{"id":84072,"date":"2024-05-09T00:00:00","date_gmt":"2024-05-09T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/climate\/?post_type=issue&#038;p=84072"},"modified":"2025-12-15T10:47:06","modified_gmt":"2025-12-15T10:47:06","slug":"aldar-pulls-the-trigger-on-green-sukuk-issuance","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/climate\/issues\/aldar-pulls-the-trigger-on-green-sukuk-issuance\/","title":{"rendered":"Aldar pulls the trigger on green sukuk issuance"},"content":{"rendered":"<section id=\"84074\" 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=\"84074\">\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\/05\/09\/today-aldars-green-sukuk-issuance-opens-to-high-demand-a-new-ev-battery-parts-plant-for-morocco\/\">\r\n                            TODAY: Aldar\u2019s green sukuk issuance opens to high demand + A new EV battery parts plant for Morocco                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/climate\/2024\/05\/09\/today-aldars-green-sukuk-issuance-opens-to-high-demand-a-new-ev-battery-parts-plant-for-morocco\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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We have an update on Aldar\u2019s green sukuk issuance and a fresh addition to Morocco\u2019s burgeoning EV component manufacturing portfolio. We also do a deep dive into a new report which shows how the goal set by to triple renewable capacity by 2030 is faring.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt1\"><\/a> <strong>THE BIG CLIMATE STORY OUTSIDE THE REGION-<\/strong><strong>No end in sight for record-breaking temperatures: <\/strong>The past 11 months have broken temperature records and last month was no different, marking the hottest April on record, according to the <a target=\"_blank\" href=\"https:\/\/climate.copernicus.eu\/\" style=\"\" rel=\"noopener\">Copernicus Climate Change Service\u2019s<\/a>&nbsp;<a target=\"_blank\" href=\"https:\/\/climate.copernicus.eu\/copernicus-global-temperature-record-streak-continues-april-2024-was-hottest-record\" style=\"\" rel=\"noopener\">monthly report<\/a>. The average global temperature in the last 12 months has been the highest on record at 1.61\u00b0C above pre-industrial levels, the data revealed. Temperatures were most above average over northwest Middle East, most of Africa, northern and northeastern North America, Greenland, eastern Asia, and parts of South America, the report added.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Environmental scientists\u2019 concerns grow:<\/strong> The results are leading analysts to believe that the world might be irreversibly closer to the 1.5\u00b0C warming cap set by the Paris Agreement Goals which may now need to be adjusted to 2\u00b0C, Newcastle University climate scientist Hayley Fowler said. The records have led scientists to consider whether the effects of climate change have officially reached a <a target=\"_blank\" href=\"https:\/\/www.esa.int\/Applications\/Observing_the_Earth\/Space_for_our_climate\/Understanding_climate_tipping_points\" style=\"\" rel=\"noopener\">tipping point<\/a> \u2014 a critical threshold in a system that, when exceeded, can lead to a significant and irreversible change in the state of the system.<\/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:&nbsp;<\/strong><a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/environment\/worlds-record-breaking-temperature-streak-extends-through-april-2024-05-08\/\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-05-08\/world-extends-run-of-heat-records-for-an-11th-month-in-a-row\" style=\"\" rel=\"noopener\">Bloomberg<\/a> | <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/cf8f2870-6024-4c35-ae55-d0f9b465fdcd\" style=\"\" rel=\"noopener\">The Financial Times<\/a> | <a target=\"_blank\" href=\"https:\/\/edition.cnn.com\/2024\/05\/07\/climate\/record-hot-april\/index.html\" style=\"\" rel=\"noopener\">CNN<\/a> | <a target=\"_blank\" href=\"https:\/\/www.france24.com\/en\/europe\/20240508-global-temperatures-continue-record-heat-april\" style=\"\" rel=\"noopener\">France 24<\/a> |<\/p>\n<p class=\"tag-border-left\">PSA-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Mercedes-Benz is recalling over 2.5k SUVs in the UAE due to a transmission <\/strong><strong>issue<\/strong>, specifically in GLS\/GLE models from 2019 to 2023 with the M256 engine and automatic transmission NAG3, <a target=\"_blank\" href=\"https:\/\/www.khaleejtimes.com\/business\/auto\/uae-mercedes-benz-to-recall-over-2500-suvs-over-transmission-issue\" style=\"\" rel=\"noopener\">Khaleej Times<\/a> reports. Local importers across the country are coordinating the recall, reaching out to affected vehicle owners for necessary checks and repairs.<\/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\"><a id=\"wwtt2\"><\/a> <strong>#1- The&nbsp;<\/strong><strong>US <\/strong><strong>accuses China of selling tainted biodiesel feedstock: <\/strong>The US biofuel industry is raising alarms over a surge in imports of used cooking oil (UCO) \u2014 an ingredient to make renewable diesel \u2014 from China which is suspected to be made up of mostly non-used palm oil, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-05-07\/suspicious-frying-oil-from-china-is-hurting-us-biofuels-business?srnd=markets-vp\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reports. The palm oil industry has long been criticized for its major deforestation activities and labor abuse. Industry groups and biofuel executives are calling for the government to increase scrutiny of UCO imports to the US \u2014 half of which originate from China \u2014 which have more than tripled in 2023 compared to the previous year.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The influx of the tainted biofuel feedstock is displacing domestic production<\/strong> of other feedstocks like fresh soybean oil, affecting profits and expansion plans of US agriculture companies, Bloomberg adds. UCO imports are taking advantage of Biden's renewables incentives with a better carbon intensity score and lower price which affects local producers.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The<\/strong><strong> EPA is in talks with industry stakeholders to address the issue<\/strong>, which could impact the integrity of the <a target=\"_blank\" href=\"https:\/\/www.epa.gov\/renewable-fuel-standard-program\" style=\"\" rel=\"noopener\">Renewable Fuel Standard Program<\/a>, according to Bloomberg. The program mandates biofuel blending into the US fuel supply and requires producers to keep records ensuring the legal definition of \u201crenewable biomass\u201d is met. Industry groups like Clean Fuels Alliance America and NOPA are also actively investigating the surge in UCO imports and engaging with federal agencies to protect domestic interests and ensure fair trade practices.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Siemens Energy\u2019s wind division is finally looking up: <\/strong>Germany\u2019s Siemens Energy raised its full-year outlook and achieved a fourfold increase in quarterly operating profit, hinting at a recovery of its struggling Gamesa wind division, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/energy\/siemens-energy-raises-outlook-flags-ceo-change-troubled-wind-unit-2024-05-08\/\" style=\"\" rel=\"noopener\">Reuters<\/a> reports. Siemens Energy raised its sales, operating profit, and free cash flow outlook for 2024, dispelling concerns of divestment. The firm struggled with <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/fd05fafd-b729-4304-9a59-390f304bbcde\/today:-more-details-on-egypt'\" style=\"\" rel=\"noopener\">major quality issues<\/a> with its onshore wind turbine platforms last year which caused it to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/50cfad93-b263-4bd6-bec1-3c2066505c17\/siemens-takes-less-of-a-hit-than-expected-on-faulty-wind-turbines-and-the-world-bank-funds-nigeria%25e2%2580%2599s-solar-expansion\" style=\"\" rel=\"noopener\">lose EUR 4.6 bn in annual net losses<\/a>, on top of the already <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/eb6df953-b10c-4784-9feb-0fc59cd8c91e\" style=\"\" rel=\"noopener\">existing hurdles<\/a> in the sector such as rising costs of wind turbine materials, higher borrowing costs, and a supply chain crisis which severely impacted the bottomline of wind energy giants 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\"><strong>The firm is making structural changes to keep the momentum:<\/strong> Siemens Energy has made job cuts and appointed a new CEO in an effort to address its losses as the company emerges from a major crisis, the news outlet added. The announcement led to an 11.5% rise in shares. The company\u2019s new CEO Vinod Philip will take over Siemens Gamesa from Jochen Eickholt. The firm is also planning to reintroduce revised versions of its turbines in Europe by September, with new models to be released next year, Reuters writes. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- The global EV market remains a mess: <\/strong>Sales of EVs are up sharply at BMW \u2014 and the Bavarian carmaker saw its margins collapse in 1Q as a result, reports Germany\u2019s <a target=\"_blank\" href=\"https:\/\/www.handelsblatt.com\/unternehmen\/industrie\/bmw-bmw-verkauft-deutlich-mehr-elektroautos-gewinn-bricht-ein-01\/100037035.html\" style=\"\" rel=\"noopener\">Handelsblatt<\/a>. The culprit? Competition is rising in a softening market in which many players have tons of excess product, forcing it to cut selling prices. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A lot of that oversupply is coming from China<\/strong>, where companies are now pushing EVs on other markets \u2014 including here in the Middle East. That has even friendly trade partners on edge and saw the European Union this week threaten to impose sanctions on Chinese EVs unless Beijing takes action in the short term, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-05-08\/china-s-factory-glut-alarms-the-world-but-there-s-no-quick-fix?srnd=homepage-middle-east&amp;sref=mmeFTDW1\" style=\"\" rel=\"noopener\">Bloomberg<\/a> notes. EC boss Ursula von der Leyen said China is \u201cflooding our market with massively subsidized electric cars,\u201d <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/autos-transportation\/eus-von-der-leyen-china-must-be-stopped-flooding-ev-market-2024-05-08\/\" style=\"\" rel=\"noopener\">Reuters<\/a> adds.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Chinese companies could look to start producing EVs in other countries <\/strong>in a bid to ease tensions \u2014 much as Japanese automakers did to smooth-out economic relations with the US back in the 1980s. Two cases in point: EV leader Byd as well as Neta Auto plan to start producing EVs in the lucrative Indonesian market, with Byd saying it will invest USD 1 bn in its plant, the <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/ea5985a7-ecc0-41fe-bf7e-6493b1bdec33\" style=\"\" rel=\"noopener\">Financial Times<\/a> reports.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#4- Morocco launches incubator for green tech startups: <\/strong>Renewables accelerator <a target=\"_blank\" href=\"https:\/\/www.clusterenr.ma\/\" style=\"\" rel=\"noopener\">Cluster ENR<\/a> is now accepting proposals for this year\u2019s <a target=\"_blank\" href=\"https:\/\/www.clusterenr.ma\/incubateur\" style=\"\" rel=\"noopener\">Green Business Incubator (GBI)<\/a> for renewable energy, clean technology, and green technology startups, according to a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/ClusterENR\/posts\/pfbid0tC7y7jfetwg7utoo6JbPdos7k2vCS2NMKBrUL72KpEmuZvbF7nnp9tmGMtWtVowTl\" style=\"\" rel=\"noopener\">statement<\/a>. 20 companies will be selected to receive 12 months of guidance and support on how to secure financing, reach more clients, and build the firm's business network. Of those selected, 12 startups that have obtained patents will receive up to AED 400k \u2014 to cover up to 80% of the costs needed to launch the startup project \u2014 which will be provided by the <a target=\"_blank\" href=\"https:\/\/www.ccg.ma\/fr\/system\/files_force\/communiques_de_press\/avis-en2.pdf?download=1\" style=\"\" rel=\"noopener\">Innov Invest Fund<\/a> launched by Moroccan state-owned financial institution for SMEs <a target=\"_blank\" href=\"https:\/\/www.tamwilcom.ma\/\" style=\"\" rel=\"noopener\">Tamwilcom<\/a>. All participating companies must be based in Morocco and be no more than five years old. The deadline for accepting proposals is 3 June.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#5- Clean energy ETFs gain momentum: <\/strong><a target=\"_blank\" href=\"https:\/\/www.investopedia.com\/terms\/e\/etf.asp\" style=\"\" rel=\"noopener\">Exchange-traded funds<\/a> (ETFs) \u2014 funds that track a specific index and can be traded on exchanges \u2014 linked to clean energy projects are showing signs of recovery, outperforming their oil and gas counterparts for the first time since 2021, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/energy\/clean-energy-etfs-start-outperform-key-oil-gas-etf-maguire-2024-05-07\/\" style=\"\" rel=\"noopener\">Reuters<\/a> reports. Most major ETFs tied to renewable energy generation have lost between 20-70% of their value since 2022 on the back of increasing interest rates, supply chain disruptions, and a slowdown in clean energy installations which cut consumer demand and hit the earnings and stock prices of companies operating in the sector, the newswire explains. ETFs linked to renewable energy generation, smart grid management, and uranium extraction were the main drivers behind the improved performance.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s driving the recovery? <\/strong>Growing policy support for nuclear generation sparked investor interest in the sector, leading to investment vehicles tied to uranium (the heavy metal needed to generate nuclear energy) extraction becoming more attractive, with an uptick in demand observed starting from the second half of 2023, the news outlet writes. ETFs tied to electric grid upgrades and smart power management systems made gains last year as a result of growing awareness about the challenges of incorporating renewable energy into existing grid systems, pushing more investments in major utility-scale investments.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Where is the trend going?<\/strong> A potential peace deal in Gaza could decrease oil and gas prices while falling interest rates are expected to make renewable energy more affordable, Reuters writes, adding that this could accelerate the divergence in ETF returns in favor of clean energy investments over fossil fuels. While some clean energy ETFs remain negative year-to-date, a sustained trend could lead to positive returns across the board.<\/p>\n<p class=\"tag-border-left\">DANGER ZONE- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt3\"><\/a> <strong>Climate-warming&nbsp;<\/strong><strong>refrigerant gasses used for industry and retail cooling are <\/strong><strong>being imported illegally from China and Turkey into the EU, <\/strong>an <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/5\/550.pdf\" style=\"\" rel=\"noopener\">investigation report (pdf)<\/a> by the London-based Environmental Investigation Agency (EIA) found. The gasses \u2014 called <a target=\"_blank\" href=\"https:\/\/www.epa.gov\/snap\/reducing-hydrofluorocarbon-hfc-use-and-emissions-federal-sector-through-snap\" style=\"\" rel=\"noopener\">hydrofluorocarbons<\/a> (HFCs) \u2014 are 1k times more damaging than CO2, threatening efforts to reduce emissions in the continent. Similar to its 2021 report, the new publication finds that around 20-30% of legally traded volumes of the chemicals were illicitly traded. The HFCs are being smuggled via shipments entering from Turkey, Russia, and Ukraine which law enforcement has been unable to detect.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Demand is driving the problem: <\/strong>Europe is among those committed to the Montreal Protocol under which the Kigali amendment mandates an 85% cut in HFC use by 2036. However, with demand still high, HFCs are becoming pricier and much more valuable for smugglers to trade in, effectively undermining the Protocol\u2019s efforts to make alternatives more appealing and cost effective. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Steps are being taken: <\/strong>The EU has revised its <a target=\"_blank\" href=\"https:\/\/climate.ec.europa.eu\/eu-action\/fluorinated-greenhouse-gases\/eu-rules_en\" style=\"\" rel=\"noopener\">F-gas Regulation<\/a> which provides additional tools for law enforcement to crack down on the trade. The revision will need to be quick and effective to stop the smuggling before demand for illegal HFCs rises as the supply in EU markets is further reduced, EIA Senior Climate Campaigner Fin Walravens told <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/environment\/climate-warming-gases-being-smuggled-into-europe-investigation-says-2024-04-08\/\" style=\"\" rel=\"noopener\">Reuters<\/a>.<\/p>\n<p class=\"tag-border-left\">OUR NEXT CONFERENCE IN CAIRO-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Foreign investors are falling in love with Egypt again\u2026<\/strong> Foreign investors we speak with (debt, equity, and strategic alike) have growing appetite for Egypt. They\u2019re buying into local debt, eyeing promising shares, and committing bns of USD to both new ventures here and the growth of their existing businesses. They like the Egypt story that\u2019s taking shape after the float of the EGP, and its competitive advantages are clear to many of them: <strong>It\u2019s a massive consumer opportunity and a regional export hub of tomorrow.<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.0;orphans:2;widows:2;text-align:left\"><strong>The Enterprise Optimism Forum 2024 will do exactly what it says on the tin: <\/strong>Spark conversations about a future that sees Saudi Arabia, Egypt, and the the UAE at the heart of a more vital Middle East economy \u2014 and provide an early, actionable roadmap for those who are \u201clong Egypt.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.0;orphans:2;widows:2;text-align:left\"><strong>We\u2019ll be talking with you about the agenda over the coming couple of weeks.&nbsp;<\/strong>It features speakers from Egypt and abroad who are future-proofing their businesses and angling to capture tomorrow\u2019s opportunities \u2014 and who aren\u2019t afraid to answer some tough questions. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.0;orphans:2;widows:2;text-align:left\"><strong><a target=\"_blank\" href=\"https:\/\/optimism.enterprise.news\/\" style=\"\" rel=\"noopener\">*** Interested in attending? Tap or click here to let us know.<\/a><\/strong>&nbsp;Seating is limited. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a href=\"https:\/\/optimism.enterprise.news\/\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/ads\/imgs\/221.jpg?ssl=1\"><\/a> <\/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\">***<br \/><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 in Cairo and Riyadh and 11am in the 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\"><strong>Get your own <\/strong><strong><a target=\"_blank\" href=\"https:\/\/climate.enterprise.news\/user\/subscribe-details\" 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>Saudi Arabia will host the <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.saudienergyconvention.com\/\" style=\"\" rel=\"noopener\">Saudi Energy Convention<\/a><\/strong><strong> from Sunday, 19 May to <\/strong><strong>Tuesday, 21 May in<\/strong> Riyadh. The convention will see energy and utilities industry leaders advance collaborative decarbonization efforts and identify innovation areas. It will also host the Saudi Utilities Convention and Saudi Hydrogen Convention to address the role and challenges of rolling out hydrogen, water and utility projects that are in line with the global energy transition. Over 10k energy professionals and 200 industry speakers will be present at the event. <\/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 <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.evinnovationsummit.com\/\" style=\"\" rel=\"noopener\">The Electric Vehicle Innovation Summit<\/a><\/strong><strong> 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>Check out our full calendar on the web<\/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\/biofuels\/\">biofuels<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/morocco\/\">Morocco<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/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=\"84076\" 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=\"84077\" 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=\"84077\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">2<\/div>\r\n\r\n                    <p class=\"f-graphik\">DEBT WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/climate\/2024\/05\/09\/aldar-properties-launches-usd-500-mn-green-sukuk\/\">\r\n                            Aldar Properties launches USD 500 mn green sukuk                        <\/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\/05\/09\/aldar-properties-launches-usd-500-mn-green-sukuk\/\" 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\/05\/09\/aldar-properties-launches-usd-500-mn-green-sukuk\/')\">\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\/05\/09\/aldar-properties-launches-usd-500-mn-green-sukuk\/\">\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=Aldar Properties launches USD 500 mn green sukuk&url=https:\/\/enterpriseam.com\/climate\/2024\/05\/09\/aldar-properties-launches-usd-500-mn-green-sukuk\/\">\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\/05\/09\/aldar-properties-launches-usd-500-mn-green-sukuk\/&title=Aldar Properties launches USD 500 mn green sukuk\">\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=Aldar+Properties+launches+USD+500+mn+green+sukuk+https%3A%2F%2Fenterpriseam.com%2Fclimate%2F2024%2F05%2F09%2Faldar-properties-launches-usd-500-mn-green-sukuk%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\/05\/09\/aldar-properties-launches-usd-500-mn-green-sukuk\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/752.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"84078\" data-permalink=\"https:\/\/enterpriseam.com\/climate\/2024\/05\/09\/aldar-properties-launches-usd-500-mn-green-sukuk\/752-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/752.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"752.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/752.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/752.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-84077\" class=\"content-area-description single-story post-84077 post type-post status-publish format-standard has-post-thumbnail hentry category-debt-watch tag-debt-watch tag-enterpriseclimate tag-green-bonds 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\/2024\/5\/.33761b30-59da-4632-bb43-70ffc22dd895.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Aldar Properties has started selling USD 500 mn in 10-year green sukuk <\/strong>at 110 basis points over US treasuries, narrowed down from guidance of 140 bps on strong investor demand, <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/islamic-economy\/islamic-finance\/aldar-properties-starts-selling-10-year-green-sukuk-document-says-wby47opp\" style=\"\" rel=\"noopener\">Reuters<\/a> reports, citing a document it has seen. The issuance attracted USD 1.9 bn in orders, and comes under its USD 2 bn trust certificates programme. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The proceeds will go towards financing, refinancing and investing in green projects<\/strong>, the newswire said, without disclosing specifics. This is Aldar Properties\u2019 second USD 500 mn green sukuk issuance, following <a target=\"_blank\" href=\"https:\/\/www.aldar.com\/en\/news-and-media\/aldar-investment-properties-issues-usd-500-million-10-year-inaugural-green-sukuk\" style=\"\" rel=\"noopener\">last year's debut<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- <\/strong>The Abu-Dhabi based developer had also reportedly issued a tender purchase offer for its outstanding trust certificates worth USD 500 mn, which are set to mature in September 2025, the newswire writes.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Advisors: <\/strong>Our friends at HSBC, alongside Standard Chartered Bank, are global coordinators for the issuance. Our friends at Mashreq and First Abu Dhabi Bank, alongside Abu Dhabi Commercial Bank, Abu Dhabi Islamic Bank, Dubai Islamic Bank, Emirates NBD Capital, and Morgan Stanely were selected as the joint lead managers and bookrunners for the issuance.<\/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\/debt-watch\/\">DEBT WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/green-bonds\/\">green bonds<\/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=\"84079\" 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=\"84079\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">3<\/div>\r\n\r\n                    <p class=\"f-graphik\">M&amp;A WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/climate\/2024\/05\/09\/mubadala-backed-cepsa-sells-upstream-assets-in-peru-in-green-energy-shift\/\">\r\n                            Mubadala-backed Cepsa sells upstream assets in Peru in green energy shift                        <\/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\/05\/09\/mubadala-backed-cepsa-sells-upstream-assets-in-peru-in-green-energy-shift\/\" 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\/05\/09\/mubadala-backed-cepsa-sells-upstream-assets-in-peru-in-green-energy-shift\/')\">\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\/05\/09\/mubadala-backed-cepsa-sells-upstream-assets-in-peru-in-green-energy-shift\/\">\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=Mubadala-backed Cepsa sells upstream assets in Peru in green energy shift&url=https:\/\/enterpriseam.com\/climate\/2024\/05\/09\/mubadala-backed-cepsa-sells-upstream-assets-in-peru-in-green-energy-shift\/\">\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\/05\/09\/mubadala-backed-cepsa-sells-upstream-assets-in-peru-in-green-energy-shift\/&title=Mubadala-backed Cepsa sells upstream assets in Peru in green energy shift\">\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=Mubadala-backed+Cepsa+sells+upstream+assets+in+Peru+in+green+energy+shift+https%3A%2F%2Fenterpriseam.com%2Fclimate%2F2024%2F05%2F09%2Fmubadala-backed-cepsa-sells-upstream-assets-in-peru-in-green-energy-shift%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\/05\/09\/mubadala-backed-cepsa-sells-upstream-assets-in-peru-in-green-energy-shift\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/543.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"84080\" data-permalink=\"https:\/\/enterpriseam.com\/climate\/2024\/05\/09\/mubadala-backed-cepsa-sells-upstream-assets-in-peru-in-green-energy-shift\/543-jpg-2\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/543.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"543.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/543.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/543.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-84079\" class=\"content-area-description single-story post-84079 post type-post status-publish format-standard has-post-thumbnail hentry category-ma-watch-2 tag-enterpriseclimate tag-ma-watch 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\/2024\/5\/.255f0de1-1797-411c-847d-8ea7d44c0ee4.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Mubadala-owned Spanish oil refiner <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.cepsa.com\/en\/\" style=\"\" rel=\"noopener\">Cepsa<\/a><\/strong><strong> has divested its upstream operations in Peru to <\/strong><strong>Canada\u2019s <\/strong><strong><a target=\"_blank\" href=\"https:\/\/petrotalcorp.com\/\" style=\"\" rel=\"noopener\">PetroTal Corp<\/a><\/strong><strong> to shift investments towards green energy<\/strong>, according to a <a target=\"_blank\" href=\"https:\/\/www.cepsa.com\/en\/press\/cepsa-petrotal-sustainability-sale-peru\" style=\"\" rel=\"noopener\">press release<\/a>. The transaction also includes the transfer of one of Cepsa\u2019s subsidiaries that manages a Los Angeles oil field to the Canadian oil company. The value of the transaction was not disclosed.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The transaction is part of Cepsa\u2019s 2030 green strategy<\/strong>, which will see the company shift towards sustainable energy by investing around EUR 8 bn in green hydrogen and biofuel for heavy transportation and industries such as trucking, shipping, and airlines, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-03-30\/abu-dhabi-s-spanish-refiner-aims-to-be-global-hydrogen-behemoth\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reported in March.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>More on Cepsa:<\/strong> Abu Dhabi wealth fund Mubadala <a target=\"_blank\" href=\"https:\/\/www.mubadala.com\/en\/news\/carlyle-group-completes-acquisition-shareholding-cepsa-mubadala\" style=\"\" rel=\"noopener\">holds a majority stake<\/a> in Cepsa, the second largest oil company in Spain, while the global investment firm The Carlyle Group owns 37%. <\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/ma-watch\/\">M&amp;A WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/uae\/\">UAE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"84081 advertiser\" class=\"issue-section enterprise-adv\">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                            \"\r\n            id=\"84081\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/climate\/2024\/05\/09\/84081\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-84081\" class=\"content-area-description single-story post-84081 post type-post status-publish format-standard hentry category-advertiser wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><span style=\"font-weight:400;\"><a href=\"https:\/\/weareiph.com\/\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/enterprise.press\/wp-content\/uploads\/2023\/05\/infinity-enterprise1600px-scaled.jpg\"><\/a><\/span><\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"84082\" 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=\"84082\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">4<\/div>\r\n\r\n                    <p class=\"f-graphik\">ELECTRIC VEHICLES<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/climate\/2024\/05\/09\/hailiang-set-to-build-usd-288-mn-ev-battery-parts-plant-in-morocco\/\">\r\n                            Hailiang set to build USD 288 mn EV battery parts plant in Morocco                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/climate\/2024\/05\/09\/hailiang-set-to-build-usd-288-mn-ev-battery-parts-plant-in-morocco\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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href=\"https:\/\/api.whatsapp.com\/send?text=Hailiang+set+to+build+USD+288+mn+EV+battery+parts+plant+in+Morocco+https%3A%2F%2Fenterpriseam.com%2Fclimate%2F2024%2F05%2F09%2Fhailiang-set-to-build-usd-288-mn-ev-battery-parts-plant-in-morocco%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/climate\/2024\/05\/09\/hailiang-set-to-build-usd-288-mn-ev-battery-parts-plant-in-morocco\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/716.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"84083\" data-permalink=\"https:\/\/enterpriseam.com\/climate\/2024\/05\/09\/hailiang-set-to-build-usd-288-mn-ev-battery-parts-plant-in-morocco\/716-jpg-4\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/716.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"716.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/716.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/716.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-84082\" class=\"content-area-description single-story post-84082 post type-post status-publish format-standard has-post-thumbnail hentry category-electric-vehicles tag-electric-vehicles tag-enterpriseclimate tag-evs tag-morocco 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\/5\/.ae224f0d-c16c-4673-9c55-e3f8f7066c44.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Hailiang to build battery parts plant in Morocco:<\/strong> Chinese copper tubes and rods manufacturer <a target=\"_blank\" href=\"https:\/\/www.hailiangstock.com\/en\/\" style=\"\" rel=\"noopener\">Zhejiang Hailiang<\/a> is planning to construct a USD 288 mn plant for the production of lithium-battery copper foil in Morocco, according to <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/5\/576.pdf\" style=\"\" rel=\"noopener\">a company filing<\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/5\/576.pdf\" style=\"\" rel=\"noopener\">(pdf)<\/a> to the Shenzhen Stock Exchange. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What we know: <\/strong>The plant will be constructed in 36 months and will have the capacity to produce 50k tons of alloy, 35k tons of pipe, 40k tons of rod, and 25 tons of foil annually for export to Europe, America, MENA, and Africa.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The significance of copper foil: <\/strong><a target=\"_blank\" href=\"https:\/\/www.aotbattery.com\/new\/Why-do-lithium-batteries-use-copper-foil-for-anode-and-aluminum-foil-for-cathode.html\" style=\"\" rel=\"noopener\">Copper foil<\/a> is a key material in lithium-ion batteries which acts as the current collector for the anode. The thin and conductive foil conducts electricity and helps release heat generated by the battery during operation.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Why Morocco? <\/strong>Morocco's free trade agreements with the <a target=\"_blank\" href=\"https:\/\/www.cbp.gov\/trade\/free-trade-agreements\/morocco\" style=\"\" rel=\"noopener\">US<\/a>, <a target=\"_blank\" href=\"https:\/\/policy.trade.ec.europa.eu\/eu-trade-relationships-country-and-region\/countries-and-regions\/morocco_en\" style=\"\" rel=\"noopener\">EU<\/a> and Turkey will allow easy access to those markets, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-05-08\/china-s-hailiang-plans-morocco-copper-plant-to-tap-western-users\" style=\"\" rel=\"noopener\">Bloomberg<\/a> explains. Hailiang also wants to capitalize on Africa's abundant copper resources to keep production costs low. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Part of a wider shift in overseas production: <\/strong>Hailiang has been increasingly turning to overseas markets as it faces shrinking profit margins at home due to tighter restrictions on Chinese products in the West, Bloomberg adds. By moving its production to other countries, the company is able to evade the US sanctions on US goods, <a target=\"_blank\" href=\"https:\/\/www.moroccoworldnews.com\/2024\/05\/362518\/chinese-copper-producer-hailiang-to-open-new-plant-in-morocco\" style=\"\" rel=\"noopener\">Morocco World News<\/a> said. Last year, the company revealed it is establishing a 50k ton lithium-battery copper foil plant in Indonesia, add in to its already existing production bases in the US, Germany, France, Italy, Spain, Vietnam and Thailand.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Morocco is establishing itself as a EV component hub: <\/strong>The kingdom inked a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/4160d427-aa37-440a-aecb-c4dd776a9eba\/\" style=\"\" rel=\"noopener\">USD 297 mn<\/a> investment agreement with Chinese EV battery components maker BTR New Material for the construction of a cathode factory for electric vehicle batteries last month. Earlier in January, the kingdom said it had secured USD 700 mn in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/46483f92-1b91-4435-ab3d-4a807706c895\/egypt%25e2%2580%2599s-gv-investments-%2B-russia%25e2%2580%2599s-concordia-partner-to-establish-an-ev-components-factory-in-egypt\" style=\"\" rel=\"noopener\">EV battery cathode investments<\/a> from Chinese companies including the Tanier cathode facility. Chinese battery giant CNGR also partnered with Morocco-based pan-African investment fund Al Mada last September to build a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/f7f71bc5-5be7-4259-8272-c44591cef9ff\/\" style=\"\" rel=\"noopener\">USD 2 bn industrial base for battery parts<\/a> production and recycling. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>More in the works:<\/strong> Chinese battery maker Gotion High Tech was in discussions with Morocco on securing a location for its <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/846a54f7-7375-4a0e-9849-f6027818d3f8\/\" style=\"\" rel=\"noopener\">USD 6.4 bn gigafactory<\/a> for the production of EV batteries and energy storage systems last month. Chinese battery minerals producer Zhejiang Huayou Cobalt was also exploring a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/96328bb4-859f-4c0d-844b-e62ebfa90da1\" style=\"\" rel=\"noopener\">USD 20 bn electric vehicle battery plant<\/a> in Morocco in August.<\/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\/electric-vehicles\/\">ELECTRIC VEHICLES<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/evs\/\">EVs<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/morocco\/\">Morocco<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"84084\" 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=\"84084\">\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\">The Macro Picture<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/climate\/2024\/05\/09\/renewables-accounted-for-30-of-global-electricity-in-2023\/\">\r\n                            Renewables accounted for 30% of global electricity in 2023                        <\/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\/05\/09\/renewables-accounted-for-30-of-global-electricity-in-2023\/\" 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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Regional countries included in the analysis include Saudi Arabia, Egypt, Iran, the UAE, Turkey, and Iraq, all of which were listed among the 25 largest absolute emitters of CO2.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The findings: <\/strong>Solar and wind now generate 13.4% of the world\u2019s electricity, growing nearly a full nine percentage points since 2015, the report finds. Together, clean sources generated almost 40% of the world\u2019s electricity and the CO2 intensity of global power generation reached a new record low in 2023 \u2014 12% below its peak in 2007, Ember concludes.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The world is at a turning point:<\/strong> Fossil fuel generation is expected to fall by 2% worldwide this year as a result of a larger predicted renewables generation compared to fossil fuels. Renewable energy has already hindered fossil fuel growth by two-thirds in the last decade, and consequently, half of the world\u2019s economies have passed the peak for fossil fuel electricity generation. Organization for Economic Co-operation and Development countries are ahead of the game as their power sector emissions peaked in 2007, falling 28% since then. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Solar power led the charge:<\/strong> Solar power has overtaken wind as the largest contributor of clean energy for the second year in a row, and has been the fastest growing electricity generation source for 19 consecutive years. Between 2022 to 2023, solar additions shot up by 76%. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>And it\u2019s expected to grow even further in 2024:<\/strong> Lower costs, government support, advanced technology, and increased manufacturing capabilities have allowed for significant growth in the solar industry. Global solar generation rose only 23% last year, but 2024 is expected to further reflect the boom in capacity. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Hydropower plans fell through: <\/strong>Hydropower generation reached a five-year low due to drought conditions. Clean capacity added in 2023 could have reduced fossil generation by 1.1% under normal circumstances, but instead the hydropower shortage led to increased coal generation. Increasing global power sector emissions by 1%. The majority of this increase in coal generation occurred in four drought-affected countries \u2014 China, India, Vietnam, and Mexico.<\/p>\n<p class=\"tag-border-left\">HOW OUR REGION FARED-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Egypt\u2019s emissions remain high despite major potential: <\/strong>Egypt relied on fossil fuels for 88% of its electricity last year, revealing a slower installation rate for renewables, especially for its vast untapped solar potential. Hydropower constituted the largest share of clean electricity at 7%, and wind and solar grew to 5% \u2014 up from just 1% in 2015 \u2014 of electricity, but still lags behind the global average of 13% and the African continent\u2019s average of 6%. Egypt is Africa's largest fossil gas generator, contributing 45% of the continent's gas generation in 2022. Over the past two decades, Egypt's electricity demand and emissions have more than doubled but the country\u2019s per capita emissions still remain below the global average.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Saudi has some ways to go<\/strong><strong>:<\/strong> Nearly all of Saudi Arabia\u2019s electricity generation comes from fossil fuels at 99.8%. Solar made up 0.2% of the power mix, while no other renewable energy sources were used. Saudi Arabia has ambitious targets in place to have renewable energy account for 50% of its electricity generation by 2030. The kingdom\u2019s per capita emissions are quadruple the global average.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Rising power demand triggere<\/strong><strong>d rising emissions in the UAE:<\/strong> Fossil fuels contributed 83% of the UAE\u2019s electricity. Nuclear power constitutes the largest share of its clean electricity at 13%, while wind and solar combined account for 4.5%. Electricity demand has surged over the past two decades, mainly satisfied by fossil gas, with growing contributions from nuclear and solar since 2019. UAE\u2019s per capita emissions are five times higher than the global average.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Turkey continues to rely heavily on coal:<\/strong> Turkey became Europe's second largest coal-fired power generator last year, with over a third of its total power generation coming from coal. The nation has significant renewable energy potential but still relies on fossil fuels to meet 58% of its electricity needs. Turkey produced only 16% of its electricity from wind and solar in 2023, with solar accounting for just 6% of its power generation. The country\u2019s per capita emissions were similar to the global average.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Iraq\u2019s power sector emissions have skyrocketed:<\/strong> Iraq has seen emissions from its power sector nearly quadruple in the last 20 years, and its reliance on fossil fuels stood at 98% in 2023. Iraq generates less than 3% of its electricity from hydropower \u2014 down from 5% in 2020 as a result of increased drought conditions \u2014 and less than 1% from solar and wind. The installation of a new gas plant also caused gas generation to increase 105% y-o-y. Iraq is yet to put out an official renewables target. Iraq\u2019s emissions per capita were slightly above the global average.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Iran is heavily dependent on fossil fuels: <\/strong>Fossil fuels accounted for 94% of Iran\u2019s electricity generation in 2023. Hydro power constituted Iran's largest source of clean electricity at 4%, while wind and solar only contributed 0.6%, significantly lower than global and neighboring averages. Iran's power sector emissions nearly tripled in the past 20 years, mainly due to increased fossil gas usage which makes up 87% of electricity generation. Iran plans to expand renewable capacity, especially solar, to address domestic gas shortages and reduce reliance on fossil fuels. Iran\u2019s per capita emissions surpasses the global average.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Other regional findings: <\/strong>Bahrain, Qatar and Kuwait are the world\u2019s three highest per capita power sector emitters, and are all highly dependent on gas, according to Ember. Bahrain\u2019s per capita gas generation reached 24.3k kWh per capita while Qatar\u2019s stood at 20.2k kWh, representing nearly 100% of their electricity from gas. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Global challenges remain:<\/strong> While government targets and industry forecasts indicate continued acceleration in renewable energy growth, slower growth in nuclear and hydro power and the need for improved energy efficiency and grid infrastructure have hindered progress. Despite these issues, the dominance of wind and solar power points to the end of the fossil fuel era, the report concludes. <\/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\/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\/renewables\/\">renewables<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/the-macro-picture\/\">THE MACRO PICTURE<\/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=\"84086\" 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=\"84086\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">6<\/div>\r\n\r\n                    <p class=\"f-graphik\">ALSO ON OUR RADAR<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/climate\/2024\/05\/09\/ara-will-launch-omans-first-solar-thermal-water-plant\/\">\r\n                            ARA will launch Oman\u2019s first solar thermal water plant                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/climate\/2024\/05\/09\/ara-will-launch-omans-first-solar-thermal-water-plant\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/climate\/2024\/05\/09\/ara-will-launch-omans-first-solar-thermal-water-plant\/')\">\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\/05\/09\/ara-will-launch-omans-first-solar-thermal-water-plant\/\">\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=ARA will launch Oman\u2019s first solar thermal water plant&url=https:\/\/enterpriseam.com\/climate\/2024\/05\/09\/ara-will-launch-omans-first-solar-thermal-water-plant\/\">\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\/05\/09\/ara-will-launch-omans-first-solar-thermal-water-plant\/&title=ARA will launch Oman\u2019s first solar thermal water plant\">\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=ARA+will+launch+Oman%E2%80%99s+first+solar+thermal+water+plant+https%3A%2F%2Fenterpriseam.com%2Fclimate%2F2024%2F05%2F09%2Fara-will-launch-omans-first-solar-thermal-water-plant%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\/05\/09\/ara-will-launch-omans-first-solar-thermal-water-plant\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/562.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"84087\" data-permalink=\"https:\/\/enterpriseam.com\/climate\/2024\/05\/09\/ara-will-launch-omans-first-solar-thermal-water-plant\/562-jpg-3\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/562.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"562.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/562.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/562.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-84086\" class=\"content-area-description single-story post-84086 post type-post status-publish format-standard has-post-thumbnail hentry category-also-on-our-radar tag-also-on-our-radar tag-enterpriseclimate tag-green-hydrogen tag-oman tag-solar-energy 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\/2024\/5\/.309d8699-ca55-4dff-a4e9-2e4274f41bd0.mp3\"><\/audio><\/figure><p class=\"tag-border-left\">DESALINATION- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Oman<\/strong><strong> to launch its first solar thermal water plant: <\/strong>Omani upstream energy firm <a target=\"_blank\" href=\"https:\/\/arapetroleum.com\/\" style=\"\" rel=\"noopener\">ARA<\/a><a target=\"_blank\" href=\"https:\/\/arapetroleum.com\/\" style=\"\" rel=\"noopener\">Petroleum<\/a> is set to launch one of the world's first solar thermal powered desalination plants at its Qarat Al Milh site in Dhofar, <a target=\"_blank\" href=\"https:\/\/www.omanobserver.om\/article\/1153380\/business\/energy\/omans-first-solar-thermal-water-project-set-for-launch\" style=\"\" rel=\"noopener\">Oman Observer<\/a> reports. The project, developed in collaboration with Austrian solar tech startup <a target=\"_blank\" href=\"https:\/\/heliovis.com\/\" style=\"\" rel=\"noopener\">Heliovis<\/a>, whose low-cost solar thermal technology it will utilize, is expected to produce up to 140 cubic meters of drinking water daily from \u201cproduced water\u201d \u2014 a byproduct of hydrocarbon production typically full of hydrocarbons and high levels of dissolved mineral salts.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What they\u2019ll do:<\/strong> Heliovis established a forward osmosis desalination plant with a <a target=\"_blank\" href=\"https:\/\/www.sciencedirect.com\/topics\/engineering\/zero-liquid-discharge\" style=\"\" rel=\"noopener\">direct-osmosis zero liquid discharge<\/a> unit to extract potable water from produced water, Oman Observer adds. Heliovis' cost-effective technology will employ inflatable tubes and mirror films to concentrate sunlight, generating clean industrial process heat in the mid-temperature range of 90\u00b0C to 400\u00b0C.<\/p>\n<p class=\"tag-border-left\">GREEN MOBILITY-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Contigo <\/strong><strong>to deploy hydrogen motorcycles in UAE: <\/strong>E-mobility company <a target=\"_blank\" href=\"https:\/\/contigomobility.com\/\" style=\"\" rel=\"noopener\">Contigo<\/a><a target=\"_blank\" href=\"https:\/\/contigomobility.com\/\" style=\"\" rel=\"noopener\">Mobility<\/a> has signed an MoU with Emirates Transport to roll out hydrogen-powered motorcycles in the UAE, according to a <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/press-release\/companies-news\/contigo-mobility-and-emirates-transport-forge-strategic-partnership-to-introduce-hydrogen-powered-motorcycle-pilot-fleets-in-the-uae-vcrlte0s\" style=\"\" rel=\"noopener\">statement<\/a>. Contigo will deploy its New Energy Vehicle (NEV) two-wheeler fleet supply and hydrogen fuel cell technology to develop the motorcycles, which Emirates Transport will help integrate into pilot fleets across the country.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The hydrogen infrastructure is on the rise: <\/strong>The UAE\u2019s Adnoc inaugurated the region\u2019s first high-speed <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/0061d21d-9fca-4de1-8db0-fe232023f0e2\/\" style=\"\" rel=\"noopener\">green hydrogen pilot refueling station<\/a> \u2014 dubbed H2GO \u2014 to test a fleet of zero-emission hydrogen-powered vehicles last November. Saudi Arabia Railways also signed an MoU with Air Products Qudra last week to build, own, and operate hydrogen fueling stations for trains in the kingdom.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">SOLAR- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>UNPD launches solar PV awareness campaign: <\/strong>The United Nations Development Program has launched the Thinking About Solar campaign, which aims to promote solar power as an alternative to traditional energy sources for businesses, according to a <a target=\"_blank\" href=\"https:\/\/www.undp.org\/egypt\/blog\/embracing-solar-power-businesses-are-you-ready?utm_source=UNDP&utm_campaign=f8f0e96521-EMAIL_CAMPAIGN_2019_12_21_10_16_COPY_01&utm_medium=email&utm_term=0_820062d129-f8f0e96521-\" style=\"\" rel=\"noopener\">statement<\/a>. The campaign highlights the benefits of solar energy \u2014 lower energy bills, less pollutants, long-term savings \u2014 and aims to help businesses navigate the switch. Businesses can access the <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/5\/522.pdf\" style=\"\" rel=\"noopener\">full guide (pdf)<\/a> on selecting a solar system or seek assistance from the campaign through <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/UNDP\/\" style=\"\" rel=\"noopener\">Facebook<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">DECARBONIZATION-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>KSA boosts afforestation efforts:<\/strong> Ten MoUs and investment contracts focused on developing plant cover and related infrastructure across the Kingdom were signed during the inaugural National Greening Forum, <a target=\"_blank\" href=\"https:\/\/www.alriyadh.com\/2073988\" style=\"\" rel=\"noopener\">Al Riyadh<\/a> reported. The signatories of agreements include the Zakat, Tax and Customs Authority (Zatca), National Housing Company, PIF-owned Red Sea Global, Riyad Bank, Estidamah and others. No further details were provided.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>OTHER STORIES WORTH KNOWING THIS MORNING-<\/strong><\/p>\n<ul>\n<li><strong>Dubai + South Korea ink transport agreement: <\/strong>The Dubai Roads and Transport Authority and the Seoul Metropolitan Government have signed an MoU to collaborate on urban air mobility and autonomous vehicles, eco-friendly transport solutions, electric and hydrogen bus fleets, and charging station infrastructure. (<a target=\"_blank\" href=\"https:\/\/www.khaleejtimes.com\/uae\/dubai-collaborates-with-south-korea-on-flying-cars-driverless-vehicles\" style=\"\" rel=\"noopener\">Khaleej Times<\/a>)<\/li>\n<\/ul>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/also-on-our-radar\/\">ALSO ON OUR RADAR<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/green-hydrogen\/\">green hydrogen<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/oman\/\">Oman<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/solar-energy\/\">solar energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/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=\"84088\" 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=\"84088\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">7<\/div>\r\n\r\n                    <p class=\"f-graphik\">AROUND THE WORLD<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/climate\/2024\/05\/09\/south-korea-funds-local-ev-industry-to-remain-competitive-in-the-us\/\">\r\n                            South Korea funds local EV industry to remain competitive in the US                        <\/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\/05\/09\/south-korea-funds-local-ev-industry-to-remain-competitive-in-the-us\/\" 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 Korean government is also trying to secure materials used in batteries \u2014 mainly graphite \u2014 from outside of China to align with the new US rules and to maintain competitiveness in the US, according to the Ministry of Trade, Industry, and Energy.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What are these rules? <\/strong>To reduce dependence on Chinese battery materials, the US will deem any plug-in cars made of minerals extracted from China ineligible for tax credits of up to USD 7.5k, the US Treasury said, according to <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-05-03\/biden-gives-carmakers-a-break-on-tough-to-trace-ev-materials\" style=\"\" rel=\"noopener\">Bloomberg<\/a>. As consumers hesitate to purchase EVs due to high prices, these tax credits are valuable for producers. The sourcing requirements will go into effect starting 2025, but car makers will be given a two-year reprieve to gather materials. Battery makers including Samsung and LG Energy Solution have been rushing to source non-Chinese extracted graphite, while Posco Future is looking to African graphite supplies. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- The US has been wary of Chinese EV supply:<\/strong> In April, US Treasury Janet Yellen warned that Beijing was <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/dca52e28-90cb-4420-9269-412c3be08a7d\/today:-hassan-allam-utilities-%25e2%2599%25a5%25ef%25b8%258f-egyptian-renewables-%2B-adnoc-gets-the-ok-for-fertiglobe-acquisition.\" style=\"\" rel=\"noopener\">dumping<\/a> excess production of solar panels, EVs, and lithium ion batteries on other countries. She said the practice \u201cdistorts global prices and production patterns and hurts American firms and workers, as well as firms and workers around the world.\u201d <\/p>\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>Indonesian forestry project fights to resume operations: <\/strong><a target=\"_blank\" href=\"https:\/\/rimba-raya.com\/\" style=\"\" rel=\"noopener\">Rimba Raya Conservation<\/a>, one of the world\u2019s largest <a target=\"_blank\" href=\"https:\/\/unfccc.int\/topics\/land-use\/workstreams\/redd\/what-is-redd#:~:text=REDD%2B%20primarily%20aims%20at%20the,emissions%20at%20the%20national%20level.\" style=\"\" rel=\"noopener\">REDD+<\/a> peat swamp forest projects, is seeking legal permission from an Indonesian court to continue operating on a 36k hectare area in Borneo, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-05-08\/world-s-biggest-offsets-project-operator-sues-indonesia?srnd=homepage-americas\" style=\"\" rel=\"noopener\">Bloomberg<\/a> writes. The company filed a lawsuit against Indonesia's Ministry of Environment and Forestry after its permit for the flagship project in Central Kalimantan was revoked last year due to alleged violations of local carbon market regulations.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Rimba Raya denies wrongdoing:<\/strong> Rimba Raya Conservation contends that it has adhered to Indonesian regulations regarding carbon trading, including fulfilling payments to the state, according to Bloomberg. It has filed a lawsuit to challenge the Ministry's decision to revoke its permit and is seeking reimbursement for legal expenses. The Indonesian government has not commented on the matter.<\/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\/around-the-world\/\">AROUND THE WORLD<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/evs\/\">EVs<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"84090\" 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\/05\/09\/84090\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-84090\" class=\"content-area-description single-story post-84090 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;\">MAY 2024<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>6-9 May (Monday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.wtm.com\/atm\/en-gb.html\" style=\"\">Arabian Travel Market<\/a><\/span><span>, <\/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>7-9 May (Tuesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.globalwasteforum.com\/en\" style=\"\">Global Waste Forum<\/a><\/span><span>, <\/span><span style=\"font-weight:400;\">Algiers, Algeria. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"\">14-15 May (Tuesday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/invest-africa-energy.com\/\" style=\"\">Invest in African Energy (IAE) Forum<\/a><\/span><span style=\"font-weight:400;\">, Paris, France. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>14-16 May (Tuesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.theairportshow.com\/en-gb\/visit.html\" style=\"\">Airport Show<\/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>18-25 May (Saturday-Saturday) <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/worldwaterforum.org\/\" style=\"\">The World Water Forum<\/a><\/span><span style=\"font-weight:400;\">, Bali, Indonesia. <\/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, Saudi Arabia. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>20-22 May (Monday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.evinnovationsummit.com\/\" style=\"\">Electric Vehicle Innovation 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>28-30 May (Tuesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.moiat.gov.ae\/en\/media-center\/news\/2024\/01\/23\/miite-forum-dates?\" style=\"\">Make it in the Emirates Forum<\/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 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 style=\"font-weight:400;\">, Saudi Arabia.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>11-12 June (Tuesday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.tap.info.tn\/en\/Portal-Economy\/17243638-over-100-financial\" style=\"\">International Conference on Financing Investment and Trade in Africa (FITA 2024)<\/a><\/span><span style=\"font-weight:400;\">, 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>1-3 October (Tuesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.wetex.ae\" style=\"\">Water, Energy and Environment Technology Exhibition (WETEX)<\/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>13-17 October (Sunday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.cairowaterweek.eg\/cww2024\/#:~:text=The%20upcoming%20seventh%20edition%2C%20Cairo,Climate%3A%20Building%20Resilient%20Communities.%E2%80%9D\" style=\"\">Cairo Water Week<\/a><\/span><span style=\"font-weight:400;\">, Cairo Egypt. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>15-17 October (Tuesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/evautoshowonline.com\/\" style=\"\">EV Auto Show<\/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\">NOVEMBER 2024<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>4-8 November (Monday-Friday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/wuf.unhabitat.org\/\" style=\"\">World Urban Forum<\/a><\/span><span style=\"font-weight:400;\">, Cairo, Egypt.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>11-22 November (Monday-Friday) <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/unfccc.int\/cop29\" style=\"\">United Nations Climate Change Conference or Conference of the Parties (COP29)<\/a><\/span><span style=\"font-weight:400;\">, Baku, Azerbaijan. <\/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): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.adipec.com\/\" style=\"\">Abu Dhabi International Petroleum Exhibition & Conference (ADIPEC)<\/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>26-28 November (Tuesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.saudi-electricityexpo.com\/en\/home.html\" style=\"\">Saudi Electricity Expo<\/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;\">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, 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>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:\/\/climate.enterprise.press\/stories\/2022\/09\/01\/central-asias-largest-wind-farm-brought-to-you-by-masdar-79878\/\" 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:\/\/climate.enterprise.press\/stories\/2022\/08\/30\/could-fdi-help-egypts-solar-industry-traverse-the-fx-crisis-79599\/\" 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:\/\/climate.enterprise.press\/stories\/2022\/09\/01\/uae-may-be-getting-more-evs-79880\/\" 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:\/\/climate.enterprise.press\/stories\/2022\/09\/01\/qatar-to-build-usd-1-bn-blue-ammonia-plant-79877\/\" 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:\/\/climate.enterprise.press\/stories\/2022\/09\/01\/will-we-soon-see-a-carbon-offset-tax-in-egypt-79885\/\" 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:\/\/climate.enterprise.press\/stories\/2022\/08\/30\/goodbye-single-ac-units-mena-wont-be-needing-your-services-anymore-79605\/\" 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: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>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:\/\/climate.enterprise.press\/stories\/2022\/08\/29\/today-welcome-to-enterprise-climate-the-essential-daily-covering-climate-change-in-the-middle-east-and-africa-business-finance-investment-79432\/\" 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:\/\/climate.enterprise.press\/stories\/2022\/08\/29\/enterprise-climate-sits-down-with-mariam-almheiri-the-uaes-climate-change-and-environment-minister-79434\/\" 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:\/\/climate.enterprise.press\/stories\/2022\/09\/07\/project-update-tunisia-speaks-to-afdb-ifc-for-solar-plant-financing-80546\/\" 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:\/\/climate.enterprise.press\/stories\/2022\/08\/30\/today-cloud-wars-afreximbank-gets-love-from-nexi-also-indias-reliance-wants-to-build-20-gw-of-renewables-79598\/\" 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:\/\/climate.enterprise.press\/stories\/2022\/08\/31\/moroccos-usd-18-bn-renewables-export-hub-79733\/\" 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:\/\/climate.enterprise.press\/stories\/2022\/09\/01\/qatar-to-build-usd-1-bn-blue-ammonia-plant-79877\/\" 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:\/\/climate.enterprise.press\/stories\/2022\/08\/29\/today-welcome-to-enterprise-climate-the-essential-daily-covering-climate-change-in-the-middle-east-and-africa-business-finance-investment-79432\/\" style=\"\">achieve its net-zero<\/a><\/span><span> 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>High demand for Aldar\u2019s green sukuk issuance | A new EV battery parts plant for Morocco | The US has a new bone to pick with China over biofuels<\/p>\n","protected":false},"featured_media":84073,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-84072","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"30392cf6-ac14-4a5b-bd6a-806c27884900","teaser":"High demand for Aldar\u2019s green sukuk issuance | A new EV battery parts plant for Morocco | The US has a new bone to pick with China over biofuels","photo_url":"https:\/\/ent.news\/2024\/4\/489.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>Aldar pulls the trigger on green sukuk issuance - Climate<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/climate\/issues\/aldar-pulls-the-trigger-on-green-sukuk-issuance\/\" \/>\n<meta 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