{"id":75207,"date":"2022-12-13T02:00:15","date_gmt":"2022-12-13T02:00:15","guid":{"rendered":"https:\/\/enterpriseam.com\/climate\/?post_type=issue&#038;p=75207"},"modified":"2025-12-15T08:16:40","modified_gmt":"2025-12-15T08:16:40","slug":"saudi-arabia-wants-to-add-7-gw-of-renewable-energy-next-year","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/climate\/issues\/saudi-arabia-wants-to-add-7-gw-of-renewable-energy-next-year\/","title":{"rendered":"Saudi Arabia wants to add 7 GW of renewable energy next year"},"content":{"rendered":"<section id=\"75209\" 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=\"75209\">\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\/12\/13\/today-adani-is-coming-for-menas-hydrogen-indias-62-meter-waste-landfill\/\">\r\n                            TODAY: Adani is coming for MENA\u2019s hydrogen + India\u2019s 62-meter waste landfill                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a 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href=\"https:\/\/enterpriseam.com\/climate\/2022\/12\/13\/today-adani-is-coming-for-menas-hydrogen-indias-62-meter-waste-landfill\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/9\/4782.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"75210\" data-permalink=\"https:\/\/enterpriseam.com\/climate\/2022\/12\/13\/today-adani-is-coming-for-menas-hydrogen-indias-62-meter-waste-landfill\/4782-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/9\/4782.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"4782.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/9\/4782.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/9\/4782.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-75209\" class=\"content-area-description single-story post-75209 post type-post status-publish format-standard has-post-thumbnail hentry category-what-were-tracking-today tag-carbon-offsetting tag-carbon-price tag-enterpriseclimate tag-eu tag-green-transition tag-india tag-methane-emissions tag-pollution tag-trade tag-waste-management 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 a relatively quiet day on the climate news front in MENA, but we\u2019re happy we\u2019re getting some World Cup action again tonight after a two-day hiatus, with Argentina and Croatia kicking off the semi-final round at 11pm Dubai time.<\/p>\n<p><strong>THE BIG CLIMATE STORY- <\/strong><strong>Saudi Arabia\u2019s 2023 budget goes big on renewables: <\/strong>KSA is considering 10 renewable energy projects to generate some 7 GW, according to the country\u2019s approved 2023 budget.<\/p>\n<p><strong>ALSO- EBRD, GCF give Moroccan SMEs some green love: <\/strong>The European Bank for Reconstruction and Development and the Green Climate Fund are providing a loan of up to EUR 25 mn to Morocco\u2019s Banque Centrale Populaire for on-lending, with a focus on SMEs working on climate change mitigation and adaptation.<\/p>\n<p><strong>^^ We have chapter and verse on these stories and more in the news well, below. <\/strong><\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-05\"><\/a> <strong>WATCH THIS SPACE- Adani Group wants to feed MENA\u2019s hydrogen<\/strong><strong> drive: <\/strong>India\u2019s <a href=\"https:\/\/www.adani.com\/\">Adani Group<\/a> signed a tech development and licensing agreement with Australia\u2019s <a href=\"https:\/\/cavendishrenewable.com.au\/\">Cavendish Renewable Technology<\/a> (CRT) for CRT\u2019s electrolyzer technologies, <a href=\"https:\/\/www.zawya.com\/en\/projects\/industry\/indias-adani-group-australias-cavendish-partner-for-hydrogen-elctrolyser-technologies-target-mena-demand-xcvp2zcr\">Zawya<\/a> reports. The aim is to develop hydrogen tech for mass production to meet the demand of MENA and India.<\/p>\n<p><strong>This isn\u2019t Adani\u2019s first foray in the region\u2019s hydrogen space: <\/strong>The conglomerate was said to be <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/18caeb44-a0db-44d3-9a2c-8d277c504e3d\">exploring the feasibility of hydrogen production<\/a> in Morocco and Oman last month. Adani also previously signaled it may <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/b45de912-e322-4b2a-bf2b-88d4e1060db4\">invest in 10 GW of renewables projects<\/a> in Morocco to supply green ammonia.<\/p>\n<p><strong>PSA- Egypt is hosting a climate hackathon next month: <\/strong>Egypt-based energy solutions company Elsewedy Electric, VC outfit Flat6Labs and the Knowledge Hub Universities are organizing a clean and deep tech hackathon program from 13-16 January, according to a <a href=\"https:\/\/ent.news\/2022\/12\/1154.pdf\">statement (pdf)<\/a>. The hackathon will enable graduates of Elsewedy\u2019s Graduate Development Program and Coventry University students to pitch tech solutions for climate-focused sectors including smart cities, agritech, energy, industry 4.0, and water management.<\/p>\n<hr class=\"grey-line\">\n<p><a class=\"content-anchor\" id=\"tldr-story-06\"><\/a> <strong>THE BIG CLIMATE STORIES OUTSIDE THE REGION- EU closes in on agreement to<\/strong><strong> impose levy on imported goods with heavy emission footprints:<\/strong> The EU Parliament convened yesterday to discuss the proposed Carbon Border Adjustment Mechanism (<a href=\"https:\/\/ec.europa.eu\/commission\/presscorner\/detail\/en\/qanda_21_3661\">CBAM<\/a>), which would impose a carbon tariff on imported goods that contribute to emissions. The CBAM would require the purchase of carbon certificates for cement, iron, and steel imports, among other polluting industries, to protect local industries and expedite the continent\u2019s green transition. (<a href=\"https:\/\/www.reuters.com\/article\/climate-change-eu-levy-idAFL1N3320S6\">Reuters<\/a> | <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-12-12\/eu-nears-deal-on-landmark-carbon-levy-as-trade-tensions-rise#xj4y7vzkg\">Bloomberg<\/a> | <a href=\"https:\/\/www.euronews.com\/next\/2022\/12\/12\/climate-change-eu-levy\">Euronews<\/a>)<\/p>\n<p><strong>Nuclear fusion will probably be all the rage today:<\/strong> US Energy Secretary Jennifer Granholm is set to announce news of a \u201cmajor scientific breakthrough\u201d on nuclear fusion in a media briefing today, media outlets report the <a href=\"https:\/\/www.energy.gov\/\">US Department of Energy<\/a> as saying. (<a href=\"https:\/\/www.reuters.com\/business\/energy\/us-announce-scientific-breakthrough-fusion-energy-sources-2022-12-12\/\">Reuters<\/a> | <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-12-12\/nuclear-fusion-energy-breakthrough-made-by-scientists-in-us\">Bloomberg<\/a> | <a href=\"https:\/\/www.cnn.com\/2022\/12\/12\/politics\/nuclear-fusion-energy-us-scientists-climate\/index.html\">CNN<\/a> | <a href=\"https:\/\/www.cbsnews.com\/news\/nuclear-fusion-energy-breakthrough-us-expected-announcement-zero-carbon-power\/\">CBS<\/a> | <a href=\"https:\/\/www.washingtonpost.com\/business\/2022\/12\/11\/fusion-nuclear-energy-breakthrough\/\">Washington Post<\/a>)<\/p>\n<p><strong>Wait, what\u2019s nuclear fusion? <\/strong>It\u2019s literally the type of reaction that powers the sun \u2014 it involves smashing together molecules of, say, hydrogen using a laser in a process that releases more energy than you put in to create the reaction in the first place. The announcement will likely see US scientists have for the first time produced more energy from a fusion reaction than it consumed.<\/p>\n<p><strong>^^ We get deeper into the nuclear fusion breakthrough<\/strong> in the news well, below.<\/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>***<\/p>\n<p><strong>YOU\u2019RE READING ENTERPRISE CLIMATE, the essential MENA publication for senior execs who care about the world\u2019s most important industry. <\/strong>We\u2019re out Monday through Thursday at 4am Cairo \/ 5am Riyadh \/ 6am UAE.<\/p>\n<p>Were you forwarded this email? <strong>Get your own <\/strong><strong><a href=\"https:\/\/climate.enterprise.press\/subscribe\/\">subscription without charge 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><strong>***<\/strong><\/p>\n<p><strong>HAPPENING TODAY- <\/strong><\/p>\n<p><strong>Tunisia will host the <\/strong><strong><a href=\"https:\/\/irec-conference.com\/\">International Renewable Energy Congress<\/a><\/strong> today through Thursday in Hammamet. The event will provide a platform for researchers and industry leaders to showcase trends in the renewable energy sector.<\/p>\n<p><strong>CIRCLE YOUR CALENDAR- <\/strong><\/p>\n<p><strong>Saudi Arabia will host the <\/strong><strong><a href=\"https:\/\/www.futuremineralssummit.com\/\">Future Minerals Forum<\/a><\/strong> on Tuesday, 10 January to Thursday, 12 January at the King Abdulaziz International Conference Center. The forum will discuss the region\u2019s critical minerals supply and creating resilient and responsible minerals value chains for the energy transition.<\/p>\n<p><strong>FURTHER DOWN THE LINE- UAE renewable energy firm Masdar will host <\/strong><strong><a href=\"https:\/\/abudhabisustainabilityweek.com\/\">Abu Dhabi<\/a><\/strong><strong><a href=\"https:\/\/abudhabisustainabilityweek.com\/\">Sustainability Week<\/a><\/strong><strong> from Saturday, 14 January to Saturday, 21 January.<\/strong> The event will gather eight presidents and prime ministers and 30k participants in a series of conferences and summits including the Atlantic Council\u2019s <a href=\"https:\/\/abudhabisustainabilityweek.com\/ADSW\/ADSW-Events\/Abu-Dhabi-Sustainable-Finance-Forum\">Global Energy Forum<\/a>, the <a href=\"https:\/\/abudhabisustainabilityweek.com\/ADSW\/ADSW-Events\/World-Future-Energy-Summit\">World Future Energy Summit<\/a>, Masdar\u2019s <a href=\"https:\/\/abudhabisustainabilityweek.com\/ADSW\/ADSW-Events\/Green-Hydrogen-Summit\">Green Hydrogen Summit<\/a>, The International Renewable Energy Agency\u2019s <a href=\"https:\/\/www.irena.org\/events\/2023\/Jan\/The-New-Generation-of-Decision-Makers-IRENA-Youth-Forum\">Youth Forum<\/a>, and the <a href=\"https:\/\/abudhabisustainabilityweek.com\/ADSW\/ADSW-Events\/Abu-Dhabi-Sustainable-Finance-Forum\">Abu Dhabi Sustainable Finance Forum<\/a>.<\/p>\n<p><strong><a href=\"https:\/\/enterprise.press\/am-edition\/#calendar\">Check out our full calendar on the web<\/a><\/strong> for a comprehensive listing of upcoming news events, national holidays and news triggers.<\/p>\n<hr class=\"grey-line\">\n<p class='web-image' ><a href='https:\/\/edition.cnn.com\/2022\/12\/10\/india\/india-bhalswa-landfill-pollution-climate-intl-hnk-dst\/index.html'><img decoding=\"async\" data-recalc-dims=\"1\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/12\/2521.jpg?ssl=1\" alt='enterprise'><\/a><\/p>\n<p><strong>IMAGE OF THE DAY- Macabre methane monument: <\/strong>Delhi\u2019s Bhalswa landfill stands 62 meters high with thousands of kgs of waste dumped in it daily as \u201cDelhi doesn\u2019t have a concrete solid waste action plan in place,\u201d <a href=\"https:\/\/edition.cnn.com\/2022\/12\/10\/india\/india-bhalswa-landfill-pollution-climate-intl-hnk-dst\/index.html\">CNN<\/a> reports, citing the country\u2019s Center for Science and Environment. The landfill emits greenhouse gasses and toxins polluting the air and water and 14 fires have broken out so far this year as the methane in the trash overheats.<\/p><\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/carbon-offsetting\/\">carbon offsetting<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/carbon-price\/\">carbon price<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/eu\/\">EU<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/green-transition\/\">green transition<\/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\/methane-emissions\/\">methane emissions<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/pollution\/\">pollution<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/trade\/\">trade<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/waste-management\/\">waste management<\/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    <\/div>\n<\/div>\n<\/section>\n<section id=\"75211\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">      \r\n<section id=\"advertiser\" class=\"enterprise-adv issue-section\">\r\n    <div class=\"issue-section__content\" style=\"flex-direction: column;\">\r\n      <h4 class=\"wp-block-heading has-text-align-center has-normal-font-size\">\r\n        <span class=\"has-primary-color stk-highlight\"> This publication is proudly sponsored by<\/span>\r\n    <\/h4>\r\n\r\n    <div class=\"issue-sponsor-slide issue-sponsor-slide--single-slide mx-auto\">\r\n        <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/25497.png?ssl=1\">\r\n        <div class=\"overlay\"><\/div>\r\n        <div class=\"content\">\r\n            <a draggable=\"false\" href=\"https:\/\/www.hsbc.com.eg\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/25398.svg\" alt=\"\">\r\n            <\/a>\r\n            <span>Opening up a world of opportunity<\/span>\r\n        <\/div>\r\n    <\/div>\r\n\r\n      <\/div>\r\n<\/section> \r\n\r\n\n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"75212\" 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                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src=\"https:\/\/i0.wp.com\/ent.news\/2022\/9\/3759.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"75213\" data-permalink=\"https:\/\/enterpriseam.com\/climate\/2022\/12\/13\/the-climate-chunk-of-saudi-arabias-2023-budget\/3759-jpg-2\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/9\/3759.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"3759.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/9\/3759.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/9\/3759.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-75212\" class=\"content-area-description single-story post-75212 post type-post status-publish format-standard has-post-thumbnail hentry category-policy tag-carbon-offsetting tag-climate-policy tag-enterpriseclimate tag-public-spending tag-renewables tag-saudi-arabia 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>Saudi Arabia\u2019s 2023 budget goes big on renewables: <\/strong>KSA is planning to develop 10 renewable energy projects to generate a combined 7 GW, according to the country\u2019s <a href=\"https:\/\/ent.news\/2022\/12\/KSA-2023-budget.pdf\">approved 2023 budget (pdf)<\/a>. No details were given about the individual projects or the types of renewable energy. The planned projects are part of the SAR 72 bn earmarked for the kingdom\u2019s economic resource development, which covers environmental infrastructure, energy sources, and desalination, as well as industry, tourism, and SME development, among other areas.<\/p>\n<p><strong>What else is in the pipeline?<\/strong> KSA is allocating SAR 34 bn for its transport and basic equipment sector, while earmarking an undisclosed chunk to mitigating carbon emissions from maritime transport systems through the development of its railway network. The Kingdom also plans to establish a climate change center in Jeddah in 2023, and says it will be developing its Al Khobar Corniche as the country\u2019s first environmentally friendly beach under its SAR 63 bn municipal services budget.<\/p>\n<p><strong>Some notable achievements in 2022:<\/strong> The Kingdom signed MoUs for the construction of its first <a href=\"https:\/\/www.zawya.com\/en\/projects\/utilities\/saudi-arabia-has-commenced-study-to-issue-license-for-its-nuclear-power-plant-site-energy-minister-ecbxv29i\">nuclear-powered<\/a> electricity generation plant, and power purchase agreements totalling 1 GW from its <a href=\"https:\/\/www.power-technology.com\/marketdata\/saad-solar-pv-park-saudi-arabia\/\">Saad<\/a>, <a href=\"https:\/\/acwapower.com\/en\/projects\/layla-solar-pv-ipp\/\">Layla<\/a>, and <a href=\"https:\/\/acwapower.com\/en\/projects\/ar-rass-pv-ipp\/\">Ar Rass<\/a> solar power projects, which the kingdom estimates will add some SAR 2.9 bn to its coffers, according to the budget document. Another agreement will see 80% of all EVs produced by US-based EV manufacturer Lucid Motors <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/dd5f8ad6-48c3-43f9-9f3b-16ec8951b987\">produced<\/a> in Saudi Arabia by 2030. The Public Investment Fund (PIF) USD 3 bn sale in green bonds in October were almost 6x oversubscribed, as we previously <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/29128c1e-0d05-4a99-b8e2-f05247e4258d\">wrote<\/a>.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/carbon-offsetting\/\">carbon offsetting<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/climate-policy\/\">CLIMATE POLICY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/public-spending\/\">public spending<\/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                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"75214\" 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=\"75214\">\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\">CLIMATE FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/climate\/2022\/12\/13\/more-green-financing-heading-moroccos-way-to-boost-sme-focused-climate-investment\/\">\r\n                            More green financing heading Morocco\u2019s way, to boost SME-focused climate investment                        <\/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\/12\/13\/more-green-financing-heading-moroccos-way-to-boost-sme-focused-climate-investment\/\" 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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This is the third facility to be provided to BCP by the EBRD under the <a href=\"https:\/\/ebrdgeff.com\/egypt\/ebrd-and-green-climate-fund-to-continue-partnership\/\">Green Economy Financing Facility (GEFF)<\/a>, the statement says.<\/p>\n<p><strong>A raft of support to build BCP\u2019s capacity: <\/strong>The EBRD, EU, and GCF are also providing a technical cooperation package that includes a EUR 4.4 mn grant to build BCP\u2019s capacity and conduct awareness-raising activities on climate change and mitigation tech among the on-lending beneficiaries, the statement notes. These funds will also be used in the preparation, implementation and monitoring of the on-lending program, it adds.<\/p>\n<p><strong>Driving investment in climate change mitigation and adaptation tech:<\/strong> The EU will provide another EUR 2.7 mn grant to BCP to be used as a 10% cashback incentive for the on-lending beneficiaries once their projects have been successfully implemented, the statement notes. This is being done to encourage investment in climate change adaptation and mitigation tech, it adds.<\/p>\n<p><strong>A push to reduce gender disparities in accessing green finance:<\/strong> BCP\u2019s staff will receive training on gender-responsive green finance \u2014 an approach that <a href=\"https:\/\/www.greenfinanceplatform.org\/webinar\/gender-responsive-sustainable-finance-towards-inclusive-market-economies\">aims to<\/a> \u201cintegrate gender-based factors in investment and lending processes\u201d \u2014 to help offset gender-specific issues around financing climate projects, the statement notes.<\/p>\n<p><strong>This is one more boost for regional on-lending to climate focused SMEs: <\/strong>Jordan is set <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/0012f4b1-24a2-48c9-b997-f2f5eb2af8eb\">to<\/a><a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/0012f4b1-24a2-48c9-b997-f2f5eb2af8eb\">receive<\/a> USD 40 mn for on-lending from the EBRD, EU and GCF through the GEFF program, which has already financed facilities worth USD 22 mn to the country so far this year. Morocco\u2019s Bank of Africa \u2013 BMCE Group <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/a443b122-36c6-4495-a183-bbe0e9cfb4d3\">recently secured<\/a> EUR 13 mn in loans to use for on-lending to SMEs, with EUR 9.75 mn of this funding coming from the EBRD and EUR 3.25 mn from the GCF, and the EU providing a separate EUR 1.43 mn grant. Last year, the EBRD greenlit a USD 25 mn loan to the <a href=\"https:\/\/www.ebrd.com\/work-with-us\/projects\/psd\/51935.html\">National Bank of Kuwait<\/a> Egypt in April, a USD 50 mn loan to <a href=\"https:\/\/enterprise.press\/stories\/2021\/06\/10\/ebrd-plans-for-more-green-loans-to-egypt-43338\/\">QNB AlAhli<\/a> in June, and a USD 100 mn facility to Egypt\u2019s <a href=\"https:\/\/enterprise.press\/stories\/2021\/11\/14\/more-green-finance-for-smes-courtesy-of-the-ebrd-58041\/\">Banque Misr<\/a> in November.<\/p>\n<p><strong>IN OTHER CLIMATE FINANCE NEWS- <\/strong><\/p>\n<p><strong>The EBRD is providing a new EUR 100 mn loan to Morocco\u2019s government-owned Soci\u00e9t\u00e9 <\/strong><strong>Nador West Med for construction of the Nador West Med Port<\/strong>, according to <a href=\"https:\/\/ent.news\/2022\/12\/2800.pdf\">a statement (pdf)<\/a>. The loan is an additional second tranche issued under a EUR 200 mn loan agreement reached in 2015, the statement notes. The EBRD will also extend a EUR 1 mn technical cooperation package to assess the port\u2019s potential role in the hydrogen value chain, the statement notes. Soci\u00e9t\u00e9 Nador West Med was created specifically to <a href=\"https:\/\/www.ebrd.com\/work-with-us\/projects\/psd\/nador-west-med-port.html\">develop the port<\/a>.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/climate-finance\/\">climate finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/eu\/\">EU<\/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\/gcf\/\">GCF<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/green-economy-financing-facility\/\">Green Economy Financing Facility<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/green-finance\/\">green finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/smes\/\">SMEs<\/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=\"75216\" 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=\"75216\">\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\">CLIMATE FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/climate\/2022\/12\/13\/efgs-vortex-energy-invests-eur-46-mn-in-spanish-renewables-group\/\">\r\n                            EFG\u2019s Vortex Energy invests EUR 46 mn in Spanish renewables group                        <\/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\/12\/13\/efgs-vortex-energy-invests-eur-46-mn-in-spanish-renewables-group\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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The investment was made through the Vortex Energy IV Fund \u2014 which <a href=\"https:\/\/enterprise.press\/stories\/2021\/07\/07\/big-esg-private-equity-funding-coming-courtesy-of-efg-46794\/\">reached its first close<\/a> of USD 200 mn in July 2021 \u2014 Al Borsa noted. A representative from EFG Hermes declined to comment when Enterprise Climate reached out.<\/p>\n<p><strong>This is <\/strong><strong>part of a <\/strong><strong><a href=\"https:\/\/enterprise.press\/stories\/2021\/10\/05\/efg-hermes-vortex-invests-eur-625-mn-in-spanish-solar-developer-55086\/\">planned EUR 625 mn<\/a><\/strong><strong> equity investment that could eventually see Vortex owning a<\/strong> <strong>49% stake in Ignis<\/strong>, the two companies announced in <a href=\"https:\/\/ent.news\/2021\/10\/EFG-Ignis-EN.pdf\">a joint statement (pdf)<\/a> in October 2021. In return, Vortex will receive an equity stake \u2014 reported by <a href=\"https:\/\/www.reuters.com\/business\/efg-hermes-partners-with-spains-ignis-energia-725-mln-investment-2021-10-04\/\">Reuters<\/a> to be 49% \u2014 in Ignis. Vortex is due to invest a further EUR 176 mn of equity capital in Ignis in 1Q 2023, according to a June 2022 <a href=\"https:\/\/ent.news\/2022\/6\/Vortex-Energy-Ignis-June-7-2022-English.pdf\">statement (pdf)<\/a>.<\/p>\n<p><strong>By our calculation, Vortex has now invested EUR 268 mn into Ignis<\/strong>, following its announcement in June that it had invested EUR 222 mn so far. The remaining EUR 181 mn is due to come over the course of 2023, Vortex Energy CEO Karim Moussa told EnterpriseAM at the time.<\/p>\n<p><strong>Ignis is using the investment to expand its portfolio<\/strong>, EnterpriseAM reported previously. Ignis has secured permits to add over 1 GW of capacity since the start of its partnership with Vortex, and as of June was set to begin construction on around half of that within months, EnterpriseAM reported. Most of this will be on solar projects in Spain, Moussa told EnterpriseAM. Ignis has been involved in developing some 14 GW of solar and wind projects inside Spain and c.11 GW in other parts of the world \u2014 primarily Italy, the US, and the UK, he added.<\/p>\n<p><strong>Advisors:<\/strong> Santander and Royal Bank of Canada were financial advisors on the EUR 46 mn capital injection, while Watson Farley Williams served as legal advisor. Citi provided financial advisory services and Cuatrecasas provided advisory services, according to <a href=\"https:\/\/dailynewsegypt.com\/2022\/12\/12\/vortex-energy-injects-second-investment-tranche-of-e46m-in-ignis\/\">Daily News Egypt<\/a>.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/climate-finance\/\">climate finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/green-finance\/\">green finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/ignis-energia\/\">Ignis Energia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/investment\/\">investment<\/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\/spain\/\">Spain<\/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\/vortex-energy\/\">Vortex 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=\"75218\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"75219\" 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=\"75219\">\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\">THE GREENTECH CORNER<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/climate\/2022\/12\/13\/is-nuclear-fusion-now-a-reality\/\">\r\n                            Is nuclear fusion now a reality?                        <\/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\/12\/13\/is-nuclear-fusion-now-a-reality\/\" 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\/12\/13\/is-nuclear-fusion-now-a-reality\/')\">\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\/12\/13\/is-nuclear-fusion-now-a-reality\/\">\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=Is nuclear fusion now a reality?&url=https:\/\/enterpriseam.com\/climate\/2022\/12\/13\/is-nuclear-fusion-now-a-reality\/\">\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\/12\/13\/is-nuclear-fusion-now-a-reality\/&title=Is nuclear fusion now a reality?\">\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=Is+nuclear+fusion+now+a+reality%3F+https%3A%2F%2Fenterpriseam.com%2Fclimate%2F2022%2F12%2F13%2Fis-nuclear-fusion-now-a-reality%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\/12\/13\/is-nuclear-fusion-now-a-reality\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/12\/1664.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"75220\" data-permalink=\"https:\/\/enterpriseam.com\/climate\/2022\/12\/13\/is-nuclear-fusion-now-a-reality\/1664-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/12\/1664.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1664.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/12\/1664.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/12\/1664.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-75219\" class=\"content-area-description single-story post-75219 post type-post status-publish format-standard has-post-thumbnail hentry category-the-greentech-corner tag-enterpriseclimate tag-green-tech tag-nuclear-fusion tag-renewables wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-04\"><\/a> <strong>A nuclear fusion breakthrough could spell good news for clean<\/strong><strong> energy \u2014 and MENA:<\/strong> Scientists at a California lab have reportedly made a breakthrough on nuclear fusion energy, paving the way for an \u201cabundant zero-carbon alternative to fossil fuels,\u201d the <a href=\"https:\/\/www.ft.com\/content\/4b6f0fab-66ef-4e33-adec-cfc345589dc7\">Financial Times<\/a> reports, citing three sources with knowledge of the matter.<\/p>\n<p><strong>In a nutshell:<\/strong> A recent experiment at the lab saw the first ever net energy gain \u2014 meaning more energy was produced than consumed \u2014 from a fusion reaction. Fusion power is high-energy and produces virtually no carbon and no radioactive waste, but traditionally, reactions have always consumed more energy than they produced. In the recent experiment, an estimated 2.5 megajoules of energy was produced \u2014 that\u2019s 120% of the 2.1 megajoules of energy used to power the reaction. This could be a major step towards providing an alternative to fossil fuels and conventional nuclear energy, the FT notes.<\/p>\n<p><strong>SOUND SMART- <\/strong>Nuclear fusion is <a href=\"https:\/\/en.wikipedia.org\/wiki\/Nuclear_fusion\">a reaction<\/a> that could potentially generate unlimited energy by fusing atoms\u2019 nuclei \u2014 as opposed to splitting the nuclei in a conventional nuclear fission reaction. Fusion reactions, which power stars, need temperatures equivalent to 100-200 mn \u00b0C, so it had been relegated to the realm of science fiction. The total addressable market for the energy source is on the order of USD 1 tn per year, former CEO of General Fusion Christofer Mowry told Bloomberg (<a href=\"https:\/\/youtu.be\/Dp6W7g9no0w?t=1239\">watch, runtime: 20:38<\/a>).<\/p>\n<p><strong>The UK previously made some strides in this area<\/strong>, having greenlit the world\u2019s first fusion station <a href=\"https:\/\/www.bbc.com\/news\/uk-england-nottinghamshire-63163966\">in October<\/a>. The caveat: The UK government said that there are \u201cno guarantees\u201d that the GBP 20 bn plant, which is set to be complete in 2040, will work.<\/p>\n<p><strong>And the technology is receiving considerable investments from governments and VCs<\/strong><strong> globally. <\/strong>Canadian startup <a href=\"https:\/\/generalfusion.com\/\">General Fusion<\/a>, founded in 2002, has attracted investors such as Amazon CEO Jeff Bezos. Another nuclear fusion startup creating a lot of buzz is <a href=\"https:\/\/www.helionenergy.com\/\">Helion Energy<\/a>, which raised USD 500 mn in its series E funding round, and has attracted renowned investors such as co-founder of Paypal Peter Thiel and former president of Y Combinator Sam Altman, according to Bloomberg Quicktake (<a href=\"https:\/\/www.youtube.com\/watch?v=Dp6W7g9no0w\">watch, runtime: 22:31<\/a>).<\/p>\n<p><strong>THE HOMETOWN ANGLE- Bill Gates thinks MENA can be a hub for nuclear energy: <\/strong>Bill Gates <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/ced34c8b-82c9-49d9-862f-d15547ae793d\">emphasized the impact<\/a> MENA nuclear power projects \u2014 such as the <a href=\"https:\/\/www.enec.gov.ae\/barakah-plant\/\">Barakah nuclear energy plant<\/a> in the UAE \u2014 have in helping accelerate the transition to low-carbon energy sources, the National <a href=\"https:\/\/www.thenationalnews.com\/uae\/2022\/10\/06\/bill-gates-says-middle-east-can-be-key-to-worlds-renewable-energy-drive\/\">reported<\/a> in October.<\/p>\n<p><strong>The region could leapfrog into fusion: <\/strong>MENA could lead by developing nuclear fusion reactors that \u201care safe and cheaper than traditional energy sources,\u201d Gates noted. But up until yesterday, researchers have been able to generate well beyond 100 mn \u00b0C during experiments, but were unable to sustain fusion power for more than five seconds.<\/p>\n<p><strong>GO DEEPER- <\/strong>Check out <a href=\"https:\/\/twitter.com\/arthurturrell\/status\/1601511409476853761\">this Twitter thread<\/a> on why nuclear fusion is much closer to becoming reality than we think.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/green-tech\/\">green tech<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/nuclear-fusion\/\">nuclear fusion<\/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=\"75221\" 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=\"75221\">\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\">ALSO ON OUR RADAR<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/climate\/2022\/12\/13\/oman-is-getting-its-first-e-waste-recycling-plant-has-a-timeline-for-green-ammonia-plant\/\">\r\n                            Oman is getting its first e-waste recycling plant + has a timeline for green ammonia plant                        <\/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\/12\/13\/oman-is-getting-its-first-e-waste-recycling-plant-has-a-timeline-for-green-ammonia-plant\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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The facility \u2014 located in the Dhofar province capital Salalah \u2014 aims to process at least 500k pounds of discarded electronic devices in its first year of operation. Oman has been exporting e-waste and storing some in anticipation of opening a recycling facility, the statement notes.<\/p>\n<p><strong>\u2026and sets a date for USD 1 bn green ammonia project: <\/strong>The Marubeni-led consortium\u2019s one mn ton per annum green ammonia <a href=\"https:\/\/www.omanobserver.om\/article\/1111039\/business\/economy\/1bn-project-to-create-green-ammonia-export-hub-in-salalah\">SalalaH2 project<\/a> is projected to become commercially operational by 1Q 2028, the <a href=\"https:\/\/www.omanobserver.om\/article\/1129577\/business\/energy\/marubeni-targets-launch-of-oman-green-ammonia-project-in-q1-2028\">Oman Observer<\/a> reports. The plant will have a generational capacity of 1k tons per day and will be powered by nearly 4 GW worth of electricity produced by pre-existing or new wind and solar power plants, the news outlet notes. Japan\u2019s Marubeni is the largest developer in a consortium which includes Oman\u2019s OQ Alternative Energy and German chemicals company Linde.<\/p>\n<p><strong>OTHER STORIES WORTH KNOWING ABOUT THIS MORNING-<\/strong><\/p>\n<ul>\n<li><strong>Amea Power<\/strong>\u2019s <strong><a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/7c5659c7-cf17-4cd6-9d18-c8afb5c643fb\">100 MW solar plant<\/a><\/strong><a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/7c5659c7-cf17-4cd6-9d18-c8afb5c643fb\">in<\/a><strong><a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/7c5659c7-cf17-4cd6-9d18-c8afb5c643fb\">Tunisia<\/a><\/strong> will break ground in 2H 2023. The solar facility in northern Tunisia\u2019s Kairouan is part of a national push to build solar plants with a combined capacity of 500 MW across the country. (<a href=\"https:\/\/www.babnet.net\/cadredetail-258022.asp\">Babnet<\/a>)<\/li>\n<\/ul>\n<ul>\n<li><strong>KSA\u2019s <\/strong><strong><a href=\"https:\/\/www.kapsarc.org\/\">King Abdullah Petroleum Studies and Research Center<\/a><\/strong> inked an agreement with <strong>China\u2019s <\/strong><strong><a href=\"https:\/\/www.etri.re.kr\/engcon\/sub1\/sub1_02.etri\">Economics & Technology Research Institute<\/a><\/strong> to cooperate on energy and environment research. (<a href=\"https:\/\/saudigazette.com.sa\/article\/627749\">Saudi Gazette<\/a>)<\/li>\n<li>The <strong>UAE <\/strong>approved the second phase of <strong>Dubai\u2019s 2040 Urban Master Plan<\/strong> with a focus on enhancing food security and reducing the city\u2019s carbon footprint. (<a href=\"https:\/\/www.wam.ae\/en\/details\/1395303110734\">Statement<\/a>)<\/li>\n<\/ul>\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\/agritech\/\">Agritech<\/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\/amea-power\/\">Amea Power<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/food-security\/\">food security<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/oman\/\">Oman<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/renewables\/\">renewables<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/uae\/\">UAE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/waste\/\">waste<\/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=\"75223\" 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\/12\/13\/75223\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-75223\" class=\"content-area-description single-story post-75223 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>DECEMBER<\/strong><\/p>\n<p>7-19 December (Wednesday-Monday): 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>13-14 December (Tuesday-Wednesday): <a href=\"https:\/\/eu.eventscloud.com\/ereg\/newreg.php?eventid=200250856&&_hsenc=p2ANqtz-9c1yZ0YX1kRz0YQou4--8cKBZQGMolUkO1jP7yQl8gwbwZtt8idQVk4Nh_4cgjoS-liOXgE398SLuxMQt0H0v6QMS33Q\">Seminar on EU standards for agri-food products<\/a> for the Gulf Cooperation Council countries, Grand Millennium Business Bay Hotel, Dubai, UAE.<\/p>\n<p>13-15 December (Tuesday-Thursday): <a href=\"https:\/\/irec-conference.com\/\">International Renewable Energy Congress<\/a>, Hammamet, Tunisia.<\/p>\n<p><strong>JANUARY 2023<\/strong><\/p>\n<p>10-12 January (Tuesday-Thursday): <a href=\"https:\/\/www.futuremineralssummit.com\/\">The Future Minerals Forum<\/a>, Riyadh, Saudi Arabia.<\/p>\n<p>13 January (Friday): The International Renewable Energy Agency\u2019s Youth Forum, Abu Dhabi, UAE.<\/p>\n<p>14-21 January (Saturday-Saturday): Abu Dhabi Sustainability Week, Abu Dhabi, 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>21-22 February (Tuesday-Wednesday): <a href=\"https:\/\/thearabgreensummit.com\/\">The Arab Green Summit<\/a>, Dubai, UAE.<\/p>\n<p>21-23 February (Tuesday-Thursday): <a href=\"https:\/\/worldesgsummit.com\/\">World Environment, Social and Governance (ESG) Summit<\/a>, 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>MAY 2023<\/strong><\/p>\n<p>1-4 May (Monday-Thursday): Arabian Travel Market, Dubai World Trade Centre, Dubai, UAE. Register <a href=\"https:\/\/www.wtm.com\/atm\/en-gb.html\">here<\/a>.<\/p>\n<p>29-31 May (Monday-Wednesday): <a href=\"https:\/\/www.evinnovationsummit.com\">Electric Vehicle Innovation Summit<\/a>, Abu Dhabi National Exhibition Centre, Abu Dhabi, UAE.<\/p>\n<p><strong>JUNE 2023<\/strong><\/p>\n<p><a href=\"https:\/\/www.bloombergneweconomy.com\/news\/bloomberg-announces-inaugural-new-economy-gateway-africa-in-morocco\/\">Bloomberg New Economy Gateway Africa Conference<\/a>, Marrakesh, Morocco.<\/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>2-4 October (Monday-Wednesday): <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\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":75208,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-75207","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"6b718a8a-caa4-49ee-9d1a-eef4c734eedf","teaser":"","photo_url":"https:\/\/ent.news\/2022\/12\/6266.jpg"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 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