{"id":88821,"date":"2024-12-24T00:00:00","date_gmt":"2024-12-24T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/climate\/?post_type=issue&#038;p=88821"},"modified":"2025-12-15T12:02:24","modified_gmt":"2025-12-15T12:02:24","slug":"ebrd-greenlights-usd-275-mn-loan-for-acwa-hau-mega-wind-farm","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/climate\/issues\/ebrd-greenlights-usd-275-mn-loan-for-acwa-hau-mega-wind-farm\/","title":{"rendered":"EBRD greenlights USD 275 mn loan for Acwa + HAU mega wind farm"},"content":{"rendered":"<section id=\"88823\" 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=\"88823\">\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\/12\/24\/today-fresh-financing-for-acwa-and-hau-mega-wind-farm-saudi-may-get-a-new-e-saf-plant\/\">\r\n                            TODAY: Fresh financing for Acwa and HAU mega wind farm + Saudi may get a new e-SAF 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\/12\/24\/today-fresh-financing-for-acwa-and-hau-mega-wind-farm-saudi-may-get-a-new-e-saf-plant\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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Let\u2019s kick the updates off with new projects on the horizon for UAE\u2019s Amea Power\u2026<\/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\">WATCH THIS SPACE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a id=\"wwtt1\"><\/a>#1- Amea Power is mulling venturing into desalination and green hydrogen <\/strong><strong>projects in Morocco<\/strong>, lining up plans to invest at least USD 100 mn in a desalination project through Spain\u2019s Cox, a water and energy solutions firm in which the Emirati company <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/5e827f7c-4615-4eda-b9a1-e4ce8adc973e\/\" style=\"\" rel=\"noopener\">acquired a stake<\/a> during its recent IPO, Amea Chairman Hussain Al Nowais told Asharq Business (<a target=\"_blank\" href=\"https:\/\/asharqbusiness.com\/financing-and-investment\/64772\/%D8%A5%D9%8A%D9%85%D9%8A%D8%A7-%D8%A8%D8%A7%D9%88%D8%B1-%D8%AA%D8%AA%D8%B7%D9%84%D8%B9-%D9%84%D9%84%D8%A7%D8%B3%D8%AA%D8%AB%D9%85%D8%A7%D8%B1-%D8%A8%D8%AA%D8%AD%D9%84%D9%8A%D8%A9-%D8%A7%D9%84%D9%85%D9%8A%D8%A7%D9%87-%D9%88%D8%A7%D9%84%D9%87%D9%8A%D8%AF%D8%B1%D9%88%D8%AC%D9%8A%D9%86-%D8%A8%D8%A7%D9%84%D9%85%D8%BA%D8%B1%D8%A8\/\" style=\"\" rel=\"noopener\">watch, runtime: 2:30<\/a>). The company is also in the early stages of exploring a green hydrogen production project with a potential capacity of up to 1 GW in southern Morocco. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The move expands the company\u2019s current portfolio in Morocco<\/strong>, which includes four renewable energy projects with a total capacity of more than 200 MW.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a id=\"wwtt2\"><\/a><\/strong><strong>#2- A fresh green hydrogen project for Egypt? <\/strong>Egypt\u2019s Suez Canal Economic Zone (SCZone) is in the process of inking a framework agreement for a USD 7.5 bn green hydrogen project, SCZone head Walid Gamal El Din <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0S1Turac5oxtMShLiCVKKYVr5q6s9avZEcK2iraqSoPDJfRn75pygJnDkpkCdMf8Hl\" style=\"\" rel=\"noopener\">said<\/a> during a meeting with Egyptian Prime Minister Moustafa Madbouly. The project will have a production capacity of 1.3 mn tons annually. The agreement will follow the signing of 12 other framework agreements for green hydrogen production.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ON A RELATED NOTE- Egypt launched its first platform for green hydrogen exchange <\/strong><strong>connecting public and private stakeholders from the industry<\/strong>, according to a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/share\/p\/15qFw6VJMQ\/\" style=\"\" rel=\"noopener\">statement<\/a>. The platform \u2014 to be functional for at least the next two years \u2014 was conceived in a workshop coordinated by the Egyptian-German Green Hydrogen Partnership and the Ministries of Energy and Petroleum, with the German Agency for International Cooperation as a sponsor. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a id=\"wwtt3\"><\/a>#3- <\/strong><strong>Maaden + Alba extends non-binding investment agreement to 2025:<\/strong> Saudi mining company Ma\u2019aden has extended its non-binding agreement with Aluminium Bahrain (Alba) exploring Maaden\u2019s potential investment in the company, according to a <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/?anId=84291&anCat=1&cs=1211&locale=en\" style=\"\" rel=\"noopener\">Tadawul<\/a><a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/?anId=84291&anCat=1&cs=1211&locale=en\" style=\"\" rel=\"noopener\">disclosure<\/a>. The agreement \u2014 originally set to expire on 31 December \u2014 was extended until 30 April 2025.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REFRESHER- The companies have been exploring a merger: <\/strong>Maaden and Alba\u2019s non-binding Heads of Terms agreement was <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/66cae1a5-e6e5-408b-98d0-7823c89352b2\/\" style=\"\" rel=\"noopener\">signed in September<\/a> and it is exploring an arrangement in which Maaden would swap its full share capital of subsidiaries Maaden Aluminum and Maaden Bauxite and Alumina for new shares in Alba. The agreement is also exploring a cross-listing of Alba\u2019s shares on Tadawul. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#4- The EU\u2019s green bonds rules are live: <\/strong>The <a target=\"_blank\" href=\"https:\/\/finance.ec.europa.eu\/sustainable-finance\/tools-and-standards\/european-green-bond-standard-supporting-transition_en\" style=\"\" rel=\"noopener\">European Green Bond Standard (EUGBS)<\/a> entered into effect over the weekend, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-12-23\/eu-s-gold-standard-for-green-bonds-to-create-new-market-segment\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reports. The new voluntary rules \u2014 formally approved in November 2023 \u2014 outline strict criteria for issuances to be classified as \u201cEuropean green bonds\u201d in an attempt to address greenwashing in the market. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> have limited the pool of eligible borrowers. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What are the criteria? <\/strong>The new criteria necessitate that at least 85% of a bond\u2019s proceeds are aligned with the <a target=\"_blank\" href=\"https:\/\/finance.ec.europa.eu\/sustainable-finance\/tools-and-standards\/eu-taxonomy-sustainable-activities_en\" style=\"\" rel=\"noopener\">EU\u2019s green taxonomy<\/a>, a separate set of sustainability rules. All qualified projects must also stick with a \u201cdo no significant harm\u201d condition and be certified by an EU green bond reviewer delegated by the European Securities and Markets Authority. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The impact: <\/strong>The strict nature of the rules may deter issuers from taking up the European standards, and many will opt to adopt the more lenient International Capital Market Association\u2019s Green Bond Principles, bankers told Bloomberg. However, issuers with obvious green assets like renewable projects. Those targeting investors with green mandates may also opt-in, given the projected lower borrowing costs associated with the EU standards. \u201cEU sovereigns, supranationals and agencies, together with pure-play green companies\u201d are expected to be the first movers, Bloomberg said, citing an analysis by law firm A&O Shearman. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#5- BloombergNEF triples its 2050 forecast for green hydrogen prices: <\/strong>Despite politicians and business leaders placing their bets on green hydrogen, the energy source will remain much more expensive than expected for decades, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-12-23\/green-hydrogen-prices-will-remain-stubbornly-high-for-decades?srnd=homepage-africa\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reports, citing a new analysis by its research arm. While the sector is slowing demand due to regulatory uncertainty and infrastructure challenges, the higher-than-expected costs of electrolyzer technology are cited as the main reason for the projection. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The catch: <\/strong>Costs will still go down, but much less than previously predicted. At the current projection, the price of green hydrogen will decrease from today\u2019s range of USD 3.74 to USD 11.7 per kg to a range of USD 1.6 to USD 5.1 in 2050. The hike will impact hard-to-abate sectors the most, whose decarbonization plans are largely dependent on green hydrogen.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Some regions will be exempt: <\/strong>China and India will likely see more cost-competitive green hydrogen prices, with a predicted average rate of USD 1.6 per kg. This rate will be similar to the prices of the fossil-dependent gray hydrogen, which currently sells at a range of USD 1.1 to USD 2.4. <\/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 EnterpriseAM Climate, the essential MENA publication for senior <\/strong><strong>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>EnterpriseAM Climate is available without charge <\/strong>thanks to the generous support of our friends at HSBC and Infinity Power.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Were you forwarded this email? <\/strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/user\/news-letters\" style=\"\" rel=\"noopener\">Tap or click here<\/a> to get your own copy of Enterprise Climate.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Want to send us a story idea<\/strong>, request coverage, ask for a correction, or otherwise get in touch? Reach out to us on <a target=\"_blank\" href=\"mailto:climate@enterprisemea.com\" style=\"\" rel=\"noopener\">climate@enterprisemea.com<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>DID YOU KNOW <\/strong>that we also cover <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\" style=\"\" rel=\"noopener\">Egypt<\/a>, <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\" style=\"\" rel=\"noopener\">Saudi Arabia<\/a>, <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\" style=\"\" rel=\"noopener\">the UAE<\/a>, and the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/logistics\/en\" style=\"\" rel=\"noopener\">MENA<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/logistics\/en\" style=\"\" rel=\"noopener\">logistics industry<\/a> ?<br \/><strong>***<\/strong><\/p>\n<p style=\"padding:0;line-height:1.15;margin-right:-9pt;margin-left:0;margin-top:0;orphans:2;margin-bottom:0;widows:2;text-align:left\"><strong>CIRCLE YOUR CALENDAR- <\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The UAE will host the <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.worldfutureenergysummit.com\/\" style=\"\" rel=\"noopener\">World Energy Summit<\/a><\/strong><strong> from Tuesday, 14 January to Thursday, 16 <\/strong><strong>January<\/strong> in Abu Dhabi. The summit will host over 350 speakers including energy industry leaders and policymakers with discussions ranging from eco-waste to sustainable cities. An exhibition will also be held for showcasing green products.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Saudi Arabia will host the <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.futuremineralsforum.com\/\" style=\"\" rel=\"noopener\">Future Minerals Forum<\/a><\/strong><strong> from Tuesday, 14 January to Thursday, <\/strong><strong>16 January<\/strong> in Riyadh. The forum will gather stakeholders from over 170 countries to discuss mineral technology and exploration. Speakers will include senior government officials and CEOs from renowned mining companies Vale, Rio Tinto, and Manara.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.1500000000000001;orphans:2;widows:2;text-align:left\"><strong>Bahrain will host the <\/strong><strong><a target=\"_blank\" href=\"https:\/\/sustainmideast.com\/\" style=\"\" rel=\"noopener\">Sustainability Forum Middle East<\/a><\/strong><strong> from Tuesday, 28 January to <\/strong><strong>Wednesday, 29 January<\/strong> in Manama. Climate experts and decision-makers will convene to discuss a number of issues ranging from decarbonization to supporting SMEs on their path to net zero. Speakers will include GCC government officials and industry leaders from the banking and industrial sectors.<\/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\/alba\/\">Alba<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/bahrain\/\">Bahrain<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/egypt\/\">Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/european-union\/\">European Union<\/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\/green-hydrogen\/\">green hydrogen<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/maaden\/\">Maaden<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/saudi-arabia\/\">Saudi Arabia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/what-were-tracking-today\/\">WHAT WE\u2019RE TRACKING TODAY<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"88825\" 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    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story-section            \"\r\n            id=\"88826\">\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\/12\/24\/ebrd-greenlights-usd-275-mn-loan-for-gulf-of-suez-mega-wind-farm\/\">\r\n                            EBRD greenlights USD 275 mn loan for Gulf of Suez mega wind farm                        <\/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 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Gulf of Suez mega wind farm\">\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=EBRD+greenlights+USD+275+mn+loan+for+Gulf+of+Suez+mega+wind+farm+https%3A%2F%2Fenterpriseam.com%2Fclimate%2F2024%2F12%2F24%2Febrd-greenlights-usd-275-mn-loan-for-gulf-of-suez-mega-wind-farm%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\/12\/24\/ebrd-greenlights-usd-275-mn-loan-for-gulf-of-suez-mega-wind-farm\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/2088.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"88827\" data-permalink=\"https:\/\/enterpriseam.com\/climate\/2024\/12\/24\/ebrd-greenlights-usd-275-mn-loan-for-gulf-of-suez-mega-wind-farm\/2088-jpg-3\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/2088.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2088.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/2088.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/2088.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-88826\" class=\"content-area-description single-story post-88826 post type-post status-publish format-standard has-post-thumbnail hentry category-debt-watch tag-acwa-power tag-debt-watch tag-ebrd tag-enterpriseclimate tag-renewables 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\/12\/.88cb22fc-27ac-4ecd-884b-65c4fc47fc5b.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>EBRD approves financing for Gulf of Suez mega wind farm: <\/strong>The European Bank for Reconstruction and Development (EBRD) approved a USD 275 mn syndicated loan to Saudi renewables giant Acwa Power and Hassan Allam Utilities\u2019 <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/ef383d7d-d396-44aa-8217-d4bb65599b2e\/\" style=\"\" rel=\"noopener\">1.1 GW wind farm<\/a> in the Gulf of Suez \u2014 the largest wind project in both Africa and the Middle East, according to statements <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid029eRoFQhWgfXHbpRmwZ62kAwjvUPSFpEpnYQzccSdukMeafPgkcySeTmi88AX4AZwl\" style=\"\" rel=\"noopener\">here<\/a> and <a target=\"_blank\" href=\"https:\/\/www.ebrd.com\/news\/2024\/ebrd-supports-the-largest-onshore-wind-project-in-africa.html#:~:text=The%20European%20Bank%20for%20Reconstruction,largest%20wind%20farm%20in%20Africa.\" style=\"\" rel=\"noopener\">here<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We knew this was coming:<\/strong> We first heard about the loan <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/4a981393-ae00-473d-85b6-10686a7ced1d\/\" style=\"\" rel=\"noopener\">back in November<\/a>, when the two companies were said to be in talks with the EBRD over the funding. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Everyone is pitching in: <\/strong>The EBRD is contributing USD 200 mn and the remaining USD 75 mn will be coming from Arab Bank (USD 60 mn) and Standard Chartered (USD 15 mn). The USD 1.1 bn project is also backed by a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/f02e7cd1-cfae-41e0-9d09-47797567c154\/\" style=\"\" rel=\"noopener\">USD 170 mn loan<\/a> from the African Development Bank, a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/0ea6498d-6f5e-4ddb-8e04-db10a3a85c85\" style=\"\" rel=\"noopener\">USD 40 mn loan<\/a> from the OPEC Fund for International Development, the British International Investment, Deutsche Investitions und Entwicklungsgesellschaft, and the Arab Petroleum Investments Corporation.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Is financing on track? <\/strong>The two companies are reportedly set to secure close to USD 900 mn in financing by the end of the year for their 1.1 GW wind farm in the Gulf of Suez, a source with knowledge of the matter <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/ef383d7d-d396-44aa-8217-d4bb65599b2e\/\" style=\"\" rel=\"noopener\">told EnterpriseAM<\/a> in September. <\/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\">IN OTHER EBRD NEWS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Turkey\u2019s Kavram Enerji gets USD 42 mn loan for solar production: <\/strong>Turkey\u2019s Kavram Enerji \u2014 a subsidiary of <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/f992e781-8b40-4634-838d-ed563f37d216\/iraq-kicks-off-operations-on-a-300-mw-power-line-to-export-energy-to-turkey\" style=\"\" rel=\"noopener\">Fiba Renewables<\/a> \u2014 has secured a USD 42 mn (EUR 39.7 mn) loan from the European Bank for Reconstruction and Development (EBRD), according to a <a target=\"_blank\" href=\"https:\/\/www.ebrd.com\/news\/2024\/ebrd-strengthens-trkiyes-renewable-energy-drive-with-fiba-partnership.html\" style=\"\" rel=\"noopener\">press release<\/a>. The money will go towards building solar power plants in Isparta and Balikesir. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>About the plants: <\/strong>A 55 MW hybrid solar power plant will be built in Isparta, and another 20 MW plant will be built in Balikesir. Together, the plants will reduce emissions by 37k tons annually. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>EBRD ? Fiba: <\/strong>The loan is part of a first round of investments in a partnership between EBRD and Fiba focusing on scalable hybrid solutions in Turkey. The bank hopes that the partnership will work as a \u201ccatalyst\u201d for the large-scale expansion of hybrid renewables projects, which combine two or more renewable sources, usually with the support of a battery storage system and a shared connection point, to increase efficiency and reliability. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Turkey, too: <\/strong>EBRD is a major supporter of Turkish leasing and lending companies, providing multiple facilities to support on-lending for green projects. In the last few months, it announced three loans totaling <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/0a6174ec-6c11-40c3-b788-d770f295c594\/green-finance,-solar,-and-recycling-updates-from-turkey,-egypt,-morocco,-and-the-uae\" style=\"\" rel=\"noopener\">EUR 100 mn<\/a> from its Green Economy Financing Facility II (GEEF II) to finance on-lending for green projects. It also extended a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/fcb2479d-443c-482c-bd93-c52faa96c493\/%253cmark%253eebrd%253c%2Fmark%253e-extends-usd-60-mn-loan-for-116-mw-turkish-wind-energy-project\" style=\"\" rel=\"noopener\">EUR 55 mn loan<\/a> to Turkish renewable energy firm Borusan EnBW Enerji in September to build a 116 MW onshore wind energy project in Sivas and Tekirda\u011f. EBRD\u2019s total investments in the country since 2009 have hit the EUR 20 bn mark.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/acwa-power\/\">ACWA Power<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/debt-watch\/\">DEBT WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/ebrd\/\">EBRD<\/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                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"88828\" 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=\"88828\">\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\">BIOFUELS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/climate\/2024\/12\/24\/saudi-and-oman-to-build-saf-plants\/\">\r\n                            Saudi and Oman to build SAF plants                        <\/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\/12\/24\/saudi-and-oman-to-build-saf-plants\/\" 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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Land and solar energy assets have been set aside by the Kingdom for the project, Holen added. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The details: <\/strong>The company plans to use energy from solar assets and green hydrogen to annually produce around 350 mn litres of e-SAF, with a 2029 launch date if the project is fast-tracked. Solar energy will come from existing assets in the region, while the company plans to produce its own green hydrogen in the Kingdom. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>SOUND SMART- <\/strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/30c44249-6337-462d-9ddb-e140aa46be8e\/enterprise-explains:-what-is-holding-back-wider%253cmark%253e-saf%253c%2Fmark%253e-adoption%3F\" style=\"\" rel=\"noopener\">SAF<\/a> is an alternative fuel made from non-petroleum feedstocks \u2014 raw materials or biomass other than traditional crude oil like cooking oil and waste, which are chemically and physically identical to conventional jet fuel. Since it is a drop-in fuel \u2014 meaning it can be used in the existing fuel systems \u2014 SAF bypasses concerns of incompatibility with existing fuelling infrastructure and can be blended at levels between 10-15%.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The company has regional ambitions: <\/strong>Another e-SAF plant in Oman is also in the works for Nordic Electrofuel, with plans to use green hydrogen purchased from Oman\u2019s planned mega production projects. The company \u2014 which is set to benefit from the region\u2019s cost-competitive renewable energy \u2014 also plans to use its initial production to supply regional airlines to avoid the EU\u2019s criteria on renewable fuel of non-biological origins.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- Oman has its sights on e-fuel production: <\/strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/b774ae97-a9f4-4707-b0c2-f0edfc7d1194\/oq-alternative-energy-to-explore-producing-e-fuels-in-oman\" style=\"\" rel=\"noopener\">In June<\/a>, Omani OQ Group\u2019s green unit OQ Alternative Energy signed two agreements to explore developing e-fuels in Oman. One agreement signed with Belgium\u2019s Tree Energy Solutions (TES) will see the pair assess the viability of electric Natural Gas (e-NG) production, and the other was signed with Dutco, Sumitomo, Automobili Lamborghini, and Airbus for a joint feasibility study to evaluate the production of e-Gasoline and e-SAF. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>KSA as well: <\/strong>Saudi oil giant Aramco is investing \u201c <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/3d14182e-433a-4f38-ba20-41a9c9f6a768\/aviation-report:-a-battle-over-emissions,-lots-of-saf,-more-affordable-tickets,-and-cross-border-cargo\" style=\"\" rel=\"noopener\">hundreds of mns of USD<\/a> \u201d in multiple SAF demonstration projects in the Kingdom and abroad, including one that was inaugurated in UK\u2019s Oxford Airport in August and <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/4e50ecba-0e68-415d-ac66-03e9e427f39f\/aramco-backed-oxccu-launches%253cmark%253e-saf%253c%2Fmark%253e-demonstration-plant\" style=\"\" rel=\"noopener\">another two<\/a> that are planned for launch in Neom in 2025. Another e-fuels demonstration plant with Spain\u2019s Respol was said to be in the works to produce 8k liters per day in Spain. <\/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\/aviation\/\">Aviation<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/biofuels\/\">biofuels<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/oman\/\">Oman<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/saudi-arabia\/\">Saudi Arabia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/sustainable-aviation-fuels\/\">sustainable aviation fuels<\/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=\"88830 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=\"88830\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/climate\/2024\/12\/24\/88830\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-88830\" class=\"content-area-description single-story post-88830 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:\/\/weareinfinitypower.com\/\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/851.jpg?ssl=1\"><\/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=\"88831\" 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=\"88831\">\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\">SOLAR<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/climate\/2024\/12\/24\/trinasolar-to-supply-bess-solutions-for-ameas-adydos-solar-plant\/\">\r\n                            Trinasolar to supply BESS solutions for Amea\u2019s Adydos solar plant                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/climate\/2024\/12\/24\/trinasolar-to-supply-bess-solutions-for-ameas-adydos-solar-plant\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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The BESS capacity will be integrated into the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/3353d732-aa27-4d6d-95ba-2de58d5edd02\" style=\"\" rel=\"noopener\">existing 500 MW Abydos Solar PV power plant<\/a> that was inaugurated earlier this month in Kom Ombo, Aswan. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">(<strong>** Tap or click the headline above to read this story with all of the links<\/strong> to our background and outside sources.)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The tech:<\/strong> Trinasolar will provide its <a target=\"_blank\" href=\"https:\/\/www.trinasolar.com\/us\/Storage\/Solution\" style=\"\" rel=\"noopener\">Elementa 2 Elevate<\/a> BESS utility-scale modules, with a 5MWh capacity each. The tech offers a \u201cCell-to-AC\u201d solution to enhance grid stability with several efficiency and safety features. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>About Abydos: <\/strong>In September, Amea Power secured agreements to develop the next phase of the project, Abydos 2, which will add an additional 1 GW of power capacity and 600 MWh of BESS capacity. After the additions, the project is set to be the largest in Africa, offsetting 782.3k tons of CO2 emissions and powering about 300k households. Last week, Egypt\u2019s Cabinet <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/b0557a71-2dd7-4482-b901-75402591a94a\/today:-a-big-day-for-acwa--%2B-hassan-allam-utilities-secures-renewables-financing\" style=\"\" rel=\"noopener\">granted<\/a> phase 2 of the project the country\u2019s golden license to streamline its development. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Amea has another major Egypt development in the pipeline:<\/strong> The firm is working to set up a USD 600 mn, <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/0d82ec83-5cdf-4327-ac16-6a32e2c55a0e\" style=\"\" rel=\"noopener\">5 GW wind power project<\/a> in the Gulf of Suez in cooperation with the Egyptian Electricity Transmission Company and the New and Renewable Energy Authority.<\/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\/amea-power\/\">Amea Power<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/bess\/\">BESS<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/egypt\/\">Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/solar\/\">SOLAR<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/solar-energy\/\">solar energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"88833\" 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=\"88833\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">5<\/div>\r\n\r\n                    <p class=\"f-graphik\">ALSO ON OUR RADAR<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/climate\/2024\/12\/24\/green-finance-manufacturing-and-energy-efficiency-updates-from-qatar-uae-and-saudi\/\">\r\n                            Green finance, manufacturing, and energy efficiency updates from Qatar, UAE, and Saudi                        <\/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\/12\/24\/green-finance-manufacturing-and-energy-efficiency-updates-from-qatar-uae-and-saudi\/\" 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\/12\/24\/green-finance-manufacturing-and-energy-efficiency-updates-from-qatar-uae-and-saudi\/')\">\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\/12\/24\/green-finance-manufacturing-and-energy-efficiency-updates-from-qatar-uae-and-saudi\/\">\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=Green finance, manufacturing, and energy efficiency updates from Qatar, UAE, and Saudi&url=https:\/\/enterpriseam.com\/climate\/2024\/12\/24\/green-finance-manufacturing-and-energy-efficiency-updates-from-qatar-uae-and-saudi\/\">\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\/12\/24\/green-finance-manufacturing-and-energy-efficiency-updates-from-qatar-uae-and-saudi\/&title=Green finance, manufacturing, and energy efficiency updates from Qatar, UAE, and Saudi\">\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=Green+finance%2C+manufacturing%2C+and+energy+efficiency+updates+from+Qatar%2C+UAE%2C+and+Saudi+https%3A%2F%2Fenterpriseam.com%2Fclimate%2F2024%2F12%2F24%2Fgreen-finance-manufacturing-and-energy-efficiency-updates-from-qatar-uae-and-saudi%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\/12\/24\/green-finance-manufacturing-and-energy-efficiency-updates-from-qatar-uae-and-saudi\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/748.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"88834\" data-permalink=\"https:\/\/enterpriseam.com\/climate\/2024\/12\/24\/green-finance-manufacturing-and-energy-efficiency-updates-from-qatar-uae-and-saudi\/748-jpg-3\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/748.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"748.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/748.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/748.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-88833\" class=\"content-area-description single-story post-88833 post type-post status-publish format-standard has-post-thumbnail hentry category-also-on-our-radar tag-also-on-our-radar tag-energy-efficiency tag-enterpriseclimate tag-green-finance tag-green-manufacturing tag-hsbc tag-qatar 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\/12\/.153e4c98-5074-463a-8385-0552cc9518bd.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">GREEN FINANCE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Al Rayan Bank and HSBC partner on ESG-linked Islamic repo:<\/strong> Qatari Islamic bank Al Rayan Bank (Masraf Al Rayan) and HSBC have completed what the pair described as the \u201cfirst Islamic ESG KPI-linked\u201d repurchase agreement (repo), according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/12\/2106.pdf\" style=\"\" rel=\"noopener\">disclosure<\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/12\/2106.pdf\" style=\"\" rel=\"noopener\">(pdf)<\/a>. The exact size of the repo wasn\u2019t disclosed.<\/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 deal will support the Sustainable Performance Targets (SPTs) that Al Rayan Bank must meet over the next three years as part of its <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/12\/2109.pdf\" style=\"\" rel=\"noopener\">Sustainable Finance Framework (pdf)<\/a>, which was launched in 2022 to support Qatar\u2019s net zero goals and the Qatar National Vision 2030. The bank currently offers a range of Environmental, Social, and Governance (ESG) products, such as EV financing and green deposits.<\/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\">GREEN MANUFACTURING-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Drydocks opens advanced infrastructure-making facility: <\/strong>Offshore construction services company <a target=\"_blank\" href=\"https:\/\/www.drydocks.gov.ae\/about-us\" style=\"\" rel=\"noopener\">Drydocks World<\/a> has opened its South Yard manufacturing expansion, <a target=\"_blank\" href=\"https:\/\/www.wam.ae\/en\/article\/14a7oxy-drydocks-world-unveils-major-expansion-lead-global\" style=\"\" rel=\"noopener\">Wam<\/a> reported on Monday. The new 75k sqm facility \u2014 powered entirely by solar energy \u2014 will allow the company to expand its fabrication capacity by 40%. Designed to support Drydocks in expanding its renewable energy infrastructure manufacturing capacity, particularly for offshore wind developments, the expansion will also allow the company to handle multiple complex, large-scale fabrications simultaneously. <\/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\">ENERGY EFFICIENCY-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Bahrain\u2019s tech firm Beyon extends sustainability partnership with Ericsson: <\/strong>Swedish telecommunications company <a target=\"_blank\" href=\"https:\/\/www.ericsson.com\/en\/about-us\" style=\"\" rel=\"noopener\">Ericsson<\/a> and Bahraini technology group <a target=\"_blank\" href=\"https:\/\/beyon.com\" style=\"\" rel=\"noopener\">Beyon<\/a> have renewed their sustainability partnership to boost circular economy practices and energy efficiency in Bahrain\u2019s telecom networks, according to a <a target=\"_blank\" href=\"https:\/\/beyon.com\/2024\/12\/23\/beyon-renews-partnership-with-ericsson-to-support-its-sustainability-and-circular-economy-practices\/\" style=\"\" rel=\"noopener\">press release<\/a>. The partnership \u2014 launched in early 2024 \u2014 has helped the Beyon-owned telecom company <a target=\"_blank\" href=\"https:\/\/batelco.com\/\" style=\"\" rel=\"noopener\">Batelco<\/a> cut its energy consumption by 30% using Ericsson\u2019s 5G technology and energy-saving software, <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/press-release\/companies-news\/ericsson-and-beyon-renew-mou-strengthening-sustainability-and-circular-economy-efforts-ccp54k5a\" style=\"\" rel=\"noopener\">Zawya<\/a> reported. The pair also launched an e-waste recycling initiative to support circular economy practices.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>OTHER STORIES WORTH KNOWING ABOUT THIS MORNING-<\/strong><\/p>\n<ul>\n<li><strong>UAE joins ATS: <\/strong>The UAE has acceded to the Antarctic Treaty System, allowing it more involvement in polar research through its Emirates Polar Programme, including on polar marine conservation. The ascension will allow the country to attend the Antarctic Treaty Consultative Meeting, participate in research, and establish a physical presence in the polar region. (<a target=\"_blank\" href=\"https:\/\/www.wam.ae\/en\/article\/b6u4xjd-uae-accedes-antarctic-treaty-system-accelerate\" style=\"\" rel=\"noopener\">Wam<\/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\/energy-efficiency\/\">energy efficiency<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/green-finance\/\">green finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/green-manufacturing\/\">GREEN MANUFACTURING<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/hsbc\/\">HSBC<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/qatar\/\">Qatar<\/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=\"88835\" 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=\"88835\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">6<\/div>\r\n\r\n                    <p class=\"f-graphik\">AROUND THE WORLD<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/climate\/2024\/12\/24\/us-oilfield-cuts-methane-emissions-by-26-in-2023\/\">\r\n                            US oilfield cuts methane emissions by 26% 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\/12\/24\/us-oilfield-cuts-methane-emissions-by-26-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(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/climate\/2024\/12\/24\/us-oilfield-cuts-methane-emissions-by-26-in-2023\/')\">\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\/12\/24\/us-oilfield-cuts-methane-emissions-by-26-in-2023\/\">\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=US oilfield cuts methane emissions by 26% in 2023&url=https:\/\/enterpriseam.com\/climate\/2024\/12\/24\/us-oilfield-cuts-methane-emissions-by-26-in-2023\/\">\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\/12\/24\/us-oilfield-cuts-methane-emissions-by-26-in-2023\/&title=US oilfield cuts methane emissions by 26% in 2023\">\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=US+oilfield+cuts+methane+emissions+by+26%25+in+2023+https%3A%2F%2Fenterpriseam.com%2Fclimate%2F2024%2F12%2F24%2Fus-oilfield-cuts-methane-emissions-by-26-in-2023%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\/12\/24\/us-oilfield-cuts-methane-emissions-by-26-in-2023\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/89.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"88836\" data-permalink=\"https:\/\/enterpriseam.com\/climate\/2024\/12\/24\/us-oilfield-cuts-methane-emissions-by-26-in-2023\/89-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/89.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"89.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/89.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/89.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-88835\" class=\"content-area-description single-story post-88835 post type-post status-publish format-standard has-post-thumbnail hentry category-around-the-world tag-around-the-world tag-electric-mobility tag-enterpriseclimate tag-evs tag-methane-emissions tag-usa 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\/12\/.95080d66-1903-40ed-994a-688c9971cc7f.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>US\u2019 largest oil field<\/strong><strong> cuts methane emissions:<\/strong> Methane emissions from the Permian Basin, America\u2019s largest oilfield, dropped by 26% in 2023, according to <a target=\"_blank\" href=\"https:\/\/www.spglobal.com\/content\/dam\/spglobal\/ci\/en\/documents\/news-research\/research\/turning-the-tide-upstream-permian-methane-emissions-drop-26-percent-in-2023-november-2024.pdf\" style=\"\" rel=\"noopener\">S&P Global's report (pdf)<\/a>. This reduction came as companies step up efforts to find and fix leaks following recent regulations from the Biden administration targeting methane, the <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/b097d8da-846e-4e23-a3a6-89d1a6ccc2fd\" style=\"\" rel=\"noopener\">Financial Times<\/a> reported.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Methane drop signals progress: <\/strong>In 2023, producers in the basin released 96 bn cubic feet of methane, down from 131 bn cubic feet in 2022. The efforts to cut emissions are seen as effective, driven by both regulatory pressure and industry incentives to make profit from captured methane by selling it instead of letting it escape into the atmosphere. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Challenges ahead, but methane progress likely to continue:<\/strong> While the progress is significant, there are concerns about setbacks under Trump. However, companies are still expected to continue with the efforts due to external pressurers, such as <a target=\"_blank\" href=\"https:\/\/energy.ec.europa.eu\/news\/new-eu-methane-regulation-reduce-harmful-emissions-fossil-fuels-europe-and-abroad-2024-05-27_en\" style=\"\" rel=\"noopener\">new EU rules<\/a> on methane emissions, and shareholder commitments, S&P analyst Kevin Birn told Financial Times.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>IN OTHER NEWS ACROSS THE POND- <\/strong><strong>US Republicans are after yet another climate investment group: <\/strong>The US\u2019 Republican-led Judiciary Committee is investigating around 60 US asset managers \u2014 including BlackRock, State Street, and JP Morgan Asset Management \u2014 for their involvement with the global <a target=\"_blank\" href=\"https:\/\/www.netzeroassetmanagers.org\/\" style=\"\" rel=\"noopener\">Net Zero Asset Managers (NZAM)<\/a> initiative, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/sustainability\/sustainable-finance-reporting\/us-house-committee-targets-another-investor-climate-group-2024-12-23\/\" style=\"\" rel=\"noopener\">Reuters<\/a> reports. In a letter sent to NZAM members, the committee asked the companies to disclose more information on their activities in the climate coalition, citing possible violations of antitrust law. NZAM has over 325 signatories and manages USD 57.5 tn. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- An anti-ESG movement is growing in the US:<\/strong> US corporations are facing mounting scrutiny from US Republicans who have harshly criticized companies they perceive as climate-friendly, accusing them of \u201ccolluding\u201d with climate advocacy groups and forming a \u201c <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/f182cd2c-50b8-4846-bd57-ae58783292e9\" style=\"\" rel=\"noopener\">climate cartel<\/a>.\u201d This week, Wells Fargo <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/c207ef2e-0181-4db7-ae64-f572d38a7d0b\/today:-masdar-closes-saeta-acquisition-%2B-dp-world-issues-mena%25e2%2580%2599s-first-blue-bond\" style=\"\" rel=\"noopener\">withdrew<\/a> from the Net-Zero Banking Alliance (NZBA) without giving reasons for the exit, just weeks after Goldman Sachs removed itself from the alliance. Last month, asset management giants BlackRock, Vanguard, and State Street were hit by an antitrust lawsuit filed by Texas and 10 other Republican-led states over their climate-related practices. You can read more about the impact in our <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/b46019be-ae7e-4b54-bba2-94e0cb539cc4\/new-deposits-in-esg-funds-plummeted-57%2525-y-o-y-in-2023,-here%25e2%2580%2599s-why\" style=\"\" rel=\"noopener\">deep dive<\/a> into ESG divestment.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Rwanda cracks down on motorbikes: <\/strong>Rwanda is planning to phase out the registration of gas-powered motorbikes \u2014 about 55% of the country\u2019s vehicles \u2014 through new rules set to start on 1 January, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-12-23\/rwanda-targets-ubiquitous-gasoline-bikes-in-green-energy-push?srnd=phx-green\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reported. The policy won\u2019t apply to existing bikes, but the government hopes to encourage the switch to e-bikes through its 2021 policy incentives \u2014 including consumer tax breaks and VAT cancelation for EVs and their spare parts \u2014 lowering the cost of purchasing EVs. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>E-bikes are booming: <\/strong>With a big motorbike market of more than 100k gas-powered bikes, e-bike companies like <a target=\"_blank\" href=\"https:\/\/www.ampersand.solar\/about\" style=\"\" rel=\"noopener\">Ampersand<\/a> and <a target=\"_blank\" href=\"https:\/\/www.spironet.com\/about-us\/our-impact\" style=\"\" rel=\"noopener\">Spiro<\/a> are expanding their e-fleets to meet the demand as more consumers shift to EVs. Spiro is planning to raise up to USD 100 mn investments over the next few months to grow its fleet from 1.3k bikes to 20k by 2025, its CEO Kaushik Burman told Bloomberg. Ampersand, with a fleet of 4k e-bikes, has raised USD 21.5 mn since 2023, and is preparing for another funding round to support its expansion. <\/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\/electric-mobility\/\">electric mobility<\/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\/methane-emissions\/\">methane emissions<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/usa\/\">USA<\/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=\"88837\" 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=\"88837\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">7<\/div>\r\n\r\n                    <p class=\"f-graphik\">CLIMATE IN THE NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/climate\/2024\/12\/24\/big-tech-places-bets-on-geothermal-energy-to-feed-ai-data-centers\/\">\r\n                            Big Tech places bets on geothermal energy to feed AI data centers                        <\/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\/12\/24\/big-tech-places-bets-on-geothermal-energy-to-feed-ai-data-centers\/\" 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\/12\/24\/big-tech-places-bets-on-geothermal-energy-to-feed-ai-data-centers\/')\">\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\/12\/24\/big-tech-places-bets-on-geothermal-energy-to-feed-ai-data-centers\/\">\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=Big Tech places bets on geothermal energy to feed AI data centers&url=https:\/\/enterpriseam.com\/climate\/2024\/12\/24\/big-tech-places-bets-on-geothermal-energy-to-feed-ai-data-centers\/\">\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\/12\/24\/big-tech-places-bets-on-geothermal-energy-to-feed-ai-data-centers\/&title=Big Tech places bets on geothermal energy to feed AI data centers\">\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=Big+Tech+places+bets+on+geothermal+energy+to+feed+AI+data+centers+https%3A%2F%2Fenterpriseam.com%2Fclimate%2F2024%2F12%2F24%2Fbig-tech-places-bets-on-geothermal-energy-to-feed-ai-data-centers%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\/12\/24\/big-tech-places-bets-on-geothermal-energy-to-feed-ai-data-centers\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/291.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"88838\" data-permalink=\"https:\/\/enterpriseam.com\/climate\/2024\/12\/24\/big-tech-places-bets-on-geothermal-energy-to-feed-ai-data-centers\/291-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/291.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"291.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/291.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/8\/291.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-88837\" class=\"content-area-description single-story post-88837 post type-post status-publish format-standard has-post-thumbnail hentry category-climate-in-the-news tag-ai tag-climate-in-the-news tag-enterpriseclimate tag-geothermal 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\/12\/.f23f93fa-a555-46bd-afd6-01989a7bd1d7.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Big Tech turns to geothermal for AI energy needs:<\/strong> Geothermal energy startups are gaining traction among Big Tech companies like <a target=\"_blank\" href=\"https:\/\/about.fb.com\/news\/2024\/08\/new-geothermal-energy-project-to-support-our-data-centers\/\" style=\"\" rel=\"noopener\">Meta<\/a> and <a target=\"_blank\" href=\"https:\/\/fervoenergy.com\/fervo-energy-announces-technology-breakthrough-in-next-generation-geothermal\/\" style=\"\" rel=\"noopener\">Google<\/a>, eager to power their energy-hungry AI data centers, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/technology\/artificial-intelligence\/ais-energy-hunger-fuels-geothermal-startups-natgas-rivalry-clouds-future-2024-12-19\/\" style=\"\" rel=\"noopener\">Reuters<\/a> reported last week. While the size of investments in the sector remains lower than needed \u2014 a USD 700 mn in financing since 2022, more than 60 startups have come to life in this time, the executive director of the industry association Geothermal Rising told Reuters. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The benefits: <\/strong>Unlike wind and solar energy\u2019s intermittent nature, geothermal provides consistent, reliable, carbon-free electricity. It also can scale faster than nuclear energy, given its dependence on the mature tech of oil and gas drilling. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The challenges: <\/strong>High upfront costs and slow approval processes are two major obstacles facing geothermal\u2019s uptake. Most of the movers are also small or medium-sized companies, with energy majors adopting more of a \u201cwait-and-watch\u201d approach while doubling down on natural gas, CEO of Sage Geosystems Cindy Taff told Reuters. <\/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\/ai\/\">AI<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/climate-in-the-news\/\">CLIMATE IN THE NEWS<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/geothermal\/\">GEOTHERMAL<\/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=\"88839\" 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\/12\/24\/88839\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-88839\" class=\"content-area-description single-story post-88839 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:1.1500000000000001;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:1.1500000000000001;orphans:2;widows:2;text-align:left\"><span>22-24 December (Sunday-Tuesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/rsegp-conference.com\/\" style=\"\">Renewable & Sustainable Energies And Green Processes Conference<\/a><\/span><span style=\"font-weight:400;\">, Sousse, Tunisia. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.1500000000000001;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">JANUARY 2025<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.1500000000000001;orphans:2;widows:2;text-align:left\"><span>12-15 January (Sunday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.wrenuk.co.uk\/\" style=\"\">World Renewable Energy Congress<\/a><\/span><span style=\"font-weight:400;\">, Manama, Bahrain.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.1500000000000001;orphans:2;widows:2;text-align:left\"><span>14-16 January (Tuesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.worldfutureenergysummit.com\/\" style=\"\">World Energy Summit<\/a><\/span><span style=\"font-weight:400;\">, Abu Dhabi, UAE. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.1500000000000001;orphans:2;widows:2;text-align:left\"><span>14-16 January (Wednesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.futuremineralsforum.com\/\" style=\"\">Future Minerals Forum<\/a><\/span><span style=\"font-weight:400;\">, Riyadh, Saudi Arabia. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.1500000000000001;orphans:2;widows:2;text-align:left\"><span>18-19 January (Saturday-Sunday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/libyasummit.com\/\" style=\"\">Libya Energy & Economic Summit<\/a><\/span><span style=\"font-weight:400;\">, Tripoli, Libya. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.1500000000000001;orphans:2;widows:2;text-align:left\"><span>28-29 January (Tuesday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/sustainmideast.com\/\" style=\"\">Sustainability Forum Middle East<\/a><\/span><span style=\"font-weight:400;\">, Manama, Bahrain.  <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.1500000000000001;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">FEBRUARY <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.1500000000000001;orphans:2;widows:2;text-align:left\"><span>17-19 February (Monday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.egypes.com\/\" style=\"\">Egypt Energy Show<\/a><\/span><span>, Cairo, Egypt. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.1500000000000001;orphans:2;widows:2;text-align:left\"><span>23-25 February (Sunday- Tuesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/gweccc.com\/\" style=\"\">Global Water Energy and Climate Change Congress<\/a><\/span><span style=\"font-weight:400;\">, Manama, Bahrain.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.1500000000000001;orphans:2;widows:2;text-align:left\"><span>24-26 February (Monday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.mena.gh2events.com\/\" style=\"\">Connecting Hydrogen MENA<\/a><\/span><span style=\"font-weight:400;\">, Dubai, UAE.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.1500000000000001;orphans:2;widows:2;text-align:left\"><span>24-27 February (Monday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.zawya.com\/en\/press-release\/events-and-conferences\/environment-authority-to-hold-inaugural-oman-climate-week-february-24-27-2025-uwf3f8c6\" style=\"\">Oman Climate Week<\/a><\/span><span style=\"font-weight:400;\">, Muscat, Oman. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.1500000000000001;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">APRIL  <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.1500000000000001;orphans:2;widows:2;text-align:left\"><span>7-9 April (Monday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.middleeast-energy.com\/en\/home.html\" style=\"\">Middle East Energy<\/a><\/span><span style=\"font-weight:400;\">, Dubai, UAE.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>10-12 April (Thursday-Saturday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/solarexistanbul.com\/en\/\" style=\"\">SolarEX Istanbul<\/a><\/span><span style=\"font-weight:400;\">, Istanbul, Turkey.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>14-15 April (Monday-Tuesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.karbonzirvesi.com\/\" style=\"\">Istanbul Carbon Summit<\/a><\/span><span style=\"font-weight:400;\">, Istanbul, Turkey.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>15-17 April (Tuesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.linkedin.com\/pulse\/5th-edition-international-conference-functional-cofmer-ahmed-rhallabi-qofee\/\" style=\"\">International Conference on Functional Materials and Renewable Energies (COFMER)<\/a><\/span><span style=\"font-weight:400;\">, Tangier, Morocco. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.1500000000000001;orphans:2;widows:2;text-align:left\"><span>21-23 April (Monday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/abudhabi.evinnovationsummit.com\/\" style=\"\">Electric Vehicle Innovation Summit (EVIS)<\/a><\/span><span style=\"font-weight:400;\">, Abu Dhabi, UAE.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.1500000000000001;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">MAY  <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.1500000000000001;orphans:2;widows:2;text-align:left\"><span>7-9 May (Wednesday-Friday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.irenec.org\/eng\/\" style=\"\">International Renewable Energy Conference (IRENEC)<\/a><\/span><span style=\"font-weight:400;\">, Istanbul, Turkey. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.1500000000000001;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">JUNE <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.1500000000000001;orphans:2;widows:2;text-align:left\"><span>17-20 June (Tuesday-Friday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.tap.info.tn\/en\/Portal-Economy\/17936683-tunis-to-host\" style=\"\">Mediterranean Water, Irrigation and Photovoltaic Exhibition<\/a><\/span><span style=\"font-weight:400;\">, Tunisia. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.1500000000000001;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">OCTOBER<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>20-21 October (Monday-Tuesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/retrofittechksa.com\/\" style=\"\">Sustainable Buildings and RetrofitTech Saudi Summit<\/a><\/span><span>, Riyadh, KSA<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.1500000000000001;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">NOVEMBER<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>25-26 November (Tuesday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"http:\/\/www.retrofittechbahrain.com\/\" style=\"\">Sustainable Buildings and RetrofitTech Bahrain Summit<\/a><\/span><span style=\"font-weight:400;\">, Manama, Bahrain.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.1500000000000001;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:1.1500000000000001;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">2024 <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.1500000000000001;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:1.1500000000000001;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:1.1500000000000001;orphans:2;widows:2;text-align:left\"><span>November: <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.almamlakatv.com\/news\/142146-%D9%85%D9%86%D8%AA%D8%AF%D9%88%D9%86-%D9%8A%D9%88%D8%B5%D9%88%D9%86-%D8%A8%D8%AA%D9%88%D9%81%D9%8A%D8%B1-20-%D8%A3%D9%84%D9%81-%D9%81%D8%B1%D8%B5%D8%A9-%D8%B9%D9%85%D9%84-%D8%AC%D8%AF%D9%8A%D8%AF%D8%A9-%D8%A8%D9%82%D8%B7%D8%A7%D8%B9-%D8%A7%D9%84%D8%B7%D8%A7%D9%82%D8%A9-%D8%A7%D9%84%D8%AD%D9%8A%D9%88%D9%8A%D8%A9-%D9%81%D9%8A-%D8%A7%D9%84%D8%AF%D9%88%D9%84-%D8%A7%D9%84%D8%B9%D8%B1%D8%A8%D9%8A%D8%A9\" style=\"\">Arab Forum for Renewable Energy and Energy Efficiency<\/a><\/span><span style=\"font-weight:400;\">, Amman, Jordan.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.1500000000000001;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">2025 <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.1500000000000001;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:1.1500000000000001;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:1.1500000000000001;orphans:2;widows:2;text-align:left\"><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.zawya.com\/en\/press-release\/companies-news\/expo-sharjah-signs-partnership-agreement-to-launch-the-middle-east-electric-vehicle-show-2025-htkk34ud\" style=\"\">Middle East Electric Vehicle Show<\/a><\/span><span style=\"font-weight:400;\">, Sharjah, UAE. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.1500000000000001;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">2026 <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.1500000000000001;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:1.1500000000000001;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:1.1500000000000001;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:1.1500000000000001;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:1.1500000000000001;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:1.1500000000000001;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">2027<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.1500000000000001;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:1.1500000000000001;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:1.1500000000000001;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">2030 <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.1500000000000001;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:1.1500000000000001;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:1.1500000000000001;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:1.1500000000000001;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:1.1500000000000001;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:1.1500000000000001;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">2035 <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.1500000000000001;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:1.1500000000000001;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">2045 <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.1500000000000001;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:1.1500000000000001;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">2050<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.1500000000000001;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:1.1500000000000001;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">2060 <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.1500000000000001;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>Fresh financing for Acwa + HAU mega wind farm | Saudi may get a new e-SAF plant by 2029 | Amea Power updates from Egypt + Morocco<\/p>\n","protected":false},"featured_media":88822,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-88821","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"381c691e-a3f5-4669-ba36-20372550f5b7","teaser":"Fresh financing for Acwa + HAU mega wind farm | Saudi may get a new e-SAF plant by 2029 | Amea Power updates from Egypt + Morocco","photo_url":"https:\/\/ent.news\/2024\/7\/1094.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>EBRD greenlights USD 275 mn loan for Acwa + HAU mega wind farm - 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\/ebrd-greenlights-usd-275-mn-loan-for-acwa-hau-mega-wind-farm\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"EBRD greenlights USD 275 mn loan for Acwa + HAU mega wind farm\" \/>\n<meta property=\"og:description\" content=\"Fresh financing for Acwa + HAU mega wind farm | Saudi may get a new e-SAF plant by 2029 | 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