{"id":74451,"date":"2022-10-24T02:50:28","date_gmt":"2022-10-24T02:50:28","guid":{"rendered":"https:\/\/enterpriseam.com\/climate\/?post_type=issue&#038;p=74451"},"modified":"2025-12-15T08:02:18","modified_gmt":"2025-12-15T08:02:18","slug":"morocco-becomes-a-prime-spot-for-renewable-energy-investments","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/climate\/issues\/morocco-becomes-a-prime-spot-for-renewable-energy-investments\/","title":{"rendered":"Morocco becomes a prime spot for renewable energy investments."},"content":{"rendered":"<section id=\"74453\" 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=\"74453\">\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\/24\/today-saudi-arabia-launched-massive-supply-chain-initiative-iraq-is-working-on-its-waste-to-energy-law\/\">\r\n                            TODAY: Saudi Arabia launched massive supply chain initiative + Iraq is working on its waste-to-energy law                        <\/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\/24\/today-saudi-arabia-launched-massive-supply-chain-initiative-iraq-is-working-on-its-waste-to-energy-law\/\" 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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That said, let\u2019s jump right in:<\/p>\n<p><strong>THE BIG CLIMATE STORY in our corner of the world: A whole lot of investment seems to <\/strong><strong>be coming Morocco\u2019s way. <\/strong>Multiple companies and a number of governments have announced plans to invest in Morocco\u2019s renewable energy sector. The most recent of these was Indian conglomerate Adani Group, which is hoping to build around 10 GW of renewable energy capacity to feed a green ammonia plant that will export to Europe. The company is reportedly restructuring its debt with a new low-interest green bond offering. <strong>Adani Group joined Hassan Allam Holding and Orascom Investment Holding in announcing investments in the kingdom<\/strong> over the weekend.<\/p>\n<p><strong>ALSO- Oman is looking to shore up its own green hydrogen sector, <\/strong>announcing a strategy yesterday that would see it invest USD 140 bn by 2050. The strategy comes with a new regulatory framework, and a new agency that will be responsible for tendering green hydrogen projects. The strategy comes with a series of incentives along with a timeframe and other details on Oman\u2019s next green hydrogen tender.<\/p>\n<p><strong>^^ We\u2019ve got chapter and verse on these stories and more in the news well, below. <\/strong><\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-05\"><\/a> <strong>WATCH THIS SPACE #1- <\/strong><strong>Saudi Arabia wants to be a global supply chain hub <\/strong><strong>\u2014 <\/strong><strong>with a special focus on renewable energy. <\/strong>Saudi Arabia kicked off what it\u2019s calling a global supply chain resilience initiative (GSCRI) with the hope of turning the kingdom to a key logistics and supply chain hub for a number of industries, including in the green economy, state-run <a href=\"https:\/\/www.spa.gov.sa\/viewstory.php?lang=en&newsid=2394657\">SPA<\/a> announced yesterday evening. The initiative will see Saudi developing its industrial, logistics and supply chain infrastructure in the hopes of drawing in some SAR 40 bn in investments.<\/p>\n<p><strong>To do this, KSA is offering some SAR 10 bn in financial and nonfinancial incentives<\/strong> for those looking to get into manufacturing of green metals, blue and green hydrogen, recycling and others. \u201cSaudi Arabia also offers access to oil, gas, electricity, renewable energy and human resources at competitive costs,\u201d SPA writes.<\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-06\"><\/a> <strong>WATCH THIS SPACE #2- <\/strong><strong>Are we a step closer to a regional green IPO? <\/strong>The Emirates Central Cooling Systems Corporation (<a href=\"https:\/\/www.empower.ae\/\">Empower<\/a>) borrowed USD 1.5 bn in part to fund a special dividend payment ahead of a potential IPO. The district cooling company took out a loan from <a href=\"https:\/\/emiratesnbd.com.eg\/egypt-en\/\">Emirates NBD Bank<\/a> to \u201coptimize its capital structure\u201d ahead of its IPO, which could begin as early as next week, sources close to the matter tell <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-10-21\/empower-said-to-borrow-1-5-billion-to-fund-pre-ipo-dividend\">Bloomberg<\/a>. Dubai Electricity and Water Authority (<a href=\"http:\/\/www.dewa.gov.ae\/en\">DEWA<\/a>), which owns 70% of the company and shareholder <a href=\"https:\/\/www.difc.ae\/public-register\/ema-power-investment-limited\/\">Emirates Power Investment<\/a> were paid AED 2.9 bn (USD 790 mn) in dividends, reported Bloomberg, citing a presentation shared on the <a href=\"https:\/\/www.empower.ae\/helpdesk\/ViewDoc?src=doc2.pdf\">company\u2019s website<\/a>.<\/p>\n<p><strong>Empower is looking to raise as much as USD 700 mn from the IPO as early as next week<\/strong>, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-09-30\/empower-said-to-plan-up-to-700-million-dubai-ipo-in-november#xj4y7vzkg\">Bloomberg<\/a> reported last week, with the caveat that it could always kick the listing to 2023. The district cooling firm was part of 10 state-owned firms slated for listing last November by Dubai\u2019s government as part of its privatization program.<\/p>\n<p><strong>Advisers:<\/strong> Empower appointed Bank of America, Citigroup and Emirates NBD as joint global coordinators on its IPO, while Moelis and Emirates NBD are acting as financial advisers.<\/p>\n<p><strong>WATCH THIS SPACE #3- First UAE blue ammonia shipment arrives in Germany: <\/strong>German mining company Aurubis received 13 tons of blue ammonia, courtesy of the UAE, Aurubis <a href=\"https:\/\/bit.ly\/3SqvFZx\">said<\/a> on Friday. The Abu Dhabi National Oil Company\u2019s (<a href=\"https:\/\/www.adnoc.ae\">Adnoc<\/a>) first shipment to Aurubis will be used as a fuel source in the latter\u2019s wire rod factory. Adnoc is <a href=\"https:\/\/bit.ly\/3TPIX2O\">developing a low-carbon ammonia plant<\/a> that will produce 1 mn tons per year.<\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-07\"><\/a> <strong>WATCH THIS SPACE #4- Egypt\u2019s rare-earth play could supply critical <\/strong><strong>components for renewables, semiconductors \u2014 and it\u2019s attracting interest from foreign investors.<\/strong> Australian mining firm <a href=\"https:\/\/www.fmgl.com.au\">Fortescue Future Industries<\/a> is <a href=\"https:\/\/bit.ly\/3Dqo756\">reportedly eyeing<\/a> the extraction of rare earth elements in Egypt. Fortescue wants to explore investment in the country\u2019s mining sector, with a particular interest in rare earth minerals including silica, which is used to produce solar panels. Fortescue has also expressed interest in <a href=\"https:\/\/ffi.com.au\/news\/fortescue-future-industries-studies-green-hydrogen-opportunities-in-the-arab-republic-of-egypt\/\">green hydrogen<\/a> as well as some <a href=\"https:\/\/www.presidency.eg\/en\/%D9%82%D8%B3%D9%85-%D8%A7%D9%84%D8%A3%D8%AE%D8%A8%D8%A7%D8%B1\/%D8%A3%D8%AE%D8%A8%D8%A7%D8%B1-%D8%B1%D8%A6%D8%A7%D8%B3%D9%8A%D8%A9\/%D8%A7%D9%84%D8%B1%D8%A6%D9%8A%D8%B3-%D8%B9%D8%A8%D8%AF-%D8%A7%D9%84%D9%81%D8%AA%D8%A7%D8%AD-%D8%A7%D9%84%D8%B3%D9%8A%D8%B3%D9%8A-%D9%8A%D8%B3%D8%AA%D9%82%D8%A8%D9%84-%D8%B1%D8%A6%D9%8A%D8%B3-%D8%B4%D8%B1%D9%83%D8%A9-ffi-%D8%A7%D9%84%D8%A3%D8%B3%D8%AA%D8%B1%D8%A7%D9%84%D9%8A%D8%A9-%D9%84%D9%84%D8%B7%D8%A7%D9%82%D8%A9-10092022\/\">9 GW<\/a> of renewable energy in Egypt.<\/p>\n<p><strong>The case for rare earth in Egypt: <\/strong>Egypt\u2019s accumulation of heavy minerals \u2014 dubbed \u201cblack sands\u201d \u2014 has important export value due to its use in everything from renewables to semiconductors. Hassan Allam Holding <a href=\"https:\/\/enterprise.press\/stories\/2022\/10\/20\/last-nights-talk-shows-our-first-black-sand-plant-84599\/\">inaugurated Egypt\u2019s first rare earth<\/a> plant last week.<\/p>\n<p><strong>GO DEEPER- <\/strong><a href=\"https:\/\/enterprise.press\/stories\/2022\/10\/23\/profiling-the-egyptian-black-sand-companys-burullus-plant-84796\/\">EnterprisePM\u2019s weekly Inside Industry<\/a> feature took a look at the Burullus black sands project yesterday.<\/p>\n<p><strong>THE COUNTDOWN TO COP (12 days to go)-<\/strong><\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-08\"><\/a> <strong>The African Development Bank will announce a USD 1.5 bn green facility to <\/strong><strong>help African <\/strong><strong>countries develop clean energy at COP27<\/strong>, the bank\u2019s principal climate officer told <a href=\"https:\/\/bloom.bg\/3MZrjYl\">Bloomberg<\/a>. The funding will be directed at climate-related projects also pertaining to adapting infrastructure to the effects of global warming. The lender plans to raise USD 100 mn by the end of next year, and the full USD 1.5 bn by the end of 2025.<\/p>\n<p><strong>Saudi will host two climate-focused events during COP27:<\/strong> Saudi Arabia\u2019s <a href=\"https:\/\/www.greeninitiatives.gov.sa\/ar-sa\/mgi-summit\/\">Middle East<\/a><a href=\"https:\/\/www.greeninitiatives.gov.sa\/ar-sa\/mgi-summit\/\">Green Initiative<\/a> (MGI) will kick off on 7 November in Sharm El Sheikh, while its <a href=\"https:\/\/www.greeninitiatives.gov.sa\/ar-sa\/sgi-forum\">Saudi Green Initiative<\/a> (SGI) Forum will run from 11-12 November, the Saudi Press Agency <a href=\"https:\/\/www.spa.gov.sa\/viewfullstory.php?lang=en&newsid=2394087#2394087\">quotes<\/a> crown prince Muhammad bin Salman as saying. SGI will highlight Saudi Arabia\u2019s efforts to push down carbon emissions and will spotlight the country\u2019s renewable energy projects. MGI will focus on charting a course for MENA\u2019s green transition.<\/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><strong>THE BIG CLIMATE STORY OUTSIDE THE REGION- Some scientists think global CO2 <\/strong><strong>emissions from burning fossil fuels will rise by less than <\/strong><strong>1% this year<\/strong>, thanks to the growing renewables and EV industries, the International Energy Agency <a href=\"https:\/\/bit.ly\/3z503lm\">said<\/a>. This would amount to an increase of 300 mn tons to 33.8 bn tons in 2022, compared to the much higher 2 bn-ton jump last year.<\/p>\n<hr class=\"grey-line\">\n<p><strong>SMART POLICY<\/strong><strong>- Iraq is preparing a bill that aims to spur investment in waste-to-energy <\/strong><strong>projects: <\/strong>Iraq\u2019s Environment Ministry and the country\u2019s National Investment Commission are preparing a new solid waste-to-energy law to attract investments, the Environment Ministry's technical department head Issa Fayad was <a href=\"https:\/\/bit.ly\/3SC1xe8\">quoted<\/a> as saying by the Iraqi Press Agency on Wednesday.<\/p>\n<p><strong>Not so smart: <\/strong>The legislation will apparently also promote the use of methane gas as an energy source, Fayad says without providing details. Methane accounts for 20% of global emissions, <a href=\"https:\/\/www.epa.gov\/gmi\/importance-methane#:~:text=Methane%20is%20the%20second%20most,trapping%20heat%20in%20the%20atmosphere.\">according to the US Environmental Protection Agency<\/a>.<\/p>\n<p><strong>HAPPENING TODAY- <\/strong><\/p>\n<p><strong>The Middle East Institute\u2019s virtual <\/strong><strong><a href=\"https:\/\/www.mei.edu\/events\/road-cop27\">keynote conference on COP27<\/a><\/strong><strong> starts today at 5:30pm <\/strong><strong>UAE (3:30 pm <\/strong><strong>CLT).<\/strong> The one-day event will see a focus on raising climate financing for climate mitigation and adaptation efforts for developing countries, and will spotlight how organizations, like the Green Climate Fund, can be more effective in mobilizing capital to aid emerging economies\u2019 in climate adaptation. Speakers will include the executive director of the Egyptian Center for Economic Studies Abla Abdel Latif and the regional director of infrastructure for MENA at the World Bank Paul Noumba Um. Register for the online event <a href=\"https:\/\/mei.swoogo.com\/road_to_cop27\/begin?utm_source=ECES+News&utm_campaign=d183a9bca2-EMAIL_CAMPAIGN_2020_05_28_01_13_COPY_02&utm_medium=email&utm_term=0_e9f343ff77-d183a9bca2-308121960\">here<\/a>.<\/p>\n<p><strong>Arab Sustainability Week kicks off today, <\/strong>with a series of webinars on sustainable financing, smart cities, sustainable management in property and transport sectors, the circular economy and energy technologies. Organized by the Clean Energy Business Council, speakers include officials from the UAE\u2019s energy and infrastructure ministry. You can view the agenda and <a href=\"https:\/\/www.env-news.com\/wp-content\/uploads\/2022\/10\/CEBC-ASW-Agenda-Presentation-1.pdf\">get get registration details here (pdf)<\/a>.<\/p>\n<p>The <strong><a href=\"https:\/\/era.dz\/\">International Exhibition of Renewable Energies Clean Energies and Sustainable<\/a><\/strong><strong><a href=\"https:\/\/era.dz\/\">Development<\/a><\/strong> will kick off today and run through Wednesday, 26 October in Oran, <strong>Algeria<\/strong>. The event will focus on the role of startups in the green transition and the bankability of renewable energy projects.<\/p>\n<p><strong>CIRCLE YOUR CALENDAR- <\/strong><\/p>\n<p><strong><a href=\"https:\/\/www.adipec.com\/\">ADIPEC<\/a><\/strong><strong> will run from 31 October to 1 November in Abu Dhabi, UAE. <\/strong>Some 40 ministers from around the world, including eight from MENA, will attend the event. Those include energy and oil ministers from the UAE, Kuwait, Bahrain and Egypt. Discussions will partly focus on the transition toward carbon neutrality, a statement picked up by Zawya <a href=\"http:\/\/zawya.com\/en\/press-release\/events-and-conferences\/over-40-global-ministers-to-speak-at-adipec-2022-e19ujpnf\">details<\/a>. You can register as an exhibitor <a href=\"https:\/\/www.adipec.com\/exhibition\/book-a-stand\/?utm_source=media-partner&utm_medium=email&utm_term=&utm_content=visitor-pass&utm_campaign=media-partner&actioncode=\">here<\/a>, and as an attendee <a href=\"https:\/\/www.adipec.com\/visit\/registration\/?utm_source=media-partner&utm_medium=email&utm_term=&utm_content=visitor-pass&utm_campaign=media-partner&actioncode=\">here<\/a>.<\/p>\n<p><strong>PSA-<\/strong> <strong>Deadline to express interest in Al Maktoum solar park\u2019s sixth phase extended to 1 <\/strong><strong>November: <\/strong>Developers have until 1 November to submit their expression of interest (EOI) for Dubai Electricity and Water Authority\u2019s (DEWA) sixth phase of the <a href=\"https:\/\/bit.ly\/3gyfe0e\">Al Maktoum solar park<\/a>, WAM <a href=\"https:\/\/www.wam.ae\/en\/details\/1395303093920\">reported<\/a> on Saturday. The AED 50 bn project \u2014 the world\u2019s largest single-site solar park \u2014 will be completed between 2025 and 2027 and will yield 900 MW from pv panels.<\/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>\n<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.<br \/>\n ***<\/p><\/p>\n\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                       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          <a href=\"https:\/\/enterpriseam.com\/climate\/2022\/10\/24\/morocco-is-competing-aggressively-for-investment-in-renewables\/\">\r\n                            Morocco is competing aggressively for investment in renewables                        <\/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\/24\/morocco-is-competing-aggressively-for-investment-in-renewables\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n       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href=\"https:\/\/api.whatsapp.com\/send?text=Morocco+is+competing+aggressively+for+investment+in+renewables+https%3A%2F%2Fenterpriseam.com%2Fclimate%2F2022%2F10%2F24%2Fmorocco-is-competing-aggressively-for-investment-in-renewables%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\/24\/morocco-is-competing-aggressively-for-investment-in-renewables\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/10\/3043.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"74456\" data-permalink=\"https:\/\/enterpriseam.com\/climate\/2022\/10\/24\/morocco-is-competing-aggressively-for-investment-in-renewables\/3043-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/10\/3043.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"3043.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/10\/3043.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/10\/3043.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-74455\" class=\"content-area-description single-story post-74455 post type-post status-publish format-standard has-post-thumbnail hentry category-investment-watch tag-adani-green tag-black-sands tag-eib tag-enterpriseclimate tag-germany tag-green-hydrogen tag-hassan-allam tag-investment-watch tag-morocco tag-orascom-investment-holding 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-01\"><\/a> <strong>Indian conglomerate <\/strong><strong><a href=\"https:\/\/www.adani.com\/\">Adani Group<\/a><\/strong><strong> may be investing in renewables projects <\/strong><strong>with a <\/strong><strong>10 GW capacity in Morocco to supply green ammonia to Europe<\/strong>, sources close to the matter told <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-10-21\/billionaire-adani-s-huge-morocco-energy-project-to-target-europe#xj4y7vzkg\">Bloomberg<\/a> on Friday. The project, which would be developed in two 5 GW phases, would be used to supply clean energy to a green ammonia plant that would target exports to Europe, sources added. The wind and solar plants would be Adani\u2019s largest clean energy project outside of India, and would more than triple Morocco\u2019s already installed renewables capacity of 2.8 GW, according to data from Bloomberg.<\/p>\n<p><strong>Adani has already started making moves on the ground: <\/strong>Adani is in talks with Morocco\u2019s state-owned phosphate producer <a href=\"https:\/\/www.ocpgroup.ma\/\">OCP Group<\/a> to produce carbon-less ammonia, other sources tell Bloomberg.<\/p>\n<p><strong>The group is also looking to raise USD 10 bn in low-cost debt and green bonds<\/strong>, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-10-21\/gautam-adani-s-group-mulls-raising-10-billion-in-lower-cost-debt-green-bonds#xj4y7vzkg\">Bloomberg reported<\/a> last week. Some USD 6 bn have already been marked for refinancing high-cost borrowings, while the remaining USD 4 bn will be allocated to new projects, in an effort to lower the group\u2019s burden of repayments, anonymous sources told the newswire.<\/p>\n<p><strong>GO DEEPER- What\u2019s the Adani Group? <\/strong>Adani Group is a USD 200 bn Indian multinational conglomerate with investments in port management, power generation and transmission, renewables, mining, airport operations, natural gas, food processing and infrastructure. The company\u2019s founder, Gautam Adani, is the richest person in Asia. Adani, whose company continues to invest in fossil fuels, wants to make his conglomerate a world leader in clean energy by 2030.<\/p>\n<p><strong>OTHERS HAVE THEIR EYES ON MOROCCO-<\/strong><\/p>\n<p><strong>Hassan Allam Holding is looking to invest USD 50-150 mn in renewable energy and <\/strong><strong>desalination plants<\/strong>, the company\u2019s CEO Amr Allam told <a href=\"https:\/\/www.asharqbusiness.com\/article\/43188\">Bloomberg Asharq<\/a> on the sidelines of the Choiseul Africa Business Forum.<\/p>\n<p><strong>Egypt\u2019s Orascom Investment Holding (OIH) is ready to invest up to USD 100 mn in <\/strong><strong>several of Morocco\u2019s green sub-sectors<\/strong> over \u201cthe coming years,\u201d CEO Naguib Sawiris told <a href=\"https:\/\/www.asharqbusiness.com\/article\/43120\">Bloomberg Asharq<\/a> on the sidelines of <a href=\"https:\/\/www.choiseul-africa.com\/choiseul-africa-business-forum-2022\/\">Choiseul Africa Business Forum<\/a> in Casablanca last week. These include electric vehicle (EV) charging stations and solar plants. Investing in EV charging stations \u201cis the future,\u201d given that Morocco is currently building an EV battery factory, Sawiris added.<\/p>\n<p><strong>Over in Europe, Germany provided Morocco with EUR 38 mn to its first green hydrogen <\/strong><strong>plant<\/strong>, the German Embassy in Morocco <a href=\"https:\/\/twitter.com\/GER_in_Morocco\/status\/1583507916765925376?s=20&t=qzCFj66ZRa37P5Rgtp2m3g\">tweeted last week<\/a> and the Federal Ministry of Economic Cooperation and Development <a href=\"https:\/\/www.bmz.de\/de\/aktuelles\/aktuelle-meldungen\/de-unterstuetzt-marokko-bei-ausweitung-der-sozialversicherung-125976\">reported<\/a> (German). No further details about the loan have been shared so far.<\/p>\n<p><strong>Meanwhile, Spanish renewables firms are on the prowl: <\/strong>The <a href=\"https:\/\/www.investinspain.org\/en\/index\">Spanish Institute for Foreign<\/a><a href=\"https:\/\/www.investinspain.org\/en\/index\">Trade (ICEX<\/a>) is leading a delegation of 10 Spanish renewable energy companies to Rabat on Tuesday, 25 October, ICEX <a href=\"https:\/\/bit.ly\/3EXH4gr\">said<\/a>last week. The event aims to establish links between the countries\u2019 private and public renewable energy players.<\/p>\n<hr class=\"grey-line\">\n<p><strong>BACKGROUND: THE INVESTMENT CASE-<\/strong><\/p>\n<p><strong>Europe is hungry for MENA-sourced green hydrogen: <\/strong>Europe\u2019s drive to source green energy has driven a gold rush in green hydrogen and ammonia investments \u2014 particularly in MENA. Some USD 180 bn worth of green hydrogen projects are in the region\u2019s pipeline, according to data from MEED <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/e9569d88-5e15-464f-a2f4-341bbb306057\">earlier this month<\/a>. Green hydrogen is a key ingredient of green ammonia.<\/p>\n<p><strong>Most recently, <\/strong><strong><a href=\"https:\/\/www.hassanallam.com\/\">Hassan Allam Holding<\/a><\/strong><strong> and UAE\u2019s <\/strong><strong><a href=\"https:\/\/masdar.ae\/\">Masdar<\/a><\/strong><strong> could invest USD 10 bn in 10 <\/strong><strong>years on their green hydrogen JV in Egypt<\/strong>, Hassan Allam Holding CEO Amr Allam said over the weekend, <a href=\"https:\/\/enterprise.press\/stories\/2022\/10\/23\/hassan-allam-oih-both-look-to-spend-big-for-a-foothold-in-regional-renewables-84734\/\">according to EnterpriseAM<\/a>. The companies aim to build green hydrogen plants in Egypt\u2019s Suez Canal Economic Zone (SCZone), <a href=\"https:\/\/enterprise.press\/stories\/2022\/04\/26\/egypt-signs-green-energy-agreements-70042\/\">producing up to<\/a> 480k tons of green hydrogen a year.<\/p>\n<p><strong>MOROCCO LEADS ON CLEAN ENERGY EXPORTS-<\/strong><\/p>\n<p><strong>Morocco continues to lead regionally on supplying Europe with clean energy: <\/strong>In addition to supplying Spain and Portugal with 1.4 GW of electricity through two interconnections, Morocco <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/52aefc63-82e3-42e3-8afc-960461fa5288\">plans to export<\/a> 3.6 GW of electricity to the UK from solar and wind energy projects with a combined capacity of 10.5 GW by 2030. <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/88c06542-4dba-4ffb-b556-e58994dafeb0\">We reported last week that<\/a>Morocco and the EU agreed to establish a \u201cgreen partnership\u201d that would see cooperation and \u201cinvestment in green technology, renewable energy production, sustainable mobility, and clean production in industry.\u201d<\/p>\n\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\/adani-green\/\">Adani Green<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/black-sands\/\">black sands<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/eib\/\">EIB<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/germany\/\">Germany<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\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\/hassan-allam\/\">Hassan Allam<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/investment-watch\/\">INVESTMENT WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/morocco\/\">Morocco<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/orascom-investment-holding\/\">Orascom Investment Holding<\/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=\"74457\" 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=\"74457\">\r\n            \r\n        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src=\"https:\/\/i0.wp.com\/ent.news\/2022\/10\/4532.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"74458\" data-permalink=\"https:\/\/enterpriseam.com\/climate\/2022\/10\/24\/and-while-were-on-green-hydrogen-investments\/4532-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/10\/4532.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"4532.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/10\/4532.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/10\/4532.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-74457\" class=\"content-area-description single-story post-74457 post type-post status-publish format-standard has-post-thumbnail hentry category-green-hydrogen tag-climate-policy tag-enterpriseclimate tag-green-hydrogen tag-hydrom tag-investment-watch tag-oman 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>SMART POLICY-<\/strong> <strong>Oman unveils ambitious green hydrogen strategy: <\/strong>Oman outlined a strategy to increase investment in green hydrogen to USD 140 bn by 2050 at the government\u2019s <a href=\"https:\/\/fm.gov.om\/the-future-of-green-energy\/\">Future of Green Energy<\/a> conference yesterday. This includes investment in 300 mn solar panels, 10k wind turbines, and 5.2k electrolyzers, and hydrogen storage, transport, and desalination.<\/p>\n<p><strong>The plan is ambitious: <\/strong>Oman is targeting annual production of 1-1.25 mn metric tonnes of green hydrogen by 2030, rising to 3.25-3.75 mn metric tonnes by 2040, and 7.5-8.5 mn metric tonnes by 2050.<\/p>\n<p><strong>It calls for investment (and exports) across the value chain: <\/strong>Projects are \u201cexpected to develop the full green hydrogen value chain,\u201d including renewable energy generation, green hydrogen production, derivatives conversion and offtake. Developers can choose to produce and export hydrogen, convert it to ammonia or methanol, or use it to power \u201chard-to-abate industries\u201d like steel or fertilizer production as part of their projects, said Al Shidhani.<\/p>\n<p><strong>What\u2019s being offered to investors? <\/strong>Projects will be able to run for up to 47 years, starting from the point of development and the awarding of land usage rights. During that time, investors will see land fee reductions of up to 100%. Investors will pay a land lease of USD 0.5 per sqm, along with base royalties of up to 5%.<\/p>\n<p><strong>The caveats:<\/strong> Gov\u2019t-owned <a href=\"https:\/\/oq.com\/en\/business-units\/alternative-energy\">OQ Alternative Energy<\/a> will have a 20% equity stake in all projects. Oman isn\u2019t committing to buyingany electricity produced by these projects or any connection to the grid, Hydrom notes. Companies will have to pay a corporate tax.<\/p>\n<p><strong>A one-stop shop for hydrogen projects: <\/strong>As part of the plan, Oman announced its tender process for hydrogen projects yesterday. It launched state-owned <a href=\"https:\/\/hydrom.om\/about-hydrom.html#identity\">Hydrogen Oman (Hydrom)<\/a> to manage all operations \u2014 including structuring and awarding projects, allocating land, developing infrastructure, overseeing project execution and stakeholder coordination.<\/p>\n<p><strong>Oman\u2019s energy and minerals ministry will regulate the sector,<\/strong> noted Abdulaziz Al Shidhani, director general of renewable energy and hydrogen.<\/p>\n<p><strong>Hydrom\u2019s first tender is going to be \u201caccelerated\u201d: <\/strong>Requests for qualifications for Hydrom\u2019s first tender will open on 6 November. Companies will have until January 2023 to submit their bids.<\/p>\n<p><strong>2023 will see six land blocks awarded to project developers:<\/strong> By the end of 1Q 2023, two blocks of land for project development will be awarded in Duqm, followed by an additional four blocks of land in Thumrait by the end of 4Q 2023.<\/p>\n<p><strong>REMEMBER- <\/strong>This is the latest policy move the sultanate has made this year to promote the development of its hydrogen industry. The country has been studying a hydrogen <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/69c3fe07-4bdf-4ab1-a900-a1caa0cdf119\">export terminal<\/a> and <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/4d4fe41a-d676-4add-8b29-08a581d184fe\">repurposing<\/a> its natgas infrastructure to transport hydrogen.<\/p>\n<p><strong>Not to mention its green hydrogen project pipeline:<\/strong> Oman has lined up a pipeline of projects worth around USD 48.9 bn \u2014 second only to Egypt in MENA, according to MEED\u2019s project tracker. Most notably:<\/p>\n<ul>\n<li>Saudi\u2019s <strong>ACWA Power <\/strong>and US-based <strong>Air Products<\/strong> teamed up with OQ on a \u201cmulti-bn USD\u201d green hydrogen <a href=\"https:\/\/www.acwapower.com\/news\/acwa-power-oq-and-air-products-sign-joint-development-agreement-toward-world-scale-green-hydrogen-based-ammonia-production-facility-in-oman\/\">project<\/a>in Oman\u2019s Salalah Freezone.<\/li>\n<li>OQ is also <a href=\"https:\/\/www.theguardian.com\/world\/2021\/may\/27\/oman-plans-to-build-worlds-largest-green-hydrogen-plant\">working<\/a>with Hong Kong\u2019s <strong>InterContinental Energy<\/strong> and Kuwait\u2019s <strong>EnerTech <\/strong>on a USD 30 bn facility which will be powered by 25 GW of wind and solar energy.<\/li>\n<li>India\u2019s <strong>ACME <\/strong>and Norway\u2019s <strong>Scatec <\/strong>are <a href=\"https:\/\/scatec.com\/2022\/03\/07\/scatec-partners-with-acme-group-to-develop-a-large-scale-green-ammonia-facility-in-oman\/#\">partnering<\/a> on a green ammonia plant that will produce 1.2 mn tons of ammonia powered by 3.5 GW of renewable energy.<\/li>\n<\/ul>\n\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\/climate-policy\/\">CLIMATE POLICY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\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\/hydrom\/\">Hydrom<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/investment-watch\/\">INVESTMENT WATCH<\/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                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"74459\" 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=\"74459\">\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\">ELECTRICITY<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/climate\/2022\/10\/24\/could-another-mena-sub-sea-cable-project-be-underway\/\">\r\n                            Could another MENA sub-sea cable project be underway?                        <\/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\/24\/could-another-mena-sub-sea-cable-project-be-underway\/\" 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\/24\/could-another-mena-sub-sea-cable-project-be-underway\/')\">\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\/24\/could-another-mena-sub-sea-cable-project-be-underway\/\">\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=Could another MENA sub-sea cable project be underway?&url=https:\/\/enterpriseam.com\/climate\/2022\/10\/24\/could-another-mena-sub-sea-cable-project-be-underway\/\">\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\/24\/could-another-mena-sub-sea-cable-project-be-underway\/&title=Could another MENA sub-sea cable project be underway?\">\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=Could+another+MENA+sub-sea+cable+project+be+underway%3F+https%3A%2F%2Fenterpriseam.com%2Fclimate%2F2022%2F10%2F24%2Fcould-another-mena-sub-sea-cable-project-be-underway%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\/24\/could-another-mena-sub-sea-cable-project-be-underway\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/10\/2961.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"74460\" data-permalink=\"https:\/\/enterpriseam.com\/climate\/2022\/10\/24\/could-another-mena-sub-sea-cable-project-be-underway\/2961-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/10\/2961.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2961.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/10\/2961.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/10\/2961.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-74459\" class=\"content-area-description single-story post-74459 post type-post status-publish format-standard has-post-thumbnail hentry category-electricity tag-egypt tag-electricity tag-enterpriseclimate tag-india tag-interconnection tag-morocco tag-saudi-arabia tag-sub-sea-cables 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-03\"><\/a> <strong>KSA and India eye possible renewable energy grid connection via sub-sea cable: <\/strong>KSA and India are said to be exploring the commercial viability of creating a linked renewable energy grid via sub-sea cable, according to <a href=\"https:\/\/economictimes.indiatimes.com\/news\/india\/saudi-india-seek-to-energise-ties-with-undersea-cables\/articleshow\/94998091.cms\">an article<\/a> published on Friday in India\u2019s Economic Times, citing sources close to the matter. The topic was slated to take center stage in discussions during KSA\u2019s energy minister Abdulaziz bin Salman visit to New Delhi last Friday ahead of Saudi Crown Prince Mohamed Bin Salman\u2019s visit to India next month.<\/p>\n<p><strong>A two-way power flow to address renewables intermittency: <\/strong>The project could see a cable run from India\u2019s Gujarat coast to the UAE\u2019s Fujairah (covering some 1.6k km), or even across Oman (covering some 1.2k km), the article notes. \u201cThe plan is to have bi-directional flow of power in 15-minute blocks,\u201d Economic Times quotes a power transmission company CEO saying. \u201cInterconnections will solve the intermittency issue associated with wind or solar energy.\u201d<\/p>\n<p><strong>It could cost USD 15-18 bn:<\/strong> The project\u2019s costs could go for USD 15-18 bn, Economic Times notes. But with no information given about its potential generation capacity, we don\u2019t know how these figures were calculated, while sources noted they \u201caren\u2019t final.\u201d A 3 GW sub-sea cable project alone would require capex of USD 5 bn \u2014 including the cost of cables and installation \u2014 the article notes industry experts saying.<\/p>\n<p><strong>KSA is said to be seeking industry buy-in:<\/strong> KSA\u2019s ambassador to India has reportedly invited Indian companies working in power generation and transmission \u2014 including Reliance Industries, Adani, Tata Group, JSW and Sterlite Power \u2014 to weigh in on the discussions, Economic Times notes.<\/p>\n<p><strong>Yet another sign that grid connection is gathering steam in MENA: <\/strong>Apart from the Morocco projects noted above, Egypt has been eyeing multiple power linkage projects, including the USD 4 bn, 2 GW <a href=\"https:\/\/enterprise.press\/stories\/2019\/05\/23\/egypt-signs-framework-agreement-with-cyprus-greece-power-linkage\/\">EuroAfrica Interconnector<\/a> with Greece and Cyprus, the EUR 3.5 bn 3 GW Greece-Egypt Interconnector (<a href=\"https:\/\/enterprise.press\/stories\/2022\/06\/01\/the-war-in-ukraine-is-accelerating-plans-to-link-our-electricity-grid-to-greece-72429\/\">GREGY<\/a>), and <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/8c0b43d9-331d-4cc8-b164-8133389418aa\">a possible<\/a> further 9.5 GW of renewable power for export to Greece.<\/p>\n\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\/electricity\/\">electricity<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/india\/\">India<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/interconnection\/\">interconnection<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/morocco\/\">Morocco<\/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\/sub-sea-cables\/\">sub-sea cables<\/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=\"74461\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"74462\" 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=\"74462\">\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\">DEBT WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/climate\/2022\/10\/24\/mena-has-more-green-bonds-in-its-pipelinethis-time-its-green-sukuk\/\">\r\n                            MENA has more green bonds in its pipeline\u2026this time, it\u2019s green sukuk                        <\/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 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it\u2019s green sukuk\">\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=MENA+has+more+green+bonds+in+its+pipeline%E2%80%A6this+time%2C+it%E2%80%99s+green+sukuk+https%3A%2F%2Fenterpriseam.com%2Fclimate%2F2022%2F10%2F24%2Fmena-has-more-green-bonds-in-its-pipelinethis-time-its-green-sukuk%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\/24\/mena-has-more-green-bonds-in-its-pipelinethis-time-its-green-sukuk\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/10\/886.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"74463\" data-permalink=\"https:\/\/enterpriseam.com\/climate\/2022\/10\/24\/mena-has-more-green-bonds-in-its-pipelinethis-time-its-green-sukuk\/886-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/10\/886.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"886.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/10\/886.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/10\/886.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-74462\" class=\"content-area-description single-story post-74462 post type-post status-publish format-standard has-post-thumbnail hentry category-debt-watch tag-debt-watch tag-dubai-islamic-bank tag-egypt tag-enterpriseclimate tag-green-bonds tag-green-finance 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>Dubai Islamic Bank (DIB) has set up a new green financing framework ahead of <\/strong><strong>issuing green and sustainable Shariah-compliant bonds (sukuk)<\/strong>, the bank said in <a href=\"https:\/\/www.dib.ae\/about-us\/news\/2022\/10\/21\/dubai-islamic-bank-publishes-its-sustainable-finance-framework\">a statement<\/a> on Friday. The bonds will be used to fund projects pertaining to renewable energy, energy efficiency, sustainable transport, green buildings and wastewater management.<\/p>\n<p><strong>DIB is the first Islamic bank in the UAE to set up this kind of green financing framework<\/strong>, the statement notes. The bank already has several sustainable financing initiatives in place, including a green auto offering for electric and hybrid vehicles, it says. Standard Chartered Bank supported DIB to develop the framework, the statement tells us.<\/p>\n<p><strong>The GCC specifically has been spearheading green bond issuances in the past few<\/strong> <strong>months: <\/strong>Saudi Arabia\u2019s sovereign wealth fund, the Public Investment Fund (PIF), <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/29128c1e-0d05-4a99-b8e2-f05247e4258d\">sold USD 3 bn in green bonds<\/a> earlier this month that was nearly 6x oversubscribed. Similarly, Abu Dhabi Commercial Bank (ADCB) <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/039de4e2-7078-4457-8904-11d3d4430560\">raised USD 500 mn<\/a> in a green bond sale in September \u2014 an issuance that was almost 4x oversubscribed, demonstrating strong investor demand in sustainable bonds.<\/p>\n<p><strong>AND- Egypt had kicked it all off back in 2020:<\/strong> Egypt pioneered the use of green bonds in MENA, taking the region\u2019s <a href=\"https:\/\/enterprise.press\/stories\/2020\/09\/30\/egypt-sells-usd-750-mn-of-sovereign-green-bonds-in-maiden-issuance-22640\/\">first sovereign green bond issuance<\/a> to market in 2020, raising USD 750 mn from investors to channel into green projects. Egyptian-headquartered bank CIB also issued Egypt\u2019s <a href=\"https:\/\/enterprise.press\/greeneconomys\/egypt-poised-ride-2021s-green-bond-wave\/\">first corporate green bond<\/a> in 2021, raising USD 100 mn in a five-year, fixed-rate offering.<\/p>\n<p><strong>And it plans to issue more: <\/strong>Egypt wants to roll out USD 500 mn in green bonds before the end of the fiscal year, which ends in July 2023, Egypt\u2019s Finance Minister Mohamed Maait <a href=\"https:\/\/bit.ly\/3eVSOpf\">told<\/a> Bloomberg Asharq on Thursday, reiterating previous <a href=\"https:\/\/enterprise.press\/stories\/2022\/05\/17\/this-morning-the-latest-from-greentech-new-green-susdev-bond-sales-coming-next-year-71228\/\">statements<\/a> from the ministry. But the issuance hinges on \u201cthe betterment of global economic conditions,\u201d he added.<\/p>\n\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\/dubai-islamic-bank\/\">Dubai Islamic Bank<\/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\/green-bonds\/\">green bonds<\/a>\n               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\n<article id=\"post-74464\" class=\"content-area-description single-story post-74464 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>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>29 October (Saturday): Deadline to <a href=\"https:\/\/irena.org\/irenayouthforum?_gl=1*urcde4*_ga*OTM1NTk0NDk0LjE2NjYyNzg4NzA.*_ga_7W6ZEF19K4*MTY2NjI3ODg2OS4xLjAuMTY2NjI3ODg2OS42MC4wLjA.\">apply<\/a> for <a href=\"https:\/\/www.irena.org\/events\/2023\/Jan\/The-New-Generation-of-Decision-Makers-IRENA-Youth-Forum\">The International Renewable Energy Agency\u2019s Youth Forum in Abu Dhabi, UAE.<\/a><\/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>Last week of October: Expected kick-off of UAE\u2019s Emirates Central Cooling Systems Corporation (<a href=\"https:\/\/www.empower.ae\/\">Empower<\/a>) IPO.<\/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>1 November (Tuesday) at 12:00 pm - <a href=\"https:\/\/bit.ly\/3F9Nmda\">Mohammed Bin Rashid Al Maktoum Solar Park<\/a> EOI submission deadline, UAE.<\/p>\n<p>15 November (Tuesday): <a href=\"https:\/\/www.hawkamah.org\/event\/5233\">Hawkamah Annual Conference (Building Investor Confidence Through Governance)<\/a>, Dubai, UAE.<\/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>7 November (Monday): Saudi Arabia\u2019s <a href=\"https:\/\/www.greeninitiatives.gov.sa\/ar-sa\/mgi-summit\/\">Middle East Green Initiative<\/a> event.<\/p>\n<p>11-12 November (Friday-Saturday): <a href=\"https:\/\/www.saudigreeninitiative.org\/ar\/events-2021\/saudi-green-initiative-forum\/\">Saudi Green Initative<\/a> event.<\/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>13 January (Friday): <a href=\"https:\/\/www.irena.org\/events\/2023\/Jan\/The-New-Generation-of-Decision-Makers-IRENA-Youth-Forum\">The International Renewable Energy Agency\u2019s Youth Forum, Abu Dhabi, UAE.<\/a><\/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>16-18 January (Monday-Wednesday): <a href=\"https:\/\/www.worldfutureenergysummit.com\/\">World Future Energy Summit<\/a>, Abu Dhabi National Exhibition Center (ADNEC), UAE.<\/p>\n<p>January 2023: Bid submission deadline for green hydrogen projects to <a href=\"https:\/\/hydrom.om\/tender.html\">Hydrogen Oman (Hydrom)<\/a>.<\/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>1Q2023: Oman will award two blocks of land for green hydrogen projects in Duqm, Oman.<\/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>4Q2023: Oman to award four blocks of land for green hydrogen projects in Thumrait, Oman.<\/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\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":74452,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-74451","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"5ba8b2cc-6946-4b73-b5f8-d58bb5fe83d2","teaser":"","photo_url":"https:\/\/ent.news\/2021\/2\/123.jpg"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 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