F10%2F06%2Fanother-notch-on-omans-green-economy-belt%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/climate\/2022\/10\/06\/another-notch-on-omans-green-economy-belt\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-74251\" class=\"content-area-description single-story post-74251 post type-post status-publish format-standard hentry category-renewables tag-enterpriseclimate tag-green-hydrogen tag-oman tag-renewables tag-solar tag-wind-energy wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-04\"><\/a> <strong>Oman is laying the groundwor<\/strong><strong>k for an ambitious energy program: <\/strong>Some 50 sq km of land in the central and southern regions of Oman have been allotted to the development of solar, wind and green hydrogen projects<strong>, <\/strong>the Oman Observer <a href=\"https:\/\/bit.ly\/3V2gdW2\">reported<\/a> last week. Oman \u201chas an abundance of land available that is ideal for these projects,\u201d Industry and Investment Promotion Ministry under-secretary Asila Al Samsamiya said at an energy forum in the UK. She did not mention which specific projects the ministry is looking for.<\/p>\n<p><strong>But we do know that the country likes wind: <\/strong>At least five more major wind projects are for procurement between 2021 and 2027, she added.<\/p>\n<p><strong>And energy export is also on the agenda: <\/strong>\u201cOur location offers a great competitive advantage as we are optimally suited to support shipments of local green fuels to markets in Asia, the Middle East and Europe,\u201d Al Samsamiya added.<\/p>\n<p><strong>Generally, Oman has been adamant to get renewable projects off the ground. <\/strong>Only last week, the Oman Investment Authority (OIA) and Abu Dhabi-based investment company ADQ identified major investments in wind, solar and hydrogen among others, worth AED 30 bn according to a <a href=\"https:\/\/bit.ly\/3ruubm8\">statement.<\/a><\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/green-hydrogen\/\">green hydrogen<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/oman\/\">Oman<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/renewables\/\">renewables<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/solar\/\">SOLAR<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/wind-energy\/\">Wind Energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"74252\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"74252\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">5<\/div>\r\n\r\n                    <p class=\"f-graphik\">SPOTLIGHT<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/climate\/2022\/10\/06\/our-sitdown-with-the-uks-ambassador-to-egypt-gareth-bayley\/\">\r\n                            Our sitdown with the UK\u2019s Ambassador to Egypt Gareth Bayley                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/climate\/2022\/10\/06\/our-sitdown-with-the-uks-ambassador-to-egypt-gareth-bayley\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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Egypt has a very deep pool of bankable projects, particularly in renewables, he added, noting that UK development finance institution <a href=\"https:\/\/www.bii.co.uk\/en\/\">British International Investment<\/a> dubbed Egypt as a powerhouse, putting it on the list of one of five markets around the world where it wants to be investing.<\/p>\n<p><strong>Here\u2019s hoping: <\/strong>Egypt has traditionally been seen as a dev finance recipient country, but Bayley thinks it can be more. \u201cI have never seen Egypt as a traditional recipient country. I think economically, we should discuss Egypt as a powerhouse and a country that can be a market leader rather than a market recipient,\u201d he explained.<\/p>\n<p><strong>But for that to happen big finance and the private sector need to sit down: <\/strong>\u201cI've seen climate champions like Mahmoud Mohieldin and Nigel Topping in action. They're not just marketing \u2014 they really are saying that there is an enormous amount of private sector capital searching for anything to show their shareholders that they've gone green,\u201d Bayley said. In his eyes, it\u2019s just a question of matchmaking at this point, which is what the CFA has come to do.<\/p>\n<p><strong>UK Prime Minister Liz Truss will continue to provide Egypt with development finance, Bayley reassured us<\/strong>. \u201cIt is such a straightforward subject that I don't think it\u2019ll even be put on her desk. It's just going to get done,\u201d he believes. \u201cIt is very clear to me that the British government's commitment to Egypt in climate and development financing is as it ever was.\u201d<\/p>\n<p><strong>Now why isn\u2019t King Charles III attending COP27 this year? <\/strong>Despite the king\u2019s commitment to climate, the environment and his <a href=\"https:\/\/www.sustainable-markets.org\/\">Sustainable Markets Initiative<\/a>, he had to reflect on the balance between his global duties, his interests and being a monarch, Bayley said. \u201cHe has, however, said that <strong>he would like to be involved in some way to support Egypt in the run-up to the summit<\/strong> and perhaps be present remotely at COP27.\u201d<\/p>\n<p><strong>There are a few other climate projects that the UK Embassy is going to be focusing on until the end of the year. <\/strong>The UK is looking into a couple of proposals to be funded through the International Climate Fund related to green hydrogen, the ambassador said. British International Investment is also launching the Care for Water Package, which looks at desalination and various other aspects of the water industry. The package will be announced at COP27 and is very closely aligned with the government\u2019s NWFE plan, he tells us.<\/p>\n<p><strong>What is the CFA? <\/strong>The GBP 10.8 mn four-year technical assistance program will help build and identify a pipeline of 8-12 bankable low-carbon projects and give them access to financing. The program is currently accepting proposals for projects seeking USD 1 mn in funding. <a href=\"https:\/\/lnkd.in\/dkTXMEdr\">You can apply here through 16 October<\/a>.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/egypt\/\">Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/gareth-bayley\/\">Gareth Bayley<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/green-finance\/\">green finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/spotlight\/\">SPOTLIGHT<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/uk\/\">UK<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"74254\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">      \r\n<section id=\"advertiser\" class=\"enterprise-adv issue-section\">\r\n    <div class=\"issue-section__content\" style=\"flex-direction: column;\">\r\n      <h4 class=\"wp-block-heading has-text-align-center has-normal-font-size\">\r\n        <span class=\"has-primary-color stk-highlight\"> This publication is proudly sponsored by<\/span>\r\n    <\/h4>\r\n\r\n    <div class=\"issue-sponsor-slide issue-sponsor-slide--single-slide mx-auto\">\r\n        <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/25497.png?ssl=1\">\r\n        <div class=\"overlay\"><\/div>\r\n        <div class=\"content\">\r\n            <a draggable=\"false\" href=\"https:\/\/www.hsbc.com.eg\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/25398.svg\" alt=\"\">\r\n            <\/a>\r\n            <span>Opening up a world of opportunity<\/span>\r\n        <\/div>\r\n    <\/div>\r\n\r\n      <\/div>\r\n<\/section> \r\n\r\n\n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"74255\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"74255\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">6<\/div>\r\n\r\n                    <p class=\"f-graphik\">FOUNDER OF THE WEEK<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/climate\/2022\/10\/06\/tackling-structural-inefficiencies-to-save-energy-in-emerging-markets\/\">\r\n                            Tackling structural inefficiencies to save energy in emerging markets                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/climate\/2022\/10\/06\/tackling-structural-inefficiencies-to-save-energy-in-emerging-markets\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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As the commercial director of the company, I covered emerging markets, including the Philippines, Ethiopia, Brazil, as well as Egypt. I noticed a gap when it came to solutions and software developed and tailored for emerging markets.<\/p>\n<p><strong>This led my cofounder and I to build Pylon in 2017: <\/strong>When my cofounder Omar Rady and I were looking at data meter management for utility companies we looked at what was coming out of the big five players, including Siemens, Schneider, Oracle. We found that their offerings do not cater to the challenges we face in emerging markets. Electricity theft, for instance, is virtually unheard of in the developed world. It is quite prevalent in emerging markets. We then started building our product from there.<\/p>\n<p><strong>The main challenge for water and electricity providers are revenue losses stemming from structural inefficiencies. <\/strong>These losses amount to USD 2 bn per year in Egypt alone, and some USD 400 bn in EMs. The lost revenue is a consequence of inefficient revenue collection, electricity or water theft from tampering and leakages or technical losses.<\/p>\n<p><strong>How we tackle the efficiency gap:<\/strong> We provide software that is able to detect even the most technical systemic inefficiencies by analyzing copious amounts of data.<\/p>\n<p><strong>Globally deploying Pylon\u2019s products would reduce carbon emissions from electricity grids by 25%<\/strong>, according to our calculations.<\/p>\n<p><strong>We also integrate renewable energy sources on the grid across the emerging markets we operate in.<\/strong> Similarly, by detecting leakages or technical losses happening across networks, we enhance energy efficiency.<\/p>\n<p><strong>There are three KPIs we focus on:<\/strong> On the operational side, we focus on our data collection and the efficiency of our solution on the ground. These metrics are crucial because they clarify how quickly we can scale our offerings through different utilities. On the commercial side, we focus on how fast we can land customers. We operate in a business with a long sales cycle, so being able to reduce this cycle is essential.<\/p>\n<p><strong>We raised a total of USD 19 mn in a seed funding round<\/strong> led by Endure Capital, Cathexis Ventures, Khwarizmi Ventures, LoftyInc Capital and a mix of angel investors, last <a href=\"https:\/\/enterprise.press\/stories\/2022\/04\/13\/pylon-closes-usd-19-mn-seed-round-69151\/\">April<\/a>.<\/p>\n<p><strong>We bootstrapped Pylon from 2017 up until we joined startup accelerator <\/strong><strong><a href=\"http:\/\/www.ycombinator.com\/\">YCombinator<\/a><\/strong><strong> (YC) in 2021. <\/strong>The self-funded route was very tough, but we learned a lot from it. Joining YC proved to be a life-changing experience. They helped us navigate and overcome the challenges we faced, and enabled us to connect with a multitude of interested, high caliber investors. I think investors bring a lot to the table, including their perspective on what could go wrong. Having someone poke holes at your business and tell you what could go wrong is eye-opening.<\/p>\n<p><strong>Future and current funding plans:<\/strong> We originally planned to have another funding round again by the end of 2022, but, given the economic meltdown, we decided to put those plans on hold. We are currently actively raising debt and equity from different financial institutes, including commercial banks and development institutions.<\/p>\n<p><strong>Short term and long term goals:<\/strong> In the short term, we want to expand into new emerging markets. We currently operate in three countries and want to increase that number to seven developing countries. We also want to maintain our revenue growth levels of no less than 250% y-o-y. My long term goal is to be a \u201cgigacorn\u201d startup \u2014 one that reduces the world's emission by one gigatonne (1 bn tonnes) per year.<\/p>\n<p><strong>I really hope that COP27 and COP28 will inspire new green startups to come to existence in the region.<\/strong> I haven\u2019t seen a lot of interest on the startup level yet, regionally speaking.<\/p>\n<p><strong>I think a climate-focused sector that should get more attention in coming years due to its importance is agritech. <\/strong>The adverse side effects of climate change will ultimately lead to food insecurity.<\/p>\n<p><strong>When we become a gigacorn, an IPO would be the go-to exit strategy.<\/strong> I would prefer to be listed in the NYSE, or somewhere in Europe, depending on the investment appetite at the time. Plan B would be the acquisition route.<\/p>\n<p><strong>To relax, switch off from work and stay sane, I work out, spend quality time with family and friends and do a lot of reading.<\/strong> The last great thing I read was <a href=\"https:\/\/www.amazon.com\/Blitzscaling-Lightning-Fast-Building-Massively-Companies\/dp\/1524761419\">Blitzscaling<\/a> by Ried Hoffman and Chris Yeh. The book brilliantly delves into the different phases of a startup\u2019s journey. It also expertly educates founders and would-be founders about the best strategies and practices to excel at every one of those stages.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/ahmed-ashour\/\">Ahmed Ashour<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/egypt\/\">Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/electricity\/\">electricity<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/founder-of-the-week\/\">FOUNDER OF THE WEEK<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/infrastructure\/\">infrastructure<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/pylon\/\">Pylon<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/startups\/\">startups<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/trade\/\">trade<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"74257\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"calendar\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/climate\/2022\/10\/06\/74257\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-74257\" class=\"content-area-description single-story post-74257 post type-post status-publish format-standard hentry category-calendar wpautop entry\">\n\n\t\t\t<hr class=\"wp-block-separator has-text-color has-primary-color has-alpha-channel-opacity has-primary-background-color has-background is-style-wide\">\n\n\t\t<h2 class=\"wp-block-heading mt-0 has-primary-color has-text-color has-link-color has-normal-font-size\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\">\n\t\t\t<strong> CALENDAR<\/strong>\n\t\t<\/h2>\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>OCTOBER<\/strong><\/p>\n<p>10 October (Monday): <a href=\"https:\/\/erf.org.eg\/events\/the-road-to-cop-27-distinguished-lecture-by-stephane-hallegatte\/\">Egyptian Center for Economic Studies\u2019 Climate and Development: Synergies and Trade-offs seminar<\/a>, Institute of National Planning, Cairo, Egypt.<\/p>\n<p>12 October (Wednesday): Top 50 Women Forum and Egyptian Institute of National Planning\u2019s <a href=\"https:\/\/www.zawya.com\/en\/press-release\/companies-news\/top-50-women-forum-launches-integrated-program-to-support-green-economy-transition-and-climate-action-umg21qxv\">Women Towards Sustainability seminar<\/a>, Egypt.<\/p>\n<p>16-19 October (Sunday-Wednesday): <a href=\"https:\/\/www.cairowaterweek.eg\/\">Cairo Water Week 2022<\/a>, Nile Ritz Carlton, Cairo.<\/p>\n<p>24-26 October (Monday-Wednesday): <a href=\"https:\/\/era.dz\/\">International Exhibition of Renewable Energies Clean Energies and Sustainable Development<\/a>, Centre Des Conventions Mohammed Ben Ahmed, Oran, Algeria.<\/p>\n<p>30 October-1 November: (Sunday-Tuesday):<a href=\"https:\/\/www.egypt-energy.com\/en\/2022-conference\/Conference-Overview.html\">Egypt Energy 2022 Conference<\/a>, Egypt International Exhibition Centre, New Cairo, Egypt.<\/p>\n<p>31 October (Monday): Deadline for proposals for Jordan\u2019s <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/18206ee2-c4a0-4f8c-8c1f-4f239e34f91b\">USD 2 bn Aqaba-Amman desalination project<\/a>.<\/p>\n<p>Approval of <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/ea65a4f2-e77c-426b-8ad0-9120704954f6\">EU draft document<\/a> pushing countries participating in COP27 to improve their climate change targets.<\/p>\n<p><strong>NOVEMBER<\/strong><\/p>\n<p>Sustainability Forum Middle East is taking place in Bahrain.<\/p>\n<p>Nigeria hopes to <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/ea65a4f2-e77c-426b-8ad0-9120704954f6\">secure USD 10 bn<\/a> support package for green energy transition before COP27.<\/p>\n<p>7-18 November (Monday-Friday): Egypt will host <a href=\"https:\/\/www.cop27egy.com\/\">COP27<\/a> in Sharm El Sheikh.<\/p>\n<p>23-24 November (Wednesday-Thursday): <a href=\"https:\/\/www.facebook.com\/moegov.sa\/posts\/pfbid0HSxtqnTELrfrK4xaL84pnTsP9w4mjPCiPdAH2LA81efe7UXPbvjX64zynsc4zBnUl\">Global Conference on Sustainable Partnerships<\/a>, The Ritz-Carlton, Riyadh, Saudi Arabia.<\/p>\n<p>Deadline of bid submissions for the Ras Mohaisen - Baha \u2013 Makkah Independent Water Transmission Pipeline in Saudi Arabia.<\/p>\n<p><strong>COP27 sub-events:<\/strong><\/p>\n<p><a href=\"https:\/\/www.sustainable-markets.org\/terra-carta\/\">Terra Carta Action Forum<\/a> (2 days) organized by the Prince of Wales\u2019 Sustainable Markets Initiative.<\/p>\n<p>UNFCCC\u2019s <a href=\"https:\/\/unfccc.int\/capacity-building-hub\">capacity building hub<\/a>.<\/p>\n<p><strong>DECEMBER<\/strong><\/p>\n<p>13-15 December (Tuesday-Thursday): <a href=\"https:\/\/irec-conference.com\/\">International Renewable Energy Congress<\/a>, Hammamet, Tunisia.<\/p>\n<p>15 December (Thursday) The<a href=\"https:\/\/www.un.org\/en\/climatechange\/events\">UN\u2019s 15th meeting of the Conference of the Parties to the Convention on Biological Diversity<\/a> (COP15), Montreal, Canada.<\/p>\n<p><strong>JANUARY 2023<\/strong><\/p>\n<p>14-21 January (Saturday-Saturday): <a href=\"https:\/\/abudhabisustainabilityweek.com\/\">Abu Dhabi Sustainability Week<\/a> takes place in the UAE.<\/p>\n<p>16-18 January (Monday-Wednesday): <a href=\"https:\/\/www.neventum.com\/tradeshows\/ecowaste\">EcoWASTE<\/a>, Abu Dhabi National Exhibition Center (ADNEC), UAE.<\/p>\n<p><strong>FEBRUARY 2023<\/strong><\/p>\n<p>6-8 February (Monday-Wednesday): <a href=\"https:\/\/www.simec-expo.com\/\">Saudi International Marine Exhibition and Conference<\/a>, Hilton Riyadh, Saudi Arabia.<\/p>\n<p>The second edition of The Arab Green Summit (TAGS), Dubai, UAE<\/p>\n<p><strong>MARCH 2023<\/strong><\/p>\n<p>15-19 March (Wednesday-Sunday): <a href=\"https:\/\/agriteq.com\/en\/the-conference\/\">Qatar International Agricultural and Environmental Exhibition<\/a>, Doha, Qatar.<\/p>\n<p><strong>JUNE 2023<\/strong><\/p>\n<p>1-3 June (Thursday-Saturday): <a href=\"http:\/\/www.envirotecener-expo.com\/\">Envirotec and Energie Expo<\/a>, UTICA, Tunis, Tunisia.<\/p>\n<p><strong>SEPTEMBER 2023<\/strong><\/p>\n<p><a href=\"https:\/\/www.chariotenergygroup.com\/\">Chariot Limited<\/a> and <a href=\"https:\/\/www.total-eren.com\/\">Total Eren<\/a>\u2019s feasibility study on a 10 GW green hydrogen plant in Mauritania to <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/f1323428-033c-4ff9-a0b6-716f87613360\">be completed<\/a>.<\/p>\n<p><strong>NOVEMBER 2023<\/strong><\/p>\n<p>6-17 November (Monday-Friday): The UAE will host <a href=\"https:\/\/sdg.iisd.org\/events\/2022-un-climate-change-conference-unfccc-cop-28\/#:~:text=The%2028th%20session%20of%20the,in%20the%20United%20Arab%20Emirates.\">COP28<\/a>.<\/p>\n<p><strong>EVENTS WITH NO SET DATE<\/strong><\/p>\n<p><strong>End-2022 <\/strong><\/p>\n<p>KSA\u2019s Neom wants to <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/41c4acda-ffa5-4e25-ae17-48b53fc7df69\">tender three concrete water reservoir<\/a> projects to up its water storage capacity by 6 mn liters.<\/p>\n<p><strong>2023 <\/strong><\/p>\n<p>Early 2023: Egypt\u2019s <a href=\"https:\/\/www.karmsolar.com\/\">KarmSolar<\/a> to <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/afa55bc3-dec6-4f46-b806-25518b05cda1\">launch KarmCharge<\/a>, the company\u2019s EV charging venture.<\/p>\n<p>Mid-2023: Sale of Sembcorp Energy India Limited to consortium of Omani investors <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/dbe558b6-6166-404f-8aa3-2bd7b56647dd\">to close<\/a>.<\/p>\n<p>Phase C of the 900-MW of the Mohammed bin Rashid Al Maktoum Solar Park in Dubai to <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/f2f525f9-dc10-477e-a2d5-67e7d6d790c2\">be completed<\/a>.<\/p>\n<p>Saudi Basic Industries Corporation (<a href=\"https:\/\/www.sabic.com\/en\">Sabic<\/a>) steam cracker furnace powered by renewable energy to <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/c6bbb030-2107-4aec-bc3c-9dfbe4d55975\">come online<\/a>.<\/p>\n<p><strong>2024 <\/strong><\/p>\n<p>End-2024: Emirati <a href=\"http:\/\/ar.ae\">Masdar<\/a>\u2019s 500 MW wind farm in Uzbekistan to <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/13a804af-a659-4152-82b2-a3c920862f2b\">begin commercial operations<\/a>.<\/p>\n<p><a href=\"https:\/\/www.qatarenergy.qa\/en\/Pages\/Home.aspx\">QatarEnergy<\/a>\u2019s industrial cities solar power project <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/afa55bc3-dec6-4f46-b806-25518b05cda1\">will start electricity<\/a> production.<\/p>\n<p>First 1.5 GW phase of Morocco\u2019s <a href=\"https:\/\/xlinks.co\/morocco-uk-power-project\/\">Xlinks<\/a> solar and wind energy project to <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/52aefc63-82e3-42e3-8afc-960461fa5288\">be operational<\/a>.<\/p>\n<p><strong>2025 <\/strong><\/p>\n<p>Second 1.5 GW phase of Morocco\u2019s <a href=\"https:\/\/xlinks.co\/morocco-uk-power-project\/\">Xlinks<\/a> solar and wind energy project to <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/52aefc63-82e3-42e3-8afc-960461fa5288\">be operational<\/a>.<\/p>\n<p>UAE to <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/9ec60000-0539-4d85-baf5-5beaf020a34f\">have over 1k<\/a> EV charging stations installed.<\/p>\n<p><strong>2026 <\/strong><\/p>\n<p>1Q 2026: <a href=\"https:\/\/www.qatarenergy.qa\/en\/Pages\/Home.aspx\">QatarEnergy<\/a>\u2019s USD 1 bn blue ammonia plant <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/77469f6c-f938-4a97-8cac-3146b39b6cbe\">to be completed<\/a>.<\/p>\n<p>End-2026: HSBC Bahrain to <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/a2ead528-71fb-423b-a6f8-e18b2c9897d8\">eliminate single-use<\/a> PVC plastic cards.<\/p>\n<p>Iraq\u2019s <a href=\"http:\/\/www.massgroupholding.com\/English\/default.aspx\">Mass Group Holding<\/a> wants to <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/0239be52-0fa8-43fd-8db9-68f967fb1529\">invest EUR 1 bn<\/a> on its thermal plant Mintia in Romania to have 62% of run on renewable energy, while expanding its energy capacity to at least 1.29k MWh.<\/p>\n<p><strong>2027<\/strong><\/p>\n<p>MENA\u2019s district cooling market is <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/59376411-8296-47dc-87cc-43ddc792bba4\">expected to reach<\/a> USD 15 bn.<\/p>\n<p><strong>2030 <\/strong><\/p>\n<p>UAE\u2019s Abu Dhabi Commercial Bank (ADCB) wants to <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/ea65a4f2-e77c-426b-8ad0-9120704954f6\">provide AED 35 bn<\/a> in green financing.<\/p>\n<p>UAE <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/a9c832ed-f423-479e-884d-90cabefe3a0b\">targets 14 GW<\/a> in clean energy capacity.<\/p>\n<p>Tunisia <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/7c5659c7-cf17-4cd6-9d18-c8afb5c643fb\">targets 30%<\/a> of renewables in its energy mix.<\/p>\n<p>Qatar wants to <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/7881b1d2-724a-4914-ba85-0545e72901c9\">generate USD 17 bn<\/a> from its circular economy, creating 9k-19k jobs.<\/p>\n<p>Morocco\u2019s <a href=\"https:\/\/xlinks.co\/morocco-uk-power-project\/\">Xlinks<\/a> solar and wind energy project to <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/52aefc63-82e3-42e3-8afc-960461fa5288\">generate 10.5 GW<\/a> of energy.<\/p>\n<p><strong>2035 <\/strong><\/p>\n<p>Qatar to <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/77469f6c-f938-4a97-8cac-3146b39b6cbe\">capture up to 11 mn tons<\/a> of CO2 annually.<\/p>\n<p><strong>2045 <\/strong><\/p>\n<p>Qatar\u2019s Public Works Authority\u2019s (Ashghal) USD 1.5 bn sewage treatment facility to reach 600k cm\/d capacity.<\/p>\n<p><strong>2060 <\/strong><\/p>\n<p>Nigeria aims to <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/ea65a4f2-e77c-426b-8ad0-9120704954f6\">achieve its net-zero<\/a> emissions target.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n","protected":false},"excerpt":{"rendered":"","protected":false},"featured_media":74244,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-74243","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"37eec17e-252d-4fdc-b243-38412d58ef80","teaser":"","photo_url":"https:\/\/ent.news\/2020\/12\/30.jpg"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Saudi Arabia\u2019s sovereign wealth fund had a very good debut green bond issuance. - Climate<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/climate\/issues\/saudi-arabias-sovereign-wealth-fund-had-a-very-good-debut-green-bond-issuance\/\" \/>\n<meta property=\"og:locale\" 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