{"id":75771,"date":"2023-01-30T02:00:56","date_gmt":"2023-01-30T02:00:56","guid":{"rendered":"https:\/\/enterpriseam.com\/climate\/?post_type=issue&#038;p=75771"},"modified":"2025-12-15T08:26:49","modified_gmt":"2025-12-15T08:26:49","slug":"gcc-investment-in-indias-adani-enterprises-green-finance-focused-secondary-offering-goes-south","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/climate\/issues\/gcc-investment-in-indias-adani-enterprises-green-finance-focused-secondary-offering-goes-south\/","title":{"rendered":"GCC investment in India\u2019s Adani Enterprises\u2019 green finance-focused secondary offering goes south"},"content":{"rendered":"<section id=\"75773\" 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=\"75773\">\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\/2023\/01\/30\/today-gcc-appetite-for-indias-adani-enterprises-green-finance-focused-secondary-offering-goes-south-rumors-pif-wants-the-rest-of-ev-maker-lucid-group\/\">\r\n                            TODAY: GCC appetite for India\u2019s Adani Enterprises\u2019 green finance-focused secondary offering goes south + Rumors PIF wants the rest of EV maker Lucid 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\/2023\/01\/30\/today-gcc-appetite-for-indias-adani-enterprises-green-finance-focused-secondary-offering-goes-south-rumors-pif-wants-the-rest-of-ev-maker-lucid-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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We have a lot of news to cover this morning, so let\u2019s jump right in.<\/p>\n<p><strong>THE BIG CLIMATE STORY OUTSIDE THE REGION- Climate change-induced inclement<\/strong><strong> weather hits New Zealand mid-summer:<\/strong> Auckland, New Zealand\u2019s largest city and business hub, remained under a state of emergency yesterday after three days of severe rainfall, flash floods, and landslides battered \u201clarge swathes\u201d of the country\u2019s North Island. Rainfall reached record levels, with four people reported dead, thousands of properties left without power, and hundreds without water, according to authorities. Auckland Airport closed its international and domestic terminals from Friday evening to midday Saturday, forcing one Emirates flight from the UAE <a href=\"https:\/\/www.thenationalnews.com\/travel\/2023\/01\/29\/emirates-new-zealand-bound-superjumbo-turns-back-to-dubai-after-13-hour-flight-to-nowhere\/\">to turn around<\/a> 13 hours into the trip. Climate change is causing more frequent and intense periods of rainfall in the antipodean nation, New Zealand\u2019s Climate Change Minister James Shaw noted in <a href=\"https:\/\/twitter.com\/jamespeshaw\/status\/1619176550443917315\">a tweet<\/a> on Saturday.<\/p>\n<p><strong>The story is seeing widespread coverage in the international press: <\/strong><a href=\"https:\/\/www.reuters.com\/business\/environment\/deadly-new-zealand-flood-crisis-extends-countrys-north-island-2023-01-29\/\">Reuters<\/a> | <a href=\"https:\/\/www.theguardian.com\/world\/2023\/jan\/29\/auckland-flooding-death-toll-rises-as-new-zealand-hit-with-more-heavy-rain-and-landslides\">Guardian<\/a> | <a href=\"https:\/\/www.bbc.com\/news\/world-asia-64440319\">BBC<\/a> | <a href=\"https:\/\/edition.cnn.com\/2023\/01\/28\/asia\/new-zealand-flooding-auckland-three-dead-intl-hnk\/index.html\">CNN<\/a> | <a href=\"https:\/\/www.abc.net.au\/news\/2023-01-29\/auckland-starts-clean-up-after-deadly-flash-floods\/101904116\">ABC<\/a> | <a href=\"https:\/\/www.nytimes.com\/2023\/01\/27\/world\/asia\/auckland-new-zealand-flooding.html\">New York Times<\/a> | <a href=\"https:\/\/www.voanews.com\/a\/new-zealand-roiled-by-flash-floods-landslides-for-third-day-\/6938585.html\">Voice of America<\/a> | <a href=\"https:\/\/www.euronews.com\/2023\/01\/28\/new-zealand-flooding-three-dead-and-one-missing-after-record-rain-pounds-auckland\">Euronews<\/a> |<\/p>\n<p><strong>ALSO BIG OUTSIDE THE REGION, BUT WITH REGIONAL IMPLICATIONS-<\/strong><strong> India\u2019s Gautam<\/strong><strong> Adani has clapped back at a report poised to derail his firm\u2019s USD 2.5 bn secondary offering<\/strong>, intended to boost green financing. Adani published a <a href=\"https:\/\/www.adani.com\/-\/media\/Project\/Adani\/Invetsors\/Adani-Response-to-Hindenburg-January-29-2023.pdf?la=en\">413-page document (pdf)<\/a> yesterday, refuting allegations leveled at Adani Group of fraud and unsustainable debt \u2014 all of which were published on Tuesday in a report by investment research firm and short seller Hindenburg Research.<\/p>\n<p><strong>Investor interest in a planned secondary offering of shares in Adani Enterprises \u2014 a key Adani Group subsidiary \u2014 was notably muted when it kicked off last week<\/strong>, following the Hindenburg report\u2019s disclosures. Adani had intended to use some USD 1.33 bn raised in the secondary offering to fund green hydrogen and other infrastructure projects, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-01-25\/ihc-adia-among-bidders-for-adani-s-2-5-billion-share-sale?leadSource=uverify%20wall#xj4y7vzkg\">Bloomberg<\/a> reported before the furore. <strong>We have more on the story in the news well, below. <\/strong><\/p>\n<p><strong>Adani terms the publication of the Hindenburg report \u201cnothing short of a calculated securities fraud under applicable law\u201d in his rebuttal.<\/strong> The company has intimated it might take legal action against the research firm.<\/p>\n<p>The story is seeing coverage in the international press: <a href=\"https:\/\/www.reuters.com\/business\/adanis-25-billion-share-sale-faces-crucial-day-after-indian-rout-2023-01-29\/\">Reuters<\/a> | <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-01-29\/adani-says-hindenburg-conduct-is-calculated-securities-fraud?leadSource=uverify%20wall\">Bloomberg<\/a> | <a href=\"https:\/\/www.reuters.com\/business\/indias-adani-group-hindenburg-report-intended-create-false-market-2023-01-29\/\">Reuters<\/a> | <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-01-29\/adani-says-hindenburg-report-is-calculated-fraud-document?utm_source=google&utm_medium=bd&cmpId=google&leadSource=uverify%20wall\">Bloomberg<\/a> | <a href=\"https:\/\/www.ft.com\/content\/f0403ce4-98f9-4aed-8af7-a7f0b3ad1445\">Financial Times<\/a> | <a href=\"https:\/\/www.bbc.com\/news\/business-64431235\">BBC<\/a><\/p>\n<hr class=\"grey-line\">\n<p><strong>PSA- The French Development Agency (AFD) has opened applications for funding <\/strong><strong>sustainable cities projects through its Samim project<\/strong>, according to a <a href=\"https:\/\/www.afd.fr\/en\/actualites\/sustainable-cities-call-projects-4-mediterranean-countries?origin=\/en\/actualites\">statement<\/a>. AFD will provide financing ranging from EUR 30-40k for projects focusing on waste management, energy efficiency, sustainable mobility, ecotourism, ecourbanism, and ones bolstering the transition to clean energy across Morocco, Tunisia, and Jordan. Interested SMEs, startups, and young entrepreneurs from the three countries with projects that can be completed within 12 months <a href=\"https:\/\/t.co\/zPfaGiCap6\">can submit applications<\/a><a href=\"https:\/\/t.co\/zPfaGiCap6\">here<\/a> until 20 February.<\/p>\n<p><strong>WATCH THIS SPACE- Oman has allocated land for renewables projects that will be used for <\/strong><strong>green hydrogen and ammonia production within its special economic zones<\/strong>, Public Authority for Special Economic Zones and FreeZones (<a href=\"https:\/\/www.opaz.gov.om\/en\">OPAZ<\/a>) Chairman Ali Al Sunaidy said in <a href=\"https:\/\/www.thebusinessyear.com\/interview\/ali-masoud-al-sunaidy-oman-2023\/\">an interview<\/a> last week. OPAZ has allocated 250 sqkm within the <a href=\"https:\/\/duqm.gov.om\/en\">Duqm economic zone<\/a> for solar and wind farms to power green hydrogen and ammonia production, with one \u201cinitial 300 MW plant\u201d already under construction and detailed studies underway for another of \u201cmuch larger capacity,\u201d Al Sunaidy said. OPAZ is also allocating land within the <a href=\"https:\/\/www.opaz.gov.om\/en\/zones\/sohar-free-zone\">Sohar economic zone<\/a> to boost solar energy production, he added. Plans to allocate the land were announced back <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/e806e16c-672f-4775-8776-6f597297731a\">in October<\/a>.<\/p>\n<p><strong>Blue hydrogen could also be produced in Duqm: <\/strong>OPAZ is eyeing the possibility of producing blue hydrogen for export in Duqm, taking the captured CO2 and \u201cre-injecting\u201d it into decommissioned oil and gas fields nearby, Al Sunaidy said.<\/p>\n<p><strong>SIGN OF THE TIMES- Is the tide turning on fossil fuel investments? <\/strong>Global green investments were on par with fossil fuel investments for the first time in 2022, with USD 1 tn channeled into the clean energy transition last year, according to analysis from <a href=\"https:\/\/about.bnef.com\/blog\/global-low-carbon-energy-technology-investment-surges-past-1-trillion-for-the-first-time\/\">BloombergNEF<\/a>. This is the first time investments in renewables, electric vehicles and new energy sources have exceeded USD 1 tn, increasing 31% y-o-y from 2021. Almost half of energy transition investments \u2014 USD 546 bn \u2014 were made in China, with the US taking second place with investments totaling USD 141 bn. The biggest share of investments by project type went toward wind and solar, with EVs coming in close behind.<\/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 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<hr class=\"grey-line\">\n<p><strong>CLIMATE DIPLOMACY- <\/strong><\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-04\"><\/a><strong> Egypt\u2019s El Sisi puts green energy in the spotlight on state visit to India:<\/strong> Egyptian President Abdel Fattah El Sisi discussed stronger renewables collaboration during talks with Indian Prime Minister Narendra Modi and held green energy-focused discussions with the leaders of India\u2019s <a href=\"https:\/\/renewpower.in\/\">ReNew Power<\/a> and <a href=\"https:\/\/www.adani.com\/\">Adani Group<\/a> during his visit to India last week, according to multiple statements (<a href=\"https:\/\/www.facebook.com\/Egy.Pres.Spokesman\/posts\/pfbid02EXezPnjqyFmaYGbRtSuU9sjR2qnzWfgtKdHLPMH5Dp5xdnDEX2oK7EdUnx8bxR5hl\">here<\/a>, <a href=\"https:\/\/www.facebook.com\/Egy.Pres.Spokesman\/posts\/pfbid02PHNd3zW5xnSDxyfvsgr8xhumiDjima3eXtNEXLmig71vwyqWumtcCNXFqdqF9Kjxl\">here<\/a> and <a href=\"https:\/\/www.facebook.com\/Egy.Pres.Spokesman\/posts\/pfbid023z5YgrDw6qVMBvfDATvTaMSbFoZKf6VAm1kHp6D7ofhNdgSuaSWxB87XZBtbRyNgl\">here<\/a>). No new investment or economic agreements have been announced following El Sisi\u2019s three-day visit.<\/p>\n<p><strong>El Sisi also discussed renewables with Azerbaijan:<\/strong> El Sisi met with Azerbaijani counterpart Ilham Aliyev to discuss cooperation on renewable energy and Egypt\u2019s renewables and hydrogen generation capacity on his first state visit to the country, according to a cabinet <a href=\"https:\/\/sis.gov.eg\/Story\/176259\/President-El-Sisi's-visit-to-Azerbaijan?lang%3Den-us\">statement<\/a> on Friday. The president also discussed private sector cooperation and investments with the country\u2019s industry leaders, another <a href=\"https:\/\/sis.gov.eg\/Story\/176235\/Sisi-says-Egypt-eyes-increasing-investments-with-Azerbaijan?lang=en-us\">statement<\/a> notes, without disclosing any specific projects.<\/p>\n<p><strong>Egypt\u2019s Electricity Ministry signed an MoU with Nigeria\u2019s <\/strong><strong>Energy Ministry to boost renewable energy cooperation<\/strong>, according to a <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0vAhGn4f2LGFEixie1ZfQXsiNhriDNQu9SEbUHryBX9mztRG5aWQsjEJtfwDFDTyl\">cabinet statement<\/a> released last week. The agreement will target cooperation on planning, design, and implementation of renewable energy projects and expand on training and capacity building activities for energy production in both countries.<\/p>\n<hr class=\"grey-line\">\n<p><strong>CIRCLE YOUR CALENDAR- <\/strong><\/p>\n<p><strong>EBRD + EU + GCF green finance event in Egypt:<\/strong> The European Bank for Reconstruction and Development (EBRD), the EU, and the <a href=\"https:\/\/www.greenclimate.fund\/about\">Green Climate Fund<\/a> will hold a green finance event tomorrow at the Nile Ritz Carlton Hotel in Cairo, Egypt.<\/p>\n<p><strong>Egypt will host the <\/strong><strong><a href=\"https:\/\/www.egyptcsrforum.com\/\">CSR Forum<\/a><\/strong><strong> from 2-5 March<\/strong> at Somabay, Hurghada. The event aims to further discussions put forth during COP27 and boost private and public sector cooperation on climate action. You can register for the event <strong><a href=\"https:\/\/www.egyptcsrforum.com\/#tickets\">here<\/a><\/strong>.<\/p>\n<p><strong>The <\/strong><strong><a href=\"https:\/\/csrawards.co.uk\/?_vsrefdom=p.18862.c.63552&gclid=Cj0KCQiA_bieBhDSARIsADU4zLfzUfPsWrHsDesF4xVT_pp7zGcttJCxvTWsHCsCCIcA3l0joghXxKQaAr1aEALw_wcB\">Arabia CSR Awards<\/a><\/strong> <strong>is accepting applications until Friday, 30 June.<\/strong> The awardwinners will be announced during a ceremony on Wednesday, 4 October.<\/p>\n<p><strong><a href=\"https:\/\/enterprise.press\/am-edition\/#calendar\">Check out our full calendar on the web<\/a><\/strong> for a comprehensive listing of upcoming news events, national holidays and news triggers.<\/p><\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" 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href=\"https:\/\/enterpriseam.com\/climate\/2023\/01\/30\/gcc-investment-in-adani-enterprises-green-finance-focused-secondary-offering-isnt-going-as-planned\/\">\r\n                            GCC investment in Adani Enterprises\u2019 green finance-focused secondary offering isn\u2019t going as planned                        <\/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\/2023\/01\/30\/gcc-investment-in-adani-enterprises-green-finance-focused-secondary-offering-isnt-going-as-planned\/\" target=\"_blank\">\n                    Open in new tab                 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href=\"https:\/\/enterpriseam.com\/climate\/2023\/01\/30\/gcc-investment-in-adani-enterprises-green-finance-focused-secondary-offering-isnt-going-as-planned\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/343.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"75777\" data-permalink=\"https:\/\/enterpriseam.com\/climate\/2023\/01\/30\/gcc-investment-in-adani-enterprises-green-finance-focused-secondary-offering-isnt-going-as-planned\/343-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/343.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"343.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/343.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/343.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-75776\" class=\"content-area-description single-story post-75776 post type-post status-publish format-standard has-post-thumbnail hentry category-ma-watch-2 tag-adani-green tag-enterpriseclimate tag-gcc tag-green-hydrogen tag-investment tag-ma-watch tag-uae wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-01\"><\/a> <strong>Strong GCC investor interest in India\u2019s Adani Enterprises is at risk:<\/strong> While GCC investors had been eyeing bids for the INR 200 bn (USD 2.45 bn) secondary offering of India\u2019s Adani Group subsidiary <a href=\"https:\/\/www.adanienterprises.com\/\">Adani Enterprises<\/a> \u2014 which kicked off last Wednesday \u2014 <a href=\"https:\/\/hindenburgresearch.com\/?p=2376\">a report<\/a> published last week by Hindenburg Research has led the company\u2019s share price to tumble and could put the offering at risk, <a href=\"https:\/\/www.reuters.com\/business\/indias-adani-kicks-off-245-bln-share-sale-while-under-short-seller-attack-2023-01-27\/\">Reuters<\/a> reports. Adani had intended to use some INR 108.69 bn (USD 1.33 bn) from the secondary offering to fund green hydrogen projects, along with airport facilities and greenfield expressways, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-01-25\/ihc-adia-among-bidders-for-adani-s-2-5-billion-share-sale?leadSource=uverify%20wall#xj4y7vzkg\">Bloomberg<\/a> reported last week.<\/p>\n<p><strong>Which regional players bought in so far? <\/strong>UAE sovereign wealth fund <a href=\"https:\/\/www.adia.ae\/\">Abu Dhabi Investment<\/a><a href=\"https:\/\/www.adia.ae\/\">Authority (ADIA)<\/a> and other anchor investors bid for shares worth some INR 90 bn (USD 1.10 bn), making the INR 60 bn anchor portion of the offering 1.5x oversubscribed, <a href=\"https:\/\/www.reuters.com\/markets\/deals\/gulf-investors-bid-indias-adani-enterprises-25-bln-fpo-bloomberg-news-2023-01-25\/\">Reuters<\/a> reported on Wednesday. <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-01-25\/ihc-adia-among-bidders-for-adani-s-2-5-billion-share-sale?leadSource=uverify%20wall#xj4y7vzkg\">Bloomberg<\/a> suggested the anchor book\u2019s oversubscription rate had hit 1.8-2x. Among the anchor investors, interested parties included Abu Dhabi-headquartered corporate investment holding firm <a href=\"https:\/\/ihcuae.com\/\">International Holding Company (IHC)<\/a>, UAE sovereign wealth fund <a href=\"https:\/\/www.mubadala.com\/\">Mubadala<\/a>, and French international banking group <a href=\"https:\/\/markets.ft.com\/data\/equities\/tearsheet\/summary?s=BNP:PAR\">BNP Paribas SA<\/a>. IHC had reportedly bid for some USD 200 mn worth of shares, while the other anchor investors had placed bids ranging from USD 25-50 mn, Bloomberg\u2019s Wednesday run-down noted. ADIA was allocated 2.56% of the 18.2 mn shares reserved for institutional investors \u2014 worth INR 1.53 bn (USD 18.8 mn).<\/p>\n<p><strong>But then shareholder appetite plummeted over the weekend: <\/strong>As retail bidding started on Friday, the issue was only around 1% subscribed, Reuters noted. Investors had bid for some 470k of the 45.5 mn shares on offer, the newswire added. Adani Enterprises\u2019 stock ended the day at INR 2,761 per share \u2014 well below the sale\u2019s INR 3,112\/share floor price.<\/p>\n<p><strong>So, will the offering continue as planned?<\/strong> <strong>We may find out <\/strong><strong>today:<\/strong> The secondary offering remains on track and will continue on schedule at the planned issue price, Adani Group told <a href=\"https:\/\/www.reuters.com\/world\/india\/bankers-adani-25-bln-share-sale-consider-delay-price-cut-after-rout-2023-01-28\/\">Reuters<\/a> on Saturday. This followed reports by unnamed sources that bankers were mulling an extension of the sale by four days or cutting the issue price by as much as 10%. Bidding for anchor and retail investors is set to close tomorrow.<\/p>\n<p><strong>Why is this important? Adani Group has been on a renewables push: <\/strong>Adani Group pledged to invest USD 50-70 bn in the next decade across \u201cthe entire green energy value chain,\u201d the <a href=\"https:\/\/www.adani.com\/-\/media\/Project\/Adani\/Media-Coverage\/2021\/Adani-plans-to-invest-USD-50-70-Bn.pdf?la=en\">Press Trust of India reported (pdf)<\/a> in October. Adani Green Energy \u2014 the renewables branch of Adani Group \u2014 raised USD 750 mn in green bond issuances and announced a USD 200 mn JPY-denominated refinancing facility in 2022, the <a href=\"https:\/\/www.ft.com\/content\/0793dfce-7885-48ed-baea-6a94abe3db3f\">Financial Times<\/a> noted. Adani New Industries (ANIL) \u2014 a utility company focused on renewables projects \u2014 is targeting production of 1 mn metric tons of green hydrogen by 2030. TotalEnergies, which holds a 25% stake in ANIL and <a href=\"https:\/\/totalenergies.com\/media\/news\/press-releases\/total-to-acquire-20-percent-of-AGEL-the-largest-solar-developer-in-the-world\">a 20% stake<\/a> in Adani Green Energy, <a href=\"https:\/\/totalenergies.com\/media\/news\/press-releases\/india-totalenergies-and-adani-join-forces-create-world-class-green\">is partnering with ANIL<\/a> to build a green ammonia facility serving the Indian market.<\/p>\n<p><strong>And eyeing green hydrogen production in MENA:<\/strong> Adani Group was said to be exploring the feasibility of hydrogen production in Morocco and Oman <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/18caeb44-a0db-44d3-9a2c-8d277c504e3d\">in November<\/a>, having previously indicated <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/b45de912-e322-4b2a-bf2b-88d4e1060db4\">it could invest<\/a> in 10 GW of renewables projects in Morocco to supply green ammonia. The group recently <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/1bd39713-2ba8-4e34-be39-10ff1cf51d2a\">signed an agreement<\/a> with Australia\u2019s Cavendish Renewable Technology (CRT) for CRT\u2019s electrolyzer technologies, as part of a plan to develop hydrogen tech to meet demands in MENA and India.<\/p>\n<p><strong>But some have accused Adani of raising money under the guise of a renewables push, <\/strong><strong>only to fund polluting businesses. <\/strong>Investing in Adani\u2019s renewables activity ultimately funds the growth of the group\u2019s fossil fuel-based businesses, despite Adani\u2019s claims that the subsidiaries have different mandates, Climate Energy Finance director Tim Buckley is quoted by the FT as saying.<\/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\/adani-green\/\">Adani Green<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/gcc\/\">GCC<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/green-hydrogen\/\">green hydrogen<\/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\/ma-watch\/\">M&amp;A WATCH<\/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=\"75778\" 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=\"75778\">\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\">M&amp;A WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/climate\/2023\/01\/30\/is-pif-acquiring-ev-maker-lucid-group\/\">\r\n                            Is PIF acquiring EV maker Lucid 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\/2023\/01\/30\/is-pif-acquiring-ev-maker-lucid-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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PIF already holds a majority stake of over 65% in the firm, the outlet added.<\/p>\n<p><strong>Is talk of an acquisition just a lot of hot air? <\/strong>Speculation that an acquisition was in the offing is effectively \u201cmarket gossip\u201d attributed to <a href=\"https:\/\/www.betaville.co.uk\/\">Betaville<\/a>, an independent website covering M&A and other agreements, Reuters noted. One long-short fund manager told Reuters that the fund shorted Lucid amid Friday\u2019s share spike, based on the belief that the spike \u201cwas solely based on rumors,\u201d the outlet added.<\/p>\n<p><strong>PIF has already invested heavily in Lucid:<\/strong> PIF invested <a href=\"https:\/\/www.lucidmotors.com\/media-room\/lucid-motors-closes-1bn-investment-public-investment-fund-saudi-arabia\">over USD 1 bn<\/a> in Lucid Motors \u2014 <a href=\"https:\/\/capital.com\/lucid-group-shareholder-who-owns-most-lcid-stock\">the<\/a><a href=\"https:\/\/capital.com\/lucid-group-shareholder-who-owns-most-lcid-stock\">brand name<\/a> of Lucid Group \u2014 in 2018, and construction of the company\u2019s Saudi Arabia production plant began <a href=\"https:\/\/www.lucidmotors.com\/media-room\/lucid-group-gearing-up-first-international-plant-saudi-arabia\">in May 2022<\/a>. 80% of all EVs produced by Lucid <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/dd5f8ad6-48c3-43f9-9f3b-16ec8951b987\">will be made<\/a> in Saudi Arabia by 2030 with 155k EVs produced annually in the Kingdom by 2025, Lucid\u2019s Vice President for MENA, Faisal Sultan, told <a href=\"https:\/\/www.asharqbusiness.com\/article\/43368\">Asharq Business<\/a> in October.<\/p>\n<p><strong>This is part of KSA\u2019s bigger EV push: <\/strong>Saudi Arabia\u2019s first EV company, <a href=\"https:\/\/ceermotors.com\/\">Ceer<\/a> \u2014 a JV between PIF and Taiwan\u2019s <a href=\"http:\/\/www.foxconn.com\/\">Foxconn Technology Group<\/a> \u2014 secured a site for its <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/5ee461e8-e76f-4e4f-bab1-3bf0611dff80\">USD 96 mn EV factory<\/a> in the King Abdullah Economic Center <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/5ee461e8-e76f-4e4f-bab1-3bf0611dff80\">in November<\/a>, with plans to sell EVs in Saudi Arabia by 2025. And Dubai\u2019s Admiral Mobility will bring some 5k commercial vehicles to Saudi Arabia and the UAE this year and next, <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/715f4308-426f-443e-9ca4-3eb53e59f365\">we noted<\/a> in December. In 2018, PIF was interested in taking US EV and clean energy firm <a href=\"https:\/\/www.tesla.com\/\">Tesla<\/a> private, but no agreement was reached, Reuters noted.<\/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\/evs\/\">EVs<\/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\/lucid-motors\/\">Lucid Motors<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/ma-watch\/\">M&amp;A WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/pif\/\">PIF<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/saudi-arabia\/\">Saudi Arabia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"75780\" 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=\"75780\">\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\">Diplomacy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/climate\/2023\/01\/30\/iraq-and-france-to-boost-cooperation-in-renewables-qatar-eyes-a-stake-in-iraqi-energy-projects\/\">\r\n                            Iraq and France to boost cooperation in renewables + Qatar eyes a stake in Iraqi energy projects                        <\/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\/2023\/01\/30\/iraq-and-france-to-boost-cooperation-in-renewables-qatar-eyes-a-stake-in-iraqi-energy-projects\/\" 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\/2023\/01\/30\/iraq-and-france-to-boost-cooperation-in-renewables-qatar-eyes-a-stake-in-iraqi-energy-projects\/')\">\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\/2023\/01\/30\/iraq-and-france-to-boost-cooperation-in-renewables-qatar-eyes-a-stake-in-iraqi-energy-projects\/\">\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=Iraq and France to boost cooperation in renewables + Qatar eyes a stake in Iraqi energy projects&url=https:\/\/enterpriseam.com\/climate\/2023\/01\/30\/iraq-and-france-to-boost-cooperation-in-renewables-qatar-eyes-a-stake-in-iraqi-energy-projects\/\">\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\/2023\/01\/30\/iraq-and-france-to-boost-cooperation-in-renewables-qatar-eyes-a-stake-in-iraqi-energy-projects\/&title=Iraq and France to boost cooperation in renewables + Qatar eyes a stake in Iraqi energy projects\">\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=Iraq+and+France+to+boost+cooperation+in+renewables+%2B+Qatar+eyes+a+stake+in+Iraqi+energy+projects+https%3A%2F%2Fenterpriseam.com%2Fclimate%2F2023%2F01%2F30%2Firaq-and-france-to-boost-cooperation-in-renewables-qatar-eyes-a-stake-in-iraqi-energy-projects%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\/2023\/01\/30\/iraq-and-france-to-boost-cooperation-in-renewables-qatar-eyes-a-stake-in-iraqi-energy-projects\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/6189.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"75781\" data-permalink=\"https:\/\/enterpriseam.com\/climate\/2023\/01\/30\/iraq-and-france-to-boost-cooperation-in-renewables-qatar-eyes-a-stake-in-iraqi-energy-projects\/6189-jpg-4\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/6189.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"6189.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/6189.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/6189.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-75780\" class=\"content-area-description single-story post-75780 post type-post status-publish format-standard has-post-thumbnail hentry category-diplomacy tag-diplomacy tag-enterpriseclimate tag-france tag-green-hydrogen tag-iraq tag-qatar 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-03\"><\/a><strong> Iraq and France have inked agreements as part of a strategic roadmap to expand <\/strong><strong>cooperation in renewable energy among other sectors<\/strong>, according to a <a href=\"https:\/\/www.elysee.fr\/emmanuel-macron\/2023\/01\/27\/communique-conjoint-a-lissue-de-la-visite-en-france-du-premier-ministre-de-la-republique-dirak-mohammed-chia-al-soudani\">statement<\/a> released on Friday. Iraqi Prime Minister Mohammed Shia al-Sudani and French President Emmanuel Macron met in Paris on Thursday to discuss expanding cooperation in energy and public transportation, among other sectors, the statement said.<\/p>\n<p><strong>Strengthening ties: <\/strong>France organized the <a href=\"https:\/\/enterprise.press\/stories\/2022\/12\/21\/egypt-rejects-foreign-interference-in-iraq-el-sisi-tells-middle-east-summit-91916\/\">Baghdad Conference for Cooperation and<\/a><a href=\"https:\/\/enterprise.press\/stories\/2022\/12\/21\/egypt-rejects-foreign-interference-in-iraq-el-sisi-tells-middle-east-summit-91916\/\">Partnership<\/a> \u2014 the second of its kind \u2014 in Jordan last month to provide international support to the country in terms of security, economic integration, and stability, the <a href=\"https:\/\/saudigazette.com.sa\/article\/628190\/World\/Jordan-King-Baghdad-Cooperation-Conference-aims-to-support-Iraq-sovereignty\">Saudi Gazette<\/a> quoted Jordan\u2019s King Abdullah II as saying.<\/p>\n<p><strong>Iraq needs USD bns to boost green growth:<\/strong> Baghdad faces <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/404b6beb-6c14-4cc2-bd14-25532d0885c0\">desertification<\/a>, <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/9fbd593d-b6c0-4f94-b102-80181d081c22\">food insecurity<\/a>, and systemic <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/d2e8ee1c-8620-43f3-bea6-d34695ae0b7c\">central power network failures<\/a>, as well as geopolitical obstacles hindering its development. Iraq needs some USD 233 bn additional investment by 2040 to pursue its green growth path, according to a World Bank <a href=\"https:\/\/ent.news\/2022\/12\/4022.pdf\">report (pdf)<\/a>. The country must diversify its oil-reliant economy in the face of climate change-driven challenges, the report said.<\/p>\n<p><strong>Some moves have been made:<\/strong> Several Chinese companies submitted proposals to <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/03b4f27d-0f3b-4687-a18b-b1e435570e35\">develop<\/a><a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/03b4f27d-0f3b-4687-a18b-b1e435570e35\">wind and solar facilities<\/a> in the country last month. Iraq\u2019s Environment Ministry and National Investment Commission are also preparing <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/03b4f27d-0f3b-4687-a18b-b1e435570e35\">a new solid waste-to-energy law<\/a> to attract investments.<\/p>\n<p><strong>And other unspecified ventures:<\/strong> The Iraqi government approved a plan earlier this month to establish a <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/28059d91-a333-4e8e-904a-b719a3a2d12a\">USD 3 bn unspecified energy facility<\/a> that would more than quadruple the southern governorate of Dhi Qar\u2019s generation capacity to 3.85 GW from 850 MW.<\/p>\n<p><strong>France is also interested in cooperation on renewables:<\/strong> The Elys\u00e9e wants to enhance cooperation with the kingdom in the field of renewable energy and hydrogen, French Finance Minister Bruno Le Maire told <a href=\"https:\/\/www.alarabiya.net\/aswaq\/special-stories\/2023\/01\/29\/%D9%88%D8%B2%D9%8A%D8%B1-%D8%A7%D9%84%D8%A7%D9%82%D8%AA%D8%B5%D8%A7%D8%AF-%D8%A7%D9%84%D9%81%D8%B1%D9%86%D8%B3%D9%8A-%D9%84%D9%84%D8%B9%D8%B1%D8%A8%D9%8A%D8%A9-%D8%AA%D8%B9%D8%B2%D9%8A%D8%B2-%D8%A7%D9%84%D8%AA%D8%B9%D8%A7%D9%88%D9%86-%D9%85%D8%B9-%D8%A7%D9%84%D8%B3%D8%B9%D9%88%D8%AF%D9%8A%D8%A9-%D8%B6%D8%B1%D9%88%D8%B1%D9%8A-%D9%81%D9%8A-%D8%A7%D9%84%D8%B7%D8%A7%D9%82%D8%A9-%D8%A7%D9%84%D9%85%D8%AA%D8%AC%D8%AF%D8%AF%D8%A9\">Al Arabiya<\/a> yesterday. The minister also signaled interest in attracting more investments from Saudi companies in France.<\/p>\n<p><strong>IN OTHER NEWS- Qatar might be eyeing a stake in Iraqi energy projects:<\/strong> QatarEnergy could acquire a 30% stake in a USD 27 bn cluster of energy projects in Iraq owned by France\u2019s TotalEnergies, <a href=\"https:\/\/www.reuters.com\/business\/energy\/qatar-talks-join-totalenergies-27-bln-iraqi-energy-project-sources-2023-01-25\/\">Reuters<\/a> reports, citing unnamed sources with knowledge of the matter. The agreement reportedly includes the development of a 1 GW photovoltaic power plant, according to <a href=\"https:\/\/www.rfi.fr\/en\/international\/20230126-iraqi-prime-minister-meets-macron-in-paris-for-energy-and-security-talks\">RFI<\/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\/diplomacy\/\">diplomacy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/france\/\">France<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/green-hydrogen\/\">green hydrogen<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/iraq\/\">Iraq<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" 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                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"75782\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"75783\" 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=\"75783\">\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\">HYDROGEN<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/climate\/2023\/01\/30\/algeria-partners-on-low-carbon-hydrogen-production-facility-in-italy\/\">\r\n                            Algeria partners on low-carbon hydrogen production facility in Italy                        <\/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\/2023\/01\/30\/algeria-partners-on-low-carbon-hydrogen-production-facility-in-italy\/\" 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 timeline and financials of the projects were not disclosed.<\/p>\n<p><strong>The details:<\/strong> The plant will generate some 7.8k tons of low carbon hydrogen produced with renewable energy and some 25k tons of synthetic gas annually, the company notes. Details on the renewable energy projects used to generate the low carbon hydrogen have not been disclosed.<\/p>\n<p><strong>And how much carbon are they capturing?<\/strong> The plants are expected to enable both companies to sequester some 120k tons of CO2 per annum, with plans on repurposing the energy source for future use, Sasol\u2019s statement says.<\/p>\n<p><strong>Sonatrach has been busy lately: <\/strong>Sonatrach <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/d407ae48-fadb-46c3-842a-e8ee0965ab97\">signed two agreements<\/a> with Italian multinational energy company Eni to reduce greenhouse gas and methane emissions, increase energy efficiency, and develop renewable energy projects including green hydrogen and carbon capture and storage, according to a <a href=\"https:\/\/www.eni.com\/en-IT\/media\/press-release\/2023\/01\/eni-sonatrach-sign-strategic-agreements-accelerate-emissions-reduction.html\">statement<\/a>. Eni and Sonatrach will also undertake studies to see how Algeria\u2019s energy export to Europe could be improved.<\/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\/algeria\/\">Algeria<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/green-hydrogen\/\">green hydrogen<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/hydrogen\/\">hydrogen<\/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=\"75785\" 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=\"75785\">\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\/2023\/01\/30\/ksa-turns-to-robotic-mining-tunisia-invites-bids-on-1-4-gw-of-renewables-projects\/\">\r\n                            KSA turns to robotic mining + Tunisia invites bids on 1.4 GW of renewables projects                        <\/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\/2023\/01\/30\/ksa-turns-to-robotic-mining-tunisia-invites-bids-on-1-4-gw-of-renewables-projects\/\" 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\/2023\/01\/30\/ksa-turns-to-robotic-mining-tunisia-invites-bids-on-1-4-gw-of-renewables-projects\/')\">\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\/2023\/01\/30\/ksa-turns-to-robotic-mining-tunisia-invites-bids-on-1-4-gw-of-renewables-projects\/\">\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=KSA turns to robotic mining + Tunisia invites bids on 1.4 GW of renewables projects&url=https:\/\/enterpriseam.com\/climate\/2023\/01\/30\/ksa-turns-to-robotic-mining-tunisia-invites-bids-on-1-4-gw-of-renewables-projects\/\">\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\/2023\/01\/30\/ksa-turns-to-robotic-mining-tunisia-invites-bids-on-1-4-gw-of-renewables-projects\/&title=KSA turns to robotic mining + Tunisia invites bids on 1.4 GW of renewables projects\">\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=KSA+turns+to+robotic+mining+%2B+Tunisia+invites+bids+on+1.4+GW+of+renewables+projects+https%3A%2F%2Fenterpriseam.com%2Fclimate%2F2023%2F01%2F30%2Fksa-turns-to-robotic-mining-tunisia-invites-bids-on-1-4-gw-of-renewables-projects%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\/2023\/01\/30\/ksa-turns-to-robotic-mining-tunisia-invites-bids-on-1-4-gw-of-renewables-projects\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/1\/909.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"75786\" data-permalink=\"https:\/\/enterpriseam.com\/climate\/2023\/01\/30\/ksa-turns-to-robotic-mining-tunisia-invites-bids-on-1-4-gw-of-renewables-projects\/909-jpg-2\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/1\/909.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"909.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/1\/909.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/1\/909.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-75785\" class=\"content-area-description single-story post-75785 post type-post status-publish format-standard has-post-thumbnail hentry category-also-on-our-radar tag-also-on-our-radar tag-enterpriseclimate tag-green-hydrogen tag-mining tag-renewables tag-saudi-arabia tag-tunisia 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-06\"><\/a> <strong>Saudi\u2019s Ma\u2019aden signed an MoU with US-based AI robotic mining company <\/strong><strong><a href=\"https:\/\/www.offworld.ai\/\">Offworld<\/a><\/strong><strong> to explore zero-carbon mining in the kingdom<\/strong>, according to a <a href=\"https:\/\/www.businesswire.com\/news\/home\/20230127005093\/en\/OffWorld-and-Ma%E2%80%99aden-Collaborate-to-Spearhead-a-New-Era-of-AI-Powered-Swarm-Robotic-Mining-in-the-Kingdom-of-Saudi-Arabia\">press release<\/a> published on Friday. The agreement will allow Ma\u2019aden to use robotic mining swarms that eliminate mining\u2019s carbon footprint and the need for human miners.<\/p>\n<p><strong>How does it work?<\/strong> Offworld\u2019s smart robot swarms aim to innovate mining, processing, manufacturing, and construction with five types of robots covering a range of functions including surveying, excavating, collecting, hauling, and bulldozing, according to their <a href=\"https:\/\/www.offworld.ai\/\">website<\/a>.<\/p>\n<p><strong>Why this is important:<\/strong> The World Bank <a href=\"https:\/\/www.worldbank.org\/en\/news\/feature\/2022\/06\/06\/mineral-rich-developing-countries-can-drive-a-net-zero-future\">has warned<\/a> that minimizing the climate footprint of mineral extraction \u2014 which runs the risk of exacerbating water scarcity and significantly increasing emissions \u2014 is key as demand for energy-transition minerals increases.<\/p>\n<hr class=\"grey-line\">\n<p><strong>Tunisia issues tenders for 16 renewables projects worth 1.4 GW:<\/strong> Tunisia is inviting bids for solar and wind energy projects in the country over the next two years, according to a <a href=\"https:\/\/www.energiemines.gov.tn\/ar\/tc\/%D8%A7%D9%84%D8%A3%D8%AE%D8%A8%D8%A7%D8%B1\/news\/%D8%B7%D9%84%D8%A8%D8%A7%D8%AA-%D8%B9%D8%B1%D9%88%D8%B6-%D9%81%D9%8A-%D8%A5%D8%B7%D8%A7%D8%B1-%D8%A7%D9%84%D8%A8%D8%B1%D9%86%D8%A7%D9%85%D8%AC-%D8%A7%D9%84%D9%88%D8%B7%D9%86%D9%8A-%D9%84%D8%A7%D9%86%D8%AA%D8%A7%D8%AC-%D8%A7%D9%84%D9%83%D9%87%D8%B1%D8%A8%D8%A7%D8%A1-%D9%85%D9%86-%D8%A7%D9%84%D8%B7%D8%A7%D9%82%D8%A7%D8%AA-%D8%A7%D9%84%D9%85%D8%AA%D8%AC%D8%AF%D8%AF%D8%A9-1\/?tx_news_pi1%5Bcontroller%5D=News&tx_news_pi1%5Baction%5D=detail&cHash=23d30e2c780a53af92b868481deafa07\">government statement<\/a>. Eight <a href=\"https:\/\/www.energiemines.gov.tn\/fileadmin\/docs-u1\/ene-ren\/AO01-2022.pdf\">solar power plants<\/a> \u2014 each with a generation capacity of 100 MW \u2014 and eight <a href=\"https:\/\/www.energiemines.gov.tn\/fileadmin\/docs-u1\/ene-ren\/AO2-2022.pdf\">wind energy farms<\/a> with a generation capacity of 75 MW each are on offer. The first round of bidding for the solar plants closes on 15 June, while the deadline to submit bids for the wind projects is 14 September.<\/p>\n<p><strong>KSA ramping carbon capture research:<\/strong> Saudi Arabia\u2019s state-owned Saline Water Conversion Corporation (<a href=\"https:\/\/www.swcc.gov.sa\/en\">SWCC<\/a>) has signed a cooperation agreement with Korean <a href=\"https:\/\/www.carbonco.co.kr\/eng\/main\">CarbonCo<\/a> for joint research across various carbon capture projects across the kingdom, <a href=\"https:\/\/tradearabia.com\/news\/OGN_405724.html\">Trade Arabia<\/a> reports. The two partners will work together to adopt carbon capture utilization and storage (CCUS) technology to absorb carbon from power plants run by SWCC and use it in the seawater desalination post-treatment procedure. No financial details were disclosed.<\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-07\"><\/a> <strong>Masdar-led consortium ramps up SAF production certifications:<\/strong> A consortium of UAE\u2019s renewables firm Masdar, Siemens Energy, Marubeni, and TotalEnergies announced last week that it is working to obtain licenses to certify the production of sustainable aviation fuel (SAF) from methanol gas, according to a company <a href=\"https:\/\/news.masdar.ae\/ar\/Press-Release?News\/2023\/01\/25\/11\/17\/Novel-pathway-to-make-SAF-from-methanol\">statement<\/a>. The consortium has worked with regulators to complete technology supplier assessments, feasibility studies, and designs since 2021, the statement notes<\/p>\n<p><strong>And others are helping:<\/strong> The Masdar-led consortium will work with the Abu Dhabi Department of Energy, Lufthansa, Khalifa University of Science and Technology, and Emirates Airways will launch a pilot project to produce SAF and green aviation fuel, the statement notes.<\/p>\n<p><strong>OTHER STORIES WORTH KNOWING ABOUT THIS MORNING-<\/strong><\/p>\n<ul>\n<li><strong>US-based EV manufacturer Canoo<\/strong> signed an exclusive distribution agreement with <strong>KSA\u2019s GCC Olayan<\/strong> for the sale, service maintenance, and repair of Canoo EVs in Saudi Arabia. Both companies are also eyeing the construction of a local assembly plant in the kingdom. (<a href=\"https:\/\/www.press.canoo.com\/press-release\/canoo-announces-definitive-partnership-agreement-with-gcc-olayan-as-exclusive-distributor-of-its-electric-vehicles-in-saudi-arabia\">Statement<\/a>)<\/li>\n<li><strong>UAE state-owned aluminum manufacturer Emirates Global Aluminium<\/strong> provided over 200k tons of waste feedstock to various industries across the country in 2022. (<a href=\"http:\/\/wam.ae\/en\/details\/1395303122898\">Statement<\/a>)<\/li>\n<li><strong>Egypt\u2019s state-owned Misr Chemical Industries<\/strong> has tapped <strong>gas company Gulf Cryo<\/strong> and <strong>engineering firm Ecces<\/strong> for a hydrogen exploitation project under a build, own, operate contract. (<a href=\"https:\/\/www.egx.com.eg\/downloads\/Bulletins\/287204_2.pdf\">EGX statement<\/a>)<\/li>\n<li><strong>Emerge<\/strong> \u2014 a JV between Masdar and France\u2019s EDF \u2014 signed an agreement with <strong>UAE bottler and distributor Coca-Cola Al Ahlia<\/strong> for a <strong>1.8 MW solar plant<\/strong> in Al Ain. The turnkey project \u2014 operated and maintained by Emerge for 25 years \u2014 will include ground-mounted, rooftop and car park installations. (<a href=\"https:\/\/news.masdar.ae\/en\/News\/2023\/01\/26\/12\/53\/Emerge-Partners-with-Coca-Cola-Al-Ahlia-Beverages\">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\/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\/green-hydrogen\/\">green hydrogen<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/mining\/\">MINING<\/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\/tunisia\/\">Tunisia<\/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=\"75787\" 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=\"75787\">\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\">ON YOUR WAY OUT<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/climate\/2023\/01\/30\/should-we-all-be-eating-seaweed-a-new-study-suggests-the-region-would-thank-us\/\">\r\n                            Should we all be eating seaweed? A new study suggests the region would thank us                        <\/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\/2023\/01\/30\/should-we-all-be-eating-seaweed-a-new-study-suggests-the-region-would-thank-us\/\" 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\/2023\/01\/30\/should-we-all-be-eating-seaweed-a-new-study-suggests-the-region-would-thank-us\/')\">\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\/2023\/01\/30\/should-we-all-be-eating-seaweed-a-new-study-suggests-the-region-would-thank-us\/\">\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=Should we all be eating seaweed? A new study suggests the region would thank us&url=https:\/\/enterpriseam.com\/climate\/2023\/01\/30\/should-we-all-be-eating-seaweed-a-new-study-suggests-the-region-would-thank-us\/\">\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\/2023\/01\/30\/should-we-all-be-eating-seaweed-a-new-study-suggests-the-region-would-thank-us\/&title=Should we all be eating seaweed? A new study suggests the region would thank us\">\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=Should+we+all+be+eating+seaweed%3F+A+new+study+suggests+the+region+would+thank+us+https%3A%2F%2Fenterpriseam.com%2Fclimate%2F2023%2F01%2F30%2Fshould-we-all-be-eating-seaweed-a-new-study-suggests-the-region-would-thank-us%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\/2023\/01\/30\/should-we-all-be-eating-seaweed-a-new-study-suggests-the-region-would-thank-us\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/1\/950.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"75788\" data-permalink=\"https:\/\/enterpriseam.com\/climate\/2023\/01\/30\/should-we-all-be-eating-seaweed-a-new-study-suggests-the-region-would-thank-us\/950-jpg-2\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/1\/950.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"950.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/1\/950.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/1\/950.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-75787\" class=\"content-area-description single-story post-75787 post type-post status-publish format-standard has-post-thumbnail hentry category-on-your-way-out tag-agriculture tag-decarbonization tag-enterpriseclimate tag-on-your-way-out tag-seaweed-farming tag-tunisia 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>Growth in commercial seaweed farming could have profound benefits to land use, <\/strong><strong>emissions reduction, water and fertilizer use<\/strong>, the Guardian <a href=\"https:\/\/www.theguardian.com\/environment\/2023\/jan\/27\/food-feed-and-fuel-global-seaweed-industry-could-reduce-land-needed-for-farming-by-110m-hectares-study-finds\">reports<\/a>, citing a study led by the University of Queensland. The study found that the inclusion of seaweed as 10% of human diets globally by 2050 would sufficiently reduce the amount of land needed for food by an area twice the size of France.<\/p>\n<p><strong>Where does our region stand?<\/strong> While seaweed cultivation and bioprocessing is still scarce in MENA and GCC areas \u2014 valued at nominal USD 28.9 mn in 2022 \u2014 Tunis <a href=\"https:\/\/www.france24.com\/en\/live-news\/20210623-tunisia-trailblazer-in-mediterranean-seaweed-farming\">made strides<\/a>increasing its red seaweed harvest operations in 2021. Further afield, Africa is also eying potential growth in the seaweed production, with one <a href=\"https:\/\/link.springer.com\/article\/10.1007\/s10811-021-02676-w\">study<\/a> highlighting the continent\u2019s unlocked potential given its position as the third-largest producer of red seaweed.<\/p>\n<p><strong>Why is this important? <\/strong>Seaweed production does not require arable lands, irrigation, or fertilizers, according to a <a href=\"https:\/\/www.researchgate.net\/publication\/355419779_Seaweeds_as_a_promising_resource_for_blue_economy_development_in_Tunisia_current_state_opportunities_and_challenges\">2021 study<\/a> on benefits of seaweed farming in Tunisia, making it a climate-friendly food industry for regional countries battling water scarcity.<\/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\/agriculture\/\">agriculture<\/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\/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\/seaweed-farming\/\">Seaweed farming<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/tunisia\/\">Tunisia<\/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=\"75789\" 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\/2023\/01\/30\/75789\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-75789\" class=\"content-area-description single-story post-75789 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>FEBRUARY 2023<\/strong><\/p>\n<p>4-9 February (Saturday- Wednesday) <a href=\"https:\/\/iaee2023.saudi-aee.sa\/\">International Association for Energy Economics\u2019 International Conference<\/a>, Riyadh, Saudi Arabia.<\/p>\n<p>6-8 February (Monday-Wednesday): <a href=\"https:\/\/www.simec-expo.com\/\">Saudi International Marine Exhibition and Conference<\/a>, Riyadh, Saudi Arabia.<\/p>\n<p>13-15 February (Monday-Wednesday): <a href=\"https:\/\/www.google.com\/aclk?sa=l&ai=DChcSEwi57sHU9IL8AhXT4VEKHZgYCTAYABAAGgJ3cw&sig=AOD64_3DcfDWXN3u_BifQPcUCEg-jnP1xA&q&adurl&ved=2ahUKEwin87nU9IL8AhWlxYUKHaADC0cQ0Qx6BAgJEAE\">The Egypt Petroleum Show<\/a>, Cairo, Egypt.<\/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>7-9 March (Tuesday-Thursday) <a href=\"https:\/\/www.middleeast-energy.com\/en\/home.html\">Middle East Energy<\/a> exhibition, Dubai World Trade Center, Dubai, UAE.<\/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>22-24 March (Wednesday-Friday): <a href=\"https:\/\/sdgs.un.org\/conferences\/water2023\">UN 2023 Water Conference<\/a>, New York, NY, United States.<\/p>\n<p><strong>APRIL 2023<\/strong><\/p>\n<p>6 April (Thursday): Arabia CSR Awards 2022 Clinic (online).<\/p>\n<p><strong>MAY 2023<\/strong><\/p>\n<p>1-4 May (Monday-Thursday): <a href=\"https:\/\/www.wtm.com\/atm\/en-gb.html\">Arabian Travel Market<\/a>, Dubai, UAE.<\/p>\n<p>2-7 May (Tuesday-Sunday): <a href=\"https:\/\/www.agriculture.gov.ma\/ar\/actualites\/tnzym-almltqy-aldwly-llflaht-balmghrb-mn-02-aly-07-may-2023-bmknas\">Salon International de l\u2019Agriculture au Maroc (SIAM)<\/a>, Meknes, Morocco.<\/p>\n<p>16-18 May (Tuesday-Thursday): <a href=\"https:\/\/www.seatrademaritime-middleeast.com\/en\/home.html\">Seatrade Maritime Logistics Middle East<\/a>, Dubai, UAE.<\/p>\n<p>29-31 May (Monday-Wednesday): <a href=\"https:\/\/www.evinnovationsummit.com\">Electric Vehicle Innovation Summit<\/a>, 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>, 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, UAE.<\/p>\n<p>4 October (Wednesday): Arabia CSR Gala Awarding Ceremony, UAE.<\/p>\n<p><strong>NOVEMBER 2023<\/strong><\/p>\n<p>30 November - 12 December: <a href=\"https:\/\/unfccc.int\/\">Conference of the Parties (COP 28)<\/a>, Dubai, UAE.<\/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":75772,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-75771","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"7766ed43-2cee-4114-9f77-cba44cb515ae","teaser":"","photo_url":"https:\/\/ent.news\/2021\/2\/475.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>GCC investment in India\u2019s Adani Enterprises\u2019 green finance-focused secondary offering goes south - Climate<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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