{"id":77366,"date":"2023-05-11T07:10:43","date_gmt":"2023-05-11T07:10:43","guid":{"rendered":"https:\/\/enterpriseam.com\/climate\/?post_type=issue&#038;p=77366"},"modified":"2025-12-15T08:55:21","modified_gmt":"2025-12-15T08:55:21","slug":"acwa-power-alcazar-energy-and-infinity-reportedly-eyeing-stakes-in-egypts-wind-farms","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/climate\/issues\/acwa-power-alcazar-energy-and-infinity-reportedly-eyeing-stakes-in-egypts-wind-farms\/","title":{"rendered":"Acwa Power, Alcazar Energy, and Infinity reportedly eyeing stakes in Egypt\u2019s wind farms"},"content":{"rendered":"<section id=\"77368\" 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=\"77368\">\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\/11\/today-are-acwa-power-alcazar-energy-and-infinity-eyeing-stakes-in-egyptian-wind-farms\/\">\r\n                            TODAY: Are Acwa Power, Alcazar Energy, and Infinity eyeing stakes in Egyptian wind farms?                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/climate\/2023\/05\/11\/today-are-acwa-power-alcazar-energy-and-infinity-eyeing-stakes-in-egyptian-wind-farms\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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Let\u2019s jump right in, <strong>but first\u2026<\/strong><\/p>\n<p class='web-image' ><a href='https:\/\/exportsfdi.enterprise.press\/registration.html'><img decoding=\"async\" data-recalc-dims=\"1\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/5\/606.jpg?ssl=1\" alt='enterprise'><\/a><\/p>\n<p><strong>We\u2019re only four days away from meeting with some of you at the Enterprise Exports and <\/strong><strong>FDI Forum,<\/strong> taking place at the Four Seasons at the Nile Plaza on<strong> Monday, 15 May. <\/strong><\/p>\n<p><strong>We\u2019re proud to announce that our friend Cheick-Oumar Sylla, director for North Africa and the Horn of Africa at the IFC, is joining us for the forum. Are you?<\/strong> Cheick-Oumar Sylla will be speaking on why exports and FDI are the way forward. He is joined on stage for that discussion by <strong>Yasmine Khamis<\/strong> chair of The Orientals Group and <strong>Yassir Zouaoui <\/strong>partner at McKinsey, and who will speak on what lessons have worked from around the world.<\/p>\n<p><strong>The panel will be co-moderated by our friend Helmy Ghazi, deputy CEO of HSBC Egypt,<\/strong> the anchor of our most-read story ever (<a href=\"https:\/\/enterprise.press\/issues\/2022\/10\/18\/am-a-five-step-recipe-to-boost-exports-fdi-and-make-sure-egypt-never-has-to-ask-the-imf-for-another-cent\/\">Five steps to build a new Egyptian economy<\/a>).<\/p>\n<p><strong>Who else is speaking<\/strong><strong>?<\/strong> Among the CEOs, top execs, bankers, and development finance folks speaking at the conference are (in no particular order): <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 of Beyti; <strong>Mohamed Talaat Khalifa<\/strong>, CEO of Concrete; <strong>Kareem Abou Ghaly<\/strong>, chairman and CEO of Pasta Regina; <strong>Tarek Hosny<\/strong>, head of investments and projects at Fertiglobe; <strong>Nadia El Tawil,<\/strong> investment officer at AfricInvest; <strong>Shams Eweis<\/strong>, corporate affairs director, Egypt, North Africa and Levant at Mars; <strong>Mostafa Bedair<\/strong>, CEO of Giza Seeds and Herbs; <strong>Hassan Massoud<\/strong>, associate director and head of private equity (Southern Mediterranean), at the EBRD; <strong>Hossam Abou Moussa,<\/strong> partner at Apis; <strong>Shady William<\/strong>, managing director of IDG; <strong>Nada El Ahwal,<\/strong> CSO of Transmar; <strong>Mohamed El Gebely,<\/strong> team leader at USAID Trade; <strong>Hossam Sallab,<\/strong> CEO and vice-chairman, Sallab Group and Royal Ceramica; and <strong>Abdallah Sallam<\/strong>, CEO of Madinet Masr.<\/p>\n<p><strong>Topics and live interviews will include:<\/strong><\/p>\n<ul>\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<li>How Egypt\u2019s industries need to be open to evolution to become more competitive.<\/li>\n<\/ul>\n<p>\n <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>Saudi Arabia\u2019s Acwa Power, the UAE\u2019s Alcazar Energy and renewables firm Infinity are reportedly among seven companies looking to bid for a stake in two of Egypt\u2019s largest wind farms. Meanwhile in the UAE, a consortium of OCI-Adnoc joint venture Fertiglobe, UAE renewables player Masdar, and French energy group Engie is considering a green hydrogen project in Abu Dhabi.<\/p>\n<p><strong>^^ <\/strong><strong>We have the details on these stories and more in the news well, below.<\/strong><\/p>\n<hr class=\"grey-line\">\n<p><strong>THE BIG CLIMATE STORY OUTSIDE THE REGION- No single story is dominating international headlines on the climate news front<\/strong>, but the US government\u2019s approval of a nuclear waste storage facility in New Mexico is making the rounds. The US Nuclear Regulatory Commission greenlit a license allowing nuclear reactor developer Holtec International to build and operate a USD multi-bn temporary nuclear waste storage facility for 40 years despite New Mexico legislation set to come into effect on 15 June prohibiting the storage of atomic waste until the federal government comes up with a permanent storage mechanism for the spent nuclear fuel. Holtec plans to store some 500 canisters holding nearly 8.7k tons of the depleted fuel over the 40-year life cycle of the project, with plans to up its storage capacity to 10k canisters in 19 additional phases.<\/p>\n<p><strong>The story got coverage in <\/strong><a href=\"https:\/\/www.reuters.com\/business\/energy\/us-approves-temporary-nuclear-waste-storage-new-mexico-2023-05-09\/\">Reuters<\/a>, <a href=\"https:\/\/apnews.com\/article\/nuclear-power-plant-fuel-storage-radioactive-2019af77721db2869ee5165dda5d1cef\">the Associated Press<\/a>, <a href=\"https:\/\/www.washingtonpost.com\/business\/2023\/05\/09\/nuclear-power-plant-fuel-storage-radioactive\/a7557f30-ee98-11ed-b67d-a219ec5dfd30_story.html\">the Washington Post<\/a>, and <a href=\"https:\/\/news.bloomberglaw.com\/health-law-and-business\/holtec-gets-approval-for-new-mexico-nuclear-waste-storage-site\">Bloomberg<\/a>.<\/p>\n<hr class=\"grey-line\">\n<p><a class=\"content-anchor\" id=\"tldr-story-05\"><\/a> <strong>WATCH THIS SPACE #1- New UAE legislation for EV charging stations? <\/strong>The UAE\u2019s Energy and Infrastructure Ministry is looking to introduce new legislation for EV charging stations that would ensure fast charge times at a reasonable price, <a href=\"https:\/\/wam.ae\/ar\/details\/1395303156142\">Wam<\/a> reported, citing statements by Minister Suhail Al Mazrouei. The minister did not provide further details about the proposed legislation, but said the UAE intends to increase the number of EV stations available nationwide to 800 locations \u2014 up from the some 500 stations currently available.<\/p>\n<p><strong>The UAE is on track:<\/strong> UAE fuel distribution company Adnoc Distribution partnered in January with Abu Dhabi National Energy Company (Taqa) to <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/3c2b3df7-6693-4917-b57d-b6dee4e54cae\">establish a joint venture<\/a> called E2GO to build and operate EV infrastructure in Abu Dhabi and the wider UAE. The JV aims to build EV charging points across the UAE. Some 70k charging points with investments of up to USD 200 mn are needed in Abu Dhabi by 2030 to meet growing EV demand.<\/p>\n<hr class=\"grey-line\">\n<p><strong>WATCH THIS SPACE #2- India is interested in Egypt\u2019s EV market: <\/strong>Indian commercial vehicle maker <a href=\"https:\/\/www.ashokleyland.com\/\">Ashok Leyland<\/a> is interested in cooperating with Egypt\u2019s state-owned El Nasr Automotive Manufacturing Company to manufacture commercial EVs in Egypt, according to a <a href=\"https:\/\/bit.ly\/42qWRgS\">statement<\/a>. Amandeep Singh, who heads the Indian company\u2019s International Operation, said Indian banks could provide the necessary funding for the potential JV with El Nasr.<\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-06\"><\/a> <strong>WATCH THIS SPACE #3- No dice for Aramco\u2019s blue hydrogen exports:<\/strong> Difficulties in identifying and securing blue hydrogen off-take agreements in markets like the EU, South Korea, and Japan will drive Saudi oil giant Aramco to throw its weight behind natural gas exports instead, Aramco CEO Amin Nasser said on an analyst call, according to <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-05-09\/aramco-weighs-lng-exports-as-hydrogen-negotiations-prove-tough?leadSource=uverify%20wall\">Bloomberg<\/a>. A lack of government incentives supporting the growth of blue hydrogen \u2014 even in developed countries \u2014 coupled with high production costs is making it difficult for markets like Japan and Korea to pursue low-carbon hydrogen, according to Nasser. Aramco will therefore not sanction investment decisions for blue hydrogen export projects until it secures a concrete off-take agreement, Nasser said.<\/p>\n<p><strong>REMEMBER- MENA has big blue hydrogen ambitions: <\/strong>Aramco and KSA\u2019s SABIC Agri-Nutrients <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/cde05ac7-f056-4ead-89a0-f4c9766e737c\">shipped<\/a> in November 25k tons of blue ammonia to South Korea. Saudi mining company Ma\u2019aden, which in March inked an MoU with Japanese industrial conglomerate Mitsui & Co. <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/ae7ce2a6-4255-4f8c-9da1-c31f93e4e4c2\">in March<\/a> and another with the Taiwan Fertiliser Company that could see it become the first commercial supplier of blue ammonia to both Japan and Taiwan. Over in Qatar, state-owned QatarEnergy <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/cc2bd5c8-79fc-4993-8806-6cac0e90c6fc\">signed<\/a> earlier in September agreements to build the world\u2019s largest blue ammonia plant \u2014 worth USD 1 bn \u2014 which is set to produce 1.2 mn tons of the green fuel annually.<\/p>\n<hr class=\"grey-line\">\n<p><strong>WATCH THIS SPACE #4- Taqa is on the hunt for more projects to invest in: <\/strong>Abu Dhabi National Energy Company (Taqa) is looking for more investment opportunities following a USD 31.1 mn investment in Xlinks\u2019 <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/93dd0ba0-81cd-481c-b792-00590a24b3bf\">Morocco-UK Power Project<\/a>, <a href=\"https:\/\/www.thenationalnews.com\/business\/energy\/2023\/05\/10\/taqa-considers-more-deals-after-31m-investment-in-british-start-up-xlinks-first\/\">The National<\/a> reports. \u201cWe are actively looking at opportunities that actually fit us, within the UAE and outside the UAE,\u201d Omar Al Hashimi, executive director of transmission and distribution at Taqa Group, told the newspaper.<\/p>\n<p><strong>WATCH THIS SPACE #5- UAE doubles down on targeting emissions, not fossil <\/strong><strong>fuel production: <\/strong>Countries should be called upon to phase out fossil fuel emissions instead of cutting the production of oil, gas, and coal, UAE Climate Change and Environment Minister Mariam Almheiri told <a href=\"https:\/\/www.reuters.com\/business\/environment\/world-not-ready-yet-switch-off-fossil-fuels-cop28-host-uae-says-2023-05-09\/\">Reuters<\/a>. Almheiri said that halting production would hurt countries that rely on fossil fuel revenue streams and lack appropriate alternatives, which necessitates balancing climate change commitments with economic realities. \u201cThe renewable space is advancing and accelerating extremely fast but we are nowhere near to be able to say that we can switch off fossil fuels and solely depend on clean and renewable energy,\u201d Almheiri said.<\/p>\n<p><strong>More carbon capture, no fossil fuel phase outs: <\/strong>The UAE is calling for <a href=\"https:\/\/www.reuters.com\/business\/sustainable-business\/uaes-jaber-urges-methane-emissions-phase-out-by-2030-2023-05-10\/\">phasing out<\/a><a href=\"https:\/\/www.reuters.com\/business\/sustainable-business\/uaes-jaber-urges-methane-emissions-phase-out-by-2030-2023-05-10\/\">emissions<\/a> by using carbon capture and storage technologies while simultaneously ramping up the development of renewable energy sources.<\/p>\n<hr class=\"grey-line\">\n<p><strong>DATA POINT- Egypt\u2019s renewables production capacity grew 12.5% y-o-y in 1Q 2023<\/strong>, according to a <a href=\"http:\/\/www.nrea.gov.eg\/Media\/New\/2131\">report<\/a> by the country\u2019s New and Renewable Energy Authority (NREA). The country increased its hydropower capacity 9% y-o-y, upped its solar and wind energy generation 12.5% y-o-y, and generated some 22 GW of clean electricity from biofuels during the same period, NREA notes.<\/p>\n<div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">\n          Get <b style=\"font-weight: 700\">Enterprise<\/b> daily<br \/>\n        <\/h4>\n<\/p><\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>     <a href=\"climate\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\">Subscribe here<\/a>\n    <\/div>\n<\/p><\/div>\n<\/div>\n<p><p>***<br \/>\n <strong>YOU\u2019RE READING ENTERPRISE CLIMATE, the essential regional publication for senior execs who care about the world\u2019s most important industry. <\/strong>Enterprise Climate covers everything from finance and tech to regulation, products and policy across the Middle East and North Africa. In a nod to the growing geographical ambitions of companies in our corner of the world, we also include an overview of the big trends and data points in nearby countries, including Africa and southern Europe.<\/p>\n<p><strong>Enterprise Climate is published by 5am CLT \/ 5am Riyadh \/ 6am UAE Monday through Thursday by Enterprise<\/strong>, the folks who bring you Enterprise Egypt, your essential 6am and 3pm read on business, finance, policy and economy in Egypt and emerging markets.<\/p>\n<p><strong>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><strong><a href=\"https:\/\/climate.enterprise.press\/subscribe\/\">Subscribe to Enterprise Climate here<\/a><\/strong> or reach out to us on <a href=\"mailto:climate@enterprisemea.com\">climate@enterprisemea.com<\/a> with comments, suggestions and story tips.<br \/>\n <strong>***<\/strong><\/p>\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>Oman will host the <\/strong><strong><a href=\"https:\/\/ieeepesoman.com\/\">Power and Energy Conference<\/a><\/strong><strong> from 22 May to 25 May <\/strong>in Muscat. The event will bring together local and global industry leaders to discuss global energy market policy updates, future demand and growth projections in the sector, integration and power grid obstacles, and growth potential associated with renewables and EV deployments.<\/p>\n<p><strong>Germany will host the <\/strong><strong><a href=\"https:\/\/unfccc.int\/sites\/default\/files\/resource\/Notification_LD_TC2_NGO_observers.pdf\">second meeting of the COP27 Transitional Committee<\/a><\/strong><strong> from 25 May <\/strong><strong>to 27 of May <\/strong>in Bonn. The meeting will build on the loss and damage fund established during COP27 with the aim of establishing institutional mechanisms and governance structures for financing, and will bring together a host of international financial institutions to discuss pathways to increasing funding capacity for climate vulnerable countries.<\/p>\n<p><strong>The UAE will host the <\/strong><strong><a href=\"https:\/\/www.evinnovationsummit.com\/about#conference\">Electric Vehicle Innovation Summit<\/a><\/strong><strong> from 29 May to 31 May<\/strong> in Abu Dhabi. The conference will bring together state representatives, industry players from the EV sector, as well as engineers and researchers to discuss policy trends and tech innovations in the industry and provide attendees with networking opportunities across value chains.<\/p>\n<p><strong>Qatar will host the Carbon Capture, Utilisation and Storage (CCUS) Forum from 29 May to <\/strong><strong>31 May <\/strong>in Lusail City. The event aims to spotlight MENA\u2019s CCUS regulations and policies, map out paths and business models that would bring down CCUS project costs, promote regional and international cooperation to advance the international carbon capture sector, and discuss the role CCUS will play in helping Gulf countries meet their net zero targets.<\/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\/aramco\/\">Aramco<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/egypt\/\">Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/evs\/\">EVs<\/a>\n               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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=\"77371\" 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=\"77371\">\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\">M&amp;A WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/climate\/2023\/05\/11\/acwa-power-alcazar-energy-and-infinity-reportedly-eyeing-stakes-in-egypts-wind-farms\/\">\r\n                            Acwa Power, Alcazar Energy, and Infinity reportedly eyeing stakes in Egypt\u2019s wind farms                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" 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data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/5\/1859.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1859.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/5\/1859.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/5\/1859.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-77371\" class=\"content-area-description single-story post-77371 post type-post status-publish format-standard has-post-thumbnail hentry category-ma-watch-2 tag-acwa-power tag-alcazar-energy tag-egypt tag-enterpriseclimate tag-ma-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>Egypt\u2019s wind farms may be getting some attention: <\/strong>Saudi Arabia\u2019s Acwa Power, the UAE\u2019s Alcazar Energy and renewables firm Infinity are reportedly among seven companies looking to bid for a stake in two of Egypt\u2019s largest wind farms, <a href=\"https:\/\/www.asharqbusiness.com\/article\/50053\/%D8%A3%D9%83%D9%88%D8%A7-%D8%A8%D8%A7%D9%88%D8%B1-%D8%A7%D9%84%D8%B3%D8%B9%D9%88%D8%AF%D9%8A%D8%A9-%D9%88%D8%A7%D9%84%D9%83%D8%A7%D8%B2%D8%A7%D8%B1-%D8%A7%D9%84%D8%A5%D9%85%D8%A7%D8%B1%D8%A7%D8%AA%D9%8A%D8%A9-%D9%85%D9%87%D8%AA%D9%85%D8%AA%D8%A7%D9%86-%D8%A8%D8%B4%D8%B1%D8%A7%D8%A1-%D9%85%D8%AD%D8%B7%D8%A7%D8%AA-%D8%B1%D9%8A%D8%A7%D8%AD-%D8%AC%D8%A8%D9%84-%D8%A7%D9%84%D8%B2%D9%8A%D8%AA-%D9%88%D8%A7%D9%84%D8%B2%D8%B9%D9%81%D8%B1%D8%A7%D9%86%D8%A9-%D9%81%D9%8A-%D9%85%D8%B5%D8%B1\/\">Asharq Business<\/a> reports, citing two anonymous sources it says are close to the matter. It is unclear who the other four bidders might be, and the size and value of the stake up for grabs was not revealed. A representative at Infinity declined to comment when Enterprise Climate reached out yesterday.<\/p>\n<p><strong>The details:<\/strong> The 580 MW <a href=\"http:\/\/www.nrea.gov.eg\/Technology\/WindStations\">Gabal El Zeit<\/a> and 545 MW <a href=\"http:\/\/www.nrea.gov.eg\/Technology\/WindStations\">Zafarana<\/a> wind farms are wholly owned by Egypt\u2019s New and Renewable Energy Authority (NREA). The acquisitions are expected to be completed before the end of 2023, Asharq cites one of its sources as saying. The Egyptian cabinet has formed a committee to negotiate with potential investors and review offers for Gabal El Zeit, noting that it\u2019s already received some offers for the wind farm, and is reviewing the expected timeline for the Zafarana wind farm, <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid02XnWjrQRaaKYx9r48JrdoQXbDskV5HcxgnvNgWJJJmYWeuhTXCcXcxcom7XvJGRgGl\">it said<\/a> earlier this week.<\/p>\n<p><strong>Acwa Power, Alcazar, and Infinity already have vested interests in Egypt:<\/strong> All three companies signed multiple MoUs and agreements in the sector in the past year. Acwa <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/9928ba0c-825c-418a-8d36-45df5db6fd16\">signed<\/a> an MoU in November last year with the NREA and Egyptian Electricity Transmission Company to build a 10 GW wind farm in Egypt and <a href=\"https:\/\/enterprise.press\/stories\/2022\/06\/22\/usd-8-bn-from-ksa-and-much-morepossibly-usd-30-bn-more-74411\/\">signed<\/a> a 25-year power purchase agreement alongside Hassan Allam last June to develop a 1.1 GW wind farm in the Gulf of Suez. Infinity Power \u2014 a joint venture between Infinity and Masdar \u2014 is set to <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a47a543d-1e04-4e8f-816e-558dff985f59\">build<\/a> a 10 GW onshore wind farm in Egypt, alongside Hassan Allam Utilities and Masdar. Alcazar <a href=\"https:\/\/climate.enterprise.press\/issues\/2022\/08\/29\/welcome-first-issue-enterprise-climate-2\/\">signed<\/a> an early agreement to build green fuel facilities in the Ain Sokhna Industrial Zone in August last year. The company also recently <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/eabbb6a3-3a5e-4df9-9910-a489d4ba7f32\">signed<\/a> a partnership agreement with Egypt-based Madkour Group to work together on renewable energy projects in Egypt and Africa.<\/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\/acwa-power\/\">ACWA Power<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/alcazar-energy\/\">Alcazar Energy<\/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\/ma-watch\/\">M&amp;A 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=\"77373\" 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=\"77373\">\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\">GREEN HYDROGEN<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/climate\/2023\/05\/11\/fertiglobe-masdar-engie-are-exploring-a-world-scale-green-hydrogen-project-in-abu-dhabi\/\">\r\n                            Fertiglobe, Masdar, Engie are exploring a world-scale green hydrogen project in Abu Dhabi                        <\/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\/11\/fertiglobe-masdar-engie-are-exploring-a-world-scale-green-hydrogen-project-in-abu-dhabi\/\" 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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There are ongoing studies between the consortium for the 100-200 MW facility, he said.<\/p>\n<p><strong>Busy in the run up to COP28: <\/strong>The new green hydrogen project falls under several projects Fertiglobe plans to launch by the end of the year, El Hoshy said. He added that his company is considering other green hydrogen and blue ammonia projects in Abu Dhabi in the coming years.<\/p>\n<p><strong>We already had a clue this was in the works:<\/strong> The three renewables players <a href=\"https:\/\/oci-global.com\/news-stories\/press-releases\/fertiglobe-announces-collaboration-agreement-with-masdar-and-engie-to-co-develop-green-hydrogen-for-ammonia-production\/\">signed an<\/a><a href=\"https:\/\/oci-global.com\/news-stories\/press-releases\/fertiglobe-announces-collaboration-agreement-with-masdar-and-engie-to-co-develop-green-hydrogen-for-ammonia-production\/\">agreement<\/a> last year to study co-developing a \u201cglobally cost-competitive\u201d 200 MW green hydrogen facility in the UAE to back the production of green ammonia. They plan to have the facility operational in 2025, with Fertiglobe serving as the <a href=\"https:\/\/oci-global.com\/news-stories\/press-releases\/fertiglobe-announces-collaboration-agreement-with-masdar-and-engie-to-co-develop-green-hydrogen-for-ammonia-production\/\">sole long term off-taker<\/a>.<\/p>\n<p><strong>And there\u2019s an update on Fertiglobe\u2019s project in Egypt:<\/strong> The company will reveal a full investment decision regarding its 100 MW electrolyzer plant with Norway\u2019s Scatec, Orascom Construction, and the Sovereign Fund of Egypt (SFE) in Ain Sokhna by the end of the year, El Hoshy said. Production capacity at the facility \u2014 which <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/99ca1d1b-be1a-45fd-99ef-358318449438\">began commissioning in November<\/a> \u2014 could reach 90k tons of green hydrogen per year when the next phases are completed, he added.<\/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\/blue-ammonia\/\">blue ammonia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/cop28\/\">COP28<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/engie\/\">Engie<\/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\/green-hydrogen\/\">green 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                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"77375\" 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=\"77375\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/climate\/2023\/05\/11\/77375\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-77375\" class=\"content-area-description single-story post-77375 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=\"77376\" 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=\"77376\">\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\">EARNINGS WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/climate\/2023\/05\/11\/acwa-power-reports-78-y-o-y-growth-in-net-income-in-1q-2023\/\">\r\n                            Acwa Power reports 78% y-o-y growth in net income in 1Q 2023                        <\/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\/11\/acwa-power-reports-78-y-o-y-growth-in-net-income-in-1q-2023\/\" 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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Its revenues were up 16% y-o-y during the quarter to SAR 1.3 bn, it added.<\/p>\n<p><strong>A reason or two:<\/strong> The growth came mainly due to a higher operating income before impairment and other expenses on the back of a higher contribution from existing and new projects, Acwa said. \u201cThese were partially offset by lower contributions from development and construction management services fees earned for projects and higher general and administrative expenses in line with business growth,\u201d it added. A lower zakat and tax charge also contributed to the growth after the recognition of a deterred tax credit on account of FX fluctuations in Morocco.<\/p>\n<p><strong>There was a bit of a downside:<\/strong> The increases in net income were somewhat offset by higher finance charges on the back of increased finance costs due to higher market interest rates and increased finance costs from additional debt related to the second tranche of sukuk issued by the company in February, it added.<\/p>\n<p><strong>Some progress during the quarter:<\/strong> Acwa Power said it \u201cachieved significant milestones on the business development landscape during the first quarter of 2023,\u201d according to an <a href=\"https:\/\/www.acwapower.com\/news\/acwa-power-achieves-steady-operating-growth-for-the-first-quarter-of-2023\/#:~:text=In%20the%20first%20quarter%20of,the%20same%20period%20last%20year.\">earnings release<\/a>.Those include three power purchase agreements (PPA) with Uzbekistan for three solar PV plants with combined capacity of <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/46255998-c3f3-4814-a5a4-2cdf891cf0cc\">1.4k megawatt<\/a> alternating currency (MWAc) and battery energy storage systems with an overall capacity of 1.5k MWh. It also announced the signing of a water purchase agreement (WPA) with the Saudi Water Partnership Company for the development and operation of a water desalination plant using reverse osmosis technology with a capacity of up to 600k cbm\/day at the south of Rabigh city.<\/p>\n<p><strong>Quite an eventful quarter:<\/strong> Two dry financial closes were also achieved during the quarter, including a SAR 24 bn financing for smart city <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/5b25cd90-e450-47ee-b0a9-3f382940309e\">NEOM\u2019s green hydrogen project<\/a>, which is set to be \u201cthe world\u2019s largest at-scale green hydrogen production project.\u201d Three other projects, including <a href=\"https:\/\/acwapower.com\/en\/projects\/jazan-igcc\/\">Jazan Integrated Gasification Combined Cycle<\/a> project\u2019s Group 2 assets, Noor Energy 1\u2019s 300 MW two units, and <a href=\"https:\/\/acwapower.com\/en\/projects\/jubail-3a-iwp\/\">Jazlah Independent Water Plant<\/a>, also began commercial operations during the quarter.<\/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\/acwa-power\/\">ACWA Power<\/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\/neom\/\">Neom<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/saudi-arabia\/\">Saudi Arabia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"77378\" 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=\"77378\">\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\">EARNINGS WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/climate\/2023\/05\/11\/marafiq-1q-2023s-net-income-down-on-back-of-higher-financing-costs\/\">\r\n                            Marafiq 1Q 2023\u2019s net income down on back of higher financing costs                        <\/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\/11\/marafiq-1q-2023s-net-income-down-on-back-of-higher-financing-costs\/\" 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\/11\/marafiq-1q-2023s-net-income-down-on-back-of-higher-financing-costs\/')\">\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\/11\/marafiq-1q-2023s-net-income-down-on-back-of-higher-financing-costs\/\">\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=Marafiq 1Q 2023\u2019s net income down on back of higher financing costs&url=https:\/\/enterpriseam.com\/climate\/2023\/05\/11\/marafiq-1q-2023s-net-income-down-on-back-of-higher-financing-costs\/\">\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\/11\/marafiq-1q-2023s-net-income-down-on-back-of-higher-financing-costs\/&title=Marafiq 1Q 2023\u2019s net income down on back of higher financing costs\">\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=Marafiq+1Q+2023%E2%80%99s+net+income+down+on+back+of+higher+financing+costs+https%3A%2F%2Fenterpriseam.com%2Fclimate%2F2023%2F05%2F11%2Fmarafiq-1q-2023s-net-income-down-on-back-of-higher-financing-costs%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\/11\/marafiq-1q-2023s-net-income-down-on-back-of-higher-financing-costs\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/10\/151.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"77379\" data-permalink=\"https:\/\/enterpriseam.com\/climate\/2023\/05\/11\/marafiq-1q-2023s-net-income-down-on-back-of-higher-financing-costs\/151-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/10\/151.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"151.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/10\/151.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/10\/151.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-77378\" class=\"content-area-description single-story post-77378 post type-post status-publish format-standard has-post-thumbnail hentry category-earnings-watch tag-earnings-watch tag-enterpriseclimate tag-marafiq tag-pif wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Not the best quarter for Marafiq:<\/strong> The Saudi Public Investment Fund-backed <a href=\"https:\/\/www.marafiq.com.sa\/\">Marafiq<\/a>saw its net income fall 25.3% y-o-y in 1Q 2023 to SAR 106.7 mn on the back of higher financing costs, according to a <a href=\"https:\/\/bit.ly\/3LUaXQM\">disclosure to Tadawu<\/a><a href=\"https:\/\/bit.ly\/3LUaXQM\">l<\/a>. Revenues were up by a marginal c.1% y-o-y during the first three months of the year to report SAR 1.47 bn.<\/p>\n<p><strong>What they said:<\/strong> \u201cThe reason for the decrease in net income is due to increase in financing costs, despite the increase in the company's operating revenues as a result of the increase in the quantities sold in most of the company's main sectors,\u201d Marafiq said.<\/p>\n<p><strong>What do they do? <\/strong>Marafiq has core businesses including water supply, sewage, and waste management and treatment.<\/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\/marafiq\/\">marafiq<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/pif\/\">PIF<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"77380\" 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=\"77380\">\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\">CLIMATE IN THE NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/climate\/2023\/05\/11\/ferrari-still-plans-to-be-carbon-neutral-despite-continued-use-of-internal-combustion-engines-swiss-researchers-have-made-a-breakthrough-in-waste-management\/\">\r\n                            Ferrari still plans to be carbon neutral despite continued use of internal combustion engines + Swiss researchers have made a breakthrough in waste management                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a 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href=\"https:\/\/enterpriseam.com\/climate\/2023\/05\/11\/ferrari-still-plans-to-be-carbon-neutral-despite-continued-use-of-internal-combustion-engines-swiss-researchers-have-made-a-breakthrough-in-waste-management\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/5\/1860.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"77381\" data-permalink=\"https:\/\/enterpriseam.com\/climate\/2023\/05\/11\/ferrari-still-plans-to-be-carbon-neutral-despite-continued-use-of-internal-combustion-engines-swiss-researchers-have-made-a-breakthrough-in-waste-management\/1860-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/5\/1860.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1860.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/5\/1860.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/5\/1860.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-77380\" class=\"content-area-description single-story post-77380 post type-post status-publish format-standard has-post-thumbnail hentry category-climate-in-the-news tag-climate-change tag-climate-in-the-news tag-e-fuels tag-enterpriseclimate tag-eu tag-ferrari tag-india tag-switzerland tag-waste-management wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Ferrari says its continued manufacturing of internal combustion engines using <\/strong><strong>e-fuels won\u2019t <\/strong><strong>clash with its plans to become carbon neutral by 2030<\/strong>, <a href=\"https:\/\/www.reuters.com\/business\/autos-transportation\/ferrari-ceo-says-e-fuel-cars-do-not-compromise-carbon-goals-2023-05-09\/\">Reuters<\/a> quotes CEO Benedetto Vigna as saying. \u201cThe two (targets) are very much compatible,\u201d Vigna said during a conference. He had previously hailed a decision by the EU to exempt cars running on e-fuels from its planned 2035 phaseout of new combustion engine cars deadline, or 2036 for small-scale manufacturers like Ferrari.<\/p>\n<p><strong>About e-fuels:<\/strong> E-fuels are a class of synthetic fuels that are manufactured using captured CO2 emissions and hydrogen extracted from renewables or zero carbon dioxide electricity, according to <a href=\"https:\/\/www.reuters.com\/business\/autos-transportation\/what-are-e-fuels-can-they-help-make-cars-co2-free-2023-03-07\/\">Reuters<\/a>. It can have a role in decarbonization by slashing harmful emissions from traditional combustion engines, according to <a href=\"https:\/\/www.engie.com\/en\/news\/e-fuels-what-are-they\">French power group Engie<\/a>.<\/p>\n<hr class=\"grey-line\">\n<p><a class=\"content-anchor\" id=\"tldr-story-07\"><\/a><strong> Researchers from the Swiss Federal Institute WSL are studying Alpine and Arctic <\/strong><strong>microbes that have been observed to digest plastic materials at low temperatures<\/strong>, <a href=\"https:\/\/www.theguardian.com\/science\/2023\/may\/10\/microbes-digest-plastics-low-temperatures-recycling\">The Guardian<\/a> writes, referencing <a href=\"https:\/\/www.frontiersin.org\/articles\/10.3389\/fmicb.2023.1178474\/full\">research<\/a> published in Frontiers in Microbial Biology. The microbes \u2014 which can dissolve plastic at temperatures as low as 15\u00b0C \u2014 offer the first potential alternative to microbial counterparts that can digest plastic only at above 30\u00b0C. The new discovery could pave the way for companies to dispose of their plastic waste without costly and carbon-intensive heating processes.<\/p>\n<p><strong>A breakthrough in microbial recycling: <\/strong>The Swiss-based scientists buried plastics in parts of Greenland, Svalbard, and Switzerland for a year while simultaneously growing 19 different bacterial groups and 15 fungi species in single-strain cultures in dark, laboratory settings at 15\u00b0C to see how the organisms would react with the materials. They found that while none of the groups were able to digest non-biodegradable polyethylene even after a prolonged, 126-day incubation stretch, two fungal species were capable of digesting all the other plastics thrown at them. 56% of all the studied groups were capable of dissolving polyester-polyurethane in the lab setting at 15\u00b0C, and a total of 14 fungi strains and three bacteria families proved effective in eating up polybutylene adipate terephthalate and polylactic acid mixtures.<\/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 class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/climate-in-the-news\/\">CLIMATE IN THE NEWS<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/e-fuels\/\">e-fuels<\/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\/ferrari\/\">Ferrari<\/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\/switzerland\/\">Switzerland<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/waste-management\/\">waste management<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"77382\" 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=\"77382\">\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\">ALSO ON OUR RADAR<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/climate\/2023\/05\/11\/honeywell-reveals-new-tech-for-saf-production-and-toyota-is-shopping-for-green-hydrogen-projects-in-the-region\/\">\r\n                            Honeywell reveals new tech for SAF production and Toyota is shopping for green hydrogen projects in the region                        <\/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\/11\/honeywell-reveals-new-tech-for-saf-production-and-toyota-is-shopping-for-green-hydrogen-projects-in-the-region\/\" 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 new technology will combine green hydrogen and carbon dioxide captured from industrial smokestacks to produce lower-carbon methanol, which can be turned into fuels, including sustainable aviation fuel (SAF). The new technology could help slash greenhouse gas emissions by 88% in comparison with conventional jet fuel, Honeywell said.<\/p>\n<p><strong>Customers are already lining up:<\/strong> Energy producer HIF global signed a commercial agreement for the production of eSAF, becoming the first customer to seek the new technology, according to the statement. It expects to deploy the technology at its second commercial-scale eFuels facility in the US which would recycle c. 2 mn tons of captured CO2 to produce c.11k barrels per day of eSAF by 2030.<\/p>\n<p><strong>REMEMBER- This is a perfect timing for this kind of tech:<\/strong> The EU <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/73bdc340-7f9c-4518-b78d-3f4344260307\">agreed last month<\/a> to set binding targets for the European aviation industry to boost its use of SAF in a bid to decarbonize the industry. The proposal aims to increase the use of SAF by ensuring fuel suppliers have 2% of the fuel accessible at EU airports as SAF in 2025, rising to 6% in 2030, 20% in 2035 and 70% in 2050. The EU carbon market is set to provide about EUR 2 bn to help airlines switch to SAF. Some 1.2% of fuels must also be synthetic fuels from 2030, rising to 35% in 2050. Aviation is a difficult sector to decarbonize and net zero aircrafts are not expected for another 10 years.<\/p>\n<hr class=\"grey-line\">\n<p><strong>Toyota Tshusho on the lookout for green hydrogen potential in the region: <\/strong>Japan\u2019s Toyota Tsusho Corp plans to discuss the possibility of investing in green hydrogen in MENA and Africa with the African Development Bank (AfDB), according to a <a href=\"https:\/\/www.afdb.org\/en\/news-and-events\/japanese-investors-say-they-want-more-business-africa-60968\">statement<\/a>. Executive VP Toshimitsu Imai said that his company is conducting studies for possible projects in South Africa, Kenya, and Egypt. Imai made the statements during a visit by an AfDB delegation to Japan to present investment opportunities in Africa.<\/p>\n<p><strong>OTHER STORIES WORTH KNOWING ABOUT THIS MORNING-<\/strong><\/p>\n<ul>\n<li>British renewables developer <strong>Octopus Energy Group <\/strong>will manage <strong>Masdar\u2019s <\/strong><strong>UK-based BESS facilities <\/strong>using its <strong><a href=\"https:\/\/octopusenergy.group\/kraken-technologies#:~:text=Kraken%20is%20our%20revolutionary%20energy,simple%20processes%20and%20straightforward%20interactions.\">Kraken<\/a><\/strong> <strong>energy technology platform<\/strong>. (<a href=\"https:\/\/www.thenationalnews.com\/business\/energy\/2023\/05\/10\/masdar-and-octopus-energy-sign-new-deal-to-manage-battery-storage-in-uk\/\">The National<\/a>)<\/li>\n<li><strong>Emirates Development Bank <\/strong>will add <strong>renewables<\/strong> to the sectors covered in its <strong>five-year plan to fund SMEs and large companies<\/strong>. (<a href=\"https:\/\/www.zawya.com\/en\/projects\/utilities\/emirates-development-bank-prioritises-funding-for-renewable-projects-in-uae-egmq8p07\">Zawya<\/a>)<\/li>\n<li><strong><a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/15e81da8-63fa-45ef-ad7c-23b490c49230\">PIF-backed<\/a><\/strong><strong>EV maker Lucid Group<\/strong> has revised its <strong>annual production plan<\/strong> and will manufacture <strong>\u201cover 1k\u201d of its luxury EV sedans<\/strong>, down from a previous production plan forecast of up to 14k. (<a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-05-08\/lucid-sees-ev-production-at-low-end-of-target-for-the-full-year\">Bloomberg<\/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\/africa\/\">Africa<\/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\/egypt\/\">Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/evs\/\">EVs<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/green-hydrogen\/\">green hydrogen<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/lucid-motors\/\">Lucid Motors<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/masdar\/\">Masdar<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/sustainable-aviation-fuels\/\">sustainable aviation fuels<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/uk\/\">UK<\/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=\"77384\" 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=\"77384\">\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\">ON YOUR WAY OUT<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/climate\/2023\/05\/11\/the-future-of-food-china-is-paving-the-way-for-gene-edited-food\/\">\r\n                            The future of food: China is paving the way for gene-edited food                        <\/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\/11\/the-future-of-food-china-is-paving-the-way-for-gene-edited-food\/\" 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\/11\/the-future-of-food-china-is-paving-the-way-for-gene-edited-food\/')\">\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\/11\/the-future-of-food-china-is-paving-the-way-for-gene-edited-food\/\">\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=The future of food: China is paving the way for gene-edited food&url=https:\/\/enterpriseam.com\/climate\/2023\/05\/11\/the-future-of-food-china-is-paving-the-way-for-gene-edited-food\/\">\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\/11\/the-future-of-food-china-is-paving-the-way-for-gene-edited-food\/&title=The future of food: China is paving the way for gene-edited food\">\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=The+future+of+food%3A+China+is+paving+the+way+for+gene-edited+food+https%3A%2F%2Fenterpriseam.com%2Fclimate%2F2023%2F05%2F11%2Fthe-future-of-food-china-is-paving-the-way-for-gene-edited-food%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\/11\/the-future-of-food-china-is-paving-the-way-for-gene-edited-food\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/5\/1861.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"77385\" data-permalink=\"https:\/\/enterpriseam.com\/climate\/2023\/05\/11\/the-future-of-food-china-is-paving-the-way-for-gene-edited-food\/1861-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/5\/1861.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1861.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/5\/1861.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/5\/1861.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-77384\" class=\"content-area-description single-story post-77384 post type-post status-publish format-standard has-post-thumbnail hentry category-on-your-way-out tag-china tag-enterpriseclimate tag-food-security tag-on-your-way-out wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-08\"><\/a> <strong>China has deemed a gene-edited soybean safe to consume marking the first time <\/strong><strong>the country has approved the new technology in a crop<\/strong>, <a href=\"https:\/\/www.reuters.com\/science\/china-approves-safety-first-gene-edited-crop-2023-05-04\/\">Reuters<\/a> reported. The high oleic soybean \u2014 developed by private company Shandong Shunfeng Biotechnology \u2014 has been given a five-year safety certificate from the country\u2019s Agriculture and Rural Affairs Ministry in late April. Despite the approval of the new soybean, farmers in the country will still need approval to use the seed varieties with the altered genes.<\/p>\n<p><strong>Gene-editing what? <\/strong>Gene editing is a new technique that allows for altering existing genomes without introducing foreign genes into a plant \u2014 unlike genetic modification, according to a Food and Agriculture Organization (FAO) <a href=\"https:\/\/www.fao.org\/3\/cc3579en\/cc3579en.pdf\">report (pdf)<\/a>. The technology has the potential to improve food security, nutrition, and environmental sustainability, yet issues of safety must be assessed, FAO said. \u201cThe environment, biodiversity and human health could be negatively influenced by release of gene-edited products and therefore regulation must be enacted,\u201d it added.<\/p>\n<p><strong>Expect more from the Chinese: <\/strong>Shandong Shunfeng is currently researching some 20 other gene-edited crops, including a higher yield rice, wheat and corn, herbicide-resistant rice, and soybeans, the newswire said, citing a company representative.<\/p>\n<p><strong>Not the first:<\/strong> The US approved its first gene-edited food in 2019 after it gave the green light to a high oleic soybean developed by US-based company Calyxt, according to Reuters. Japan has also approved several of the altered foods, including healthier tomatoes and fish whose genomes have been edited to increase the speed of growth. Revised legislation in England has paved the way for the commercial development of gene-edited foods, the <a href=\"https:\/\/www.bbc.com\/news\/science-environment-64596453\">BBC<\/a> reported in March. More recently, Canada\u2019s Agriculture and Agri-food Minister Marie-Claude Bibeau said the Canadian Food Inspection Agency would allow modified plants under new seed guidelines, <a href=\"https:\/\/www.cbc.ca\/news\/canada\/gene-edited-foods-fears-1.6836623\">CBC<\/a> reported earlier this month.<\/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\/food-security\/\">food security<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/on-your-way-out\/\">ON YOUR WAY OUT<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"77386\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"calendar\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/climate\/2023\/05\/11\/77386\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-77386\" class=\"content-area-description single-story post-77386 post type-post status-publish format-standard hentry category-calendar wpautop entry\">\n\n\t\t\t<hr class=\"wp-block-separator has-text-color has-primary-color has-alpha-channel-opacity has-primary-background-color has-background is-style-wide\">\n\n\t\t<h2 class=\"wp-block-heading mt-0 has-primary-color has-text-color has-link-color has-normal-font-size\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\">\n\t\t\t<strong> CALENDAR<\/strong>\n\t\t<\/h2>\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>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>25-27 May (Thursday-Saturday): <a href=\"https:\/\/unfccc.int\/sites\/default\/files\/resource\/Notification_LD_TC2_NGO_observers.pdf\">Second meeting of the COP27 Transitional Committee<\/a>, Bonn, Germany.<\/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>, Lusail City, 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":77367,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-77366","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"e14a571f-7386-4ef7-8264-8f34827877c3","teaser":"","photo_url":"https:\/\/ent.news\/2022\/9\/5740.jpg"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Acwa Power, Alcazar Energy, and Infinity reportedly eyeing stakes in Egypt\u2019s wind farms - 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\/acwa-power-alcazar-energy-and-infinity-reportedly-eyeing-stakes-in-egypts-wind-farms\/\" \/>\n<meta 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