{"id":75931,"date":"2023-02-08T02:03:38","date_gmt":"2023-02-08T02:03:38","guid":{"rendered":"https:\/\/enterpriseam.com\/climate\/?post_type=issue&#038;p=75931"},"modified":"2025-12-15T08:29:41","modified_gmt":"2025-12-15T08:29:41","slug":"ksas-pif-plans-a-fresh-usd-5-5-bn-green-bond-sale","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/climate\/issues\/ksas-pif-plans-a-fresh-usd-5-5-bn-green-bond-sale\/","title":{"rendered":"KSA\u2019s PIF plans a fresh USD 5.5 bn green bond sale"},"content":{"rendered":"<section id=\"75933\" 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=\"75933\">\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\/02\/08\/today-pif-has-a-new-usd-5-5-bn-green-bond-sale-in-the-pipeline-neoms-price-tag-jumped\/\">\r\n                            TODAY: PIF has a new USD 5.5 bn green bond sale in the pipeline + Neom\u2019s price tag jumped                        <\/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\/02\/08\/today-pif-has-a-new-usd-5-5-bn-green-bond-sale-in-the-pipeline-neoms-price-tag-jumped\/\" 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 planned issuance follows PIF\u2019s maiden issuance last October, which had also seen the sale of the world\u2019s first-ever 100-year green note. Elsewhere in the kingdom, a transcript from US gas supplier Air Products\u2019 1Q 2023 earnings call has revealed that Neom\u2019s mega green hydrogen project will need an additional USD 3.5 bn in capital, bringing the plant\u2019s updated price tag up to USD 8.5 bn.<strong> We have chapter and verse on this story in the news well below.<\/strong><\/p>\n<p><strong>THE BIG CLIMATE STORY OUTSIDE THE REGION- <\/strong><strong>Oil giant BP is once again drawing the<\/strong><strong> ire of climate activists as it walks back on plans to cut fossil fuel output<\/strong>, after reporting <a href=\"https:\/\/www.bp.com\/en\/global\/corporate\/news-and-insights\/press-releases\/fourth-quarter-2022-results.html\">record earnings<\/a> yesterday of some USD 28 bn for 2022, off the back of surging energy prices. The company is scaling back plans to cut oil output as part of a much-touted renewables drive put forward by CEO Bernard Looney. It\u2019s now targeting production of some 2 mn barrels of oil equivalent\/ day by 2030 \u2014 down 25% from 2019 levels, compared with its previous 40% reduction target.<\/p>\n<p><strong>Looney claims that BP is meeting an energy security need: <\/strong>\u201cWe need lower carbon energy, but we also need secure energy, and we need affordable energy. And that's what governments and society around the world are asking for,\u201d Looney is said to have told analysts.<\/p>\n<p><strong>Big talk about renewables is still on the table: <\/strong>BP reiterated its plans to increase annual spending in both cleaner energy and fossil fuels by USD 1 bn. Its renewables push will put more of a focus on using solar and wind power to generate biofuels and low-carbon hydrogen, Looney reportedly said.<\/p>\n<p><strong>The story is attracting widespread coverage in the international press:<\/strong> <a href=\"https:\/\/www.reuters.com\/business\/energy\/bp-profits-soar-record-28-bln-dividend-increased-2023-02-07\/\">Reuters<\/a> | <a href=\"https:\/\/www.ft.com\/content\/419f137c-3a83-4c9c-9957-34b6609bcdf7\">Financial Times<\/a> | <a href=\"https:\/\/www.washingtonpost.com\/business\/2023\/02\/07\/bp-climate-emissions-oil-profits\/\">Washington Post<\/a> | <a href=\"https:\/\/www.wsj.com\/articles\/bp-q4-earnings-report-2022-11675755432\">Wall Street Journal<\/a> | <a href=\"https:\/\/www.bbc.com\/news\/business-64544110\">BBC<\/a> | <a href=\"https:\/\/www.theguardian.com\/business\/2023\/feb\/07\/bp-profits-windfall-tax-gas-prices-ukraine-war\">Guardian<\/a> | <a href=\"https:\/\/abcnews.go.com\/International\/wireStory\/uk-energy-company-bps-profits-double-277-billion-96941476\">ABC News<\/a> | <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-02-07\/bp-mulls-deals-to-expand-oil-and-gas-production-amid-profit-boom?utm_source=google&utm_medium=bd&cmpId=google#xj4y7vzkg\">Bloomberg<\/a> | <a href=\"https:\/\/www.washingtonpost.com\/politics\/uk-energy-company-bps-profits-double-to-277-billion\/2023\/02\/07\/3cbe5b0a-a6b9-11ed-b2a3-edb05ee0e313_story.html\">Washington Post<\/a> | <a href=\"https:\/\/www.reuters.com\/breakingviews\/bp-strategy-is-still-caught-between-two-stools-2023-02-07\/\">Reuters<\/a> | <a href=\"https:\/\/www.cnbc.com\/2023\/02\/07\/bp-earnings-q4-and-fy-2022.html\">CNBC<\/a><\/p>\n<hr class=\"grey-line\">\n<p><strong>IN COP LAND- COP28 President Sultan Al Jaber hit all the high COP discussion <\/strong><strong>points in a speech at <\/strong><strong><a href=\"https:\/\/www.indiaenergyweek.com\/\">India Energy Week<\/a><\/strong><strong> in Bengaluru this week<\/strong>, <a href=\"http:\/\/wam.ae\/en\/details\/1395303125843\">Wam<\/a> notes. Al Jaber argued for policies to support growth and climate objectives to \u201chold back emissions, not progress\u201d while advocating for a massive increase in renewable energy capacity, continued investment in decarbonization tools like carbon capture, and the importance of a just and inclusive energy transition.<\/p>\n<p><strong>Bringing the energy industry on board \u201cis not a conflict of interest\u201d: <\/strong>Al Jaber also indirectly addressed the criticism that climate activists and Western media outlets <a href=\"https:\/\/edition.cnn.com\/2023\/01\/12\/world\/cop28-uae-sultan-al-jaber-president-climate-intl\/index.html\">have leveled<\/a> at the decision to appoint him as COP28 President, saying he will use his experience and network to spur the entire energy industry to climate action.<\/p>\n<hr class=\"grey-line\">\n<p><a class=\"content-anchor\" id=\"tldr-story-05\"><\/a> <strong>WATCH THIS SPACE #1- Fund managers are shifting away from <\/strong><strong>indexes once seen as a safe climate wager:<\/strong> A swathe of Paris-aligned and climate transition benchmarks \u2014 designed to help fund managers track clean assets \u2014 have been downgraded in recent months, leading some investors to use their own benchmarks in a bid to find assets that support the transition to a low-carbon future, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-02-07\/fund-bosses-start-turning-backs-on-esg-indexes-after-downgrades?srnd=green-esg-investing#xj4y7vzkg\">Bloomberg<\/a> reports.<\/p>\n<p><strong>Why the downgrade? Because the indexes don\u2019t necessarily get top EU ESG <\/strong><strong>classification:<\/strong> Until late-2022, funds operated on the assumption that these benchmarks fell under the EU\u2019s top ESG classification, <a href=\"https:\/\/www2.deloitte.com\/content\/dam\/Deloitte\/ie\/Documents\/Audit\/IE_SustainableFinanceDisclosureReg_Article9.pdf\">Article 9 (pdf)<\/a> \u2014 for \u201cproducts targeting sustainable investments.\u201d But amid a wave of uncertainty over the definition of sustainable investment \u2014 and a reported lack of clarity from the EU \u2014 many fund and asset managers have chosen to downgrade benchmarks that haven\u2019t been specifically designated Article 9 to avoid legal and reputational risk, according to sustainable finance website <a href=\"https:\/\/www.responsible-investor.com\/passive-downgrades-drive-great-reclassification-of-article-9-funds\/\">Responsible Investor<\/a>. A \u201cgreat reclassification\u201d of Article 9 funds has been \u201clargely driven by downgrades of passive funds, especially Paris-aligned and climate transition benchmarks,\u201d the finance outlet notes, citing recent data from US financial services firm <a href=\"https:\/\/www.morningstar.co.uk\/uk\/news\/231438\/esg-fund-downgrade-accelerates.aspx\">Morningstar<\/a>.<\/p>\n<hr class=\"grey-line\">\n<p><a class=\"content-anchor\" id=\"tldr-story-06\"><\/a> <strong>WORTH READING- Could a green subsidy race give decarbonization a boost?<\/strong> Green subsidies from the world\u2019s largest economies could be the best way to lower carbon emissions \u2014 second only to prohibitive carbon taxes \u2014 as it will level the playing field and boost nascent technology development, a commentary published on <a href=\"https:\/\/www.reuters.com\/breakingviews\/green-subsidy-race-may-be-what-world-needs-2023-02-06\/\">Reuters<\/a> argues. The caveat is high carbon taxes and subsidizing renewables shouldn\u2019t be mutually exclusive, as evidenced by countries like the US and China heavily subsidizing renewables with little to no carbon taxes.<\/p>\n<p><strong>A subsidy race between the US, China and the EU can benefit everyone: <\/strong>While subsidies are only second best to carbon taxes \u2014 with some of the challenges of subsidizing green tech including increasing government spending and inefficient resource allocation \u2014 a renewable subsidy race between the world\u2019s three biggest blocks can help create economies of scale and lower the costs of nascent technologies. Adjustments to the green subsidy policies and protectionist measures put up by the big three blocks can help to ensure a more level playing field, especially for the Global South. Decarbonization efforts being conducted between the Global North and the Global South, as well as \u201cfriendshoring,\u201d could help technology transfer to create more opportunities for smaller economies.<\/p>\n<hr class=\"grey-line\">\n<p><strong>SOUNDBITE OF THE WEEK- No net-zero plans? You shouldn\u2019t be in business, Guterres says:<\/strong> \"Your core product is our core problem,\u201d United Nations Secretary-General Antonio Guterres <a href=\"https:\/\/www.reuters.com\/world\/2023-un-chief-amplifies-warnings-ukraine-climate-2023-02-06\/\">said during his speech<\/a> to the UN General Assembly this week. Guterres also pointed out the world\u2019s need for a renewables push instead of an expansion of fossil fuel production and a hunt for income, saying fossil fuel producers lacking adequate carbon-neutrality targets and carbon reduction goals for 2025 and 2030 \u201cshould not be in business.\u201d<\/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.<br \/>\n <strong>***<\/strong><\/p>\n<p><strong>COME TO OUR NEXT ENTERPRISE FORUM- <\/strong><\/p>\n<p class='web-image'><img decoding=\"async\" data-recalc-dims=\"1\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/2\/Export-FDI-Forum_1600.jpg?ssl=1\" alt='enterprise'><\/p>\n<p><strong>We\u2019re excited to unveil our next C-level event: <\/strong>The Enterprise Exports & FDI Forum, where we will take a deep dive into two of the most critical topics affecting our community.<\/p>\n<p><strong>Exports and foreign direct investment (FDI) have never been more important to our economy<\/strong> \u2014 or our businesses \u2014 than in the wake of the float of the EGP. <a href=\"https:\/\/enterprise.press\/issues\/2022\/10\/18\/am-a-five-step-recipe-to-boost-exports-fdi-and-make-sure-egypt-never-has-to-ask-the-imf-for-another-cent\/\">We think we have a once-in-a-lifetime chance to build an export-led economy<\/a> that makes us a magnet for FDI and all the benefits that will come with it for our nation.<\/p>\n<p><strong>Want to join the conversation?<\/strong> Drop us a line on <a href=\"mailto:events@enterprisemea.com\">events@enterprisemea.com<\/a>.<\/p>\n<p><strong>CIRCLE YOUR CALENDAR- <\/strong><\/p>\n<p><strong>Egypt will host the <\/strong><strong><a href=\"https:\/\/www.egyps.com\/\">Egypt Petroleum Show<\/a><\/strong> <strong>from Monday, 13 February to <\/strong><strong>Wednesday 15 February<\/strong> in Cairo. Under the theme \u201cSupporting Sustainable Global Energy Supply and Demand,\u201d the event will host talks on sustainable development, how climate change impacts oil and gas production, and decarbonization for net zero targets.<\/p>\n<p><strong>The UAE will host the <\/strong><strong><a href=\"https:\/\/www.iaea.org\/events\/regcon2023\">International Conference on Effective Nuclear and Radiation<\/a><\/strong><strong><a href=\"https:\/\/www.iaea.org\/events\/regcon2023\">Regulatory Systems<\/a><\/strong><strong> from Monday, 13 February to 26 February<\/strong> in Abu Dhabi. This conference will host discussions on improving the effectiveness of nuclear and radiation regulatory systems and building resilience and agility in response to emerging challenges.<\/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>The first <\/strong><strong><a href=\"https:\/\/mbrsic.ae\/en\/mena-sc\/about-mena-sc\/\">MENA Solar Conference<\/a><\/strong><strong> is accepting applications from published<\/strong><strong> researchers specialized in PV technology until Sunday, 30 April.<\/strong> The Dubai Electricity and Water Authority will be hosting the conference from 15 to 18 November, in conjunction with the Water, Energy, Technology, and Environment Exhibition and the Dubai Solar Show 2023. Researchers can submit their papers <a href=\"https:\/\/mbrsic.ae\/en\/mena-sc\/paper-submission-1\/\">here<\/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><\/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\/cop28\/\">COP28<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/saudi-arabia\/\">Saudi Arabia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/uae\/\">UAE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/what-were-tracking-today\/\">WHAT WE\u2019RE TRACKING TODAY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"75935\" 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=\"75936\" 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=\"75936\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">2<\/div>\r\n\r\n                    <p class=\"f-graphik\">DEBT WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/climate\/2023\/02\/08\/pif-is-prepping-its-second-green-bond-sale\/\">\r\n                            PIF is prepping its second green bond sale                        <\/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\/02\/08\/pif-is-prepping-its-second-green-bond-sale\/\" 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\/02\/08\/pif-is-prepping-its-second-green-bond-sale\/')\">\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\/02\/08\/pif-is-prepping-its-second-green-bond-sale\/\">\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=PIF is prepping its second green bond sale&url=https:\/\/enterpriseam.com\/climate\/2023\/02\/08\/pif-is-prepping-its-second-green-bond-sale\/\">\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\/02\/08\/pif-is-prepping-its-second-green-bond-sale\/&title=PIF is prepping its second green bond sale\">\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=PIF+is+prepping+its+second+green+bond+sale+https%3A%2F%2Fenterpriseam.com%2Fclimate%2F2023%2F02%2F08%2Fpif-is-prepping-its-second-green-bond-sale%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\/02\/08\/pif-is-prepping-its-second-green-bond-sale\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2020\/11\/231.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"75937\" data-permalink=\"https:\/\/enterpriseam.com\/climate\/2023\/02\/08\/pif-is-prepping-its-second-green-bond-sale\/231-jpg-3\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/11\/231.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"231.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/11\/231.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/11\/231.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-75936\" class=\"content-area-description single-story post-75936 post type-post status-publish format-standard has-post-thumbnail hentry category-debt-watch tag-debt-watch tag-enterpriseclimate tag-green-bond tag-pif 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-08\"><\/a> <strong>KSA\u2019s PIF plans fresh USD 5.5 bn green bond issuance:<\/strong> The Public Investment Fund (PIF), Saudi Arabia\u2019s sovereign wealth fund, is reportedly planning to sell USD 5.5 bn of green bonds, <a href=\"https:\/\/www.reuters.com\/markets\/rates-bonds\/saudi-arabias-pif-selling-three-tranche-dollar-green-bonds-2023-02-07\/#:~:text=DUBAI%2C%20Feb%207%20(Reuters),the%20deal%20said%20on%20Tuesday.\">Reuters<\/a> reports, citing an investment bank working on the issuance. The planned sale would be PIF\u2019s second green bond issuance in four months, the newswire notes, after it took its maiden issuance to market <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/29128c1e-0d05-4a99-b8e2-f05247e4258d\">in October<\/a>. No details on the expected timeline of the sale were disclosed.<\/p>\n<p><strong>The details:<\/strong> PIF plans to sell USD 1.75 bn of seven-year notes at 115 bps over US Treasuries, USD 2 bn in 12-year bonds at 145 bps over USD Treasures, and a third USD 1.75 bn tranche of 30-year bonds carrying an interest rate of 185 bps over US Treasuries. \u201cEach tranche will be of benchmark size, which typically means at least USD 500 mn,\u201d Reuters reports.<\/p>\n<p><strong>There\u2019s already strong appetite:<\/strong> The offering is c.5.9x oversubscribed, with a combined USD 32.5 bn in orders, according to the investment bank. The seven-year notes drew in USD 15.2 bn in orders, while the 12-year notes drew more than USD 9.8 bn in orders, and the 30-year tranche saw USD 7.5 bn in orders, Reuters reports.<\/p>\n<p><strong>That appetite was broadly expected, following a strong 2022 for MENA\u2019s green debt market:<\/strong> Following a \u201cpositive\u201d 2022 for MENA\u2019s ESG debt sales with strong investor interest in green instruments, 2023 is likely on track to see more issuances with healthy appetite, head of MENA Debt Capital Markets at HSBC Khaled Darwish <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/0042e226-6388-4f21-acbc-dfe6819222fa\">previously told Enterprise Climate<\/a>. The first six weeks of the year alone saw Saudi National Bank\u2019s maiden <a href=\"https:\/\/www.reuters.com\/world\/middle-east\/saudi-national-bank-debut-sustainable-sukuk-top-19-bln-orders-2022-01-12\/\">USD 750 mn ESG sukuk<\/a>, Saudi\u2019s Riyadh Bank <a href=\"https:\/\/www.riyadbank.com\/en\/information\/media-centre\/press-releases\/2022\/09-02-2022\">USD 750 mn<\/a> issuance of its first Tier 1 capital instrument as a sustainable sukuk, and Abu Dhabi\u2019s Sweihan PV Power Company <a href=\"https:\/\/www.reuters.com\/markets\/asia\/abu-dhabi-solar-firm-sweihan-takes-orders-green-bonds-2022-01-13\/\">sale of amortizing green bonds<\/a> \u2014 which raised almost USD 701 mn \u2014 for its Noor Abu Dhabi solar plant project. The region\u2019s green debt market saw a lull for a few months as market turmoil hit on the back of the Russia-Ukraine war, but the second half of the year came back strong with issuances including Morocco\u2019s local rail operator Office National des Chemins de Fer du Maroc issuing the country\u2019s <a href=\"https:\/\/www.ebrd.com\/news\/2022\/ebrd-invests-in-first-green-infrastructure-bond-in-morocco.html\">first green infrastructure bond of MAD 1 bn<\/a> (roughly USD 95 mn). Abu Dhabi Commercial Bank also raised USD 500 mn through its first-ever green bond sale <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/039de4e2-7078-4457-8904-11d3d4430560\">in September<\/a>, while Dubai Islamic Bank sold USD 750 mn of its debut sustainable sukuk <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/6e6ee2c2-c2c7-4f60-93cd-237f2f8b0999\">in November<\/a>.<\/p>\n<p><strong>Advisors:<\/strong> Goldman Sachs, JPMorgan, and Standard Chartered Bank are joint global coordinators on the sale, while BofA Securities, BNP Paribas, Citi, First Abu Dhabi Bank, HSBC, and Morgan Stanley are active bookrunners. Credit Agricole, GIB Capital, ICBC International Securities, Mizuho, SMBC Nikko, and Societe Generale have also been tapped as passive bookrunners, according to Reuters.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/debt-watch\/\">DEBT WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/green-bond\/\">Green bond<\/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=\"75938\" 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=\"75938\">\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\">INVESTMENT WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/climate\/2023\/02\/08\/neoms-mega-green-hydrogen-plants-price-tag-went-up-by-usd-3-5-bn\/\">\r\n                            Neom\u2019s mega green hydrogen plant\u2019s price tag went up by USD 3.5 bn                        <\/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\/02\/08\/neoms-mega-green-hydrogen-plants-price-tag-went-up-by-usd-3-5-bn\/\" 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\/02\/08\/neoms-mega-green-hydrogen-plants-price-tag-went-up-by-usd-3-5-bn\/')\">\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\/02\/08\/neoms-mega-green-hydrogen-plants-price-tag-went-up-by-usd-3-5-bn\/\">\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=Neom\u2019s mega green hydrogen plant\u2019s price tag went up by USD 3.5 bn&url=https:\/\/enterpriseam.com\/climate\/2023\/02\/08\/neoms-mega-green-hydrogen-plants-price-tag-went-up-by-usd-3-5-bn\/\">\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\/02\/08\/neoms-mega-green-hydrogen-plants-price-tag-went-up-by-usd-3-5-bn\/&title=Neom\u2019s mega green hydrogen plant\u2019s price tag went up by USD 3.5 bn\">\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=Neom%E2%80%99s+mega+green+hydrogen+plant%E2%80%99s+price+tag+went+up+by+USD+3.5+bn+https%3A%2F%2Fenterpriseam.com%2Fclimate%2F2023%2F02%2F08%2Fneoms-mega-green-hydrogen-plants-price-tag-went-up-by-usd-3-5-bn%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\/02\/08\/neoms-mega-green-hydrogen-plants-price-tag-went-up-by-usd-3-5-bn\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/2\/674.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"75939\" data-permalink=\"https:\/\/enterpriseam.com\/climate\/2023\/02\/08\/neoms-mega-green-hydrogen-plants-price-tag-went-up-by-usd-3-5-bn\/674-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/2\/674.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"674.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/2\/674.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/2\/674.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-75938\" class=\"content-area-description single-story post-75938 post type-post status-publish format-standard has-post-thumbnail hentry category-investment-watch tag-enterpriseclimate tag-green-hydrogen tag-investment-watch tag-neom tag-renewables tag-saudi-arabia tag-usa wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-01\"><\/a> <strong>Neom\u2019s mega green hydrogen project needs more capital: <\/strong>Saudi Arabia\u2019s Neom green hydrogen project \u2014 a JV between <a href=\"https:\/\/www.neom.com\/en-us\">Neom<\/a>, US-based gas supplier <a href=\"https:\/\/www.airproducts.com\/\">Air Products<\/a> and Saudi Arabia\u2019s <a href=\"https:\/\/www.acwapower.com\/en\/\">Acwa Power<\/a> \u2014 will need additional capital injections to the tune of USD 3.5 bn, Air Products said in its 1Q 2023 earnings call, according to a <a href=\"https:\/\/investors.airproducts.com\/static-files\/728ddf57-3687-42ed-836a-a836aef30441\">transcript (pdf)<\/a>. The overall estimated price tag for the project has been adjusted upward to USD 8.5 bn from the original USD 5 bn due to rising inflation, advance payments for land rights, and USD 1 bn of interest payments on loans to fund the project, the company said.<\/p>\n<p><strong>The breakdown in added expenses:<\/strong> The US-based gas supplier attributes USD 500 mn to surging inflation, USD 1.2 bn to be disbursed to push down the project\u2019s operating expenses and ensure the project\u2019s self-sufficiency, and an additional USD 1.8 bn needed for project financing costs, upfront fees, interest during construction, and additional joint venture costs, among other expenses.<\/p>\n<p><strong>The JV is also revising its investment structure:<\/strong> Air Products is investing approximately USD 800 mn in cash instead of the original USD 1.7 bn it had earmarked for the project, according to the call transcript. The JV will now fund the project with 25% cash and 75% debt financing. The project is 2x oversubscribed with over 20 international financial institutions committed to bankrolling the green hydrogen project, Air Products said, without disclosing the names of the project\u2019s financiers.<\/p>\n<p><strong>The revised price tag isn\u2019t holding the project back, though:<\/strong> Saudi Arabia\u2019s Industry and Mineral Resources Ministry issued an <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/3ae0cf32-b419-4e14-9f37-e57be4578fd6\">industrial operating license<\/a> for the Neom Green Hydrogen Company, and all major subcontracts for the project have also been awarded and construction already underway with 30% of engineering works for the hydrogen plant completed, Air Products noted on the call.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/green-hydrogen\/\">green hydrogen<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/investment-watch\/\">INVESTMENT WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/neom\/\">Neom<\/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\/usa\/\">USA<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"75940\" 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=\"75940\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">4<\/div>\r\n\r\n                    <p class=\"f-graphik\">RENEWABLES<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/climate\/2023\/02\/08\/masdar-sets-up-shop-in-azerbaijan-the-uaes-taqa-may-lend-a-hand-with-transmitting-renewable-energy\/\">\r\n                            Masdar sets up shop in Azerbaijan + the UAE\u2019s Taqa may lend a hand with transmitting renewable energy                        <\/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\/02\/08\/masdar-sets-up-shop-in-azerbaijan-the-uaes-taqa-may-lend-a-hand-with-transmitting-renewable-energy\/\" 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\/02\/08\/masdar-sets-up-shop-in-azerbaijan-the-uaes-taqa-may-lend-a-hand-with-transmitting-renewable-energy\/')\">\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\/02\/08\/masdar-sets-up-shop-in-azerbaijan-the-uaes-taqa-may-lend-a-hand-with-transmitting-renewable-energy\/\">\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=Masdar sets up shop in Azerbaijan + the UAE\u2019s Taqa may lend a hand with transmitting renewable energy&url=https:\/\/enterpriseam.com\/climate\/2023\/02\/08\/masdar-sets-up-shop-in-azerbaijan-the-uaes-taqa-may-lend-a-hand-with-transmitting-renewable-energy\/\">\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\/02\/08\/masdar-sets-up-shop-in-azerbaijan-the-uaes-taqa-may-lend-a-hand-with-transmitting-renewable-energy\/&title=Masdar sets up shop in Azerbaijan + the UAE\u2019s Taqa may lend a hand with transmitting renewable energy\">\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=Masdar+sets+up+shop+in+Azerbaijan+%2B+the+UAE%E2%80%99s+Taqa+may+lend+a+hand+with+transmitting+renewable+energy+https%3A%2F%2Fenterpriseam.com%2Fclimate%2F2023%2F02%2F08%2Fmasdar-sets-up-shop-in-azerbaijan-the-uaes-taqa-may-lend-a-hand-with-transmitting-renewable-energy%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\/02\/08\/masdar-sets-up-shop-in-azerbaijan-the-uaes-taqa-may-lend-a-hand-with-transmitting-renewable-energy\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/10\/296.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"75941\" data-permalink=\"https:\/\/enterpriseam.com\/climate\/2023\/02\/08\/masdar-sets-up-shop-in-azerbaijan-the-uaes-taqa-may-lend-a-hand-with-transmitting-renewable-energy\/296-jpg-2\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/10\/296.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"296.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/10\/296.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/10\/296.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-75940\" class=\"content-area-description single-story post-75940 post type-post status-publish format-standard has-post-thumbnail hentry category-renewables tag-azerbaijan tag-enterpriseclimate tag-renewables tag-solar tag-uae tag-wind-energy wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-02\"><\/a> <strong>UAE renewables developer Masdar is expanding operations in Azerbaijan by <\/strong><strong>establishing a base of operations in Baku<\/strong>, according to a company <a href=\"https:\/\/news.masdar.ae\/en\/Press-Release?News\/2023\/02\/06\/09\/34\/Masdar-Opens-Office-in-Azerbaijan\">statement<\/a>. The new base is part of the company\u2019s plan to expand operations in the country and increase its capacity and scope of work in the country, Chairman Sultan Al Jaber says in the statement.<\/p>\n<p><strong>Masdar has a pipeline exceeding 10 GW in the works: <\/strong>Masdar signed an agreement with Azerbaijan\u2019s state oil firm SOCAR to develop renewables projects with a combined capacity of 4 GW <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/31f58be3-40c9-4a20-ba7a-6313958ca187\">in January<\/a>. These include the joint development of offshore wind energy and hydrogen projects with a capacity of 2 GW, solar photovoltaic energy projects with a capacity of 1 GW, and 1 GW of onshore wind energy. This forms part of a broader agreement between the clean energy firm and Azerbaijan\u2019s Energy Ministry to build a renewables program with a total capacity of 10 GW, \u201cacross multiple technologies,\u201d the statement notes. Masdar <a href=\"https:\/\/news.masdar.ae\/en\/News\/2022\/08\/02\/10\/43\/Masdar-Achieves-Financial-Close-on-Landmark-230-MW-Garadagh\">reached financial close<\/a> in August for the 230 MW Garadagh solar PV plant \u2014 its first project in the Central Asian country \u2014 due to begin commercial operation in 2023.<\/p>\n<p><strong>Azerbaijan has been angling for green FDI: <\/strong>The country signed a cooperation agreement for a <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/dedf7d18-da3d-4901-adb5-2a1d77be0b1d\">1.5 GW<\/a> offshore wind project with Tadawul-listed Acwa Power earlier this week and broke ground on a <a href=\"https:\/\/acwapower.com\/en\/projects\/azerbaijan-wind-ipp\/\">240 MW<\/a> wind project with the KSA energy giant last month. The projects are part of a partnership to build wind farms with a combined capacity of 2.5 GW and develop the country\u2019s first battery storage systems. Egypt\u2019s President Abdel Fattah El Sisi <a href=\"https:\/\/press.us9.list-manage.com\/track\/click?u=3f7bc576715ca1a70edef2788&id=76d6e1c719&e=05dac286dc\">met<\/a> with his Azerbaijani counterpart Ilham Aliyev last week to discuss cooperation on renewable energy and Egypt\u2019s renewables and hydrogen generation capacity on his first state visit to the country.<\/p>\n<p><strong>The UAE may be throwing in help to integrate renewable energy on the grid: <\/strong>Chairman of the Board of Azerbaijani Energy Regulatory Agency met with the transmission and distribution executive director of UAE\u2019s state-owned Taqa this week to discuss the integration of renewable energy sources into the country\u2019s energy network, according to <a href=\"https:\/\/www.azernews.az\/business\/205985.html\">AzerNews<\/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\/azerbaijan\/\">Azerbaijan<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/renewables\/\">renewables<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/solar\/\">SOLAR<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/uae\/\">UAE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/wind-energy\/\">Wind Energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"75942\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"75943\" 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=\"75943\">\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\">ALSO ON OUR RADAR<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/climate\/2023\/02\/08\/egypt-explores-cooperation-with-siemens-on-renewables\/\">\r\n                            Egypt explores cooperation with Siemens on renewables                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/climate\/2023\/02\/08\/egypt-explores-cooperation-with-siemens-on-renewables\/\" 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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Siemens Gamesa \u2014 a subsidiary of Siemens Energy \u2014 is a major player in Egypt\u2019s wind energy sector, and is involved in the <a href=\"https:\/\/enterprise.press\/stories\/2020\/06\/28\/siemens-to-announce-lekela-wind-farm-electric-works-bid-winner-next-month-17626\/\">Ras Ghareb<\/a>, <a href=\"https:\/\/enterprise.press\/stories\/2019\/10\/16\/siemens-gamesa-starts-work-on-lekelas-250-mw-west-bakr-wind-plant\/\">West Bakr<\/a>, and <a href=\"https:\/\/enterprise.press\/stories\/2021\/02\/22\/siemens-wants-all-the-wind-projects-32931\/\">Gabal El Zeit<\/a> projects in the Gulf of Suez.<\/p>\n<p><strong>Siemens has been making moves in MENA\u2019s clean fuel market<\/strong>: Siemens energy partnered with Masdar, Marubeni, and TotalEnergies <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/db788017-f43b-4cf1-bd7c-1965c2b9dd71\">last month<\/a> to obtain licenses certifying the feasibility of producing sustainable aviation fuel from methanol gas.<\/p>\n<p><strong>OTHER STORIES WORTH KNOWING ABOUT THIS MORNING-<\/strong><\/p>\n<ul>\n<li><strong>Saudi\u2019s Jameel Motors <\/strong>will now distribute <strong>MG Motor cars in Morocco<\/strong> including <strong>electric and plug-in hybrid models<\/strong>. (<a href=\"https:\/\/www.zawya.com\/ar\/%D8%A7%D9%84%D8%A8%D9%8A%D8%A7%D9%86%D8%A7%D8%AA-%D8%A7%D9%84%D8%B5%D8%AD%D9%81%D9%8A%D8%A9\/%D8%A8%D9%8A%D8%A7%D9%86%D8%A7%D8%AA-%D8%A7%D9%84%D8%B4%D8%B1%D9%83%D8%A7%D8%AA\/%D8%A5%D9%85-%D8%AC%D9%8A-%D9%85%D9%88%D8%AA%D9%88%D8%B1-%D8%AA%D9%88%D9%82%D8%B9-%D8%A7%D8%AA%D9%81%D8%A7%D9%82%D9%8A%D8%A9-%D8%AA%D9%88%D8%B2%D9%8A%D8%B9-%D9%85%D8%B9-%D8%AC%D9%85%D9%8A%D9%84-%D9%85%D9%88%D8%AA%D8%B1%D8%B2-%D9%84%D8%AA%D9%88%D9%81%D9%8A%D8%B1-%D8%B3%D9%8A%D8%A7%D8%B1%D8%A7%D8%AA%D9%87%D8%A7-%D9%81%D9%8A-%D8%A7%D9%84%D9%85%D8%BA%D8%B1%D8%A8-viavgtwo\">Zawya<\/a>)<\/li>\n<li><strong>The Tunisian Association of Energy, Water and Environment<\/strong> and the <strong>International Union for Conservation of Nature<\/strong> will fund a TND 97k <strong>oasis restoration project<\/strong> in Kebili, Tunis. The project will be implemented within 18 months. (<a href=\"https:\/\/www.tap.info.tn\/en\/Portal-Economy\/15978192-tunisian\">Tunis Afrique Presse<\/a>)<\/li>\n<li><strong>Aramco <\/strong>has made a sustainability-focused investment of<strong> USD 300 mn in VC <\/strong><strong>fund Wa\u2019ed Ventures<\/strong> to increase ESG funding and has announced a strategic partnership to build <strong>Zoom\u2019s first global data center in Saudi Arabia<\/strong> to explore innovative tech solutions and the digital transformation of the energy sector. (<a href=\"https:\/\/www.aramco.com\/en\/news-media\/news\/2023\/aramco-makes-two-major-announcements-at-leap-2023\">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\/aramco\/\">Aramco<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/carbon-footprint\/\">carbon footprint<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/egypt\/\">Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/evs\/\">EVs<\/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\/siemens-energy\/\">Siemens Energy<\/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                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/water\/\">water<\/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=\"75945\" 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=\"75945\">\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\">AROUND THE WORLD<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/climate\/2023\/02\/08\/china-issues-flight-permit-for-xpengs-evtol-flying-tests\/\">\r\n                            China issues flight permit for Xpeng\u2019s eVTOL flying tests                        <\/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\/02\/08\/china-issues-flight-permit-for-xpengs-evtol-flying-tests\/\" 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\/02\/08\/china-issues-flight-permit-for-xpengs-evtol-flying-tests\/')\">\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\/02\/08\/china-issues-flight-permit-for-xpengs-evtol-flying-tests\/\">\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=China issues flight permit for Xpeng\u2019s eVTOL flying tests&url=https:\/\/enterpriseam.com\/climate\/2023\/02\/08\/china-issues-flight-permit-for-xpengs-evtol-flying-tests\/\">\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\/02\/08\/china-issues-flight-permit-for-xpengs-evtol-flying-tests\/&title=China issues flight permit for Xpeng\u2019s eVTOL flying tests\">\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=China+issues+flight+permit+for+Xpeng%E2%80%99s+eVTOL+flying+tests+https%3A%2F%2Fenterpriseam.com%2Fclimate%2F2023%2F02%2F08%2Fchina-issues-flight-permit-for-xpengs-evtol-flying-tests%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\/02\/08\/china-issues-flight-permit-for-xpengs-evtol-flying-tests\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/10\/4348.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"75946\" data-permalink=\"https:\/\/enterpriseam.com\/climate\/2023\/02\/08\/china-issues-flight-permit-for-xpengs-evtol-flying-tests\/4348-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/10\/4348.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"4348.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/10\/4348.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/10\/4348.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-75945\" class=\"content-area-description single-story post-75945 post type-post status-publish format-standard has-post-thumbnail hentry category-around-the-world tag-around-the-world tag-china tag-enterpriseclimate tag-evs 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-04\"><\/a> <strong>China gives eVTOL maker greenlight to take off:<\/strong> The Civil Aviation Administration of China has granted Chinese firm <a href=\"https:\/\/heyxpeng.com\/\">XPeng Inc<\/a>\u2019s electric take-off and landing (eVTOL) aircraft a special flight permit for flying tests, according to a <a href=\"https:\/\/mp.weixin.qq.com\/s\/Fv8ff13CRlOUs-h2EFWI5A\">statement<\/a>. The permit allows the evTOL to fly under special conditions as part of a series of manned flying tests to gather data for future mass production. A prototype of the aircraft was unveiled during the Gitex tech show last October (<a href=\"https:\/\/youtu.be\/YamB77CYPe8?t=13\">watch runtime: 1:33<\/a>).<\/p>\n<p><strong>SOUND SMART-<\/strong> eVTOLS are drone-like aircraft that use electric propulsion and large omnidirectional fans to allow them <a href=\"https:\/\/www.mane.co.uk\/news\/what-are-evtols-288010\/\">to takeoff vertically<\/a> and to act like air taxis. They are meant to be energy efficient, quiet, environmentally friendly, and <a href=\"https:\/\/www.mckinsey.com\/industries\/automotive-and-assembly\/our-insights\/flying-cab-drivers-wanted\">eventually pilotless<\/a>. Beyond their applications as air taxis, the vehicles are expected to be able to operate on an inter-city basis and even be <a href=\"https:\/\/www.spartan.edu\/news\/what-is-evtol\/\">used for cargo shipping<\/a>.<\/p>\n<p><strong>The air mobility industry is getting attention in the region:<\/strong> Saudi Arabia\u2019s Neom recently invested USD 175 mn in German electric eVTOL vehicle maker <a href=\"https:\/\/www.volocopter.com\/\">Volocopter<\/a>, as part of a partnership that will see the two roll out an \u201cadvanced air mobility industry\u201d in KSA. KSA\u2019s national flag carrier Saudia also recently <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/83e28974-c493-421c-b05a-4b347d8d69fb\">signed<\/a> an agreement with Lilium to purchase 100 electric jets, while UAE-based charter flight operator Falcon Aviation Services <a href=\"https:\/\/eveairmobility.com\/eve-and-falcon-aviation-services-announce-partnership-to-introduce-evtol-flights-in-dubai\/\">is buying<\/a> up to 35 flying taxis from electric aircraft company <a href=\"https:\/\/ir.eveairmobility.com\/\">Eve Holding<\/a>, with deliveries expected to start in 2026.<\/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\/around-the-world\/\">AROUND THE WORLD<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/china\/\">China<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/evs\/\">EVs<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/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=\"75947\" 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=\"75947\">\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\/02\/08\/australian-researchers-use-salt-water-to-produce-green-hydrogen-at-a-cheaper-cost\/\">\r\n                            Australian researchers use salt water to produce green hydrogen at a cheaper cost                        <\/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\/02\/08\/australian-researchers-use-salt-water-to-produce-green-hydrogen-at-a-cheaper-cost\/\" 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 process \u2014 which bypasses costly water treatment procedures that hike the operational costs of hydrogen generation \u2014 will boost water conservation globally by minimizing the use of fresh water sources for green hydrogen production, researchers note.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/green-hydrogen\/\">green hydrogen<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/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\/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=\"75949\" 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\/02\/08\/75949\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-75949\" class=\"content-area-description single-story post-75949 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-Thursday) <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>7 February (Tuesday): <a href=\"https:\/\/www.ansamed.info\/ansamed\/en\/news\/sections\/transport\/2023\/01\/31\/cairo-forum-for-sustainable-maritime-transportation-funds_caa90a2e-f078-4a45-86f2-94f78b047b09.html\">Cairo Forum for Sustainable Maritime Transportation Funds<\/a>, Cairo, Egypt.<\/p>\n<p>13-15 February (Monday-Wednesday): <a href=\"https:\/\/www.worldgovernmentsummit.org\/home\">World Government Summit 2023<\/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 Exhibition<\/a>, 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>13-14 June (Tuesday- Wednesday) <a href=\"https:\/\/thearabgreensummit.com\/\">The Arab Green Summit<\/a>, Palazzo Versace Dubai, Dubai, UAE.<\/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":75932,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-75931","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"9fb86f31-bfd6-467b-ad2b-9d706063f72f","teaser":"","photo_url":"https:\/\/ent.news\/2019\/6\/moneymoneymoney-1600px.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>KSA\u2019s PIF plans a fresh USD 5.5 bn green bond sale - Climate<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/climate\/issues\/ksas-pif-plans-a-fresh-usd-5-5-bn-green-bond-sale\/\" \/>\n<meta property=\"og:locale\" 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