{"id":80018,"date":"2023-10-12T01:00:43","date_gmt":"2023-10-12T01:00:43","guid":{"rendered":"https:\/\/enterpriseam.com\/climate\/?post_type=issue&#038;p=80018"},"modified":"2025-12-15T09:42:27","modified_gmt":"2025-12-15T09:42:27","slug":"ifc-extends-usd-100-mn-loan-to-moroccos-ocp-to-boost-green-fertilizer-production","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/climate\/issues\/ifc-extends-usd-100-mn-loan-to-moroccos-ocp-to-boost-green-fertilizer-production\/","title":{"rendered":"IFC extends USD 100 mn loan to Morocco\u2019s OCP to boost green fertilizer production"},"content":{"rendered":"<section id=\"80020\" 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=\"80020\">\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\/10\/12\/today-moroccos-ocp-secures-usb-100-mn-green-loan-for-greenifying-fertilizer-production-ksas-sirc-launches-jv-for-organic-waste-management\/\">\r\n                            TODAY: Morocco\u2019s OCP secures USB 100 mn green loan for greenifying fertilizer production + KSA\u2019s SIRC launches JV for organic waste management                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul 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             \n<article id=\"post-80020\" class=\"content-area-description single-story post-80020 post type-post status-publish format-standard has-post-thumbnail hentry category-what-were-tracking-today tag-egypt tag-enterpriseclimate tag-evs tag-neom tag-saudi-arabia tag-what-were-tracking-today wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Good morning, ladies and gents.<\/strong> It\u2019s a quiet morning on the climate news front, but there are a few stories emerging from the region worth noting.<\/p>\n<p><strong>THE BIG CLIMATE STORY- <\/strong>The International Finance Corporation will extend a USD 100 mn loan to Moroccan state-owned fertilizer and phosphate giant OCP Group to boost the company\u2019s solar-powered fertilizer production operations.<\/p>\n<p><strong>^^ We have the details on this story and more in the news well, below.<\/strong><\/p>\n<p><strong>THE BIG CLIMATE STORY OUTSIDE THE REGION- There\u2019s no single climate story dominating headlines this morning,<\/strong> but World Bank chief Ajay Banga has called for a removal of some subsidies which cause harm to the environment, <a href=\"https:\/\/www.reuters.com\/business\/environment\/world-banks-banga-calls-removal-subsidies-that-harm-environment-2023-10-11\/\">Reuters<\/a> reports. He urged lowering the USD 1.25 tn poured annually on subsidies for agriculture, fuel and fisheries which would have USD 5 to USD 6 tn of environmental impact. \"I'm not saying to get rid of all of those. I consider some of those subsidies mission-critical to the social contract with the government and its citizens. But I don't believe that USD 1.25 tn qualifies,\" he said on the sidelines of the annual meetings of the IMF and the World Bank in Morocco.<\/p>\n<hr class=\"grey-line\">\n<p><strong><a class=\"content-anchor\" id=\"tldr-story-05\"><\/a><\/strong><strong>WATCH THIS SPACE #1- <\/strong><strong>Egypt has agreed with the Democratic Republic of <\/strong><strong>Congo to build up a 1 GW interconnection project linking Aswan to Inga<\/strong>, according to a document seen by Enterprise Climate. The planned project \u2014 which will have a voltage of 500 kV \u2014 is set to be built over three phases, with the first stage set for next year, the document showed. It is part of a USD 3 bn <a href=\"https:\/\/www.nepad.org\/galleries\/african-continental-master-plan\">African Continental Master Plan<\/a> (CMP) to create one grid for the continent.<\/p>\n<p><strong>And that\u2019s not all: <\/strong>Egypt has reached an agreement with Eritrea to set up two solar plants at a total cost of USD 10.4 mn, the document showed. It did not provide details on the two facilities\u2019 capacities or timelines.<\/p>\n<p><strong>IN OTHER EGYPT NEWS<\/strong><strong>-<\/strong> Egypt\u2019s state-owned El Nasr Automotive is currently in talks with three foreign firms and a local firm to manufacture a traditional vehicle and an electric vehicle in the coming period, <a href=\"https:\/\/tinyurl.com\/mtkch7rs\">Youm 7<\/a> reported, citing statements by El Nasr\u2019s Chairman Khaled Shedid. The negotiations include Chinese Yunlong, which El Nasr is currently in talks with for the manufacture of three electric vehicles, Shedid said.<\/p>\n<p><strong>The country\u2019s EV ambitions are high: <\/strong>While Egypt\u2019s EV industry is still nascent, two auto firms and distributors \u2014 <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/91e40dce-2fd8-44ee-9a94-d83853d42252\">Misr Helwan Automotive<\/a> and <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e7c824ed-2d5a-4251-ab4e-152755d7c179\">Abou Ghaly Motors<\/a>\u2014 introduced EVs to the country\u2019s car market this year. Egypt is supporting <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/ec24ca3c-1d4a-44bb-bc35-f89f02588d07\">Abou Ghaly<\/a> and other private sector players with incentives to get a homegrown EV industry off the ground, with the country\u2019s environment minister expecting the first locally-assembled EVs to roll off <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/ec24ca3c-1d4a-44bb-bc35-f89f02588d07\">production lines in 2024<\/a>. India\u2019s Hinduja Group is expected to sign a final agreement with Egypt to support local EV manufacturing in the country by the end of 4Q 2023, an informed source at Egypt\u2019s Trade and Industry Ministry\u2019s Trade Representation told <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/d4dc76fb-7e3d-4bb2-bcbc-89d4a8a110a3\">Enterprise Climate<\/a> in August. Earlier in May, Hinduja\u2019s commercial vehicle maker Ashok Leyland expressed interest in cooperating with El Nasr to <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/5ed3cfc5-1e04-482a-8599-e2bc7f8da19f\">manufacture commercial EVs<\/a> in Egypt.<\/p>\n<hr class=\"grey-line\">\n<p><strong>WATCH THIS SPACE #2-<\/strong><strong> Neom\u2019s first wind turbines have arrived: <\/strong>The first batch of wind turbines have arrived in Neom\u2019s port with dozens more expected by the year\u2019s end, Neom Green Hydrogen Company CEO David Edmondson told <a href=\"https:\/\/www.barrons.com\/news\/first-wind-turbines-reach-saudi-green-hydrogen-plant-ceo-9ee283c7\">AFP<\/a>on Tuesday. Some 30 turbines are set to be delivered to KSA\u2019s Neom by the end of the year along with the ambitious project\u2019s first solar panels.<\/p>\n<p><strong>Looking ahead: <\/strong>The USD 8.4 bn green hydrogen plant at Neom is set to reach full capacity by the end of 2026, with all of its production set for export, he said. The plant, which achieved financial close <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/3b430e5e-0bba-4e79-b49f-6b1a0240542d\">earlier this year<\/a>, will have a 1.2 mn ton annual production capacity once operational.<\/p>\n<hr class=\"grey-line\">\n<p><strong>DATA POINT-<\/strong><strong> Immediate methane emissions cuts would avert mns of premature deaths:<\/strong> Immediate methane cuts would prevent c. 1 mn premature deaths due to ozone exposure by 2050, the International Energy Agency (IEA) said in a <a href=\"https:\/\/iea.blob.core.windows.net\/assets\/9efb310e-94d7-4c46-817b-9493fe5abb0a\/Theimperativeofcuttingmethanefromfossilfuels.pdf\">report (pdf)<\/a>. The cuts would also prevent 90 mn tons of crop losses, c. 85 bn hours of labor lost due to extreme heat, and help generate c. USD 260 bn in direct economic benefits through 2050. Heavily polluting fossil fuel is likely to hold \u201cthe largest potential for rapid and low-cost reductions in methane emissions,\u201d the report said. Over 80 mn tons of annual methane emissions from fossil fuels can be prevented by 2030 using existing technologies at a low or negative cost.<\/p>\n<hr class=\"grey-line\">\n<div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">\n          Get <b style=\"font-weight: 700\">Enterprise<\/b> daily<br \/>\n        <\/h4>\n<\/p><\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>     <a href=\"climate\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\">Subscribe here<\/a>\n    <\/div>\n<\/p><\/div>\n<\/div>\n<p><p>***<br \/>\n <strong>YOU\u2019RE READING ENTERPRISE CLIMATE, the essential regional publication for senior execs who care about the world\u2019s most important industry. <\/strong>Enterprise Climate covers everything from finance and tech to regulation, products and policy across the Middle East and North Africa. In a nod to the growing geographical ambitions of companies in our corner of the world, we also include an overview of the big trends and data points in nearby countries, including Africa and southern Europe.<\/p>\n<p><strong>Enterprise Climate is published by 5am CLT \/ 5am Riyadh \/ 6am UAE Monday through Thursday by Enterprise<\/strong>, the folks who bring you Enterprise Egypt, your essential 6am and 3pm read on business, finance, policy and economy in Egypt and emerging markets.<\/p>\n<p><strong>EXPLORE MORE OF ENTERPRISE ON THE WEB \u2014<\/strong> <a href=\"http:\/\/www.enterprise.news\">tap or click here<\/a> to read EnterpriseAM, EnterprisePM, and The Weekend Edition on our powerful new website packed with reader-friendly features.<\/p>\n<p><strong><a href=\"https:\/\/climate.enterprise.press\/subscribe\/\">Subscribe to Enterprise Climate here<\/a><\/strong> or reach out to us on <a href=\"mailto:climate@enterprisemea.com\">climate@enterprisemea.com<\/a> with comments, suggestions and story tips.<br \/>\n <strong>***<\/strong><\/p>\n<p><strong>CIRCLE YOUR CALENDAR- <\/strong><\/p>\n<p><strong>The UAE will host the <\/strong><strong><a href=\"https:\/\/worldinvestmentforum.unctad.org\/wif-events-programme\">UNCTAD World Investment Forum<\/a><\/strong><strong> from Monday, 16 October to <\/strong><strong>Friday, 20 October<\/strong> in Abu Dhabi. This year\u2019s theme focuses on sustainable investments, with a diverse range of climate financing sessions on promoting investments in <a href=\"https:\/\/worldinvestmentforum.unctad.org\/session\/promoting-investment-blue-economy\">the blue economy<\/a>, <a href=\"https:\/\/worldinvestmentforum.unctad.org\/session\/investment-agrifood-systems-forum\">agrifood systems<\/a>, <a href=\"https:\/\/worldinvestmentforum.unctad.org\/session\/alignment-investment-sustainable-infrastructure-paris-agreement\">sustainable infrastructure<\/a>, <a href=\"https:\/\/worldinvestmentforum.unctad.org\/session\/carbon-markets\">carbon markets<\/a>, <a href=\"https:\/\/worldinvestmentforum.unctad.org\/session\/investment-trade-and-enterprise-circular-economy\">the circular economy<\/a>, <a href=\"https:\/\/worldinvestmentforum.unctad.org\/session\/strategic-minerals-decarbonisation\">strategic minerals<\/a> for decarbonization, and <a href=\"https:\/\/worldinvestmentforum.unctad.org\/session\/accelerating-green-investments-tourism-sustainable-development\">sustainable tourism<\/a>. Some sessions will tackle reform of financial institutions needed to reach <a href=\"https:\/\/worldinvestmentforum.unctad.org\/session\/net-zero-finance\">net zero<\/a>, such as a session on integrating <a href=\"https:\/\/worldinvestmentforum.unctad.org\/session\/integrating-nature-related-risk-capital-markets\">nature-related risk into capital markets<\/a> and financing an <a href=\"https:\/\/worldinvestmentforum.unctad.org\/session\/financing-equitable-nature-economy\">equitable nature economy<\/a>. <a href=\"https:\/\/worldinvestmentforum.unctad.org\/session\/delivering-public-sector-investment-sustainable-development\">Public sector investments<\/a> and <a href=\"https:\/\/worldinvestmentforum.unctad.org\/session\/stock-exchange-action-climate-disclosures\">stock exchange action<\/a> on climate disclosures will also be discussed.<\/p>\n<p><strong>Oman will host the <\/strong><strong><a href=\"https:\/\/duqm23.opaz.gov.om\/\">Duqm Economic Forum<\/a><\/strong><strong> from Monday, 16 October to Tuesday, 17 <\/strong><strong>October<\/strong> in Duqm. The two-day event \u2014 organized by the Public Authority for Special Economic Zones and FreeZones \u2014 will showcase green investment windows and possible partnerships at the Special Economic Zone at Duqm.<\/p>\n<p><strong>Egypt will host the fourth meeting of the <\/strong><strong><a href=\"https:\/\/unfccc.int\/event\/tc4\">COP27 Transitional Committee<\/a><\/strong><strong> from Tuesday, 17 <\/strong><strong>October to Friday, 20 October <\/strong>in Aswan. The meeting aims to establish institutional arrangements, modalities, governance structures, and terms of reference for the landmark Loss and Damage Fund while expanding sources for climate funding under the program.<\/p>\n<p><strong><a href=\"https:\/\/enterprise.press\/am-edition\/#calendar\">Check out our full calendar on the web<\/a><\/strong> for a comprehensive listing of upcoming news events, national holidays and news triggers.<\/p><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/egypt\/\">Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/evs\/\">EVs<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/neom\/\">Neom<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/saudi-arabia\/\">Saudi Arabia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <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=\"80022\" 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=\"80023\" 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=\"80023\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">2<\/div>\r\n\r\n                    <p class=\"f-graphik\">DEBT WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/climate\/2023\/10\/12\/ifc-extends-usd-100-mn-loan-to-moroccos-ocp-to-boost-green-fertilizer-production\/\">\r\n                            IFC extends USD 100 mn loan to Morocco\u2019s OCP to boost green fertilizer production                        <\/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\/10\/12\/ifc-extends-usd-100-mn-loan-to-moroccos-ocp-to-boost-green-fertilizer-production\/\" 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 solar projects will be supplemented with a BESS facility with a 100 MWh peak storage capacity. OCP aims to use the clean energy it produces from the PV plants to greenify its phosphate mining operations in the two locales.<\/p>\n<p><strong>Why is this important? <\/strong><a href=\"https:\/\/www.ocpgroup.ma\/what-is-phosphate\">Phosphate<\/a> provides a quarter of the nutrients needed for plant growth and development, but mining the chemical elements generates an <a href=\"https:\/\/www.sinab.it\/sites\/default\/files\/Carbon%20footprint%20evaluation%20of%20biofertilizers.pdf\">estimated<\/a><a href=\"https:\/\/www.sinab.it\/sites\/default\/files\/Carbon%20footprint%20evaluation%20of%20biofertilizers.pdf\">1.8 kg<\/a><a href=\"https:\/\/www.sinab.it\/sites\/default\/files\/Carbon%20footprint%20evaluation%20of%20biofertilizers.pdf\">of CO2<\/a> for each kilo produced.<\/p>\n<p><strong>Not the first time:<\/strong> Back in April, the IFC <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/10dcc130-f406-43a0-b23d-06358ad2e6a1\">extended a USD 100 mn credit line<\/a> to the Moroccan company to finance the first phase of OCP\u2019s 1.2 GW solar program, which will involve development of four PV plants, also in Benguerir and Khouribga, with a combined 202 MW power capacity.<\/p>\n<p><strong>And that\u2019s not all: <\/strong>The IFC and OCP launched a USD 800 mn agricultural financing platform to mobilize blended capital in a bid to boost food security across Africa, according to a separate <a href=\"https:\/\/pressroom.ifc.org\/all\/pages\/PressDetail.aspx?ID=27816\">statement<\/a>. The platform aims to strengthen 30 food value chains across the continent through 60 individual agri-financing operations, upskilling farmers and food producers on building resilient food production and distribution networks with a focus on growing crop types compatible with Africa\u2019s climate conditions. The platform has inked a partnership agreement with the Bank of Africa to improve access to fertilizers for African farmers and agri-processors, and has designed projects to support cashew and rice value chains in a number of countries across the continent.<\/p>\n<p><strong>IN OTHER IFC NEWS- More support for sustainable farming in Morocco: <\/strong>The IFC, Morocco\u2019s Banque Centrale Populaire (BCP), and Moroccan agritech company <a href=\"https:\/\/cmgp-cas.com\/\">CMGP<\/a> will establish a USD 36 mn risk sharing facility (RSF) through which BCP will provide green loans the kingdom\u2019s agricultural sector, according to a <a href=\"https:\/\/pressroom.ifc.org\/all\/pages\/PressDetail.aspx?ID=27813\">statement<\/a>. The RSF will lend support to some 30k farmers and SMEs in the country by 2027 to boost capacities for solar-powered irrigation, development of sustainable water management systems, and micro irrigation farming in Morocco.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/debt-watch\/\">DEBT WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/ifc\/\">IFC<\/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\/ocp\/\">OCP<\/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=\"80025\" 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=\"80025\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/climate\/2023\/10\/12\/80025\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-80025\" class=\"content-area-description single-story post-80025 post type-post status-publish format-standard hentry wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p class='web-image'><a href='https:\/\/weareiph.com\/'><img decoding=\"async\" data-recalc-dims=\"1\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/5\/1828.jpg?ssl=1\" alt='enterprise'><\/a><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"80026\" 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=\"80026\">\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\">WASTE MANAGEMENT<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/climate\/2023\/10\/12\/ksas-saudi-investment-recycling-company-establishes-a-jv-for-organic-waste-management\/\">\r\n                            KSA\u2019s Saudi Investment Recycling Company establishes a JV for organic waste management                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/climate\/2023\/10\/12\/ksas-saudi-investment-recycling-company-establishes-a-jv-for-organic-waste-management\/\" 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\/10\/12\/ksas-saudi-investment-recycling-company-establishes-a-jv-for-organic-waste-management\/')\">\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\/10\/12\/ksas-saudi-investment-recycling-company-establishes-a-jv-for-organic-waste-management\/\">\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=KSA\u2019s Saudi Investment Recycling Company establishes a JV for organic waste management&url=https:\/\/enterpriseam.com\/climate\/2023\/10\/12\/ksas-saudi-investment-recycling-company-establishes-a-jv-for-organic-waste-management\/\">\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\/10\/12\/ksas-saudi-investment-recycling-company-establishes-a-jv-for-organic-waste-management\/&title=KSA\u2019s Saudi Investment Recycling Company establishes a JV for organic waste management\">\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=KSA%E2%80%99s+Saudi+Investment+Recycling+Company+establishes+a+JV+for+organic+waste+management+https%3A%2F%2Fenterpriseam.com%2Fclimate%2F2023%2F10%2F12%2Fksas-saudi-investment-recycling-company-establishes-a-jv-for-organic-waste-management%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\/10\/12\/ksas-saudi-investment-recycling-company-establishes-a-jv-for-organic-waste-management\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/10\/1588.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"80027\" data-permalink=\"https:\/\/enterpriseam.com\/climate\/2023\/10\/12\/ksas-saudi-investment-recycling-company-establishes-a-jv-for-organic-waste-management\/1588-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/10\/1588.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1588.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/10\/1588.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/10\/1588.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-80026\" class=\"content-area-description single-story post-80026 post type-post status-publish format-standard has-post-thumbnail hentry category-waste-management tag-edama tag-enterpriseclimate tag-recycling tag-saudi-arabia tag-sirc tag-waste-management wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong><a class=\"content-anchor\" id=\"tldr-story-02\"><\/a>KSA\u2019s SIRC forms a JV for organic waste recycling:<\/strong> The Saudi Investment Recycling Company (SIRC) is forming a JV with KSA\u2019s <a href=\"https:\/\/www.edamasolutions.com\/\">Edama Organic Solutions<\/a> to explore sustainable solutions for organic waste management, according to a <a href=\"https:\/\/www.linkedin.com\/posts\/sircsaudi_aepaesaepaeqaesaedaepaexabraepaesaexaepaeoaezaey-activity-7117783376463323136-K2kr?utm_source=share&utm_medium=member_desktop\">statement<\/a>. The venture aims to convert over 1 mn tons of organic waste into soil amendments \u2014 materials mixed into the upper layer of soil to improve plant growth \u2014 each year, improving soil fertility while minimizing environmental pollution, carbon emissions, and reliance on imported amendments.<\/p>\n<p><strong>Why organic waste recycling?<\/strong> The soil mixes produced by the JV will enhance agricultural productivity, leading to increased local food security and reduced water irrigation requirements, as well as facilitating land reclamation and tree planting projects, according to the <a href=\"https:\/\/www.spa.gov.sa\/N1978028\">Saudi Press Agency<\/a>.<\/p>\n<p><strong>KSA is not the only one looking into investments in the organic waste sector: <\/strong>UAE-based Zero Carbon <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/f6c3663a-78de-409c-9ab4-0adfe8212eb8\">signed an MoU<\/a> in September with Egypt\u2019s Green Planet for a pilot project focused on the treatment and transformation of organic waste into income-generating products.<\/p>\n<p><strong>SIRC has been on a roll: <\/strong>Saudi air carrier Flynas <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/26cd4c29-a533-4ad7-b787-6407df9d9d5f\">signed a collaboration agreement<\/a> with the SIRC last August to develop tech to repurpose the airline\u2019s refuse, including e-waste such as battery cells and biowaste like spent oils. SIRC also signed an agreement with Saudi Arabia\u2019s state-owned National Agricultural Development Company (Nadec) in February to jointly <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/9ba85875-28ad-4cd4-a389-6bbb40367a11\">recycle 400k tons of biowaste<\/a> annually with the goal of converting the refuse into organic fertilizers.<\/p>\n<p><strong>About SIRC: <\/strong>SIRC joined the European Petrochemical Association in August under <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/4f2eddff-e69d-405b-82af-466107aca4c3\">a strategic plan to expand<\/a> its recycling business and bolster cooperation with global counterparts. The recycling firm also has a 60% share in Masab Plastic Factory Company. Earlier this year, the company <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/9a55fec2-1298-424c-8db9-2310b1b71bbc\">landed second<\/a> on the Forbes list of the most innovative firms in environmental sustainability.<\/p>\n<p><strong>About Edama:<\/strong> Edama was established in 2017 as a spin-off company from King Abdullah University of Science and Technology (KAUST), according to its <a href=\"https:\/\/www.edamasolutions.com\/about\">website<\/a>. It is currently the leading company developing organic waste recycling solutions designed specifically for desert environments. Edama\u2019s agricultural products improve the water holding capacity and fertility of sandy soil and supply the booming, water-efficient hydroponics and indoor farming sectors, increasing desert food production and reducing water consumption, the website explains.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/edama\/\">Edama<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/recycling\/\">recycling<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/saudi-arabia\/\">Saudi Arabia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/sirc\/\">SIRC<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/waste-management\/\">waste management<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"80028\" 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=\"80028\">\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\">INVESTMENT WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/climate\/2023\/10\/12\/pif-solidifies-backing-for-ksas-ev-sector-with-new-investment-company-tasaru-mobility-investments\/\">\r\n                            PIF solidifies backing for KSA\u2019s EV sector with new investment company Tasaru Mobility Investments                        <\/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\/10\/12\/pif-solidifies-backing-for-ksas-ev-sector-with-new-investment-company-tasaru-mobility-investments\/\" 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\/10\/12\/pif-solidifies-backing-for-ksas-ev-sector-with-new-investment-company-tasaru-mobility-investments\/')\">\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\/10\/12\/pif-solidifies-backing-for-ksas-ev-sector-with-new-investment-company-tasaru-mobility-investments\/\">\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=PIF solidifies backing for KSA\u2019s EV sector with new investment company Tasaru Mobility Investments&url=https:\/\/enterpriseam.com\/climate\/2023\/10\/12\/pif-solidifies-backing-for-ksas-ev-sector-with-new-investment-company-tasaru-mobility-investments\/\">\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\/10\/12\/pif-solidifies-backing-for-ksas-ev-sector-with-new-investment-company-tasaru-mobility-investments\/&title=PIF solidifies backing for KSA\u2019s EV sector with new investment company Tasaru Mobility Investments\">\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=PIF+solidifies+backing+for+KSA%E2%80%99s+EV+sector+with+new+investment+company+Tasaru+Mobility+Investments+https%3A%2F%2Fenterpriseam.com%2Fclimate%2F2023%2F10%2F12%2Fpif-solidifies-backing-for-ksas-ev-sector-with-new-investment-company-tasaru-mobility-investments%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\/10\/12\/pif-solidifies-backing-for-ksas-ev-sector-with-new-investment-company-tasaru-mobility-investments\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/9\/5670.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"80029\" data-permalink=\"https:\/\/enterpriseam.com\/climate\/2023\/10\/12\/pif-solidifies-backing-for-ksas-ev-sector-with-new-investment-company-tasaru-mobility-investments\/5670-jpg-2\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/9\/5670.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"5670.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/9\/5670.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/9\/5670.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-80028\" class=\"content-area-description single-story post-80028 post type-post status-publish format-standard has-post-thumbnail hentry category-investment-watch tag-enterpriseclimate tag-evs tag-investment-watch tag-pif tag-saudi-arabia wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong><a class=\"content-anchor\" id=\"tldr-story-03\"><\/a><\/strong><strong>PIF establishes new<\/strong><strong> investment company focused on EVs:<\/strong> Saudi Arabia\u2019s sovereign wealth fund the Public Investment Fund (PIF) has launched a new investment company, <a href=\"https:\/\/www.tasaru.com\/\">Tasaru Mobility Investments<\/a>, focused on strengthening the local supply chain for electric and autonomous vehicles, according to a <a href=\"https:\/\/www.pif.gov.sa\/en\/Pages\/NewsDetails.aspx?NewsId-261\/PIF-Establishes-Tasaru-Mobility-Investments-to-Enable-the-Development-of-Saudi-Arabias-Automotive-and-Mobility-Ecosystem\">statement<\/a>. The company will partner with both local and global private sector companies to support the sector\u2019s growth and long-term returns through the localization of manufacturing, increasing the adoption of the latest technologies, supporting research and development, and pursuing sustainable investments in the sector, the statement notes.<\/p>\n<p><strong>Already making inroads in the EV sector: <\/strong>Tasaru is developing an automotive logistics hub in King Abdullah Economic City (KAEC) through a newly established JV with <a href=\"https:\/\/press.us9.list-manage.com\/track\/click?u=3f7bc576715ca1a70edef2788&id=eb1c66114e&e=05dac286dc\">Zamil Group Real Estate Company<\/a>, <a href=\"https:\/\/press.us9.list-manage.com\/track\/click?u=3f7bc576715ca1a70edef2788&id=0e7a0a60b4&e=05dac286dc\">Abdullah Ibrahim Alkhorayef Sons Company<\/a>, and Dar Al-Himmah Projects Company. The JV \u2014 of which Tasaru is the majority shareholder \u2014 aims to supply the aftermarket parts industry through the hub, in line with KAEC\u2019s ambition to become an automotive manufacturing and logistics hub.<\/p>\n<p><strong>Who\u2019s running the new company? <\/strong>Former senior manager at Porsche AG and Volkswagen Group Michael M\u00fcller has been appointed as the CEO Tasaru, bringing more than 25 years of experience in the automotive industry, including heading up both brands in Saudi Arabia, and as well as Porsche in Central and Eastern Europe.<\/p>\n<p><strong>REMEMBER-<\/strong> Earlier this week, PIF and the Saudi Electricity Company (SEC) <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/2db29355-7532-4e33-a2c8-668568d738ad\">launched the Electric Vehicle Infrastructure Company<\/a> to expand fast-charging infrastructure across the kingdom. PIF has also made significant investments in EV manufacturing, including establishing Saudi Arabia\u2019s <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/4c08f92b-a46c-4e3f-8612-fda17753e740\">first national EV brand Ceer<\/a> in partnership with Foxconn, as well as <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/f001c139-291a-40f8-94a0-a23f766f2b5f\">investing in US-based Lucid Motors<\/a>. In September, Lucid announced that it <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/f1a7c6c9-3230-4826-bf42-f40bb8dd47a6\">opened its first international EV plant in Saudi Arabia\u2019s KAEC<\/a> with plans to eventually produce up to 155k vehicles per year.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/evs\/\">EVs<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/investment-watch\/\">INVESTMENT WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/pif\/\">PIF<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/saudi-arabia\/\">Saudi Arabia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"80030\" 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=\"80030\">\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\">SOLAR<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/climate\/2023\/10\/12\/is-the-uae-eyeing-a-solar-energy-project-in-georgia\/\">\r\n                            Is the UAE eyeing a solar energy project in Georgia?                        <\/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\/10\/12\/is-the-uae-eyeing-a-solar-energy-project-in-georgia\/\" 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\/10\/12\/is-the-uae-eyeing-a-solar-energy-project-in-georgia\/')\">\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\/10\/12\/is-the-uae-eyeing-a-solar-energy-project-in-georgia\/\">\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=Is the UAE eyeing a solar energy project in Georgia?&url=https:\/\/enterpriseam.com\/climate\/2023\/10\/12\/is-the-uae-eyeing-a-solar-energy-project-in-georgia\/\">\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\/10\/12\/is-the-uae-eyeing-a-solar-energy-project-in-georgia\/&title=Is the UAE eyeing a solar energy project in Georgia?\">\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=Is+the+UAE+eyeing+a+solar+energy+project+in+Georgia%3F+https%3A%2F%2Fenterpriseam.com%2Fclimate%2F2023%2F10%2F12%2Fis-the-uae-eyeing-a-solar-energy-project-in-georgia%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\/10\/12\/is-the-uae-eyeing-a-solar-energy-project-in-georgia\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/8\/1971.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"80031\" data-permalink=\"https:\/\/enterpriseam.com\/climate\/2023\/10\/12\/is-the-uae-eyeing-a-solar-energy-project-in-georgia\/1971-jpg-14\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/8\/1971.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1971.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/8\/1971.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/8\/1971.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-80030\" class=\"content-area-description single-story post-80030 post type-post status-publish format-standard has-post-thumbnail hentry category-solar tag-enterpriseclimate tag-georgia 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><strong><a class=\"content-anchor\" id=\"tldr-story-04\"><\/a>A proposed pilot project for a solar farm in Georgia is reportedly in the works with the <\/strong><strong>UAE<\/strong>, <a href=\"https:\/\/www.khaleejtimes.com\/business\/uae-georgia-cepa-to-enter-into-force-in-the-first-quarter-of-2024\">Khaleej Times<\/a> reports, citing statements by Georgia's Vice PM and Economy and Sustainable Development Minister Levan Davitashvili. \u201cWe expect significant potential investments from the UAE into Georgia. For example, currently, we are working on renewable energy projects. There is a pilot project for a solar farm in Georgia. Hopefully, we will sign a joint venture agreement within the next month and move to the implementation phase,\u201d he said, without disclosing details on the planned facility.<\/p>\n<p><strong>A UAE-Georgia CEPA is going into implementation early next year:<\/strong> A Comprehensive Economic Partnership Agreement (CEPA) signed between the UAE and Georgia will be effective in the first quarter of next year, according to officials. It comes under a bid to double bilateral non-oil trade to USD 1.5 bn per year during the next five years.<\/p>\n<p><strong>It\u2019s a CEPA bonanza:<\/strong> UAE State Minister for Foreign Trade Thani bin Ahmed Al Zeyoudi said his country is working on finalizing CEPAs with six additional countries by the end of this year. \u201cWe are about to conclude talks with South Korea, and Thailand is almost at the last stages. These agreements will follow those with Costa Rica, Chile, Colombia, and Vietnam. We are also very close to concluding talks with Ukraine,\u201d Al Zeyoudi said. The UAE has rolled out several CEPAs with Turkey, Indonesia, <a href=\"https:\/\/www.moec.gov.ae\/en\/cepa_israel\">Israel<\/a>, and <a href=\"https:\/\/www.moec.gov.ae\/en\/cepa_india\">India<\/a> in recent months.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/georgia\/\">Georgia<\/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=\"80032\" 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=\"80032\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">6<\/div>\r\n\r\n                    <p class=\"f-graphik\">ALSO ON OUR RADAR<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/climate\/2023\/10\/12\/the-uaes-sheraa-sets-up-a-fund-to-invest-in-greentech-startups-mubadala-capital-closes-second-investment-fund-in-brazil-and-ksa-joins-the-global-ccs-institute\/\">\r\n                            The UAE\u2019s Sheraa sets up a fund to invest in greentech startups, Mubadala Capital closes second investment fund in Brazil and KSA joins the Global CCS Institute                        <\/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\/10\/12\/the-uaes-sheraa-sets-up-a-fund-to-invest-in-greentech-startups-mubadala-capital-closes-second-investment-fund-in-brazil-and-ksa-joins-the-global-ccs-institute\/\" 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\/10\/12\/the-uaes-sheraa-sets-up-a-fund-to-invest-in-greentech-startups-mubadala-capital-closes-second-investment-fund-in-brazil-and-ksa-joins-the-global-ccs-institute\/')\">\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\/10\/12\/the-uaes-sheraa-sets-up-a-fund-to-invest-in-greentech-startups-mubadala-capital-closes-second-investment-fund-in-brazil-and-ksa-joins-the-global-ccs-institute\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=The UAE\u2019s Sheraa sets up a fund to invest in greentech startups, Mubadala Capital closes second investment fund in Brazil and KSA joins the Global CCS Institute&url=https:\/\/enterpriseam.com\/climate\/2023\/10\/12\/the-uaes-sheraa-sets-up-a-fund-to-invest-in-greentech-startups-mubadala-capital-closes-second-investment-fund-in-brazil-and-ksa-joins-the-global-ccs-institute\/\">\n                    X           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href=\"https:\/\/api.whatsapp.com\/send?text=The+UAE%E2%80%99s+Sheraa+sets+up+a+fund+to+invest+in+greentech+startups%2C+Mubadala+Capital+closes+second+investment+fund+in+Brazil+and+KSA+joins+the+Global+CCS+Institute+https%3A%2F%2Fenterpriseam.com%2Fclimate%2F2023%2F10%2F12%2Fthe-uaes-sheraa-sets-up-a-fund-to-invest-in-greentech-startups-mubadala-capital-closes-second-investment-fund-in-brazil-and-ksa-joins-the-global-ccs-institute%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\/10\/12\/the-uaes-sheraa-sets-up-a-fund-to-invest-in-greentech-startups-mubadala-capital-closes-second-investment-fund-in-brazil-and-ksa-joins-the-global-ccs-institute\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/10\/1589.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"80033\" data-permalink=\"https:\/\/enterpriseam.com\/climate\/2023\/10\/12\/the-uaes-sheraa-sets-up-a-fund-to-invest-in-greentech-startups-mubadala-capital-closes-second-investment-fund-in-brazil-and-ksa-joins-the-global-ccs-institute\/1589-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/10\/1589.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1589.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/10\/1589.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/10\/1589.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-80032\" class=\"content-area-description single-story post-80032 post type-post status-publish format-standard has-post-thumbnail hentry category-also-on-our-radar tag-also-on-our-radar tag-biofuels tag-enterpriseclimate tag-green-tech tag-mubadala tag-startups tag-uae wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>GREEN INVESTMENT-<\/strong><\/p>\n<p><strong><a class=\"content-anchor\" id=\"tldr-story-06\"><\/a><\/strong><strong>UAE\u2019s Sheraa launches investment fund for greentech startups:<\/strong> UAE state-backed <a href=\"https:\/\/sheraa.ae\/\">Sharjah Entrepreneurship Centre<\/a> (Sheraa) is launching a fund to invest in potential start-ups in a number of sectors, including clean technology and sustainability, the center\u2019s chief executive Najla Al Midfa told <a href=\"https:\/\/www.thenationalnews.com\/business\/economy\/2023\/10\/11\/sharjahs-sheraa-aims-to-set-up-fund-to-invest-in-potential-start-ups-ceo-says\/\">The National<\/a>. The center aims to finance sectors that do not draw enough attention from venture capitalists. \u201cWe are here to fill [the] funding gaps \u2026[we are] developing an ecosystem to connect those potential dots that are disruptive but ignored by others,\u201d Al Midfa said, adding that the size of the fund is yet to be determined but will be \u201cbig enough to make some reasonable size investment.\u201d<\/p>\n<p><strong>About Sheraa:<\/strong> Sheraa has supported over 160 start-ups in raising a cumulative USD 160 mn in capital and generated over USD 200 mn in revenue by linking them with its corporate partners which include Air Arabia, Crescent Enterprises, Sharjah Media City and Sharjah Research, Technology and Innovation Park. The success rate of Sheraa-incubated start-ups is nearly 70% on average.<\/p>\n<hr class=\"grey-line\">\n<p><strong>Mubadala Capital closes its second Brazil investment fund: <\/strong>UAE\u2019s Mubadala Capital \u2014 the USD 20 bn asset management arm of the Mubadala Investments \u2014 has secured financial commitments over USD 710 mn for the launch of its second investment fund in Brazil, <a href=\"https:\/\/wam.ae\/en\/details\/1395303207896\">Wam<\/a> reports. Mubadala did not specify the sources from which it has raised the capital, but the news agency notes \u201ca leading public pension fund, family offices, corporates, private equity funds, and asset managers across North America, Europe, the Middle East, and Asia\u201d were among the investors. Mubadala Capital plans to invest USD 1 bn annually in Brazil in majority shareholder positions in already mature companies beyond the USD 5 bn it has already channeled toward investments in the country, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-10-10\/abu-dhabi-s-mubadala-plans-to-invest-1-billion-a-year-in-brazil\">Bloomberg<\/a> quotes head of Mubadala Capital in Brazil Oscar Fahlgren as saying. The Abu Dhabi fund last year closed its first investment fund in the country, raising <a href=\"https:\/\/www.thenationalnews.com\/business\/2022\/02\/14\/mubadala-capital-closes-first-investment-fund-in-brazil\/\">a total of USD 322 mn<\/a> from a range of international investors.<\/p>\n<p><strong>Mubadala Capital is looking to tap Brazil\u2019s biofuels and SAF:<\/strong> Mubadala <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/dae8161d-fbfd-499b-8662-1904417ea372\">signed an agreement<\/a> with Brazilian state-owned energy giant Petrobras to explore potential partnership in a Mubadala biofuel project under development also in Bahia last month. The firm also plans to <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/edcbe24f-803d-4fee-a975-fdaaac2b7dac\">acquire a 31.5% stake<\/a> in Brazilian sugarcane processor Atvos later this year or early next year. Back in April, Mubadala-backed Accelen said it will <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/ac1098d0-3295-4398-9861-49732b818009\">invest up to USD 2.4 bn<\/a> over the next 10 years to produce green diesel and sustainable aviation fuel in Brazil from a hydrotreated vegetable oil (HVO), biorefinery in the country\u2019s northeastern state of Bahia, which will have an annual 1 bn liter production capacity once operational in 2026.<\/p>\n<p><strong>CARBON CAPTURE & STORAGE-<\/strong><\/p>\n<p><strong>KSA joins in Global CCS:<\/strong> Saudi Arabia joined the international think tank <a href=\"https:\/\/www.globalccsinstitute.com\/\">Global CCS Institute<\/a> to help with efforts aimed at advancing carbon capture and storage technology globally, <a href=\"https:\/\/www.spa.gov.sa\/en\/N1978012\">SPA<\/a> reports. The kingdom is set to work closely with Global CCS on the technology\u2019s capacity building. \u201cGetting ambitious climate projects off the ground will require partnerships and region-specific expertise and knowledge, and being a member of the Global CCS Institute will enhance that further\u201d,\u201d Saudi Energy Minister Prince Abdulaziz bin Salman said.<\/p>\n<p><strong>REMEMBER- The Saudis are planning big on CCS:<\/strong> Saudi Aramco <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/45bcc40a-f62b-4d33-a403-be824029ee65\">signed an agreement<\/a> in November to build one of the world\u2019s largest carbon capture and storage hubs with the capacity to store up to 9 mn tons of carbon dioxide a year by 2027. The facility, which will be located in Jubail, will see 44 mn tons of CO2 mitigated annually by 2035.<\/p>\n<p><strong>OTHER STORIES WORTH KNOWING ABOUT THIS MORNING-<\/strong><\/p>\n<ul>\n<li><strong>ADIB, DHL <\/strong><strong>team up on sustainable logistics: <\/strong>Abu Dhabi Islamic Bank will sign up to DHL\u2019s sustainability solution <a href=\"https:\/\/www.dhlexpress.nl\/en\/about-us\/mission\/gogreen\/green-shipping\">GoGreen Plus<\/a> in a bid to lower emissions associated with their shipments by using sustainable aviation fuel (SAF). (<a href=\"https:\/\/www.zawya.com\/en\/press-release\/companies-news\/adib-partners-with-dhl-to-lead-sustainable-transformation-in-logistics-dfjsvy4r\">Statement<\/a>)<\/li>\n<\/ul>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/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\/biofuels\/\">biofuels<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/green-tech\/\">green tech<\/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\/startups\/\">startups<\/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=\"80034\" 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=\"80034\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">7<\/div>\r\n\r\n                    <p class=\"f-graphik\">AROUND THE WORLD<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/climate\/2023\/10\/12\/italys-engineering-firm-rina-begins-development-of-its-100-hydrogen-powered-steel-facility-for-open-testing\/\">\r\n                            Italy\u2019s engineering firm Rina begins development of its 100% hydrogen-powered steel facility for open testing                        <\/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\/10\/12\/italys-engineering-firm-rina-begins-development-of-its-100-hydrogen-powered-steel-facility-for-open-testing\/\" 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\/10\/12\/italys-engineering-firm-rina-begins-development-of-its-100-hydrogen-powered-steel-facility-for-open-testing\/')\">\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\/10\/12\/italys-engineering-firm-rina-begins-development-of-its-100-hydrogen-powered-steel-facility-for-open-testing\/\">\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=Italy\u2019s engineering firm Rina begins development of its 100% hydrogen-powered steel facility for open testing&url=https:\/\/enterpriseam.com\/climate\/2023\/10\/12\/italys-engineering-firm-rina-begins-development-of-its-100-hydrogen-powered-steel-facility-for-open-testing\/\">\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\/10\/12\/italys-engineering-firm-rina-begins-development-of-its-100-hydrogen-powered-steel-facility-for-open-testing\/&title=Italy\u2019s engineering firm Rina begins development of its 100% hydrogen-powered steel facility for open testing\">\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=Italy%E2%80%99s+engineering+firm+Rina+begins+development+of+its+100%25+hydrogen-powered+steel+facility+for+open+testing+https%3A%2F%2Fenterpriseam.com%2Fclimate%2F2023%2F10%2F12%2Fitalys-engineering-firm-rina-begins-development-of-its-100-hydrogen-powered-steel-facility-for-open-testing%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\/10\/12\/italys-engineering-firm-rina-begins-development-of-its-100-hydrogen-powered-steel-facility-for-open-testing\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/10\/1590.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"80035\" data-permalink=\"https:\/\/enterpriseam.com\/climate\/2023\/10\/12\/italys-engineering-firm-rina-begins-development-of-its-100-hydrogen-powered-steel-facility-for-open-testing\/1590-jpg-2\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/10\/1590.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1590.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/10\/1590.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/10\/1590.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-80034\" class=\"content-area-description single-story post-80034 post type-post status-publish format-standard has-post-thumbnail hentry category-around-the-world tag-around-the-world tag-enterpriseclimate tag-green-steel tag-italy tag-rina wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>Rina begins construction on its green steel open testing facility:<\/strong> Italian-based engineering research and consulting firm Rina has officially kicked-off its six-year EUR 88 mn Hydra project which aims to build a fully hydrogen-powered green steel plant to be used as an open testing facility for steel makers around the world, according to a <a href=\"https:\/\/www.rina.org\/en\/media\/press\/2023\/10\/10\/hydra-project-drive-near-zero-emissions\">statement<\/a>. The hydrogen-fuelled pilot plant will comprise a 30 meter high <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/a1a4b0f8-0acb-4106-9395-81be478d0947\">direct iron ore reduction<\/a> (DRI) tower \u2014 where metallic iron is produced \u2014 an electric arc furnace (EAF), and a reheating furnace that will all operate with near zero emissions for the production of all types of \u201cgreen steel\u201d. Each ton of manufactured steel produces 0.68 tonnes of CO2 emissions when using an EAF, compared to 2 tons if traditional blast furnaces were used. The open research Hydra project aims to reduce emissions to kgs of CO2 per ton of steel.<\/p>\n<p><strong>How will they do it? <\/strong>The DRI tower will initially run on natural gas, which will gradually be blended with hydrogen in parallel to running quality tests, until the tower can effectively run on 100% hydrogen. The tests will help identify the material and infrastructure needed for the steel industry to use hydrogen in production.<\/p>\n<p><strong>Rina is interested in the region\u2019s potential hydrogen supply:<\/strong> Rina ran <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/e6689c03-4c23-4503-8b5f-b2364dec409d\">a study on a proposed GCC-Europe hydrogen pipeline<\/a> running from Qatar to Europe via Saudi Arabia, Egypt and the Mediterranean Sea in July. Based on Rina\u2019s calculations, the pipeline could deliver green and blue hydrogen to Europe at a levelized cost of around EUR 2.7 per kg by 2030, later decreasing to EUR 2.3 per kg. Rina also <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/e8fcf5eb-ff41-4285-b897-01edc82a813a\">signed an agreement<\/a> with Acwa Power in September to explore hydrogen\u2019s potential use for sea-borne shipping.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/around-the-world\/\">AROUND THE WORLD<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/green-steel\/\">GREEN STEEL<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/italy\/\">Italy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/rina\/\">Rina<\/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=\"80036\" 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=\"80036\">\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\">CLIMATE IN THE NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/climate\/2023\/10\/12\/el-nino-and-climate-change-are-threatening-global-cocoa-supplies\/\">\r\n                            El Ni\u00f1o and climate change are threatening global cocoa supplies                        <\/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\/10\/12\/el-nino-and-climate-change-are-threatening-global-cocoa-supplies\/\" 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\/10\/12\/el-nino-and-climate-change-are-threatening-global-cocoa-supplies\/')\">\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\/10\/12\/el-nino-and-climate-change-are-threatening-global-cocoa-supplies\/\">\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=El Ni\u00f1o and climate change are threatening global cocoa supplies&url=https:\/\/enterpriseam.com\/climate\/2023\/10\/12\/el-nino-and-climate-change-are-threatening-global-cocoa-supplies\/\">\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\/10\/12\/el-nino-and-climate-change-are-threatening-global-cocoa-supplies\/&title=El Ni\u00f1o and climate change are threatening global cocoa supplies\">\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=El+Ni%C3%B1o+and+climate+change+are+threatening+global+cocoa+supplies+https%3A%2F%2Fenterpriseam.com%2Fclimate%2F2023%2F10%2F12%2Fel-nino-and-climate-change-are-threatening-global-cocoa-supplies%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\/10\/12\/el-nino-and-climate-change-are-threatening-global-cocoa-supplies\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/10\/1591.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"80037\" data-permalink=\"https:\/\/enterpriseam.com\/climate\/2023\/10\/12\/el-nino-and-climate-change-are-threatening-global-cocoa-supplies\/1591-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/10\/1591.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1591.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/10\/1591.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/10\/1591.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-80036\" class=\"content-area-description single-story post-80036 post type-post status-publish format-standard has-post-thumbnail hentry category-climate-in-the-news tag-agriculture tag-climate-change tag-climate-in-the-news tag-enterpriseclimate wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong><a class=\"content-anchor\" id=\"tldr-story-07\"><\/a><\/strong><strong>Winter evenings are about to get sad<\/strong><strong>: <\/strong>The scant precipitation levels and dry conditions associated with the <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/680f2e7e-93a5-401f-8562-ffdd0456b34b\">El Ni\u00f1o weather phenomenon<\/a>, coupled with the effects of climate change, threaten the productivity of the world\u2019s major cocoa production centers and will likely drive cocoa producers to seek green pastures in higher altitude regions, <a href=\"https:\/\/www.cnbc.com\/2023\/10\/10\/cocoa-farmers-face-mounting-challenges-as-el-nino-rages-on.html\">CNBC<\/a> writes. El Ni\u00f1o is expected to last through to March 2024 with a <a href=\"https:\/\/www.cpc.ncep.noaa.gov\/products\/analysis_monitoring\/enso_advisory\/ensodisc.html\">71% chance<\/a> of intensification from November to January and the impact climate change is having on agricultural output is already sending cocoa price tags to their <a href=\"https:\/\/www.reuters.com\/markets\/commodities\/farmers-plant-more-cocoa-outside-africa-prices-rally-2023-10-02\/#:~:text=The%20rally%20in%20prices%20to,in%20the%20global%20cocoa%20market.\">highest levels in 50 years<\/a>.<\/p>\n<p><strong>Driving cocoa farmers to higher altitudes:<\/strong> Rising temperatures and an intensified El Ni\u00f1o cyclical pattern will render cocoa farmlands infertile by 2050 and force farmers to seek out more arable lands uphill, \u201cor some may decide to leave cocoa cultivation altogether,\u201d according to research by the <a href=\"https:\/\/urldefense.com\/v3\/__https:\/www.climate.gov\/news-features\/climate-and\/climate-chocolate__;!!PIZeeW5wscynRQ!sWdlBAtpFGRrAp77MK_zxJXQm4c3UXua7glBDzmh-Irr5C0mmmGMJTFSZfUUgQ-kenJ0VrAE5WJB5PU$\">National Oceanic and Atmospheric Administration<\/a>. The farmland suitable for cacao trees in the world\u2019s largest production regions of C\u00f4te d'Ivoire and Ghana is expected to rise uphill to between 450\u2013500 meters above sea level from the current optimal cultivation levels of 100\u2013250 meters, according to the report.<\/p>\n<p><strong>Mitigation efforts will have to be boosted:<\/strong> Climate mitigation efforts will have to triple by 2030 and quadruple by 2050 to <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/aa8fb93f-4524-45ce-b7c6-750f7041513d\">mitigate the impact El Ni\u00f1o<\/a> on cocoa production centers, translating to a cumulative investment of up to USD 8.1 tn by mid-century, Kerry Daroci, the cocoa sector lead at the Rainforest Alliance, told CNBC, citing <a href=\"https:\/\/urldefense.com\/v3\/__https:\/www.unep.org\/resources\/state-finance-nature-2021__;!!PIZeeW5wscynRQ!sWdlBAtpFGRrAp77MK_zxJXQm4c3UXua7glBDzmh-Irr5C0mmmGMJTFSZfUUgQ-kenJ0VrAEEgb75Wo$\">research<\/a> by the United Nations Environment Programme.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/agriculture\/\">agriculture<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/climate-change\/\">climate change<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/climate-in-the-news\/\">CLIMATE IN THE NEWS<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"80038\" 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\/10\/12\/80038\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-80038\" class=\"content-area-description single-story post-80038 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>OCTOBER 2023<\/strong><\/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>16-17 October (Monday-Tuesday): <a href=\"https:\/\/duqm23.opaz.gov.om\/\">Duqm Economic Forum<\/a>, Duqm, Oman.<\/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>16-20 October (Monday-Friday): <a href=\"https:\/\/worldinvestmentforum.unctad.org\/wif-events-programme\">UNCTAD World Investment Forum<\/a>, Abu Dhabi, UAE.<\/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>17-19 October (Tuesday-Thursday): <a href=\"https:\/\/www.energyintelligenceforum.com\/\">Energy Intelligence Forum<\/a>, London, UK.<\/p>\n<p>17-20 October (Tuesday-Friday): <a href=\"https:\/\/unfccc.int\/event\/tc4\">Fourth meeting of the COP27 Transitional Committee<\/a>, Aswan, Egypt.<\/p>\n<p>25-26 October (Friday-Saturday): <a href=\"https:\/\/events.reutersevents.com\/renewable-energy\/offshore-floating-wind-europe\">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>29 -31 October (Sunday-Tuesday): <a href=\"https:\/\/www.egypt-energy.com\/en\/home.html\">Egypt Energy Conference<\/a>, Egypt International Exhibition Centre, Cairo, Egypt.<\/p>\n<p>30 October - 1 November (Monday-Wednesday) <a href=\"https:\/\/www.facebook.com\/photo\/?fbid=704453251719392&set=a.356736726491048\">ISWA 2023 World Congress:<\/a> Global action towards a net-zero future, Muscat, Oman.<\/p>\n<p>31 October-2 November (Tuesday-Thursday): <a href=\"https:\/\/energytransitions.live.ft.com\/\">Financial Times\u2019 Energy Transition Summit<\/a>, London, UK.<\/p>\n<p>31 October-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>7-8 November (Tuesday-Wednesday): <a href=\"https:\/\/wam.ae\/en\/details\/1395303196450\">ADIA Lab Symposium on Climate Change and Health Sciences<\/a>, Abu Dhabi, UAE.<\/p>\n<p>7-8 November (Tuesday-Wednesday): <a href=\"https:\/\/us-algeria-energy-and-investment.org\/\">The 2023 US Algeria Energy Forum<\/a>, Washington DC, USA.<\/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>11-13 November (Saturday-Monday): <a href=\"https:\/\/gcc-turkiye.net\/\">GCC-T&uuml;rkiye Economic Forum<\/a>, Istanbul, Turkey.<\/p>\n<p>15-17 November (Wednesday-Friday): <a href=\"https:\/\/www.wetex.ae\/\">WETEX and Dubai Solar Show,<\/a> Dubai, UAE.<\/p>\n<p>15-18 November (Wednesday-Saturday): DEWA\u2019s <a href=\"https:\/\/mediaoffice.ae\/en\/news\/2023\/May\/07-05\/DEWA-MENA-Solar-Conference\">First MENA Solar Conference<\/a>, Dubai, UAE.<\/p>\n<p>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>28-29 November (Tuesday-Wednesday): <a href=\"https:\/\/wges.ae\/\">World Green Economy Summit (WGES)<\/a>, Dubai, 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>4 December (Monday): <a href=\"https:\/\/www.greeninitiatives.gov.sa\/news-and-announcements\/third-edition-of-saudi-green-initiative-forum-to-take-place-during-cop28\/\">Saudi Green Initiative Forum<\/a>, Dubai, UAE.<\/p>\n<p>4 December (Monday): <a href=\"https:\/\/abudhabisustainabilityweek.com\/en\/Media\/News\/ADSW-to-Host-Special-Edition-at-COP28\">Abu Dhabi Sustainability Week (ADSW) summit<\/a>, Dubai, UAE.<\/p>\n<p>8 December (Friday): <a href=\"https:\/\/masdar.ae\/Strategic-Platforms\/Youth-4-Sustainability\/Youth-4-Sustainability-Hub\">Youth for Sustainability Forum (Y4S)<\/a>, Dubai, UAE.<\/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>JANUARY 2024<\/strong><\/p>\n<p>9-11 January (Tuesday-Thursday): <a href=\"https:\/\/www.futuremineralsforum.com\/\">Future Minerals Forum<\/a>, 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>MARCH 2024<\/strong><\/p>\n<p>4-6 March (Monday-Wednesday): <a href=\"https:\/\/dust.ncm.gov.sa\/register\/\">International Conference on Sand and Dust Storms in the Arabian Peninsula<\/a>, Riyadh, Saudi Arabia.<\/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>MAY 2024<\/strong><\/p>\n<p>19-21 May (Sunday-Tuesday): <a href=\"https:\/\/www.saudienergyconvention.com\/\">Saudi Energy Convention<\/a>, Riyadh, KSA.<\/p>\n<p><strong>JUNE 2024<\/strong><\/p>\n<p>5 June (Wednesday): <a href=\"https:\/\/www.unep.org\/news-and-stories\/press-release\/saudi-arabia-host-world-environment-day-2024-focus-land-restoration\">World Environment Day<\/a>, Saudi Arabia.<\/p>\n<p><strong>OCTOBER 2024<\/strong><\/p>\n<p>10-12 October (Tuesday-Thursday): <a href=\"https:\/\/aemobforum.com\/\">Autonomous E-Mobility Forum<\/a>, Doha, Qatar.<\/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>12-14 February (Monday-Wednesday): <a href=\"https:\/\/www.safcongressmena.com\/\">Sustainable Aviation Futures MENA Congress<\/a>, Dubai, UAE.<\/p>\n<p>End-2024: Emirati <a href=\"http:\/\/ar.ae\">Masdar<\/a>\u2019s 500 MW wind farm in Uzbekistan to <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/13a804af-a659-4152-82b2-a3c920862f2b\">begin commercial operations<\/a>.<\/p>\n<p><a href=\"https:\/\/www.qatarenergy.qa\/en\/Pages\/Home.aspx\">QatarEnergy<\/a>\u2019s industrial cities solar power project <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/afa55bc3-dec6-4f46-b806-25518b05cda1\">will start electricity<\/a> production.<\/p>\n<p><strong>2025 <\/strong><\/p>\n<p><a href=\"https:\/\/www.iucn.org\/our-union\/iucn-world-conservation-congress\">International Union for Conservation of Nature World Conservation Congress<\/a>, Abu Dhabi, UAE.<\/p>\n<p>UAE to <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/9ec60000-0539-4d85-baf5-5beaf020a34f\">have over 1k<\/a> EV charging stations installed.<\/p>\n<p><strong>2026 <\/strong><\/p>\n<p><a href=\"https:\/\/uitpsummit.org\/\">UITP Global Public Transport Summit<\/a>, Dubai, UAE.<\/p>\n<p>1Q 2026: <a href=\"https:\/\/www.qatarenergy.qa\/en\/Pages\/Home.aspx\">QatarEnergy<\/a>\u2019s USD 1 bn blue ammonia plant <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/77469f6c-f938-4a97-8cac-3146b39b6cbe\">to be completed<\/a>.<\/p>\n<p>End-2026: HSBC Bahrain to <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/a2ead528-71fb-423b-a6f8-e18b2c9897d8\">eliminate single-use<\/a> PVC plastic cards.<\/p>\n<p><strong>2027<\/strong><\/p>\n<p>MENA\u2019s district cooling market is <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/59376411-8296-47dc-87cc-43ddc792bba4\">expected to reach<\/a> USD 15 bn.<\/p>\n<p><strong>2030 <\/strong><\/p>\n<p>UAE\u2019s Abu Dhabi Commercial Bank (ADCB) wants to <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/ea65a4f2-e77c-426b-8ad0-9120704954f6\">provide AED 35 bn<\/a> in green financing.<\/p>\n<p>UAE <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/a9c832ed-f423-479e-884d-90cabefe3a0b\">targets 14 GW<\/a> in clean energy capacity.<\/p>\n<p>Tunisia <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/7c5659c7-cf17-4cd6-9d18-c8afb5c643fb\">targets 30%<\/a> of renewables in its energy mix.<\/p>\n<p>Qatar wants to <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/7881b1d2-724a-4914-ba85-0545e72901c9\">generate USD 17 bn<\/a> from its circular economy, creating 9k-19k jobs.<\/p>\n<p>Morocco\u2019s <a href=\"https:\/\/xlinks.co\/morocco-uk-power-project\/\">Xlinks<\/a> solar and wind energy project to <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/52aefc63-82e3-42e3-8afc-960461fa5288\">generate 10.5 GW<\/a> of energy.<\/p>\n<p><strong>2035 <\/strong><\/p>\n<p>Qatar to <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/77469f6c-f938-4a97-8cac-3146b39b6cbe\">capture up to 11 mn tons<\/a> of CO2 annually.<\/p>\n<p><strong>2045 <\/strong><\/p>\n<p>Qatar\u2019s Public Works Authority\u2019s (Ashghal) USD 1.5 bn sewage treatment facility to reach 600k cm\/d capacity.<\/p>\n<p><strong>2050<\/strong><\/p>\n<p><a href=\"https:\/\/www.facebook.com\/Presidencedugouvernementtunisien\/posts\/pfbid02urYKuUDF91i7dtVRR3yrSFzM4p5aG1JUormqfgnbjuUMTSGzmL2DrY8Z7wyfA7vBl?locale=ar_AR\">Tunisia\u2019s carbon neutrality target<\/a>.<\/p>\n<p><strong>2060 <\/strong><\/p>\n<p>Nigeria aims to <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/ea65a4f2-e77c-426b-8ad0-9120704954f6\">achieve its net-zero<\/a> emissions target.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n","protected":false},"excerpt":{"rendered":"","protected":false},"featured_media":80019,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-80018","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"baa82e71-84a6-4b49-bb53-fc1ff63d8e52","teaser":"","photo_url":"https:\/\/ent.news\/2021\/10\/269.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>IFC extends USD 100 mn loan to Morocco\u2019s OCP to boost green fertilizer production - 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\/ifc-extends-usd-100-mn-loan-to-moroccos-ocp-to-boost-green-fertilizer-production\/\" \/>\n<meta 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