{"id":81405,"date":"2023-12-21T07:00:00","date_gmt":"2023-12-21T07:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/climate\/?post_type=issue&#038;p=81405"},"modified":"2025-12-15T10:05:11","modified_gmt":"2025-12-15T10:05:11","slug":"acwa-power-set-to-build-a-usd-4-bn-green-hydrogen-project-in-egypts-sczone","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/climate\/issues\/acwa-power-set-to-build-a-usd-4-bn-green-hydrogen-project-in-egypts-sczone\/","title":{"rendered":"Acwa Power set to build a USD 4 bn green hydrogen project in Egypt\u2019s SCZone"},"content":{"rendered":"<section id=\"81407\" 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=\"81407\">\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\/12\/21\/today-another-mega-green-hydrogen-plant-for-acwa-power\/\">\r\n                            TODAY: Another mega green hydrogen plant for Acwa Power                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/climate\/2023\/12\/21\/today-another-mega-green-hydrogen-plant-for-acwa-power\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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Despite the lull, there\u2019s some significant news to dig into from Acwa Power\u2026<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>THE BIG CLIMATE STORY- <\/strong>Renewables giant Acwa Power inked an agreement with the Egyptian government to develop a large-scale two-phase green hydrogen and ammonia project in the Suez Canal Economic Zone.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">^^ We have the details on this story and more in the news well, below.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>THE BIG CLIMATE STORY OUTSIDE THE REGION- Orsted greenlights world\u2019s largest offshore wind <\/strong><strong>farm<\/strong><strong>: <\/strong>Danish renewables company Orsted approved development of the 2.9 GW Hornsea 3 wind farm off the coast of the UK yesterday, planning to complete the project by the end of 2027 at an expected GBP 8 bn (c. USD 10.1 bn) price tag. Once completed, the power plant will generate enough clean power to meet the energy demands of some 3.3 mn UK households, making it the world\u2019s largest offshore farm. Orsted\u2019s shares surged 5% on news of its final investment decision on the project. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The story made headlines in the international press:<\/strong><a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-12-20\/orsted-makes-investment-decision-for-hornsea-3-uk-wind-farm\" style=\"\" rel=\"noopener\">Bloomberg<\/a> | <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/energy\/orsted-makes-final-investment-decision-mega-hornsea-3-north-sea-wind-farm-2023-12-20\/\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/0369ba5f-f34d-46f8-ac27-ee18fe7dbedb\" style=\"\" rel=\"noopener\">The Financial Times<\/a> <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt1\"><\/a><strong>WATCH <\/strong><strong>THIS SPACE #1- GERD talks end in deadlock yet again:<\/strong> The fourth and final round of talks between Egypt, Sudan, and Ethiopia on the Grand Ethiopian Renaissance Dam (GERD) ended in deadlock, according to a <a target=\"_blank\" href=\"https:\/\/bitly.ws\/36GPJ\" style=\"\" rel=\"noopener\">statement<\/a>. The final round of talks aimed to finalize a framework agreement for the filling and operation of the GERD within four months, but no consensus was reached as Ethiopia refused any technical or legal compromise, the statement added. The three countries have failed during years-long negotiations to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/eb464c30-c3fd-4da8-b4a4-b5b69bcfc07f\" style=\"\" rel=\"noopener\">reach any agreement<\/a> on how to share the Nile\u2019s water. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Why is this important?<\/strong> The <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/eb464c30-c3fd-4da8-b4a4-b5b69bcfc07f\" style=\"\" rel=\"noopener\">unilateral filling of the dam's reservoir<\/a> without a binding agreement poses an existential threat to its water security, <a target=\"_blank\" href=\"https:\/\/www.frontiersin.org\/journals\/water\/articles\/10.3389\/frwa.2022.964688\/full\" style=\"\" rel=\"noopener\">directly affecting agriculture<\/a>, as it disregards the interests, rights, and water security of downstream countries Egypt and Sudan. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a id=\"wwtt2\"><\/a>WATCH THIS SPACE #2- Egypt approves a EUR 500k green grant from <\/strong><strong>EIB<\/strong><strong>: <\/strong>The Egyptian cabinet approved a draft decision to regarding a cooperation agreement on the dispensation of a EUR 500k green grant extended by the European Investment Bank to help realize the targets of the country\u2019s <a target=\"_blank\" href=\"https:\/\/www.eib.org\/en\/projects\/all\/20210635\" style=\"\" rel=\"noopener\">Green Sustainable Industry<\/a> (GSI) project, according to a cabinet <a target=\"_blank\" href=\"https:\/\/psee.io\/5gp76j\" style=\"\" rel=\"noopener\">statement<\/a>. Funds from the newly approved EUR 500k grant will be channeled toward financing consultation services on green investment plans for the decarbonization of hard-to-abate industries via the use of green hydrogen, renewables and biogas, the statement notes. The GSI project \u2014 covered by the EU Guarantee for EIB loans outside the EU \u2014 was established last year with the aim of funneling green loans and grants to finance pollution abatement, decarbonisation, energy and resource efficiency projects for both public and private industrial companies in Egypt, and the programme is expected to cost nearly EUR 271 mn, the lender notes. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt2\"><\/a><strong>WATCH THIS SPACE #3- KSA is assessing the irradiation potential: <\/strong>Saudi Arabia is currently assessing the solar irradiation potential of 1.2k tracts of land across the country to locate areas that would reap the highest solar energy efficiency, <a target=\"_blank\" href=\"https:\/\/aawsat.com\/%D8%A7%D9%84%D8%A7%D9%82%D8%AA%D8%B5%D8%A7%D8%AF\/4740051-%D8%A7%D9%84%D8%A3%D9%85%D9%8A%D8%B1-%D8%B9%D8%A8%D8%AF-%D8%A7%D9%84%D8%B9%D8%B2%D9%8A%D8%B2-%D8%A8%D9%86-%D8%B3%D9%84%D9%85%D8%A7%D9%86-%D9%86%D8%AF%D8%B1%D8%B3-1200-%D9%85%D9%88%D9%82%D8%B9-%D9%84%D9%85%D8%B4%D8%A7%D8%B1%D9%8A%D8%B9-%D8%A7%D9%84%D8%B7%D8%A7%D9%82%D8%A9-%D8%A7%D9%84%D8%B4%D9%85%D8%B3%D9%8A%D8%A9\" style=\"\" rel=\"noopener\">Asharq Al-Awsat<\/a> reports, citing comments made by Saudi Energy Minister Prince Abdelaziz bin Salman. The kingdom plans to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/eb464c30-c3fd-4da8-b4a4-b5b69bcfc07f\" style=\"\" rel=\"noopener\">add 20 GW from renewables<\/a> annually between now and 2030 as part of a target to expand its clean energy capacity to 130 GW by the end of the decade. KSA will leverage its planned clean energy expansion to position itself as a green fuels hub, with targets to export up to 150 GW of green hydrogen.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a id=\"wwtt3\"><\/a><\/strong><strong>WATCH <\/strong><strong>THIS SPACE #4- DIB unveils new green financing program: <\/strong>Dubai Islamic Bank (DIB) launched a sustainable home finance program \u2013 dubbed Nest \u2013 that offers financial products for customers to invest in green homes, solar panels and sustainable construction materials, according to a <a target=\"_blank\" href=\"https:\/\/www.dib.ae\/about-us\/news\/2023\/12\/19\/dubai-islamic-bank-unveils-nest-a-breakthrough-in-green-living?type=medialisting\" style=\"\" rel=\"noopener\">statement<\/a>. Nest also includes discounted home finance rates, reimbursement for property evaluation fees, and a one-year free property Takaful \u2014 a type of insurance or bank guarantee which Islamic banks offer.<\/p>\n<div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">   Get <b style=\"font-weight: 700\">Enterprise<\/b> daily   <\/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 target=\"_blank\" href=\"climate\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\" rel=\"noopener\">Subscribe here<\/a>  <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a href=\"https:\/\/uaeform.enterprise.news\/\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/ads\/imgs\/135.jpg?ssl=1\"\/><\/a> <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">***<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>YOU\u2019RE READING ENTERPRISE CLIMATE, the essential MENA publication for senior execs who care about the world\u2019s most important industry. <\/strong>We\u2019re out Monday through Thursday by 9am Cairo \/ 10am Riyadh \/ 11am UAE.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>EXPLORE MORE OF ENTERPRISE ON THE WEB \u2014<\/strong><a target=\"_blank\" href=\"http:\/\/www.enterprise.news\" style=\"\" rel=\"noopener\">tap or click here<\/a> to read EnterpriseAM, EnterprisePM, Enterprise Climate, Enterprise Logistics, and The Weekend Edition on our powerful new website packed with reader-friendly features. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">Were you forwarded this email? <strong>Get your own <\/strong><strong><a target=\"_blank\" href=\"https:\/\/climate.enterprise.news\/climate\/en\/user\/NewsLetters\" style=\"\" rel=\"noopener\">subscription without charge here<\/a><\/strong> or reach out to us on <a target=\"_blank\" href=\"mailto:climate@enterprisemea.com\" style=\"\" rel=\"noopener\">climate@enterprisemea.com<\/a> with comments, suggestions and story tips.<br \/><strong>***<\/strong><\/p>\n<p style=\"padding:0;line-height:1.15;margin-right:-9pt;margin-left:0;margin-top:0;orphans:2;margin-bottom:0;widows:2;text-align:left\"><strong>CIRCLE YOUR CALENDAR- <\/strong><\/p>\n<p style=\"padding:0;line-height:1.15;margin-right:-9pt;margin-left:0;margin-top:0;orphans:2;margin-bottom:0;widows:2;text-align:left\"><strong>Qatar will host The <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.sgre-qa.org\/\" style=\"\" rel=\"noopener\">International Conference on Smart Grid and Renewable Energy<\/a><\/strong><strong> is kicking off Tuesday, <\/strong><strong>9 January through to Friday, 12 January<\/strong> in Doha. The conference will explore the importance of the smart grid and renewable energy resources and the viability of various related technologies. It will also host discussions on power electronics, controls, manufacturing, communications and computational intelligence.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Saudi Arabia will host the <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.futuremineralsforum.com\/\" style=\"\" rel=\"noopener\">Future Minerals Forum<\/a><\/strong><strong> from Tuesday, 9 January through to <\/strong><strong>Thursday, 11 January<\/strong> in Riyadh. The event will bring nations and private sectors together to enable the creation of resilient mineral value chains in the resource rich regions of Africa, Western Asia, and Central Asia. The forum will hold a ministerial roundtable with over 60 countries being represented., and delegates will discuss global critical mineral strategies as well as an international exhibition with over 150 exhibitors and industry sponsors. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The UAE will host the <\/strong><strong><a target=\"_blank\" href=\"https:\/\/conferences.uaeu.ac.ae\/warms2024\/en\/index.shtml\" style=\"\" rel=\"noopener\">Management and Sustainability of Water Resources<\/a><\/strong><strong> Conference <\/strong><strong>from Monday, 26 February to Wednesday 28 February<\/strong> in Dubai.The conference is set to address the importance of water resources availability in arid and semiarid regions and to discuss global water issues and address future water and environmental challenges.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\" style=\"\" rel=\"noopener\">Check out our full calendar on the web<\/a><\/strong> for a comprehensive listing of upcoming news events, national holidays and news triggers.<\/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\/gerd\/\">GERD<\/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\" 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story-section            \"\r\n            id=\"81410\">\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\">GREEN HYDROGEN<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/climate\/2023\/12\/21\/acwa-power-set-to-build-a-usd-4-bn-green-hydrogen-ammonia-project-in-egypts-sczone\/\">\r\n                            Acwa Power set to build a USD 4 bn green hydrogen + ammonia project in Egypt\u2019s SCZone                        <\/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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data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/1381.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1381.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/1381.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/1381.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-81410\" class=\"content-area-description single-story post-81410 post type-post status-publish format-standard has-post-thumbnail hentry category-green-hydrogen tag-acwa-power tag-egypt tag-enterpriseclimate tag-green-ammonia tag-green-hydrogen tag-saudi-arabia tag-sczone wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/12\/.e39e3216-a922-4d86-9c8f-c48067de878d.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Acwa Power expands its presence in Egypt:<\/strong> Renewables giant Acwa Power inked an agreement with the Egyptian government to develop a large-scale two-phase green hydrogen and ammonia project in the Suez Canal Economic Zone (SCZone), according to a <a target=\"_blank\" href=\"https:\/\/bitly.ws\/36Fwt\" style=\"\" rel=\"noopener\">statement<\/a>. The first phase \u2014 predicted to cost USD 4 bn \u2014 will have the capacity to produce 600k tons of green ammonia annually, while the second phase will expand the plant\u2019s output by another 2 mn tons. The predicted investment value of the second phase was not disclosed, as well as the expected timeline for the entire project. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We knew this was coming: <\/strong>Acwa Power <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/b64b2810-9dca-45ef-9830-a12b5ff3d66e\" style=\"\" rel=\"noopener\">signed a non-binding agreement<\/a> with the SCZone to establish a green fuel production plant back in May. At the time, the SCZone did not disclose the type of green fuels, the production capacity, financials, or timeline for establishing the facility, though it did say that the MoU should be turned into a framework agreement \u201csoon.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Acwa Power ? Egypt\u2019s green sector: <\/strong>The company aims to capture a 50% share of Egypt\u2019s renewables market by 2026, CEO Marco Arcelli <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/ad204d82-d083-4529-8925-aaae7e8a09e0\" style=\"\" rel=\"noopener\">said in August<\/a>. Arcelli explained that a planned USD 10 bn green investments allocated for Egypt will be disbursed within three years. The company has so far invested a total of USD 2.5 bn in Egypt on five projects with a combined capacity of 1.85 GW. Three of the projects are megascale in size and are scheduled for operation in 2026.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>And other players are interested:<\/strong> SCZone inked an agreement with China Energy Engineering Corporation in October for a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/aa1f50ff-35e3-4c14-99e6-a3841edb12d1\" style=\"\" rel=\"noopener\">USD 6.75 bn green hydrogen plant<\/a> which will span 500k square meters and generate 210k tons of green hydrogen annually. A consortium of three Egyptian companies is also considering investing <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/f8a42744-8838-484a-be2e-3a7a24e1202a\" style=\"\" rel=\"noopener\">USD 1.2 bn<\/a> into the first phase of a plant set to produce 400k tons of ammonia annually from green hydrogen.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Acwa has global hydrogen ambitions:<\/strong> The company broke ground on its <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/79d86a49-cccb-4a55-96c9-c4fcd6d1e0bd\" style=\"\" rel=\"noopener\">green hydrogen production facility<\/a> in Uzbekistan last month with a capacity of 3k tons of green hydrogen annually. During COP28, Acwa also signed an agreement with Indonesia's PT Perusahaan Listrik Negara (PLN) to build Indonesia's <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/f1ddd3d0-43d9-40f7-aebb-4519f739265d\" style=\"\" rel=\"noopener\">largest green hydrogen facility<\/a>. The Saudi renewables giant also signed an MoU with Jordan\u2019s Energy and Mineral Resources Ministry for a feasibility study to produce 100-150k tons of green ammonia annually. Last year, Acwa Power said it will establish a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/5f2223fd-9e56-4cc7-a715-485a7306d8c0\" style=\"\" rel=\"noopener\">USD 7 bn<\/a> green hydrogen and derivatives production project in Thailand.<\/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\/acwa-power\/\">ACWA Power<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/egypt\/\">Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/green-ammonia\/\">GREEN AMMONIA<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/green-hydrogen\/\">green hydrogen<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/saudi-arabia\/\">Saudi Arabia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/sczone\/\">SCzone<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"81412\" 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=\"81412\">\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\">DEBT WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/climate\/2023\/12\/21\/uaes-adib-extends-aed-1-bn-green-loan-to-aldar-properties\/\">\r\n                            UAE\u2019s ADIB extends AED 1 bn green loan to Aldar Properties                        <\/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\/12\/21\/uaes-adib-extends-aed-1-bn-green-loan-to-aldar-properties\/\" 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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USD 272.2 mn) green bilateral loan to UAE-based real estate developer Aldar Properties to support the decarbonization of the latter\u2019s investments, according to a <a target=\"_blank\" href=\"https:\/\/www.adib.ae\/en\/pages\/news_details.aspx?id=455\" style=\"\" rel=\"noopener\">statement<\/a>. The credit line \u2014 on which ADIB acted as the sole facility provider \u2014 brings Aldar\u2019s cumulative ESG-aligned facilities to AED 4.8 bn. The real estate developer is aiming to reach <a target=\"_blank\" href=\"https:\/\/www.aldar.com\/en\/blog\/what-is-a-net-zero-strategy\" style=\"\" rel=\"noopener\">net zero by 2050<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Where\u2019s the money going?<\/strong> Aldar will channel the financing package toward expanding green building developments, renewable energy sources, and property upgrades to increase energy efficiency. The funds will also go towards sustainable water management and pollution control across Aldar\u2019s properties. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>SOUND SMART-<\/strong><a target=\"_blank\" href=\"https:\/\/www.srsacquiom.com\/our-insights\/syndicated-loan\/#:~:text=A%20bilateral%20loan%20is%20a,are%20less%20challenging%20to%20administer.\" style=\"\" rel=\"noopener\">Bilateral loans<\/a> are forms of credit arranged between a borrower and a single lender in a bid to facilitate working capital for developers, and are usually associated with lower complexity and administration challenges for banks. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Both sides have been upping their green finance game: <\/strong>Earlier this month, ADIB listed its first USD-denominated green sukuk, <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/efa559e5-6893-4b55-ad3c-057c6c09f407\" style=\"\" rel=\"noopener\">raising USD 500 mn<\/a> in an issuance that was 5.2x oversubscribed. The sukuk issuance was part of the lender\u2019s <a target=\"_blank\" href=\"https:\/\/www.fitchratings.com\/entity\/adib-sukuk-company-ltd-90978692\" style=\"\" rel=\"noopener\">USD 5 bn Trust Certificate Issuance Programme<\/a>. Meanwhile, Aldar secured <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/9cb7b135-2330-4147-b5ad-aa37eeec3799\" style=\"\" rel=\"noopener\">AED 1 bn<\/a> in ESG-linked loans from the Abu Dhabi Commercial Bank during COP28 to support its corporate sustainability targets. Aldar Investment Properties \u2014 a unit of Aldar Properties \u2014 <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/9fd09855-e3e2-415a-9f8f-4f57263a37b4\" style=\"\" rel=\"noopener\">raised USD 500 mn<\/a> through its debut 10-year inaugural green sukuk back in May.<\/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\/adib\/\">ADIB<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/aldar\/\">Aldar<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/debt-watch\/\">DEBT WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/green-finance\/\">green finance<\/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=\"81414 advertiser\" class=\"issue-section enterprise-adv\">\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=\"81414\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/climate\/2023\/12\/21\/81414\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-81414\" class=\"content-area-description single-story post-81414 post type-post status-publish format-standard hentry category-advertiser wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><span style=\"font-weight:400;\"><a href=\"https:\/\/weareiph.com\/\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/enterprise.press\/wp-content\/uploads\/2023\/05\/infinity-enterprise1600px-scaled.jpg\"><\/a><\/span><\/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=\"81415\" 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=\"81415\">\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\">MACRO PICTURE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/climate\/2023\/12\/21\/west-africa-is-set-to-be-a-renewable-energy-powerhouse-masdar-and-pwc-find\/\">\r\n                            West Africa is set to be a renewable energy powerhouse, Masdar and PwC find                        <\/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\/12\/21\/west-africa-is-set-to-be-a-renewable-energy-powerhouse-masdar-and-pwc-find\/\" 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\/12\/21\/west-africa-is-set-to-be-a-renewable-energy-powerhouse-masdar-and-pwc-find\/')\">\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\/12\/21\/west-africa-is-set-to-be-a-renewable-energy-powerhouse-masdar-and-pwc-find\/\">\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=West Africa is set to be a renewable energy powerhouse, Masdar and PwC find&url=https:\/\/enterpriseam.com\/climate\/2023\/12\/21\/west-africa-is-set-to-be-a-renewable-energy-powerhouse-masdar-and-pwc-find\/\">\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\/12\/21\/west-africa-is-set-to-be-a-renewable-energy-powerhouse-masdar-and-pwc-find\/&title=West Africa is set to be a renewable energy powerhouse, Masdar and PwC find\">\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=West+Africa+is+set+to+be+a+renewable+energy+powerhouse%2C+Masdar+and+PwC+find+https%3A%2F%2Fenterpriseam.com%2Fclimate%2F2023%2F12%2F21%2Fwest-africa-is-set-to-be-a-renewable-energy-powerhouse-masdar-and-pwc-find%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\/12\/21\/west-africa-is-set-to-be-a-renewable-energy-powerhouse-masdar-and-pwc-find\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/2893.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"81416\" data-permalink=\"https:\/\/enterpriseam.com\/climate\/2023\/12\/21\/west-africa-is-set-to-be-a-renewable-energy-powerhouse-masdar-and-pwc-find\/2893-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/2893.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2893.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/2893.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/2893.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-81415\" class=\"content-area-description single-story post-81415 post type-post status-publish format-standard has-post-thumbnail hentry category-macro-picture tag-africa tag-enterpriseclimate tag-macro-picture tag-masdar tag-pwc tag-renewables tag-uae wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/12\/.c8ffe567-a79b-4b89-b172-ed6f78a8f53a.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>West Africa has the potential to become a global hub for renewable energy,<\/strong>according to a new <a target=\"_blank\" href=\"https:\/\/ent.news\/2023\/11\/1652.pdf\" style=\"\" rel=\"noopener\">report (pdf)<\/a> by UAE renewables player Masdar and PwC Middle East. The region \u2014 which has one of the <a target=\"_blank\" href=\"https:\/\/www.worldbank.org\/en\/news\/press-release\/2023\/01\/31\/accelerating-access-to-renewable-energy-in-west-africa\" style=\"\" rel=\"noopener\">lowest electrification rates<\/a> and highest electricity costs in sub-saharan Africa \u2014 could reach a renewable energy capacity of 2 TW, enough to cover the region\u2019s basic energy needs while mitigating carbon emissions and subsequent climate impacts. West Africa needs over USD 540 bn in power sector investments by 2050, including nearly USD 230 bn for its network and storage infrastructure, the report found.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REFRESHER- Africa will be the hardest hit by climate change: <\/strong>A report by the World Meteorological Organization (WMO) released during the Africa Climate Summit in Kenya highlighted that the continent will be <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/99bf1112-1c8d-4915-bda3-bb8c65f044c3\" style=\"\" rel=\"noopener\">hit the hardest<\/a> by climate climate change, with threats to food security, ecosystems, and economies that is likely to trigger displacement and migration as well as aggravate conflicts over diminishing resources.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Bankability is West Africa\u2019s biggest hurdle: <\/strong>West Africa\u2019s energy sector has been labeled \u201cunbankable\u201d due to a large number of West African governments being debt-distressed while their subsidized state utility companies remain cash constrained, the report stated. The high reliance of the utility sector on government backing, particularly in countries with below investment grade credit ratings, has become a deterrent for international private investors. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Setting up the needed infrastructure is no easy feat either: <\/strong>\u201cTo support a higher share of renewables in the energy mix, the existing grid infrastructure needs to be upgraded and automated, new transmission and distribution infrastructure needs to be installed, including mini-grids and off-grid solutions, and storage and thermal-based generation solutions must be deployed,\u201d the report noted.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Some countries have opted to liberalize its energy sector to attract private investors, but to no avail:<\/strong> Key power markets in West Africa, such as Nigeria, Ghana, C\u00f4te d'Ivoire and Senegal, have taken steps towards liberalization by allowing private-sector investments in generation and distribution, according to the report. While these countries have allowed power purchase agreements with the private sector, it has also led to uncompetitive tariffs that are not reflective of the cost of generation, transmission and distribution, and thus increasing offtake risk and dependence on government subsidies. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Masdar and PwC outlined green policy recommendations for West Africa: <\/strong>Some key suggestions outlined in the report to support West Africa\u2019s green transition include: reducing government subsidies provided to traditional power utilities (except for the most economically vulnerable consumers); reorganizing national utility companies and making them more financially transparent; offering incentives to attract foreign investment such as tax exemptions on imported manufacturing components for green projects as well as income and dividend tax exemptions; launching initiatives like net metering, mini-grid creation, and supportive regulatory frameworks; and creating government guarantee mechanisms to avoid sovereign risk.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>And argue that sovereign wealth funds have the resources needed to decarbonize the region: <\/strong>Masdar and PwC are encouraging governments in West Africa to roll out market reforms that are \u201ccrucial to unlocking mobilizing capital, supporting individual projects, meeting last-mile investment needs, and expediting financial close and delivery\u201d in order to attract sovereign wealth funds, which have the financial resources to provide the needed investments.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Masdar has already ventured into West Africa:<\/strong>Masdar aims to accelerate climate finance into Africa\u2019s renewables, advocating for collaboration among public, private, and development capital to unlock the continent's potential. The renewable energy giant signed an agreement with the Ivory Coast\u2019s Mining, Petroleum and Energy Ministry in March to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/9e6cd9f5-cbac-4b58-a0c7-482b19f879a8\" style=\"\" rel=\"noopener\">explore the development of a solar power plant<\/a> with a capacity between 50 MW and 70 MW. Infinity Power Holding \u2014 a JV between Egypt\u2019s Infinity and Masdar \u2014 and Germany\u2019s Conjuncta signed an MoU with Mauritania to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/6e53437d-b885-4181-a9f3-6aeafb685881\" style=\"\" rel=\"noopener\">build a mega green hydrogen plant<\/a> in the West African country earlier this year. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Growing interest in the region: <\/strong>The UAE\u2019s Amea Power is set to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/2883848f-6efd-4305-8f0a-4d3485c9ec4c\" style=\"\" rel=\"noopener\">build a 50 MW solar power plant<\/a> in the Ivory Coast after signing a concession agreement and a 25-year power purchase agreement (PPA) in January. Plans are also underway to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/933156a6-4573-4844-bdd4-ebe9c173b79d\" style=\"\" rel=\"noopener\">install the first 1.5 MW commercial-scale ocean thermal energy conversion<\/a> (OTEC) floating platform, with UK-based ocean energy company Global OTEC signing an MoU with France-based heat-to-electricity provider Enogia to develop key subsystems for the project. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s not only the West region of Africa that will need to step up its green investments:<\/strong> To bring Africa up to the world's electricity access average, an estimated additional 2.35 GW of renewable generation is needed by 2050, equivalent to an annual investment of approximately USD 50 bn in renewables alone between 2026 to 2030, Masdar\u2019s report outlined, citing PwC and Strategy&\u2019s 2022 Africa Energy Review.<\/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\/africa\/\">Africa<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/macro-picture\/\">MACRO PICTURE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/masdar\/\">Masdar<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/pwc\/\">PwC<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/renewables\/\">renewables<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/uae\/\">UAE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"81417\" 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=\"81417\">\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\">ALSO ON OUR RADAR<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/climate\/2023\/12\/21\/some-green-finance-and-decarbonization-updates-from-the-uae\/\">\r\n                            Some green finance and decarbonization updates from the UAE                        <\/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\/12\/21\/some-green-finance-and-decarbonization-updates-from-the-uae\/\" 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\/12\/21\/some-green-finance-and-decarbonization-updates-from-the-uae\/')\">\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\/12\/21\/some-green-finance-and-decarbonization-updates-from-the-uae\/\">\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=Some green finance and decarbonization updates from the UAE&url=https:\/\/enterpriseam.com\/climate\/2023\/12\/21\/some-green-finance-and-decarbonization-updates-from-the-uae\/\">\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\/12\/21\/some-green-finance-and-decarbonization-updates-from-the-uae\/&title=Some green finance and decarbonization updates from the UAE\">\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=Some+green+finance+and+decarbonization+updates+from+the+UAE+https%3A%2F%2Fenterpriseam.com%2Fclimate%2F2023%2F12%2F21%2Fsome-green-finance-and-decarbonization-updates-from-the-uae%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\/12\/21\/some-green-finance-and-decarbonization-updates-from-the-uae\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/1402.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"81418\" data-permalink=\"https:\/\/enterpriseam.com\/climate\/2023\/12\/21\/some-green-finance-and-decarbonization-updates-from-the-uae\/1402-jpg-2\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/1402.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1402.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/1402.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/1402.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-81417\" class=\"content-area-description single-story post-81417 post type-post status-publish format-standard has-post-thumbnail hentry category-also-on-our-radar tag-also-on-our-radar tag-emissions tag-enterpriseclimate tag-green-finance tag-taqa tag-uae wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/12\/.42fb5652-b950-417f-94e3-fb0e6405759d.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>GREEN FINANCE-<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>DFSA <\/strong><strong>+ HKMA to boost sustainable finance:<\/strong> The Dubai Financial Services Authority (DFSA) and the Hong Kong Monetary Authority have partnered to explore how to develop policy and regulatory responses for climate finance in the Middle East and Asia, according to a <a target=\"_blank\" href=\"https:\/\/www.dfsa.ae\/news\/dfsa-and-hkma-join-efforts-accelerate-sustainable-finance-across-middle-east-and-asia\" style=\"\" rel=\"noopener\">statement<\/a>. The partnership will involve discussions on the role of central banks in facilitating sustainable capital flows, leveraging frameworks and existing green financing solutions from debt to carbon markets, and international cooperation to combat the impact of climate change globally. DFSA announced during COP28 the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/9cb7b135-2330-4147-b5ad-aa37eeec3799\" style=\"\" rel=\"noopener\">waiving of all regulatory fees<\/a> on sustainability-linked debt security listings on Nasdaq Dubai throughout 2024.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>DECARBONIZATION-<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Taqa + Abu Dhabi ink MoU to propel environmental initiatives:<\/strong>The Abu Dhabi National Energy Company (Taqa) and the <a target=\"_blank\" href=\"https:\/\/www.ead.gov.ae\/en\" style=\"\" rel=\"noopener\">Abu Dhabi Environment Agency<\/a> (EAD) inked a three-year MoU to collaborate on boosting initiatives launched at COP28, as well as garnering knowledge exchange, advocacy campaigns, and fostering dialogues on climate action initiatives, <a target=\"_blank\" href=\"https:\/\/wam.ae\/article\/aq7sb4n-ead-taqa-sign-mou-cooperate-range-environmental\" style=\"\" rel=\"noopener\">Wam<\/a> reports. The partnership also aims to improve water quality and address air quality and greenhouse gas emissions. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- <\/strong>Taqa was one of <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/51ee7a9b-e484-4aa3-9636-473c2b7b64ea\" style=\"\" rel=\"noopener\">25 regional utility giants<\/a> to sign the COP28 <a target=\"_blank\" href=\"https:\/\/ent.news\/2023\/12\/827.pdf\" style=\"\" rel=\"noopener\">Declaration of Action (pdf)<\/a> last week, setting in motion the Utilities for Net Zero Alliance (UNEZA) as its vehicle for implementation. Under the pact, Taqa has pledged to accelerate clean energy deployment and integration into power grids and in line with the 2030 goals and the 2050 net zero target. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Huade <\/strong><strong>High-Tech + Zubair Electricity partner to reduce emissions:<\/strong> Chinese electricity company Huade High-Tech Electric has partnered with Zubair Electricity \u2014 a subsidiary of Zubair Corporation \u2014 to support the reduction of sulfur hexafluoride (SF6) emissions in the Middle East, <a target=\"_blank\" href=\"https:\/\/bitly.ws\/36Ezd\" style=\"\" rel=\"noopener\">Al Khaleej<\/a> reports. Huade Hi-Tech Electric's pioneering SF6 emission reduction technology was showcased at COP28. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>SOUND SMART- What's sulfur hexafluoride?<\/strong> SF6 is a colorless gas used in electrical circuit interrupters and electric piping for <a target=\"_blank\" href=\"https:\/\/www.nationalgrid.com\/stories\/energy-explained\/what-is-sf6-sulphur-hexafluoride-explained\" style=\"\" rel=\"noopener\">electricity transmission and distribution<\/a>. SF6 is used to insulate live electrical parts and to switch the flow of electrical current on and off in medium- and high-voltage electrical equipment.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>OTHER STORIES WORTH KNOWING ABOUT THIS MORNING-<\/strong><\/p>\n<ul>\n<li><strong>Jordan expands solar heater program: <\/strong>Jordan\u2019s Ministry of Energy launched the third phase of its incentive program for increasing the rate of solar-powered heating installations in homes. The program offers a 30% reduction in the cost of <a target=\"_blank\" href=\"https:\/\/www.bmwk-energiewende.de\/EWD\/Redaktion\/EN\/Newsletter\/2015\/04\/Meldung\/direkt-erklaert-brennstoffzellen-heizungen.html\" style=\"\" rel=\"noopener\">fuel-cell<\/a> systems and solar heaters. The previous phase provided solar cell systems for 4.5k households and installed solar water heaters for 1.5k homes. (<a target=\"_blank\" href=\"http:\/\/tinyurl.com\/4t7p7zh6\" style=\"\" rel=\"noopener\">Attaqa<\/a>) <\/li>\n<li><strong>Regent <\/strong><strong>+ Aramex partner on sustainable logistics:<\/strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/5d4f1b1c-f157-4e88-810a-c4bd7b3d6c9e\" style=\"\" rel=\"noopener\">Neom-backed<\/a> seaglider maker Regent has partnered with Aramex to implement the use of electric seagliders for middle-mile logistics. (<a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/press-release\/companies-news\/regent-and-aramex-embark-on-sustainable-cargo-logistics-collaboration-bjmab6es\" style=\"\" rel=\"noopener\">Statement<\/a>)<\/li>\n<li><strong>The UAE\u2019s EGA joins climate-focused Sea Cargo <\/strong><strong>Charter<\/strong><strong>: <\/strong>State-owned Emirates Global Aluminum (EGA) has become the first MENA\u2013based firm to join the <a target=\"_blank\" href=\"https:\/\/www.seacargocharter.org\/\" style=\"\" rel=\"noopener\">Sea Cargo Charter<\/a>. The Charter aims to improve monitoring and reporting on the environmental performance of maritime chartering activities, in a bid to fully decarbonize the shipping industry by 2050. EGA ships some 22 mn tons of aluminum, bauxite and raw materials annually. (<a target=\"_blank\" href=\"https:\/\/media.ega.ae\/ega-first-aluminium-producer-to-join-global-shipping-and-maritime-sustainability-initiative\/\" style=\"\" rel=\"noopener\">Statement<\/a>)<\/li>\n<li><strong>EBRD counsels Tunisia on railway <\/strong><strong>decarbonization<\/strong><strong>:<\/strong> A study by the European Bank for Reconstruction and Development on deploying alternative energy sources for Tunisia\u2019s railway network has advised the country to leverage green hydrogen and battery train systems to decarbonize the sector while controlling operating costs. (<a target=\"_blank\" href=\"https:\/\/www.tap.info.tn\/en\/Portal-Economy\/16939350-strategic-study\" style=\"\" rel=\"noopener\">TAP<\/a>) <\/li>\n<li><strong>I<\/strong><strong>ndustry <\/strong><strong>giants partner on KSA\u2019s upcoming critical mineral <\/strong><strong>summit:<\/strong> US-based consultancy firm Wood Mackenzie, supply chain solutions provider AE Global, business intelligence firm CRU Group, the Development Partners Institute, biotech research company Clario, the Baker Institute\u2019s Center for Energy Studies, and the Payne Institute of the Colorado School of Mines have partnered with Saudi Arabia\u2019s <a target=\"_blank\" href=\"https:\/\/www.futuremineralsforum.com\/\" style=\"\" rel=\"noopener\">Future Minerals Forum<\/a> taking place from January 9 to 11 2024 in Riyadh. (<a target=\"_blank\" href=\"https:\/\/attaqa.net\/2023\/12\/19\/%D8%A7%D9%84%D8%B3%D8%B9%D9%88%D8%AF%D9%8A%D8%A9-%D8%AA%D8%AA%D8%B9%D8%A7%D9%88%D9%86-%D9%85%D8%B9-7-%D9%85%D8%A4%D8%B3%D8%B3%D8%A7%D8%AA-%D8%AF%D9%88%D9%84%D9%8A%D8%A9-%D9%84%D8%B1%D8%B3%D9%85-%D9%85\/\" style=\"\" rel=\"noopener\">Attaqa<\/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\/emissions\/\">emissions<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/green-finance\/\">green finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/taqa\/\">TAQA<\/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=\"81419\" 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=\"81419\">\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\">AROUND THE WORLD<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/climate\/2023\/12\/21\/the-eu-moves-to-expand-wind-farm-industry-and-ing-set-to-phase-out-fossil-fuel-financing\/\">\r\n                            The EU moves to expand wind farm industry and ING set to phase out fossil fuel financing                        <\/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\/12\/21\/the-eu-moves-to-expand-wind-farm-industry-and-ing-set-to-phase-out-fossil-fuel-financing\/\" 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\/12\/21\/the-eu-moves-to-expand-wind-farm-industry-and-ing-set-to-phase-out-fossil-fuel-financing\/')\">\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\/12\/21\/the-eu-moves-to-expand-wind-farm-industry-and-ing-set-to-phase-out-fossil-fuel-financing\/\">\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 EU moves to expand wind farm industry and ING set to phase out fossil fuel financing&url=https:\/\/enterpriseam.com\/climate\/2023\/12\/21\/the-eu-moves-to-expand-wind-farm-industry-and-ing-set-to-phase-out-fossil-fuel-financing\/\">\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\/12\/21\/the-eu-moves-to-expand-wind-farm-industry-and-ing-set-to-phase-out-fossil-fuel-financing\/&title=The EU moves to expand wind farm industry and ING set to phase out fossil fuel financing\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=The+EU+moves+to+expand+wind+farm+industry+and+ING+set+to+phase+out+fossil+fuel+financing+https%3A%2F%2Fenterpriseam.com%2Fclimate%2F2023%2F12%2F21%2Fthe-eu-moves-to-expand-wind-farm-industry-and-ing-set-to-phase-out-fossil-fuel-financing%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\/12\/21\/the-eu-moves-to-expand-wind-farm-industry-and-ing-set-to-phase-out-fossil-fuel-financing\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-81419\" class=\"content-area-description single-story post-81419 post type-post status-publish format-standard hentry category-around-the-world tag-around-the-world tag-enterpriseclimate tag-eu tag-green-finance tag-wind-energy wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/12\/.72224cfc-3a6a-40dc-89e9-60f84cb8198d.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">!_ImageURLWeb_ !https:\/\/ent.news\/2023\/1\/909.jpg<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Almost all EU countries and around 300 firms have agreed to proceed with the EU's plan <\/strong><strong>to expand wind farms and its supporting infrastructure<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/energy\/countries-firms-get-behind-eu-wind-energy-plans-2023-12-19\/\" style=\"\" rel=\"noopener\">Reuters<\/a> reports. The EU <a target=\"_blank\" href=\"https:\/\/ec.europa.eu\/commission\/presscorner\/detail\/en\/ip_23_5185\" style=\"\" rel=\"noopener\">announced plans in October<\/a> to support the continent's wind energy sector to contribute to reaching the bloc\u2019s target of having 42.5% of all energy come from renewable sources by 2030. All EU member states except Hungary are going forward with the recommendations, which include changing renewable energy auctions to give local manufacturers an edge, scrutinising unfair trade practices in foreign wind product manufacturing, and stepping up investments in local manufacturing capacity for wind turbines. A number of EU countries including Germany and Poland have already kickstarted some of their initiatives <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/012bb7d8-de40-42a5-9d4b-7e029be7cae0\" style=\"\" rel=\"noopener\">last month<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The move is the push the EU's wind sector needed: <\/strong>Hurdles such as rising costs of <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/ddb14d51-250c-4ef3-80eb-2b3260bba257\" style=\"\" rel=\"noopener\">wind turbine materials<\/a>, higher borrowing costs, and a supply chain crisis in the wind sector has severely impacted the bottomline of wind energy giants like Vestas and Siemens Gamesa over the last couple of years.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ING to phase out oil and gas financing by 2040 + triple funds for renewables:<\/strong>Dutch banking firm ING \u2014 the largest in the Netherlands \u2014 has committed to stop financing oil and gas exploration and production by 2040 and will triple its lending for renewable energy in the next two years, according to a <a target=\"_blank\" href=\"https:\/\/www.ing.com\/Newsroom\/News\/Press-releases\/ING-takes-next-steps-on-energy-financing-after-COP28.htm\" style=\"\" rel=\"noopener\">statement<\/a>. The decision comes following agreements made at COP28 and guidance from the <a target=\"_blank\" href=\"https:\/\/www.iea.org\/\" style=\"\" rel=\"noopener\">International Energy Agency<\/a>, which has warned that advanced economies must move away from oil and gas by 2040 to limit warming to 1.5\u00b0C, CEO Steven van Rijswijk said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>How will the banking giant get there?<\/strong> ING plans to raise financing of renewable power generation to EUR 7.5 bn annually by 2025, up from EUR 2.5 bn last year. The Dutch lender will also reduce loans for upstream oil and gas activities by 35% by 2030, cutting its emissions in half, the statement said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>OTHER STORIES WORTH KNOWING ABOUT THIS MORNING-<\/strong><\/p>\n<ul>\n<li><strong>EcoCeres <\/strong><strong>to source feedstock from Shenzhen:<\/strong> China's biofuels refiner EcoCeres is partnering with waste management firm Shenzhen Expressway Group to source feedstock for biofuel. (<a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/energy\/bain-backed-biofuels-refiner-ties-up-with-china-firm-source-feedstock-2023-12-19\/\" style=\"\" rel=\"noopener\">Reuters<\/a>)<\/li>\n<li><strong>AfDB allocates USD mns for African hydropower:<\/strong> The <a target=\"_blank\" href=\"https:\/\/www.ahmpafrica.org\/\" style=\"\" rel=\"noopener\">Africa Hydropower<\/a><a target=\"_blank\" href=\"https:\/\/www.ahmpafrica.org\/\" style=\"\" rel=\"noopener\">Modernisation Programme<\/a> (AHMP) secured a USD 9.72 mn grant from the African Development Bank (AfDB)-managed Sustainable Energy Fund for Africa to modernize 12 projects across eight countries. (<a target=\"_blank\" href=\"https:\/\/www.afdb.org\/en\/news-and-events\/press-releases\/multinational-african-development-banks-sefa-provide-972-million-modernise-african-hydropower-fleet-67301\" style=\"\" rel=\"noopener\">Statement<\/a>) <\/li>\n<li><strong>GE <\/strong><strong>Aerospace successfully tests 100% SAF flight: <\/strong>Ohio-based <a target=\"_blank\" href=\"https:\/\/www.geaerospace.com\/\" style=\"\" rel=\"noopener\">GE Aerospace<\/a> and its joint ventures successfully tested 10 aircraft engines running with 100% sustainable aviation fuel (SAF). (<a target=\"_blank\" href=\"https:\/\/www.geaerospace.com\/press-release\/other-news-information\/ge-aerospace-and-partners-achieve-new-milestone-testing-10\" style=\"\" rel=\"noopener\">Press Release<\/a>)<\/li>\n<li><strong>Microsoft <\/strong><strong>to buy carbon credits from US startup: <\/strong>US tech giantMicrosoft has partnered with US offsets startup <a target=\"_blank\" href=\"https:\/\/chestnutcarbon.com\/\" style=\"\" rel=\"noopener\">Chestnut Carbon<\/a> to remove 2.7 mn tons of carbon from the atmosphere over the next 15 years. (<a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/environment\/microsoft-inks-carbon-removal-deal-with-offsets-startup-chestnut-2023-12-20\/\" style=\"\" rel=\"noopener\">Reuters<\/a>) <\/li>\n<\/ul>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/around-the-world\/\">AROUND THE WORLD<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/eu\/\">EU<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/green-finance\/\">green finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/wind-energy\/\">Wind Energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"81420\" 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=\"81420\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">7<\/div>\r\n\r\n                    <p class=\"f-graphik\">CLIMATE IN THE NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/climate\/2023\/12\/21\/san-franciscos-newday-impact-investing-is-boosting-esg-investments-through-novel-approach\/\">\r\n                            San Francisco\u2019s Newday Impact Investing is boosting ESG investments through novel approach                        <\/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\/12\/21\/san-franciscos-newday-impact-investing-is-boosting-esg-investments-through-novel-approach\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" 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href=\"https:\/\/enterpriseam.com\/climate\/2023\/12\/21\/san-franciscos-newday-impact-investing-is-boosting-esg-investments-through-novel-approach\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/5\/3066.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"81421\" data-permalink=\"https:\/\/enterpriseam.com\/climate\/2023\/12\/21\/san-franciscos-newday-impact-investing-is-boosting-esg-investments-through-novel-approach\/3066-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/5\/3066.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"3066.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/5\/3066.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/5\/3066.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-81420\" class=\"content-area-description single-story post-81420 post type-post status-publish format-standard has-post-thumbnail hentry category-climate-in-the-news tag-climate-in-the-news tag-enterpriseclimate tag-green-finance wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/12\/.d0ccf2b5-86c8-48f4-9154-fd802d91229a.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>This US outfit is using a novel framework to boost ESG investments:<\/strong> San Francisco-based asset manager <a target=\"_blank\" href=\"https:\/\/newdayimpact.com\/\" style=\"\" rel=\"noopener\">Newday Impact Investing<\/a> is using the Ecological Benefits Framework (EBF) to help investors gauge the environmental and impact of businesses, <a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2023\/12\/19\/how-one-asset-management-firm-adopted-a-new-framework-for-esg.html\" style=\"\" rel=\"noopener\">CNBC<\/a> writes. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What is EBF? <\/strong>EBF \u2014 created by Douglas Gayeton, co-founder of US-based NGO <a target=\"_blank\" href=\"https:\/\/www.thelexicon.org\/\" style=\"\" rel=\"noopener\">The Lexicon<\/a> \u2014 is a \u201cshared market architecture\u201d investment approach that takes into account six elements: air, water, biodiversity, healthy soils, equity, and carbon, which investors can use to determine the impacts of their investment. The purpose is to create a measurement, reporting, and verification library for investors, Newday CEO Doug Heske said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Impact of the approach: <\/strong>Newday was the first finance institution to adopt EBF back in October, applying the framework across portfolios focused on ocean sustainability and blue carbon projects, CNBC writes. The framework has been applied by US-based healthcare company McKesson, one of Newday\u2019s portfolio holdings, and is being used to help the firm meet several goals including pushing down its Scope 1 and 2 greenhouse gas (GHG) emissions by 50% by 2032 from 2020 levels, as well as eliminating some 60 mn cardboard boxes annually, which is the equivalent to some 400k trees.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Plans to leverage AI and blockchain tech:<\/strong> Lexicon and Newday plan to integrate machine learning and blockchain technologies into the EBF investment construction methodology, which should help draw conclusions on ESG ventures from databases at an increased scale, the news outlet notes.<\/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\/climate-in-the-news\/\">CLIMATE IN THE NEWS<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/green-finance\/\">green finance<\/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=\"81422\" 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=\"81422\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">8<\/div>\r\n\r\n                    <p class=\"f-graphik\">ON YOUR WAY OUT<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/climate\/2023\/12\/21\/abu-dhabi-university-secures-patent-for-solar-wind-hybrid-power-network\/\">\r\n                            Abu Dhabi University secures patent for solar-wind hybrid power network                        <\/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\/12\/21\/abu-dhabi-university-secures-patent-for-solar-wind-hybrid-power-network\/\" 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\/12\/21\/abu-dhabi-university-secures-patent-for-solar-wind-hybrid-power-network\/')\">\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\/12\/21\/abu-dhabi-university-secures-patent-for-solar-wind-hybrid-power-network\/\">\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=Abu Dhabi University secures patent for solar-wind hybrid power network&url=https:\/\/enterpriseam.com\/climate\/2023\/12\/21\/abu-dhabi-university-secures-patent-for-solar-wind-hybrid-power-network\/\">\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\/12\/21\/abu-dhabi-university-secures-patent-for-solar-wind-hybrid-power-network\/&title=Abu Dhabi University secures patent for solar-wind hybrid power network\">\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=Abu+Dhabi+University+secures+patent+for+solar-wind+hybrid+power+network+https%3A%2F%2Fenterpriseam.com%2Fclimate%2F2023%2F12%2F21%2Fabu-dhabi-university-secures-patent-for-solar-wind-hybrid-power-network%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\/12\/21\/abu-dhabi-university-secures-patent-for-solar-wind-hybrid-power-network\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/912.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"81423\" data-permalink=\"https:\/\/enterpriseam.com\/climate\/2023\/12\/21\/abu-dhabi-university-secures-patent-for-solar-wind-hybrid-power-network\/912-jpg-3\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/912.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"912.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/912.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/912.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-81422\" class=\"content-area-description single-story post-81422 post type-post status-publish format-standard has-post-thumbnail hentry category-on-your-way-out tag-enterpriseclimate tag-on-your-way-out tag-solar-energy tag-uae tag-wind-energy wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/12\/.ae3f1734-8ca7-4d37-b10a-ed7f840baa28.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ADU <\/strong><strong>professors receive patent for solar-wind hybrid system: <\/strong>The United States Patent and Trademark Office (USPTO) has awarded two professors from Abu Dhabi University (ADU) a patent for a locally produced solar-wind hybrid power generation system, the university <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/anas-al-tarabsheh-58b008114\/recent-activity\/all\/\" style=\"\" rel=\"noopener\">said<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>About the tech: <\/strong>The patented system will facilitate energy production and distribution from renewables beyond daylight hours, and function as a consistent charging network for drones and other offgrid activities, ADU explains. The tech also allows for adjustments to the arms of wind turbines and dynamic control of PV panel tilts to optimize energy production. The system is equipped with rotating PV cells, allowing for regular cooling and reducing dust formation. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What are hybrid systems? <\/strong>Hybrid renewables networks <a target=\"_blank\" href=\"https:\/\/www.solarsquare.in\/blog\/hybrid-solar-wind-system\/\" style=\"\" rel=\"noopener\">connect<\/a> solar and wind energy sources within a single power generation system through battery storage. The configuration enables <a target=\"_blank\" href=\"https:\/\/sustainablereview.com\/hybrid-systems-wind-solar-combined\/\" style=\"\" rel=\"noopener\">streamlined operation<\/a>, shared infrastructure, and efficient usage of grid connections. A hybrid charge controller helps both the turbines and the panels receive the required charge. By combining the two power sources \u2014 which peak at different times with solar only viable during daylight hours \u2014 hybrid systems ensure consistent energy generation.<\/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\/on-your-way-out\/\">ON YOUR WAY OUT<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/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                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/wind-energy\/\">Wind Energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"81424\" 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\/12\/21\/81424\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-81424\" class=\"content-area-description single-story post-81424 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 style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">DECEMBER 2023<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>18-20 December (Monday-Wednesday):<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/saudi-sg.com\/en\/\" style=\"\">Saudi Arabia Smart Grid Conference<\/a><\/span><span style=\"font-weight:400;\">, Riyadh, Saudi Arabia.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">JANUARY 2024<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>8-10 January (Monday- Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.sgre-qa.org\/\" style=\"\">International Conference on Smart Grid and Renewable Energy<\/a><\/span><span style=\"font-weight:400;\">, Doha, Qatar.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>9-11 January (Tuesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.futuremineralsforum.com\/\" style=\"\">Future Minerals Forum<\/a><\/span><span style=\"font-weight:400;\">, Riyadh, Saudi Arabia. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">FEBRUARY 2024<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>26-28 February (Monday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/conferences.uaeu.ac.ae\/warms2024\/en\/index.shtml\" style=\"\">Management and Sustainability of Water Resources<\/a><\/span><span style=\"font-weight:400;\">, Dubai, UAE.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">MARCH 2024<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>4-6 March (Monday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/dust.ncm.gov.sa\/register\/\" style=\"\">International Conference on Sand and Dust Storms in the Arabian Peninsula<\/a><\/span><span style=\"font-weight:400;\">, Riyadh, Saudi Arabia.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">APRIL 2024<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>16-18 April (Tuesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.worldfutureenergysummit.com\/\" style=\"\">World Future Energy Summit<\/a><\/span><span style=\"font-weight:400;\">, Abu Dhabi, UAE.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>16-18 April (Tuesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.middleeast-energy.com\/en\/home.html\" style=\"\">Middle East Energy<\/a><\/span><span style=\"font-weight:400;\">, Dubai, UAE. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>23-25 April (Tuesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.mena.gh2events.com\/\" style=\"\">Connecting Green Hydrogen MENA<\/a><\/span><span style=\"font-weight:400;\">, Dubai, UAE. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>30 April-2 May (Tuesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/aemobforum.com\/\" style=\"\">Autonomous E-Mobility Forum<\/a><\/span><span style=\"font-weight:400;\">, Doha, Qatar. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">MAY 2024<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>19-21 May (Sunday-Tuesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.saudienergyconvention.com\/\" style=\"\">Saudi Energy Convention<\/a><\/span><span style=\"font-weight:400;\">, Riyadh, KSA. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">JUNE 2024<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>5 June (Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.unep.org\/news-and-stories\/press-release\/saudi-arabia-host-world-environment-day-2024-focus-land-restoration\" style=\"\">World Environment Day<\/a><\/span><span>, Saudi Arabia.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">DECEMBER 2024<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>2-13 December (Monday-Friday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.unccd.int\/news-stories\/notifications\/sixteenth-session-unccd-conference-parties-cop-16-riyadh\" style=\"\">Conference of the Parties (COP16) to the United Nation Convention to Combat Desertification<\/a><\/span><span style=\"font-weight:400;\">, Riyadh, KSA.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">EVENTS WITH NO SET DATE<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">2024 <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>Early 2024: <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/us-algeria-energy-and-investment.org\/\" style=\"\">The 2023 US Algeria Energy Forum<\/a><\/span><span style=\"font-weight:400;\">, Washington DC, USA.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>12-14 February (Monday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.safcongressmena.com\/\" style=\"\">Sustainable Aviation Futures MENA Congress<\/a><\/span><span style=\"font-weight:400;\">, Dubai, UAE.  <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>End-2024: Emirati <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"http:\/\/ar.ae\" style=\"\">Masdar<\/a><\/span><span>\u2019s 500 MW wind farm in Uzbekistan to <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/13a804af-a659-4152-82b2-a3c920862f2b\" style=\"\">begin commercial operations<\/a><\/span><span style=\"font-weight:400;\">. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.qatarenergy.qa\/en\/Pages\/Home.aspx\" style=\"\">QatarEnergy<\/a><\/span><span>\u2019s industrial cities solar power project <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/afa55bc3-dec6-4f46-b806-25518b05cda1\" style=\"\">will start electricity<\/a><\/span><span style=\"font-weight:400;\"> production. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">2025 <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.iucn.org\/our-union\/iucn-world-conservation-congress\" style=\"\">International Union for Conservation of Nature World Conservation Congress<\/a><\/span><span style=\"font-weight:400;\">, Abu Dhabi, UAE. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>UAE to <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/9ec60000-0539-4d85-baf5-5beaf020a34f\" style=\"\">have over 1k<\/a><\/span><span style=\"font-weight:400;\"> EV charging stations installed. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">2026 <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>26-29 October (Monday-Thursday):  <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.spa.gov.sa\/en\/N2002883\" style=\"\">World Energy Congress<\/a><\/span><span style=\"font-weight:400;\">, Riyadh, Saudi Arabia.  <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/uitpsummit.org\/\" style=\"\">UITP Global Public Transport Summit<\/a><\/span><span style=\"font-weight:400;\">, Dubai, UAE.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.worldbank.org\/en\/news\/press-release\/2023\/04\/19\/imf-and-the-world-bank-group-to-hold-2026-annual-meetings-in-bangkok-thailand\" style=\"\">Annual Meetings of the World Bank and the International Monetary Fund<\/a><\/span><span style=\"font-weight:400;\">, Bangkok, Thailand.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>1Q 2026: <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.qatarenergy.qa\/en\/Pages\/Home.aspx\" style=\"\">QatarEnergy<\/a><\/span><span>\u2019s USD 1 bn blue ammonia plant <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/77469f6c-f938-4a97-8cac-3146b39b6cbe\" style=\"\">to be completed<\/a><\/span><span style=\"font-weight:400;\">.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>End-2026: HSBC Bahrain to <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/a2ead528-71fb-423b-a6f8-e18b2c9897d8\" style=\"\">eliminate single-use<\/a><\/span><span style=\"font-weight:400;\"> PVC plastic cards. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">2027<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>MENA\u2019s district cooling market is <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/59376411-8296-47dc-87cc-43ddc792bba4\" style=\"\">expected to reach<\/a><\/span><span style=\"font-weight:400;\"> USD 15 bn.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">2030 <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>UAE\u2019s Abu Dhabi Commercial Bank (ADCB) wants to <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/ea65a4f2-e77c-426b-8ad0-9120704954f6\" style=\"\">provide AED 35 bn<\/a><\/span><span style=\"font-weight:400;\"> in green financing. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>UAE <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/a9c832ed-f423-479e-884d-90cabefe3a0b\" style=\"\">targets 14 GW<\/a><\/span><span style=\"font-weight:400;\"> in clean energy capacity.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>Tunisia <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/7c5659c7-cf17-4cd6-9d18-c8afb5c643fb\" style=\"\">targets 30%<\/a><\/span><span style=\"font-weight:400;\"> of renewables in its energy mix.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>Qatar wants to <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/7881b1d2-724a-4914-ba85-0545e72901c9\" style=\"\">generate USD 17 bn<\/a><\/span><span style=\"font-weight:400;\"> from its circular economy, creating 9k-19k jobs. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>Morocco\u2019s <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/xlinks.co\/morocco-uk-power-project\/\" style=\"\">Xlinks<\/a><\/span><span> solar and wind energy project to <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/52aefc63-82e3-42e3-8afc-960461fa5288\" style=\"\">generate 10.5 GW<\/a><\/span><span style=\"font-weight:400;\"> of energy.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">2035 <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>Qatar to <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/77469f6c-f938-4a97-8cac-3146b39b6cbe\" style=\"\">capture up to 11 mn tons<\/a><\/span><span style=\"font-weight:400;\"> of CO2 annually. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">2045 <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">Qatar\u2019s Public Works Authority\u2019s (Ashghal) USD 1.5 bn sewage treatment facility to reach 600k cm\/d capacity. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">2050<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.facebook.com\/Presidencedugouvernementtunisien\/posts\/pfbid02urYKuUDF91i7dtVRR3yrSFzM4p5aG1JUormqfgnbjuUMTSGzmL2DrY8Z7wyfA7vBl?locale=ar_AR\" style=\"\">Tunisia\u2019s carbon neutrality target<\/a><\/span><span style=\"font-weight:400;\">.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">2060 <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>Nigeria aims to <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/ea65a4f2-e77c-426b-8ad0-9120704954f6\" style=\"\">achieve its net-zero<\/a><\/span><span> emissions target.<\/span><\/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":"<p>A new USD 4 bn green hydrogen plant in the SCZone | ADIB extends AED 1 bn green loan to Aldar | GERD talks crash and burn | KSA gets serious about solar<\/p>\n","protected":false},"featured_media":81406,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-81405","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"4d54f9c6-bdda-4af2-b79d-3d80cf8f6e0a","teaser":"A new USD 4 bn green hydrogen plant in the SCZone | ADIB extends AED 1 bn green loan to Aldar | GERD talks crash and burn | KSA gets serious about solar","photo_url":"https:\/\/ent.news\/2021\/9\/1652.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>Acwa Power set to build a USD 4 bn green hydrogen project in Egypt\u2019s SCZone - Climate<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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