{"id":77569,"date":"2023-05-23T01:05:16","date_gmt":"2023-05-23T01:05:16","guid":{"rendered":"https:\/\/enterpriseam.com\/climate\/?post_type=issue&#038;p=77569"},"modified":"2025-12-15T08:59:01","modified_gmt":"2025-12-15T08:59:01","slug":"neom-achieves-financial-close-for-usd-8-4-bn-hydrogen-project","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/climate\/issues\/neom-achieves-financial-close-for-usd-8-4-bn-hydrogen-project\/","title":{"rendered":"Neom achieves financial close for USD 8.4 bn hydrogen project"},"content":{"rendered":"<section id=\"77571\" 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=\"77571\">\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\/23\/today-neom-achieves-financial-close-for-usd-8-4-bn-green-hydrogen-project\/\">\r\n                            TODAY: Neom achieves financial close for USD 8.4 bn green hydrogen 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 href=\"https:\/\/enterpriseam.com\/climate\/2023\/05\/23\/today-neom-achieves-financial-close-for-usd-8-4-bn-green-hydrogen-project\/\" 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class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/5\/1900.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"77572\" data-permalink=\"https:\/\/enterpriseam.com\/climate\/2023\/05\/23\/today-neom-achieves-financial-close-for-usd-8-4-bn-green-hydrogen-project\/1900-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/5\/1900.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1900.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/5\/1900.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/5\/1900.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-77571\" class=\"content-area-description single-story post-77571 post type-post status-publish format-standard has-post-thumbnail hentry category-what-were-tracking-today tag-enterpriseclimate tag-gcc tag-qatar tag-renewables tag-saudi-arabia tag-uae tag-uk tag-what-were-tracking-today wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Good morning, wonderful people. <\/strong>After the deluge of news yesterday, we have a brisk read for you this morning with some key updates on projects happening in the region.<\/p>\n<p><strong>THE BIG CLIMATE STORY-<\/strong> KSA\u2019s Neom Green Hydrogen Company has achieved financial close with 23 local, regional and international banks and financial institutions for its USD 8.4 bn green hydrogen facility.<\/p>\n<p><strong>^^ <\/strong><strong>We have the details on this story and more in the news well, below.<\/strong><\/p>\n<p><strong>HAPPENING TODAY- <\/strong><strong><a href=\"https:\/\/www.world-energy-storage.com\/\">The Energy Storage Forum<\/a><\/strong><strong> is kicking off today in Dubai and <\/strong><strong>will run until Thursday.<\/strong> The theme for this year's forum is \u201cthe current transition towards clean energy sources in the GCC countries leading up to COP28,\u201d and will see discussions on trends, policies, and technologies related to renewable energy, hydrogen, and battery storage, <a href=\"https:\/\/wam.ae\/ar\/details\/1395303160273\">Wam<\/a>reports. The event will bring together regional industry leaders and researchers as well as officials from the GCC\u2019s electricity and water authorities.<\/p>\n<p><strong>THE BIG CLIMATE STORY OUTSIDE THE REGION- Seven US states reach historic consensus on water<\/strong><strong> cuts to prevent the Colorado River from drying up: <\/strong>US states Arizona, Nevada, and California \u2014 all of which source water supplies from the drought-stricken Colorado River \u2014 have reached a landmark agreement with the Biden Administration to voluntarily push down their water consumption from the lower Colorado Basin in exchange for USD 1.2 bn in federal funding. The agreement will see the states slash water consumption by 13% \u2014 some 3.7 bn cubic meters \u2014 through to 2026. Colorado, Utah, New Mexico, and Wyoming, which also rely on the waterway, agreed to the plan. The agreement, which comes after <a href=\"https:\/\/www.cnbc.com\/2023\/01\/31\/colorado-river-shortage-states-miss-deadline-for-deal-on-water-cuts.html\">months of negotiations<\/a> to secure the water reservoirs of the river on which 40 mn people are dependant, will temporarily stave off the prospect of the Biden Administration imposing unilateral cuts for Wyoming, Colorado, Utah, New Mexico, California, Nevada, and Arizona after the river\u2019s two main reservoirs \u2014 Lakes Mead and Powell \u2014 dropped to alarming lows last summer.<\/p>\n<p><strong>The story got widespread coverage in the international press yesterday: <\/strong><a href=\"https:\/\/www.washingtonpost.com\/climate-environment\/2023\/05\/22\/colorado-river-water-conservation-deal-states\/\">Washington Post<\/a> | <a href=\"https:\/\/www.reuters.com\/world\/us\/us-states-reach-colorado-river-water-conservation-deal-interior-dept-2023-05-22\/\">Reuters<\/a> | <a href=\"https:\/\/apnews.com\/article\/colorado-river-arizona-california-nevada-drought-climate-change-85bfbc63bfc6590613bb142347e1a014\">Associated Press<\/a> | <a href=\"https:\/\/edition.cnn.com\/2023\/05\/22\/us\/colorado-river-lake-mead-water-deal-climate\/index.html\">CNN<\/a> | <a href=\"https:\/\/www.cnbc.com\/2023\/05\/22\/states-strike-deal-with-biden-to-conserve-colorado-river-water.html\">CNBC<\/a> | <a href=\"https:\/\/www.theguardian.com\/us-news\/2023\/may\/22\/colorado-river-states-california-arizona-nevada\">The Guardian<\/a> | <a href=\"https:\/\/www.france24.com\/en\/live-news\/20230522-us-states-reach-agreement-to-save-dwindling-colorado-river\">France 24<\/a>.<\/p>\n<hr class=\"grey-line\">\n<p><a class=\"content-anchor\" id=\"tldr-story-05\"><\/a><strong> WATCH THIS SPACE #1- UK + GCC to continue talks on potential trade agreement that <\/strong><strong>includes renewables: <\/strong>The UK\u2019s Secretary of State for Business and Trade Kemi Badenoch will be in Qatar, Saudi Arabia, and the UAE this week as part of a five-day tour where she will discuss a potential trade agreement with the Gulf Cooperation Council (GCC) countries, <a href=\"https:\/\/www.reuters.com\/world\/uk\/uk-business-minister-visit-qatar-saudi-arabia-uae-2023-05-21\/#:~:text=LONDON%2C%20May%2022%20(Reuters),Gulf%20Cooperation%20Council%20(GCC).\">Reuters<\/a> reported. \u201cThe GCC represents an enormous opportunity for UK firms, whether it's selling brilliant British food and drink products into new markets or offering new consumers for our flourishing digital trade and renewable energy sectors,\u201d Badenoch said before her visit. This will be the fourth round of negotiations on the trade agreement between the UK and the GCC, which kicked off last year.<\/p>\n<p><strong>REMEMBER- The UK has some partnerships with the GCC:<\/strong> Oman\u2019s state-owned green hydrogen company Hydrom <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/40455595-d905-4d49-a583-ee97e18a20cb\">signed binding term sheet agreements<\/a> with companies from the UK. Fotowatio Renewable Ventures (FRV) \u2014 a subsidiary of Saudi solar PV developer Abdul Latif Jameel Energy and Environmental Services \u2014 <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/cc67f739-8099-4eba-8686-823bbbe4e15b\">opened its first office in the UK<\/a> in March. Emirati waste management company Bee\u2019ah <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/af58a867-d2f3-47ae-8b23-33d497c311c6\">signed an MoU<\/a> with UK-based waste-to-energy focused tech company Chinook Sciences in January, and Masdar <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/92b788af-2a3c-42ae-af76-0c5c72603973\">acquired<\/a> UK-based battery energy storage system (BESS) outfit Arlington Energy last October.<\/p>\n<hr class=\"grey-line\">\n<p><a class=\"content-anchor\" id=\"tldr-story-06\"><\/a><strong> WATCH THIS SPACE #2- France\u2019s Alstom to roll out hydrogen-powered train in <\/strong><strong>KSA: <\/strong>French rail giant Alstom is looking to bring its hydrogen-powered <a href=\"https:\/\/www.alstom.com\/solutions\/rolling-stock\/alstom-coradia-ilint-worlds-1st-hydrogen-powered-train\">Coradia iLint<\/a> train to Saudi Arabia before the end of 2023, the company\u2019s Managing Director for the GCC Tamer Salama told <a href=\"https:\/\/www.zawya.com\/en\/projects\/industry\/alstom-plans-to-trial-hydrogen-train-in-saudi-arabia-this-year-top-official-pvilpk9a\">Zawya<\/a>. The financials and timeline for the train\u2019s debut have not been disclosed. The increase in hydrogen projects in the region could also see the company deploy more of its hydrogen trains in neighboring countries, Salama added. \u201cThere is a green hydrogen project underway in the UAE and another in <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/5b25cd90-e450-47ee-b0a9-3f382940309e\">Neom<\/a>. <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/15a2e8a8-2e2f-4a1e-bb19-594d74055fd8\">Oman<\/a> and <a href=\"https:\/\/enterprise.press\/stories\/2022\/11\/02\/qatar-is-eyeing-a-usd-1-bn-green-hydrogen-and-ammonia-project-85891\/\">Qatar<\/a> are also exploring hydrogen projects, so it will likely be available in most countries very soon,\u201d he said. The Coradia can cover upwards of 1k kilometers without refueling, <a href=\"https:\/\/www.alstom.com\/press-releases-news\/2023\/2\/alstoms-coradia-ilint-worlds-first-hydrogen-powered-passenger-train-will-demonstrate-green-traction-quebec#:~:text=The%20train%20is%20powered%20by,of%201%2C175%20kilometres%20without%20refuelling.\">Alstom<\/a> notes. Given the train\u2019s commercial success in Germany since its introduction in 2018, Alstom will kick off operations for its hydrogen trains in Italy, France, and Denmark soon, Salama says.<\/p>\n<p><strong>WATCH THIS SPACE #3-<\/strong> <strong>EU Parliament puts the brakes on renewables vote:<\/strong> EU policymakers have decided to postpone a <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/08ac669b-a6b8-4808-8120-c184c3e0525c\">vote<\/a> on raising the share of renewables in the EU\u2019s energy mix from the current 32% to 42.5% by 2030 to June, <a href=\"https:\/\/www.reuters.com\/world\/europe\/eu-parliament-delays-renewable-energy-vote-after-late-backlash-2023-05-22\/\">Reuters<\/a> reports, citing an internal email. The final vote was set to take place in July, but could now be pushed to September. The vote delay comes after objections from France over the law discriminating against hydrogen produced from nuclear energy. If signed, the agreement will leave room for EU member states to expand their individual renewables capacity to 45%.<\/p>\n<p><strong>REMEMBER-<\/strong> The 27 EU members signed the provisional agreement in <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/d996165d-0386-422f-822a-681f3246d700\">April<\/a>, which also includes a breakdown of the targets for different sectors, such as 29% renewables for the transport sector and 42% for the industrial sector by 2030.<\/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>CIRCLE YOUR CALENDAR- <\/strong><\/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 Thursday, 25 May to Saturday, 27 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 Monday, 29 May to Wednesday, 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 Monday, 29 May to Thursday, 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><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\/gcc\/\">GCC<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" 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class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"77575\" data-permalink=\"https:\/\/enterpriseam.com\/climate\/2023\/05\/23\/neom-achieves-financial-close-for-usd-8-4-bn-green-hydrogen-project\/1901-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/5\/1901.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1901.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/5\/1901.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/5\/1901.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-77574\" class=\"content-area-description single-story post-77574 post type-post status-publish format-standard has-post-thumbnail hentry category-investment-watch tag-enterpriseclimate tag-green-hydrogen tag-investment-watch tag-neom tag-saudi-arabia wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-01\"><\/a> <strong>Neom achieves financial close on mega hydrogen plant:<\/strong> KSA\u2019s Neom Green Hydrogen Company (NGHC) has <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/5b25cd90-e450-47ee-b0a9-3f382940309e\">achieved financial close<\/a> with 23 local, regional, and international banks and financial institutions for its USD 8.4 bn green hydrogen facility, according to a <a href=\"https:\/\/www.neom.com\/en-us\/newsroom\/neom-green-hydrogen-investment\">statement<\/a>. The ambitious project \u2014 said to be the world\u2019s largest green hydrogen production facility \u2014 will see some USD 6.1 bn provided in non-recourse financing by the banks and investment firms, it said. NGHC is a joint venture between Neom, Acwa Power, and US-based gas supplier Air Products.<\/p>\n<p><strong>Where the money is coming from:<\/strong> The statement did not provide a breakdown of the consortium of financiers, but an earlier statement released by Neom <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/5b25cd90-e450-47ee-b0a9-3f382940309e\">in March<\/a> said they included First Abu Dhabi Bank, HSBC, Standard Chartered Bank, BNP Paribas, Abu Dhabi Commercial Bank, Saudi National Bank, KFW, JP Morgan, Korea Development Bank, and Credit Agricole.<\/p>\n<p><strong>And that\u2019s not all:<\/strong> NGHC also concluded a USD 6.7 bn agreement with Air Products for the facility's engineering, procurement and construction (EPC), the statement notes. It also secured an exclusive 30-year off-take agreement with the US-based gas supplier for all the green ammonia produced at the plant.<\/p>\n<p><strong>What we know:<\/strong> The mega plant \u2014 located at its floating industrial complex Oxagon \u2014 will produce up to 600 tons per day of no-carbon hydrogen in the form of green ammonia by the end of 2026, the statement said. It will have the capacity to <a href=\"https:\/\/www.nghc.com\/nghc-facility-agreements\/\">produce 1.2 mn tons of green<\/a> ammonia annually. The facility will source its power needs from up to 4 GW of solar and wind energy.<\/p>\n<p><strong>Quite a location:<\/strong> Neom <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/b23947af-dcbc-49af-b3bd-4c8dc57e633d\">formally launched Oxagon<\/a> as its integrated net-zero port and logistics hub powered entirely by clean energy. It is set to be home to several industries powered fully by renewables, including sustainable energy, autonomous mobility, water innovation, sustainable food production, health and well-being, technology, and digital manufacturing.<\/p>\n<p><strong>It\u2019s been an eventful month: <\/strong>Neom <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/b23947af-dcbc-49af-b3bd-4c8dc57e633d\">awarded a USD 2 bn contract<\/a>for a rail project linking Oxagon to renewable energy-powered The Line city earlier this month. The rail project was awarded to a joint venture of Italy's largest construction company Webuild and Saudi-based leading contractor Shibh Al-Jazira Contracting (Sajco).<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/green-hydrogen\/\">green hydrogen<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/investment-watch\/\">INVESTMENT WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/neom\/\">Neom<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/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=\"77576\" 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=\"77576\">\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 FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/climate\/2023\/05\/23\/us-uae-japan-and-south-korea-extend-funding-for-romanian-nuclear-plant\/\">\r\n                            US, UAE, Japan, and South Korea extend funding for Romanian nuclear plant                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/climate\/2023\/05\/23\/us-uae-japan-and-south-korea-extend-funding-for-romanian-nuclear-plant\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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Exim issued a letter of intent to provide USD 99 mn for the small modular reactor (SMR) facility in a bid to accelerate the country\u2019s transition to clean energy and enhance Europe\u2019s energy security, the statement notes. The specific investments the UAE, Japan, and South Korea will be earmarking for the SMR plant were not provided, and it is unclear whether the funds are a loan or grant.<\/p>\n<p><strong>The details: <\/strong>The RoPower plant will entail 6 SMRs producing a total of 462 MW, according to <a href=\"https:\/\/www.nuclearelectrica.ro\/2022\/09\/27\/nuclearelectrica-sa-and-nova-power-gas-srl-launch-ropower-nuclear-sa-the-project-company-for-the-development-of-small-modular-reactors-in-romania\/?lang=en\">Nuclearelectrica<\/a>. The project \u2014 expected to come online sometime \u201cthis decade,\u201d according to the company \u2014 will offset some 4 mn tons of CO2 equivalent annually once operational. The facility is jointly owned by Romania\u2019s Nuclearelectrica SA and Nova Power & Gas SRL and will use US nuclear energy technologies firm <a href=\"https:\/\/www.nuscalepower.com\/en\/products\">NuScale Power\u2019s VOYGR-6 tech<\/a> and US-based engineering firm\u2019s Fluor Corporation\u2019s construction and engineering services. NuScale VOYGR-6 \u2014 <a href=\"https:\/\/www.energy.gov\/ne\/articles\/nrc-certifies-first-us-small-modular-reactor-design\">the first SMR design certified<\/a> by the US government \u2014 is a pressurized water reactor enabling the production of up to 77 MW of clean electricity per SMR.<\/p>\n<p><strong>Where\u2019s the money going? <\/strong>The US funds will be channeled toward securing long lead materials for the plant, completion of the front-end and engineering design (FEED) phase of the project \u2014 which follows the completion of conceptual design studies to determine the feasibility of the project and a rough investment ticket for the venture, and provide provision of project experts to accelerate the plant\u2019s launch.<\/p>\n<p><strong>More funding for RoPower in the pipeline:<\/strong> Exim and the US International Development Finance Corporation also issued a letter of interest for potential support to the tune of USD 1 bn and USD 3 bn for project deployment, the statement notes.<\/p>\n<p><strong>The UAE has been showing interest in Romania\u2019s renewables sector:<\/strong> Back in March, state-owned Emirates Nuclear Energy Corporation (ENEC) <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/606014b5-eb0c-47e5-8d3a-8446eaf50037\">signed an agreement<\/a> with Nuclearelectrica to collaborate on nuclear energy program development in the two countries, as well as in Central and Eastern Europe. Later that month, UAE renewables firm Masdar finalized a <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/3ea00e9d-a582-4407-b935-921f599dc5ef\">binding joint cooperation agreement<\/a> with Romanian state-owned utilities firm Hidroelectrica to deploy offshore wind energy and floating solar energy projects totalling 2 GW in the country. The agreement was signed by UAE Vice President and Prime Minister Mohammed bin Rashid Al Maktoum and Romania\u2019s President Klaus Iohannis during a high-level bilateral meeting that saw both sides discuss bilateral cooperation in the renewables sector.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/exim\/\">Exim<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/green-finance\/\">green finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/japan\/\">Japan<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n     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-->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"77578\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                            \"\r\n            id=\"77578\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/climate\/2023\/05\/23\/77578\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-77578\" class=\"content-area-description single-story post-77578 post type-post status-publish format-standard hentry wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p class='web-image'><a href='https:\/\/weareiph.com\/'><img decoding=\"async\" data-recalc-dims=\"1\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/5\/1828.jpg?ssl=1\" alt='enterprise'><\/a><\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"77579\" 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=\"77579\">\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\">GREEN STEEL<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/climate\/2023\/05\/23\/brazils-vale-finalizes-energy-supply-agreements-and-land-allocation-for-green-steel-hub-in-oman\/\">\r\n                            Brazil\u2019s Vale finalizes energy supply agreements and land allocation for green steel hub in Oman                        <\/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\/23\/brazils-vale-finalizes-energy-supply-agreements-and-land-allocation-for-green-steel-hub-in-oman\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img 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href=\"https:\/\/enterpriseam.com\/climate\/2023\/05\/23\/brazils-vale-finalizes-energy-supply-agreements-and-land-allocation-for-green-steel-hub-in-oman\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/5\/1902.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"77580\" data-permalink=\"https:\/\/enterpriseam.com\/climate\/2023\/05\/23\/brazils-vale-finalizes-energy-supply-agreements-and-land-allocation-for-green-steel-hub-in-oman\/1902-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/5\/1902.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1902.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/5\/1902.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/5\/1902.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-77579\" class=\"content-area-description single-story post-77579 post type-post status-publish format-standard has-post-thumbnail hentry category-green-steel tag-brazil tag-enterpriseclimate tag-green-steel tag-oman tag-renewables wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-03\"><\/a> <strong>Vale secures land and suppliers for green steel hub in Oman:<\/strong> Brazilian mining firm Vale finalized a land reservation agreement with the Port of Duqm Company for three production plants that will source materials essential to Oman\u2019s low-carbon steel making industry, <a href=\"https:\/\/timesofoman.com\/article\/131167-vale-signs-agreement-to-establish-integrated-industrial-\">The Times of Oman<\/a> reports. Vale also signed a separate non-binding agreement with Oman\u2019s Marafiq to provide energy and utility services for the green steel production hub, which will be built in the Special Economic Zone at Duqm. The financials and a timeline on the integral industrial complex\u2019s launch date were not disclosed<\/p>\n<p><strong>What we know: <\/strong>The land Vale has secured -\u2013 spanning some 6.7 sqkm in Duqm \u2014 will be used to set up three production facilities aimed at securing materials critical to low-carbon steel production including hot briquette iron (HBI) \u2014 which is 60% less carbon-intensive than conventional materials when produced using nagas according to <a href=\"https:\/\/vale.com\/ja\/w\/vale-signs-agreements-to-develop-mega-hubs-in-the-middle-east-and-provide-decarbonization-solutions-for-steelmaking-1\">Vale<\/a>, and <a href=\"https:\/\/www.spglobal.com\/commodityinsights\/en\/market-insights\/blogs\/metals\/062222-dri-steel-decarbonization-direct-reduced-iron\">direct reduced iron<\/a>, the <a href=\"https:\/\/twitter.com\/OmanNewsAgency\/status\/1660581825436082176\">Oman News Agency<\/a> noted yesterday. Manufacturing HBI using green hydrogen could bring down emissions to zero, according to research by <a href=\"https:\/\/www.spglobal.com\/commodityinsights\/en\/market-insights\/blogs\/metals\/062222-dri-steel-decarbonization-direct-reduced-iron\">S&P Global<\/a>. The raw materials produced in Oman will be also available for export to international markets, according to Times of Oman.<\/p>\n<p><strong>Will renewable energy be involved?<\/strong> Utility provider <a href=\"https:\/\/marafiq.om\/\">Marafiq<\/a> \u2014 a joint venture between Oman\u2019s OQ and Thailand\u2019s Gulf Energy Development \u2014 will supply the project\u2019s power needs as well as utility services \u201cwhile promoting the use of clean energy and green hydrogen at the port of Duqm,\u201d according to the news outlet.<\/p>\n<p><strong>Vale has been making moves in Oman: <\/strong>The company signed an agreement <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/ef0f152c-3d58-4fe6-b01b-67720b85b654\">in February<\/a> to repurchase its 30% stake in Vale Oman from Omani state-owned energy investment company OQ. Vale Oman owns and manages an iron ore pelletizing facility with an annual 9 mn ton iron ore pellet production capacity.<\/p>\n<p><strong>And has plans for the UAE and KSA: <\/strong>Vale <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/dacda7ad-b77b-4be5-9188-3528526b684a\">signed an MoU<\/a> with Saudi Arabia\u2019s National Industrial Development Center back in November to study establishing a USD 1.1 bn iron ore pellet mega hub producing some 4 mn tons of iron ore pellets annually in KSA\u2019s Ras Al-Khair industrial zone, and <a href=\"https:\/\/vale.com\/w\/vale-signs-agreements-to-develop-mega-hubs-in-the-middle-east-and-provide-decarbonization-solutions-for-steelmaking-1\">said<\/a> it and the UAE\u2019s Emirates Steel Arkan are working a study exploring the feasibility of establishing an iron ore pellet mega hub in Abu Dhabi\u2019s Khalifa Industrial Zone last October.<\/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\/brazil\/\">Brazil<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/green-steel\/\">GREEN STEEL<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/oman\/\">Oman<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/renewables\/\">renewables<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"77581\" 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=\"77581\">\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\/23\/maadens-1q-2023s-net-income-plunges-the-back-of-lower-commodity-prices-surging-raw-materials\/\">\r\n                            Ma\u2019aden\u2019s 1Q 2023\u2019s net income plunges the back of lower commodity prices, surging raw materials                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div 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decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/5\/1904.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"77582\" data-permalink=\"https:\/\/enterpriseam.com\/climate\/2023\/05\/23\/maadens-1q-2023s-net-income-plunges-the-back-of-lower-commodity-prices-surging-raw-materials\/1904-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/5\/1904.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1904.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/5\/1904.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/5\/1904.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-77581\" class=\"content-area-description single-story post-77581 post type-post status-publish format-standard has-post-thumbnail hentry category-earnings-watch tag-earnings-watch tag-enterpriseclimate tag-gold tag-ivanhoe-electric tag-minerals tag-saudi-mining-company wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-04\"><\/a><strong> A 1Q to forget for Ma\u2019aden: <\/strong>Saudi mining company Ma\u2019aden saw its net income plunge 81% y-o-y in 1Q 2023 to SAR 419.4 mn on the back of higher costs for raw materials and lower commodity prices, according to a <a href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/!ut\/p\/z1\/lY_dboJAEIWfxQcwO2hc6OW2tEiDCuIvN2ZdpkoiLFkWW_v0BbFttLWxm72YOfnmzBkSkQWJMr5PNlwnMuO7ql9GdNVjFDp9C0bQnzwAhdCh04ll2B1K5ueANXAoBEMWjDpmD5wZkOhf8xD6PQie_EHXgzE4QG-bhyuP3bA_OkdG7M6sEjzfO67HuhY1L4FfTrxY8vOGI_BHyBCz4yXm1aiuQeYKC1kqgWS8Qc2yTJaZwBQz7SWFtrnmJBBcbNHDPe58vkES1qt5vE8KqYqaIsu2UWsFCi2Vnbvxl3JI13JHlnWdKxmXQk8OOTaClpX9qc4r4zB5rzoDGiuuxLZhjU9gWKZrVPb6JL0omX478Dq6qIOfplZNBI1vOjy6NVxcTfioElmFJHk6nS4gcdvW62M3tc4_a7U-APoSD9Q!\/dz\/d5\/L0lHSklna0tDbEVKSUtJS1VRb2dwUkEhIS9vSHdRQUVNSUFBQ0VFaGdDS000emxHWUVLVWxTVUtXdEcwWVdnQSEhLzRKQ2lqc1lwTWhUalVFNWxFbXQyVXR0TlF6VzdLVzFtbzVBIS9aN181QTYwMkg4ME8wSFRDMDYwU0c2VVQ4MURRNi9aNl81QTYwMkg4ME8wSFRDMDYwU0c2VVQ4MURJMy9jb21wYW55U3ltYm9sLzEyMTEvZ2xvYmFsL2h0dHA6JTAlMHRhZGF3dWwlMC9hbm5DYXQvMS9hbklkLzczODM1\/\">disclosure to Tadawul<\/a>. Its revenues were down 10% y-o-y in the first three months of the year to SAR 8 bn.<\/p>\n<p><strong>Several factors to blame: <\/strong>The fall in the bottomline was fueled by lower average realized sale prices of all products except gold, and cost of sales rising by 28% on the back of a surge in raw material and production operating costs, the disclosure said. Also contributing to the drop in net income was higher general and administrative expenses, exploration and technical service expenses, and higher finance costs due to a rise in SIBOR and LIBOR rates.<\/p>\n<p><strong>But there were offsets: <\/strong>The drop in net income was partially offset by higher sales volumes of all products except mainly primary aluminum and gold, lower selling, marketing and logistics expenses, and a higher income from time deposits on the back of increased investments and deposit rates. Lower non-operating expenses and a lower zakat and income tax expense also helped counterbalance the bottomline during the quarter.<\/p>\n<p><strong>Key highlights during 1Q:<\/strong> Ma\u2019aden <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/3a27dcd0-7191-4573-81d3-a4813962f4ed\">sealed during the quarter<\/a> a 50\/50 JV with US mineral development company Ivanhoe Electric Inc. for the exploration of copper, nickel, gold, silver and other electric metals, according to its <a href=\"https:\/\/ent.news\/2023\/5\/1903.pdf\">earnings release (pdf)<\/a>. Framework and support agreements signed with Shareek and the Saudi Investment Ministry will support the company\u2019s Phosphate 3 project, accelerating its completion and pushing fertilizer sales and exports. Ma\u2019aden also said that its Mansourah-Massarah commissioning activities are still on track with an initial production date of 2H 2023. The gold project located in the central region of the country is set to be Ma'aden's largest gold project to date with an average production of 250k ounces per annum of gold.<\/p>\n<p><strong>A positive outlook: <\/strong>\u201cSupply-demand dynamics are more effectively managed, raw material prices are easing and fertilizers and ammonia prices have normalized and are expected to remain in-range for the remainder of the year,\u201d Ma\u2019aden said. The positive outlook on supply and demand and easing raw material prices with a successful delivery of key projects would allow the company to \u201cenhance operational capacity and enable Ma\u2019aden to maintain FY 23 production and capital expenditure guidance.\u201d<\/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\/gold\/\">gold<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/ivanhoe-electric\/\">Ivanhoe Electric<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/minerals\/\">minerals<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/saudi-mining-company\/\">Saudi mining company<\/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=\"77583\" 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=\"77583\">\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 DIPLOMACY<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/climate\/2023\/05\/23\/the-uae-is-looking-to-partner-with-malaysia-on-renewables\/\">\r\n                            The UAE is looking to partner with Malaysia on renewables                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/climate\/2023\/05\/23\/the-uae-is-looking-to-partner-with-malaysia-on-renewables\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/climate\/2023\/05\/23\/the-uae-is-looking-to-partner-with-malaysia-on-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\/23\/the-uae-is-looking-to-partner-with-malaysia-on-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=The UAE is looking to partner with Malaysia on renewables&url=https:\/\/enterpriseam.com\/climate\/2023\/05\/23\/the-uae-is-looking-to-partner-with-malaysia-on-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\/23\/the-uae-is-looking-to-partner-with-malaysia-on-renewables\/&title=The UAE is looking to partner with Malaysia on 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=The+UAE+is+looking+to+partner+with+Malaysia+on+renewables+https%3A%2F%2Fenterpriseam.com%2Fclimate%2F2023%2F05%2F23%2Fthe-uae-is-looking-to-partner-with-malaysia-on-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\/23\/the-uae-is-looking-to-partner-with-malaysia-on-renewables\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/5\/1905.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"77584\" data-permalink=\"https:\/\/enterpriseam.com\/climate\/2023\/05\/23\/the-uae-is-looking-to-partner-with-malaysia-on-renewables\/1905-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/5\/1905.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1905.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/5\/1905.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/5\/1905.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-77583\" class=\"content-area-description single-story post-77583 post type-post status-publish format-standard has-post-thumbnail hentry category-climate-diplomacy tag-climate-diplomacy tag-enterpriseclimate tag-malaysia tag-renewables tag-uae wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p> <strong>The UAE wants to expand collaboration with Malaysia on clean energy:<\/strong> UAE Prime Minister Khaled bin Mohamed bin Zayed landed in Malaysia on Sunday where he met with counterpart Anwar Ibrahim to discuss exploring partnership opportunities in the clean energy sector, <a href=\"https:\/\/wam.ae\/en\/details\/1395303160852\">Wam<\/a> reports. The two leaders want to expand cooperation in the transportation sector, though Wam doesn\u2019t specify whether the projects would entail a focus on low-carbon and net-zero mobility solutions. Both countries also discussed strengthening trade relations through the establishment of bilateral comprehensive economic partnership agreements (CEPAs), according to the news agency. Malaysia will need to double its clean energy transition investments to between USD 375- 415 bn to realize its <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/19863568-261d-485b-b490-816e98ca50d5\">2050 carbon neutrality<\/a> target.<\/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-diplomacy\/\">CLIMATE DIPLOMACY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/malaysia\/\">Malaysia<\/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=\"77585\" 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=\"77585\">\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\">CLIMATE IN THE NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/climate\/2023\/05\/23\/a-swiss-firm-is-generating-clean-energy-with-the-power-of-gravity\/\">\r\n                            A Swiss firm is generating clean energy with the power of gravity                        <\/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\/23\/a-swiss-firm-is-generating-clean-energy-with-the-power-of-gravity\/\" 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\/23\/a-swiss-firm-is-generating-clean-energy-with-the-power-of-gravity\/')\">\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\/23\/a-swiss-firm-is-generating-clean-energy-with-the-power-of-gravity\/\">\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=A Swiss firm is generating clean energy with the power of gravity&url=https:\/\/enterpriseam.com\/climate\/2023\/05\/23\/a-swiss-firm-is-generating-clean-energy-with-the-power-of-gravity\/\">\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\/23\/a-swiss-firm-is-generating-clean-energy-with-the-power-of-gravity\/&title=A Swiss firm is generating clean energy with the power of gravity\">\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=A+Swiss+firm+is+generating+clean+energy+with+the+power+of+gravity+https%3A%2F%2Fenterpriseam.com%2Fclimate%2F2023%2F05%2F23%2Fa-swiss-firm-is-generating-clean-energy-with-the-power-of-gravity%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\/23\/a-swiss-firm-is-generating-clean-energy-with-the-power-of-gravity\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/5\/1906.jpeg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"77586\" data-permalink=\"https:\/\/enterpriseam.com\/climate\/2023\/05\/23\/a-swiss-firm-is-generating-clean-energy-with-the-power-of-gravity\/1906-jpeg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/5\/1906.jpeg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1906.jpeg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/5\/1906.jpeg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/5\/1906.jpeg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-77585\" class=\"content-area-description single-story post-77585 post type-post status-publish format-standard has-post-thumbnail hentry category-climate-in-the-news tag-bess tag-climate-in-the-news tag-energy-vault tag-enterpriseclimate tag-gravity 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>Gravity could be the new tech for generating electricity:<\/strong> Switzerland-based <a href=\"https:\/\/www.energyvault.com\/\">Energy<\/a><a href=\"https:\/\/www.energyvault.com\/\">Vault Holdings<\/a> is close to completing one of the only systems in the world that generates electricity using gravity, company CEO Robert Piconi told <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-05-17\/energy-vault-nears-finish-for-gravity-storage-project-in-china?srnd=green\">Bloomberg<\/a> last week. <a href=\"https:\/\/www.energyvault.com\/project-cn-rudong\">The project<\/a>, built in China\u2019s Rudong, will be completed by September and will be able to deliver up to 25 MW of power for four hours.<\/p>\n<p><strong>How it works: <\/strong>The technology involves using electric motors to lift and lower composite blocks to store and dispatch electrical energy, according to the startup\u2019s <a href=\"https:\/\/www.energyvault.com\/ldes\">website<\/a>. The potential energy is then converted into electricity for grid-scale applications, allowing for long-duration energy storage.<\/p>\n<p><strong>Why this is important: <\/strong>This form of energy storage could help address a major hurdle facing clean energy transition: Determining a zero-carbon method to keep lights on when winds are calm and the skies are cloudy, <a href=\"https:\/\/www.wired.com\/story\/energy-vault-gravity-storage\/\">Wired<\/a> writes. Advocates of the gravity energy storage technology say it could help provide an alternative to relying on lithium-ion batteries, which eventually degrade over time. Piconi told Wired in January that the technology could help bring in a system that offers cheap, abundant, and long-lasting energy storage.<\/p>\n<hr class=\"grey-line\">\n<p><strong>Big Oil owes at least USD 209 bn in annual climate reparations:<\/strong> 21 of the world\u2019s top fossil fuel firms \u2014 including Saudi oil giant Aramco, BP, Shell, and TotalEnergies \u2014 owe at least USD 209 bn in annual financial restitution to communities harmed by their operations, <a href=\"https:\/\/www.theguardian.com\/environment\/2023\/may\/19\/fossil-fuel-firms-owe-climate-reparations-of-209bn-a-year-says-study\">The Guardian<\/a> writes, referencing a study published in <a href=\"https:\/\/www.cell.com\/one-earth\/fulltext\/S2590-3322(23)00198-7\">One Earth<\/a>. The study says that the USD 209 bn price tag is a \u201cconservative estimate,\u201d as it does not take into account the deaths, loss of livelihood, and biodiversity damage caused by big oil operations. Between 2025-2050, oil and gas operations are expected to cause an additional USD 5.4 tn in climate losses in the form of wildfires, droughts, glacier reductions, and sea level rise.<\/p>\n<p><strong>REMEMBER- Oil giants are <\/strong><strong><a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/92f0d10b-8f32-4fdc-9bd4-98913c05514b\">backtracking<\/a><\/strong><strong> on climate targets, and Shell\u2019s board may be <\/strong><strong>ousted for it: <\/strong>The Church of England has jumped aboard the bandwagon of shareholders in Shell who are <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/f6479cae-8088-4aa8-92dd-8f4d017ec88d\">planning<\/a> a coordinated vote against reappointing Shell Chairman Andrew Mackenzie over \u201csignals\u201d the board would backtrack on climate commitments. The company\u2019s annual general meeting is set to take place <a href=\"https:\/\/www.shell.com\/investors\/shareholder-meetings.html\">today<\/a>. Shell CEO Wael Sawan said in March the company\u2019s 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\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\/bess\/\">BESS<\/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\/energy-vault\/\">Energy Vault<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/gravity\/\">gravity<\/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=\"77587\" 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=\"77587\">\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\">ALSO ON OUR RADAR<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/climate\/2023\/05\/23\/the-uae-is-eyeing-usd-2-bn-of-investment-opportunities-in-south-korea-plus-ksa-is-lining-up-partnerships-in-mining-with-china\/\">\r\n                            The UAE is eyeing USD 2 bn of investment opportunities in South Korea PLUS: KSA is lining up partnerships in mining with China                        <\/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\/23\/the-uae-is-eyeing-usd-2-bn-of-investment-opportunities-in-south-korea-plus-ksa-is-lining-up-partnerships-in-mining-with-china\/\" 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 potential investments come days after a delegation of officials from four UAE-state owned funds visited South Korea last week to explore potential investments in various sectors, including energy and biotechnology. Other fields of interest include communication, agricultural technology, aerospace and \u201cK-Culture,\u201d the ministry was quoted as saying in a joint statement with Korea Development Bank (KDB) and Abu Dhabi state fund Mubadala Investment.<\/p>\n<p><strong>Details are still scant:<\/strong> Both Mubadala and KDB signed a MoU to set up the Korea Sovereign Investment Partnership, which will serve as a mechanism to coordinate the potential investments in the Asian country. The new agreements come months after UAE <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/46b0844f-9354-4350-a963-6d0972cb1062\">pledged in January<\/a> USD 30 bn in South Korea, with hydrogen, solar energy and nuclear power being among the priority areas. The statement did not provide details on which projects and investments are being targeted.<\/p>\n<p><strong>OTHER STORIES WORTH KNOWING ABOUT THIS MORNING-<\/strong><\/p>\n<ul>\n<li><strong>Saudi Arabia\u2019s Mining Minister Bandar Al Khorayef<\/strong> met with <strong>China\u2019s <\/strong><strong>Communist Party Secretary<\/strong> for the <strong>Ningxia region<\/strong> to discuss expanding partnership in the <strong>mining sector<\/strong>. Although China itself is not rich in rare minerals, it still <a href=\"https:\/\/www.nytimes.com\/interactive\/2023\/05\/16\/business\/china-ev-battery.html?unlocked_article_code=owtaBsRk0loYHiTIi4WjaFfkMIkvB0bsZDioAJocnVxEPBQ9R5GRKUsmN1f_aqYhu2_YwXOdQlJoYzRNAHk8Rfgv45iGkDwVr_mlshGmAMa701YyPuoezerUierJ5ypGcON9Dhl4NWEW_NqQkW3B148uovrWqvo24ATTp_PBAwPeAjHPbVhIFl7l3JkraoDPz-5xQSFBDNE-lKAWSTOuJ6Tf__pRcDhwxphR8FSi2MbnoR6CaJ9h9ZmBevWRhpVl9gWSPMN25OhUcDxqbyK1jwwjRNvKCwnNLGhTG5bcU0nNKMQA6Jkxy3ujTl-cKcrWTWtCaXuXB4xtvbcPFBcdWllIYQnaQh6ziIDb&smid=url-share\">controls<\/a> 41% of the world\u2019s cobalt and 28% of its lithium \u2014 the main ingredients for EV batteries \u2014 through the purchase of mines around the world. (<a href=\"https:\/\/www.spa.gov.sa\/en\/48a219483dq\">Saudi Press Agency<\/a>)<\/li>\n<li>The <strong>UAE International Investors Council<\/strong> has signed an <strong>MoU<\/strong> with the <strong>Egyptian-Emirati Business Council<\/strong> to capitalize on potential investments in <strong>green projects and recycling<\/strong>. (<a href=\"https:\/\/wam.ae\/ar\/details\/1395303160267\">Wam<\/a>)<\/li>\n<li><strong>China\u2019s Sungrow<\/strong> is supplying <strong>Saudi Arabia\u2019s 2.66 GW Al Shuaibah solar <\/strong><strong>plant<\/strong> \u2014 to be built, owned, and operated by <strong>Acwa Power<\/strong> and the sovereign fund\u2019s <strong>Badeel<\/strong> \u2014 with <strong>2.1 GW inverters<\/strong>. The plant is set to be inaugurated in 2025 and will be the largest in the world. (<a href=\"https:\/\/en.sungrowpower.com\/newsDetail\/3780\">Statement<\/a>) <\/li>\n<\/ul>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/also-on-our-radar\/\">ALSO ON OUR RADAR<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/korea-development-bank\/\">Korea Development Bank<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/mubadala\/\">Mubadala<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/south-korea\/\">South Korea<\/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=\"77589\" 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=\"77589\">\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\">AROUND THE WORLD<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/climate\/2023\/05\/23\/siemens-gamesa-inks-agreement-to-sell-its-stake-in-spains-windar-renovables\/\">\r\n                            Siemens Gamesa inks agreement to sell its stake in Spain\u2019s Windar Renovables                        <\/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\/23\/siemens-gamesa-inks-agreement-to-sell-its-stake-in-spains-windar-renovables\/\" 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\/23\/siemens-gamesa-inks-agreement-to-sell-its-stake-in-spains-windar-renovables\/')\">\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\/23\/siemens-gamesa-inks-agreement-to-sell-its-stake-in-spains-windar-renovables\/\">\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=Siemens Gamesa inks agreement to sell its stake in Spain\u2019s Windar Renovables&url=https:\/\/enterpriseam.com\/climate\/2023\/05\/23\/siemens-gamesa-inks-agreement-to-sell-its-stake-in-spains-windar-renovables\/\">\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\/23\/siemens-gamesa-inks-agreement-to-sell-its-stake-in-spains-windar-renovables\/&title=Siemens Gamesa inks agreement to sell its stake in Spain\u2019s Windar Renovables\">\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=Siemens+Gamesa+inks+agreement+to+sell+its+stake+in+Spain%E2%80%99s+Windar+Renovables+https%3A%2F%2Fenterpriseam.com%2Fclimate%2F2023%2F05%2F23%2Fsiemens-gamesa-inks-agreement-to-sell-its-stake-in-spains-windar-renovables%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\/23\/siemens-gamesa-inks-agreement-to-sell-its-stake-in-spains-windar-renovables\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/2\/675.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"77590\" data-permalink=\"https:\/\/enterpriseam.com\/climate\/2023\/05\/23\/siemens-gamesa-inks-agreement-to-sell-its-stake-in-spains-windar-renovables\/675-jpg-2\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/2\/675.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"675.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/2\/675.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/2\/675.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-77589\" class=\"content-area-description single-story post-77589 post type-post status-publish format-standard has-post-thumbnail hentry category-around-the-world tag-around-the-world tag-egypt tag-enterpriseclimate tag-renewables tag-siemens tag-spain tag-uae tag-uk wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Siemens will sell its share in Windar Renovables to the UK\u2019s Bridgepoint: <\/strong>Siemens Gamesa signed an agreement to sell its 32% stake in Spain-based renewable semiconductor manufacturing firm Windar Renovables \u2014 owned by the Daniel Alonso Group \u2014 to London-headquartered private investment firm Bridgepoint, <a href=\"https:\/\/www.reuters.com\/markets\/deals\/siemens-gamesa-agrees-sell-windar-renovables-stake-bridgepoint-2023-05-21\/\">Reuters<\/a> reports. The sale comes as the company pivots to focus on its core business of wind turbine design, manufacturing, installation, and maintenance, a company spokesperson for Gamesa parent company Siemens Energy told reporters on Sunday. The price tag of its planned stake sale was not disclosed.<\/p>\n<p><strong>Siemens has been making moves in our neck of the woods: <\/strong>Siemens Energy <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/1c57fe36-a86a-49de-b9c5-02823a9598cc\">inked an<\/a><a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/1c57fe36-a86a-49de-b9c5-02823a9598cc\">agreement<\/a> with UAE-based Brooge Energy back in February to jointly develop a solar energy plant in Abu Dhabi, and earlier that month its subsidiary Siemens Gamesa <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/743fc7e1-7603-4b4c-950a-7237e2fcbb78\">was in talks<\/a> with Egypt\u2019s Electricity and Renewable Energy Ministry to explore potential cooperation on green hydrogen and renewable energy projects in the country. Gamesa is a major player in Egypt\u2019s wind energy sector, and is involved in the <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/a2657cbe-36cc-4b18-8bb3-cd06b3652cd6\">500 MW Gulf of Suez wind farm<\/a> \u2014 formerly known as the <a href=\"https:\/\/enterprise.press\/stories\/2020\/06\/28\/siemens-to-announce-lekela-wind-farm-electric-works-bid-winner-next-month-17626\/\">Ras Gharib<\/a> wind plant, the <a href=\"https:\/\/enterprise.press\/stories\/2019\/10\/16\/siemens-gamesa-starts-work-on-lekelas-250-mw-west-bakr-wind-plant\/\">250 MW West Bakr wind farm<\/a>, and the <a href=\"https:\/\/enterprise.press\/stories\/2021\/02\/22\/siemens-wants-all-the-wind-projects-32931\/\">220 MW Gabal El Zeit 2<\/a>wind project in the Gulf of Suez.<\/p>\n<hr class=\"grey-line\">\n<p><strong>An EV minerals spree by Ford:<\/strong> US automaker Ford Motor announced several agreements for battery-grade lithium under its plan to push EVs production in next few years, <a href=\"https:\/\/www.cnbc.com\/2023\/05\/22\/ford-ev-minerals-deals-capital-markets-day.html\">CNBC<\/a> reports, citing a presentation by the company. The automaker has an ambitious plan to manufacture EVs at a rate of 2 mn annually by 2026. Both Albemarle and Nemaska Lithium will supply Ford with over 100k metric tons and up to 13k tons of lithium hydroxide over a period of five to 11 years, respectively. Other agreements include one with Compass Minerals for battery-grade lithium carbonate, and another with EnergySource Minerals for lithium hydroxide.<\/p>\n<p><strong>OTHER STORIES WORTH KNOWING ABOUT THIS MORNING-<\/strong><\/p>\n<ul>\n<li><strong>Norway <\/strong>is facing backlash from environmentalists for calling on fossil fuel companies to <strong>ramp up exploration in the Arctic Barents Sea <\/strong>as part of state plans to auction <strong><a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/5f95392f-a690-4c29-98d9-2afa2d3424ef\">a record 92 gas and oil blocks<\/a><\/strong> in the country\u2019s territorial waters. (<a href=\"https:\/\/www.cnbc.com\/2023\/05\/22\/norway-urges-energy-giants-to-ramp-up-search-for-arctic-oil-and-gas.html\">CNBC<\/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\/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\/renewables\/\">renewables<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/siemens\/\">Siemens<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/spain\/\">Spain<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/uae\/\">UAE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/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=\"77591\" 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=\"77591\">\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\">ON YOUR WAY OUT<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/climate\/2023\/05\/23\/e-waste-landfills-could-be-an-unexpected-source-of-gold-for-jewelry\/\">\r\n                            E-waste landfills could be an unexpected source of gold for jewelry                        <\/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\/23\/e-waste-landfills-could-be-an-unexpected-source-of-gold-for-jewelry\/\" 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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Lylie mines gold from unused electronic goods, which, according to estimates, could contain some 7% of the world\u2019s total gold supply. \u201cFor one ton of earth mined, you\u2019d get a yield of roughly nine grams of gold, but for every ton of e-waste mined, you\u2019d get around 300 grams of gold,\u201d Walter told the National.<\/p>\n<p><strong>How does it work:<\/strong> Lylie works with e-waste partners in the UK to source the metals from the motherboards of game console controllers and PCs, which are shredded and put through chemical baths to remove harmful toxins and make the metals safe for use. Some 80% of e-waste is not recycled properly and therefore ends up in landfills. It can take up to 17.5 old mobile phones to yield enough gold to make one wedding ring.<\/p>\n<p><strong>Others are following suit:<\/strong> Danish brand Pandora \u2014 one of the world\u2019s most famous jewelry makers \u2014 has pledged to ensure that the gold and silver used in its pieces is 100% recycled by 2025, and that some of it will be sourced from e-waste. Royal Mint, the UK government\u2019s coin producer, has partnered with Canadian clean tech start-up Excir to build the UK\u2019s first plant dedicated to the safe recovery of metals from e-waste.<\/p>\n<p><strong>E-waste recycling is picking up in the region: <\/strong>Saudi-based recycling company Tadweeer signed a USD 11.36 mn agreement with KSA-based firms Tebrak Trading & Contracting Company and Mounes Mohamed Alshayeb for Civil Construction for the development of e-waste repurposing plants in the kingdom <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/3e90027e-6339-40ba-a7a1-129567322106\">in January<\/a> and Canadian waste management outfit ERS International is launching Oman\u2019s <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/e2c3c3a6-6f2b-45e9-9a05-ee907fe6ffc5\">first e-waste recycling facility<\/a> in this year.<\/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\/gold\/\">gold<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/mining\/\">MINING<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/on-your-way-out\/\">ON YOUR WAY OUT<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/recycling\/\">recycling<\/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=\"77593\" 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\/23\/77593\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-77593\" class=\"content-area-description single-story post-77593 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>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>28 September (Thursday):<a href=\"https:\/\/www.iea.org\/news\/first-ever-iea-critical-minerals-and-clean-energy-summit-to-take-place-on-28-september\">International Energy Agency Critical Minerals and Clean Energy Summit<\/a>, Paris, France.<\/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":77570,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-77569","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"d626de74-20b7-49cd-bc64-77f5bf6afd73","teaser":"","photo_url":"https:\/\/ent.news\/2019\/6\/moneymoneymoney-1600px.jpg"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Neom achieves financial close for USD 8.4 bn hydrogen project - 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\/neom-achieves-financial-close-for-usd-8-4-bn-hydrogen-project\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" 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