{"id":78638,"date":"2023-07-26T01:00:57","date_gmt":"2023-07-26T01:00:57","guid":{"rendered":"https:\/\/enterpriseam.com\/climate\/?post_type=issue&#038;p=78638"},"modified":"2025-12-15T09:17:54","modified_gmt":"2025-12-15T09:17:54","slug":"egypts-military-affiliated-nspo-acquires-20-stake-in-taqa-arabia","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/climate\/issues\/egypts-military-affiliated-nspo-acquires-20-stake-in-taqa-arabia\/","title":{"rendered":"Egypt\u2019s military-affiliated NSPO acquires 20% stake in Taqa Arabia"},"content":{"rendered":"<section id=\"78640\" 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=\"78640\">\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\/07\/26\/today-egypts-military-affiliated-nspo-acquires-20-stake-in-taqa-arabia\/\">\r\n                            TODAY: Egypt\u2019s military-affiliated NSPO acquires 20% stake in Taqa Arabia                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a 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href=\"https:\/\/enterpriseam.com\/climate\/2023\/07\/26\/today-egypts-military-affiliated-nspo-acquires-20-stake-in-taqa-arabia\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/10\/Suez-Canal-shipping-exports-1600px.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"78641\" data-permalink=\"https:\/\/enterpriseam.com\/climate\/2023\/07\/26\/today-egypts-military-affiliated-nspo-acquires-20-stake-in-taqa-arabia\/suez-canal-shipping-exports-1600px-jpg-2\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/10\/Suez-Canal-shipping-exports-1600px.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"Suez-Canal-shipping-exports-1600px.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/10\/Suez-Canal-shipping-exports-1600px.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/10\/Suez-Canal-shipping-exports-1600px.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-78640\" class=\"content-area-description single-story post-78640 post type-post status-publish format-standard has-post-thumbnail hentry category-what-were-tracking-today tag-cop28 tag-egypt tag-enterpriseclimate tag-evs tag-green-methanol tag-sczone 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, friends. <\/strong>We have another brisk issue for you this morning as the regional climate updates continue to trickle in.<\/p>\n<p><strong>THE BIG CLIMATE STORY- <\/strong>The Egyptian military-affiliated National Service Projects Organization (NSPO) acquired a 20% stake in recently-listed Taqa Arabia one day after one of the energy company\u2019s major shareholders executed a block trade and transferred the proceeds to one of its unnamed creditors.<\/p>\n<p><strong>ALSO IN OUR NEWSWELL- <\/strong>We continue our conversation with Egypt\u2019s climate champion Mahmoud Mohieldin to discuss the emissions and fossil fuel phasedown debate, and what we can expect from COP28.<\/p>\n<p><strong>^^ We have more details on these stories and more, below. <\/strong><\/p>\n<p><strong>THE BIG CLIMATE STORY OUTSIDE THE REGION- <\/strong>There\u2019s no single climate story dominating international headlines this morning, but deadly wildfires in the Mediterranean continued to get the international press\u2019 attention. At least 34 people were killed in Algeria as the country tried to contain forest fires amid a sweeping heat wave hitting North Africa and southern Europe. The deadly fires also lead to the closure of two border crossings with neighboring Tunisia. Meanwhile in Greece, two pilots have died after a water-bombing plane fighting wildfires in the country crashed as the country scrambles to contain wildfires that have forced the evacuation of tens of thousands in the past days.<\/p>\n<p><strong>The Mediterranean region is a \u201cclimate change hotspot\u201d:<\/strong> Greek Prime Minister Kyriakos Mitsotakis said his country was among those severely impacted by climate change. \u201cI will state the obvious: in the face of what the entire planet is facing, especially the Mediterranean which is a climate change hot-spot, there is no magical defense mechanism, if there was we would have implemented it,\u201d Mitsotakis said.<\/p>\n<p><strong>The deadly wildfires got coverage from:<\/strong> <a href=\"https:\/\/www.reuters.com\/world\/europe\/wildfires-bring-death-destruction-mediterranean-2023-07-25\/\">Reuters<\/a> | <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-07-25\/heat-builds-again-across-greece-as-strong-winds-fan-wildfires\">Bloomberg<\/a> | <a href=\"https:\/\/apnews.com\/article\/greece-wildfires-evacuation-tourists-rhodes-75f2058b3a4d6bf78ef2ddd583625f81\">The Associated Press<\/a> | <a href=\"https:\/\/www.theguardian.com\/world\/2023\/jul\/25\/mediterranean-is-hotspot-for-climate-change-says-greek-pm\">The Guardian<\/a> | <a href=\"https:\/\/www.ft.com\/content\/40ff9f55-cf18-4440-a8d2-002e0bd8ff98\">The Financial Times<\/a> | <a href=\"https:\/\/www.bbc.com\/news\/live\/world-66287208\">BBC<\/a> | <a href=\"https:\/\/news.sky.com\/video\/footage-shows-impact-of-wildfires-across-the-mediterranean-in-the-last-24-hours-alone-12927284\">Sky News<\/a><\/p>\n<hr class=\"grey-line\">\n<p><strong>OVER IN COPLAND- COP28 launches its Food Systems and Agriculture Agenda: <\/strong>The COP28 UAE Presidency launched the Food Systems and Agriculture Agenda and <a href=\"https:\/\/twitter.com\/COP28_UAE\/status\/1683509335521910785\">invited governments to sign<\/a> the Leaders Declaration on Food Systems, Agriculture and Climate, which asks governments to align their national food systems and agriculture strategies with their Nationally Determined Contributions, National Adaptation Plans, and National Biodiversity Strategies and Action Plans. The Presidency \u2014 represented by UAE Climate Change and Environment Minister Mariam Almheiri \u2014 stated that it will work alongside the UN Food Systems Coordination Hub and a diverse group of partners to advance the Food Systems and Agriculture Agenda.<\/p>\n<p><strong>COP28 is gathering the troops: <\/strong>The COP28 Presidency will bring together businesses, farmer and producer organizations, and other non-state actors to drive progress across production, consumption, food loss, and waste. This partnership will work with over 15 leading CEOs and involve actors across each stage of the agriculture process, from production to consumption and finance.<\/p>\n<p><strong>AND- The EU could lose two of its top climate change negotiators ahead of COP28<\/strong> with the possible exits of Frans Timmermans and Spain\u2019s Climate Minister Teresa Ribera, <a href=\"https:\/\/www.reuters.com\/world\/europe\/eu-braces-possible-loss-two-climate-change-leaders-2023-07-24\/#:~:text=BRUSSELS%2C%20July%2024%20(Reuters),chief%20and%20Spain's%2520climate%2520minister.\">Reuters<\/a> reports. Timmermans, the European Commissioner tasked with climate and environment policies, is running as a candidate in Dutch national elections. If he secures the vote, he may have to give up his post as climate chief within the bloc as early as next month. Ribera\u2019s role is at risk after snap general elections last Sunday sent the country into political limbo with no clear majority. She has represented Spain at climate talks since 2018.<\/p>\n<hr class=\"grey-line\">\n<p><a class=\"content-anchor\" id=\"tldr-story-06\"><\/a> <strong>WATCH THIS SPACE #1- More want in on Egypt\u2019s SCZone\u2019s bunkering services:<\/strong> The Suez Canal Economic Zone (SCZone) received offers from two unnamed global firms for green methanol and gas bunkering services at affiliated ports, <a href=\"https:\/\/tinyurl.com\/39j84ecd\">Al Mal<\/a> reports, citing people it says have knowledge of the matter. They said the two offers will be reviewed in the coming period by the SCzone and relevant authorities tasked with issuing licenses. The SCZone could try to expand bidders for the sought licenses through inviting them to operate at local ports first and issue licenses for the most fitting later.<\/p>\n<p><strong>REMEMBER-<\/strong> Egypt <a href=\"https:\/\/enterprise.press\/stories\/2022\/10\/16\/suez-canal-to-launch-bunkering-catering-services-in-the-new-year-84021\/\">awarded four bunkering licenses<\/a> last year to Coral Energy, Minerva Bunkering, and Peninsula companies following a tender under an ambitious plan to become a one-stop ship shop.The SCZone <a href=\"https:\/\/enterprise.press\/stories\/2022\/01\/17\/suez-canal-targets-usd-7-bn-revenues-in-2022-62798\/\">first announced plans<\/a> to launch the new marine services in January 2022, as part of its 2020-2050 strategy.<\/p>\n<p><strong>All eyes on the canal next month:<\/strong> The world\u2019s first ever <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/00114f45-f0d5-4b3e-815f-02b64efa1a58\">green methanol-powered container<\/a><a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/00114f45-f0d5-4b3e-815f-02b64efa1a58\">ship<\/a> is set to pass through the Suez Canal next month, the sources said, adding that the SCZone was currently focusing on finalizing related executive procedures. They said the vessel will be refueled at a container terminal at East Port Said Port. The inaugural journey for the vessel leaving from South Korea to Denmark comes under a partnership <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/00114f45-f0d5-4b3e-815f-02b64efa1a58\">announced last month<\/a>between Dutch-based chemical producer OCI Global and Denmark\u2019s shipping giant AP Moller-Maersk.<\/p>\n<hr class=\"grey-line\">\n<p><strong>WATCH THIS SPACE #2- The UAE\u2019s <\/strong><strong><a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/abac6cf9-bb27-499b-bf1a-1e670c0c447c\">first locally produced electric motorcycle<\/a><\/strong> <strong>Sulmi EB-One<\/strong><strong> will hit roads within the next six months<\/strong>, Founder Rashid Al Salmi told <a href=\"https:\/\/www.zawya.com\/en\/business\/technology-and-telecom\/uaes-first-e-bike-to-hit-roads-in-less-than-6-months-says-emirati-developer-eu7cm8iq\">Zawya<\/a>. The EV company is looking to provide prototypes of the e-bike to logistics and delivery services firms in the UAE for trials before the bike is rolled out, Al Salmi says. The all-electric motorcycle \u2014 which has not yet been priced \u2014 packs a 10.4 KW battery, can cover 300 kilometers on a full charge, and has a 150 km\/h top speed.<\/p>\n<p class='web-image'><img decoding=\"async\" data-recalc-dims=\"1\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/7\/44.jpg?ssl=1\" alt='enterprise'><\/p>\n<p><strong>CIRCLE YOUR CALENDARS- The Enterprise Finance Forum is taking place on 18-19 September at the St. Regis Hotel in Cairo.<\/strong> This flagship forum is the latest in our must-attend series of invitation-only, C-suite-level gatherings that allow senior members of our community to openly and frankly discuss critical issues in key sectors of the economy.<\/p>\n<p><strong><a href=\"https:\/\/finance.enterprise.news\/\">TAP OR CLICK HERE<\/a><\/strong> if you want to express interest in attending. We\u2019ll be sending out the first batch of invitations soon.<\/p>\n<p><strong>Do you want to become a commercial partner?<\/strong> Ping a note to <a href=\"mailto:mtaalab@inktankir.com\">Moustafa Taalab, our head of commercial<\/a>, or fill out <a href=\"https:\/\/finance.enterprise.news\/sponsor.html\">this form<\/a> and we\u2019ll be in touch.<\/p>\n<hr class=\"grey-line\">\n<p><strong>DID YOU MISS THE ENTERPRISE EXPORTS AND FDI FORUM? <\/strong><strong><a href=\"https:\/\/podcasts.apple.com\/eg\/podcast\/the-enterprise-podcast\/id1617987136\">Tune in to the Enterprise Podcast and listen for yourself<\/a><\/strong><strong>:<\/strong> The Enterprise Podcast is back with another installment of our forum series, where we bring you audio recordings of what was said on stage at the Enterprise Exports and FDI Forum, which took place in May.<\/p>\n<p><strong>WANT TO LISTEN? Head to: <\/strong><a href=\"https:\/\/podcasts.apple.com\/eg\/podcast\/how-to-become-part-of-a-multinationals-supply-chain\/id1617987136?i=1000622000939\">Apple Podcast<\/a> | <a href=\"https:\/\/open.spotify.com\/episode\/57zbwQADGdOo5cMf37jSzM\">Spotify<\/a> | <a href=\"https:\/\/podcasts.google.com\/feed\/aHR0cHM6Ly93d3cub21ueWNvbnRlbnQuY29tL2QvcGxheWxpc3QvNWE1NmQ3YzMtZjI4MS00NTU3LThlMzEtYWFjODAxN2NjZjA2LzY4NmNmYTU5LTAwOTMtNDEyMS1hMTRjLWFlNmYwMDk3ZjEyMi81NDI0MGE5Ni04YWY5LTRkZGQtODExNi1hZTZmMDA5OTgxMzYvcG9kY2FzdC5yc3M\/episode\/MDUwOTc0ZGUtZGViOS00Zjc4LTliZGQtYjA0NzAxMGExMTUw?sa=X&ved=0CAUQkfYCahcKEwjA4YO_qKWAAxUAAAAAHQAAAAAQAQ\">Google Podcast<\/a> | <a href=\"https:\/\/play.anghami.com\/episode\/1118757834\">Anghami<\/a><strong>. We\u2019re releasing a new episode every Sunday morning.<\/strong><\/p>\n<p><strong>IN THIS WEEK\u2019S EPISODE- <\/strong>We ask some of the biggest multinationals and suppliers operating here \u2014 namely, in logistics, e-commerce, and FMCG \u2014 what it is they\u2019re looking for in a local partner, product or service and what are some of the pain points they\u2019ve had to cope with. We were joined on that panel by <strong>Khaled Morsy<\/strong>, CEO of DB Schenker Egypt,<strong> Omar Elsahy<\/strong>, General Manager at Amazon Egypt, <strong>Tarek Kame<\/strong>l, Chairman and CEO of Nestl\u00e9 Egypt and Sudan.<\/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>Sweden will host <\/strong><strong><a href=\"https:\/\/www.worldwaterweek.org\/\">World Water Week<\/a><\/strong><strong> from Sunday, 20 August to Wednesday, 24 August<\/strong> in Stockholm. Organized by the Stockholm International Water Institute, the event will bring together policy makers, NGOs, and private sector players to discuss innovative solutions to managing water and how to tackle food security, biodiversity, and climate change.<\/p>\n<p><strong>The US will host the <\/strong><strong><a href=\"https:\/\/crgconferences.com\/recycling\/\">International Conference on Recycling and Waste Management<\/a><\/strong><strong> and <\/strong><strong>the <\/strong><strong><a href=\"https:\/\/crgconferences.com\/environmental\/\">International Conference on Environmental Sustainability and Climate Change<\/a><\/strong><\/p>\n<p><strong>from Monday, 21 August till Tuesday, 22 August<\/strong> in Philadelphia. The waste management conference will gather environmental engineers, and recycling, wastewater treatment, and climate researchers to discuss trends and innovations in plastics recycling, wastewater treatment, and renewable energy. The sustainability and climate change conference will bring together researchers and industry leaders to spotlight innovations in environmental science, climatology, renewable energy, and pollution control.<\/p>\n<p><strong>The Dominican Republic will host the <\/strong><strong><a href=\"https:\/\/unfccc.int\/event\/tc3\">COP27 Transitional Committee<\/a><\/strong><strong>from Tuesday, 29 August to Friday, 1 September<\/strong>. The meeting aims to establish institutional arrangements, modalities, governance structures, and terms of reference for the landmark Loss and Damage Fund. It also wants to expand sources for climate funding under the program.<\/p>\n<p><strong><a href=\"https:\/\/enterprise.press\/am-edition\/#calendar\">Check out our full calendar on the web<\/a><\/strong> for a comprehensive listing of upcoming news events, national holidays and news triggers.<\/p><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/cop28\/\">COP28<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/egypt\/\">Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/evs\/\">EVs<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/green-methanol\/\">GREEN METHANOL<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/sczone\/\">SCzone<\/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=\"78642\" 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=\"78643\" 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=\"78643\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">2<\/div>\r\n\r\n                    <p class=\"f-graphik\">M&amp;A WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/climate\/2023\/07\/26\/egypts-military-affiliated-nspo-acquires-20-stake-in-taqa-arabia\/\">\r\n                            Egypt\u2019s military-affiliated NSPO acquires 20% stake in Taqa Arabia                        <\/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\/07\/26\/egypts-military-affiliated-nspo-acquires-20-stake-in-taqa-arabia\/\" 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 announcement, which disclosed both the buyer and seller, comes one day after one of the energy company\u2019s major shareholders <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4a46b8a4-6a75-493a-b837-f9a07b9cafad\">executed a block trade<\/a> on Monday and transferred the proceeds to one of its unnamed creditors.<\/p>\n<p><strong>What we know:<\/strong> The transaction, which was valued at EGP 1.63 bn, was executed on 270.4 mn shares at an average sale price of EGP 6.023 apiece, according to the statement, which disclosed both the buyer and seller\u2019s identities. It disclosed the seller as Silverstone Capital Investments \u2014 an entity controlled by Taqa Arabia parent company Qalaa Holdings \u2014 which will now hold a 29.1% stake in Taqa Arabia after the block transaction saw it selling its 20% stake in the company.<\/p>\n<p><strong>All part of a previous agreement:<\/strong> The transaction was executed as part of a sale and repurchase agreement between Taqa Arabia\u2019s main shareholders \u2014 Silverstone Capital Investments, Qalaa Holdings, and Citadel Capital Partners \u2014 and one of Qalaa\u2019s creditors, the statement showed. Details on the debt owed by Qalaa Holdings were not made public.<\/p>\n<p><strong>About NSPO:<\/strong> The NSPO is a military-affiliated entity operating in various sectors that include oil and gas, mining, food, agriculture and construction among others, according to its <a href=\"http:\/\/www.nspo.com.eg\/\">website<\/a>.<\/p>\n<p><strong>Qalaa can rewind:<\/strong> Per the agreement, Qalaa can buy back the shares within four years of the transaction, the statement said.<\/p>\n<p><strong>REMEMBER- <\/strong>Taqa Arabia\u2019s shares began trading on the EGX <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/41d67e8b-4427-475c-b038-6a7b19bbba31\">earlier this month<\/a> in what was seen as a <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/41d67e8b-4427-475c-b038-6a7b19bbba31\">disarrayed debut<\/a> following a technical listing. Silverstone Capital Investments has already offloaded its ownership in the company from 80% to 49% on its trading debut, selling shares to other major shareholders Financial Holdings Investments and Rimco EGT Investments.<\/p>\n<p><strong>Advisors:<\/strong> EFG Hermes quarterbacked the transaction, according to the statement.<\/p>\n<p><strong>Market reax:<\/strong> Taqa\u2019s shares dropped 3.8% yesterday to close at EGP 10.54 apiece.<\/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\/egx\/\">EGX<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/ma-watch\/\">M&amp;A WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/nspo\/\">NSPO<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/taqa-arabia\/\">TAQA 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=\"78645\" 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=\"78645\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/climate\/2023\/07\/26\/78645\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-78645\" class=\"content-area-description single-story post-78645 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=\"78646\" 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=\"78646\">\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\">DECARBONIZATION<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/climate\/2023\/07\/26\/three-uae-firms-are-targeting-renewable-energy-projects-at-indian-ports\/\">\r\n                            Three UAE firms are targeting renewable energy projects at Indian ports                        <\/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\/07\/26\/three-uae-firms-are-targeting-renewable-energy-projects-at-indian-ports\/\" 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\/07\/26\/three-uae-firms-are-targeting-renewable-energy-projects-at-indian-ports\/')\">\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\/07\/26\/three-uae-firms-are-targeting-renewable-energy-projects-at-indian-ports\/\">\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=Three UAE firms are targeting renewable energy projects at Indian ports&url=https:\/\/enterpriseam.com\/climate\/2023\/07\/26\/three-uae-firms-are-targeting-renewable-energy-projects-at-indian-ports\/\">\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\/07\/26\/three-uae-firms-are-targeting-renewable-energy-projects-at-indian-ports\/&title=Three UAE firms are targeting renewable energy projects at Indian ports\">\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=Three+UAE+firms+are+targeting+renewable+energy+projects+at+Indian+ports+https%3A%2F%2Fenterpriseam.com%2Fclimate%2F2023%2F07%2F26%2Fthree-uae-firms-are-targeting-renewable-energy-projects-at-indian-ports%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\/07\/26\/three-uae-firms-are-targeting-renewable-energy-projects-at-indian-ports\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/12\/279.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"78647\" data-permalink=\"https:\/\/enterpriseam.com\/climate\/2023\/07\/26\/three-uae-firms-are-targeting-renewable-energy-projects-at-indian-ports\/279-jpg-9\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/12\/279.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"279.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/12\/279.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/12\/279.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-78646\" class=\"content-area-description single-story post-78646 post type-post status-publish format-standard has-post-thumbnail hentry category-decarbonization tag-decarbonization tag-enterpriseclimate tag-india tag-renewables tag-solar-energy 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-02\"><\/a> <strong>UAE\u2019s Energia Verde to invest USD 18 mn in greenifying Indian ports<\/strong>: UAE-based real estate firm <a href=\"https:\/\/luxuryassets.ae\/\">Luxury Assets Real Estate<\/a> will invest INR 1.5 bn (c. USD 18.3 mn ) to greenify three of India\u2019s ports through Energia Verde, its newly formed JV with the UK\u2019s Sunshine Holdings, CEO Mohammed Adeel Shaikh told Enterprise Climate.<\/p>\n<p><strong>Where is the money going?<\/strong> The company\u2019s USD 18.3 mn investment will finance an ongoing collaboration with the Indian government aimed at decarbonizing three of the country\u2019s ports and implementing renewable energy sources and battery energy storage facilities for cranes, Shaikh said. The ports are located in Mumbai and the south and eastern regions of the country. A timeline for the operational launch of the projects was not disclosed.<\/p>\n<p><strong>About Energia Verde:<\/strong> The company aims to invest some AED 300 mn (c. USD 81.6 mn) in the next six months across the solar, wind energy, battery storage, and grid infrastructure sectors, according to Shaikh. Luxury Assets Real Estate \u2014 who also invests in the logistics sector \u2014 established Energia Verde in a bid to help decarbonize and optimize transportation and supply chain processes, Shaikh notes.<\/p>\n<p><strong>More in the pipeline:<\/strong> Energie Verde has a target to build a 3 GW solar energy plant in India\u2019s Rajasthan, as well as BESS facilities in India\u2019s Jammu and Kashmir with a combined 2 GW storage capacity. The company has so far invested AED 75 mn in India\u2019s clean energy sector, and plans to also invest in the Middle East and Europe, Shaikh tells us.<\/p>\n<p><strong>WAIT- They\u2019re not the only UAE firm greenifying Indian ports: <\/strong>UAE-based port and marine services company <a href=\"https:\/\/trotsolutions.com\/\">Trot Solutions<\/a> signed an MoU with US lithium-ion battery technology company <a href=\"https:\/\/www.chargecccv.com\/\">C4V<\/a> to develop renewable energy and storage solutions to power India\u2019s port activities, the <a href=\"https:\/\/www.ptinews.com\/news\/business\/us-based-c4v-joins-hands-with-uaes-trot-solutions-for-developing-green-ports-in-india\/615502.html\">Press Trust of India<\/a> news agency reports, citing a C4V statement. The timeline and investment cost of the project was not disclosed.<\/p>\n<p><strong>What we know:<\/strong> The agreement covers converting the existing ports into green facilities and jointly developing a \u201cstrong supply chain through C4V gigafactories,\u201d according to the statement. The two companies will also collaborate on research and development projects, and building renewable and battery storage facilities that will power all port equipment, including small vessels.<\/p>\n<p><strong>India is solidifying its MENA connections as it takes strides in the global energy <\/strong><strong>transition:<\/strong> Earlier this week, Indian renewable energy company Acme Group <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/036d760d-6405-4666-bc05-fc08cb3fd5c6\">secured an INR 40 bn<\/a> (c. USD 487.8 mn) loan from Indian infrastructure financial institution REC Limited for the green hydrogen and ammonia project it is building with Norway\u2019s Scatec in Oman. Last week, UAE President Mohamed bin Zayed Al Nahyan and India\u2019s Prime Minister Narendra Modi <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/32005262-97cd-45b2-8514-226b7637b32b\">agreed to boost cooperation<\/a> on renewables and green hydrogen. UAE\u2019s National Central Cooling Company (Tabreed) achieved its <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/05ca2fd9-0e73-4e69-b58a-41d22ecd7233\">first district cooling transaction in India<\/a> after signing an agreement with the real estate and infrastructure development arm of Indian conglomerate Tata Sons last May. An interconnection link between India and the Gulf could be <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/73bdc340-7f9c-4518-b78d-3f4344260307\">in the works<\/a> as India is considering linking its power grid to Saudi Arabia and the UAE through undersea cable. India\u2019s Adani Group is reportedly <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/b45de912-e322-4b2a-bf2b-88d4e1060db4\">planning to invest<\/a> in renewables projects with 10 GW capacity in Morocco to supply green ammonia to Europe.<\/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\/decarbonization\/\">decarbonization<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/india\/\">India<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/renewables\/\">renewables<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/solar-energy\/\">solar energy<\/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=\"78648\" 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=\"78648\">\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\">Newsmakers<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/climate\/2023\/07\/26\/a-conversation-with-mahmoud-mohieldin-effective-regulations-and-behavioral-change-are-necessary-in-the-fossil-fuel-showdown\/\">\r\n                            A conversation with Mahmoud Mohieldin: Effective regulations and behavioral change are necessary in the fossil fuel showdown                        <\/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\/07\/26\/a-conversation-with-mahmoud-mohieldin-effective-regulations-and-behavioral-change-are-necessary-in-the-fossil-fuel-showdown\/\" 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\/07\/26\/a-conversation-with-mahmoud-mohieldin-effective-regulations-and-behavioral-change-are-necessary-in-the-fossil-fuel-showdown\/')\">\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\/07\/26\/a-conversation-with-mahmoud-mohieldin-effective-regulations-and-behavioral-change-are-necessary-in-the-fossil-fuel-showdown\/\">\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 conversation with Mahmoud Mohieldin: Effective regulations and behavioral change are necessary in the fossil fuel showdown&url=https:\/\/enterpriseam.com\/climate\/2023\/07\/26\/a-conversation-with-mahmoud-mohieldin-effective-regulations-and-behavioral-change-are-necessary-in-the-fossil-fuel-showdown\/\">\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\/07\/26\/a-conversation-with-mahmoud-mohieldin-effective-regulations-and-behavioral-change-are-necessary-in-the-fossil-fuel-showdown\/&title=A conversation with Mahmoud Mohieldin: Effective regulations and behavioral change are necessary in the fossil fuel showdown\">\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+conversation+with+Mahmoud+Mohieldin%3A+Effective+regulations+and+behavioral+change+are+necessary+in+the+fossil+fuel+showdown+https%3A%2F%2Fenterpriseam.com%2Fclimate%2F2023%2F07%2F26%2Fa-conversation-with-mahmoud-mohieldin-effective-regulations-and-behavioral-change-are-necessary-in-the-fossil-fuel-showdown%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\/07\/26\/a-conversation-with-mahmoud-mohieldin-effective-regulations-and-behavioral-change-are-necessary-in-the-fossil-fuel-showdown\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/7\/1497.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"78649\" data-permalink=\"https:\/\/enterpriseam.com\/climate\/2023\/07\/26\/a-conversation-with-mahmoud-mohieldin-effective-regulations-and-behavioral-change-are-necessary-in-the-fossil-fuel-showdown\/1497-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/7\/1497.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1497.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/7\/1497.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/7\/1497.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-78648\" class=\"content-area-description single-story post-78648 post type-post status-publish format-standard has-post-thumbnail hentry category-newsmakers tag-carbon-offsetting tag-climate-change tag-cop28 tag-enterpriseclimate tag-mahmoud-mohieldin tag-newsmakers wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a id=\"tldr-story-03\" class=\"content-anchor\"><\/a><strong> The great fossil fuel debate: <\/strong>As COP28 nears, topics of a fossil fuel phasedown and emission cuts remain a debatable issue, with OPEC raising the big question: Should governments opt to limit oil demand to slash emissions instead of obliging producers to curb supply? The topic of having a fossil fuel phasedown itself has been contentious, with several major fossil fuel producing nations repeatedly blocking efforts to reach consensus on a phasedown to curb the impacts of climate change.<\/p>\n<p><strong>In this second part of our conversation, <\/strong>we speak with Mahmoud Mohieldin \u2014 Egypt\u2019s UN high-level climate champion at COP27, a special envoy for the UN secretary-general, and an executive director at the IMF \u2014 to discuss the fossil fuel phase out debate and what can be expected from COP28.<\/p>\n<p><strong>Did you miss part one of the conversation?<\/strong> <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/95e5d7e3-db69-4e6e-a81c-d28c4eef1ec6\">Tap or click here to read it.<\/a><\/p>\n<p><strong>Enterprise: <\/strong>There's a <a href=\"https:\/\/www.reuters.com\/sustainability\/tackle-demand-not-supply-cut-emissions-oil-bosses-say-2023-07-06\/\">big debate raised by OPEC<\/a> that governments should shift focus on limiting oil demand to slash emissions rather than pressuring producers to curb supply \u2014 do you think this is an effective strategy in the energy transition?<\/p>\n<p><strong>Mahmoud Mohieldin:<\/strong> In my opinion, it's not an either or question. What is required in the behavioral change is the following: I wouldn\u2019t go and accuse the supplier and forget the demand. We need to be aware of what\u2019s happening in countries in the South, including those who are producing oil and natural gas as a transitional source of energy. We are all basically one camp against a disaster that has existential risk against humanity, so what is needed for the change here is behavioral change by the consumers and the producers through strong incentives.<\/p>\n<p>We need to have effective regulations that should be applied to all without exceptions, along with good standards for dealing with emissions and an even better understanding of what investments based on ESG mean, which have been a really big debate in order to avoid greenwashing.<\/p>\n<p>Not to mention, we need adequate financing in place because all changes including altering patterns of production or decarbonization require finance. Dealing with carbon capture requires finance, shifting from coal to transitional energy sources like natgas or investing in renewables require finance. And there\u2019s been good progress this year, which <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/5fa5c964-149e-46b6-9c26-025fcc73b2e1\">marked the first time investments in renewables<\/a> exceeded investments in the traditional hydrocarbon sector.<\/p>\n<p><strong>E: <\/strong>Do you see fossil fuel phaseout or phasedown making its way on the COP28 agenda?<\/p>\n<p><strong>MM:<\/strong> Yes, I think it will. But It has always been there on the agenda, including COP27, despite some accusations that Egypt was focusing more on the holistic approach on loss and damage and on adaptation. COP27 didn\u2019t compromise work toward maintaining 1.5\u00b0C, there was more emphasis added on the implementation agenda, especially with the engagement of the private sector.<\/p>\n<p>I'm expecting more action on this topic from COP28 because it\u2019s no secret that the host country is one of the biggest hydrocarbon producers. I have seen some good indicators coming from the oil sector regarding an announcement of its 2050 carbon neutrality targets as soon as possible, what kind of investments they will be making, and how they can use their accumulated surplus to invest in other sources of energy including renewables and green hydrogen.<\/p>\n<p><strong>E: <\/strong>There's been growing concern of an influence of fossil fuel producers on the upcoming summit, will this impact the ability to continue with a successful agenda for the climate talks?<\/p>\n<p><strong>MM:<\/strong> Well, I think this is unfair because the COPs in the past have been hosted either in a major producing country or a major consumer country or even both. Glasgow, which has its location not far from the North Sea\u2019s oil resources, still did a good job in keeping the 1.5\u00b0C goal alive <a href=\"https:\/\/unfccc.int\/process-and-meetings\/the-paris-agreement\/the-glasgow-climate-pact-key-outcomes-from-cop26\">during COP26<\/a>.<\/p>\n<p>The Presidency and the host of COP are basically under the mandate of the UNFCCC. UAE is going to not only be a generous host, but also an effective one. The work is basically in the hands of negotiators, and 80% of emitters happen to be within the G20. If we see progress and some consensus during the G20 discussions in September, that\u2019s great news.<\/p>\n<p><strong>\u0650\u0650E: <\/strong> Do you believe disagreements on emission cuts and scaling up financing for developing countries in conferences preceding COP28 may lead to these issues failing to gain traction at the summit?<\/p>\n<p><strong>MM: <\/strong>There is no disagreement whatsoever on emissions reduction \u2014 the discussions at conferences like Bonn are clearly centered on how it can be delivered, how to shift from the high dependence on fossil fuel, how to pledge implementation, and determining the pathways that deliver this implementation. These are issues of high priority, and it\u2019s not enough to just set targets. It\u2019s very much about the three major means of implementation: Finance, issues related to technology, and regulatory frameworks.<\/p>\n<p>I would say that we shouldn't really be ignoring the<a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/b1ae5381-5a49-4358-b0c1-6b28a5b47eef\">importance of trade<\/a> as one of the areas of means of implementation. Trade can act as support to implementation or we leave it as it is today, with many restrictions on trade flows that don\u2019t support countries achieving their energy transition goals.<\/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-offsetting\/\">carbon offsetting<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/climate-change\/\">climate change<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/cop28\/\">COP28<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/mahmoud-mohieldin\/\">Mahmoud Mohieldin<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/newsmakers\/\">NEWSMAKERS<\/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=\"78650\" 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=\"78650\">\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\">CLIMATE IN THE NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/climate\/2023\/07\/26\/human-driven-climate-change-plays-an-absolutely-overwhelming-role-in-north-america-europe-and-china-heatwaves\/\">\r\n                            Human-driven climate change plays an \u201cabsolutely overwhelming\u201d role in North America, Europe, and China heatwaves                        <\/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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decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/7\/1499.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"78651\" data-permalink=\"https:\/\/enterpriseam.com\/climate\/2023\/07\/26\/human-driven-climate-change-plays-an-absolutely-overwhelming-role-in-north-america-europe-and-china-heatwaves\/1499-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/7\/1499.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1499.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/7\/1499.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/7\/1499.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-78650\" class=\"content-area-description single-story post-78650 post type-post status-publish format-standard has-post-thumbnail hentry category-climate-in-the-news tag-algeria tag-china tag-climate-change tag-climate-in-the-news tag-enterpriseclimate tag-europe tag-north-america 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> Human-induced climate change has played an \u201cabsolutely overwhelming\u201d role in <\/strong><strong>extreme <\/strong><strong>heatwaves<\/strong><strong> across <\/strong><strong><a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/2a0803b0-c5b7-40b1-8b8c-6250216848e1\">North America, Europe and China<\/a><\/strong><strong> this month<\/strong>, <a href=\"https:\/\/www.reuters.com\/world\/climate-change-role-july-heatwaves-overwhelming-scientists-say-2023-07-25\/\">Reuters<\/a> reports, citing a new scientific <a href=\"https:\/\/ent.news\/2023\/7\/1498.pdf\">report (pdf)<\/a> published by the World Weather Attribution. Without human-induced climate change, the events this month would have been \u201cextremely rare,\u201d the study concluded. \u201cEuropean and North American temperatures would have been virtually impossible without the effects of climate change,\u201d one of the study\u2019s authors and researchers at the Royal Netherlands Meteorological Institute Izidine Pinto told journalists, adding that for China \u201cit was around 50 times more likely to happen compared to the past.\u201d<\/p>\n<p><strong>How much heat are we talking?<\/strong> The World Weather Attribution team estimated that rising greenhouse gas concentrations made the European heatwave 2.5\u00b0C hotter than it would have been otherwise. Increased global emissions also drove up North America\u2019s heatwave by 2\u00b0C and China\u2019s by 1\u00b0C. While the <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/680f2e7e-93a5-401f-8562-ffdd0456b34b\">start of the El Ni\u00f1o<\/a> phenomenon likely contributed to the increased extreme temperatures, rising greenhouse gasses were the major factor driving the scorching weather.<\/p>\n<p><strong>Our region is not spared: <\/strong>Heatwaves in North Africa have sparked a series of wildfires across Algeria that have left 34 dead, <a href=\"https:\/\/www.reuters.com\/world\/africa\/wildfires-kill-15-algeria-heatwave-hits-north-africa-2023-07-24\/#:~:text=ALGIERS%2C%20July%2024%20(Reuters),north%20Africa%20and%20southern%20Europe.\">Reuters<\/a> reports. Some 8k firefighters were called on to battle the raging flames and bring them under control in Boumerdes, Bouira, Tizi Ouzou, Jijel, Bejaia and Skikda regions. So far 1.5k people have been evacuated from their homes.<\/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\/algeria\/\">Algeria<\/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\/climate-change\/\">climate change<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/climate-in-the-news\/\">CLIMATE IN THE NEWS<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/europe\/\">Europe<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/north-america\/\">North America<\/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=\"78652\" 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=\"78652\">\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\/07\/26\/world-bank-extends-usd-350-mn-loan-to-morocco-for-water-security-uaes-mubadala-is-exploring-ccus-projects-in-indonesia\/\">\r\n                            World Bank extends USD 350 mn loan to Morocco for water security + UAE\u2019s Mubadala is exploring CCUS projects in Indonesia                        <\/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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        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/3\/World-Bank-1600.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"78653\" data-permalink=\"https:\/\/enterpriseam.com\/climate\/2023\/07\/26\/world-bank-extends-usd-350-mn-loan-to-morocco-for-water-security-uaes-mubadala-is-exploring-ccus-projects-in-indonesia\/world-bank-1600-jpg-2\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/3\/World-Bank-1600.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"World-Bank-1600.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/3\/World-Bank-1600.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/3\/World-Bank-1600.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-78652\" class=\"content-area-description single-story post-78652 post type-post status-publish format-standard has-post-thumbnail hentry category-also-on-our-radar tag-also-on-our-radar tag-ccus tag-climate-change tag-enterpriseclimate tag-morocco tag-uae tag-water-security 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> World Bank supports Morocco\u2019s water security efforts with USD 350 mn loan:<\/strong> The World Bank Group\u2019s board of directors approved a USD 350 mn loan to Morocco in support of the country\u2019s National Program for Potable Water Supply and Irrigation, according to a <a href=\"https:\/\/www.worldbank.org\/en\/news\/press-release\/2023\/07\/24\/new-world-bank-program-in-morocco-supports-efforts-to-boost-water-security-and-resilience-for-all\">statement<\/a>. The program would require <a href=\"https:\/\/www.maroc.ma\/en\/content\/national-drinking-water-supply-and-irrigation-program-pnaepi-2020-2027\">investments to the tune of MAD 143 bn<\/a> (c. USD 14.6 bn) to mobilize financing in Morocco\u2019s water sector in a bid to strengthen the country\u2019s climate resilience. The World Bank says its green loan comes at a critical time as Morocco grows more vulnerable to droughts on the back of climate change, noting the country is approaching the absolute water scarcity threshold of 500 cubic meter (cbm) per capita per year. Water inflows have declined in the country from 2.5k cbm per capita annually in 1960 to 620 cbm in 2020, placing Morocco in a situation of structural water stress, the bank <a href=\"https:\/\/www.worldbank.org\/en\/news\/feature\/2023\/03\/10\/morocco-country-climate-development-report-an-example-in-parliamentary-engagement#:~:text=Water%20inflows%20have%20been%20declining,absolute%20water%20scarcity%20threshold%20of\">notes<\/a>.<\/p>\n<p><strong>REMEMBER- Droughts threaten North Africa\u2019s water and food security:<\/strong> An acute drop in precipitation levels owing to climate-induced droughts and warm winters <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/f6479cae-8088-4aa8-92dd-8f4d017ec88d\">is affecting soil moisture and river flows<\/a> in the majority of cereal-growing centers in Morocco, Algeria, and Tunisia, with wheat yield potentials expected to plunge between 15-24% compared to the last five-year average in the three countries. Barley potentials are also expected to drop between 10-30% below 2017-2022 averages in the region.<\/p>\n<hr class=\"grey-line\">\n<p><a class=\"content-anchor\" id=\"tldr-story-04\"><\/a><strong> Mubadala is exploring CCUS projects in Indonesia:<\/strong> Abu Dhabi\u2019s Mubadala Energy and Indonesian state-owned energy company Pertamina have signed an MoU to explore opportunities in carbon capture, utilization and storage (CCUS) projects in Indonesia, <a href=\"https:\/\/www.wam.ae\/en\/details\/1395303180617\">Wam<\/a> reports. The partnership will see the companies conduct joint studies and evaluations for potential carbon storage projects in Pertamina\u2019s and Mubadala Energy\u2019s existing portfolio of assets in Indonesia. The agreement also aims to facilitate knowledge exchange between the two companies.<\/p>\n<p><strong>Pertamina is collaborating with other companies in the region:<\/strong> In February, Emirati renewables giant Masdar announced it has <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/c0e6a33d-90d1-43dd-93ef-aa4e29a5d598\">acquired shares<\/a> in the geothermal unit of Indonesia\u2019s state-owned energy firm Pertamina. The value and size of the stake were not disclosed at the time. Last November Saudi Aramco <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/cba08bb5-b4ea-430f-bece-7058a5a9db2a\">signed an agreement<\/a> with Pertamina to individually conduct feasibility studies on the creation of a hydrogen and ammonia value chain in Indonesia.<\/p>\n<p><strong>And Mubadala is developing a carbon market:<\/strong> Mubadala Investment Company \u2014 Mubadala Energy\u2019s mother company \u2014 <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/0a1e7ed6-2e80-4307-920c-831186731106\">secured an undisclosed stake<\/a> in Singapore-based carbon trading exchange AirCarbon Exchange last November. Bloomberg estimated the purchased shares to be at least 20% of AirCarbon. Last month an alliance was launched in partnership with AirCarbon Exchange, Mubadala Investment Company, amongst other big banks and energy companies to <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/e2f2016c-930f-4150-83e4-11d44182e14f\">establish a framework for carbon markets<\/a>. South Korean telecoms group SK Group has also <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/46b0844f-9354-4350-a963-6d0972cb1062\">signed a partnership<\/a> agreement with Mubadala to set up a voluntary carbon market in Asia.<\/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\/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\/ccus\/\">CCUS<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/climate-change\/\">climate change<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/morocco\/\">Morocco<\/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\/water-security\/\">Water security<\/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=\"78654\" 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=\"78654\">\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\/07\/26\/uks-octopus-energy-plans-to-invest-usd-20-bn-in-offshore-wind-ifc-makes-first-investment-in-lithium\/\">\r\n                            UK\u2019s Octopus Energy plans to invest USD 20 bn in offshore wind + IFC makes first investment in lithium                        <\/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\/07\/26\/uks-octopus-energy-plans-to-invest-usd-20-bn-in-offshore-wind-ifc-makes-first-investment-in-lithium\/\" 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\/07\/26\/uks-octopus-energy-plans-to-invest-usd-20-bn-in-offshore-wind-ifc-makes-first-investment-in-lithium\/')\">\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\/07\/26\/uks-octopus-energy-plans-to-invest-usd-20-bn-in-offshore-wind-ifc-makes-first-investment-in-lithium\/\">\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=UK\u2019s Octopus Energy plans to invest USD 20 bn in offshore wind + IFC makes first investment in lithium&url=https:\/\/enterpriseam.com\/climate\/2023\/07\/26\/uks-octopus-energy-plans-to-invest-usd-20-bn-in-offshore-wind-ifc-makes-first-investment-in-lithium\/\">\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\/07\/26\/uks-octopus-energy-plans-to-invest-usd-20-bn-in-offshore-wind-ifc-makes-first-investment-in-lithium\/&title=UK\u2019s Octopus Energy plans to invest USD 20 bn in offshore wind + IFC makes first investment in lithium\">\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=UK%E2%80%99s+Octopus+Energy+plans+to+invest+USD+20+bn+in+offshore+wind+%2B+IFC+makes+first+investment+in+lithium+https%3A%2F%2Fenterpriseam.com%2Fclimate%2F2023%2F07%2F26%2Fuks-octopus-energy-plans-to-invest-usd-20-bn-in-offshore-wind-ifc-makes-first-investment-in-lithium%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\/07\/26\/uks-octopus-energy-plans-to-invest-usd-20-bn-in-offshore-wind-ifc-makes-first-investment-in-lithium\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/6\/141.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"78655\" data-permalink=\"https:\/\/enterpriseam.com\/climate\/2023\/07\/26\/uks-octopus-energy-plans-to-invest-usd-20-bn-in-offshore-wind-ifc-makes-first-investment-in-lithium\/141-jpg-6\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/6\/141.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"141.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/6\/141.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/6\/141.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-78654\" class=\"content-area-description single-story post-78654 post type-post status-publish format-standard has-post-thumbnail hentry category-around-the-world tag-around-the-world tag-enterpriseclimate tag-evs tag-ifc tag-renewables tag-wind-energy wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>UK-based renewables investor <\/strong><strong><a href=\"https:\/\/www.octopusenergygeneration.com\/\">Octopus Energy Generation<\/a><\/strong> <strong>will earmark USD 20 <\/strong><strong>bn by the end of the decade to fund offshore wind energy projects globally<\/strong>, according to a <a href=\"https:\/\/octopus.energy\/press\/making-waves-octopus-energy-to-unleash-20bn-of-investment-in-offshore-wind-by-2030\/\">statement<\/a>. The investment will be channeled toward generating 12 GW of clean energy annually, the company notes, adding that it has several agreements in the pipeline and would fund projects that are either currently under construction or ones already operational. The company manages some USD 7.7 bn worth of green energy globally, investing in renewables projects including the <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/93dd0ba0-81cd-481c-b792-00590a24b3bf\">Xlinks Morocco-UK Power Project<\/a> and the 1.2 GW offshore <a href=\"https:\/\/orsted.co.uk\/energy-solutions\/offshore-wind\/our-wind-farms\/hornsea1\">Hornsea One<\/a> wind energy project, which is one of the world\u2019s largest offshore wind assets. Since entering the offshore wind power market in 2022, Octopus has sealed five project agreements worth USD 1 bn, it notes in its statement.<\/p>\n<p><strong>The International Finance Corporation (IFC) will extend a USD 180 mn green loan <\/strong><strong>to mining company <\/strong><strong><a href=\"https:\/\/www.allkem.co\/\">Allkem<\/a><\/strong> <strong>to support its lithium mining project in Argentina<\/strong>, according to a <a href=\"https:\/\/pressroom.ifc.org\/all\/pages\/PressDetail.aspx?ID=27680\">statement<\/a>. This marks the first investment by the lender in the lithium production sector and the first time a greenfield mining project\u2019s funding has been structured as a sustainability-linked loan, the statement notes. The project is expected to annually produce 15k tons of lithium carbonate equivalent in its first stage. The IFC will provide a credit facility totaling USD 100 mn from its own account for the project, an additional USD 30 mn in mobilization, and is expected to arrange a parallel loan of up to USD 50 mn to finance the mining operation, it said.<\/p>\n<p><strong>REMEMBER- Lithium is a <\/strong><strong><a href=\"https:\/\/afdc.energy.gov\/vehicles\/electric_batteries.html#:~:text=Most%20of%20today's%2520all%252Delectric,that%2520of%2520consumer%2520electronics%2520batteries.\">necessary component<\/a><\/strong><strong> for EV battery production and <\/strong><strong>electronics. <\/strong>Several countries in the region have been <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/e05b5245-4c68-48ec-a31d-55a21e395d42\">doubling down<\/a> on mining efforts in a bid to meet rising demand for the mineral, which is among several green metals essential for the energy transition. The International Energy Agency (IEA) expects the supply of lithium <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/d4ad8a2e-befa-4a9e-94cb-0e5237f6f492\">will reach 420k metric tons by 2030<\/a>, which is still well below the required increase by 2030 of 702k tons to realize a net-zero scenario by 2050.<\/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\/around-the-world\/\">AROUND THE WORLD<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/evs\/\">EVs<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/ifc\/\">IFC<\/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\/wind-energy\/\">Wind Energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"78656\" 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=\"78656\">\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\/07\/26\/uae-students-create-a-solar-powered-driverless-vehicle-in-sustainability-push\/\">\r\n                            UAE students create a solar-powered driverless vehicle in sustainability push                        <\/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\/07\/26\/uae-students-create-a-solar-powered-driverless-vehicle-in-sustainability-push\/\" 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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Another team was tasked with supplying power to the installed electronic devices through a PV panel on the roof to charge the traction battery to supply a 60-volt power supply.<\/p>\n<p><strong>UAE eyes being a pioneer in autonomous mobility:<\/strong> The UAE granted its first national license for self-driving vehicles to China\u2019s WeRide earlier this month \u2014 a first in the Middle East and \u201ceven globally,\u201d according to a <a href=\"https:\/\/www.weride.ai\/posts\/75\">statement<\/a>. The license grants WeRide the right to conduct various road testing and operations of self-driving vehicles in the country.<\/p>\n<p><strong>All under an ambitious plan:<\/strong> Dubai aims to have 25% of its transportation achieve fully autonomous operations by 2030, <a href=\"https:\/\/www.thenationalnews.com\/business\/technology\/2023\/07\/09\/uae-pushes-ahead-with-autonomous-vehicle-adoption-as-it-grants-first-self-driving-licence\/\">according to officials<\/a>. In June, the Integrated Transport Centre (ITC) in Abu Dhabi allowed visitors to the city\u2019s Saadiyat Island and Yas Island to <a href=\"https:\/\/www.weride.ai\/posts\/75\">experience the technology<\/a> through a model branded \u201cTXAI\u201d which was launched between WeRide and local firm Bayanat.<\/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\/autonomous-vehicles\/\">autonomous vehicles<\/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\/self-driving-vehicles\/\">Self-driving vehicles<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/solar-energy\/\">solar energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"78658\" 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\/07\/26\/78658\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-78658\" class=\"content-area-description single-story post-78658 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>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>21-22 August (Monday-Tuesday): <a href=\"https:\/\/crgconferences.com\/recycling\/\">International Conference on Recycling and Waste Management<\/a>, USA.<\/p>\n<p>21-22 August (Monday-Tuesday): <a href=\"https:\/\/crgconferences.com\/environmental\/\">International Conference on Environmental Sustainability and Climate Change<\/a>, USA.<\/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>, Dominican Republic.<\/p>\n<p><strong>SEPTEMBER 2023<\/strong><\/p>\n<p>4-6 September (Monday-Wednesday): <a href=\"https:\/\/saudi-smic.com\/\">Sustainable Maritime Industry Conference<\/a>, Jeddah, Saudi Arabia.<\/p>\n<p>4-6 September (Monday-Wednesday): <a href=\"https:\/\/africaclimatesummit.org\/\">Africa Climate Summit<\/a>, Nairobi, Kenya.<\/p>\n<p>5-7 September (Tuesday-Thursday): <a href=\"https:\/\/www.gweccc.com\/assets\/PDF\/GWECCC%202023_EVENT%20BROCHURE.pdf\">Global Water, Energy and Climate Change Congress<\/a>(GWECCC), Manama, Bahrain.<\/p>\n<p>9-10 September (Saturday-Sunday): <a href=\"https:\/\/www.g20.org\/en\/g20-india-2023\/new-delhi-summit\/\">G20 Heads of State and Government Summit<\/a>, New Delhi, India.<\/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>18-19 September (Monday-Tuesday): <a href=\"https:\/\/finance.enterprise.news\/\">The Enterprise Finance Forum<\/a>, Cairo, Egypt.<\/p>\n<p>19-21 September (Tuesday-Thursday): <a href=\"https:\/\/www.worldptxsummit.com\/\">World Power-to-X Summit<\/a>, Marrakesh, Morocco.<\/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>Egypt set to <a href=\"https:\/\/bit.ly\/3MTNCjG\">launch alliance<\/a> to shore up climate financing in developing countries<\/p>\n<p><strong>OCTOBER 2023<\/strong><\/p>\n<p>4 October (Wednesday): Arabia CSR Gala Awarding Ceremony, UAE.<\/p>\n<p>4-5 October (Wednesday-Thursday): <a href=\"https:\/\/www.futuresustainabilityforum.com\/\">Future Sustainability Forum<\/a>, Dubai, UAE.<\/p>\n<p>8-10 October (Sunday-Tuesday): <a href=\"https:\/\/www.sgbf.sa\/\">Saudi Green Building Forum<\/a>, Riyadh, Saudi Arabia.<\/p>\n<p>8-12 October (Sunday-Thursday): <a href=\"https:\/\/unfccc.int\/MENACW2023\">MENA Climate Week<\/a>, Riyadh, Saudi Arabia.<\/p>\n<p>9-15 October (Monday-Sunday): <a href=\"https:\/\/www.imf.org\/en\/News\/Seminars\/Campaigns\/2023\/Marrakech2023\">World Bank\/IMF 2023 Annual Meetings<\/a>, Marrakech, Morocco.<\/p>\n<p>10-12 October (Tuesday-Thursday): <a href=\"https:\/\/aemobforum.com\/\">Autonomous E-Mobility Forum<\/a>, Doha, Qatar.<\/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>18-20 October (Wednesday-Friday): <a href=\"https:\/\/www.atalayar.com\/en\/articulo\/economy-and-business\/morocco-and-belgium-will-hold-business-meeting-on-green-hydrogen-in-october\/20230719115701188407.html\">Morocco and Belgium business meeting on green hydrogen<\/a>, Tangiers, Morocco.<\/p>\n<p>17-18 October (Tuesday- Wednesday): <a href=\"https:\/\/criticalmineralsafrica.com\/\">Critical Minerals Africa Summit<\/a>, Cape Town, South Africa.<\/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>9-15 November (Thursday-Wednesday): <a href=\"https:\/\/www.intrafricantradefair.com\/\">Intra-African Trade Fair 2023<\/a>, Cairo, Egypt.<\/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>16-17 November (Thursday-Friday): <a href=\"https:\/\/www.dwtc.com\/en\/events\/world-green-economy-summit-wges-2023\/\">World Green Economy Summit (WGES)<\/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>20-24 November (Monday-Friday) I<a href=\"https:\/\/wam.ae\/en\/details\/1395303172305\">nternational Civil Aviation Organisation\u2019s Aviation and Alternative Fuels conference<\/a>, Dubai, UAE.<\/p>\n<p>27-30 November (Monday-Thursday) <a href=\"https:\/\/twitter.com\/ADGlobalMarket\/status\/1672228350046224384\">Abu Dhabi Finance Week (ADFW)<\/a>, Abu Dhabi, UAE.<\/p>\n<p>30 November - 12 December (Thursday-Tuesday): <a href=\"https:\/\/unfccc.int\/\">Conference of the Parties (COP 28)<\/a>, Dubai, UAE.<\/p>\n<p><strong>DECEMBER 2023<\/strong><\/p>\n<p>12-14 December (Tuesday-Thursday): <a href=\"https:\/\/www.facebook.com\/ghseoman\/\">Green Hydrogen Summit Oman<\/a>, Oman Convention and Exhibition Center, Muscat, Oman.<\/p>\n<p>18-20 December (Monday-Wednesday): <a href=\"https:\/\/saudi-sg.com\/en\/\">Saudi Arabia Smart Grid Conference<\/a>, Hilton Riyadh Hotel & Residences, Riyadh, Saudi Arabia.<\/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>APRIL 2024<\/strong><\/p>\n<p>16-18 April (Tuesday-Thursday): <a href=\"https:\/\/www.worldfutureenergysummit.com\/\">World Future Energy Summit<\/a>, Abu Dhabi, UAE.<\/p>\n<p>23-25 April (Tuesday-Thursday): <a href=\"https:\/\/www.mena.gh2events.com\/\">Connecting Green Hydrogen MENA<\/a>, Dubai, UAE.<\/p>\n<p><strong>EVENTS WITH NO SET DATE<\/strong><\/p>\n<p><strong>2023 <\/strong><\/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><a href=\"https:\/\/www.iucn.org\/our-union\/iucn-world-conservation-congress\">International Union for Conservation of Nature World Conservation Congress<\/a>, Abu Dhabi, UAE.<\/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><a href=\"https:\/\/uitpsummit.org\/\">UITP Global Public Transport Summit<\/a>, Dubai, UAE.<\/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":78639,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-78638","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"b3396d5a-e20c-49e5-8f62-002f77164e8e","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>Egypt\u2019s military-affiliated NSPO acquires 20% stake in Taqa Arabia - Climate<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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