{"id":74602,"date":"2022-11-02T01:54:46","date_gmt":"2022-11-02T01:54:46","guid":{"rendered":"https:\/\/enterpriseam.com\/climate\/?post_type=issue&#038;p=74602"},"modified":"2025-12-15T08:05:21","modified_gmt":"2025-12-15T08:05:21","slug":"acwa-power-could-build-the-worlds-second-largest-wind-farm-in-egypt","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/climate\/issues\/acwa-power-could-build-the-worlds-second-largest-wind-farm-in-egypt\/","title":{"rendered":"ACWA Power could build the world\u2019s second-largest wind farm in Egypt"},"content":{"rendered":"<section id=\"74604\" 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=\"74604\">\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\/11\/02\/today-uae-signs-usd-100-bn-green-financing-agreement-with-us-climate-finance-will-be-the-star-of-the-cop27-show\/\">\r\n                            TODAY: UAE signs USD 100 bn green financing agreement with US + Climate finance will be the star of the COP27 show                        <\/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\/11\/02\/today-uae-signs-usd-100-bn-green-financing-agreement-with-us-climate-finance-will-be-the-star-of-the-cop27-show\/\" 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\/11\/02\/today-uae-signs-usd-100-bn-green-financing-agreement-with-us-climate-finance-will-be-the-star-of-the-cop27-show\/')\">\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\/11\/02\/today-uae-signs-usd-100-bn-green-financing-agreement-with-us-climate-finance-will-be-the-star-of-the-cop27-show\/\">\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: UAE signs USD 100 bn green financing agreement with US + Climate finance will be the star of the COP27 show&url=https:\/\/enterpriseam.com\/climate\/2022\/11\/02\/today-uae-signs-usd-100-bn-green-financing-agreement-with-us-climate-finance-will-be-the-star-of-the-cop27-show\/\">\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\/11\/02\/today-uae-signs-usd-100-bn-green-financing-agreement-with-us-climate-finance-will-be-the-star-of-the-cop27-show\/&title=TODAY: UAE signs USD 100 bn green financing agreement with US + Climate finance will be the star of the COP27 show\">\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+UAE+signs+USD+100+bn+green+financing+agreement+with+US+%2B+Climate+finance+will+be+the+star+of+the+COP27+show+https%3A%2F%2Fenterpriseam.com%2Fclimate%2F2022%2F11%2F02%2Ftoday-uae-signs-usd-100-bn-green-financing-agreement-with-us-climate-finance-will-be-the-star-of-the-cop27-show%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\/11\/02\/today-uae-signs-usd-100-bn-green-financing-agreement-with-us-climate-finance-will-be-the-star-of-the-cop27-show\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-74604\" class=\"content-area-description single-story post-74604 post type-post status-publish format-standard hentry category-what-were-tracking-today tag-africa tag-ammonia tag-cop27 tag-decarbonization tag-egypt tag-enterpriseclimate tag-fossil-fuels tag-green-finance tag-qatar tag-renewables tag-uae tag-us tag-what-were-tracking-today 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>It\u2019s another relatively busy day for our neck of the woods as COP27 grows inexorably nearer.<\/p>\n<p><strong>THE BIG CLIMATE STORY- <\/strong>The UAE is already gearing up for COP28 \u2014 which it is set to host next year \u2014 with the signing of a USD 100 bn partnership agreement with the US to ramp up green financing in the two countries and roll out clean energy projects in underfunded emerging economies.<\/p>\n<p><strong>It\u2019s also a big news day for Egypt<\/strong>, with news on what could be come among the world\u2019s largest wind farms, fresh investment in green ammonia, and the latest in the country\u2019s<\/p>\n<hr class=\"grey-line\">\n<p><strong>THE COUNTDOWN TO COP (4 days to go)- <\/strong><\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-06\"><\/a> <strong>Egypt is championing climate financing for Africa and emerging economies <\/strong><strong>at<\/strong> <strong>COP27 \u2014 with an emphasis on loss and damage<\/strong>, Egypt\u2019s COP27 lead negotiator Mohamed Nasr said during a webinar organized by <a href=\"https:\/\/english.ahram.org.eg\/News\/478754.aspx\">Al Ahram<\/a>. The continent is particularly vulnerable to climate change, but has been passed over by climate investment over the past decade, attracting only 2% of global investment in renewable energy despite its massive solar potential, Nasr said. African governments are spending up to 5% of their GDPs on adaptation, Nasr said, citing data from the <a href=\"https:\/\/www.uneca.org\/\">Economic Commission for Africa<\/a> and the <a href=\"https:\/\/au.int\/\">African Union<\/a>. The remedy? Egypt is spearhead talks about loss and damage and what, exactly, constitutes adequate climate financing for African nations.<\/p>\n<p><strong>Climate financing has emerged as one of the key issues of COP27: <\/strong>The developing world\u2019s frustration with rich-country climate policies that have so far failed to provide financial compensation for climate-change-driven loss and damage <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/9c38c6f3-9328-49d0-83b2-330b482a1066\">is expected<\/a> to prompt a showdown over climate finance, with the issue of economic compensation having <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/a6f7312b-72d2-48ff-a146-fdb1cbad3579\">gained fresh urgency<\/a> after this year\u2019s catastrophic floods in Pakistan (which displaced >30 mn people).<\/p>\n<p><strong>Who\u2019s talking about it? <\/strong>A chorus of prominent voices, including UN Climate Champion <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/95e5d7e3-db69-4e6e-a81c-d28c4eef1ec6\">Mahmoud Mohieldin<\/a> and the IFC\u2019s VP of cross-cutting solutions <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/5e8d0ca6-bf58-4d58-a836-e87342c5414e\">Emmanuel Nyirinkindi<\/a>, both of whom spoke with us at length about the issue. They\u2019re determined to keep the conference focused on <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/a6f7312b-72d2-48ff-a146-fdb1cbad3579\">securing sustainable<\/a>, long-term financing for emerging economies struggling with the effects of climate change.<\/p>\n<p><strong>GO DEEPER- <\/strong><a href=\"https:\/\/www.chathamhouse.org\/2022\/08\/what-loss-and-damage\">Chatham House<\/a> and the <a href=\"https:\/\/www.lse.ac.uk\/granthaminstitute\/explainers\/what-is-climate-change-loss-and-damage\">London School of Economics<\/a> have good primer on climate loss and damage<\/p>\n<p><strong>Our friends at the UAE\u2019s <\/strong><strong><a href=\"https:\/\/www.mashreqbank.com\/en\/uae\/personal\/\">Mashreq Bank<\/a><\/strong><strong> is now a sponsor of COP27<\/strong>, after the bank signed an MoU with Egypt\u2019s COP Presidency, according to <a href=\"https:\/\/ent.news\/2022\/11\/Mashreq_COP27-Sponsorship-MOU_EN.pdf\">a statement (pdf)<\/a>. Mashreq will take part in panel discussions on <strong>Finance Day<\/strong> (9 November) and <strong>Energy Day<\/strong> (15 November). It will also hold separate discussions with customers and partners on the ground to provide guidance and advice for those exploring sustainable financing, the statement adds. The bank has facilitated the provision of some USD 11.7 bn in sustainable finance across the GCC, Africa, Turkey and India in the past two years, according to the statement.<\/p>\n<p><strong>What they said: <\/strong>Group CEO Ahmed Abdelaal noted that beyond the clear need to \u201cprotect people and planet,\u201d Mashreq sees \u201cthe transition to a low carbon and resilient economy as a real opportunity to double our commitment to sustainable finance and invest in sectors that will drive economic growth and create the jobs of tomorrow.\u201d<\/p>\n<p><strong>We couldn\u2019t agree more: <\/strong>Whether we\u2019re Gen Z, Millennials or Gen X, climate has emerged as the largest and most important industries of our generations.<\/p>\n<p><strong>KEY COP DATES-<\/strong><\/p>\n<ul>\n<li>World leaders\u2019 summit: 7-8 November (more details <a href=\"https:\/\/bit.ly\/3Nm4VbG\">here<\/a>)<\/li>\n<li>Finance day: 9 November<\/li>\n<li>Decarbonization day: 11 November<\/li>\n<li>Adaptation and agriculture day: 12 November<\/li>\n<li>Water day: 14 November<\/li>\n<li>Energy day: 15 November<\/li>\n<\/ul>\n<p><strong>Detailed schedule: <\/strong><a href=\"https:\/\/cop27.eg\/assets\/files\/COP27-PRESIDENCY-VISION-THEMATIC-DAYS-FULL-PROGRAM-New.pdf\">Download as a pdf here<\/a> or check out <a href=\"https:\/\/bit.ly\/3Nm4VbG\">the website here<\/a>. <strong>COP27 app for attendees:<\/strong> <a href=\"https:\/\/apps.apple.com\/gb\/app\/cop27\/id1632885226\">App Store<\/a> and the <a href=\"https:\/\/play.google.com\/store\/apps\/details?id=com.mcit.cop27\">Google Play Store<\/a>.<\/p>\n<p><strong>STILL FEEL LIKE YOU NEED A PRIMER ON COP27? <\/strong>The UN has a surprisingly good rundown <a href=\"https:\/\/news.un.org\/en\/story\/2022\/10\/1129947\">here<\/a>.<\/p>\n<hr class=\"grey-line\">\n<p><strong>HAPPENING TODAY- In Abu Dhabi:<\/strong> Day three of Adipec kicks off, gathering some 40 ministers from around the world including the UAE, Kuwait, Bahrain, and Egypt. Discussions will partly focus on the transition toward carbon neutrality. Hosted by Adnoc, Adipec bills itself as \u201cthe world's most influential gathering for energy industry professionals.\u201d The event will wrap tomorrow. <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=\">Tap or click here to register<\/a>.<\/p>\n<p><strong>THE GREAT DEBATE- <\/strong><\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-07\"><\/a> <strong>Africa defends the use of fossil fuels:<\/strong> Africa needs to tap into its natgas reserves for development and industrialization, <a href=\"https:\/\/www.reuters.com\/business\/energy\/africa-must-use-its-gas-reserves-drive-economy-industry-officials-say-2022-11-01\/\">Reuters<\/a> reported some industry leaders saying yesterday at Adipec. Renewable energy growth is poised to be substantial but insufficient to meet the continent\u2019s needs, they argued. \u201cThere\u2019s a sense in which it is an unjust transition for Africa,\u201d International Energy Forum Secretary General Joseph McMonigle said.<\/p>\n<p><strong>Case in point: The Democratic Republic of the Congo (DRC) defended <\/strong><strong><a href=\"https:\/\/www.theguardian.com\/environment\/2022\/jul\/23\/democratic-republic-of-congo-auction-oil-gas-permits-endangered-gorilla-habitat-aoe\">a July auction of<\/a><\/strong><strong><a href=\"https:\/\/www.theguardian.com\/environment\/2022\/jul\/23\/democratic-republic-of-congo-auction-oil-gas-permits-endangered-gorilla-habitat-aoe\">oil and gas permits<\/a><\/strong> in parts of the Congo basin rainforest, <a href=\"https:\/\/www.theguardian.com\/environment\/2022\/nov\/01\/democratic-republic-of-congo-attacks-west-double-standards-over-oil-and-gas-exploration-aoe\">the Guardian<\/a> reported yesterday. Conservationists aim to halt the exploration, but DRC officials maintain it\u2019s vital for the country\u2019s economic development and slammed developed countries \u2014 including the US, UK and Norway \u2014 for urging the DRC to stop fossil fuel exploration while continuing to do it themselves.<\/p>\n<p><strong>THE BIG CLIMATE STORY OUTSIDE THE REGION- <\/strong><\/p>\n<p><strong>Brazil\u2019s da Silva puts climate <\/strong><strong>action<\/strong><strong> back in the center stage, reversing the Bolsonaro<\/strong><strong> era:<\/strong> Brazilian President Luiz In\u00e1cio Lula da Silva made climate a key cornerstone in his re-election campaign, promising that Brazil would \u201cresume its leading role in the fight against the climate crisis.\u201d Da Silva has called for saving tropical rainforests to be a priority at COP27 and wants wealthy countries to increase <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/2240c3ca-9785-46e1-9f35-832d5bdf53cc\">climate financing to protect forests<\/a>. His policy team is especially focused on building a global carbon market and financing rainforest conservation. Deforestation fell by more than 80% during da Silva\u2019s previous stint as president between 2003 and 2010.<\/p>\n<p><strong>The renewed climate commitment comes after the Amazon saw its worst wildfires in<\/strong><strong> 12 years this year<\/strong>, in what was the worst August for the rainforest in over a decade, <a href=\"https:\/\/www.reuters.com\/business\/environment\/brazils-amazon-sees-worst-august-fires-over-decade-2022-08-31\/\">Reuters<\/a> reported previously. Brazil lost more than 12k square miles (almost 200k square km) of the Amazon under Jair Bolsonaro. In addition to cutting funding for environmental protection agencies, encouraging illegal mining, and making it easy to ignore environmental fines, Bolsonaro is a longtime supporter of logging, mining and cattle.<\/p>\n<p><strong>The story is getting wide pickup this morning in the international press:<\/strong> <a href=\"https:\/\/www.reuters.com\/world\/americas\/lula-cheered-new-climate-policies-after-brazil-election-2022-10-31\/\">Reuters<\/a> | <a href=\"https:\/\/www.washingtonpost.com\/world\/2022\/10\/31\/lula-brazil-amazon\/\">Washington Post<\/a> | <a href=\"https:\/\/www.nytimes.com\/2022\/10\/31\/climate\/brazil-election-lula-bolsonaro-climate.html\">New York Times<\/a><\/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>CIRCLE YOUR CALENDAR- <\/strong><\/p>\n<p><strong>The <\/strong><strong><a href=\"https:\/\/www.hawkamah.org\/event\/5233\">Hawkamah Annual Conference (Building Investor Confidence Through Governance)<\/a><\/strong> will kick off on Tuesday, 15 November in <strong>Dubai<\/strong>. The conference will address governance from the perspective of investors including expectations and interaction with boards as well as the role of regulators and companies in preparing for IPOs to attract the right investors.<\/p>\n<p><strong>Saudi Arabia\u2019s Education Ministry will host the <\/strong><strong><a href=\"https:\/\/www.facebook.com\/moegov.sa\/posts\/pfbid0HSxtqnTELrfrK4xaL84pnTsP9w4mjPCiPdAH2LA81efe7UXPbvjX64zynsc4zBnUl\">Global Conference on Sustainable<\/a><\/strong><strong><a href=\"https:\/\/www.facebook.com\/moegov.sa\/posts\/pfbid0HSxtqnTELrfrK4xaL84pnTsP9w4mjPCiPdAH2LA81efe7UXPbvjX64zynsc4zBnUl\">Partnerships<\/a><\/strong> on Wednesday, 23 November to Thursday, 24 November in Riyadh, bringing together ministers and senior officials from the private and public sectors. The conference will focus on transforming innovations and scientific research to achieve integration between universities, research, development and the innovation sector.<\/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\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\/africa\/\">Africa<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/ammonia\/\">AMMONIA<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a 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href=\"https:\/\/enterpriseam.com\/climate\/tag\/qatar\/\">Qatar<\/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\/uae\/\">UAE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/us\/\">US<\/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                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    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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=\"74606\" 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=\"74606\">\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\">CLIMATE DIPLOMACY<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/climate\/2022\/11\/02\/uae-and-us-agree-to-pour-usd-100-bn-into-green-financing\/\">\r\n                            UAE and US agree to pour USD 100 bn into green financing                        <\/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\/11\/02\/uae-and-us-agree-to-pour-usd-100-bn-into-green-financing\/\" 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\/11\/02\/uae-and-us-agree-to-pour-usd-100-bn-into-green-financing\/')\">\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\/11\/02\/uae-and-us-agree-to-pour-usd-100-bn-into-green-financing\/\">\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=UAE and US agree to pour USD 100 bn into green financing&url=https:\/\/enterpriseam.com\/climate\/2022\/11\/02\/uae-and-us-agree-to-pour-usd-100-bn-into-green-financing\/\">\n                    X                    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data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"7044.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/7044.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/7044.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-74606\" class=\"content-area-description single-story post-74606 post type-post status-publish format-standard has-post-thumbnail hentry category-climate-diplomacy tag-climate-diplomacy tag-cop28 tag-enterpriseclimate tag-partnership-to-accelerate-transition-to-clean-energy tag-uae tag-usa 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>UAE and US enter <\/strong><strong>USD 100 bn<\/strong><strong> agreement ahead of COP28:<\/strong> The US and the UAE have inked a USD 100 bn agreement the two are dubbing \u201cPACE\u201d (partnership to accelerate transition to clean energy). The pact aims to to boost green financing in both countries, according to a <a href=\"https:\/\/www.whitehouse.gov\/briefing-room\/statements-releases\/2022\/11\/01\/statement-by-white-house-press-secretary-karine-jean-pierre-on-the-u-s-uae-partnership-to-accelerate-transition-to-clean-energy-pace\/\">White House statement<\/a>, and channel investment and \u201cother support\u201d to emerging economies. The goal is to scale drive the rollout of low-carbon energy with an eye to seeing an additional 100 GW of clean energy generation capacity built around the world by 2035.<\/p>\n<p><strong>What are the focus areas? <\/strong>PACE will \u201calso invest in the management of harmful emissions like carbon and methane, the development of advanced nuclear technology, and the decarbonization of the industrial and transportation sectors,\u201d the statement said. UAE state news agency <a href=\"http:\/\/wam.ae\/en\/details\/1395303096934\">WAM<\/a> has more.<\/p>\n<p><strong>We think the focus on nuclear is spot on: <\/strong>Nuclear power absolutely has a role to play in our future energy mix, <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/ced34c8b-82c9-49d9-862f-d15547ae793d\">as we discussed last month<\/a>.<\/p>\n<p><strong>PACE pillars: <\/strong>In a bid to move away from fossil fuels and ease the transition to clean energy, the partnership is built on four pillars of clean energy innovation along with deployment and supply chains, carbon and methane management, nuclear energy, and industrial and transport decarbonization, according to a <a href=\"https:\/\/www.whitehouse.gov\/briefing-room\/statements-releases\/2022\/11\/01\/fact-sheet-u-s-uae-partnership-to-accelerate-transition-to-clean-energy-pace\/#:~:text=The%20U.S.%2DUAE%20Partnership%20for,transition%20and%20maximize%20climate%20benefits.\">fact sheet<\/a> released by the White House.<\/p>\n<p><strong>Supporting new climate tech: <\/strong>The partnership will support investment in the extraction, production and processing of energy transition materials. Carbon sequestration and support for advanced nuclear energy is also on the cards, particularly for heavy industry and heavy-duty transport, as well as upscaling clean fuel production for long-distance transport.<\/p>\n<p><strong>Looking ahead to COP28: <\/strong>The partnership announcement comes less than a month after the UAE said <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/9e9b71cd-fc8b-4458-92d4-cf664402d48d\">next year\u2019s gathering<\/a> will be \u201cthe most significant climate conference since Paris.\u201d We spoke with UAE Climate Change and Environment Minister Mariam Almheiri about the country\u2019s preparations for COP28 in our <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/a9c832ed-f423-479e-884d-90cabefe3a0b\">first issue of Enterprise Climate<\/a>.<\/p>\n<p><strong>Global media coverage: <\/strong>PACE is getting ink everywhere from The National in the UAE to <a href=\"https:\/\/www.cnbc.com\/2022\/11\/01\/us-and-uae-sign-strategic-partnership-deal-to-spur-100-billion-in-clean-energy-investment-.html\">CNBC<\/a> in the United States.<\/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\/climate-diplomacy\/\">CLIMATE DIPLOMACY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/cop28\/\">COP28<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/partnership-to-accelerate-transition-to-clean-energy\/\">Partnership to Accelerate Transition to Clean Energy<\/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\/usa\/\">USA<\/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=\"74608\" 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=\"74608\">\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\">ENERGY<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/climate\/2022\/11\/02\/egypt-could-become-home-to-one-of-the-worlds-largest-wind-farms\/\">\r\n                            Egypt could become home to one of the world\u2019s largest wind farms                        <\/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\/11\/02\/egypt-could-become-home-to-one-of-the-worlds-largest-wind-farms\/\" 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\/11\/02\/egypt-could-become-home-to-one-of-the-worlds-largest-wind-farms\/')\">\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\/11\/02\/egypt-could-become-home-to-one-of-the-worlds-largest-wind-farms\/\">\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=Egypt could become home to one of the world\u2019s largest wind farms&url=https:\/\/enterpriseam.com\/climate\/2022\/11\/02\/egypt-could-become-home-to-one-of-the-worlds-largest-wind-farms\/\">\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\/11\/02\/egypt-could-become-home-to-one-of-the-worlds-largest-wind-farms\/&title=Egypt could become home to one of the world\u2019s largest wind farms\">\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=Egypt+could+become+home+to+one+of+the+world%E2%80%99s+largest+wind+farms+https%3A%2F%2Fenterpriseam.com%2Fclimate%2F2022%2F11%2F02%2Fegypt-could-become-home-to-one-of-the-worlds-largest-wind-farms%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\/11\/02\/egypt-could-become-home-to-one-of-the-worlds-largest-wind-farms\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/11\/660.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"74609\" data-permalink=\"https:\/\/enterpriseam.com\/climate\/2022\/11\/02\/egypt-could-become-home-to-one-of-the-worlds-largest-wind-farms\/660-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/11\/660.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"660.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/11\/660.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/11\/660.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-74608\" class=\"content-area-description single-story post-74608 post type-post status-publish format-standard has-post-thumbnail hentry category-energy tag-acwa-power tag-energy tag-enterpriseclimate tag-renewables tag-saudi-arabia 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-09\"><\/a> <strong>Tadawul-listed <\/strong><strong>ACWA Power could build one of the world\u2019s largest wind <\/strong><strong>farms in Egypt <\/strong>as the Saudi renewable energy developer looks to build a 10-GW wind farm in Egypt after signing an MoU with Egypt\u2019s New and Renewable Energy Authority (NREA) and the Egyptian Electricity Transmission Company (EETC) yesterday, the Saudi Energy Ministry said in <a href=\"https:\/\/bit.ly\/3fq1Afn\">a statement<\/a> yesterday. The MoU was signed during a meeting in Riyadh between Electricity Minister Mohamed Shaker and Saudi Energy Minister Prince Abdulaziz bin Salman.<\/p>\n<p><strong>The ACWA plant would be the second-largest wind farm in the world<\/strong> after the Gansu project in China, which has a planned capacity of 20 GW. For comparison, India\u2019s largest wind farm \u2060\u2014 Jaisalmer \u2060\u2014 has a capacity of 1.6 GW while the 1.55 GW Alta Wind Energy Center in California is the biggest in the US. Egypt\u2019s largest wind farm is the <a href=\"http:\/\/www.nrea.gov.eg\/Technology\/WindStations\">545-MW facility in Zafarana<\/a>.<\/p>\n<p><strong>What\u2019s next:<\/strong> Egypt will provide land to conduct feasibility studies for the project ahead of the signing of final contracts, the statement said.<\/p>\n<p><strong>Two days, two wind farms:<\/strong> The news out of Saudi comes a day after Orascom Construction announced it <a href=\"https:\/\/enterprise.press\/stories\/2022\/11\/01\/oc-breaks-ground-on-ras-ghareb-wind-farm-suez-cement-adds-more-solar-to-its-energy-mix-85774\/\">had broken ground<\/a> on the 500-MW Ras Ghareb wind farm it\u2019s working on alongside Engie and Toyota Tsusho.<\/p>\n<p><strong>This isn\u2019t the only large-scale wind project ACWA is looking at in Egypt:<\/strong> ACWA and Hassan Allam <a href=\"https:\/\/enterprise.press\/stories\/2022\/06\/22\/usd-8-bn-from-ksa-and-much-morepossibly-usd-30-bn-more-74411\/\">signed in June<\/a> a 25-year power purchase agreement with the EETC to develop a 1.1 GW wind farm in the Gulf of Suez. The USD 1.5 bn project is expected to reach financial close by 4Q 2024 and begin commercial operations by the end of 2026.<\/p>\n<p><strong>Egypt has set itself an ambitious renewable energy target:<\/strong> Egypt is aiming to produce <a href=\"https:\/\/enterprise.press\/stories\/2021\/11\/07\/egypt-lays-out-2030-renewable-energy-targets-57430\/\">42%<\/a><a href=\"https:\/\/enterprise.press\/stories\/2021\/11\/07\/egypt-lays-out-2030-renewable-energy-targets-57430\/\"><\/a><a href=\"https:\/\/enterprise.press\/stories\/2021\/11\/07\/egypt-lays-out-2030-renewable-energy-targets-57430\/\">of its energy<\/a> from renewable sources by 2030, a target announced during last year\u2019s COP26 summit. This is five years earlier than its previous target.<\/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\/acwa-power\/\">ACWA Power<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/energy\/\">energy<\/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\/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=\"74610\" 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=\"74610\">\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\">INVESTMENT WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/climate\/2022\/11\/02\/egypt-could-see-more-green-ammonia-production-courtesy-of-qatar\/\">\r\n                            Egypt could see more green ammonia production, courtesy of Qatar                        <\/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\/11\/02\/egypt-could-see-more-green-ammonia-production-courtesy-of-qatar\/\" 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\/11\/02\/egypt-could-see-more-green-ammonia-production-courtesy-of-qatar\/')\">\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\/11\/02\/egypt-could-see-more-green-ammonia-production-courtesy-of-qatar\/\">\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=Egypt could see more green ammonia production, courtesy of Qatar&url=https:\/\/enterpriseam.com\/climate\/2022\/11\/02\/egypt-could-see-more-green-ammonia-production-courtesy-of-qatar\/\">\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\/11\/02\/egypt-could-see-more-green-ammonia-production-courtesy-of-qatar\/&title=Egypt could see more green ammonia production, courtesy of Qatar\">\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=Egypt+could+see+more+green+ammonia+production%2C+courtesy+of+Qatar+https%3A%2F%2Fenterpriseam.com%2Fclimate%2F2022%2F11%2F02%2Fegypt-could-see-more-green-ammonia-production-courtesy-of-qatar%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\/11\/02\/egypt-could-see-more-green-ammonia-production-courtesy-of-qatar\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/11\/606.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"74611\" data-permalink=\"https:\/\/enterpriseam.com\/climate\/2022\/11\/02\/egypt-could-see-more-green-ammonia-production-courtesy-of-qatar\/606-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/11\/606.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"606.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/11\/606.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/11\/606.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-74610\" class=\"content-area-description single-story post-74610 post type-post status-publish format-standard has-post-thumbnail hentry category-investment-watch tag-enterpriseclimate tag-green-ammonia tag-investment-watch tag-qatar-investment-authority tag-sovereign-fund-of-egypt 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>Qatar eyes USD 1 bn green ammonia plant in Egypt\u2019s SCZone: <\/strong>The Qatar Investment Authority (QIA) is reportedly mulling an investment of over USD 1 bn to establish a new green ammonia plant in Egypt\u2019s Suez Canal Economic Zone (SCZone), the newspaper <a href=\"https:\/\/www.alborsaanews.com\/2022\/10\/31\/1592958\">Al Borsa<\/a> reports, citing sources it says have knowledge of the matter.<\/p>\n<p><strong>In detail: <\/strong>The project will produce green hydrogen, some of which will go towards the production of green ammonia to be sold as ship fuel, with the aim to start exporting at a later stage. No specific time frame was given for getting the project off the ground, but initial investments could be imminent, the sources are quoted as saying.<\/p>\n<p><strong>Talks may have materialized during El Sisi\u2019s Qatar visit last month:<\/strong> The project specs were agreed on during discussions between QatarEnergy and the Sovereign Fund of Egypt on the sidelines of Egyptian President Abdel Fattah El Sisi\u2019s <a href=\"https:\/\/enterprise.press\/stories\/2022\/09\/13\/this-evening-fra-issues-amended-regulations-to-make-it-easier-for-companies-to-meet-listing-and-ipo-requirements-el-sisi-is-in-doha-81064\/\">visit to Doha<\/a> in September, Al Borsa quoted the unnamed sources as saying.<\/p>\n<p><strong>Egypt currently leads the pack of MENA economies in green hydrogen and ammonia<\/strong> <strong>production \u2014 while Qatar trails behind: <\/strong>Egypt <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/e9569d88-5e15-464f-a2f4-341bbb306057\">leads the pack<\/a> in MENA in terms of the value of green hydrogen projects, with some USD 63.8 bn \u2014 just over 35% of the USD 180 bn regional total \u2014 according to data from Middle East Business Intelligence picked up in early October. Qatar ranked last, along with Kuwait, with USD 15 mn each. Qatar\u2019s focus has instead been on blue ammonia, with the country\u2019s state-owned petroleum company <a href=\"https:\/\/www.qatarenergy.qa\/en\/Pages\/Home.aspx\">QatarEnergy\u2019s<\/a> renewables arm <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/77469f6c-f938-4a97-8cac-3146b39b6cbe\">sign<\/a><a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/77469f6c-f938-4a97-8cac-3146b39b6cbe\">ing agreements<\/a> in early September to build the world\u2019s largest blue ammonia plant, at a cost of USD 1 bn.<\/p>\n<p><strong>Qatar\u2019s sovereign wealth fund has been <\/strong><strong>eyeing investment<\/strong><strong> in Egypt in recent months<\/strong><strong>:<\/strong> Egypt and Qatar have been in talks for weeks over potential investments from <a href=\"https:\/\/enterprise.press\/stories\/2022\/06\/08\/qatari-companies-are-looking-to-pour-investments-into-egypt-73100\/\">Qatari firms<\/a> and the <a href=\"https:\/\/enterprise.press\/stories\/2022\/08\/14\/this-morning-negm-rules-out-near-term-egp-devaluation-is-qatars-wealth-fund-about-to-follow-adq-pif-into-the-egx-77810\/\">QIA,<\/a> but nothing has yet been officially announced. QIA\u2019s Maha Capital <a href=\"https:\/\/enterprise.press\/stories\/2022\/10\/23\/qatars-sovereign-fund-is-taking-a-closer-look-at-damietta-port-84735\/\">recently paid<\/a> a visit to the Damietta Port, shortly after <a href=\"https:\/\/enterprise.press\/stories\/2022\/09\/19\/qatar-eyes-investment-in-egypts-container-terminals-81460\/\">inking an MoU<\/a> to explore port investments with Egypt\u2019s Transport Ministry. The two countries have also <a href=\"https:\/\/enterprise.press\/stories\/2022\/10\/26\/cairo-hosted-gas-forum-concerned-about-europes-price-cap-a-whole-lot-of-regional-energy-diplomacy-85125\/\">held talks<\/a> about joint investments in oil and gas and in <a href=\"https:\/\/enterprise.press\/stories\/2022\/10\/20\/qatar-could-soon-invest-up-to-usd-2-5-bn-in-state-held-firms-84591\/\">local listed firms<\/a>. Qatar has pledged to <a href=\"https:\/\/enterprise.press\/stories\/2022\/03\/30\/qatar-to-invest-usd-5-bn-in-egypt-cemex-harmony-gold-to-invest-more-here-67923\/\">invest USD 5 bn in Egypt<\/a>, joining Saudi Arabia and the UAE to help shield the country from the fallout from the war in Ukraine.<\/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\/green-ammonia\/\">GREEN AMMONIA<\/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\/qatar-investment-authority\/\">Qatar Investment Authority<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/sovereign-fund-of-egypt\/\">Sovereign Fund of Egypt<\/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=\"74612\" 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=\"74612\">\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\/11\/02\/ebrd-finances-usd-45-mn-worth-of-wind-power-in-turkey\/\">\r\n                            EBRD finances USD 45 mn worth of wind power in Turkey                        <\/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\/11\/02\/ebrd-finances-usd-45-mn-worth-of-wind-power-in-turkey\/\" 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\/11\/02\/ebrd-finances-usd-45-mn-worth-of-wind-power-in-turkey\/')\">\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\/11\/02\/ebrd-finances-usd-45-mn-worth-of-wind-power-in-turkey\/\">\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=EBRD finances USD 45 mn worth of wind power in Turkey&url=https:\/\/enterpriseam.com\/climate\/2022\/11\/02\/ebrd-finances-usd-45-mn-worth-of-wind-power-in-turkey\/\">\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\/11\/02\/ebrd-finances-usd-45-mn-worth-of-wind-power-in-turkey\/&title=EBRD finances USD 45 mn worth of wind power in Turkey\">\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=EBRD+finances+USD+45+mn+worth+of+wind+power+in+Turkey+https%3A%2F%2Fenterpriseam.com%2Fclimate%2F2022%2F11%2F02%2Febrd-finances-usd-45-mn-worth-of-wind-power-in-turkey%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\/11\/02\/ebrd-finances-usd-45-mn-worth-of-wind-power-in-turkey\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-74612\" class=\"content-area-description single-story post-74612 post type-post status-publish format-standard hentry category-debt-watch tag-debt-watch tag-enterpriseclimate tag-european-bank-for-reconstruction-and-development tag-galata-wind-energy tag-turkey 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>Turkey\u2019s <\/strong><strong><a href=\"https:\/\/galatawindenerji.com\/\">Galata Wind<\/a><\/strong><strong> is getting a USD 45 mn loan from the European Bank for<\/strong><strong> Reconstruction and Development (EBRD)<\/strong> to finance up to 50 MW worth of expansions in two wind power plant projects in Mersin and Balikesir, according to an <a href=\"https:\/\/www.ebrd.com\/sites\/ContentServer?c=Content&rendermode=preview&cid=1395308770068&pagename=EBRD%2FContent%2FContentLayout\">EBRD statement<\/a>.<\/p>\n<p><strong>The projects:<\/strong> The onshore wind energy projects that will be expanded are a 105 MW plant and a 62.7 MW Sah wind power project, according to the <a href=\"https:\/\/galatawindenerji.com\/en\/operations\/\">company\u2019s website<\/a>. There are no details on how much capacity will be added to the individual projects.<\/p>\n<p><strong>About Galata Wind:<\/strong> Galata currently has an installed capacity totalling 269 MW, both from wind and solar energy projects. It aims to have a generational capacity from renewables to 500-550 MW, the statement quotes Galata Wind\u2019s CEO as saying.<\/p>\n<p><strong>IN CONTEXT- Turkey\u2019s wind energy potential lacks financing<\/strong>, the statement notes. The country currently generates 11 GW from wind power, but has an untapped potential of between 40 to 50 GW from wind energy sources, according to the EBRD.<\/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\/european-bank-for-reconstruction-and-development\/\">European Bank for Reconstruction and Development<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/galata-wind-energy\/\">Galata Wind Energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/turkey\/\">Turkey<\/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=\"74613\" 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=\"74613\">\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\">ENERGY<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/climate\/2022\/11\/02\/egypts-energy-hub-ambitions-take-shape-mubadala-energy-to-set-up-regional-hq-in-cairo\/\">\r\n                            Egypt\u2019s energy hub ambitions take shape + Mubadala Energy to set up regional HQ in Cairo                        <\/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\/11\/02\/egypts-energy-hub-ambitions-take-shape-mubadala-energy-to-set-up-regional-hq-in-cairo\/\" 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 is looking to cooperate with the US, the EU, and regional powers to become a major player in the global natgas market, El Molla said, pointing to the work of the East Mediterranean Gas Forum and a <a href=\"https:\/\/enterprise.press\/stories\/2022\/06\/16\/egypt-israel-and-the-eu-sign-gas-export-agreement-73872\/\">recent pact<\/a> to import and process Israeli gas for re-export to Europe. El Molla also called on international financial institutions to offer concessional financing for gas research and exploration in the region, especially in the eastern Mediterranean.<\/p>\n<p><strong>Mubadala Energy incoming:<\/strong> The UAE\u2019s Mubadala Energy (formerly known as <a href=\"https:\/\/www.facebook.com\/EgyptMOP\/posts\/pfbid0f1EGUDEhtd47PsrXNaXgPAEjVWwP6ck4eDq3znPkiZ1C96ZxfFuw4PkMYN13Jbv2l\">Mubadala<\/a><a href=\"https:\/\/www.facebook.com\/EgyptMOP\/posts\/pfbid0f1EGUDEhtd47PsrXNaXgPAEjVWwP6ck4eDq3znPkiZ1C96ZxfFuw4PkMYN13Jbv2l\">Petroleum<\/a>) will set up a regional HQ in Egypt and wants to invest in the country\u2019s LNG and renewables sectors, CEO Mansoor Al Hamed said, according to a <a href=\"https:\/\/www.facebook.com\/EgyptMOP\/posts\/pfbid0f1EGUDEhtd47PsrXNaXgPAEjVWwP6ck4eDq3znPkiZ1C96ZxfFuw4PkMYN13Jbv2l?__cft__[0]=AZXc_lsiVdi84ZMePSzUTywSoiAFpzlrnA1ylfF_dyTs3PNgf2Ww9oSdItHqBkeTvqABErQN96iANtxqEkQtzFFE7hVJpFL6jqZ2cOYzEQLasLTPPXg7bb58u4J0yJcHlyaLa7cKAuY23ezC4x49JpYSfZUWI2o-D8QodLJtaIi7Ux2B55Qo2cf9CzXlPXMpuR8&__tn__=%2CO%2CP-R\">statement<\/a> from Egypt\u2019s cabinet. Al Hamed\u2019s comments came during a meeting with El Molla on the sidelines of the Adipec conference.<\/p>\n<p><strong>MORE ENERGY NEWS- <\/strong><\/p>\n<p><strong>Egypt\u2019s Suez Cement is investing<\/strong> <strong>USD 25 mn in the <\/strong><strong><a href=\"https:\/\/www.suezcement.com.eg\/en\/WasteHeatRecoveryProject\">waste heat recovery facility<\/a><\/strong><strong> at<\/strong><strong> its Helwan plant<\/strong>, <a href=\"https:\/\/bit.ly\/3DKy0cP\">Al Mal<\/a> reports. The plant will use excess heat from production lines to generate 20 MW of power, replacing 30% of the plant\u2019s electricity needs.<\/p>\n<p><strong>Intro Power is pouring more into Egypt\u2019s renewables sector:<\/strong> Intro Group subsidiary Intro Power and Utilities\u2019 renewables investments in Egypt will reach USD 80 mn by the end of the year CEO Hani Helali reportedly told <a href=\"https:\/\/bit.ly\/3TUN3aB\">Al Mal<\/a>. The company is currently in negotiations with three unspecified banks to secure a USD 12 mn loan to cover some of its investment costs, Helali is quoted as saying.<\/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\/energy\/\">energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/intro-power\/\">Intro Power<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/mubadala\/\">Mubadala<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/sp-global\/\">S&amp;P Global<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/suez-cement-group\/\">Suez Cement Group<\/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=\"74615\" 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=\"74615\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">7<\/div>\r\n\r\n                    <p class=\"f-graphik\">MACRO PICTURE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/climate\/2022\/11\/02\/green-energy-can-net-big-money-for-gcc-countries-says-world-bank-report\/\">\r\n                            Green energy can net big money for GCC countries, says World Bank report                        <\/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\/11\/02\/green-energy-can-net-big-money-for-gcc-countries-says-world-bank-report\/\" 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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Baseline projections under a \u201cbusiness as usual\u201d scenario would see the region\u2019s GDP growing to USD 6 tn by 2050, compared to c.USD 2 tn penciled in for this year. The region could also establish itself as a \u201clead producer\u201d of green and blue hydrogen, the report says.<\/p>\n<p><strong>Putting the windfall profits to work: <\/strong>Bumper oil revenues \u2014 which have surged this year on the back of the energy shock triggered by Russia\u2019s invasion of Ukraine \u2014 present an opportunity to accelerate the transition towards greener energy sources, especially as energy importers begin to place greater emphasis on energy security and decarbonization. Saudi Aramco and BP just yesterday provided a reminder of how lucrative 2022 has been for the oil sector, reporting huge profits for 3Q 2022.<\/p>\n<p><strong>It\u2019s as good a time as ever to double down on renewables, which are now cheaper than <\/strong><strong>fossil fuels:<\/strong> Lower capital costs for renewable energy has already been acting as a major driver behind an increase in installed capacity across the region. \u201cBetween 2010 and 2020 the global cost of solar PV projects fell by 85% \u2026 while the costs of onshore and offshore wind projects also fell by more than half,\u201d the report says, making solar and wind projects some 30% cheaper than \u201cthe cheapest fossil fuel plants.\u201d<\/p>\n<p><strong>Capitalizing on green and blue hydrogen: <\/strong>Falling green hydrogen costs \u2014 driven by the falling costs of renewables \u2014 promises to make the industry competitive by 2030 for domestic use and for export, the report says. GCC economies are looking to utilize blue hydrogen, which uses fossil fuels with carbon capture and storage, to transition away from hydrocarbons. Projects like Saudi Arabia\u2019s <a href=\"https:\/\/www.carboncapture-expo.com\/industry_news\/saudi-aramco-bets-large-on-carbon-capture\/\">blue hydrogen plant in Jubail<\/a> and a new <a href=\"https:\/\/acwapower.com\/en\/projects\/neom-green-hydrogen-project\/\">USD 5 bn green hydrogen project in Neom<\/a>, as well as the UAE\u2019s green hydrogen pilot project at the Mohammed bin Rashid Al Maktoum Solar Park, demonstrate the uptake of the technology in the region.<\/p>\n<p><strong>Investing in carbon sequestration: <\/strong>The GCC has incentive to invest in carbon-removal technologies, which can offset its continued investment in fossil fuels as well as offset the emissions in sectors like cement, iron and steel. Carbon capture and storage (CCS), CO2 removal and long-term storage solutions are options, as well as reforestation and bioenergy, the report suggests.<\/p>\n<p><strong>EVs have potential: <\/strong>Saudi Arabia is making forays into the electric vehicle industry, which is projected to grow globally to 147 mn vehicles by 2050, up from almost 7 mn in 2021. The country\u2019s sovereign wealth fund, the <a href=\"https:\/\/www.pif.gov.sa\/en\/Pages\/Homepage.aspx\">Public Investment Fund<\/a>, <a href=\"https:\/\/www.lucidmotors.com\/media-room\/lucid-motors-closes-1bn-investment-public-investment-fund-saudi-arabia\">invested<\/a> more than USD 1 bn in US EV manufacturer <a href=\"https:\/\/www.lucidmotors.com\/\">Lucid Motors<\/a> in 2018 and the company <a href=\"https:\/\/www.lucidmotors.com\/media-room\/lucid-group-gearing-up-first-international-plant-saudi-arabia\">broke ground<\/a> on its Saudi plant earlier this year.<\/p>\n<p><strong>Private-sector financing is the critical enabler: <\/strong>While the region\u2019s sovereign wealth funds can kickstart key green investments in the short run, the GCC will need private sector investment to fund and operate large-scale green growth. This is part of a need to migrate away from public sector energy projects and establish green incubators and accelerators to support the private sector.<\/p>\n<p><strong>Green growth = new jobs: <\/strong>The clean energy transition promises to create 85 mn new jobs across the world by 2030 and 25 mn by 2050 in the areas of energy efficiency, power grids, clean hydrogen, energy flexibility and renewables.<\/p>\n<p><strong>BONUS- Clean electricity is the region\u2019s biggest chance to slash emissions: <\/strong>Electricity is responsible for 75% of the GCC\u2019s emissions, with countries already making pledges to increase the capacity of renewables and reduce the use of fossil fuels to power domestic electricity. Saudi Arabia leads the region with its pledge to achieve 50% renewable electricity capacity by 2030. Using renewables for electricity also means freeing up excess capacity of hydrocarbons for export.<\/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\/fossil-fuels\/\">fossil fuels<\/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\/macro-picture\/\">MACRO PICTURE<\/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\/renewables\/\">renewables<\/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=\"74617\" 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=\"74617\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">8<\/div>\r\n\r\n                    <p class=\"f-graphik\">ALSO ON OUR RADAR<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/climate\/2022\/11\/02\/uaes-adnoc-inks-lng-decarbonization-mou-with-indias-gail\/\">\r\n                            UAE\u2019s Adnoc inks LNG decarbonization MoU with India\u2019s Gail                        <\/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\/11\/02\/uaes-adnoc-inks-lng-decarbonization-mou-with-indias-gail\/\" 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\/11\/02\/uaes-adnoc-inks-lng-decarbonization-mou-with-indias-gail\/')\">\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\/11\/02\/uaes-adnoc-inks-lng-decarbonization-mou-with-indias-gail\/\">\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=UAE\u2019s Adnoc inks LNG decarbonization MoU with India\u2019s Gail&url=https:\/\/enterpriseam.com\/climate\/2022\/11\/02\/uaes-adnoc-inks-lng-decarbonization-mou-with-indias-gail\/\">\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\/11\/02\/uaes-adnoc-inks-lng-decarbonization-mou-with-indias-gail\/&title=UAE\u2019s Adnoc inks LNG decarbonization MoU with India\u2019s Gail\">\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=UAE%E2%80%99s+Adnoc+inks+LNG+decarbonization+MoU+with+India%E2%80%99s+Gail+https%3A%2F%2Fenterpriseam.com%2Fclimate%2F2022%2F11%2F02%2Fuaes-adnoc-inks-lng-decarbonization-mou-with-indias-gail%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\/11\/02\/uaes-adnoc-inks-lng-decarbonization-mou-with-indias-gail\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-74617\" class=\"content-area-description single-story post-74617 post type-post status-publish format-standard hentry category-also-on-our-radar tag-adnoc tag-also-on-our-radar tag-climate-change tag-decarbonization tag-dewa tag-egypt tag-enterpriseclimate tag-gail tag-india tag-lng tag-mohammed-bin-rashid-al-maktoum-solar-park tag-renewables tag-uae wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong><a href=\"https:\/\/www.adnoc.ae\/\">Adnoc<\/a><\/strong><strong>, India\u2019s <\/strong><strong><a href=\"https:\/\/www.gailonline.com\/\">Gail<\/a><\/strong><strong> look at joint LNG sales + decarbonization:<\/strong> State-owned Abu Dhabi National Oil Company (Adnoc) and Gail Limited signed an MoU yesterday to cooperate on decarbonizing liquefied natural gas (LNG), including monitoring carbon emissions from LNG cargoes, Adnoc said in a <a href=\"https:\/\/www.adnoc.ae\/en\/news-and-media\/press-releases\/2022\/adnoc-and-gail-of-india-to-explore-lng-supply-and-decarbonization-opportunities\">statement<\/a>. The two companies signed the agreement during <a href=\"https:\/\/www.adipec.com\/\">Adipec<\/a>.<\/p>\n<p><strong>OTHER STORIES WORTH KNOWING ABOUT THIS MORNING-<\/strong><\/p>\n<ul>\n<li><strong>Adnoc set a new<\/strong> <strong>upstream methane intensity target of 0.15%<\/strong> from its oil and gas assets by 2025, <a href=\"https:\/\/wam.ae\/en\/details\/1395303096545\">WAM<\/a> reports.<\/li>\n<li><strong><a href=\"https:\/\/desert-technologies.com\/\">Desert Technologies Group<\/a><\/strong> launched a subsidiary, <strong>Nurun Digital Energy<\/strong>, to produce solar containers for off-grid portable energy generation, <a href=\"https:\/\/www.zawya.com\/en\/press-release\/companies-news\/desert-technologies-group-launches-nurun-digital-energy-and-launches-its-new-product-sahara-iyl4s7tq\">Zawya<\/a> reports.<\/li>\n<li>Saudi Arabian chemical manufacturer <strong><a href=\"https:\/\/www.sabic.com\/\">Sabic<\/a><\/strong> and Saudi mining company <strong><a href=\"https:\/\/www.maaden.com.sa\/\">Ma'aden<\/a><\/strong> will each export <strong>25k tons of blue ammonia<\/strong> to South Korean chemical producer <strong><a href=\"https:\/\/www.lottechem.com\/en\/company\/about.do\">Lotte Chemical<\/a><\/strong> by the end of the year, <a href=\"https:\/\/www.argusmedia.com\/en\/news\/2385881-s-koreas-lfc-to-import-blue-ammonia-from-saudi-arabia\">Argus Media<\/a> reports.<\/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\/adnoc\/\">ADNOC<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/also-on-our-radar\/\">ALSO ON OUR RADAR<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/climate-change\/\">climate change<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/decarbonization\/\">decarbonization<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/dewa\/\">DEWA<\/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\/gail\/\">Gail<\/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\/lng\/\">LNG<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/mohammed-bin-rashid-al-maktoum-solar-park\/\">Mohammed bin Rashid Al Maktoum Solar Park<\/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\/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=\"74618\" 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=\"74618\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">9<\/div>\r\n\r\n                    <p class=\"f-graphik\">ON YOUR WAY OUT<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/climate\/2022\/11\/02\/making-syria-green-again\/\">\r\n                            Making Syria green again                        <\/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\" 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href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/climate\/2022\/11\/02\/making-syria-green-again\/\">\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=Making Syria green again&url=https:\/\/enterpriseam.com\/climate\/2022\/11\/02\/making-syria-green-again\/\">\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\/11\/02\/making-syria-green-again\/&title=Making Syria green again\">\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=Making+Syria+green+again+https%3A%2F%2Fenterpriseam.com%2Fclimate%2F2022%2F11%2F02%2Fmaking-syria-green-again%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\/11\/02\/making-syria-green-again\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/1501.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"74619\" data-permalink=\"https:\/\/enterpriseam.com\/climate\/2022\/11\/02\/making-syria-green-again\/1501-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/1501.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1501.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/1501.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/1501.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-74618\" class=\"content-area-description single-story post-74618 post type-post status-publish format-standard has-post-thumbnail hentry category-on-your-way-out tag-deforestation tag-desertification tag-drought tag-enterpriseclimate tag-on-your-way-out tag-syria 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-08\"><\/a> <strong>Tress for trees: <\/strong>Syrian ecological initiative <a href=\"https:\/\/twitter.com\/tress_green\">Green Tress<\/a> is planning to plant four mn trees to raise awareness about climate change, <a href=\"https:\/\/www.arabnews.com\/node\/2191426\/middle-east\">Arab News<\/a> reports. The volunteer group will also host climate awareness workshops and teach villagers how to compost.<\/p>\n<p><strong>Facing hurdles: <\/strong>Syria is facing massive environmental challenges including land desertification and a drought threatening the Tigris and Euphrates rivers, as well as geopolitical hurdles as Turkey\u2019s 23 dams have dried up the Euphrates\u2019 tributary rivers. Many lush forests along the northern border were destroyed during the prolonged Syrian civil war when citizens were forced to use trees for survival as fuel sources ran out. Despite these obstacles, Green Tress is determined to effect change, starting at the \u201chousehold level.\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\/deforestation\/\">deforestation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/desertification\/\">desertification<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/drought\/\">drought<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/on-your-way-out\/\">ON YOUR WAY OUT<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/syria\/\">Syria<\/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=\"74620\" 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\/11\/02\/74620\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-74620\" class=\"content-area-description single-story post-74620 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>NOVEMBER<\/strong><\/p>\n<p>31 October-3 November (Monday-Thursday): <a href=\"https:\/\/www.adipec.com\/\">ADIPEC<\/a>, Abu Dhabi National Exhibition Centre, Abu Dhabi, 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 \u2013 Baha \u2013 Makkah Independent Water Transmission Pipeline in Saudi Arabia.<\/p>\n<p><strong>COP27 sub-events:<\/strong><\/p>\n<p>7-8 November (Monday-Tuesday): <a href=\"https:\/\/www.sustainable-markets.org\/terra-carta\/\">Terra Carta Action Forum<\/a> 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>8 November ( Tuesday): <a href=\"https:\/\/gca.org\/events\/cop27-leaders-event\/\">COP27 Leaders\u2019 Event: Accelerating Adaptation in Africa<\/a>.<\/p>\n<p>10 November (Thursday): <a href=\"https:\/\/climatechrun.com\/\">ClimaTech Run competition\u2019s pitching day<\/a>.<\/p>\n<p>11-12 November (Friday-Saturday): <a href=\"https:\/\/www.saudigreeninitiative.org\/ar\/events-2021\/saudi-green-initiative-forum\/\">Saudi Green Initiative<\/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>OCTOBER 2023<\/strong><\/p>\n<p><strong>2-4 October (Monday-Wednesday): <\/strong><a href=\"https:\/\/www.showsbee.com\/fairs\/84868-WETEX-2023.html\">WETEX and Dubai Solar Show<\/a>, Dubai World Trade Centre, Dubai, United Arab Emirates.<\/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":74603,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-74602","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"e57d5a80-73fe-46d3-a45e-1f5ef8a02c10","teaser":"","photo_url":"https:\/\/ent.news\/2021\/2\/493.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>ACWA Power could build the world\u2019s second-largest wind farm in 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