{"id":75626,"date":"2023-01-18T02:00:19","date_gmt":"2023-01-18T02:00:19","guid":{"rendered":"https:\/\/enterpriseam.com\/climate\/2023\/01\/18\/today-uaes-amea-power-expands-in-west-africa-adnoc-inks-several-partnerships-on-decarbonization\/"},"modified":"2023-01-18T02:00:19","modified_gmt":"2023-01-18T02:00:19","slug":"today-uaes-amea-power-expands-in-west-africa-adnoc-inks-several-partnerships-on-decarbonization","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/climate\/2023\/01\/18\/today-uaes-amea-power-expands-in-west-africa-adnoc-inks-several-partnerships-on-decarbonization\/","title":{"rendered":"TODAY: UAE\u2019s Amea Power expands in West Africa + Adnoc inks several partnerships on decarbonization"},"content":{"rendered":"<p><strong>Good morning, wonderful people. <\/strong>The weekend is within our sights, but the regional news shows no signs of slowing down.<\/p>\n<p><strong>THE BIG CLIMATE STORY- <\/strong>UAE\u2019s Amea Power is expanding its West African portfolio with a new 50 MW solar plant in the Ivory Coast, and Adnoc has teamed up with several international players to launch decarbonization partnerships. Over in Morocco, a factory for the production of solar-powered water heaters broke ground in a bid to curb imports and pave the way for carbon neutrality.<\/p>\n<p><strong>^^ We have chapter and verse on these stories and more in the news well, below. <\/strong><\/p>\n<p><strong>THE BIG CLIMATE STORY OUTSIDE THE REGION- The EU is preparing its own set <\/strong><strong>of green incentives to rival Biden\u2019s Inflation Reduction Act (IRA) and stop businesses moving to the US. <\/strong>The European Commission (EC) \u2014 the EU\u2019s executive arm \u2014 is drafting a new law that will focus on boosting investment in green industry in Europe, EC President Ursula von der Leyen said at Davos yesterday. The new legislation will be complemented by state aid and a European Sovereignty Fund, von der Leyen added. This is all designed to make Europe a more competitive place for green industry, especially in light of US President <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/3907e1bd-299f-46ad-8f42-7d0fead9dcc7\">Joe Biden\u2019s IRA<\/a>, which is set to heavily subsidize US-made products in a bid to boost renewable energy and address the climate crisis. <strong>The story is seeing widespread coverage:<\/strong> <a href=\"https:\/\/www.reuters.com\/business\/sustainable-business\/davos-iea-director-says-inflation-reduction-act-is-new-climate-accord-2023-01-17\/\">Reuters<\/a> | <a href=\"https:\/\/www.ft.com\/content\/4177cec6-7f93-41da-aa1e-028afb7601f8\">Financial Times<\/a> | <a href=\"https:\/\/www.wsj.com\/articles\/eu-readies-subsidy-response-to-u-s-clean-tech-tax-breaks-11673953217\">Wall Street Journal<\/a> | <a href=\"https:\/\/www.rte.ie\/news\/world\/2023\/0117\/1349112-world-economic-forum-davos\/\">RTE<\/a> | <a href=\"https:\/\/www.cnbc.com\/2023\/01\/17\/davos-2023-eu-announces-new-green-proposals-to-rival-bidens-ira.html\">CNBC<\/a> | <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-01-17\/von-der-leyen-says-eu-must-boost-clean-tech-funds-to-counter-us\">Bloomberg<\/a><\/p>\n<p><strong>And a<\/strong><strong>t Davos,<\/strong> <strong>Kerry calls for \u201cmoney, money, money\u201d to keep 1.5\u00b0C target <\/strong><strong>alive:<\/strong> US climate envoy John Kerry issued a stark warning at Davos yesterday that the world seemed unlikely to transition to a low-carbon economy in time to \u201cavoid the worst consequences of the [climate] crisis,\u201d with dire repercussions for mns of people all over the world. To fulfill emissions-slashing promises and preserve any hope of sticking to the 1.5\u00b0C target \u2014 which Kerry maintained the US is committed to \u2014 money is essential, he added. <strong>The story is being widely picked up:<\/strong> <a href=\"https:\/\/www.reuters.com\/business\/environment\/davos-2023us-envoy-kerry-says-time-is-running-out-money-needed-tackle-climate-2023-01-17\/\">Reuters<\/a> | <a href=\"https:\/\/www.wsj.com\/livecoverage\/davos2023\/card\/u-s-climate-envoy-john-kerry-stands-by-1-5-degree-climate-goal-a7TkQkXwcmkQAc4xcPwY\">Wall Street Journal<\/a> | <a href=\"https:\/\/www.cnbc.com\/2023\/01\/17\/shift-to-low-carbon-economy-will-happen-but-too-late-john-kerry.html\">CNBC<\/a><\/p>\n<hr class=\"grey-line\">\n<p><strong>SIGN OF THE TIMES- Is the generational gap around sustainability closing?<\/strong> While past studies have centered around younger generations of investors being more concerned about sustainability and climate change when it comes to making investment decisions, a recent <a href=\"https:\/\/www.investcorp.com\/investcorps-imd-global-survey-finds-digitization-ai-and-renewable-energy-as-the-dominant-megatrends-for-the-next-30-years\/\">Investcorp<\/a><a href=\"https:\/\/www.investcorp.com\/investcorps-imd-global-survey-finds-digitization-ai-and-renewable-energy-as-the-dominant-megatrends-for-the-next-30-years\/\">survey<\/a> has proven otherwise. The survey polled global institutional investors and found that both senior and junior investment professionals use concerns about the future of the planet when making investment decisions. The survey found that renewables, energy security, and EV and battery storage ranked high as top trends in investment for both junior and senior investment professionals.<\/p>\n<p><strong>WATCH THIS SPACE #1<\/strong><strong>- Kuwait\u2019s renewable energy ministry is getting a <\/strong><strong>makeover:<\/strong> The Kuwaiti cabinet has approved a plan to transform the Electricity, Water, and Renewable Energy Ministry into an institution with the authority to establish government affiliated companies within the sectors, <a href=\"https:\/\/timeskuwait.com\/news\/council-of-ministers-approves-plan-of-mew-and-renewable-energy-to-transform-it-into-institution\/\">Times of Kuwait<\/a> reports. The study still needs another round of approvals required by the country\u2019s Central Agency for Public Tenders for the inclusion of third party foreign consultants to conduct feasibility studies.<\/p>\n<p><strong>WATCH THIS SPACE #2- Renewables drive FDI surge in KSA:<\/strong> Saudi Arabia is expected to surpass the UAE in the amount of FDI this year for the first time since 2012, <a href=\"https:\/\/www.arabnews.com\/node\/2233446\/business-economy\">Arab News<\/a> reports. Megaprojects like NEOM and others in the renewables sector are a key driver. KSA\u2019s top seven infrastructure projects \u2014 which also include sustainability initiatives like the Red Sea Project and Diriyah Gate \u2014 will collectively cost USD 690 bn to construct, the outlet added.<\/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\">\n          Get <b style=\"font-weight: 700\">Enterprise<\/b> daily<br \/>\n        <\/h4>\n<\/p><\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>     <a href=\"climate\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\">Subscribe here<\/a>\n    <\/div>\n<\/p><\/div>\n<\/div>\n<p><p>***<\/p>\n<p><strong>YOU\u2019RE READING ENTERPRISE CLIMATE, the essential MENA publication for senior execs who care about the world\u2019s most important industry. <\/strong>We\u2019re out Monday through Thursday at 4am Cairo \/ 5am Riyadh \/ 6am UAE.<\/p>\n<p>Were you forwarded this email? <strong>Get your own <\/strong><strong><a href=\"https:\/\/climate.enterprise.press\/subscribe\/\">subscription without charge here<\/a><\/strong> or reach out to us on <a href=\"mailto:climate@enterprisemea.com\">climate@enterprisemea.com<\/a> with comments, suggestions and story tips.<\/p>\n<p><strong>***<\/strong><\/p>\n<p><strong>CIRCLE YOUR CALENDAR- <\/strong><\/p>\n<p><strong>Bahrain will host the <\/strong><strong><a href=\"https:\/\/europetro.com\/esfmena\">Energy & Sustainability Forum<\/a><\/strong> from next Sunday, 22 January to Tuesday, 24 January in Manama. The forum will host panel discussions on how to decarbonize the downstream industry and how to pave the way for regional net zero objectives.<\/p>\n<p><strong><a href=\"https:\/\/enterprise.press\/am-edition\/#calendar\">Check out our full calendar on the web<\/a><\/strong> for a comprehensive listing of upcoming news events, national holidays and news triggers.<\/p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Good morning, wonderful people. The weekend is within our sights, but the regional news shows no signs of slowing down. THE BIG CLIMATE STORY- UAE\u2019s Amea Power is expanding its West African portfolio with a new 50 MW solar plant in the Ivory Coast, and Adnoc has teamed up with several international players to launch [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":75627,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[44],"tags":[11,173,625,108,45,159,52,43],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-75626","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-what-were-tracking-today","tag-enterpriseclimate","tag-eu","tag-joe-biden","tag-kuwait","tag-morocco","tag-saudi-arabia","tag-uae","tag-what-were-tracking-today","wpautop","entry"],"acf":{"mongo_id":"7bcf1a73-8466-46a3-af29-78ff056e7baf","order":"0","is_powered_by":true,"story_type":"4","photo_url":"https:\/\/ent.news\/2022\/11\/6189.jpg","photo_position":"above","related_issue":[75624],"teaser":"","voice_url":""},"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>TODAY: UAE\u2019s Amea Power expands in West Africa + Adnoc inks several partnerships on decarbonization - 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\/2023\/01\/18\/today-uaes-amea-power-expands-in-west-africa-adnoc-inks-several-partnerships-on-decarbonization\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"TODAY: UAE\u2019s Amea Power expands in West Africa + Adnoc inks several partnerships on decarbonization\" \/>\n<meta property=\"og:description\" content=\"Good morning, wonderful people. The weekend is within our sights, but the regional news shows no signs of slowing down. 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