{"id":77604,"date":"2023-05-24T01:00:37","date_gmt":"2023-05-24T01:00:37","guid":{"rendered":"https:\/\/enterpriseam.com\/climate\/?post_type=issue&#038;p=77604"},"modified":"2025-12-15T08:59:32","modified_gmt":"2025-12-15T08:59:32","slug":"energy-china-plans-to-sign-framework-agreement-for-usd-7-bn-green-hydrogen-plant-in-egypt","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/climate\/issues\/energy-china-plans-to-sign-framework-agreement-for-usd-7-bn-green-hydrogen-plant-in-egypt\/","title":{"rendered":"Energy China plans to sign framework agreement for USD 7 bn green hydrogen plant in Egypt"},"content":{"rendered":"<section id=\"77606\" 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=\"77606\">\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\/24\/today-majid-al-futtaim-is-lining-up-a-benchmark-green-sukuk-issuance-egypt-energy-china-ink-framework-agreement-for-usd-7-bn-green-hydrogen-plant\/\">\r\n                            TODAY: Majid Al Futtaim is lining up a benchmark green sukuk issuance + Egypt, Energy China ink framework agreement for USD 7 bn green hydrogen 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     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href=\"https:\/\/enterpriseam.com\/climate\/2023\/05\/24\/today-majid-al-futtaim-is-lining-up-a-benchmark-green-sukuk-issuance-egypt-energy-china-ink-framework-agreement-for-usd-7-bn-green-hydrogen-plant\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/5\/1910.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"77607\" data-permalink=\"https:\/\/enterpriseam.com\/climate\/2023\/05\/24\/today-majid-al-futtaim-is-lining-up-a-benchmark-green-sukuk-issuance-egypt-energy-china-ink-framework-agreement-for-usd-7-bn-green-hydrogen-plant\/1910-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/5\/1910.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1910.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/5\/1910.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/5\/1910.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-77606\" class=\"content-area-description single-story post-77606 post type-post status-publish format-standard has-post-thumbnail hentry category-what-were-tracking-today tag-aviation tag-cop28 tag-enterpriseclimate tag-sustainable-aviation-fuels tag-uae 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, nice people<\/strong>, and welcome to another brisk issue for you this morning.<\/p>\n<p><strong>THE BIG CLIMATE STORY-<\/strong> UAE retail conglomerate Majid Al Futtaim has selected banks to coordinate and manage its upcoming benchmark 10-year USD green sukuk issuance and Egypt\u2019s Suez Canal Economic Zone is on its way to finalizing a framework agreement with state-owned energy conglomerate China Energy for the development of a USD 7 bn green hydrogen plant in the SCZone.<\/p>\n<p><strong>^^ <\/strong><strong>We have the details on these stories and more in the news well, below.<\/strong><\/p>\n<p><strong>THE BIG CLIMATE STORY OUTSIDE THE REGION- Geneva Airport flights briefly grounded due to climate protests over private jets:<\/strong> Some 100 climate activists from environmental movement groups stormed the <a href=\"https:\/\/ebace.aero\/2023\/\">European Business Aviation Convention & Exhibition<\/a> private jet fair at Geneva Airport on its opening day yesterday. The protests led Switzerland\u2019s second largest airport to temporarily close itself off to flights as protesters scaled and ripped down wire fences and glued themselves to landing gear to demand a ban on business jet air travel. Some 80 climate activists, who during their protest stuck on airplanes warning labels like \u201cprivate jets burn our future,\u201d and \u201cprivate jets drown our hope,\u201d were detained by police forces. Geneva Airport \u2014 which saw some <a href=\"https:\/\/rapports.gva.ch\/ra\/2022\/en\/Timeline\/retour-sur-l-annee-2022\">14 mn passengers<\/a> travel through it in 2022 \u2014 delayed seven flights on the back of the demonstration, and was forced to divert others.<\/p>\n<p><strong>The story made the rounds in the international press yesterday:<\/strong> <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-05-23\/geneva-airport-disrupted-due-to-climate-protesters-on-tarmac\">Bloomberg<\/a> | <a href=\"https:\/\/www.reuters.com\/world\/europe\/climate-activists-disrupt-european-business-jet-event-demanding-ban-2023-05-23\/\">Reuters<\/a><a href=\"https:\/\/apnews.com\/article\/switzerland-geneva-climate-protest-private-jets-22bb2f45f12f6ad0c511fbe350838fc2\">Associated Press<\/a> | <a href=\"https:\/\/www.france24.com\/en\/live-news\/20230523-climate-activists-briefly-disrupt-air-traffic-in-geneva-airport\">France 24<\/a>.<\/p>\n<hr class=\"grey-line\">\n<p><a class=\"content-anchor\" id=\"tldr-story-06\"><\/a> <strong>WATCH THIS SPACE #1- COP28\u2019s Al Jaber is facing pressure from the west: <\/strong>Over 130 members of the EU Parliament and US Congress have submitted <a href=\"https:\/\/kickbigpollutersout.org\/sites\/default\/files\/2023-05\/2023.05.23%20Whitehouse-Aubry%20Transatlantic%20Letter%20re%20UNFCCC%20Corporate%20Influence_0.pdf\">an open letter (pdf)<\/a> addressed to US President Joe Biden, EU Commission President Ursula von der Leyen, United Nations Secretary General Antonio Guterres, and the UN\u2019s Climate Chief Simon Stiell calling for the removal of current COP28 President-Designate Sultan Al Jaber from his post due to concerns about his ties to the fossil fuel industry, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-05-23\/us-eu-lawmakers-want-al-jaber-out-as-cop28-president?srnd=premium-middle-east#xj4y7vzkg\">Bloomberg<\/a> writes. The letter also calls for measures to limit fossil fuel industry influence at the conference, asking for \u201cimmediate steps to limit the influence of polluting industries, particularly major fossil fuel industry players whose business strategies lie at clear odds with the central goals of the Paris Agreement, at gatherings of the UNFCCC.\u201d The Abu Dhabi National Oil Company \u2014 which Al Jaber serves as company CEO \u2014 has a target to <a href=\"https:\/\/www.theguardian.com\/environment\/2023\/apr\/04\/revealed-uae-plans-huge-oil-and-gas-expansion-as-it-hosts-un-climate-summit\">expand its oil and gas operations<\/a> to some 7.5 bn barrels in coming years.<\/p>\n<p><strong>WATCH THIS SPACE #2- Boeing chief says the transition to SAF will not be as <\/strong><strong>cost-effective as jet fuel: <\/strong>Government incentives aimed at making the transition to sustainable aviation fuels (SAF) affordable \u2014 including the US Inflation Reduction Act\u2019s tax breaks for SAF adoption as well as <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/73bdc340-7f9c-4518-b78d-3f4344260307\">EU<\/a>, and <a href=\"https:\/\/www.gov.uk\/government\/consultations\/pathway-to-net-zero-aviation-developing-the-uk-sustainable-aviation-fuel-mandate\">UK<\/a> policies \u2014 will not be enough to achieve price parity with conventional jet fuels, Boeing CEO David Calhoun told the <a href=\"https:\/\/www.ft.com\/content\/42099d27-3095-4e10-ba94-a3d33f9ff35a\">Financial Times<\/a>. SAF currently makes up less than one percent of the global aviation market\u2019s energy supplies and is twice as expensive as the fossil fuels that power the industry, the news outlet notes. The International Air Transport Association maintains that SAF will account for 65% of the carbon offsets that will power its <a href=\"https:\/\/airlines.iata.org\/analysis\/2050-net-zero-carbon-emissions\">target<\/a> to become carbon neutral by 2050, former IATA CEO Willie Walsh <a href=\"https:\/\/aerospaceforum.live.ft.com\/\">told FT<\/a>.<\/p>\n<p><strong>REMEMBER- We\u2019ve seen some movement in the regional SAF sector recently:<\/strong> Masdar, Emirates airlines, Adnoc, and Tadweer partnered up to launch a joint feasibility study with BP on the production of sustainable aviation fuels (SAFs) using solid waste and renewables-sourced hydrogen under an agreement <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/fe816882-70d1-498c-9017-d4c20fe76a56\">signed<\/a> back in January. Based on the results of the study, the companies could potentially set up the region\u2019s first commercial-scale SAF production facility in Abu Dhabi. Masdar also <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/e8230c15-8513-4dcd-9dbe-67e14f8bcd8c\">signed an agreement<\/a> with French aircraft manufacturer Airbus to jointly develop sustainable aviation fuels using direct air capture tech earlier this month.<\/p>\n<hr class=\"grey-line\">\n<p><strong>DATA POINT- Up to USD 1.7 tn needed to turn aviation sector green: <\/strong>Overhauling the aviation sector to run on alternative propulsion technologies \u2014 such as hydrogen, battery-electric, and hybrid-electric \u2014 will require a capital investment between USD 0.7 tn and USD 1.7 tn across the value chain by 2050, according to a <a href=\"https:\/\/ent.news\/2023\/5\/1909.pdf\">white paper (pdf)<\/a> by the World Economic Forum written in collaboration with McKinsey & Company. The paper concluded that global demand for alternative propulsion could require 600 to 1.7k TWh of clean energy by 2050, equivalent to the energy generated by around 10 to 25 of the world\u2019s largest wind farms.<\/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 tomorrow 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\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\/aviation\/\">Aviation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/cop28\/\">COP28<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/sustainable-aviation-fuels\/\">sustainable aviation fuels<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/uae\/\">UAE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/what-were-tracking-today\/\">WHAT WE\u2019RE TRACKING TODAY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"77608\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">      \r\n<section id=\"advertiser\" class=\"enterprise-adv issue-section\">\r\n    <div class=\"issue-section__content\" style=\"flex-direction: column;\">\r\n      <h4 class=\"wp-block-heading has-text-align-center has-normal-font-size\">\r\n        <span class=\"has-primary-color stk-highlight\"> This publication is proudly sponsored by<\/span>\r\n    <\/h4>\r\n\r\n    <div class=\"issue-sponsor-slide issue-sponsor-slide--single-slide mx-auto\">\r\n        <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/25497.png?ssl=1\">\r\n        <div class=\"overlay\"><\/div>\r\n        <div class=\"content\">\r\n            <a draggable=\"false\" href=\"https:\/\/www.hsbc.com.eg\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/25398.svg\" alt=\"\">\r\n            <\/a>\r\n            <span>Opening up a world of opportunity<\/span>\r\n        <\/div>\r\n    <\/div>\r\n\r\n      <\/div>\r\n<\/section> \r\n\r\n\n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"77609\" 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=\"77609\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">2<\/div>\r\n\r\n                    <p class=\"f-graphik\">DEBT WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/climate\/2023\/05\/24\/majid-al-futtaim-is-lining-up-a-benchmark-green-sukuk-issuance\/\">\r\n                            Majid Al Futtaim is lining up a benchmark green sukuk issuance                        <\/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\/24\/majid-al-futtaim-is-lining-up-a-benchmark-green-sukuk-issuance\/\" 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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A benchmark-sized issuance typically means at least USD 500 mn, the newswire notes.<\/p>\n<p><strong>Which banks are involved?<\/strong> Citigroup, HSBC, and Standard Chartered have been appointed as coordinators on the issuance, and they will be joined by Abu Dhabi Commercial Bank, Abu Dhabi Islamic Bank, Dubai Islamic Bank, and First Abu Dhabi Bank as lead managers, according to the newswire.<\/p>\n<p><strong>Where\u2019s the money going? <\/strong>Proceeds from the sukuk sale will go towards funding or refinancing green projects under the company's 2019 <a href=\"https:\/\/ent.news\/2023\/5\/1911.pdf\">Green Finance Framework (pdf)<\/a>, through which the retail conglomerate has so far raised a total of <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/9c38c6f3-9328-49d0-83b2-330b482a1066\">USD 1.2 bn<\/a>. The framework identified four areas for improving the company\u2019s green performance: Green buildings, renewable energy, sustainable water management, and energy efficiency.<\/p>\n<p><strong>Al-Futtaim was the first to issue corporate green sukuk in MENA:<\/strong> The company\u2019s USD 600 mn 10-year green sukuk issuance in <a href=\"https:\/\/www.majidalfuttaim.com\/en\/media-centre\/press-releases\/detail\/2019\/05\/majid-al-futtaim-lists-world-s-first-benchmark-corporate-green-sukuk-on-nasdaq-dubai\">May 2019<\/a> \u2014- which was 4.6x oversubscribed \u2014 was a pioneering initiative in the region and set the stage for others looking to diversify their green financing instruments, according to a <a href=\"https:\/\/ent.news\/2023\/5\/1912.pdf\">case study (pdf)<\/a> by UK-UAE think tank Posterity Institute. The bond was priced at around 4.6% and received orders in excess of USD 2.8 bn. The company raised another USD 600 mn through green sukuks in the same year, according to a <a href=\"https:\/\/ent.news\/2023\/5\/1913.pdf\">summary report (pdf)<\/a> by the UAE\u2019s Climate Change and Environment Ministry. The combined USD 1.2 bn issued by Futtaim in 2019 made up 30% of total ESG sukuk issuance by value that year.<\/p>\n<p><strong>REMEMBER-<\/strong> Interest in green sukuk has been on the rise in the region in recent months ahead of COP28 in the UAE. Abu Dhabi\u2019s Aldar Investment Properties raised <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/9fd09855-e3e2-415a-9f8f-4f57263a37b4\">USD 500 mn<\/a> through its debut 10-year inaugural green sukuk this week. Saudi Electricity Co raised <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/dc0006d4-cc80-48d1-a5f2-e7ddb444c6eb\">USD 2 bn<\/a> through a dual-tranche USD-denominated green and conventional sukuk in April, and Saudi Arabia\u2019s Al Rajhi Bank also raised <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/bb05f53f-ddc3-4c17-b2d1-6c8669e7f900\">USD 1 bn<\/a> from its five-year USD-denominated sustainable sukuk issuance the same week. Bahrain made its debut green sukuk issuance in 1H 2022, raising <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/9c38c6f3-9328-49d0-83b2-330b482a1066\">USD 900 mn<\/a> for Infracorp.<\/p>\n<p><strong>But the IsDB still reigns in regional green sukuk issuances:<\/strong> Saudi Arabia-based Islamic Development Bank (IsDB) has issued a total of USD 5.1 bn between 2017 and the first half of 2022 in green and sustainable sukuks, according to a <a href=\"https:\/\/ent.news\/2023\/5\/1914.pdf\">report (pdf)<\/a> prepared by the London Stock Exchange. While green sukuks are issued to specifically fund projects that have a positive environmental impact, proceeds from sustainability sukuks are applied to a combination of green and social projects.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/debt-watch\/\">DEBT WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/green-sukuk\/\">Green sukuk<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/majid-al-futtaim\/\">Majid Al Futtaim<\/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=\"77611\" 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=\"77611\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">3<\/div>\r\n\r\n                    <p class=\"f-graphik\">GREEN HYDROGEN<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/climate\/2023\/05\/24\/egypt-and-energy-china-plan-to-sign-framework-agreement-for-usd-7-bn-green-hydrogen-plant\/\">\r\n                            Egypt and Energy China plan to sign framework agreement for USD 7 bn green hydrogen 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\/24\/egypt-and-energy-china-plan-to-sign-framework-agreement-for-usd-7-bn-green-hydrogen-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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The expected price tag of the project has increased USD 1.9 bn from the previously announced USD 5.1 bn investment earmarked for the project <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/fa878ad1-53fa-486f-9f54-cd3f552f5e3c\">back in March<\/a>.The agreement was signed by SCZone CEO Walid Gamal El Din during the SCZone\u2019s global roadshow <a href=\"https:\/\/sczone.eg\/sczone-delegation-heads-to-china-and-hong-kong-to-attract-various-investments\/\">this week<\/a> to drum up investments, and a visit to India is on the agenda for <a href=\"https:\/\/sczone.eg\/sczone-conducts-intensive-promotional-tours-to-explore-new-investment-opportunities\/\">next month<\/a>.<\/p>\n<p><strong>What we know about the project:<\/strong> The green hydrogen plant \u2014 which both the SCZone and Energy China have both yet to announce a timeline for \u2014 would produce 210k tons of green hydrogen and 1.2 mn tons of green ammonia per year, the statement notes.<\/p>\n<p><strong>REFRESHER- The Egyptian government approved green hydrogen incentives earlier this <\/strong><strong>month to boost the country\u2019s green hydrogen sector <\/strong>and enhance foreign exchange inflows, and signed <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/1f8d7402-6d05-4eae-b3b0-b5bb811be7ab\">framework agreements worth c. USD 83 bn<\/a> for nine green hydrogen and ammonia plants at COP27 last year. The plants would produce up to 7.6 mn tons of green ammonia and 2.7 mn tons of hydrogen a year once fully operational.<\/p>\n<p><strong>SCZone is drumming up interest in Egypt\u2019s renewables sector:<\/strong> SCZone\u2019s delegation said several Chinese firms have already expressed interest in Egypt\u2019s renewables manufacturing sector including <a href=\"http:\/\/www.sinoma.com.cn\/\">Sinoma Engineering<\/a>, which is gearing up to establish a turbine blade manufacturing plant in the SCZone, according to a separate <a href=\"https:\/\/www.facebook.com\/SCZONE.EG\/posts\/pfbid0ZKCbzRgYxGMj2B6D9AFoHC1ZTvsp8zcTfkab7r8sYVuJbBQSU2Q6tZkMWXV4PNqhl\">statement<\/a>.<\/p>\n<p><strong>Energy China is looking to expand its regional foothold beyond Egypt:<\/strong> Back in March, the company <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/a4ed3203-019b-4539-b614-96787d12f54a\">signed an MoU<\/a> with Morocco\u2019s Gaia Energy and Saudi Arabia\u2019s Ajlan & Bros to jointly build a green hydrogen production facility in the kingdom which is set to produce some 1.4 mn tons of the green ammonia and 320k tons of green hydrogen annually once operational.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/china\/\">China<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/egypt\/\">Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/green-hydrogen\/\">green hydrogen<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/hydrogen\/\">hydrogen<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <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=\"77613\" 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=\"77613\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/climate\/2023\/05\/24\/77613\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-77613\" class=\"content-area-description single-story post-77613 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\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=\"77614\" 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=\"77614\">\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\">DECARBONIZATION<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/climate\/2023\/05\/24\/uaes-two-zero-buys-7-3-mn-mwh-worth-of-clean-energy-certificates-from-ewec\/\">\r\n                            UAE\u2019s Two Zero buys 7.3 mn MWh worth of clean energy certificates from EWEC                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a 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buys 7.3 mn MWh worth of clean energy certificates from EWEC\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=UAE%E2%80%99s+Two+Zero+buys+7.3+mn+MWh+worth+of+clean+energy+certificates+from+EWEC+https%3A%2F%2Fenterpriseam.com%2Fclimate%2F2023%2F05%2F24%2Fuaes-two-zero-buys-7-3-mn-mwh-worth-of-clean-energy-certificates-from-ewec%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\/24\/uaes-two-zero-buys-7-3-mn-mwh-worth-of-clean-energy-certificates-from-ewec\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/5\/1917.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"77615\" data-permalink=\"https:\/\/enterpriseam.com\/climate\/2023\/05\/24\/uaes-two-zero-buys-7-3-mn-mwh-worth-of-clean-energy-certificates-from-ewec\/1917-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/5\/1917.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1917.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/5\/1917.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/5\/1917.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-77614\" class=\"content-area-description single-story post-77614 post type-post status-publish format-standard has-post-thumbnail hentry category-decarbonization tag-carbon-footprint tag-climate tag-decarbonization tag-enterpriseclimate tag-ewec tag-renewables tag-uae wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-03\"><\/a><strong> EWEC makes its biggest single sale of clean energy certificates:<\/strong> The Emirates Water and Electricity Company (EWEC) has made its biggest single sale of <a href=\"https:\/\/www.ewec.ae\/en\/CleanEnergyCertificates\">clean energy certificates<\/a> to UAE\u2019s digital infrastructure developer <a href=\"https:\/\/www.zero-two.ae\/\">Two Zero<\/a>, according to a <a href=\"https:\/\/www.ewec.ae\/en\/media\/press-release\/ewec-and-zero-two-announce-largest-single-clean-energy-certificates-purchase\">statement<\/a>. The company purchased 7.3 mn MWh of clean energy through EWEC\u2019s auction process in a bid to decarbonize its operations and reach its sustainability objectives. This marks EWEC\u2019s first sale to the digital assets infrastructure sector. The price of the purchase agreement was not disclosed.<\/p>\n<p><strong>EWEC\u2019s last auction sold big:<\/strong> EWEC sold over <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/d6a54cfd-9b4a-4c3e-b76c-6c193e3b91ab\">9 mn certificates<\/a> last January to Abu Dhabi based entities across different sectors, six months after the company\u2019s fourth auction was held in June 2022. The equivalent of 9 mn certificates in MWh of renewables was not disclosed at the time.<\/p>\n<p><strong>SOUND SMART-<\/strong> Renewable energy certificates (RECs) \u2014 of which clean energy certificates fall under \u2014 are a MWh-by-MWh way of proving that you own or created renewable energy. An REC is issued when one MWh is delivered to the electricity grid from a renewable energy source, the US Environmental Protection Agency <a href=\"https:\/\/www.epa.gov\/green-power-markets\/renewable-energy-certificates-recs\">(EPA) notes<\/a>. While carbon credits help reduce greenhouse gas emissions, renewable energy certificates <a href=\"https:\/\/blog.constellation.com\/2016\/02\/10\/what-are-renewable-energy-certificates\/#:~:text=The%20main%20difference%20between%20renewable,use%20from%20non%2Drenewable%20sources.\">offset non-renewable electricity use<\/a>.<\/p>\n\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\/carbon-footprint\/\">carbon footprint<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/climate\/\">Climate<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/decarbonization\/\">decarbonization<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/ewec\/\">Ewec<\/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=\"77616\" 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=\"77616\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">5<\/div>\r\n\r\n                    <p class=\"f-graphik\">GREEN FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/climate\/2023\/05\/24\/bloomberg-philanthropies-and-irena-join-forces-to-boost-clean-energy-deployment-and-financing-in-ems\/\">\r\n                            Bloomberg Philanthropies and Irena join forces to boost clean energy deployment and financing in EMs                        <\/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\/24\/bloomberg-philanthropies-and-irena-join-forces-to-boost-clean-energy-deployment-and-financing-in-ems\/\" 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\/24\/bloomberg-philanthropies-and-irena-join-forces-to-boost-clean-energy-deployment-and-financing-in-ems\/')\">\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\/24\/bloomberg-philanthropies-and-irena-join-forces-to-boost-clean-energy-deployment-and-financing-in-ems\/\">\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=Bloomberg Philanthropies and Irena join forces to boost clean energy deployment and financing in EMs&url=https:\/\/enterpriseam.com\/climate\/2023\/05\/24\/bloomberg-philanthropies-and-irena-join-forces-to-boost-clean-energy-deployment-and-financing-in-ems\/\">\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\/24\/bloomberg-philanthropies-and-irena-join-forces-to-boost-clean-energy-deployment-and-financing-in-ems\/&title=Bloomberg Philanthropies and Irena join forces to boost clean energy deployment and financing in EMs\">\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=Bloomberg+Philanthropies+and+Irena+join+forces+to+boost+clean+energy+deployment+and+financing+in+EMs+https%3A%2F%2Fenterpriseam.com%2Fclimate%2F2023%2F05%2F24%2Fbloomberg-philanthropies-and-irena-join-forces-to-boost-clean-energy-deployment-and-financing-in-ems%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\/24\/bloomberg-philanthropies-and-irena-join-forces-to-boost-clean-energy-deployment-and-financing-in-ems\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/5\/1918.jpeg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"77617\" data-permalink=\"https:\/\/enterpriseam.com\/climate\/2023\/05\/24\/bloomberg-philanthropies-and-irena-join-forces-to-boost-clean-energy-deployment-and-financing-in-ems\/1918-jpeg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/5\/1918.jpeg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1918.jpeg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/5\/1918.jpeg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/5\/1918.jpeg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-77616\" class=\"content-area-description single-story post-77616 post type-post status-publish format-standard has-post-thumbnail hentry category-green-finance tag-bloomberg tag-bloomberg-philanthropies tag-cop28 tag-enterpriseclimate tag-green-finance tag-irena 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 major partnership ahead of COP28:<\/strong> Bloomberg Philanthropies and the International Renewable Energy Agency (Irena) have announced a partnership to boost clean energy deployment and capital mobilization in emerging markets and developing economies (EMDEs), according to a <a href=\"https:\/\/www.irena.org\/News\/pressreleases\/2023\/May\/Bloomberg-Philanthropies-IRENA-Announce-COP28-Partnership\">statement<\/a>. The philanthropic organization will back Irena to accelerate efforts to drive an all-round adoption of renewable energy and minimize political, technical, and financial barriers to the energy transition.<\/p>\n<p><strong>How the partnership will work:<\/strong> Bloomberg Philanthropies will support Irena\u2019s efforts on three fronts: Building capacities in Southeast Asia, Africa, and Latin America through policy recommendations, technical support, and financing solutions towards advancing decarbonization and robust climate resilience; strengthening Irena\u2019s Energy Transition Accelerator Financing Platform, which focuses on capital mobilization to advance renewables-based energy transition technologies in EMDEs by 2030; and, in partnership with the Glasgow Financial Alliance for Net Zero, presenting readily investable energy transition projects to financial institutions committed to zero emissions and boosting investments in climate solutions in developing countries.<\/p>\n<p><strong>Much needed:<\/strong> Clean energy finance in EMDEs continues to face several hurdles, including a strong supply of bankable renewable energy projects in the region, according to the statement. Irena estimated investments in renewables last year at USD 0.5 tn, representing less than one-third of the average annual investments required until 2030 to reach net zero emissions goals by 2050. Bloomberg and Irena\u2019s new partnership would help advance a pipeline of luring renewable energy projects through lowering the \u201crisk for potential developers and investors by providing vigorous technical and financial expertise to eligible projects that meet environmental, social, regulatory, and economic factors and implementation readiness.\u201d<\/p>\n\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\/bloomberg\/\">Bloomberg<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/bloomberg-philanthropies\/\">Bloomberg Philanthropies<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/cop28\/\">COP28<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/green-finance\/\">green finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/irena\/\">IRENA<\/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=\"77618\" 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=\"77618\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">6<\/div>\r\n\r\n                    <p class=\"f-graphik\">ALSO ON OUR RADAR<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/climate\/2023\/05\/24\/swedens-skf-invests-usd-4-7-mn-in-moroccan-magnetic-bearing-plant\/\">\r\n                            Sweden\u2019s SKF invests USD 4.7 mn in Moroccan magnetic bearing 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\/24\/swedens-skf-invests-usd-4-7-mn-in-moroccan-magnetic-bearing-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(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/climate\/2023\/05\/24\/swedens-skf-invests-usd-4-7-mn-in-moroccan-magnetic-bearing-plant\/')\">\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\/24\/swedens-skf-invests-usd-4-7-mn-in-moroccan-magnetic-bearing-plant\/\">\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=Sweden\u2019s SKF invests USD 4.7 mn in Moroccan magnetic bearing plant&url=https:\/\/enterpriseam.com\/climate\/2023\/05\/24\/swedens-skf-invests-usd-4-7-mn-in-moroccan-magnetic-bearing-plant\/\">\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\/24\/swedens-skf-invests-usd-4-7-mn-in-moroccan-magnetic-bearing-plant\/&title=Sweden\u2019s SKF invests USD 4.7 mn in Moroccan magnetic bearing plant\">\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=Sweden%E2%80%99s+SKF+invests+USD+4.7+mn+in+Moroccan+magnetic+bearing+plant+https%3A%2F%2Fenterpriseam.com%2Fclimate%2F2023%2F05%2F24%2Fswedens-skf-invests-usd-4-7-mn-in-moroccan-magnetic-bearing-plant%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\/24\/swedens-skf-invests-usd-4-7-mn-in-moroccan-magnetic-bearing-plant\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/5\/1919.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"77619\" data-permalink=\"https:\/\/enterpriseam.com\/climate\/2023\/05\/24\/swedens-skf-invests-usd-4-7-mn-in-moroccan-magnetic-bearing-plant\/1919-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/5\/1919.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1919.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/5\/1919.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/5\/1919.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-77618\" class=\"content-area-description single-story post-77618 post type-post status-publish format-standard has-post-thumbnail hentry category-also-on-our-radar tag-afc tag-also-on-our-radar tag-enterpriseclimate tag-morocco tag-skf 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-05\"><\/a> <strong>Sweden\u2019s bearing and seal manufacturing company SKF will invest SEK 50 mn <\/strong><strong>(USD 4.7 mn) in a new magnetic bearing plant in Morocco<\/strong>, according to a <a href=\"https:\/\/www.skf.com\/mena\/news-and-events\/news\/2023\/2023-may-22-skf-invests-in-magnetic-bearing-manufacturing-to-meet-increasing-demand-4544535\">statement<\/a>. \u201cAs this technology is now playing a central role in green industries, we need to make sure we can maintain our leading position in terms of technical development and customer service. Our new site in Morocco is an important step in this direction,\u201d SKF\u2019s President for Independent and Emerging Business Thomas Fr\u00f6st said.<\/p>\n<p><strong>Why this matters for green industries: <\/strong>Magnetic bearings have multiple uses within turbomachinery and other high-speed applications, including hydrogen gas liquefaction and oil-free industrial compressors, the statement said. Active magnetic bearings provide the same advantages to hydrogen gas liquefaction for transport and storage as they do with hydrocarbons, according to the <a href=\"https:\/\/evolution.skf.com\/supporting-the-energy-revolution\/\">company\u2019s website<\/a>. It can also be used in carbon capture, utilization and storage (CCUS) to help keep CO2 emissions out of the air by collecting CO2 at the source and storing it in locations like empty oil and gas wells.<\/p>\n<hr class=\"grey-line\">\n<p><strong>AFC, Morocco partner over financing solutions for key sectors:<\/strong> Africa\u2019s infrastructure solutions provider Africa Finance Corporation has signed an MoU with Morocco\u2019s Economy and Finance Ministry to provide project development and financing solutions for projects in renewable energy and natural resources, according to a <a href=\"https:\/\/www.africafc.org\/news-and-insights\/news\/morocco-partners-with-africa-finance-corporation-to-advance-critical-financing-for-local-institutions\">statement<\/a>. Pipeline projects under discussion include cooperation under the country\u2019s renewables strategy and the refurbishment of railway infrastructure to enhance mobility between rural towns and Rabat, the statement said.<\/p>\n<p><strong>OTHER STORIES WORTH KNOWING ABOUT THIS MORNING-<\/strong><\/p>\n<ul>\n<li><strong>Oman\u2019s Nama Power and Water Procurement Company<\/strong> \u2014 <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/5f0216f8-f9f0-4aae-98d3-c4590e280a34\">previously OPWP<\/a> \u2014 has adjusted the combined cost of its 1 GW Manah 1 and Manah 2 solar plants to USD 800 mn instead of the previously expected <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/0631666c-40ae-4f36-b946-53e1f64a9375\">USD 780 mn<\/a>. (<a href=\"https:\/\/www.muscatdaily.com\/2023\/05\/20\/800mn-pacts-inked-to-operate-2-solar-power-projects-in-manah\/\">Muscat Daily<\/a>)<\/li>\n<li><strong>Abu Dhabi Waste Management Company (Tadweer)<\/strong> is distributing new, <strong>larger-capacity green recycling<\/strong> <strong>containers<\/strong> in central locations across the UAE as part of its initiative to improve waste sorting and promote recycling. (<a href=\"https:\/\/wam.ae\/en\/details\/1395303160750\">Wam<\/a>)<\/li>\n<\/ul>\n\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\/afc\/\">AFC<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/also-on-our-radar\/\">ALSO ON OUR RADAR<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/morocco\/\">Morocco<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/skf\/\">SKF<\/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=\"77620\" 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=\"77620\">\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\">AROUND THE WORLD<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/climate\/2023\/05\/24\/china-may-overtake-the-us-in-solar-panel-production-capacity\/\">\r\n                            China may overtake the US in solar panel production capacity                        <\/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\/24\/china-may-overtake-the-us-in-solar-panel-production-capacity\/\" 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\/24\/china-may-overtake-the-us-in-solar-panel-production-capacity\/')\">\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\/24\/china-may-overtake-the-us-in-solar-panel-production-capacity\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=China may overtake the US in solar panel production capacity&url=https:\/\/enterpriseam.com\/climate\/2023\/05\/24\/china-may-overtake-the-us-in-solar-panel-production-capacity\/\">\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\/24\/china-may-overtake-the-us-in-solar-panel-production-capacity\/&title=China may overtake the US in solar panel production capacity\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=China+may+overtake+the+US+in+solar+panel+production+capacity+https%3A%2F%2Fenterpriseam.com%2Fclimate%2F2023%2F05%2F24%2Fchina-may-overtake-the-us-in-solar-panel-production-capacity%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\/24\/china-may-overtake-the-us-in-solar-panel-production-capacity\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/8\/1971.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"77621\" data-permalink=\"https:\/\/enterpriseam.com\/climate\/2023\/05\/24\/china-may-overtake-the-us-in-solar-panel-production-capacity\/1971-jpg-8\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/8\/1971.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1971.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/8\/1971.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/8\/1971.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-77620\" class=\"content-area-description single-story post-77620 post type-post status-publish format-standard has-post-thumbnail hentry category-around-the-world tag-around-the-world tag-china tag-enterpriseclimate tag-renewables tag-usa wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>China on track to produce more solar panels than the US in 2023:<\/strong> China has tripled its solar panel production capacity between January and April on the back of government subsidies to boost the energy transition and lower solar panel production costs, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-05-22\/china-s-solar-power-boom-is-accelerating-past-last-year-s-record-surge?srnd=premium-middle-east\">Bloomberg<\/a> writes. The country may install some 154 GW of solar energy in 2023 and is expected to overtake the US in terms of PV production capacity this year. The China Photovoltaic Industry Association said it expects the country to add between <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-02-16\/china-s-world-beating-solar-boom-is-heading-for-a-record-year\">95-120 GW<\/a> this year, up from last year\u2019s <a href=\"https:\/\/www.pv-magazine.com\/2023\/01\/18\/china-added-87-41-gw-of-solar-in-2022\/\">record<\/a> of 87.4 GW in total added solar power capacity. Next year could see the country up the capacity by a further to some 300 GW. The US, through its <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/3907e1bd-299f-46ad-8f42-7d0fead9dcc7\">Inflation Reduction Act<\/a>, is earmarking USD 369 bn in tax credits to bolster the transition to renewables and source critical minerals for <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/d996165d-0386-422f-822a-681f3246d700\">EV production<\/a> .<\/p>\n<p><strong>A subsidy race between the US, China and the EU can benefit everyone:<\/strong> While subsidies are only second best to carbon taxes \u2014 with some of the challenges of subsidizing green tech including increasing government spending and inefficient resource allocation \u2014 a renewable subsidy race between the world\u2019s three biggest blocks can help create economies of scale and lower the costs of nascent technologies. Adjustments to the green subsidy policies and protectionist measures put up by the big three blocks can help to ensure a more level playing field, especially for the Global South. Decarbonization efforts being conducted between the Global North and the Global South, as well as \u201c<a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/0a65de1b-9111-46ea-93d5-05f6e584c510\">friendshoring<\/a>,\u201d could help technology transfer to create more opportunities for smaller economies.<\/p>\n<hr class=\"grey-line\">\n<p><strong>Volvo signs agreement to buy renewable energy from Swedish wind farm: <\/strong>Swedish automaker Volvo has signed a 10-year power purchase agreement with Swedish renewables producer Vattenfall AB to buy 50% of the energy generated from the Bruzaholm wind park from 4Q 2025, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-05-23\/volvo-signs-green-power-deal-with-wind-park-in-rare-agreement?srnd=premium-middle-east\">Bloomberg<\/a> reports. The wind park \u2014 which will break ground this summer \u2014 will supply Volvo with 225 GWh per year once operational. While the EU has set rules to cut emissions from vehicles, no such rules have been set for slashing emissions from the production of EVs. Despite this, Volvo aims to reach net zero greenhouse gas emissions in its value chain by 2040.<\/p>\n<p><strong>OTHER STORIES WORTH KNOWING ABOUT THIS MORNING-<\/strong><\/p>\n<ul>\n<li>The <strong>EU<\/strong> and <strong>South Korea<\/strong> have launched a Green Partnership to boost cooperation on <strong>climate change<\/strong> and <strong>green transition<\/strong>. (<a href=\"https:\/\/ec.europa.eu\/commission\/presscorner\/detail\/en\/ip_23_2816\">Statement<\/a>)<\/li>\n<\/ul>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/around-the-world\/\">AROUND THE WORLD<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/china\/\">China<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/renewables\/\">renewables<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/usa\/\">USA<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"77622\" 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=\"77622\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">8<\/div>\r\n\r\n                    <p class=\"f-graphik\">ON YOUR WAY OUT<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/climate\/2023\/05\/24\/can-perovskite-solar-panels-pave-the-way-for-more-efficient-solar-power\/\">\r\n                            Can perovskite solar panels pave the way for more efficient solar power?                        <\/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\/24\/can-perovskite-solar-panels-pave-the-way-for-more-efficient-solar-power\/\" 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\/24\/can-perovskite-solar-panels-pave-the-way-for-more-efficient-solar-power\/')\">\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\/24\/can-perovskite-solar-panels-pave-the-way-for-more-efficient-solar-power\/\">\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=Can perovskite solar panels pave the way for more efficient solar power?&url=https:\/\/enterpriseam.com\/climate\/2023\/05\/24\/can-perovskite-solar-panels-pave-the-way-for-more-efficient-solar-power\/\">\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\/24\/can-perovskite-solar-panels-pave-the-way-for-more-efficient-solar-power\/&title=Can perovskite solar panels pave the way for more efficient solar power?\">\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=Can+perovskite+solar+panels+pave+the+way+for+more+efficient+solar+power%3F+https%3A%2F%2Fenterpriseam.com%2Fclimate%2F2023%2F05%2F24%2Fcan-perovskite-solar-panels-pave-the-way-for-more-efficient-solar-power%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\/24\/can-perovskite-solar-panels-pave-the-way-for-more-efficient-solar-power\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/5\/1920.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"77623\" data-permalink=\"https:\/\/enterpriseam.com\/climate\/2023\/05\/24\/can-perovskite-solar-panels-pave-the-way-for-more-efficient-solar-power\/1920-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/5\/1920.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1920.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/5\/1920.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/5\/1920.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-77622\" class=\"content-area-description single-story post-77622 post type-post status-publish format-standard has-post-thumbnail hentry category-on-your-way-out tag-enterpriseclimate tag-microsoft tag-on-your-way-out tag-renewables tag-usa wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-07\"><\/a> <strong>Can perovskite-based solar panels become an industry standard? <\/strong>Government-backed researchers and private sectors are looking to use perovskite \u2014 a mineral that can potentially outperform silicon \u2014 to increase the energy efficiency of solar panels, <a href=\"https:\/\/www.cnbc.com\/2023\/05\/20\/a-bill-gates-based-photovoltaic-tech-that-may-be-solar-powers-future.html\">CNBC<\/a> writes. Researchers from the US National Renewable Energy Laboratory have already attained a record energy efficiency rate of <a href=\"https:\/\/www.pv-magazine.com\/2022\/07\/07\/csem-epfl-achieve-31-25-efficiency-for-tandem-perovskite-silicon-solar-cell\/\">31.25%<\/a> from perovskite-based panels \u2014 compared to silicon-based panels\u2019 <a href=\"https:\/\/www.nature.com\/articles\/srep13536#:~:text=The%20Shockley%2DQueisser%20limit%20describes,new%20photovoltaic%20technologies%20are%20compared.\">theoretical efficiency limit<\/a> of 29%. Solar panel\u2019s average average power conversion efficiency rate ranges between 15-20% on the efficiency metric, according to Italian utilities giant <a href=\"https:\/\/corporate.enelx.com\/en\/question-and-answers\/are-solar-panels-energy-efficient#:~:text=Manufacturers%20rate%20solar%20panels%20by,energy%20transformed%20into%20usable%20electricity.\">Enel X<\/a>. Solar energy efficiency rates measure panels\u2019 capacity to convert solar power into usable electricity.<\/p>\n<p><strong>Perovskite is getting backing from major players: <\/strong>Venture capital firm Breakthrough Energy Ventures \u2014 backed by Microsoft chairman Bill Gates \u2014 has been investing in US-based solar company <a href=\"https:\/\/cubicpv.com\/\">CubicPV<\/a>, which coats its silicon solar panels\u2019 with perovskite to reach an energy efficiency rate of 30%, the news outlet writes. The company <a href=\"https:\/\/news.mit.edu\/2023\/moving-perovskite-advancements-lab-manufacturing-floor-0420\">will take part<\/a> in a new Massachusetts Institute of Technology research center with the aim of utilizing artificial intelligence and automation to upscale the production capacity of tandem perovskite panels, and will set up a 10 GW US-based <a href=\"https:\/\/www.pv-magazine.com\/2022\/12\/16\/cubicpv-plans-10-gw-of-conventional-silicon-wafer-production\/\">silicon wafer plant<\/a> to hasten perovskite tandem panel deployments, the news outlet notes.<\/p>\n<p><strong>And the region is keeping up: <\/strong>Researchers from Saudi Arabia\u2019s King Abdullah University of Science and Technology (KAUST) have <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/f123ee40-27b2-4f82-b138-7b96ce6f9655\">created<\/a> tandem solar systems with a power conversion efficiency rate of 33.2% \u2014 up 0.7 percentage points from previous global record holder Helmholtz-Zentrum Berlin.<\/p>\n<p><strong>Graphene-based solar panels could also quicken the transition to renewables:<\/strong> Engineering students at Oman\u2019s Sultan Qaboos University have <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/5b732404-2040-4069-9579-32de757dfcf2\">developed<\/a> a solar panel production technique that relies on polyethylene and graphene instead of crystalline silicon. The new method can yield elastic, durable panels that are 60% more efficient at absorbing light than silicon-based alternatives, they say. The team will continue research with plans to manufacture solar cells at their university\u2019s lab using locally sourced polyethylene.<\/p>\n\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\/microsoft\/\">microsoft<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/on-your-way-out\/\">ON YOUR WAY OUT<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/renewables\/\">renewables<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/usa\/\">USA<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"77624\" 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\/24\/77624\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-77624\" class=\"content-area-description single-story post-77624 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\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":77605,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-77604","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"8fc37236-8365-4857-8045-dae879a5391f","teaser":"","photo_url":"https:\/\/ent.news\/2020\/10\/38.jpg"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Energy China plans to sign framework agreement for USD 7 bn green hydrogen plant in Egypt - 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\/energy-china-plans-to-sign-framework-agreement-for-usd-7-bn-green-hydrogen-plant-in-egypt\/\" \/>\n<meta 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