{"id":77329,"date":"2023-05-10T01:00:44","date_gmt":"2023-05-10T01:00:44","guid":{"rendered":"https:\/\/enterpriseam.com\/climate\/?post_type=issue&#038;p=77329"},"modified":"2025-12-15T08:54:49","modified_gmt":"2025-12-15T08:54:49","slug":"uaes-mensha-ventures-inks-usd-1-bn-green-energy-agreement-with-chinese-investors","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/climate\/issues\/uaes-mensha-ventures-inks-usd-1-bn-green-energy-agreement-with-chinese-investors\/","title":{"rendered":"UAE\u2019s Mensha Ventures inks USD 1 bn green energy agreement with Chinese investors"},"content":{"rendered":"<section id=\"77331\" 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=\"77331\">\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\/05\/10\/today-uaes-mensha-ventures-inks-agreement-worth-usd-1-bn-with-chinese-investors\/\">\r\n                            TODAY: UAE\u2019s Mensha Ventures inks agreement worth USD 1 bn with Chinese investors                        <\/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\/05\/10\/today-uaes-mensha-ventures-inks-agreement-worth-usd-1-bn-with-chinese-investors\/\" 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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Are you?<\/strong> Mostafa Bedair is going to be speaking on how Egypt needs to get the fundamentals right to be able to adapt to emerging industry trends. He is joined on stage for that discussion by <strong>Nadia El-Tawil,<\/strong> the investment officer at AfricInvest, and <strong>Abdallah Sallam,<\/strong> CEO of Madinet Masr, who will speak on how Egypt can make its products more competitive and how industries need to be open to evolution.<\/p>\n<p><strong>They\u2019re not the only ones:<\/strong> Among the top execs, bankers, and development finance folks speaking at the conference are (in no particular order): <strong>Yasmine Khamis,<\/strong> chair of the Orientals Group; <strong>Tarek Kamel<\/strong>, CEO of Nestle Egypt;<strong> Omar Elsahy<\/strong>, general manager of Amazon Egypt, <strong>Khaled Morsy<\/strong>, CEO of DB Schenker Egypt; <strong>Mark Wylie<\/strong>, CEO, Beyti; <strong>Shady William<\/strong>, managing director of IDG; <strong>Mohamed Talaat Khalifa<\/strong>, CEO of Concrete; <strong>Hossam Sallab<\/strong>, CEO and vice-chairman of Sallab Group and Royal Ceramica; <strong>Kareem Abou Ghaly<\/strong>, chairman and CEO of Pasta Regina; <strong>Tarek Hosny<\/strong>, head of investments and projects at Fertiglobe; <strong>Helmy Ghazi<\/strong>, deputy CEO of HSBC Egypt; <strong>Nada El Ahwal<\/strong>, CSO of Transmar; <strong>Hassan Massoud<\/strong>, associate director and head of private equity (Southern Mediterranean), European Bank for Reconstruction and Development (EBRD);<strong> Cheick-Oumar Sylla<\/strong>, director for North Africa and the Horn of Africa at the IFC; <strong>Hossam Abou Moussa<\/strong>, partner at Apis; <strong>Yassir Zouaoui<\/strong>, partner at McKinsey; and <strong>Mohamed El Gebely<\/strong>, team leader at USAID Trade.<\/p>\n<p><strong>Topics and live interviews will include:<\/strong><\/p>\n<ul>\n<li>Why exports and FDI are the way forward and what lessons have worked from around the world;<\/li>\n<li>How to attract foreign partners and figure out what they are looking for;<\/li>\n<li>What lessons can we draw from white goods, fertilizers, and garments exporters who have increased our exports;<\/li>\n<li>What are the fundamentals to creating an export and \/ or FDI strategy;<\/li>\n<li>What it takes to secure a place in a multinational\u2019s supply chain;<\/li>\n<li>How industrial clusters could expedite exports, FDI and possibly be an avenue for SME development.<\/li>\n<\/ul>\n<p><strong><a href=\"https:\/\/exportsfdi.enterprise.press\/index.html#agenda\">Tap or click here to explore the full agenda.<\/a><\/strong><\/p>\n<p>\n <strong>** Have you confirmed your attendance?<\/strong> Invitations have been sent out over the past few weeks. If you have yet to confirm your attendance and would still like to join us, please reply to the invitation with an RSVP.<\/p>\n<hr class=\"grey-line\">\n<p><strong>THE BIG CLIMATE STORY- <\/strong>UAE-based VC outfit Mensha Ventures has signed a non-binding agreement with a group of Chinese strategic partners to jointly invest USD 1 bn in green energy infrastructure in the region and Egypt\u2019s Bank of Alexandria inked a financing agreement with the European Investment Bank (EIB) for a USD 15 mn loan to finance green projects.<\/p>\n<p><strong>^^ <\/strong><strong>We have the details on these stories and more in the news well, below.<\/strong><\/p>\n<p><strong>HAPPENING TODAY- The <\/strong><strong><a href=\"https:\/\/moiat.gov.ae\/en\/uae-climate-tech\">UAE Climate Tech<\/a><\/strong><strong> forum is kicking off today and concluding <\/strong><strong>tomorrow <\/strong>in Abu Dhabi. The event will gather over 1k policymakers, CEOs, experts, and investors to discuss collaboration on innovative technologies and economic potential in advancing decarbonization across all sectors.<\/p>\n<hr class=\"grey-line\">\n<p><strong>THE BIG CLIMATE STORY OUTSIDE THE REGION- The Church of England will vote<\/strong><strong> against Shell\u2019s board next week over climate concerns: <\/strong>The Church of England\u2019s (CoE) Pension Board said yesterday it will join fellow minority shareholders in a coordinated vote at next week\u2019s annual general meeting (AGM). The vote is aimed at ousting Shell Chairman Andrew Mackenzie and the remainder of the oil giant\u2019s board over \u201csignals\u201d it would backtrack on climate commitments. Shell CEO Wael Sawan <a href=\"https:\/\/www.reuters.com\/markets\/commodities\/shell-reviewing-oil-gas-output-reduction-targets-ceo-tells-times-2023-03-03\/\">said in March<\/a> the company plans to pare back oil production by 1-2% by 2030 would be \u201creviewed\u201d in a bid to prioritize the company\u2019s performance and returns.<\/p>\n<p><strong>\u201cThrough our vote at Shell\u2019s AGM we are sending a signal about the importance we assign to the low-carbon transition,\u201d<\/strong> chief responsible investment officer at the CoE Pensions Board Adam Matthews wrote in an op-ed to <a href=\"https:\/\/www.telegraph.co.uk\/business\/2023\/05\/09\/why-the-church-of-england-is-taking-on-shell\/\">The Telegraph<\/a>. Shell\u2019s board \u2014 which notes it has been working with the CoE on energy transition for almost a decade \u2014 says its carbon neutrality target for \u201c2050 or before\u201d remains unchanged.<\/p>\n<p><strong>CoE joins a list of shareholders looking to hold oil execs accountable for weak climate targets: <\/strong>UK pension funds Borders to Coast and Britain\u2019s Universities Superannuation Scheme \u2014 two of Britain\u2019s largest pension schemes, overseeing a combined c. GBP 130 bn of assets \u2014 <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/f6479cae-8088-4aa8-92dd-8f4d017ec88d\">will vote against<\/a> the reappointment of several incumbent directors at energy giants Shell and BP at annual shareholder meetings unless they commit to stronger carbon reduction targets.<\/p>\n<p><strong>The story got coverage in the international press yesterday:<\/strong> <a href=\"https:\/\/www.reuters.com\/business\/sustainable-business\/proxy-adviser-pirc-recommends-vote-against-shells-chair-annual-report-2023-05-09\/\">Reuters<\/a> | <a href=\"https:\/\/www.theguardian.com\/business\/2023\/may\/09\/shell-shareholders-chair-pirc-andrew-mackenzie-agm\">The Guardian<\/a> | <a href=\"https:\/\/www.france24.com\/en\/live-news\/20230509-church-of-england-joins-shareholder-revolt-on-shell-climate-goals\">AFP<\/a> | <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-05-09\/church-of-england-to-vote-against-shell-chair-on-climate-issues\">Bloomberg<\/a><\/p>\n<hr class=\"grey-line\">\n<p><strong>WATCH THIS SPACE #1- Bahrain is looking to double its renewable energy target <\/strong><strong>to have renewables account for 20% of the country\u2019s total energy mix by 2035<\/strong>, <a href=\"https:\/\/www.thenationalnews.com\/business\/energy\/2023\/05\/08\/bahrain-aims-to-double-renewable-energy-targets-as-gulf-countries-step-up-production\/\">The National<\/a> quotes Bahrain\u2019s Electricity and Water Affairs Minister Yaser bin Ebrahim Humaidan as saying. \u201cWe are targeting net zero by 2060, 30% reduction in greenhouse gas emissions by 2035\u2026 doubling renewable energy targets to achieve 20% of the energy mix by 2035 and doubling the afforestation areas in Bahrain,\u201d he said during the World Utility Congress in Abu Dhabi.<\/p>\n<p><strong>Emissions in the crosshairs:<\/strong> The minister said his country is making progress in several areas where it is targeting net zero emissions by 2060. \u201cWe have engaged with several of the large industrial emitters and we have implemented a system of continuous emissions monitoring where we can monitor their emissions remotely, continuously and in real-time,\u201d he said, \"and that also enables us to have the ability to immediately detect any violations and take corrective action.\u201d<\/p>\n<hr class=\"grey-line\">\n<p><strong>WATCH THIS SPACE #2- Egypt plans to invest EGP 81.4 bn in the electricity and <\/strong><strong>renewable energy sector in FY 2023-2024<\/strong>, Planning Minister Hala El Said told the country\u2019s parliament yesterday, according to a <a href=\"https:\/\/bit.ly\/42ANivm\">statement<\/a>. 85% of the investment \u2014 EGP 69.4 mn \u2014 will be allocated to general investments, with no more details disclosed. The country\u2019s share of renewable energy production is expected to reach 11.8% of the total electricity generated in the next fiscal year, up from 8.8% in 2019.<\/p>\n<p><strong>WATCH THIS SPACE #3- EU countries lobby for fast-tracked hydrogen imports:<\/strong> Germany, Austria, and Italy are lobbying fellow EU member states to support a cluster of green hydrogen projects in North Africa in a bid to line up imports to the European market and wean the bloc off of Russian oil and gas, Reuters reports, citing a letter to the EU commission it has seen. The letter seeks to count Africa-based hydrogen projects toward the EU\u2019s Project of Common Interest status in a bid to fast track permits for the projects and grant EU funding to several green fuel projects, the newswire notes. If approved, the proposed bill would establish infrastructure connecting EU-based hydrogen production plants to North African imports.<\/p>\n<p><strong>WATCH THIS SPACE #4- US Democrats push for greater scrutiny on LNG:<\/strong> 44 lawmakers from the US Democratic National Party (DNC) are lobbying the White House\u2019s Council on Environmental Quality (CEQ) to increase scrutiny on the country\u2019s light natural gas (LNG) supply chain, <a href=\"https:\/\/www.reuters.com\/business\/sustainable-business\/democrats-press-biden-administration-climate-impact-lng-buildout-2023-05-08\/\">Reuters<\/a> reports, referencing an <a href=\"https:\/\/www.merkley.senate.gov\/imo\/media\/doc\/lng_letter1.pdf\">open letter<\/a> from DNC members to CEQ chair Brenda Mallory. DNC lawmakers\u2019 plea to revise the country\u2019s LNG strategy comes as the Biden administration works to finalize guidance on greenhouse gas output under US environmental legislation.<\/p>\n<p><strong>REMEMBER- Biden administration has been making headlines for supporting LNG <\/strong><strong>expansion: <\/strong>Back in March, the US Interior Department <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/825b96b3-b57b-4754-9701-a2d6476d9bb1\">formally greenlit<\/a> a USD 8 bn oil drilling venture in Northwestern Alaska despite a prolonged eleventh-hour campaign by climate activists to block the project. The massive Willow oil project has been moving through the administration\u2019s approval process for months, sparking a wave of online activism and spurring activists to send in more than 1 mn letters to the White House in opposition of the project. The project would produce some 600 mn barrels of crude over its 30-year lifecycle and release some 9.2 mn tons of CO2 equivalent annually.<\/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 by 5am Cairo \/ 5am Riyadh \/ 6am UAE.<\/p>\n<p><strong>EXPLORE MORE OF ENTERPRISE ON THE WEB \u2014<\/strong> <a href=\"http:\/\/www.enterprise.news\">tap or click here<\/a> to read EnterpriseAM, EnterprisePM, and The Weekend Edition on our powerful new website packed with reader-friendly features.<\/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>THE DANGER ZONE- Iraq wants to talk water with Turkey and Iran:<\/strong> Iraq has agreed with downstream countries Turkey and Iran to hold a technical meeting soon to discuss outstanding issues to do with its water supply, the <a href=\"https:\/\/ina.iq\/eng\/26345-water-file-iraq-agrees-with-turkey-and-iran-to-hold-a-specialized-technical-meeting.html\">Iraqi News Agency<\/a> reported. \"We held constructive discussions with the Iranian delegation headed by the Energy Minister and the advanced staff in the ministry on the sidelines of the third Baghdad Water Conference, which dealt with all outstanding issues, and we felt an interaction with Iraq's demands,\u201d said Iraqi Water Resources Ministry Undersecretary Raed Al Jashami. He added that his country briefed Tehran and Ankara on the necessity of permanent agreements and ending interim agreements from the past \u201cbecause the water situation has changed.\u201d<\/p>\n<p><strong>Context: <\/strong>Iran and Turkey have built dams in recent years that have affected water levels in the Tigris and Euphrates rivers in Iraq, according to <a href=\"https:\/\/www.thenationalnews.com\/mena\/iraq\/2023\/05\/08\/iraq-to-discuss-water-scarcity-problem-with-iran-and-turkey\/\">The National<\/a>. Iraq has been <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/0e9d0144-d27b-4e12-bf51-61df76c4cee9\">exerting efforts<\/a> to prevent its Euphrates and Tigris rivers from shrinking due to climate change-driven conditions.<\/p>\n<hr class=\"grey-line\">\n<p><strong>CIRCLE YOUR CALENDAR- <\/strong><\/p>\n<p><strong>Japan will host the <\/strong><strong><a href=\"https:\/\/www.g7hiroshima.go.jp\/en\/\">G7 Hiroshima Summit<\/a><\/strong><strong> from 19 May to 21 May<\/strong> in Hiroshima. One of the key topics addressed at the summit will be ensuring energy security with the goal of achieving net zero by 2050 based on the Paris Agreement.<\/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 next 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 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\/bahrain\/\">Bahrain<\/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\/eu\/\">EU<\/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\/north-africa\/\">North Africa<\/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\/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=\"77333\" 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=\"77334\" 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=\"77334\">\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\">INVESTMENT WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/climate\/2023\/05\/10\/uaes-mensha-ventures-signs-usd-1-bn-green-energy-agreement-with-chinese-investors\/\">\r\n                            UAE\u2019s Mensha Ventures signs USD 1 bn green energy agreement with Chinese investors                        <\/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\/05\/10\/uaes-mensha-ventures-signs-usd-1-bn-green-energy-agreement-with-chinese-investors\/\" 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\/05\/10\/uaes-mensha-ventures-signs-usd-1-bn-green-energy-agreement-with-chinese-investors\/')\">\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\/05\/10\/uaes-mensha-ventures-signs-usd-1-bn-green-energy-agreement-with-chinese-investors\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=UAE\u2019s Mensha Ventures signs USD 1 bn green energy agreement with Chinese investors&url=https:\/\/enterpriseam.com\/climate\/2023\/05\/10\/uaes-mensha-ventures-signs-usd-1-bn-green-energy-agreement-with-chinese-investors\/\">\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\/05\/10\/uaes-mensha-ventures-signs-usd-1-bn-green-energy-agreement-with-chinese-investors\/&title=UAE\u2019s Mensha Ventures signs USD 1 bn green energy agreement with Chinese investors\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=UAE%E2%80%99s+Mensha+Ventures+signs+USD+1+bn+green+energy+agreement+with+Chinese+investors+https%3A%2F%2Fenterpriseam.com%2Fclimate%2F2023%2F05%2F10%2Fuaes-mensha-ventures-signs-usd-1-bn-green-energy-agreement-with-chinese-investors%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\/05\/10\/uaes-mensha-ventures-signs-usd-1-bn-green-energy-agreement-with-chinese-investors\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/5\/1851.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"77335\" data-permalink=\"https:\/\/enterpriseam.com\/climate\/2023\/05\/10\/uaes-mensha-ventures-signs-usd-1-bn-green-energy-agreement-with-chinese-investors\/1851-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/5\/1851.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1851.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/5\/1851.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/5\/1851.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-77334\" class=\"content-area-description single-story post-77334 post type-post status-publish format-standard has-post-thumbnail hentry category-investment-watch tag-china tag-enterpriseclimate tag-investment-watch tag-renewables 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>UAE\u2019s Mensha Ventures, Chinese partners agree to invest USD 1 bn in green <\/strong><strong>energy infrastructure: <\/strong>UAE-based VC outfit Mensha Ventures has signed a non-binding agreement with a group of Chinese strategic partners to jointly invest USD 1 bn in green energy infrastructure in the region, <a href=\"https:\/\/wam.ae\/en\/details\/1395303155968\">Wam<\/a> reports. The agreement \u2014 signed with firms including the Asia Development and Investment Bank (ADIB), Hoover Investment Group, and Shenzhen Sinomaster Investment Group \u2014 should help the UAE reach its renewable energy targets and reduce its carbon footprint, the news outlet notes.<\/p>\n<p><strong>And another agreement with ADIB:<\/strong> On the sidelines of the Annual Investment Meeting in Abu Dhabi, Mensha inked another agreement with ADIB to jointly launch a GCC-focused green tech fund aimed at leveraging Chinese manufacturing to \u201cdrive cutting-edge sustainable solutions into the local ecosystem,\u201d according to Wam.<\/p>\n<p><strong>The latest in a string of UAE-China agreements this month:<\/strong> Earlier this week, UAE state-owned Emirates Nuclear Energy Corporation (ENEC) <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/2faa074c-f63e-45df-a0c1-fe14af7afa36\">signed<\/a> three MoUs with Chinese organizations as part of its target to source 6% of its energy needs from nuclear power by 2050. Earlier in May, Abu Dhabi-based infrastructure investment company Monarch Holding <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/751e45cc-b02c-4fad-aa8d-e24d11dda531\">signed<\/a> an agreement with China-based autonomous and electric air mobility company Ehang Holding to establish a manufacturing facility for electric vertical take-off and landing aircrafts.<\/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\/china\/\">China<\/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\/renewables\/\">renewables<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/uae\/\">UAE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"77336\" 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=\"77336\">\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\">DEBT WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/climate\/2023\/05\/10\/egypts-bank-of-alexandria-gets-a-usd-15-mn-green-loan-from-eib\/\">\r\n                            Egypt\u2019s Bank of Alexandria gets a USD 15 mn green loan from EIB                        <\/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\/05\/10\/egypts-bank-of-alexandria-gets-a-usd-15-mn-green-loan-from-eib\/\" 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\/05\/10\/egypts-bank-of-alexandria-gets-a-usd-15-mn-green-loan-from-eib\/')\">\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\/05\/10\/egypts-bank-of-alexandria-gets-a-usd-15-mn-green-loan-from-eib\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Egypt\u2019s Bank of Alexandria gets a USD 15 mn green loan from EIB&url=https:\/\/enterpriseam.com\/climate\/2023\/05\/10\/egypts-bank-of-alexandria-gets-a-usd-15-mn-green-loan-from-eib\/\">\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\/05\/10\/egypts-bank-of-alexandria-gets-a-usd-15-mn-green-loan-from-eib\/&title=Egypt\u2019s Bank of Alexandria gets a USD 15 mn green loan from EIB\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Egypt%E2%80%99s+Bank+of+Alexandria+gets+a+USD+15+mn+green+loan+from+EIB+https%3A%2F%2Fenterpriseam.com%2Fclimate%2F2023%2F05%2F10%2Fegypts-bank-of-alexandria-gets-a-usd-15-mn-green-loan-from-eib%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\/05\/10\/egypts-bank-of-alexandria-gets-a-usd-15-mn-green-loan-from-eib\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/5\/1852.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"77337\" data-permalink=\"https:\/\/enterpriseam.com\/climate\/2023\/05\/10\/egypts-bank-of-alexandria-gets-a-usd-15-mn-green-loan-from-eib\/1852-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/5\/1852.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1852.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/5\/1852.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/5\/1852.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-77336\" class=\"content-area-description single-story post-77336 post type-post status-publish format-standard has-post-thumbnail hentry category-debt-watch tag-bank-of-alexandria tag-debt-watch tag-enterpriseclimate tag-european-investment-bank tag-green-finance wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-02\"><\/a> <strong>Egypt\u2019s Bank of Alexandria inked a financing agreement with the European <\/strong><strong>Investment Bank (EIB) for a USD 15 mn loan to finance green projects<\/strong>, according to a <a href=\"https:\/\/moic.gov.eg\/ar\/news\/1009?fbclid=IwAR28cMTEZK90FoUQ3Cnkm9ImpLgdgRsxrqHPncplBVqAC8wkPbzThRXJdBw\">statement<\/a>. The loan agreement was signed under the framework of the first Green Economy Financing Facility which is co-financed by the EU, according to a separate <a href=\"https:\/\/ent.news\/2023\/5\/1951.pdf\">statement<\/a>. The bank will funnel financing towards small and medium businesses working on energy efficiency and renewable energy in the industrial, commercial and agricultural sectors.<\/p>\n<p><strong>EIB already has interest in Egypt\u2019s renew<\/strong><strong>ables<\/strong>: EIC Director Lionel Rapaille met with Egyptian Environment Minister Yasmine Fouad in February to <a href=\"http:\/\/climate.enterprise.press\/stories\/2023\/02\/08\/today-austrian-utilities-company-signs-with-masdar-for-green-hydrogen-production-96034\/\">explore potential climate-centered projects<\/a> in the private sector, including waste-to-energy, waste management, and environmental and marine conservation projects and potential pathways for developing the local banking industry\u2019s sustainable financing capacity.<\/p>\n<p><strong>The bank is supporting renewables regionally<\/strong><strong>\u2026:<\/strong> The bank said it is in talks with several private sector investors and the Moroccan Agency for Sustainable Energy (Masen) to explore investment opportunities in the country\u2019s green fuel sector <a href=\"http:\/\/climate.enterprise.press\/stories\/2023\/02\/27\/today-omans-renewable-energy-projects-are-getting-a-financing-boost-from-the-export-import-bank-of-the-united-states-97975\/\">last February<\/a>, with aims to get new green hydrogen production projects off the ground by 2025.<\/p>\n<p><strong>\u2026 And beyond:<\/strong> The European Commission and EIB agreed to funnel EUR 18 bn in funding <a href=\"http:\/\/climate.enterprise.press\/stories\/2023\/05\/01\/eu-eib-channel-eur-18-bn-in-climate-funding-for-global-gateway-partner-countries-including-north-africa-101099\/\">earlier this month<\/a> under Europe\u2019s investment strategy for partner countries Global Gateway to help bridge global climate financing gaps and support adaptation and mitigation efforts. The new financing package aims to boost investments in the strategy\u2019s priority areas, including climate action and clean energy in <a href=\"https:\/\/international-partnerships.ec.europa.eu\/policies\/global-gateway\/climate-and-energy_en\">partner countries<\/a> globally.<\/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\/bank-of-alexandria\/\">Bank of Alexandria<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/debt-watch\/\">DEBT WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/european-investment-bank\/\">European Investment Bank<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/green-finance\/\">green finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"77338\" 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                            \"\r\n            id=\"77338\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/climate\/2023\/05\/10\/77338\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-77338\" class=\"content-area-description single-story post-77338 post type-post status-publish format-standard hentry wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p class='web-image'><a href='https:\/\/weareiph.com\/'><img decoding=\"async\" data-recalc-dims=\"1\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/5\/1828.jpg?ssl=1\" alt='enterprise'><\/a><\/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<section id=\"77339\" 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=\"77339\">\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\/05\/10\/egypt-finalizes-feasibility-studies-for-a-silicone-production-complex-powered-by-renewables\/\">\r\n                            Egypt finalizes feasibility studies for a silicone production complex powered by 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\/05\/10\/egypt-finalizes-feasibility-studies-for-a-silicone-production-complex-powered-by-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(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/climate\/2023\/05\/10\/egypt-finalizes-feasibility-studies-for-a-silicone-production-complex-powered-by-renewables\/')\">\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\/05\/10\/egypt-finalizes-feasibility-studies-for-a-silicone-production-complex-powered-by-renewables\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Egypt finalizes feasibility studies for a silicone production complex powered by renewables&url=https:\/\/enterpriseam.com\/climate\/2023\/05\/10\/egypt-finalizes-feasibility-studies-for-a-silicone-production-complex-powered-by-renewables\/\">\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\/05\/10\/egypt-finalizes-feasibility-studies-for-a-silicone-production-complex-powered-by-renewables\/&title=Egypt finalizes feasibility studies for a silicone production complex powered by renewables\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Egypt+finalizes+feasibility+studies+for+a+silicone+production+complex+powered+by+renewables+https%3A%2F%2Fenterpriseam.com%2Fclimate%2F2023%2F05%2F10%2Fegypt-finalizes-feasibility-studies-for-a-silicone-production-complex-powered-by-renewables%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/climate\/2023\/05\/10\/egypt-finalizes-feasibility-studies-for-a-silicone-production-complex-powered-by-renewables\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/5\/1853.jpeg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"77340\" data-permalink=\"https:\/\/enterpriseam.com\/climate\/2023\/05\/10\/egypt-finalizes-feasibility-studies-for-a-silicone-production-complex-powered-by-renewables\/1853-jpeg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/5\/1853.jpeg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1853.jpeg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/5\/1853.jpeg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/5\/1853.jpeg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-77339\" class=\"content-area-description single-story post-77339 post type-post status-publish format-standard has-post-thumbnail hentry category-renewables tag-enterpriseclimate tag-new-alamein tag-renewables tag-silicone tag-silicone-metal 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>Egypt is shoring up polysilicon ahead of solar energy expansion:<\/strong> Egypt has completed the feasibility study for a new solar-powered silicone production complex in New Alamein, according to a <a href=\"https:\/\/bit.ly\/3HSju5g\">statement<\/a>. The project \u2014 spanning 200 feddans on Egypt\u2019s North Coast \u2014 aims to produce locally-manufactured silicone and derivatives rather than rely on imports.<\/p>\n<p><strong>Securing supply chains:<\/strong> The first phase will produce silicone at a production capacity of 45k tons annually with an investment cost of USD 172 mn. Silicone derivatives \u2014 used for insulating materials, construction, and others \u2014 will be manufactured in the second phase with an initial production capacity of 60k-100k tons annually depending on the availability of essential local raw materials like silicon, methanol, and hydrochloric acid.<\/p>\n<p><strong>And key materials for solar cells are in the pipeline: <\/strong>The third phase will produce polysilicon \u2014 commonly used in the manufacturing of solar cells and electronics \u2014 with an initial production capacity of 10k tons annually, according to the statement. This should help keep pace with the proliferation of solar energy projects, it added. The fourth phase will involve setting up a complex for manufacturing products usually imported from abroad like insulating material, adhesives, and rubber.<\/p>\n<p><strong>Who\u2019s in?<\/strong> The project\u2019s shareholders will include the Egyptian Petrochemicals Holding Company, the Egyptian Mineral Resources Authority, the Egyptian Company for Mineral Resources, the Public Enterprise Ministry\u2019s Metallurgical Industries Holding and the Egyptian Ferro Alloys in partnership with National Initiative of Developing Egyptian Industry (Ebda), Libra Capital and Central Desert Mining Company.<\/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\/new-alamein\/\">New Alamein<\/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\/silicone\/\">Silicone<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/silicone-metal\/\">silicone metal<\/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=\"77341\" 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=\"77341\">\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\">GREEN HYDROGEN<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/climate\/2023\/05\/10\/oman-and-belgium-ink-agreement-for-green-hydrogen-certificates-pilot-project\/\">\r\n                            Oman and Belgium ink agreement for green hydrogen certificates pilot project                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a 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Belgium ink agreement for green hydrogen certificates pilot project\">\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=Oman+and+Belgium+ink+agreement+for+green+hydrogen+certificates+pilot+project+https%3A%2F%2Fenterpriseam.com%2Fclimate%2F2023%2F05%2F10%2Foman-and-belgium-ink-agreement-for-green-hydrogen-certificates-pilot-project%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\/05\/10\/oman-and-belgium-ink-agreement-for-green-hydrogen-certificates-pilot-project\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/5\/1854.jpeg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"77342\" data-permalink=\"https:\/\/enterpriseam.com\/climate\/2023\/05\/10\/oman-and-belgium-ink-agreement-for-green-hydrogen-certificates-pilot-project\/1854-jpeg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/5\/1854.jpeg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1854.jpeg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/5\/1854.jpeg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/5\/1854.jpeg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-77341\" class=\"content-area-description single-story post-77341 post type-post status-publish format-standard has-post-thumbnail hentry category-green-hydrogen tag-belgium tag-deme tag-enterpriseclimate tag-green-hydrogen tag-hyport-duqm tag-oman tag-oq 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>One step forward for Oman\u2019s green hydrogen:<\/strong> Oman\u2019s Energy and Minerals Ministry and the Belgian Energy Ministry signed an agreement for a Green Energy Certificates pilot project for the sultanate's ambitious green hydrogen Hyport Duqm project, <a href=\"https:\/\/omannews.gov.om\/topics\/en\/80\/show\/112719\/\">Oman News Agency<\/a> reports.<\/p>\n<p><strong>What we know:<\/strong> The agreement aims to assess the adherence of green hydrogen production projects in Oman to European Union requirements, unlocking Oman\u2019s potential to export green hydrogen projects to Europe in the future.<\/p>\n<p><strong>What they said:<\/strong> \u201cThe faster Europe can certify green hydrogen \u2026 the more Belgium can play to its strengths as a European energy hub,\u201d Belgium\u2019s Energy Minister Tinne Van der Straeten said on <a href=\"https:\/\/twitter.com\/TinneVdS\/status\/1655520945677692930\">Twitter<\/a>, adding that the growing cooperation with Oman and the progression of this pilot project \u201care essential building blocks to accelerate this.\u201d<\/p>\n<p><strong>About Hyport Duqm:<\/strong> The project \u2014 a joint venture between Belgian Deme and Omani OQ \u2014 covers an area of 150 \u200b\u200bsq km that will see a green hydrogen and green ammonia production facility with a 500 MW electrolysis capacity, according to the <a href=\"https:\/\/www.deme-group.com\/news\/hyport-coordination-company-signs-second-land-reservation-agreement-green-hydrogen-and-ammonia\">Deme<\/a> website. The hydrogen plant will be powered by c. 1.3 GW of combined installed capacity from wind turbines and solar panels at the Special Economic Zone at Duqm\u2019s renewable energy zone.<\/p>\n<p><strong>All part of a green hydrogen push:<\/strong> Oman\u2019s state-owned green hydrogen company Hydrom \u2014 owned by Energy Development Oman \u2014 signed <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/40455595-d905-4d49-a583-ee97e18a20cb\">six binding term sheet agreements<\/a> in March worth a combined USD 20 bn with several regional and international developers for the production of green hydrogen. Hydrom expects to seal several of the agreements over <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/6e54b850-47ba-436b-8ef8-4b9ef15261a5\">the next few months<\/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\/belgium\/\">Belgium<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/deme\/\">DEME<\/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\/hyport-duqm\/\">Hyport Duqm<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/oman\/\">Oman<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/oq\/\">OQ<\/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=\"77343\" 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=\"77343\">\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\">EARNINGS WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/climate\/2023\/05\/10\/dewa-reports-robust-results-for-1q-2023-on-the-back-of-strong-demand\/\">\r\n                            Dewa reports robust results for 1Q 2023 on the back of strong demand                        <\/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\/05\/10\/dewa-reports-robust-results-for-1q-2023-on-the-back-of-strong-demand\/\" 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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An 11.2% y-o-y rise in revenues in the state utility\u2019s other portfolio of assets also fueled the increase in revenues. Quarterly revenue growth for electricity, water, and cooling services rose by 7.2%, 7%, and 4.6%<\/p>\n<p>respectively.<\/p>\n<p><strong>Big plans ahead: <\/strong>Dewa said it eyes a gross installed capacity of 20 GW and 730 mn gallons per day (MIGD) of desalinated water by the end of 2030. Under the 20 GW target, the company plans to have 5 GW of installed renewable capacity, representing 25% production from renewable sources. The additional 240 MIGD of desalination capacity will be attained through reverse osmosis technology.<\/p>\n<p><strong>What they said:<\/strong> \u201cOur strategies, growth pillars and capital commitments are well positioned to deliver on our energy transition ambitions to achieve the Dubai Clean Energy Strategy 2050 and the Dubai Net Zero Emissions Strategy 2050 to provide 100% of the energy production capacity from clean energy sources by 2050, while supporting the strong demand for our exclusive portfolio of products and services,\u201d DEWA Managing Director and CEO Saeed Mohammed Al Tayer said in the statement.<\/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\/dewa\/\">DEWA<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/earnings-watch\/\">EARNINGS WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/renewables\/\">renewables<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/uae\/\">UAE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"77345\" 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=\"77345\">\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\">EARNINGS WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/climate\/2023\/05\/10\/fertiglobe-1q-2023s-net-income-falls-on-the-back-of-lower-gas-selling-prices-muted-demand\/\">\r\n                            Fertiglobe 1Q 2023\u2019s net income falls on the back of lower gas selling prices, muted demand                        <\/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\/05\/10\/fertiglobe-1q-2023s-net-income-falls-on-the-back-of-lower-gas-selling-prices-muted-demand\/\" 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\/05\/10\/fertiglobe-1q-2023s-net-income-falls-on-the-back-of-lower-gas-selling-prices-muted-demand\/')\">\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\/05\/10\/fertiglobe-1q-2023s-net-income-falls-on-the-back-of-lower-gas-selling-prices-muted-demand\/\">\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=Fertiglobe 1Q 2023\u2019s net income falls on the back of lower gas selling prices, muted demand&url=https:\/\/enterpriseam.com\/climate\/2023\/05\/10\/fertiglobe-1q-2023s-net-income-falls-on-the-back-of-lower-gas-selling-prices-muted-demand\/\">\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\/05\/10\/fertiglobe-1q-2023s-net-income-falls-on-the-back-of-lower-gas-selling-prices-muted-demand\/&title=Fertiglobe 1Q 2023\u2019s net income falls on the back of lower gas selling prices, muted demand\">\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=Fertiglobe+1Q+2023%E2%80%99s+net+income+falls+on+the+back+of+lower+gas+selling+prices%2C+muted+demand+https%3A%2F%2Fenterpriseam.com%2Fclimate%2F2023%2F05%2F10%2Ffertiglobe-1q-2023s-net-income-falls-on-the-back-of-lower-gas-selling-prices-muted-demand%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\/05\/10\/fertiglobe-1q-2023s-net-income-falls-on-the-back-of-lower-gas-selling-prices-muted-demand\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/157.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"77346\" data-permalink=\"https:\/\/enterpriseam.com\/climate\/2023\/05\/10\/fertiglobe-1q-2023s-net-income-falls-on-the-back-of-lower-gas-selling-prices-muted-demand\/157-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/157.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"157.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/157.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/157.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-77345\" class=\"content-area-description single-story post-77345 post type-post status-publish format-standard has-post-thumbnail hentry category-earnings-watch tag-earnings-watch tag-enterpriseclimate tag-fertiglobe tag-fertilizers 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>Not the best 1Q for Fertiglobe: <\/strong>MENA fertilizers firm Fertiglobe \u2014 a joint venture between Adnoc and OCI \u2014 saw its adjusted net income plunge 62% y-o-y in 1Q 2023 to USD 135.4 mn, according to its <a href=\"https:\/\/ent.news\/2023\/5\/1856.pdf\">earnings release (pdf)<\/a>. Its revenues fell by 41% y-o-y during the quarter to report USD 694 mn.<\/p>\n<p><strong>Lower natgas prices to blame: <\/strong>The fall in the bottomline and the topline was fueled by lower selling prices during the first three months of the year on the back of declines in European gas prices, demand lags in several key regions due to weather conditions, and the deferral of 100kt urea shipments to Ethiopia, the company said.<\/p>\n<p><strong>Sales are on the rise: <\/strong>Despite the financial results of the quarter, Fertiglobe reported a 9% rise in sale volumes of its own-produced products to 1,363kt. This came on the back of a \u201cdisciplined commercial strategy and centralized distribution capabilities\u201d focused on demand centers that provide attractive netbacks.<\/p>\n<p><strong>What they said: <\/strong>\u201cNatural gas prices declined sharply in 1Q 2023 due to a mild winter and resulted in lower marginal costs in Europe, causing deferred buying in several key regions. This, combined with relatively muted industrial demand, led to selling prices well below their levels in the same period last year, impacting our earnings growth in 1Q 2023 on a year on year basis,\u201d Fertiglobe CEO Ahmed El Hoshy said.<\/p>\n<p><strong>Better years to come? <\/strong>Fertiglobe is currently making progress on several initiatives aimed at further supporting freecash generation, including a recent manufacturing improvement plan, Al Hoshy said. Such initiatives are expected to deliver \u201coperational and EBITDA efficiencies over the next 2-3 years,\u201d he added. It also launched an initiative to optimize the fertilizer company\u2019s cost structure with a USD 50 mn target in annualized savings. \u201cWe expect to achieve these savings over the next 12 \u2013 18 months. In addition, we expect a positive impact from the recent devaluation of the Egyptian pound on our cost base,\u201d he said.<\/p>\n<p><strong>Scaling up ammonia production: <\/strong>Fertiglobe said it expects volumes of on-spec green ammonia at its facilities in Egypt to \u201cramp up over the year,\u201d targeting a full investment decision this year on a <a href=\"https:\/\/enterprise.press\/stories\/2022\/04\/03\/scatec-inks-ain-sokhna-green-hydrogen-pact-with-sfe-and-oc-68181\/\">100 MW electrolyzer plant<\/a> it is involved in with Norway\u2019s Scatec, Orascom Construction, and the Sovereign Fund of Egypt (SFE) in Ain Sokhna. The facility is <a href=\"https:\/\/enterprise.press\/stories\/2022\/11\/09\/fertiglobe-commissions-100-mw-plant-kicking-off-a-big-day-for-green-hydrogen-in-egypt-86670\/\">expected to produce<\/a> up to c.15k tons of green hydrogen as feedstock for production of up to 90k tons of green ammonia per year in the fertilizer\u2019s existing ammonia plants.<\/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\/earnings-watch\/\">EARNINGS WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/fertiglobe\/\">Fertiglobe<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/fertilizers\/\">fertilizers<\/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=\"77347\" 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=\"77347\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">8<\/div>\r\n\r\n                    <p class=\"f-graphik\">CLIMATE DIPLOMACY<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/climate\/2023\/05\/10\/morocco-and-uk-sign-framework-on-climate-action-spain-wants-to-boost-renewables-in-tunisia-plus-uae-and-hungary-talk-renewables\/\">\r\n                            Morocco and UK sign framework on climate action, Spain wants to boost renewables in Tunisia PLUS: UAE and Hungary talk 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\/05\/10\/morocco-and-uk-sign-framework-on-climate-action-spain-wants-to-boost-renewables-in-tunisia-plus-uae-and-hungary-talk-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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The framework will ensure the automatic inclusion of climate impact in the planning and work carried out by Morocco\u2019s public and private sector as part of the kingdom\u2019s fast and responsible energy transition.<\/p>\n<p><strong>Spain wants to boost renewables in Tunisia: <\/strong>Spanish Secretary of State in charge of Trade Xiana Mendez met with Tunisia\u2019s Economy and Planning Minister Samir Saied to discuss cooperation in renewables, ways to combat climate change, mobilization of water resources, and environmental protection, according to a <a href=\"https:\/\/bit.ly\/3MadebC\">statement<\/a>.<\/p>\n<p><strong>There\u2019s already investments in place: <\/strong>Saudi investment group Swicorp and Spanish infrastructure group Acciona signed the technical and financial offer and lease commitment to build a 75 MW wind farm in Tunisia <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/58271cfd-0552-49c3-9081-8dd3a071aca5\">last month<\/a>. The project is estimated to cost TND 500 mn (c. EUR 149 mn) and will break ground at the end of 2025 with a construction time of 18 months.<\/p>\n<p><strong>ALSO-<\/strong> <strong>UAE, Hungary talk renewables: <\/strong>UAE\u2019s Foreign Minister Sheikh Abdullah bin Zayed and Hungarian counterpart P\u00e9ter Szijj\u00e1rt\u00f3 discussed boosting bilateral ties between their countries, according to a <a href=\"https:\/\/www.mofaic.gov.ae\/en\/mediahub\/news\/2023\/5\/8\/08-05-2023-uae-partnership\">statement<\/a>. Cooperation in several fields including renewable energy, investment, economy, and trade were on the agenda.<\/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\/acciona\/\">Acciona<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/climate-diplomacy\/\">CLIMATE DIPLOMACY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/hungary\/\">Hungary<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/renewables\/\">renewables<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/spain\/\">Spain<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/swicorp\/\">Swicorp<\/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\/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=\"77349\" 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=\"77349\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">9<\/div>\r\n\r\n                    <p class=\"f-graphik\">ALSO ON OUR RADAR<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/climate\/2023\/05\/10\/the-uks-zhero-launches-green-hydrogen-plants-including-a-north-africa-facility\/\">\r\n                            The UK\u2019s Zhero launches green hydrogen plants including a North Africa facility                        <\/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\/05\/10\/the-uks-zhero-launches-green-hydrogen-plants-including-a-north-africa-facility\/\" 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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Two of the plants are located in Northern and Southern Africa and the other two are located in the US, and will have a 100-200k yearly production capacity. Padmanathan did not disclose the African countries where the plants are based, nor did he give a timeline on the projects\u2019 completion. Two of the four projects currently in the works will be focused on green ammonia production, with the remaining facilities planned to focus on green hydrogen generation, he noted.<\/p>\n<p><strong>Orascom and BluEV to electrify Egypt\u2019s light transportation: <\/strong>Orascom Investment has signed a strategic partnership agreement with BluEV through which the two companies will convert two and three-wheeled vehicles to electric models, <a href=\"https:\/\/www.zawya.com\/en\/economy\/north-africa\/orascom-investment-signs-agreement-to-convert-bluevs-light-mobility-vehicles-to-electric-egypt-infkbi0p\">Zawya<\/a> reports. Using Orascom\u2019s resources and BluEV\u2019s digital platform that manages smart battery replacement stations, this partnership aims to enable light transportation drivers to switch to e-vehicles. BluEV stations sell light e-vehicles with installment plans and their conversion centers can convert traditional motorcycles into e-bikes.<\/p>\n<p><strong>And they\u2019ll include <\/strong><strong>perks<\/strong><strong>: <\/strong>By registering on the platform, clients can rent rechargeable smart lithium-ion batteries or exchange used batteries with fully-charged ones at BluEV\u2019s stations, which saves charging time, according to Zawya.<\/p>\n<p><strong>OTHER STORIES WORTH KNOWING ABOUT THIS MORNING-<\/strong><\/p>\n<ul>\n<li><strong>Morocco <\/strong>dropped<strong> 16 places <\/strong>in a ranking of 62 countries rating their <strong>attractiveness for mining policies<\/strong>. The kingdom plummeted from 2nd place due to investors\u2019 concerns over the uncertainty of enforcing regulations. (<a href=\"https:\/\/www.fraserinstitute.org\/sites\/default\/files\/annual-survey-of-mining-companies-2022.pdf\">Report, pdf<\/a>)<\/li>\n<li><strong>16 companies<\/strong> from <strong>India, China, Italy, and France<\/strong> have signaled interest in submitting bids for an <strong>80 MW solar energy<\/strong> project in<strong> Algeria\u2019s El Guerrara<\/strong> municipality. The submission of tenders and <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/903880ff-3695-4983-b933-7b2d38f5e2d8\">the opening of bids<\/a> for projects that are planned to produce from <strong>80 to 220 MW each<\/strong> are scheduled for <strong>29 May<\/strong>.(<a href=\"https:\/\/attaqa.net\/2023\/05\/08\/%D8%A3%D8%AD%D8%AF%D8%AB-%D9%85%D8%B4%D8%B1%D9%88%D8%B9%D8%A7%D8%AA-%D8%A7%D9%84%D8%B7%D8%A7%D9%82%D8%A9-%D8%A7%D9%84%D8%B4%D9%85%D8%B3%D9%8A%D8%A9-%D9%81%D9%8A-%D8%A7%D9%84%D8%AC%D8%B2%D8%A7%D8%A6\/\">Attaqa<\/a>)<\/li>\n<li>Abu Dhabi-based<strong> Emirates Water and Electricity Company<\/strong> has opened registration to participate in its <strong>Q2 Clean Energy Certificates<\/strong> auction which will take place on <strong>14 June<\/strong>. (<a href=\"https:\/\/www.ewec.ae\/en\/media\/press-release\/ewec-conduct-its-q2-2023-clean-energy-certificates-auction\">Statement<\/a>)<\/li>\n<li>UAE renewables player <strong>Masdar<\/strong> signed an agreement with Austrian oil and gas group <strong>OMV<\/strong> to jointly explore opportunities of collaboration in <strong>renewable energy <\/strong>and <strong>green hydrogen<\/strong> initiatives. (<a href=\"https:\/\/twitter.com\/Masdar\/status\/1655892061399162880\">Twitter<\/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\/acwa-power\/\">ACWA Power<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/also-on-our-radar\/\">ALSO ON OUR RADAR<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/austria\/\">Austria<\/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                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/masdar\/\">Masdar<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/omv\/\">OMV<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/renewables\/\">renewables<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/uae\/\">UAE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"77351\" 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=\"77351\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">10<\/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\/05\/10\/adani-green-energy-ousted-from-un-climate-group\/\">\r\n                            Adani Green Energy ousted from UN Climate 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\/05\/10\/adani-green-energy-ousted-from-un-climate-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(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/climate\/2023\/05\/10\/adani-green-energy-ousted-from-un-climate-group\/')\">\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\/05\/10\/adani-green-energy-ousted-from-un-climate-group\/\">\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=Adani Green Energy ousted from UN Climate Group&url=https:\/\/enterpriseam.com\/climate\/2023\/05\/10\/adani-green-energy-ousted-from-un-climate-group\/\">\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\/05\/10\/adani-green-energy-ousted-from-un-climate-group\/&title=Adani Green Energy ousted from UN Climate Group\">\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=Adani+Green+Energy+ousted+from+UN+Climate+Group+https%3A%2F%2Fenterpriseam.com%2Fclimate%2F2023%2F05%2F10%2Fadani-green-energy-ousted-from-un-climate-group%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\/05\/10\/adani-green-energy-ousted-from-un-climate-group\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/10\/3043.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"77352\" data-permalink=\"https:\/\/enterpriseam.com\/climate\/2023\/05\/10\/adani-green-energy-ousted-from-un-climate-group\/3043-jpg-2\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/10\/3043.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"3043.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/10\/3043.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/10\/3043.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-77351\" class=\"content-area-description single-story post-77351 post type-post status-publish format-standard has-post-thumbnail hentry category-around-the-world tag-adani-green tag-around-the-world tag-egypt tag-enterpriseclimate tag-hydrogen tag-india tag-morocco tag-renewables wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Adani companies lose endorsement of UN-backed climate group:<\/strong> Three Adani Group companies have lost the endorsement of the UN-backed Science Based Targets initiative (SBTi) for failing to conform to the group\u2019s green-focused standards and policies, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-05-09\/adani-green-transmission-ports-lose-support-of-climate-group-sbti?srnd=green&leadSource=uverify%20wall\">Bloomberg<\/a> reports, citing an internal report by SBTi. The expulsion from the UN group\u2019s list of \u201ccompanies taking action\u201d will likely thwart b\u2019naire company owner Gautam Adani's ambition to raise some USD 800 bn to fuel the expansion of his green energy firm, Bloomberg writes.<\/p>\n<p><strong>Adani pushes back: <\/strong>The Indian company has called on SBTi to justify the exclusion and said it hopes the UN-backed group will reassess and review its decision, Bloomberg reports. Adani said that \u201cnone of these companies [Adani Green, Adani Transmission Ltd and Adani Ports & Special Economic Zone Ltd] is involved in the exploration, extraction, mining and\/or production of oil, natural gas, coal or other fossil fuels,\u201d and that all three of its subsidiaries are \u201cworking on preparing their low carbon transition plans\u201d after committing to SBTi.<\/p>\n<p><strong>REFRESHER- Adani reportedly using green funds to invest in fossil fuel: <\/strong>Green-branded investment funds <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/112d5ad1-babd-4f53-9ff3-8f31aabcc5e1\">are being used<\/a>by some of the world\u2019s top fund managers to invest in fossil fuel companies, according to UK think tank Common Wealth. Investing in Adani\u2019s renewables activity <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/922f15f5-a014-4c29-807b-501f1bff9be5\">ultimately funds<\/a> the growth of the group\u2019s fossil fuel-based businesses, despite Adani\u2019s claims that its subsidiaries have different mandates, according to Climate Energy Finance Director Tim Buckley. Earlier this year, the value of Adani Group <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/0fa368ec-492b-4384-8e92-79005346d836\">sank<\/a> by USD 70 bn in the wake of another damning report issued by short seller investment firm Hindenburg Research Company.<\/p>\n<p><strong>Adani Green\u2019s possible plans for our neck of the woods: <\/strong>Adani Group reportedly <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/b45de912-e322-4b2a-bf2b-88d4e1060db4\">plans to<\/a><a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/b45de912-e322-4b2a-bf2b-88d4e1060db4\">invest<\/a> in renewables projects with 10 GW capacity in Morocco to supply green ammonia to Europe. The wind and solar plants would be Adani\u2019s largest clean energy project outside of India, and would more than triple Morocco\u2019s already installed renewables capacity of 2.8 GW. The Indian giant has similarly signed agreements with the Egyptian government for green hydrogen developments.<\/p>\n<hr class=\"grey-line\">\n<p><strong>Glencore to build Europe\u2019s largest battery recycling plant: <\/strong>Swiss-based Glencore is launching a joint study with Canada\u2019s Li-Cycle to build the largest European plant for recycling batteries in Italy by 2027, the <a href=\"https:\/\/www.ft.com\/content\/ab593cac-5f7e-4b70-904d-94cc0251aaeb\">Financial Times<\/a> reports. The plant will add to Glencore\u2019s portfolio of copper, nickel, and cobalt mines, extending its access to the raw materials essential for EVs.<\/p>\n<p><strong>The details:<\/strong> Glencore \u2014 which owns a 10% stake in Li-Cycle \u2014 intends to repurpose the Canadian company\u2019s zinc and lead smelter in Sardinia to recycle discarded portable electronics, scrap from battery manufacturing, and old EV batteries to extract lithium, nickel, and cobalt. The plant will have a processing capacity of 50k-70k tons of shredded batteries which will undergo hydrometallurgical processes to extract the raw materials \u2014 enough to recycle batteries from over 600k used cars.<\/p>\n<hr class=\"grey-line\">\n<p><strong>Turkmenistan\u2019s two main fossil fuel plants produced 4.4 mn tons of methane in <\/strong><strong>2022 \u2014 the equivalent of the UK\u2019s total carbon emissions that year<\/strong>, <a href=\"https:\/\/www.theguardian.com\/world\/2023\/may\/09\/mind-boggling-methane-emissions-from-turkmenistan-revealed\">The Guardian<\/a> reports, citing satellite data compiled by energy analytics firm Kayrros. Turkmenistan\u2019s western fossil fuel plant on the Caspian coast produced nearly 2.6 mn tons of the greenhouse gas alone, with the country\u2019s eastern fuels plant releasing some 1.8 mn tons in 2022.<\/p>\n<p><strong>OTHER STORIES WORTH KNOWING ABOUT THIS MORNING-<\/strong><\/p>\n<ul>\n<li><strong>China has halted 32 coal production operations<\/strong> in Inner Mongolia to conduct safety checks prompted by a <strong>deadly landslide<\/strong> last February. The closed operations have a combined annual capacity of <strong>over 28 mn tons<\/strong>. (<a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-05-09\/china-halts-50-million-tons-of-coal-output-after-deadly-accident?srnd=green&leadSource=uverify%20wall\">Bloomberg<\/a>)<\/li>\n<li><strong>Tesla <\/strong>plans to invest<strong> USD 375 mn <\/strong>to build a <strong>new lithium refinery in Texas<\/strong>, to secure a domestic supply of lithium hydroxide used in batteries for <strong>1 mn of its EVs annually<\/strong>. (<a href=\"https:\/\/www.cnbc.com\/2023\/05\/08\/elon-musk-breaks-ground-on-tesla-lithium-refinery-in-texas.html\">CNBC<\/a>)<\/li>\n<li><strong>Lafarge Egypt <\/strong>has used<strong> 20k of eco-friendly <\/strong><strong><a href=\"https:\/\/www.holcim.com\/what-we-do\/our-building-solutions\/cement\/ecoplanet\">ECOPlanet cement<\/a><\/strong> in the construction of <strong>Egypt\u2019s Iconic Tower in the New Administrative Capital<\/strong>, which helped reduce the project\u2019s overall carbon emissions by 60%. (<a href=\"https:\/\/bit.ly\/3M9QNn4\">Zawya<\/a>)<\/li>\n<li>Europe\u2019s largest asset manager <strong>Amundi<\/strong> and <strong>HSBC Asset Management<\/strong> both filed a joint shareholder resolution for the second year in a row for Japanese electricity generator <strong>Electric Power Development (J-Power)<\/strong> to upscale the company\u2019s <strong>climate disclosure and action<\/strong> strategy. (<a href=\"https:\/\/www.reuters.com\/business\/sustainable-business\/amundi-hsbc-asset-file-joint-climate-resolution-j-power-again-2023-05-08\/\">Reuters<\/a>)<\/li>\n<li><strong>India\u2019s Oil Ministry<\/strong> is looking to <strong>phase out diesel-powered vehicles <\/strong>by <strong>2027<\/strong>, and is recommending <strong>a ban on combustion engine <\/strong>motorcycles, scooters, and rickshaws<strong> by 2035<\/strong>. (<a href=\"https:\/\/www.reuters.com\/world\/india\/india-govt-panel-proposes-ban-diesel-4-wheeler-vehicles-by-2027-2023-05-08\/\">Reuters<\/a>)<\/li>\n<li><strong>Sweden <\/strong>might not meet its <strong>2030 CO2 emissions target<\/strong>, after the government decided to <strong>reduce the amount of biofuel<\/strong> that should be added to diesel and gasoline <strong>down to 6% until 2026<\/strong>. Currently diesel must include 30.5% biofuel and petrol should include 7.8%. (<a href=\"https:\/\/www.reuters.com\/business\/energy\/sweden-cut-biofuel-additives-gasoline-diesel-2023-05-08\/\">Reuters<\/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\/adani-green\/\">Adani Green<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\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\/egypt\/\">Egypt<\/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                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/india\/\">India<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/morocco\/\">Morocco<\/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=\"77353\" 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=\"77353\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">11<\/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\/05\/10\/youtube-is-still-pocketing-income-from-climate-denying-adverts\/\">\r\n                            YouTube is still pocketing income from climate-denying adverts                        <\/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\/05\/10\/youtube-is-still-pocketing-income-from-climate-denying-adverts\/\" 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\/05\/10\/youtube-is-still-pocketing-income-from-climate-denying-adverts\/')\">\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\/05\/10\/youtube-is-still-pocketing-income-from-climate-denying-adverts\/\">\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=YouTube is still pocketing income from climate-denying adverts&url=https:\/\/enterpriseam.com\/climate\/2023\/05\/10\/youtube-is-still-pocketing-income-from-climate-denying-adverts\/\">\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\/05\/10\/youtube-is-still-pocketing-income-from-climate-denying-adverts\/&title=YouTube is still pocketing income from climate-denying adverts\">\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=YouTube+is+still+pocketing+income+from+climate-denying+adverts+https%3A%2F%2Fenterpriseam.com%2Fclimate%2F2023%2F05%2F10%2Fyoutube-is-still-pocketing-income-from-climate-denying-adverts%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\/05\/10\/youtube-is-still-pocketing-income-from-climate-denying-adverts\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/5\/1858.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"77354\" data-permalink=\"https:\/\/enterpriseam.com\/climate\/2023\/05\/10\/youtube-is-still-pocketing-income-from-climate-denying-adverts\/1858-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/5\/1858.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1858.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/5\/1858.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/5\/1858.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-77353\" class=\"content-area-description single-story post-77353 post type-post status-publish format-standard has-post-thumbnail hentry category-on-your-way-out tag-climate-change tag-enterpriseclimate tag-google tag-hyundai tag-nike tag-on-your-way-out tag-renewables tag-youtube wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-09\"><\/a><strong> YouTube is turning a buck from ads on videos that are spreading misinformation about climate change<\/strong>, <a href=\"https:\/\/www.euronews.com\/green\/2023\/05\/04\/climate-change-denial-videos-are-raking-in-profits-for-youtube-research-reveals\">Euronews<\/a> reports, citing a new report by the Climate Action Against Disinformation and the Center for Countering Digital Hate. The report found 200 climate disinformation videos on the platform that had ads by major brands like Tommy Hilfiger, Nike, and Hyundai running on them.<\/p>\n<p><strong>What kind of misinformation is being propagated? <\/strong>The videos\u2019 content ranged from outright climate denial, skepticism about the models and work of climate-focused organizations, the denial of a link between carbon generation and global warming, to conspiracy theories associating climate science with \u201ccommunist\u201d, \u201canti-white\u201d and \u201canti-Western\u201d agendas. The content scrutinized by the study collectively garnered some 74 mn views as of late April, Euronews noted.<\/p>\n<p><strong>Google\u2019s failure to combat disinfo: <\/strong>The presence of ads on the videos cited in the report \u2014 found by searching terms like \u201cclimate hoax\u201d and \u201cclimate scam\u201d \u2014 is in direct violation of Youtube's policy banning adverts on content \u201ccontradicting authoritative scientific consensus on the existence of and causes behind climate change.\u201d The reports also found that nearly 63% of \u201cpopular climate denial articles still carry Google ads,\u201d the news outlet writes. In 2021, YouTube\u2019s parent company <a href=\"https:\/\/support.google.com\/adsense\/answer\/11214106?hl=en-GB\">Google said<\/a> it would ban \u201cads for, and monetisation of, content that contradicts well-established scientific consensus around the existence and causes of climate change.\u201d<\/p>\n<p><strong>Problems with the terms of service:<\/strong> Youtube has a very narrow definition of what it considers climate disinformation, according to the report. \u201cWe need more robust, coordinated and proactive strategies to deal with the scale of the threat to platforms,\u201d the news outlet quotes the researchers 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\/climate-change\/\">climate change<\/a>\n                <!-- <span 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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>MAY 2023<\/strong><\/p>\n<p>8-10 May (Monday-Wednesday): <a href=\"https:\/\/teflasg2f2.com\/\">Global Green Future Fuel<\/a>, Dubai, UAE.<\/p>\n<p>8-10 May (Monday-Wednesday): <a href=\"https:\/\/www.aimcongress.com\/?gclid=Cj0KCQjw8qmhBhClARIsANAtbof4-76eS8t3Yy_1lhLnSSmgzPe4hU6hQGDG1ps8Y3Tbu7i1rowxcy4aAjetEALw_wcB\">Annual Investment Meeting<\/a>, Abu Dhabi, UAE.<\/p>\n<p>8-10 May (Monday-Wednesday): <a href=\"https:\/\/www.worldutilitiescongress.com\/\">World Utilities Congress<\/a>, Abu Dhabi, UAE.<\/p>\n<p>9-11 May (Tuesday): <a href=\"https:\/\/www.world-hydrogen-summit.com\/programme\/\">World Hydrogen 2023 Summit & Exhibition<\/a>, Rotterdam, Netherlands.<\/p>\n<p>9-10 May (Tuesday-Wednesday): <a href=\"https:\/\/www.terrapinn.com\/exhibition\/solar-show-mena\/\">The Solar Show MENA<\/a>, Cairo, Egypt.<\/p>\n<p>9-11 May (Tuesday-Thursday): <a href=\"https:\/\/www.theairportshow.com\/\">The Airport Show<\/a>, Dubai, UAE.<\/p>\n<p>10-11 May (Wednesday-Thursday): <a href=\"https:\/\/moiat.gov.ae\/en\/uae-climate-tech\">UAE Climate Tech<\/a>, Abu Dhabi, UAE.<\/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>19-21 May (Friday-Sunday): <a href=\"https:\/\/sdg.iisd.org\/events\/g7-hiroshima-summit-2023\/\">G7 Hiroshima Summit<\/a>, Hiroshima, Japan.<\/p>\n<p>22-24 May (Monday-Wednesday): <a href=\"https:\/\/ieeepesoman.com\/\">IEEE Power and Energy Forum<\/a>, Muscat, Oman.<\/p>\n<p>24-27 May (Wednesday-Saturday): <a href=\"https:\/\/ent.news\/2023\/4\/1066.pdf\">Second meeting of the COP27 Transitional Committee<\/a>, TBD.<\/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>29-31 May (Monday-Wednesday): <a href=\"https:\/\/www.ccusforum.com\/\">CCUS Forum<\/a>, Doha, Qatar.<\/p>\n<p>30 May-1 June (Tuesday-Thursday): <a href=\"https:\/\/www.timeshighered-events.com\/gsd-congress-2023\">Global Sustainable Development Congress<\/a>, King Abdullah University of Science and Technology (KAUST), KSA.<\/p>\n<p><strong>JUNE 2023<\/strong><\/p>\n<p>1 June (Thursday): <a href=\"https:\/\/energychamber.org\/aecs-invest-in-african-energy-paris-forum-to-take-place-on-june-1\/\">Invest in African Energy Forum<\/a>, Paris, France.<\/p>\n<p>5-8 June (Monday-Thursday): <a href=\"https:\/\/www.districtenergy.org\/events\/exhibit--2023\">IDEA2023<\/a>, Chicago, US<\/p>\n<p>8 June (Thursday): <a href=\"http:\/\/www.envirotecener-expo.com\/\">Envirotec and Energie Expo<\/a>, Tunis, Tunisia.<\/p>\n<p>12-15 June (Monday-Thursday): <a href=\"https:\/\/saudipp.com\/\">Saudi Plastics & Petrochem<\/a>, Riyadh, KSA.<\/p>\n<p>13-14 June (Tuesday- Wednesday): <a href=\"https:\/\/thearabgreensummit.com\/\">The Arab Green Summit<\/a>, Dubai, UAE.<\/p>\n<p>13-14 June (Tuesday- Wednesday) <a href=\"https:\/\/www.bloombergneweconomy.com\/gateway-africa\/\">Bloomberg New Economy Gateway Africa Conference<\/a>, Marrakesh, Morocco.<\/p>\n<p>13-14 June (Tuesday- Wednesday): <a href=\"https:\/\/event.businessfrance.fr\/vision-golfe-en\/\">Vision Golfe 2023<\/a>, French Ministry of the Economy, Finance and Industrial and Digital Sovereignty, Paris, France.<\/p>\n<p>TBA: <a href=\"https:\/\/www.youm7.com\/story\/2023\/4\/30\/%D8%A3%D9%88%D9%84-%D9%85%D9%86%D8%AA%D8%AF%D9%89-%D9%84%D9%84%D8%A7%D8%B3%D8%AA%D8%AB%D9%85%D8%A7%D8%B1-%D8%A7%D9%84%D8%A8%D9%8A%D8%A6%D9%89-%D9%88%D8%A7%D9%84%D9%85%D9%86%D8%A7%D8%AE%D9%8A-%D8%A8%D8%B9%D8%AF-%D9%82%D9%85%D8%A9-%D8%A7%D9%84%D9%85%D9%86%D8%A7%D8%AE-%D9%81%D9%89-%D9%85%D8%B5%D8%B1\/6163453#:~:text=%D9%8A%D8%A3%D8%AA%D9%89%20%D8%A5%D8%B7%D9%84%D8%A7%D9%82%20%D9%85%D9%86%D8%AA%D8%AF%D9%89%20%D8%A7%D9%84%D8%A7%D8%B3%D8%AA%D8%AB%D9%85%D8%A7%D8%B1%20%D8%A7%D9%84%D8%A8%D9%8A%D8%A6%D9%89,%D8%A7%D9%84%D9%81%D8%B1%D8%B5%20%D9%88%D9%82%D8%B5%D8%B5%20%D8%A7%D9%84%D9%86%D8%AC%D8%A7%D8%AD%20%D9%84%D9%84%D9%85%D8%B4%D8%B1%D9%88%D8%B9%D8%A7%D8%AA%20%D8%A7%D9%84%D8%A8%D9%8A%D8%A6%D9%8A%D8%A9\">Egypt\u2019s post-COP27 Environmental and Climate Investment Forum<\/a>, Egypt.<\/p>\n<p><strong>JULY 2023<\/strong><\/p>\n<p>3-7 July (Monday-Friday): <a href=\"https:\/\/aic2023.geo.unibuc.ro\/en\/\">The 36th Conference of the International Association of Climatology<\/a>, Bucharest, Romania.<\/p>\n<p>22-23 July (Saturday-Sunday): <a href=\"https:\/\/ent.news\/2023\/4\/1066.pdf\">Second COP27 transitional committee workshop<\/a>, Bangkok, Thailand.<\/p>\n<p><strong>AUGUST 2023<\/strong><\/p>\n<p>20-24 August (Sunday-Wednesday): <a href=\"https:\/\/www.worldwaterweek.org\/\">World Water Week 2023<\/a>, Stockholm, Sweden.<\/p>\n<p>29 August-1 September (Tuesday-Friday): <a href=\"https:\/\/ent.news\/2023\/4\/1066.pdf\">Third meeting of the COP27 Transitional Committee<\/a>, TBD.<\/p>\n<p><strong>SEPTEMBER 2023<\/strong><\/p>\n<p>9-20 September (Saturday-Wednesday): <a href=\"https:\/\/www.un.org\/en\/conferences\/SDGSummit2023\">2023 Sustainable Development Goals Summit<\/a>, New York, USA.<\/p>\n<p>11-13 September (Monday-Wednesday): <a href=\"https:\/\/10times.com\/e1r3-x4p2-z8sd\">Global Congress on Renewable and Non-Renewable Energy<\/a>, Dubai, UAE.<\/p>\n<p>12-15 September (Tuesday-Friday): <a href=\"https:\/\/www.wto.org\/english\/forums_e\/public_forum_e\/public_forum_e.htm\">WTO Public Forum<\/a>, Geneva, Switzerland.<\/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>4 October (Wednesday): Arabia CSR Gala Awarding Ceremony, UAE.<\/p>\n<p>16-18 October (Monday-Wednesday): <a href=\"https:\/\/www.climatelinks.org\/events\/climate-week-2022-2nd-world-conference-climate-change-sustainability\">Climate Week<\/a>, Rome, Italy.<\/p>\n<p>17-20 October (Tuesday-Friday): <a href=\"https:\/\/ent.news\/2023\/4\/1066.pdf\">Fourth meeting of the COP27 Transitional Committee<\/a>, TBD.<\/p>\n<p>29 October- 2 November (Sunday-Thursday): <a href=\"https:\/\/bit.ly\/40YIn6F\">Cairo Water Week<\/a>, Cairo, Egypt<\/p>\n<p>31 October \u2013 2 November (Tuesday-Thursday): <a href=\"https:\/\/www.worldhydropowercongress.org\/\">World Hydropower Congress<\/a>, Bali, Indonesia.<\/p>\n<p><strong>NOVEMBER 2023<\/strong><\/p>\n<p>9-10 November (Thursday-Friday): <a href=\"https:\/\/www.irena.org\/News\/pressreleases\/2023\/Mar\/IRENA-To-Hold-First-Latin-American-Investment-Forum-in-Uruguay\">International Renewable Energy Agency Investment Forum<\/a>, Uruguay.<\/p>\n<p>15-17 November (Wednesday-Friday): <a href=\"https:\/\/www.wetex.ae\/\">WETEX and Dubai Solar Show,<\/a> Dubai, UAE.<\/p>\n<p>15-18 November (Wednesday-Saturday): DEWA\u2019s <a href=\"https:\/\/mediaoffice.ae\/en\/news\/2023\/May\/07-05\/DEWA-MENA-Solar-Conference\">First MENA Solar Conference<\/a>, Dubai, UAE.<\/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>FEBRUARY 2024<\/strong><\/p>\n<p>26-28 February (Monday-Wednesday): <a href=\"https:\/\/conferences.uaeu.ac.ae\/warms2024\/en\/index.shtml\">Management and Sustainability of Water Resources<\/a>, Dubai, UAE.<\/p>\n<p><strong>EVENTS WITH NO SET DATE<\/strong><\/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>Mid-2023: Oman <a href=\"https:\/\/www.meed.com\/oman-to-sign-multibillion-dollar-hydrogen-contracts\">set to sign contracts<\/a> for green hydrogen projects.<\/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><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><strong>2025 <\/strong><\/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><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>2050<\/strong><\/p>\n<p><a href=\"https:\/\/www.facebook.com\/Presidencedugouvernementtunisien\/posts\/pfbid02urYKuUDF91i7dtVRR3yrSFzM4p5aG1JUormqfgnbjuUMTSGzmL2DrY8Z7wyfA7vBl?locale=ar_AR\">Tunisia\u2019s carbon neutrality target<\/a>.<\/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":77330,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-77329","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"056f9cf9-7349-43bd-99ca-160d5102ed08","teaser":"","photo_url":"https:\/\/ent.news\/2020\/10\/38.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>UAE\u2019s Mensha Ventures inks USD 1 bn green energy agreement with Chinese investors - 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\/uaes-mensha-ventures-inks-usd-1-bn-green-energy-agreement-with-chinese-investors\/\" \/>\n<meta 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