{"id":83259,"date":"2024-03-26T00:00:00","date_gmt":"2024-03-26T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/climate\/?post_type=issue&#038;p=83259"},"modified":"2025-12-15T10:34:19","modified_gmt":"2025-12-15T10:34:19","slug":"saudis-pif-doubles-down-on-lucid-with-usd-1-bn-investment","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/climate\/issues\/saudis-pif-doubles-down-on-lucid-with-usd-1-bn-investment\/","title":{"rendered":"Saudi\u2019s PIF doubles down on Lucid with USD 1 bn investment"},"content":{"rendered":"<section id=\"83261\" 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=\"83261\">\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\/2024\/03\/26\/today-saudis-pif-doubles-down-on-lucid-with-usd-1-bn-investment\/\">\r\n                            TODAY: Saudi\u2019s PIF doubles down on Lucid with USD 1 bn investment                        <\/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\/2024\/03\/26\/today-saudis-pif-doubles-down-on-lucid-with-usd-1-bn-investment\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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The legislation for the EU\u2019s nature restoration policy still hasn't passed as Hungary withdrew its support, prompting the cancellation of a scheduled vote among EU environment ministers. The law, aimed at restoring damaged ecosystems across a fifth of EU land and sea by 2030, has been met with resistance amid concerns over its impact on agriculture and other industries. Revisions in recent weeks have attempted to soften numerous policies within the legislature to satisfy concerned farmers who are criticizing the law as excessive. A group of EU countries led by Austria is calling for more revisions stating \u201ctackling deforestation \u2026 must not be to the detriment of the European economy, in particular the European agriculture and forestry sector.\u201d <strong>The story was picked up by <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/environment\/eu-members-call-revision-anti-deforestation-law-2024-03-25\/\" style=\"\" rel=\"noopener\">Reuters<\/a><\/strong><strong> and <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.theguardian.com\/world\/2024\/mar\/25\/eu-nature-restoration-laws-in-balance-as-member-states-withdraw-support\" style=\"\" rel=\"noopener\">The Guardian<\/a><\/strong><strong>.<\/strong><\/p>\n<p class=\"tag-border-left\">WATCH THIS SPACE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- Egypt\u2019s New and Renewable Energy Authority (NREA) has earmarked EGP 3.7 bn <\/strong><strong>over the next fiscal year to finance renewable energy projects in a draft budget<\/strong>, according to a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid02PgSDz5UFPwWdogkbKqZUW86ewt3X1i3ey6wycDnm49ZQgcE1TAY8Tvjsg9KhSpfCl\" style=\"\" rel=\"noopener\">statement<\/a>. These projects include a <a target=\"_blank\" href=\"https:\/\/enterprise.press\/stories\/2018\/04\/02\/jica-and-nrea-sign-usd-106-mn-loan-for-20-mw-hurghada-solar-power-plant-2\/\" style=\"\" rel=\"noopener\">20 MW solar power plant<\/a> in Hurghada, established in collaboration with the Japan International Cooperation Agency. NREA also reviewed presidential decisions to earmark 41k sq km of lands for renewable energy projects.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a id=\"wwtt1\"><\/a>#2- Jordan is extending its tender for a <\/strong><strong>solar<\/strong><strong> power plant in Azraq for another 20 days<\/strong>,<strong> <\/strong>according to <a target=\"_blank\" href=\"https:\/\/www.jordannews.jo\/Section-109\/News\/Deadline-for-Azraq-Solar-Energy-Project-extended-to-April-18-34891\" style=\"\" rel=\"noopener\">A<\/a><a target=\"_blank\" href=\"https:\/\/www.jordannews.jo\/Section-109\/News\/Deadline-for-Azraq-Solar-Energy-Project-extended-to-April-18-34891\" style=\"\" rel=\"noopener\">l Ghad<\/a>. The plan is to build a solar power plant in the town of Azraq which will be funded by a loan through a debt swap agreement from Spain. The bidding \u2014 now extended to 18 April \u2014 is for the construction, operation, and maintenance of the plant. The plant\u2019s capacity and costs have not been disclosed yet but Spain had previously funded a similar project in the same town with USD 5 mn. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a id=\"wwtt2\"><\/a>#3- OPEC\u2019s not playing the phaseout game:&nbsp;<\/strong>OPEC sees a fossil fuel phaseout as \u201cwrong and unrealistic,\u201d its Secretary General Haitham Al Ghais told <a target=\"_blank\" href=\"https:\/\/www.kuna.net.kw\/ArticleDetails.aspx?id=3142934&amp;language=en\" style=\"\" rel=\"noopener\">Kuwait News Agency<\/a> (KUNA) in an interview. \"It would also have catastrophic impacts on mns of people losing their jobs. It would also put manufacturing worldwide to a halt, slow global economic growth and worsen energy poverty in many countries\u2026,\u201d he said. Instead, OPEC members\u2019 expertise in the industry should be put towards developing innovative solutions to lower emissions.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Oil \u2014 \u201cthe lifeblood of modern life\u201d \u2014 is fueling the production of <\/strong><strong>renewable energy: <\/strong>\u201cIf oil disappeared, this would also affect the production of renewable energy, such as manufacturing of wind turbines and solar panels, as their production is linked to oil products,\u201d Al Ghais said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#4-<\/strong><strong>More details emerge on the US\u2019 blockbuster decarbonization initiative: <\/strong>The USD 6.3 bn grant program aimed at <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/2e7b15fd-0d33-4f22-8d34-5027ee72ae15\/today:-oman%25e2%2580%2599s-hydrom-%2B-germany%25e2%2580%2599s-vng-talk-green-hydrogen-and-ammonia-exports#:~:text=8%2D%20The%20US%20earmarks%20USD%20bns%20for%20hard%2Dto%2Ddecarbonize%20industries%3A\" style=\"\" rel=\"noopener\">helping hard-to-abate industries decarbonize<\/a> will go towards 33 industrial projects in 20 states, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/sustainability\/sustainable-finance-reporting\/us-awards-record-6-bln-back-industrial-emissions-reduction-projects-2024-03-25\/\" style=\"\" rel=\"noopener\">Reuters<\/a> reports. Steelmaker Cleveland-Cliffs and Century Aluminum will receive up to USD 500 mn from the grant each, chemicals manufacturer Dow Chemical will receive USD 95 mn, multinational food company Kraft Heinz will get USD 170.9 mn, and oil giant ExxonMobil will receive USD 331.9 mn. The funding could cut down emissions by 14 mn metric tons annually \u2014 the equivalent of eliminating 3 mn gas vehicles from the roads, Energy Secretary Jennifer Granholm said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a id=\"wwtt3\"><\/a>IN OTHER US NEWS- China, Russia object to US expansion in deep-sea mining: <\/strong>China and Russia have contested US attempts to claim an additional 1 mn sq km of seabed in its continental shelf containing critical minerals like copper, nickel, cobalt and manganese, <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/0e550c72-c6b1-42ac-876b-22aa49c2057b\" style=\"\" rel=\"noopener\">The<\/a><a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/0e550c72-c6b1-42ac-876b-22aa49c2057b\" style=\"\" rel=\"noopener\">Financial Times<\/a> reports. The objections come after the US said it would extend its jurisdiction over a resource-rich seabed area that makes up its continental shelf back in December. US officials have written to the Senate to push for the ratification of the 1982 <a target=\"_blank\" href=\"https:\/\/www.imo.org\/en\/ourwork\/legal\/pages\/unitednationsconventiononthelawofthesea.aspx#:~:text=The%20United%20Nations%20Convention%20on,the%20oceans%20and%20their%20resources.\" style=\"\" rel=\"noopener\">United Nations Convention on the Law of the Sea (Unclos)<\/a> arguing that failing to do so would allow China \u2014 which already holds a monopoly on critical mineral supply \u2014 to swoop in and take over the available battery metals, US House Representative for Virginia Rob Wittman told FT.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Deep-sea mining has faced backlash from environmental groups: <\/strong>Mining for critical minerals poses significant risks to the deep ocean, with potential irreversible impacts on biodiversity and disturbance to the planet's largest carbon sink, according to the <a target=\"_blank\" href=\"https:\/\/deep-sea-conservation.org\/key-threats\/\" style=\"\" rel=\"noopener\">Deep Sea Conservation Coalition<\/a>. There is still not enough evidence on the extent of damage deep-sea mining can cause as it is still in its experimental stages. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a id=\"wwtt4\"><\/a>#5- French lender Credit Agricole won\u2019t fund two major LNG projects<\/strong>, one in Papua New Guinea and the other in Mozambique, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/finance\/credit-agricole-says-it-will-not-fund-rovuma-lng-project-2024-03-25\/\" style=\"\" rel=\"noopener\">Reuters<\/a> reports. Credit Agricole was the original financial advisor to both projects, which are being led by bid names including ExxonMobil, Eni, and TotalEnergies. The move comes as some big global banks step away from new hydrocarbon projects. Barclays <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/uk\/barclays-adopt-fresh-curbs-oil-gas-financing-2024-02-09\/\" style=\"\" rel=\"noopener\">said last month<\/a> that it would stop \u201cdirect financing of new oil and gas fields and restrict lending more broadly to energy companies expanding fossil fuel production.\u201d<\/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\">***<\/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&nbsp;<\/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;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The UAE will host the World Future Energy Summit from Tuesday, 16 April to Thursday, <\/strong><strong>18 April <\/strong>in Abu Dhabi. The summit will address solutions for development in the transformation of future energy systems. The summit will also feature discussions on recycling, waste-to-energy, and air-to-water trends and progressions. <\/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 Connecting Green Hydrogen MENA event from Tuesday, 23 <\/strong><strong>April to Thursday, 25 April<\/strong> in Dubai. The event will explore green hydrogen partnerships, policies, and practices in the region, in parallel to a showcasing of the latest in the clean fuel\u2019s technology. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Oman will host the Oman Sustainability Week from Sunday, 28 April to Thursday, <\/strong><strong>2 May <\/strong>in Muscat. The event will focus on exploring investment opportunities and implementing best practices in sustainability within the energy, water, and environmental sectors.<\/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>The UAE will host The Electric Vehicle Innovation Summit from Monday, 20 May to <\/strong><strong>Wednesday, 22 May <\/strong>in Abu Dhabi. The event will see industry leaders come together to discuss sustainable mobility and tapping into groundbreaking advancements in electric vehicles while engaging with key decision-makers.<\/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\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/decarbonization\/\">decarbonization<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/emissions\/\">emissions<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/jordan\/\">Jordan<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/mena\/\">MENA<\/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\/what-were-tracking-today\/\">WHAT WE\u2019RE TRACKING TODAY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"83263\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">      \r\n<section id=\"advertiser\" class=\"enterprise-adv issue-section\">\r\n    <div class=\"issue-section__content\" style=\"flex-direction: column;\">\r\n      <h4 class=\"wp-block-heading has-text-align-center has-normal-font-size\">\r\n        <span class=\"has-primary-color stk-highlight\"> This publication is proudly sponsored by<\/span>\r\n    <\/h4>\r\n\r\n    <div class=\"issue-sponsor-slide issue-sponsor-slide--single-slide mx-auto\">\r\n        <img data-recalc-dims=\"1\" decoding=\"async\" draggable=\"false\" src=\"https:\/\/i0.wp.com\/ent.news\/internal\/25497.png?ssl=1\">\r\n        <div class=\"overlay\"><\/div>\r\n        <div class=\"content\">\r\n            <a draggable=\"false\" href=\"https:\/\/www.hsbc.com.eg\/\" target=\"_blank\" class=\"logo\" rel=\"noopener\">\r\n                <img decoding=\"async\" draggable=\"false\" src=\"https:\/\/ent.news\/internal\/25398.svg\" alt=\"\">\r\n            <\/a>\r\n            <span>Opening up a world of opportunity<\/span>\r\n        <\/div>\r\n    <\/div>\r\n\r\n      <\/div>\r\n<\/section> \r\n\r\n\n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"83264\" 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=\"83264\">\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\">INVESTMENT WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/climate\/2024\/03\/26\/saudis-pif-doubles-down-on-lucid-with-usd-1-bn-investment\/\">\r\n                            Saudi\u2019s PIF doubles down on Lucid with USD 1 bn investment                        <\/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\/2024\/03\/26\/saudis-pif-doubles-down-on-lucid-with-usd-1-bn-investment\/\" 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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PIF unit Ayar Third Investment Company will execute the transaction, which will see it buy convertible preferred stock. The EV maker raised <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/164d3c23-8edb-4696-8085-1dfa7004263b\/lucid%25e2%2580%2599s-revenues-increase-35.5%2525-y-o-y-while-net-losses-deepen-by-71.2%2525\" style=\"\" rel=\"noopener\">USD 3 bn<\/a> in capital in 2Q 2023 of which USD 1.8 bn came from the PIF.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The potential proceeds will finance the company\u2019s capex and working capital<\/strong>, among other things, the statement reads.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What they said:<\/strong> \u201cWith their support, we remain focused upon accelerating our growth via deliveries, executing key business initiatives with relentless focus upon cost, and launching our game-changing Gravity SUV later this year,\" said Lucid CEO and CTO Peter Rawlinson.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Market reacts quickly: <\/strong>Lucid\u2019s share prices rose 5.4% to <a target=\"_blank\" href=\"https:\/\/www.nasdaq.com\/market-activity\/stocks\/lcid\" style=\"\" rel=\"noopener\">USD 2.90 a piece<\/a> at yesterday\u2019s close. Lucid shares are down 31% since the beginning of the year, in large part reflecting the belief among some pundits that US appetite for EVs \u2014 which rose to a peak during covid \u2014 has fallen off. A number of high-profile conventional car makers have said in the past two months that they\u2019re downsizing their electric vehicle plans.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Uh, Enterprise? What\u2019s convertible preferred stock? <\/strong>You can think of it as a kind of hybrid between equity and a bond. PIF\u2019s Ayar is giving Lucid USD 1 bn. There are three keys here: \u201cpreferred\u201d means that Ayar gets dividend payments if Lucid starts making them, just like regular preferred stock. But Ayar is also locking in an upside: It\u2019s not buying common stock in the company. If the value of Lucid\u2019s shares go above the price at which Ayar bought in, it can \u2014 if it wants \u2014 swap its convertible preferred stock for ordinary shares and book the difference in value as gain on the investment. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The statement doesn\u2019t get into any conditions on the conversion <\/strong>or the implied price per share at which Ayar is buying in. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Digging beyond PIF\u2019s deep pockets:<\/strong> Lucid CEO Peter Rawlinson recently <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/7047b8db-edde-4623-bcb5-6bb902ec50ce\/today:-egypt-could-be-lining-up-an-usd-1.2-bn-climate-finance-agreement\" style=\"\" rel=\"noopener\">told<\/a> the Financial Times his company cannot depend on the \u201cbottomless wealth\u201d of its Saudi owner and therefore needs to raise funds this year. \u201cIt\u2019s inevitable we need to raise in the future, it\u2019s just a question of when,\u201d Rawlinson said. \u201cWe need to pick our moment.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- <\/strong>Lucid Motors saw its <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/45addd05-96d8-4b06-8fef-e0c7a2644485\/lucid-remains-in-the-red-in-2023.-plus:-results-from-qassim-cement,-thob-al-aseel\" style=\"\" rel=\"noopener\">net loss for 2023 come in at USD 2.8 bn<\/a>, more than double the USD 1.3 bn it lost the year before. Revenues dipped 2% y-o-y to USD 595 mn in 2023. For the fourth quarter, the automaker\u2019s losses came in at USD 654 mn, against USD 473 mn in the comparable period.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/evs\/\">EVs<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/investment-watch\/\">INVESTMENT WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/lucid-motors\/\">Lucid Motors<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/pif\/\">PIF<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/saudi-arabia\/\">Saudi Arabia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"83266\" 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=\"83266\">\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\">SOLAR<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/climate\/2024\/03\/26\/project-update-algeria-breaks-ground-on-first-solar-project-of-its-3-gw-program\/\">\r\n                            Project update: Algeria breaks ground on first solar project of its 3 GW program                        <\/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\/2024\/03\/26\/project-update-algeria-breaks-ground-on-first-solar-project-of-its-3-gw-program\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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The 200 MW project is located in the El M'ghair region and is expected to be completed in 14 months. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>About the first phase:<\/strong> The 200 MW first phase extends over an area of 400 hectares, and will be split into 20 solar farms, each with the capacity of 20 MW, Algerian Minister of Energy Mohamed Arkab said. The phase will be built using 346k solar panels, in addition to the control building, 20 transformers, and a 30 kilovolt substation. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Algeria has big renewable energy ambitions: <\/strong>Sonelgaz awarded 20 solar projects with a total capacity of 3 GW to a mix of local companies and foreign companies <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/c8041727-2fad-4327-af0f-fd6901a70d8f\/algeria%25e2%2580%2599s-sonelgaz-awards-contracts-for%253cmark%253e-3-gw-%253c%2Fmark%253eof-solar-projects\" style=\"\" rel=\"noopener\">last week<\/a>. The 20 solar plants will be constructed across 17 provinces and were tendered starting last October, attracting 20 bidders and a total of 77 offers. The companies awarded contracts, the investment tickets for individual projects, and the timelines for development were not disclosed. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>All part of a bigger plan:<\/strong> Algeria has handed Sonelgaz the responsibility of producing 15 GW of renewable energy by 2035 from renewables. The country had about 423 MW of solar capacity installed by the end of 2021, according to the International Renewable Energy Agency.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/algeria\/\">Algeria<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/solar\/\">SOLAR<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/solar-energy\/\">solar energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"83268 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=\"83268\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/climate\/2024\/03\/26\/83268\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-83268\" class=\"content-area-description single-story post-83268 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\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=\"83269\" 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=\"83269\">\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\/2024\/03\/26\/climate-change-induced-water-crisis-worsens-global-conflicts-un-says\/\">\r\n                            Climate change induced water crisis worsens global conflicts, UN says                        <\/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\/2024\/03\/26\/climate-change-induced-water-crisis-worsens-global-conflicts-un-says\/\" 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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Water security and ecosystem preservation are closely linked to peace and prosperity as it fosters health, livelihoods, and economic development, the report concludes, adding that water scarcity or mismanagement can amplify conflict and inequalities, particularly impacting the most vulnerable populations. Severe water scarcity affects about half of the world's population, with one-quarter facing extremely high water stress, using over 80% of their annual renewable freshwater supply. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>But conflict also compounds the water crisis further, creating a vicious cycle:<\/strong> Seven Arab countries were in conflict in 2021, posing significant challenges to water supply and infrastructure, according to the report. A lack of cooperation makes it difficult to navigate the climate crisis, or ensure equitable access to good quality water and sanitation, it explains. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Considering climate change factors could help reduce the impact of conflicts: <\/strong>Building infrastructure that can withstand the impacts of climate change can help maintain the value of investments and ensure basic services even in uncertain conditions, the report said, adding that protecting assets in low- and middle-income countries from climate-induced hazards can provide benefits worth four times the cost. Planning for various future scenarios, such as organizing flood risk management and freshwater supply, ensures that infrastructure can endure climate challenges beyond expected extremes. Nature-based solutions can aid the environment and local communities as they are usually cost-effective, and environmental scientists and educators can also play a significant role in promoting peace. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Arab countries need to enhance cooperation to improve water resilience:<font face=\"Arial\">&nbsp;<\/font><\/strong>With 19 out of 22 Arab nations facing water scarcity, cooperation across borders and sectors is critical. Two-thirds of freshwater resources are shared among countries, with 43 transboundary <a target=\"_blank\" href=\"https:\/\/education.nationalgeographic.org\/resource\/aquifers\/\" style=\"\" rel=\"noopener\">aquifers<\/a> covering 58% of the area. Yet, insufficient data on water resources, especially groundwater, and competition between states near bodies of water have hindered cooperation.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Efforts to cooperate have worked in the past in North Africa:<\/strong> The North-Western Sahara Aquifer System (NWSAS) serves as a transboundary non-renewable water resource for 5 mn people across Algeria, Libya and Tunisia. Although it doesn\u2019t impose legal restrictions on groundwater abstraction, the NWSAS promotes cooperation in the region and serves as a model for future aquifer collaborations. Similarly, Jordan and Saudi Arabia have agreed to share the Saq-Ram\/Disi aquifer since 2007. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Climate change is intensifying the global water cycle:<\/strong> Record rainfall extremes and meteorological droughts have been on the rise globally, with climate change expected to further intensify these patterns, the report explains. This projection includes increased frequency and severity of droughts and floods, leading to more extreme weather events and seasons. Climate-related water and vector-borne diseases are anticipated to increase worldwide along with substantial damages and irreversible losses in freshwater ecosystems. Least developed countries will face the most severe impacts, including small islands and the Arctic. Indigenous communities, small-scale food producers, and low-income households especially will be affected. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Who\u2019s most impacted by conflict sparked by water scarcity? <\/strong>Lower income countries face challenges in wastewater treatment, especially as data on water quality is limited. Higher income countries however struggle with agricultural water runoff, which carries fertilizers and pesticides into freshwater sources. Women and girls in developing countries often bear the burden of securing and managing household and agricultural water needs, adding to their unpaid domestic workload. Conflict-related displacement leads to overcrowded living conditions without adequate sanitation facilities which poses health risks to vulnerable groups. Water scarcity and prolonged droughts increase the risks of violence against displaced women and girls as seen in Somalia with a 200% increase in gender-based violence among displaced populations.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/climate-change\/\">climate change<\/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\/mena\/\">MENA<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/water-scarcity\/\">water scarcity<\/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=\"83271\" 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=\"83271\">\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\/2024\/03\/26\/hyundai-exploring-rolling-out-electric-and-hydrogen-fueled-vehicles-in-ksa-resorts\/\">\r\n                            Hyundai exploring rolling out electric and hydrogen-fueled vehicles in KSA resorts                        <\/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\/2024\/03\/26\/hyundai-exploring-rolling-out-electric-and-hydrogen-fueled-vehicles-in-ksa-resorts\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" 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          <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Hyundai exploring rolling out electric and hydrogen-fueled vehicles in KSA resorts&url=https:\/\/enterpriseam.com\/climate\/2024\/03\/26\/hyundai-exploring-rolling-out-electric-and-hydrogen-fueled-vehicles-in-ksa-resorts\/\">\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\/2024\/03\/26\/hyundai-exploring-rolling-out-electric-and-hydrogen-fueled-vehicles-in-ksa-resorts\/&title=Hyundai exploring rolling out electric and hydrogen-fueled vehicles in KSA resorts\">\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=Hyundai+exploring+rolling+out+electric+and+hydrogen-fueled+vehicles+in+KSA+resorts+https%3A%2F%2Fenterpriseam.com%2Fclimate%2F2024%2F03%2F26%2Fhyundai-exploring-rolling-out-electric-and-hydrogen-fueled-vehicles-in-ksa-resorts%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\/2024\/03\/26\/hyundai-exploring-rolling-out-electric-and-hydrogen-fueled-vehicles-in-ksa-resorts\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/2252.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"83272\" data-permalink=\"https:\/\/enterpriseam.com\/climate\/2024\/03\/26\/hyundai-exploring-rolling-out-electric-and-hydrogen-fueled-vehicles-in-ksa-resorts\/2252-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/2252.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2252.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/2252.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/2252.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-83271\" class=\"content-area-description single-story post-83271 post type-post status-publish format-standard has-post-thumbnail hentry category-also-on-our-radar tag-also-on-our-radar tag-enterpriseclimate tag-evs tag-oman tag-red-sea-global tag-saudi-arabia 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\/2024\/3\/.d70a8b6f-5e31-4326-9cbd-09b942826d7f.mp3\"><\/audio><\/figure><p class=\"tag-border-left\">ELECTRIC VEHICLES-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><\/strong><strong>RSG + Hyundai have eco-friendly mobility plans for KSA resorts:<font face=\"Arial\">&nbsp;<\/font><\/strong>PIF-owned developer <a target=\"_blank\" href=\"https:\/\/www.redseaglobal.com\/en\/\" style=\"\" rel=\"noopener\">Red Sea Global<\/a> (RSG) has inked a MoU with Korea\u2019s Hyundai Motor Group that will see them validate Hyundai\u2019s eco-friendly mobility solutions at RSG\u2019s resorts in the kingdom, according to a <a target=\"_blank\" href=\"https:\/\/www.redseaglobal.com\/en\/-\/red-sea-global-and-hyundai-motor-group-drive-eco-friendly-mobility-solutions-in-developer-s-luxury-resorts\" style=\"\" rel=\"noopener\">statement<\/a>. These solutions include the deployment of battery electric and hydrogen-fueled cell vehicles in the short term, and autonomous vehicles, advanced air mobility, and maritime vessels in the long term.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- <\/strong>RSG inked an agreement with Naqel Express \u2014 a subsidiary of Saudi Post Logistics \u2014 <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/23956d8f-bb70-4b57-b2fe-31e886440c13\/iraq-%2B-jordan-sign-new-interconnection-agreement\" style=\"\" rel=\"noopener\">last month<\/a> to operate all long-haul and local transportation services for the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/4462380b-8c5d-4073-9989-79f8893efd61\" style=\"\" rel=\"noopener\">Red Sea Project<\/a> using biofuel and EVs and <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/3bb33485-1fec-47c5-b708-da856a1b02db\/ksa%25e2%2580%2599s-red-sea-global-shifts-to-low-carbon-biofuel-for-land-vehicles-fleet\" style=\"\" rel=\"noopener\">converted its full fleet of land vehicles to operate solely on low-carbon biofuel or electricity<\/a> back in January.<\/p>\n<p class=\"tag-border-left\">RENEWABLES-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Oman signs agreement for USD 667 electricity transmission expansion<\/strong><b>:<\/b><strong> <\/strong>The Oman Electricity Transmission Company signed an agreement with several energy companies for the second phase of a project to extend 400 kilovolt lines to wind plants in Ras Nudraka, Harweel, and the Thumrait station by 2027, according to <a target=\"_blank\" href=\"https:\/\/www.omandaily.om\/%D8%A7%D9%84%D8%A7%D9%82%D8%AA%D8%B5%D8%A7%D8%AF%D9%8A%D8%A9\/na\/%D8%AA%D9%88%D9%82%D9%8A%D8%B9-%D8%A7%D8%AA%D9%81%D8%A7%D9%82%D9%8A%D8%A9-%D8%B1%D8%A8%D8%B7-%D8%A7%D9%84%D9%85%D8%B1%D8%AD%D9%84%D8%A9-%D8%A7%D9%84%D8%AB%D8%A7%D9%86%D9%8A%D8%A9-%D9%88%D8%AA%D9%88%D8%B3%D8%B9%D8%A9-%D8%B4%D8%A8%D9%83%D8%A9-%D8%A7%D9%84%D9%83%D9%87%D8%B1%D8%A8%D8%A7%D8%A1-%D9%81%D9%8A-%D9%85%D8%AD%D8%A7%D9%81%D8%B8%D8%A9-%D8%B8%D9%81%D8%A7%D8%B1-%D8%A8-322-%D9%85%D9%84%D9%8A%D9%88%D9%86-%D8%B1%D9%8A%D8%A7%D9%84\" style=\"\" rel=\"noopener\">Oman Daily<\/a>. The project \u2014 in which Larsen &amp; Toubro, Al Zawawi Energy, and Oman National Engineering are involved \u2014 will also expand the main transmission network to the Dhofar electricity network. Upgrading transmission lines is a necessary step towards adding renewable energy to the main electricity grid, which is in line with Oman\u2019s 2040 carbon neutrality vision, the outlet explains.<\/p>\n<p class=\"tag-border-left\">GREEN HYDROGEN- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>KSA launches world\u2019s first training program for green hydrogen workers: <\/strong>Saudi\u2019s <a target=\"_blank\" href=\"https:\/\/ewa.edu.sa\/\" style=\"\" rel=\"noopener\">Energy and Water Academy<\/a> (EWA) has launched a program aimed at training local talent at green hydrogen companies in Neom, Jubail and other cities, CEO Tariq Alshamrani told <a target=\"_blank\" href=\"https:\/\/www.aleqt.com\/2024\/03\/24\/article_2711666.html\" style=\"\" rel=\"noopener\">Al Eqtisadiah<\/a> in an interview earlier this week. EWA is the only academy globally offering the specialized training, Alshamrani said, adding that the program was accredited by the government's Technical and Vocational Training Corporation (TVTC) and British vocational education provider City &amp; Guilds. EWA was established by renewables giant Acwa Power and TVTC in 2009.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>More details: <\/strong>The new two-year program, set to kick off by year end, will include a cohort of between 50 to 100 male and female trainees at green hydrogen companies across the Kingdom. The program would help serve mega developmental projects, boost sustainability and drive momentum for energy transformation, Alshamrani said in a <a target=\"_blank\" href=\"https:\/\/twitter.com\/TTalshamrani\/status\/1771937293676228723\" style=\"\" rel=\"noopener\">post on X<\/a>.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/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\/evs\/\">EVs<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/oman\/\">Oman<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/red-sea-global\/\">Red Sea Global<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/saudi-arabia\/\">Saudi Arabia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"83273\" 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=\"83273\">\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\/2024\/03\/26\/jera-exxon-have-hydrogen-and-ammonia-production-plans\/\">\r\n                            Jera + Exxon have hydrogen and ammonia production plans                        <\/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\/2024\/03\/26\/jera-exxon-have-hydrogen-and-ammonia-production-plans\/\" 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\/2024\/03\/26\/jera-exxon-have-hydrogen-and-ammonia-production-plans\/')\">\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\/2024\/03\/26\/jera-exxon-have-hydrogen-and-ammonia-production-plans\/\">\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=Jera + Exxon have hydrogen and ammonia production plans&url=https:\/\/enterpriseam.com\/climate\/2024\/03\/26\/jera-exxon-have-hydrogen-and-ammonia-production-plans\/\">\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\/2024\/03\/26\/jera-exxon-have-hydrogen-and-ammonia-production-plans\/&title=Jera + Exxon have hydrogen and ammonia production plans\">\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=Jera+%2B+Exxon+have+hydrogen+and+ammonia+production+plans+https%3A%2F%2Fenterpriseam.com%2Fclimate%2F2024%2F03%2F26%2Fjera-exxon-have-hydrogen-and-ammonia-production-plans%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\/2024\/03\/26\/jera-exxon-have-hydrogen-and-ammonia-production-plans\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/2311.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"83274\" data-permalink=\"https:\/\/enterpriseam.com\/climate\/2024\/03\/26\/jera-exxon-have-hydrogen-and-ammonia-production-plans\/2311-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/2311.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2311.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/2311.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/2311.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-83273\" class=\"content-area-description single-story post-83273 post type-post status-publish format-standard has-post-thumbnail hentry category-around-the-world tag-ammonia tag-around-the-world tag-enterpriseclimate tag-green-hydrogen 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\/2024\/3\/.7465e14b-68de-478a-a7c9-b06e356e56b0.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Green <\/strong><strong>investment funds in the UK are facing a critical vote on whether they <\/strong><strong>should continue trading as their share prices continue to drop<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/78f1e743-2d69-4cf0-9418-4177adf2b3eb\" style=\"\" rel=\"noopener\">The Financial Times<\/a> reports. The largest trust, <a target=\"_blank\" href=\"http:\/\/www.greencoat-ukwind.com\" style=\"\" rel=\"noopener\">Greencoat UK Wind<\/a>, along with others, is approaching the threshold that triggers a vote on whether they should continue operations. The sector, which plays a pivotal role in funding renewable energy projects, was affected by high inflation and rising interest rates, leading to a shift in investor interest towards lower-risk assets. This resulted in trusts trading at significant discounts to their net asset value, restricting their ability to raise equity for green asset investments. Strict fee disclosure rules have also made these trusts relatively more expensive, which experts argue has depressed share prices. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Jera + Exxon to collaborate on hydrogen and ammonia production:<\/strong> Japan\u2019s biggest power producer Jera and US oil giant ExxonMobil have agreed to explore cooperation in low-carbon hydrogen and ammonia production in the US, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/energy\/jera-exxon-explore-development-hydrogen-ammonia-production-project-us-2024-03-25\/\" style=\"\" rel=\"noopener\">Reuters<\/a> reports. Jera will explore both investing and entering an offtake agreement for 500k tons of low-carbon ammonia annually from Exxon\u2019s low-carbon hydrogen production plant in Texas \u2014 which is currently under construction. The plant \u2014 scheduled for operation in 2028 \u2014 is expected to be the largest of its kind in the world with a capacity of 900k metric tons of hydrogen and over 1 mn tons of ammonia. <\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/ammonia\/\">AMMONIA<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/around-the-world\/\">AROUND THE WORLD<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/green-hydrogen\/\">green hydrogen<\/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=\"83275\" 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=\"83275\">\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\/2024\/03\/26\/activists-want-big-oil-to-face-charges-over-mns-of-climate-linked-deaths\/\">\r\n                            Activists want Big Oil to face charges over mns of climate-linked deaths                        <\/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\/2024\/03\/26\/activists-want-big-oil-to-face-charges-over-mns-of-climate-linked-deaths\/\" 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\/2024\/03\/26\/activists-want-big-oil-to-face-charges-over-mns-of-climate-linked-deaths\/')\">\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\/2024\/03\/26\/activists-want-big-oil-to-face-charges-over-mns-of-climate-linked-deaths\/\">\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=Activists want Big Oil to face charges over mns of climate-linked deaths&url=https:\/\/enterpriseam.com\/climate\/2024\/03\/26\/activists-want-big-oil-to-face-charges-over-mns-of-climate-linked-deaths\/\">\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\/2024\/03\/26\/activists-want-big-oil-to-face-charges-over-mns-of-climate-linked-deaths\/&title=Activists want Big Oil to face charges over mns of climate-linked deaths\">\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=Activists+want+Big+Oil+to+face+charges+over+mns+of+climate-linked+deaths+https%3A%2F%2Fenterpriseam.com%2Fclimate%2F2024%2F03%2F26%2Factivists-want-big-oil-to-face-charges-over-mns-of-climate-linked-deaths%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\/2024\/03\/26\/activists-want-big-oil-to-face-charges-over-mns-of-climate-linked-deaths\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/1820.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"83276\" data-permalink=\"https:\/\/enterpriseam.com\/climate\/2024\/03\/26\/activists-want-big-oil-to-face-charges-over-mns-of-climate-linked-deaths\/1820-jpg-5\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/1820.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1820.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/1820.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/1820.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-83275\" class=\"content-area-description single-story post-83275 post type-post status-publish format-standard has-post-thumbnail hentry category-climate-in-the-news tag-climate-in-the-news tag-emissions tag-enterpriseclimate 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\/2024\/3\/.f2a89819-7d67-4233-b565-c37319248081.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Activists want f<\/strong><strong>ossil <\/strong><strong>fuel companies charged with murder over <\/strong><strong>climate-related <\/strong><strong>deaths:<\/strong> Researchers and legal experts are proposing a legal theory that would hold fossil fuel companies criminally accountable for climate-related deaths, <a target=\"_blank\" href=\"https:\/\/www.theguardian.com\/us-news\/2024\/mar\/21\/fossil-fuel-companies-homicide-climate-deaths-lawsuit\" style=\"\" rel=\"noopener\">The Guardian<\/a> writes. The proposal, put forward by advocacy group <a target=\"_blank\" href=\"https:\/\/www.citizen.org\/\" style=\"\" rel=\"noopener\">Public Citizen<\/a>, suggests that companies should face criminal charges due to their significant contributions to climate change and the concealment of its dangers from the public which kills mns each year. The idea is gaining interest among legal professionals and public officials, although it faces legal and practical challenges including proving causality between a company's actions and any particular climate-related death. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>By the numbers: <\/strong>Emissions resulting from the fossil fuel production of major companies could lead to 11.5 mn excess <a target=\"_blank\" href=\"https:\/\/www.npr.org\/sections\/health-shots\/2023\/07\/23\/1189506023\/heres-what-happens-to-the-body-in-extreme-temperatures-and-how-heat-becomes-dead#:~:text=Of%20all%20extreme,with%20high%20humidity\" style=\"\" rel=\"noopener\">heat-related deaths<\/a> by 2100, according to <a target=\"_blank\" href=\"https:\/\/www.globalwitness.org\/en\/campaigns\/fossil-gas\/the-supermajors-plans-could-kill-115-million-people\/?utm_source=hootsuite&utm_medium=twitter_\" style=\"\" rel=\"noopener\">research<\/a> by international NGO Global Witness. The companies \u2014 which include Shell, BP, TotalEnergies, ExxonMobil, and Chevron \u2014 are expected to contribute 51 bn tons of CO2 emissions to the atmosphere from now until 2050. The oil giants have disregarded scientists' pleas to decrease emissions, and have instead escalated oil and gas production, Global Witness concluded, pointing to ExxonMobil and Chevron\u2019s recent USD 100 bn investment in fossil fuel reserves, BP and Shell\u2019s move to weaken their climate commitments, and TotalEnergies\u2019 intention to increase production.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Big Oil pushes back:<\/strong> TotalEnergies disagree with Global Witness\u2019s analysis particularly the inclusion of Scope 3 emissions which it deemed biased and unrealistic in attributing responsibility. The company also did not acknowledge the <a target=\"_blank\" href=\"https:\/\/www.nature.com\/articles\/s41467-021-24487-w\" style=\"\" rel=\"noopener\">mortality cost<\/a><a target=\"_blank\" href=\"https:\/\/www.nature.com\/articles\/s41467-021-24487-w\" style=\"\" rel=\"noopener\">of carbon<\/a> methodology used. <\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/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\/emissions\/\">emissions<\/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=\"83277\" 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\/2024\/03\/26\/83277\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-83277\" class=\"content-area-description single-story post-83277 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;\">MARCH 2024<\/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;\">19-29 March (Tuesday-Friday): International Seabed Authority Assembly and Council, Kingston, Jamaica. <\/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 style=\"font-weight:400;\">16-18 April (Tuesday-Thursday): World Future Energy Summit, Abu Dhabi, 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:400;\">16-18 April (Tuesday-Thursday): Middle East Energy, 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:400;\">19 April (Friday): Global Stocktaking on SDG7, New York, US. <\/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;\">22-24 April (Monday-Wednesday): Oman Petroleum and Energy Show, Mustac, Oman.<\/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;\">23-25 April (Tuesday-Thursday): Connecting Green Hydrogen MENA, 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:400;\">24-26 April (Wednesday-Friday): Global Education & Training Exhibition (GETEX), 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:400;\">28-29 April (Sunday-Monday) Global Cooperation, Growth and Energy for Development, 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:400;\">28 April-2 May (Sunday-Thursday) Oman Sustainability Week, Oman International Exhibition Center, Muscat.<\/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;\">30 April-2 May (Tuesday-Thursday): Autonomous E-Mobility Forum, 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 style=\"font-weight:400;\">6-9 May (Monday-Thursday): Arabian Travel Market, 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:400;\">7-9 May (Tuesday-Thursday): Global Waste Forum, Algiers, Algeria. <\/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;\">14-15 May (Tuesday-Wednesday): Invest in African Energy (IAE) Forum, Paris, France. <\/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;\">14-16 May (Tuesday-Thursday): Airport Show, 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:400;\">18-25 May (Saturday-Saturday) The World Water Forum, Bali, Indonesia. <\/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;\">19-21 May (Sunday-Tuesday): Saudi Energy Convention, 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:400;\">20-22 May (Monday-Wednesday): Electric Vehicle Innovation Summit, Abu Dhabi, 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:400;\">28-30 May (Tuesday-Thursday): Make it in the Emirates Forum, Abu Dhabi, 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;\">JUNE 2024<\/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;\">5 June (Wednesday): World Environment Day, 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:400;\">11-12 June (Tuesday-Wednesday): International Conference on Financing Investment and Trade in Africa (FITA 2024), Tunis, Tunisia. <\/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;\">OCTOBER 2024<\/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;\">15-17 October (Tuesday-Thursday): EV Auto Show, 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\">NOVEMBER 2024<\/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;\">4-8 November (Monday-Friday): World Urban Forum, Cairo, Egypt.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>11-14 November (Monday-Thursday) Abu Dhabi International Petroleum Exhibition & Conference (ADIPEC), Abu Dhabi, 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;\">DECEMBER 2024<\/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;\">2-13 December (Monday-Friday): Conference of the Parties (COP16) to the United Nation Convention to Combat Desertification, 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\">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 style=\"font-weight:400;\">Early 2024: The 2023 US Algeria Energy Forum, Washington DC, USA.<\/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;\">12-14 February (Monday-Wednesday): Sustainable Aviation Futures MENA Congress, 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:400;\">End-2024: Emirati Masdar\u2019s 500 MW wind farm in Uzbekistan to begin commercial operations. <\/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;\">QatarEnergy\u2019s industrial cities solar power project will start electricity 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=\"font-weight:400;\">International Union for Conservation of Nature World Conservation Congress, Abu Dhabi, 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:400;\">UAE to have over 1k 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 style=\"font-weight:400;\">26-29 October (Monday-Thursday):  World Energy Congress, 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:400;\">UITP Global Public Transport Summit, 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:400;\">Annual Meetings of the World Bank and the International Monetary Fund, Bangkok, Thailand.<\/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;\">1Q 2026: QatarEnergy\u2019s USD 1 bn blue ammonia plant to be completed.<\/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;\">End-2026: HSBC Bahrain to eliminate single-use 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 style=\"font-weight:400;\">MENA\u2019s district cooling market is expected to reach 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:400;\">World Water Forum, 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;\">2030 <\/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;\">UAE\u2019s Abu Dhabi Commercial Bank (ADCB) wants to provide AED 35 bn in green financing. <\/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;\">UAE targets 14 GW 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 style=\"font-weight:400;\">Tunisia targets 30% 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 style=\"font-weight:400;\">Qatar wants to generate USD 17 bn 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 style=\"font-weight:400;\">Morocco\u2019s Xlinks solar and wind energy project to generate 10.5 GW 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 style=\"font-weight:400;\">Qatar to capture up to 11 mn tons 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=\"font-weight:400;\">Tunisia\u2019s carbon neutrality target.<\/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 achieve its net-zero emissions target.        <\/span><\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n","protected":false},"excerpt":{"rendered":"<p>PIF snaps up an additional USD 1 bn worth of Lucid\u2019s stock | Algeria breaks ground on a 200 MW solar project | OPEC\u2019s not playing the phaseout game<\/p>\n","protected":false},"featured_media":83260,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-83259","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"4d75ff19-8f8c-4e57-a22a-264421b5e0bc","teaser":"PIF snaps up an additional USD 1 bn worth of Lucid\u2019s stock | Algeria breaks ground on a 200 MW solar project | OPEC\u2019s not playing the phaseout game","photo_url":"https:\/\/ent.news\/2024\/3\/2330.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>Saudi\u2019s PIF doubles down on Lucid with USD 1 bn investment - 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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