{"id":78950,"date":"2023-08-14T01:00:49","date_gmt":"2023-08-14T01:00:49","guid":{"rendered":"https:\/\/enterpriseam.com\/climate\/?post_type=issue&#038;p=78950"},"modified":"2025-12-15T09:23:33","modified_gmt":"2025-12-15T09:23:33","slug":"masdar-snaps-up-bid-to-build-1-8-gw-sixth-phase-of-uaes-al-maktoum-solar-park","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/climate\/issues\/masdar-snaps-up-bid-to-build-1-8-gw-sixth-phase-of-uaes-al-maktoum-solar-park\/","title":{"rendered":"Masdar snaps up bid to build 1.8 GW sixth phase of UAE\u2019s Al Maktoum solar park"},"content":{"rendered":"<section id=\"78952\" 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=\"78952\">\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\/08\/14\/today-masdar-beats-acwa-power-in-a-bid-to-build-and-operate-the-sixth-phase-of-al-maktoum-solar-park\/\">\r\n                            TODAY: Masdar beats Acwa Power in a bid to build and operate the sixth phase of Al Maktoum solar park                        <\/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\/08\/14\/today-masdar-beats-acwa-power-in-a-bid-to-build-and-operate-the-sixth-phase-of-al-maktoum-solar-park\/\" 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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Shall we?<\/p>\n<p><strong>THE BIG CLIMATE STORIES-<\/strong> The Dubai Electricity and Water Authority has selected the UAE\u2019s Masdar to build and operate the 1.8 GW sixth phase of the Mohammed bin Rashid Al Maktoum solar park beating Saudi Arabia\u2019s Acwa Power for the bid, and UAE\u2019s Tabreed will sell 50% of its ownership in subsidiary Tabreed Parks Investments to a DH Investments\u2019 subsidiary for AED 99.8 mn.<\/p>\n<p><strong>^^ We have more details on these stories and more in the news well, below. <\/strong><\/p>\n<p><strong>HAPPENING TODAY- The world\u2019s first liquefied hydrogen carrier will be berthing <\/strong><strong>in Oman today:<\/strong> The world\u2019s first liquefied hydrogen carrier, Suiso Frontier, is set to arrive at Oman\u2019s Sultan Qaboos Port in Muscat today, <a href=\"https:\/\/www.omanobserver.om\/article\/1141383\/business\/energy\/worlds-first-liquefied-hydrogen-carrier-in-oman-on-monday\">Oman Daily Observer<\/a> reports. The Kawasaki Heavy Industries (KHI) manufactured vessel, which is Oman-bound following its departure from Abu Dhabi, is making its first visit to the Gulf country. The ship\u2019s main mission is to introduce the Japanese technology for hydrogen transportation, pursue cooperation for the transportation of hydrogen, and establish global supply chains, according to the media outlet.<\/p>\n<p><strong>ALSO-<\/strong> We\u2019re hearing whispers that 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 today. Stay tuned for more details in tomorrow\u2019s issue.<\/p>\n<hr class=\"grey-line\">\n<p><strong>THE BIG CLIMATE STORY OUTSIDE THE REGION- Disaster in Maui:<\/strong> The death toll from Maui wildfires in Hawaii has killed 93 people, making it the deadliest wildfire in US history in over 100 years. The death toll is likely to rise as dogs trained to detect bodies continue to sweep the ruins of the historic town of Lahaina, according to officials. Rebuilding Lahaina would cost c. USD 5.5 bn, according to the Federal Emergency Management Agency (FEMA), with over 2.2k structures suffering damages or destroyed and over 2.1k acres burned. Scientists believe the deadly wildfires were aggravated by several factors including climate change, with soaring global temperatures and drought turning some parts of Hawaii into a tinderbox on the back of powerful winds from a nearby cyclone.<\/p>\n<p><strong>Maui dominated coverage in the international press over the weekend: <\/strong><a href=\"https:\/\/www.reuters.com\/world\/us\/death-toll-maui-fires-hits-least-80-damages-billions-dollars-2023-08-12\/\">Reuters<\/a> | <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-08-13\/maui-wildfire-is-deadliest-for-us-in-105-years-with-89-killed\">Bloomberg<\/a> | <a href=\"https:\/\/apnews.com\/article\/maui-hawaii-lahaina-deadliest-wildfire-fb2ebf6cd39c149a582b82eed6ac3930\">The Associated Press<\/a> | <a href=\"https:\/\/www.ft.com\/content\/cf68fa51-a5d3-45a3-880e-6ddb25d6bfdb\">The Financial Times<\/a> | <a href=\"https:\/\/www.theguardian.com\/us-news\/2023\/aug\/11\/hawaii-fires-made-more-dangerous-by-climate-crisis\">The Guardian<\/a> | <a href=\"https:\/\/www.nytimes.com\/live\/2023\/08\/13\/us\/maui-wildfires-hawaii-news?smtyp=cur&smid=tw-nytimes\">The New York Times<\/a>| <a href=\"https:\/\/www.washingtonpost.com\/weather\/2023\/08\/13\/maui-fire-deaths-hawaii-wildfires-lahaina\/\">Washington Post<\/a> | <a href=\"https:\/\/www.wsj.com\/articles\/as-maui-fires-leave-at-least-80-dead-some-residents-return-a3b7d2a4\">The Wall Street Journal<\/a><\/p>\n<p><strong>OVER IN COPLAND-<\/strong> <strong>COP28 President-Designate Sultan Al Jaber was in Barbados <\/strong><strong>over the weekend to meet with Prime Minister and climate champion Mia Mottley<\/strong>, <a href=\"https:\/\/wam.ae\/en\/details\/1395303185837\">Wam<\/a> reported on Friday. During his visit, Al Jaber gave a speech to the leaders of the Caribbean Community (CARICOM), where he reiterated the importance of closing the global climate finance gap, while praising <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/2b42c6f9-fd08-4890-9d03-c6e4ccee0eea\">Mottley\u2019s Bridgetown Initiative<\/a> which presents ways to reduce \u201cexcessive risks\u201d that developing countries have to take to borrow to fund green investments. During his speech, Al Jaber said that he has called on donor countries to \u201cshow him the money\u201d when it comes to the long overdue USD 100 bn annual climate finance pledge that developed countries have promised developing economies.<\/p>\n<p><strong>UAE-Caribbean climate cooperation is growing:<\/strong> Masdar is set to drive 16 renewable energy projects across CARICOM through its <a href=\"https:\/\/masdar.ae\/-\/media\/corporate\/projects\/downloads\/uae-carribean-energy-fund\/caribbean.pdf\">UAE-Caribbean Renewable Energy Fund<\/a>, the company <a href=\"https:\/\/twitter.com\/Masdar\/status\/1689902061549236224\">said<\/a>. However, Al Jaber noted that the cost of capital is proving a stumbling block to progress the renewables projects between the two countries.<\/p>\n<p><strong>ALSO- Al Jaber praised Brazilian President Luiz Inacio Lula da Silva for his policies <\/strong><strong>prioritizing indigenous peoples on the closing day of the <\/strong><strong><a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/34ebd707-5680-4a45-b875-9d7f0fe821a1\">Amazon rainforest summit<\/a><\/strong>, adding the policies serve as a blueprint for other regions, <a href=\"https:\/\/wam.ae\/en\/details\/1395303185430\">Wam<\/a> reported last week. \u201cWe will build on the experience and the lessons that the Amazon Cooperation Treaty Organisation and Indigenous Peoples can teach us in advancing the dual goal of protecting and restoring nature, while advancing sustainable development,\u201d Al Jaber said, adding that although indigenous communities represent 5% of the world\u2019s population, they protect over 80% of biodiversity.<\/p>\n<hr class=\"grey-line\">\n<p><strong>FROM THE DEPT OF GOOD NEWS- <\/strong><strong>FSO Safer is nearly cleared: <\/strong>A UN-led salvage operation to remove over 1 mn barrels of crude oil from the rusting supertanker FSO Safer has nearly finished, according to a <a href=\"https:\/\/news.un.org\/en\/story\/2023\/08\/1139687\">UN press release<\/a>. The 47-year-old FSO Safer was abandoned off the coast of Yemen at the start of the country\u2019s civil war in 2015, and was at risk of leaking, breaking apart, or exploding, resulting in \u201ccatastrophic environmental and humanitarian consequences,\u201d the UN said. A UN salvage team has been unloading the oil from Safer onto a replacement oil tanker The Nautica <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/eab1e711-5b0f-45ff-9953-8b75edf40b4c\">since late July<\/a> in an operation costing USD 140 mn. Less than 2% remains of the 1.1 mn barrels of oil that were on the tanker. Some USD 20 mn is required to complete the operation, the UN said.<\/p>\n<p><strong>WATCH THIS SPACE #1- <\/strong><strong>Egypt\u2019s GAFI \u2764\ufe0f investors:<\/strong> Egypt\u2019s General Authority for Freezones and Investment (GAFI) has done away with some of the paperwork required by companies for a number of post-incorporation services under efforts to \u201cimprove the investment environment\u201d by streamlining procedures, it said in a <a href=\"https:\/\/tinyurl.com\/yb3ff2vf\">statement<\/a> on Friday. Some of the documents no longer needed for submission include those related to nominating board members, holding board meetings, appointing auditors, and reporting the death of partners or shareholders. The move comes a week after it <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/959e81e4-92a2-4a6a-98a1-3d18292fe523\">began operating its new digital platform<\/a>, which provides investors with services to establish companies, authenticate contracts at notary offices, and register using electronic signatures, among other services.<\/p>\n<p><strong>WATCH THIS SPACE #2-<\/strong> <strong>Jordan will launch a new long-term energy strategy in 2024<\/strong>, <a href=\"https:\/\/alghad.com\/Section-210\/%D8%A7%D9%84%D8%A7%D9%82%D8%AA%D8%B5%D8%A7%D8%AF-%D8%A7%D9%84%D9%85%D8%AD%D9%84%D9%8A\/%D8%A7%D9%84%D8%B7%D8%A7%D9%82%D8%A9-%D8%A7%D9%84%D9%85%D8%AA%D8%AC%D8%AF%D8%AF%D8%A9-%D8%A3%D8%B3%D8%A7%D8%B3-%D8%AA%D8%AD%D8%AF%D9%8A%D8%AB-%D8%A7%D9%84%D8%A5%D8%B3%D8%AA%D8%B1%D8%A7%D8%AA%D9%8A%D8%AC%D9%8A%D8%A9-1357895\">Al Ghad<\/a> reported last week, adding that incentives for renewable energy, power storage, and green hydrogen production will be central to the plan. The strategy has been in the pipeline for some time, Secretary General of Jordan\u2019s Energy and Mineral Resources Ministry Amani Azzam said, with studies for the energy sector\u2019s development and expansion of smart power networks currently underway, she added. The kingdom is also expected to announce its green hydrogen strategy this quarter, Assistant Secretary-General of the Energy and Mineral Resources Ministry Hassan Al-Hayari <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/48400bd6-088c-4e24-b57d-7a826d49ec0d\">said in June<\/a>.<\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-07\"><\/a> <strong>WATCH THIS SPACE #3- UAE\u2019s Mubadala bets on Brazil\u2019s ethanol for <\/strong><strong>biofuel production<\/strong>: Mubadala Capital \u2014 the asset management arm of UAE\u2019s investor Mubadala Investments \u2014 plans to acquire a 31.5% stake in Brazilian sugarcane processor <a href=\"https:\/\/atvos.com\/en\/\">Atvos<\/a> later this year or early next year, Atvos CEO Bruni Serapiao told <a href=\"https:\/\/www.reuters.com\/article\/mubadala-sugar-ethanol-idINL8N39R66J\">Reuters<\/a> last week. He said that his company is under bankruptcy protection, with Mubadala set to pay BRL 500 mn (c. USD 102.8 mn) when it lifts its court debt protection.<\/p>\n<p><strong>Mubadala\u2019s going big on Brazilian green fuels:<\/strong> Abu Dhabi\u2019s Mubadala Capital-backed Acelen said in April that it <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/ac1098d0-3295-4398-9861-49732b818009\">will invest up to USD 2.4 bn<\/a> over the next 10 years to produce green diesel and sustainable aviation fuel in Brazil. The new biorefinery in Brazil\u2019s northeastern state of Bahia will have the capacity to produce up to 1 bn liters per year of hydrotreated vegetable oil (HVO), a diesel-like fuel that can be produced from various vegetable oils and animal fats. Earlier this year, Mubadala Capital <a href=\"https:\/\/finance.yahoo.com\/news\/uaes-mubadala-drops-bidding-brazils-111305998.html\">withdrew from bidding<\/a> for ethanol JV <a href=\"https:\/\/bpbunge.com.br\/en\/\">BP Bunge Bioenergia<\/a>, with reports suggesting that the UAE state investor dropped out after concluding negotiations to acquire Atvos.<\/p>\n<hr class=\"grey-line\">\n<p><strong>WATCH THIS SPACE #4- Western wind power is in trouble: <\/strong>Energy transition targets are at risk as supply chain strains continue to hike prices for the wind power sector, CEO of <a href=\"https:\/\/www.rwe.com\/en\/\">RWE<\/a> Markus Krebber told <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-08-10\/rwe-sees-climate-goals-at-risk-as-global-wind-power-in-crisis?srnd=premium-middle-east#xj4y7vzkg\">Bloomberg<\/a> last week. Rising inflation and strained supply chains are driving up prices for offshore wind turbines, leading to a halt in a number of large scale wind power projects in the US and the UK, Krebber says, meaning that global climate protection targets will be at risk if renewables plants don\u2019t come online as scheduled. Swedish energy company Vattenfall said it would put three phases of the Norfolk Offshore Wind Zone in the UK on pause due to <a href=\"https:\/\/www.nytimes.com\/2023\/08\/07\/business\/offshore-wind-costs-delays.html\">rapidly increasing costs of equipment and construction<\/a> last month, hiking the project\u2019s price tag up by GBP 3 bn to GBP 13 bn. Suppliers will need to up their production capacities fast to clear the backlog, and governments will need to extend auction lead times beyond the current average of five years to strengthen the wind power sector\u2019s long term supply chain security, he added.<\/p>\n<hr class=\"grey-line\">\n<p><strong>THE DANGER ZONE- \u201cThe world is likely to face major disruption to food supplies <\/strong><strong>well before temperatures rise by the 1.5\u00b0C target,\u201d<\/strong> <a href=\"https:\/\/www.theguardian.com\/environment\/2023\/aug\/12\/global-heating-likely-to-hit-world-food-supply-faster-than-expected-says-united-nations-desertification-expert\">the Guardian<\/a> reports, citing COP15 UN Convention to Combat Desertification president Alain-Richard Donwahi. Donwahi expressed that the effects of drought are coming about more rapidly than expected given its intersections with food security, migration of population, and inflation levels. The former desertification president called for more attention to be drawn to investing in agriculture to improve yields and therefore food security.<\/p>\n<p><strong>Desertification is getting the short end of the stick: <\/strong>\u201cLast year\u2019s COP15 on desertification went largely unnoticed compared with the climate COP27 and the biodiversity COP15 last December,\u201d the Guardian wrote, despite that it happens less frequently than other climate summits. The COP16 desertification conference will be held in Riyadh in December 2024.<\/p>\n<p><strong>IN OUR NECK OF THE WOODS- Iraq\u2019s 50\u00b0C heat shows the \u201cera of global boiling\u201d <\/strong><strong>has begun<\/strong>, UN High Commissioner for Human Rights Volker Turk warned last week, according to <a href=\"https:\/\/www.thenationalnews.com\/world\/2023\/08\/09\/un-warns-iraqs-water-crisis-could-have-broader-regional-consequences\/\">The National<\/a>. Turk witnessed \u2018the tangible effects\u2019 of climate change firsthand during a four-day visit in Iraq last week. \u201cStanding in searing heat in that scarred landscape, breathing air polluted by the many gas flares dotting the region, it was clear to me that the era of global boiling has indeed begun. This is a climate emergency. And it is high time it is treated like one. Not just for Iraq but for the world,\u201d he said. Turk attributed Iraq\u2019s climate woes to a \u201ctoxic mix\u201d of global warming, drought, poor water management, violence, and \u201coil industry excesses,\u201d the news outlet notes.<\/p>\n<p><strong>Dangerously low water levels:<\/strong> Turk\u2019s statements come a day after the country\u2019s Water Resources Ministry said that Iraq\u2019s water levels dropped to their <a href=\"https:\/\/www.reuters.com\/world\/middle-east\/iraqs-50c-heat-shows-era-global-boiling-has-begun-un-rights-chief-2023-08-09\/\">lowest capacities on record<\/a>. Iraq is the <a href=\"https:\/\/www.icrc.org\/en\/document\/iraq-tale-climate-change-pictures\">fifth most climate-vulnerable<\/a> country in the world, susceptible to climatic phenomena such as high temperatures, insufficient rainfall, drought and water scarcity, and frequent sand and dust storms. Nearly 70% of the country\u2019s land mass is under threat of climate-induced desertification. To top <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/6c5c2f6b-090a-4d9f-93c7-308f58d2025c\">Iraq\u2019s water woes<\/a>, Iran and Turkey <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/92f0d10b-8f32-4fdc-9bd4-98913c05514b\">have built dams<\/a> in recent years that have affected water levels in the Tigris and Euphrates rivers, which account for 98% of Iraq\u2019s surface water. The country <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/404b6beb-6c14-4cc2-bd14-25532d0885c0\">needs USD mns<\/a> to combat desertification and is looking to raise some USD 100 mn to launch reforestation efforts and bolster food security. Iraq will only be able to <a href=\"https:\/\/news.un.org\/en\/story\/2023\/05\/1136787\">meet 15%<\/a> of its water demands by 2035 if current trends continue, the UN warned in May.<\/p>\n<p><strong>NON-CLIMATE REGIONAL HEADLINES:<\/strong><\/p>\n<ul>\n<li><strong>UAE:<\/strong> The Emirates refuted <a href=\"https:\/\/www.wsj.com\/articles\/a-u-s-ally-promised-to-send-aid-to-sudan-it-sent-weapons-instead-82d396f\">media reports<\/a> suggesting it sent arms shipments to one of the warring parties of Sudan\u2019s war. (<a href=\"https:\/\/www.albayan.ae\/world\/gcc\/2023-08-13-1.4709604\">Al Bayan<\/a>)<\/li>\n<li><strong>Saudi Arabia: <\/strong>KSA has appointed its first ever ambassador to Palestine as the US pushes with efforts on Saudi-Israel normalization. (<a href=\"https:\/\/tinyurl.com\/bdweryca\">Asharq Al Awsat<\/a>)<\/li>\n<li><strong>Egypt:<\/strong> Inflation accelerated at a record pace for the second month running in July, as surging food costs and the impact of a series of devaluations maintained upward pressure on prices. (<a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c9775147-75a5-4479-8f40-f4631fd233be\">Enterprise<\/a>)<\/li>\n<\/ul>\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>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>MISSED OUR PREVIOUS FORUMS? <\/strong><strong><a href=\"https:\/\/podcasts.apple.com\/eg\/podcast\/the-enterprise-podcast\/id1617987136\">The Enterprise Podcast has you covered<\/a><\/strong><strong>: <\/strong>The Enterprise Podcast\u2019s forum series has been bringing you audio recordings of what was said on stage at the Enterprise Exports and FDI Forum and Enterprise Climate Forum.<\/p>\n<p><strong>WANT TO LISTEN? Head to:<\/strong> <a href=\"https:\/\/podcasts.apple.com\/eg\/podcast\/the-enterprise-podcast\/id1617987136?i=1000624249910\">Apple Podcast<\/a> | <a href=\"https:\/\/open.spotify.com\/episode\/3i70JDa1bM3kGLLH2sm7a6?si=mrr995svRkK12tS_7vdufg&nd=1\">Spotify<\/a> | <a href=\"https:\/\/podcasts.google.com\/feed\/aHR0cHM6Ly93d3cub21ueWNvbnRlbnQuY29tL2QvcGxheWxpc3QvNWE1NmQ3YzMtZjI4MS00NTU3LThlMzEtYWFjODAxN2NjZjA2LzY4NmNmYTU5LTAwOTMtNDEyMS1hMTRjLWFlNmYwMDk3ZjEyMi81NDI0MGE5Ni04YWY5LTRkZGQtODExNi1hZTZmMDA5OTgxMzYvcG9kY2FzdC5yc3M\/episode\/YTgyM2Y1OTUtZWMxOS00YTg2LTk0MjMtYjA1YzAwZGVhN2Mx?sa=X&ved=0CAYQkfYCahcKEwjI8rf4z9eAAxUAAAAAHQAAAAAQNA\">Google Podcast<\/a> | <a href=\"https:\/\/play.anghami.com\/episode\/1121361311?adj_t=dgl0aa8_64v1dnl&adj_campaign=ios&adj_adgroup=episode&adj_creative=126401725\">Anghami<\/a> | <a href=\"https:\/\/omny.fm\/shows\/the-enterprise-podcast\">Omny<\/a>.<\/p>\n<p><strong>IN THIS WEEK\u2019S EPISODE- It\u2019s the very first panel of the Enterprise Climate Forum:<\/strong> Egypt brought home major victories from COP27, signing framework agreements for about USD 85 bn worth of green hydrogen projects, and announcing more than USD 10 bn in funding for the Nexus for Food, Water and Energy (NWFE) program. While we have a long way to go before much of the wins from COP27 will be tangible to the private sector, the opportunities in green hydrogen and NWFE are \u201cnow.\u201d Our panelists helped explain how these two can be made actionable. We were joined by <strong>Jorgo Chatzimarkakis<\/strong>, CEO of Hydrogen Europe, <strong>Khalid Hamza<\/strong>, Director and head of Egypt at the European Bank for Reconstruction and Development, and <strong>Khaled Naguib<\/strong>, CEO of Hydrogen Egypt.<\/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>***<\/p>\n<p><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><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\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\/biofuels\/\">biofuels<\/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\/egypt\/\">Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/green-finance\/\">green finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/green-hydrogen\/\">green hydrogen<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/jordan\/\">Jordan<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/mubadala\/\">Mubadala<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/renewables\/\">renewables<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/sustainable-aviation-fuels\/\">sustainable aviation fuels<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/uae\/\">UAE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/what-were-tracking-today\/\">WHAT WE\u2019RE TRACKING TODAY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"78954\" 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=\"78955\" 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=\"78955\">\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\">SOLAR<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/climate\/2023\/08\/14\/masdar-snaps-up-bid-to-build-1-8-gw-sixth-phase-of-uaes-al-maktoum-solar-park\/\">\r\n                            Masdar snaps up bid to build 1.8 GW sixth phase of UAE\u2019s Al Maktoum solar park                        <\/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 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data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2059.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/2\/2059.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2021\/2\/2059.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-78955\" class=\"content-area-description single-story post-78955 post type-post status-publish format-standard has-post-thumbnail hentry category-solar tag-enterpriseclimate tag-masdar tag-renewables tag-solar 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-01\"><\/a> <strong>UAE taps Masdar to build sixth phase of Al Maktoum solar park:<\/strong> The Dubai Electricity and Water Authority (Dewa) has selected the UAE\u2019s Masdar to build and operate its 1.8 GW sixth phase of the Mohammed bin Rashid Al Maktoum solar park beating <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/319301a9-69d6-4fc8-8e6a-4987d9182c03\">Saudi Arabia\u2019s Acwa Power<\/a> for the bid, the <a href=\"https:\/\/mediaoffice.ae\/en\/news\/2023\/August\/13-08\/DEWA-selects-Preferred-Bidder-for\">Dubai Media Office<\/a> reports. The full investment ticket for the upcoming phase is AED 5.5 bn (c. USD 1.5 bn), and it is scheduled to become operational in stages between 4Q 2024 and 2026.<\/p>\n<p><strong>The lowest price wins: <\/strong>Masdar\u2019s bid to sell the energy generated by the sixth phase was <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/319301a9-69d6-4fc8-8e6a-4987d9182c03\">the<\/a><a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/319301a9-69d6-4fc8-8e6a-4987d9182c03\">lowest bid Dewa<\/a> has received thus far at USD 0.0162 per kWh, beating Acwa Power\u2019s fifth phase pricing of USD 0.0170 per kWh. Acwa Power\u2019s competing bid for the sixth phase was not disclosed.<\/p>\n<p><strong>The upcoming phase will push total capacity to 4.2 GW:<\/strong> Once the sixth phase is completed, the park\u2019s total production capacity will go from the current 2.4 GW \u2014 reached in June after the inauguration of the fifth phase \u2014 to 4.2 GW. This leaves 800 MW remaining to complete the <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/7d04bf56-c205-41f8-8e05-d93d8064cd98\">world\u2019s largest single-site solar park<\/a> using the IPP model.<\/p>\n<p><strong>A second play for Masdar:<\/strong> A Masdar-led consortium developed the <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/bc3db30e-721f-418d-afea-36acddd5e39b\">800 MW third phase<\/a> of the solar park in partnership with France's EDF, selling at a price of <a href=\"https:\/\/www.mbrsic.ae\/en\/about\/mohammed-bin-rashid-al-maktoum-solar-park\/\">USD 0.0299 per kWh<\/a>, which was the lowest price secured by Dewa at the time. Acwa Power is still ahead of Masdar in the number of bids won, having developed the second, fourth, and fifth phases of the park.<\/p>\n<p><strong>IN OTHER MASDAR NEWS- The company is emerging as a risk taker in <\/strong><strong>climate-challenged <\/strong><strong>economies: <\/strong>Masdar\u2019s recent <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/53701f25-7e73-45d7-abeb-3a954978d785\">debut green bond issuance<\/a> will allow it to \u201ctap into a completely new pool of liquidity for greenfield, wind, solar and battery projects\u2026in developing or climate-challenged economies,\u201d CFO Niall Hannigan told <a href=\"https:\/\/www.spglobal.com\/commodityinsights\/en\/market-insights\/latest-news\/electric-power\/080923-interview-masdars-green-bonds-to-help-address-climate-inequality\">S&P Global Commodity Insights<\/a> in an interview last week. Hannigan stressed that the liquidity would not be subjected to the usual risk of being put into developing economies. \"That's us using the green bond and taking money to markets it otherwise would not get to,\" he said.<\/p>\n<p><strong>And there\u2019s some strategic diversification on deck:<\/strong> It aims to produce 1 mn mt of renewable hydrogen by 2030, first in the UAE under an agreement with France\u2019s Engie and global hubs like Egypt for exports into Europe and cooperation in the continent itself, including BP in the UK. The Gulf represents a \u201chuge market\u201d for the company, with generation capacity for green hydrogen in the UAE and Saudi Arabia covered, Hannigan said. MENA is also a key region of interest, with its joint venture with Infinity Power helping it acquire a platform with projects in Egypt, South Africa, and Senegal, he added.<\/p>\n<p><strong>Battery storage in mind:<\/strong> Masdar is also interested in battery storage projects, targeting 1 GW plus of battery storage through <a href=\"https:\/\/news.masdar.ae\/en\/press-Release?News\/2022\/10\/25\/10\/25\/Masdar-Acquires-Arlington-Energy-to-Advance\">Masdar Arlington<\/a>, Hannigan said. He revealed that final investment decisions would be made later in 2023 on the company\u2019s first UK battery projects, which upon operations would be managed using Octopus\u2019 Kraken technology platform.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/masdar\/\">Masdar<\/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\/\">SOLAR<\/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=\"78957\" 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=\"78957\">\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\">M&amp;A WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/climate\/2023\/08\/14\/tabreed-offloads-50-stake-in-tpi-to-dh-investments-subsidiary\/\">\r\n                            Tabreed offloads 50% stake in TPI to DH Investments' subsidiary                        <\/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\/08\/14\/tabreed-offloads-50-stake-in-tpi-to-dh-investments-subsidiary\/\" 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\/08\/14\/tabreed-offloads-50-stake-in-tpi-to-dh-investments-subsidiary\/')\">\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\/08\/14\/tabreed-offloads-50-stake-in-tpi-to-dh-investments-subsidiary\/\">\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=Tabreed offloads 50% stake in TPI to DH Investments' subsidiary&url=https:\/\/enterpriseam.com\/climate\/2023\/08\/14\/tabreed-offloads-50-stake-in-tpi-to-dh-investments-subsidiary\/\">\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\/08\/14\/tabreed-offloads-50-stake-in-tpi-to-dh-investments-subsidiary\/&title=Tabreed offloads 50% stake in TPI to DH Investments' subsidiary\">\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=Tabreed+offloads+50%25+stake+in+TPI+to+DH+Investments%27+subsidiary+https%3A%2F%2Fenterpriseam.com%2Fclimate%2F2023%2F08%2F14%2Ftabreed-offloads-50-stake-in-tpi-to-dh-investments-subsidiary%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\/08\/14\/tabreed-offloads-50-stake-in-tpi-to-dh-investments-subsidiary\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/8\/2743.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"78958\" data-permalink=\"https:\/\/enterpriseam.com\/climate\/2023\/08\/14\/tabreed-offloads-50-stake-in-tpi-to-dh-investments-subsidiary\/2743-jpg-5\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/8\/2743.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2743.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/8\/2743.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/8\/2743.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-78957\" class=\"content-area-description single-story post-78957 post type-post status-publish format-standard has-post-thumbnail hentry category-ma-watch-2 tag-dh-investments tag-district-cooling tag-enterpriseclimate tag-ma-watch tag-tabreed 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>Tabreed is <\/strong><strong>offloading half of its ownership <\/strong><strong>in its TPI:<\/strong> The UAE\u2019s National Central Cooling Company (Tabreed) will sell 50% of its ownership in subsidiary Tabreed Parks Investments (TPI) to a <a href=\"http:\/\/dhinv.com\/\">DH Investments<\/a>\u2019 subsidiary for AED 99.8 mn (c. USD 21.7 mn), according to a <a href=\"https:\/\/www.dfm.ae\/the-exchange\/news-disclosures\/disclosures\/4b440d98-386d-4ecf-ba08-2752c7815ff0\">disclosure (pdf)<\/a> released on Friday. DH Investments is part of Dubai Holding, the investment vehicle of Dubai\u2018s ruler Sheikh Mohammed bin Rashid Al Maktoum.<\/p>\n<p><strong>What we know:<\/strong> The AED 99.8 mn transaction is expected to close this month, according to the disclosure, which said that Tabreed will retain a 50% stake in TPI post sale. It is set to help increase cash balance by AED 99.8 mn and increase other income and gain by circa AED 80 mn to AED 100 mn before taxes. However, Tabreed said it expects the transaction to result in a lower net income by c. AED 9 mn for the company by 3Q 2023.<\/p>\n<p><strong>Where the funds are going<\/strong>: The proceeds will be channeled to finance further growth on Tabreed\u2019s portfolio in key markets, the disclosure said, without providing details on the planned markets or plans by the district cooling company.<\/p>\n<p><strong>Tabreed already started expansions: <\/strong>The company increased its international footprint earlier this year by <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/05ca2fd9-0e73-4e69-b58a-41d22ecd7233\">making a grand entry in India<\/a>under a partnership with Tata Realty and Infrastructure Limited. It began operating the <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/7a3a7bb5-9079-4e57-af88-71f4008778cc\">cooling infrastructure in July<\/a>.<\/p>\n<p><strong>About TPI<\/strong>: TPI\u2019s assets include district cooling plants and an associated network which provides chilled water services to multiple theme parks and related facilities in Dubai, according to the disclosure.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/dh-investments\/\">DH Investments<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/district-cooling\/\">district cooling<\/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\/tabreed\/\">Tabreed<\/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=\"78959\" 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=\"78959\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/climate\/2023\/08\/14\/78959\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-78959\" class=\"content-area-description single-story post-78959 post type-post status-publish format-standard hentry wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p class='web-image'><a href='https:\/\/weareiph.com\/'><img decoding=\"async\" data-recalc-dims=\"1\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/5\/1828.jpg?ssl=1\" alt='enterprise'><\/a><\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"78960\" 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=\"78960\">\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\">ELECTRIC VEHICLES<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/climate\/2023\/08\/14\/chinas-huayou-is-considering-usd-20-bn-ev-battery-plant-in-morocco\/\">\r\n                            China's Huayou is considering USD 20 bn EV battery plant in Morocco                        <\/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\/08\/14\/chinas-huayou-is-considering-usd-20-bn-ev-battery-plant-in-morocco\/\" 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\/08\/14\/chinas-huayou-is-considering-usd-20-bn-ev-battery-plant-in-morocco\/')\">\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\/08\/14\/chinas-huayou-is-considering-usd-20-bn-ev-battery-plant-in-morocco\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=China's Huayou is considering USD 20 bn EV battery plant in Morocco&url=https:\/\/enterpriseam.com\/climate\/2023\/08\/14\/chinas-huayou-is-considering-usd-20-bn-ev-battery-plant-in-morocco\/\">\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\/08\/14\/chinas-huayou-is-considering-usd-20-bn-ev-battery-plant-in-morocco\/&title=China's Huayou is considering USD 20 bn EV battery plant in Morocco\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=China%27s+Huayou+is+considering+USD+20+bn+EV+battery+plant+in+Morocco+https%3A%2F%2Fenterpriseam.com%2Fclimate%2F2023%2F08%2F14%2Fchinas-huayou-is-considering-usd-20-bn-ev-battery-plant-in-morocco%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\/08\/14\/chinas-huayou-is-considering-usd-20-bn-ev-battery-plant-in-morocco\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/8\/2759.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"78961\" data-permalink=\"https:\/\/enterpriseam.com\/climate\/2023\/08\/14\/chinas-huayou-is-considering-usd-20-bn-ev-battery-plant-in-morocco\/2759-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/8\/2759.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2759.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/8\/2759.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/8\/2759.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-78960\" class=\"content-area-description single-story post-78960 post type-post status-publish format-standard has-post-thumbnail hentry category-electric-vehicles tag-china tag-electric-vehicles tag-enterpriseclimate tag-evs tag-morocco tag-zhejiang-huayou-cobalt wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-03\"><\/a> <strong>Chinese battery minerals producer Zhejiang Huayou Cobalt is <\/strong><strong>mulling a MAD 200 bn (c. USD 20 bn) electric vehicle battery plant in Morocco<\/strong>, <a href=\"https:\/\/tinyurl.com\/2p8964nk\">Hespress<\/a> reported on Wednesday, citing a regional investment center official.<\/p>\n<p><strong>What we know:<\/strong> The facility, which would be located in Laayoune Sakia El Hamra in the Western Sahara, would have a production capacity sufficient to meet 30% of the demand in EV batteries by local, European and US markets, Director-General of the Regional Investment Centre of the Laayoune-Sakia El Hamra region Mohamed Jifer told Hespress. This would roughly mean batteries supplied to over 6 mn electric vehicles by 2030, Jifer added.<\/p>\n<p><strong>We already know Morocco is getting a gigafactory from the Chinese: <\/strong>Morocco <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/b6bc199f-bd7c-42b3-aa7c-2aa766f2e3c4\">signed an<\/a><a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/b6bc199f-bd7c-42b3-aa7c-2aa766f2e3c4\">MoU<\/a> with Chinese battery maker Gotion High Tech in June to build a roadmap for setting up a gigafactory for EV batteries and energy storage systems. Under the agreement, Gotion High-Tech will set up a \u201cgigafactory\u201d with investments estimated at MAD 65 bn (c. USD 6.4 bn) in Bouknadel. The facility, which will be the first of its kind in Africa, will have a production capacity of 100 GWh and will create 25k jobs.<\/p>\n<p><strong>REMEMBER- Morocco has transformed itself into a <\/strong><strong><a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/761e8bf1-981e-4621-9635-89883897a9e5\">regional automotive powerhouse<\/a><\/strong><a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/761e8bf1-981e-4621-9635-89883897a9e5\"><\/a>through smart incentives and consistent government policy, and it is now a key exporter to Europe as well as to other MENA countries, including Egypt. It has put together a comprehensive agenda including developing a national master plan for electric mobility, designating zones where fossil-fuel cars are banned, giving <a href=\"https:\/\/www.iea.org\/policies\/6993-circulation-tax-exemption-morocco\">tax exemptions on EVs<\/a>, and developing the infrastructure through an <a href=\"https:\/\/www.i-smart.ma\/\">iSmart charging station<\/a>. Morocco is targeting the production of around 1 mn EVs in the next three to four years, according to statements by officials last year.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/china\/\">China<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/electric-vehicles\/\">ELECTRIC VEHICLES<\/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\/morocco\/\">Morocco<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/zhejiang-huayou-cobalt\/\">Zhejiang Huayou Cobalt<\/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=\"78962\" 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=\"78962\">\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\">DESALINATION<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/climate\/2023\/08\/14\/veolia-partners-with-totalenergies-to-greenify-desalination-plant-in-oman-with-solar-power\/\">\r\n                            Veolia partners with TotalEnergies to greenify desalination plant in Oman with solar power                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/climate\/2023\/08\/14\/veolia-partners-with-totalenergies-to-greenify-desalination-plant-in-oman-with-solar-power\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/climate\/2023\/08\/14\/veolia-partners-with-totalenergies-to-greenify-desalination-plant-in-oman-with-solar-power\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/climate\/2023\/08\/14\/veolia-partners-with-totalenergies-to-greenify-desalination-plant-in-oman-with-solar-power\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Veolia partners with TotalEnergies to greenify desalination plant in Oman with solar power&url=https:\/\/enterpriseam.com\/climate\/2023\/08\/14\/veolia-partners-with-totalenergies-to-greenify-desalination-plant-in-oman-with-solar-power\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/climate\/2023\/08\/14\/veolia-partners-with-totalenergies-to-greenify-desalination-plant-in-oman-with-solar-power\/&title=Veolia partners with TotalEnergies to greenify desalination plant in Oman with solar power\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Veolia+partners+with+TotalEnergies+to+greenify+desalination+plant+in+Oman+with+solar+power+https%3A%2F%2Fenterpriseam.com%2Fclimate%2F2023%2F08%2F14%2Fveolia-partners-with-totalenergies-to-greenify-desalination-plant-in-oman-with-solar-power%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/climate\/2023\/08\/14\/veolia-partners-with-totalenergies-to-greenify-desalination-plant-in-oman-with-solar-power\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2020\/10\/231.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"78963\" data-permalink=\"https:\/\/enterpriseam.com\/climate\/2023\/08\/14\/veolia-partners-with-totalenergies-to-greenify-desalination-plant-in-oman-with-solar-power\/231-jpg-14\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/10\/231.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"231.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/10\/231.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2020\/10\/231.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-78962\" class=\"content-area-description single-story post-78962 post type-post status-publish format-standard has-post-thumbnail hentry category-desalination tag-desalination tag-enterpriseclimate tag-oman tag-solar-energy tag-veolia wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-04\"><\/a> <strong>Veolia, TotalEnergies to greenify desalination plant in Oman: <\/strong>Oman-based Sharqiyah Desalination Company SAOG, a JV between France\u2019s Veolia and Oman\u2019s National Power and Water Company, has signed an agreement with TotalEnergies to build a 17 MW solar project to power its <a href=\"https:\/\/www.veoliawatertechnologies.com\/en\/case-studies\/oman\">Sur desalination plant<\/a>, according to a <a href=\"https:\/\/totalenergies.com\/media\/news\/press-releases\/totalenergies-and-veolia-partner-build-largest-solar-system-desalination\">statement<\/a>. The solar farm will produce over 30 GWh of clean energy annually \u2014 supplying over a third of the plant's daily consumption \u2014 and will offset some 300k tons of carbon emissions annually, the statement notes.<\/p>\n<p><strong>Veolia has been active this year:<\/strong> A consortium comprising Veolia, ADQ, and Saudi investment powerhouse Vision Invest <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/630cd2d9-9a00-4a92-b8eb-4d1039d21a8e\">reached financial close<\/a> on the acquisition of two hazardous industrial waste treatment plants in the UAE\u2019s Al Ruwais Industrial City last June, which will have a combined 70k ton annual treatment capacity, with Veolia holding a 50.1% stake in the operating company. Veolia\u2019s subsidiary Sidem was also tapped to lead a consortium tasked with the engineering, procurement, and construction of the AED 2.3 bn low-carbon <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/70e34852-30ff-458c-b0a1-0ac55b1789c8\">Mirfa 2 Reverse Osmosis<\/a> desalination plant in the same month.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/desalination\/\">DESALINATION<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/oman\/\">Oman<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/solar-energy\/\">solar energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/veolia\/\">Veolia<\/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=\"78964\" 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=\"78964\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">6<\/div>\r\n\r\n                    <p class=\"f-graphik\">EARNINGS WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/climate\/2023\/08\/14\/dewa-reports-24-slump-in-net-income-in-2q-despite-rising-demand\/\">\r\n                            Dewa reports 24% slump in net income in 2Q despite rising demand                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/climate\/2023\/08\/14\/dewa-reports-24-slump-in-net-income-in-2q-despite-rising-demand\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/climate\/2023\/08\/14\/dewa-reports-24-slump-in-net-income-in-2q-despite-rising-demand\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/climate\/2023\/08\/14\/dewa-reports-24-slump-in-net-income-in-2q-despite-rising-demand\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Dewa reports 24% slump in net income in 2Q despite rising demand&url=https:\/\/enterpriseam.com\/climate\/2023\/08\/14\/dewa-reports-24-slump-in-net-income-in-2q-despite-rising-demand\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/climate\/2023\/08\/14\/dewa-reports-24-slump-in-net-income-in-2q-despite-rising-demand\/&title=Dewa reports 24% slump in net income in 2Q despite rising demand\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Dewa+reports+24%25+slump+in+net+income+in+2Q+despite+rising+demand+https%3A%2F%2Fenterpriseam.com%2Fclimate%2F2023%2F08%2F14%2Fdewa-reports-24-slump-in-net-income-in-2q-despite-rising-demand%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/climate\/2023\/08\/14\/dewa-reports-24-slump-in-net-income-in-2q-despite-rising-demand\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/8\/1716.jpeg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"78965\" data-permalink=\"https:\/\/enterpriseam.com\/climate\/2023\/08\/14\/dewa-reports-24-slump-in-net-income-in-2q-despite-rising-demand\/1716-jpeg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/8\/1716.jpeg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1716.jpeg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/8\/1716.jpeg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/8\/1716.jpeg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-78964\" class=\"content-area-description single-story post-78964 post type-post status-publish format-standard has-post-thumbnail hentry category-earnings-watch tag-dewa tag-earnings-watch tag-enterpriseclimate 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-05\"><\/a><strong> A mixed 2Q for Dewa:<\/strong> The Dubai Electricity and Water Authority (Dewa) reported a 24% y-o-y drop in net income in the second quarter of the year to AED 1.98 bn despite a rise in customers and demand, according to <a href=\"https:\/\/feeds.dfm.ae\/documents\/\/2023\/Aug\/10\/fa5a25df-ddd1-4241-83c6-788ec69c0d48\/DEWA_FS_Q1_E_10_08_2023.pdf\">financial statements (pdf)<\/a> released on Thursday. Dewa\u2019s revenues were up 4.3% y-o-y in 2Q reaching AED 7.3 bn.<\/p>\n<p><strong>Driving the rise in topline:<\/strong> The growth in consolidated revenues during the second quarter came on the back of increased demand for electricity, water, and cooling services and a rise in revenues by the utility company\u2019s other portfolio of assets, its <a href=\"https:\/\/www.dfm.ae\/the-exchange\/news-disclosures\/disclosures\/b0051efc-810d-4d73-aa3d-07a19e19e4ac\">earnings release (pdf)<\/a> explained. It also reported a rise in the number of customer accounts during the quarter by nearly 15k to reach 1.18 mn customers.<\/p>\n<p><strong>A rocky 1H:<\/strong> Dewa reported a 18.8% y-o-y fall in net income during the first half of the year to report AED 2.7 bn on the back of a rise in net finance costs and depreciation. Net finance costs were higher by AED 262 mn due to an increase in the Emirates Interbank Offered Rate (EIBOR) and a lower capitalized interest of new IPP projects that have been commissioned. Depreciation also increased by AED 190 mn due to the newly commissioned projects, triggering the plunge in net profit during the first six months of the year. Revenues were up by c. 5% y-o-y in the first half of the year to report AED 12.7 bn.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/dewa\/\">DEWA<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/earnings-watch\/\">EARNINGS WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/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=\"78966\" 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=\"78966\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">7<\/div>\r\n\r\n                    <p class=\"f-graphik\">EARNINGS WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/climate\/2023\/08\/14\/ksas-acwa-power-net-income-and-revenues-get-a-bump-in-2q\/\">\r\n                            KSA\u2019s Acwa Power net income and revenues get a bump in 2Q                        <\/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\/08\/14\/ksas-acwa-power-net-income-and-revenues-get-a-bump-in-2q\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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Its revenues rose 9.1% y-o-y during 2Q reaching SAR 1.4 bn.<\/p>\n<p><strong>What\u2019s behind the increase?<\/strong> The rise in net profit during the quarter was due to a higher operating income before impairment and other expenses. The company attributed this to new projects as well as greater contribution from existing projects.<\/p>\n<p><strong>A profitable 1H:<\/strong> The Saudi utility giant reported a 26.3% y-o-y rise in net income for the first half of the year to SAR 684.1 mn from SAR 541.7 mn in the corresponding period last year. Its revenues were up 12.2% y-o-y during the first six months of the year to SAR 2.7 bn from SAR 2.4 bn in the same period last year.<\/p>\n<p><strong>Yet, it could have been better:<\/strong> The increase in net profit during both the second quarter and first half was partially offset by higher finance charges due to additional debt, including the sukuk tranche issued by Acwa Power, the refinancing in one of the subsidiaries, and higher finance costs on the back of higher market rates.<\/p>\n<p><strong>Acwa had a very good year<\/strong><strong>: <\/strong>The renewables giant said it was able to achieve four financial closes in the first half of the year, including the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/320d303f-9f12-4b87-b16f-4cbe5615b532\">200 MW Kom Ombo solar plant<\/a> in Egypt and the <a href=\"https:\/\/acwapower.com\/en\/projects\/karatau-wind-ipp\/\">100 MW Karatau wind farm<\/a> in Uzbekistan, according to its <a href=\"https:\/\/www.saudiexchange.sa\/Resources\/fsPdf\/12317_2362_2023-08-09_21-23-05_en.pdf\">investor report (pdf)<\/a>. It also contributed to the financial closing of the <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/3b430e5e-0bba-4e79-b49f-6b1a0240542d\">USD 6.3 bn mega hydrogen plant in Neom<\/a> and signed a hydrogen purchase agreement and a complimentary wind power purchase agreement in Uzbekistan.<\/p>\n<p><strong>Uzbekistan is the star of the year:<\/strong> Acwa Power said it <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/ad5ad3ff-b4b7-48a6-89df-3666a238e50d\">signed a roadmap agreement<\/a> with Uzbekistan\u2019s Energy Ministry and the Uzbekistani sovereign wealth fund to set up a 1 GW wind energy and battery storage project in the country. It also <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/0cf90e82-d075-438e-85f0-684b223b6c70\">signed an EPC contract<\/a> with Energy China Group Corporation (CEEC) for a solar PV project in Uzbekistan\u2019s Tashkent.<\/p>\n<p><strong>Where things stand now:<\/strong> PPAs signed by Acwa Power during the first half of the year have helped bring its total power capacity to over 50 GW, according to the report. Over 23 GW of the capacity, representing 46%, are renewables. Such momentum brings it closer to its 2030 target of a 50\/50 portfolio between renewables and flexible generation, it said.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/acwa-power\/\">ACWA Power<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/earnings-watch\/\">EARNINGS WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/egypt\/\">Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/solar\/\">SOLAR<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/uzbekistan\/\">Uzbekistan<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/water\/\">water<\/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=\"78968\" 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=\"78968\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">8<\/div>\r\n\r\n                    <p class=\"f-graphik\">ALSO ON OUR RADAR<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/climate\/2023\/08\/14\/morocco-opens-tender-for-400-mw-noor-midelt-iii-pv-farm-plus-iran-inaugurates-10-mw-solar-plant\/\">\r\n                            Morocco opens tender for 400 MW Noor Midelt III PV farm PLUS: Iran inaugurates 10 MW solar plant                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/climate\/2023\/08\/14\/morocco-opens-tender-for-400-mw-noor-midelt-iii-pv-farm-plus-iran-inaugurates-10-mw-solar-plant\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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Developers will have to submit prequalification documents to fund, build, and operate the solar plant by 20 October. Masen is <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/3db99165-cad7-44fa-92fc-42c813c3c86b\">expected to award<\/a> the contract for the 400 MW second phase of the project soon, after <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/317c10c5-6a0b-4f38-b4b5-1bc1b3c62958\">prequalifying<\/a> six consortiums including France\u2019s EDF Renewables, Spain\u2019s Iberdrola, and Saudi Arabia\u2019s Acwa Power earlier in July.<\/p>\n<p><strong>Noor\u2019s first phase is stalled: <\/strong>A consortium led by EDF began working on the 800 MW first phase of Noor Midelt in 2019, which combines solar and concentrated solar power (CSP) technologies, and the project was expected to deliver electricity to the grid from 2022. However, progress on phase 1 has stalled due to disagreements over CSP tech, <a href=\"https:\/\/www.reuters.com\/business\/energy\/morocco-tenders-400-mw-solar-plant-atlas-mountains-2023-08-09\/\">Reuters<\/a> reports, citing people with knowledge of the matter.<\/p>\n<p><strong>ALSO- The kingdom is going big on green fuels:<\/strong> Morocco allocated 1.4 mn hectares of land last year for 454 projects with a combined expected investment ticket of USD 60.5 bn and 93% earmarked for green hydrogen and ammonia projects, <a href=\"https:\/\/www.asharqbusiness.com\/amp\/article\/53219\">Asharq Business<\/a> reports, citing data by the country\u2019s Economics and Finance Ministry. Eight green hydrogen and ammonia projects secured the lion\u2019s share of the land allocation agreements, including projects proposed by Abu Dhabi National energy company-subsidiary Taqa Morocco, Copenhagen Infrastructure Partners (CIP), AP Moller Capital, Dahamco, Power Sur, Ornx Boujdour et Laayoune, Falcon, and OCP.<\/p>\n<hr class=\"grey-line\">\n<p><strong>Iran kicked off operations on the IRR 1.4 bn (c.USD 33 mn), 10 MW Shahid Hamid <\/strong><strong>Bakri solar plant in the province of Semnan<\/strong>, <a href=\"https:\/\/www.mehrnews.com\/news\/5858253\/%D9%86%DB%8C%D8%B1%D9%88%DA%AF%D8%A7%D9%87-%D8%AA%D9%88%D9%84%DB%8C%D8%AF-%D8%A8%D8%B1%D9%82-%D8%AE%D9%88%D8%B1%D8%B4%DB%8C%D8%AF%DB%8C-%D8%AF%D8%B1-%D8%B3%D9%85%D9%86%D8%A7%D9%86-%D8%A7%D9%81%D8%AA%D8%AA%D8%A7%D8%AD-%D8%B4%D8%AF\">Mehr News Agency<\/a> reported on Thursday. The country is expected to double the farm\u2019s generation capacity over a second phase, the news agency quotes a cabinet representative as saying. Iran\u2019s Renewable Energy and Energy Efficiency Organization (Satba) announced plans earlier this year to <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/781ab5f0-ba1c-451f-98c0-fd058b4625bf\">re-tender 2.2 GW<\/a> of solar projects during the current Iranian fiscal year under plans to <a href=\"https:\/\/solarquarter.com\/2023\/05\/11\/iran-to-establish-at-least-one-solar-park-in-each-province\/\">establish at least one<\/a> solar farm in every Iranian province. In July, Satba announced plans to build a 1 GW solar farm in Qazvin.<\/p>\n<p><strong>OTHER STORIES WORTH KNOWING ABOUT THIS MORNING-<\/strong><\/p>\n<ul>\n<li><strong>Progress in the Omani EV sector:<\/strong> Oman\u2019s Energy and Minerals Regulatory Commission has granted licenses for the construction of 55 EV charging stations. The commission says it has approved 128 other stations, and 74 requests to develop charging points are still pending. (<a href=\"https:\/\/jo24.net\/article\/480292\">Jordan 24<\/a>)<\/li>\n<li><strong>Spain\u2019s PVH supplying solar trackers in KSA:<\/strong> Spanish solar energy equipment manufacturer <a href=\"https:\/\/pvhardware.com\/\">PVH<\/a> will supply 805 MW of solar trackers for Indian multinational Larsen & Toubro\u2019s Ar Rass solar project in Saudi Arabia. All of the trackers will be locally produced in <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/89ff6dc0-4e13-42c0-a7e6-696ba8f5418b\">PVH\u2019s 8 GW tracker factory<\/a> in Jeddah. (<a href=\"https:\/\/pvhardware.com\/pvh-signs-supply-of-805-mw-in-saudi-arabia-for-lt-at-ar-rass-project\/\">Statement<\/a>)<\/li>\n<li><strong>Morocco grants more mining licenses:<\/strong> Morocco has granted London-listed mineral exploration company <a href=\"https:\/\/aterianplc.com\/\">Aterian<\/a> 10 new licenses to explore critical minerals including copper and silver on a total land area of 139.6 square km. (<a href=\"https:\/\/polaris.brighterir.com\/public\/aterian_plc\/news\/rns\/story\/xo8492w\">Statement<\/a>)<\/li>\n<\/ul>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/also-on-our-radar\/\">ALSO ON OUR RADAR<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/ammonia\/\">AMMONIA<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/green-hydrogen\/\">green hydrogen<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/iran\/\">Iran<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/morocco\/\">Morocco<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/renewables\/\">renewables<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <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=\"78970\" 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=\"78970\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">9<\/div>\r\n\r\n                    <p class=\"f-graphik\">AROUND THE WORLD<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/climate\/2023\/08\/14\/indonesia-is-reportedly-cutting-export-duties-and-vat-to-lure-in-ev-producersplsu-the-us-scaled-up-on-dac\/\">\r\n                            Indonesia is reportedly cutting export duties and VAT to lure in EV producersPLSU: The US scaled up on DAC                        <\/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\/08\/14\/indonesia-is-reportedly-cutting-export-duties-and-vat-to-lure-in-ev-producersplsu-the-us-scaled-up-on-dac\/\" 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 sources say the Indonesian government has agreed to offer 0% export duty and VAT exemptions to EV producers that set up shop on shore. They said potential investors will be allowed to import cars to sell domestically, but they must set up a factory within two years or face penalties still being outlined by the government. These decisions are subject to changes before a formal announcement, according to the sources. The incentives come as Indonesia tries to catch up with neighboring countries like Vietnam, the Philippines, and Thailand for a share of the global EV supply chain. It has been in talks with US company Tesla in recent years to set up on shore, while leading EV producer BYD signed an agreement in May to explore investments, although no actual moves on investing are yet in sight.<\/p>\n<p><strong>A push in the US to scale up DAC:<\/strong> The US Department of Energy (DOE) will provide over USD 1 bn in federal grants for projects in Texas and Louisiana aimed at removing over 2 mn metric tons of carbon emissions annually by scaling up direct air capture (DAC) technology, <a href=\"https:\/\/www.reuters.com\/business\/energy\/us-awards-12-bln-oxy-climeworks-led-carbon-air-capture-hubs-2023-08-11\/\">Reuters<\/a> reported on Friday. The DOE selected Louisiana's Project Cypress run by Batelle, Climeworks Corporation and Heirloom Carbon Technologies and the South Texas DAC Hub proposed by Occidental Petroleum\u2019s subsidiary <a href=\"https:\/\/www.1pointfive.com\/\">1PointFive<\/a> and partners Carbon Engineering and Worley. The move comes under a wider plan to deploy DAC, which could help the country meet its target of neutralizing greenhouse gas emissions by 2050, according to the DOE.<\/p>\n<p><strong>SOUND SMART-<\/strong> DAC technology refers to the <a href=\"https:\/\/www.iea.org\/energy-system\/carbon-capture-utilisation-and-storage\/direct-air-capture\">removal of CO2 directly<\/a>from the atmosphere at any location, rather than carbon capture which is generally absorbed at the point of emissions. Carbon dioxide removed under DAC technologies can be permanently stored in deep geological formations or be utilized in various applications.<\/p>\n<p><strong>DAC could be happening in the region:<\/strong> State oil giant Abu Dhabi National Oil Company (Adnoc) signed <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/c6ee7b70-9072-4ae6-816b-4cb7c900de28\">a strategic collaboration agreement<\/a> with Occidental Petroleum earlier this month to explore potential investment opportunities in carbon dioxide capture and storage (CCS) hubs in the UAE and US. Under the agreement, Adnoc and Occidental will evaluate the development of direct air capture (DAC) facilities in the UAE \u2014 including what could be the first megaton DAC project outside of the US \u2014 to potentially absorb as much as 1 mn tons of carbon dioxide annually. Adnoc will also explore the possibilities to participate in several DAC and CO2 sequestration facilities in the US that are currently being developed by Occidental\u2019s subsidiary 1PointFive.<\/p>\n<p><strong>OTHER STORIES WORTH KNOWING ABOUT THIS MORNING-<\/strong><\/p>\n<ul>\n<li><strong>Singaporean firm to build a US solar panel factory:<\/strong> Maxeon Solar Technologies will build a 3 GW, USD 1 bn solar cell and panel factory in the US. The company is considering a plan to up the plant\u2019s production capacity to 4.5 GW, and will make a final investment decision later this year. (<a href=\"https:\/\/www.reuters.com\/business\/energy\/solar-panel-maker-maxeon-open-1-billion-us-factory-new-mexico-2023-08-10\/\">Reuters<\/a>)<\/li>\n<li><strong>EV company Zeekr launches a sports car:<\/strong> Geely-owned EV brand <a href=\"https:\/\/zeekr.eu\/\">Zeekr<\/a> is launching its first luxury sports car within weeks, with the first batch to be delivered later this year. The car will sell for over CNY 1 mn (USD 140k). (<a href=\"https:\/\/www.reuters.com\/business\/autos-transportation\/china-ev-brand-zeekr-launch-its-first-luxury-sports-car-2023-08-10\/\">Reuters<\/a>)<\/li>\n<li><strong>Rainforest nations demanding rich countries fulfill pledges:<\/strong> A dozen rainforest countries have formed a pact calling on developed nations to meet an existing pledge to provide USD 200 bn per year for biodiversity preservation and USD 100 bn annually in climate financing. (<a href=\"https:\/\/www.reuters.com\/sustainability\/brazils-lula-seeks-global-rainforest-nation-pact-amazon-summit-2023-08-09\/\">Reuters<\/a>)<\/li>\n<li><strong>Adani ready to go in alone on hydrogen mega-project:<\/strong> Gautam Adani \u2014 founder and chairman of Indian conglomerate Adani Group \u2014 said he is still prepared to invest bns of USD to develop the green hydrogen sector in India after French oil-giant TotalEnergies recently pulled the brakes on a plan to buy 25% of Adani New Industries pending investigation into <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/922f15f5-a014-4c29-807b-501f1bff9be5\">fraud allegations<\/a>. (<a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-08-10\/indian-tycoon-adani-prepared-to-go-solo-on-hydrogen-mega-project?utm_source=google&utm_medium=bd&cmpId=google\">Bloomberg<\/a>)<\/li>\n<li><strong>China emissions hit new record: <\/strong>China recorded a 10% y-o-y rise in its emissions in 2Q, up 1% from record levels in 2021 on the back of increased reliance on coal to make up for weak hydropower output following a historic drought last summer. (<a href=\"https:\/\/www.carbonbrief.org\/analysis-chinas-co2-emissions-in-q2-2023-rebound-to-2021s-record-levels\/\">Carbon Brief<\/a>)<\/li>\n<\/ul>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/around-the-world\/\">AROUND THE WORLD<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/carbon-offsetting\/\">carbon offsetting<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/dac\/\">DAC<\/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\/indonesia\/\">Indonesia<\/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=\"78972\" 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=\"78972\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">10<\/div>\r\n\r\n                    <p class=\"f-graphik\">ON YOUR WAY OUT<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/climate\/2023\/08\/14\/oman-to-produce-900-tons-of-soil-fertilizer-per-year-from-palm-waste\/\">\r\n                            Oman to produce 900 tons of soil fertilizer per year from palm waste                        <\/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\/08\/14\/oman-to-produce-900-tons-of-soil-fertilizer-per-year-from-palm-waste\/\" 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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At a cost of RO 180k (USD 466.8k), the new plant will produce soil fertilizers from palm residue such as leaves and fronds, turning what would have been waste into a cheaper alternative to imported fertilizers. By using a total of around 9k palm trees, the project aims to produce approximately 900 tons of agricultural soil enhancer annually.<\/p>\n<p><strong>How they\u2019re going to do it:<\/strong> The project will need four hectares of land and will follow a seven-stage production process, CEO of the Agricultural Soil Enhancer Production Project Muhammad Al Rawahi explained to Muscat Daily. The process includes collection, cutting of palm waste, drying, chopping, drying again, and finally packaging the product. One palm tree can yield about 100 kg of organic soil enhancer per year.<\/p>\n<p><strong>The benefits: <\/strong>Palm residues contain essential elements such as nitrogen, phosphorus, potassium, magnesium, calcium, and other various microelements that nutrify plants, Al Rawahi said. This is beneficial for a wide diversity of crops, from vegetables and fruits, to natural and aromatic plants, and even ornamental plants. This can help Oman become more self-sufficient and have better competitiveness against imported products, Al Rawahi added.<\/p>\n<p><strong>Why is this important?<\/strong> The global production of fertilizers is responsible for around 1.4% of annual CO2 emissions \u2014 almost equivalent to the emissions of Germany alone, <a href=\"https:\/\/www.carbonbrief.org\/qa-what-does-the-worlds-reliance-on-fertilisers-mean-for-climate-change\/\">Carbon Brief<\/a> reports. IPCC\u2019s sixth assessment report on mitigation published last year found that rising nitrous oxide emissions are \u201cdominated by agriculture, notably from manure application, nitrogen deposition and nitrogen fertilizer use,\u201d Carbon Brief said. Additionally, <a href=\"https:\/\/www.unep.org\/news-and-stories\/press-release\/new-unep-report-provides-actions-minimize-adverse-impacts-health-and\">numerous studies<\/a> link the exposure of traditional pesticides and fertilizers to serious effects to human health such as cancer, effects on reproduction, immune and nervous systems, along with disruptions to vital environmental ecosystems and the spread of aquatic hypoxia or \u201cdead\u201d zones in the oceans where there a <a href=\"https:\/\/oceanservice.noaa.gov\/facts\/deadzone.html\">reduced level of oxygen in the water<\/a>.<\/p>\n<p><strong>Palm is plentiful in our region: <\/strong>If successful, Oman\u2019s program has the potential to spread across the region given the widespread presence of the tree. Saudi Arabia has around<a href=\"https:\/\/gulfnews.com\/world\/gulf\/saudi\/saudi-arabia-bans-palm-tree-planting-in-gardens-to-control-pests-1.82302535\">31 mn palm trees<\/a>, and UAE palm tree supplier <a href=\"https:\/\/datepalmdubai.com\/importance-of-date-palm-trees-for-uae\/\">Date Palm Dubai<\/a> said that the UAE has about 44 mn date palm trees as of 2020. In 2018, Egypt recorded having <a href=\"https:\/\/www.dailynewsegypt.com\/2018\/09\/13\/egypt-starts-planting-2m-palm-trees-of-new-types\/\">15.5 mn palm trees<\/a> planted on an area of 86k feddans.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/fertilizers\/\">fertilizers<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/oman\/\">Oman<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/on-your-way-out\/\">ON YOUR WAY OUT<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/recycling\/\">recycling<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"78974\" 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\/08\/14\/78974\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-78974\" class=\"content-area-description single-story post-78974 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>12-13 September (Tuesday-Wednesday): <a href=\"https:\/\/events.reutersevents.com\/energy-transition\/industry-usa?utm_source=Reuters.com&utm_medium=EventListing&utm_campaign=5903\">Industry Transition 2023<\/a>, Pittsburgh, USA.<\/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>10-11 October (Tuesday-Wednesday): <a href=\"https:\/\/greenenergyafricasummit.com\/home\">Green Energy Africa Summit<\/a>, Cape Town International Convention Centre 2, Cape Town, South Africa.<\/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>25-26 October (Friday-Saturday): <a href=\"https:\/\/events.reutersevents.com\/renewable-energy\/offshore-floating-wind-europe?utm_source=Reuters.com&utm_medium=Event%20Listing%20-%20Energy%20Page\">Offshore & Floating Wind Europe 2023<\/a>, London, United Kingdom.<\/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>1-3 November (Wednesday-Friday): <a href=\"https:\/\/forbesmiddleeastevents.com\/sustainability-leaders-summit\/\">Forbes Middle East Sustainability Leaders Summit 2023<\/a>, Abu Dhabi, UAE.<\/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>DECEMBER 2024<\/strong><\/p>\n<p>2-13 December (Monday-Friday): <a href=\"https:\/\/www.unccd.int\/news-stories\/notifications\/sixteenth-session-unccd-conference-parties-cop-16-riyadh\">Conference of the Parties (COP16) to the United Nation Convention to Combat Desertification<\/a>, Riyadh, KSA.<\/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\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":78951,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-78950","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"8f513aa6-af43-429e-895f-a789252f43c9","teaser":"","photo_url":"https:\/\/ent.news\/2019\/4\/593.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>Masdar snaps up bid to build 1.8 GW sixth phase of UAE\u2019s Al Maktoum solar park - Climate<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/climate\/issues\/masdar-snaps-up-bid-to-build-1-8-gw-sixth-phase-of-uaes-al-maktoum-solar-park\/\" \/>\n<meta property=\"og:locale\" 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