{"id":75876,"date":"2023-02-06T02:00:30","date_gmt":"2023-02-06T02:00:30","guid":{"rendered":"https:\/\/enterpriseam.com\/climate\/2023\/02\/06\/today-ksas-neom-green-hydrogen-plant-gets-operating-licenses-mexico-wants-to-be-an-ev-production-hub\/"},"modified":"2023-02-06T02:00:30","modified_gmt":"2023-02-06T02:00:30","slug":"today-ksas-neom-green-hydrogen-plant-gets-operating-licenses-mexico-wants-to-be-an-ev-production-hub","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/climate\/2023\/02\/06\/today-ksas-neom-green-hydrogen-plant-gets-operating-licenses-mexico-wants-to-be-an-ev-production-hub\/","title":{"rendered":"TODAY: KSA\u2019s Neom green hydrogen plant gets operating licenses + Mexico wants to be an EV production hub"},"content":{"rendered":"

Good morning, nice people.<\/strong> We have a brisk issue to kick off this week, with lots happening in the green hydrogen and climate diplomacy spaces.<\/p>\n

THE BIG CLIMATE STORY- <\/strong>What will be the world\u2019s largest green hydrogen facility is now one step closer to becoming reality, after Saudi authorities issued operating licenses for the joint venture that will develop a 1.2 mn-ton green hydrogen facility in the kingdom\u2019s Neom. Oman is also stepping up its green hydrogen game, with the country signing a handful of agreements with Saudi to partner on green hydrogen and renewables projects.<\/p>\n

^^We have these stories and more in the news well below.<\/strong><\/p>\n

<\/a> THE BIG CLIMATE STORY OUTSIDE THE REGION- Mexico is capitalizing on its<\/strong> advantages over the US to become an EV manufacturing hub<\/strong>, with some of the world\u2019s biggest carmakers reportedly eyeing EV production in the country. BMW announced it\u2019s investing EUR 800 mn to ready an existing car plant in Mexico for EV production and construct a battery assembly center there, while Tesla is reportedly looking at setting up a Mexican plant as well. Audi, General Motors, and Fiat Chrysler are also said to have expressed interest. Amid heated debates<\/a> between the US and EU over the impact of President Joe Biden\u2019s Inflation Reduction Act<\/a>\u2019s subsidies to support EV manufacture in the US, Mexico has notable advantages \u2014 including existing infrastructure and expertise, several stakeholders have noted recently. Crucially, there\u2019s a much lower fiscal burden for the export sector compared to the US, Foreign Minister Marcelo Ebrard said.<\/p>\n

The story is attracting coverage in the international press:<\/strong> Reuters<\/a> | Financial Times<\/a> | Reuters<\/a> | CNBC<\/a> | Bloomberg<\/a> | Economist (listen, runtime: 24:00)<\/a><\/p>\n

\n

<\/a> WATCH THIS SPACE #1- Renewables\u2019 share of most Middle Eastern countries\u2019 energy<\/strong> mix will double<\/strong> or triple by the end of the decade<\/strong>, Saudi Association of Energy Economics (SAEE) Chairman Majeed Al Moneef told Arab News<\/a>. The catch?<\/strong> Investing in renewable energy will happen alongside investments in oil and gas, Al Moneef said, noting that the Middle East will be at \u201cthe forefront of both\u201d sectors.<\/p>\n

REMEMBER- <\/strong>MENA oil and gas giants \u2014 including the UAE, Saudi Arabia, Kuwait, Bahrain, and Qatar \u2014 have been under fire<\/a> as of late for their continued investments in the heavy-emissions industries. The UAE was most recently put under the microscope<\/a> for its high per capita emissions as it gears up to host the COP28 summit this year.<\/p>\n

WATCH THIS SPACE #2- South Korea\u2019s Kepco wants to construct four nuclear reactors<\/strong> with a combined capacity of 1.4 GW worth USD 32.5 bn for Turkey<\/strong>, South Korean news agency Yonhap<\/a> reported last week. Kepco submitted a proposal for the reactors following talks with Turkey in December, as Ankara plans<\/a> to expand its national nuclear capacity to 7.2 GW by 2035. The location and timeline of the project have yet to be revealed.<\/p>\n

KEPCO also has a presence in the GCC: <\/strong>The company is among five South Korean firms that signed a USD 6.5 bn agreement with Saudi Arabia\u2019s Public Investment Fund (PIF) in November to build a hydrogen and ammonia plant<\/a>. The firm was also awarded the contract to build the UAE\u2019s Barakah nuclear power plant \u2014 which recently approved its operational blueprint for 2023-2026<\/a> \u2014 back in 2009<\/a>.<\/p>\n

WATCH THIS SPACE #3- Masdar is looking to ramp up investments in Africa with new<\/strong> renewables projects in Nigeria<\/strong>, as part of its plans to develop a combined 20 GW of renewables capacity in Africa by 2035, The Guardian Nigeria<\/a> reported last week. The UAE renewables giant previously signed three contracts as part of Etihad 7<\/a> \u2014 an initiative aiming to attract public and private funding to invest in Africa\u2019s renewable energy sector over the next 12 years. Last month, Masdar signed agreements with Ethiopia and Zambia<\/a> with a total capacity of 2 GW per country.<\/p>\n

SIGN OF THE TIMES- Hasta la vista, Boeing 747: <\/strong>Boeing delivered its final 747 jumbo jet last week and has committed to leading with sustainability, according to a statement<\/a>. Increasing awareness about the industry\u2019s polluting effects over the last few years has prompted airlines and airplane manufacturers to look for more fuel-efficient aircrafts<\/a> and the covid pandemic further put pressure on the company to decommission<\/a> the four-engine aircraft and seek more lucrative models.<\/p>\n

\n

PSA #1- Egypt-based startups working on clean energy, agritech, or resource efficiency<\/strong> can now apply to startup accelerator <\/strong>ChangeLabs<\/a><\/strong>\u2019 <\/strong>Scale up to Green acceleration program.<\/strong> ChangeLabs is partnering on the program with the Dutch Entrepreneurial Development Bank (FMO), Netherlands-based NPO Hivos<\/a>, and Amazon\u2019s AWS Activate<\/a>, it said in a post on LinkedIn<\/a>. Startups at a post-revenue stage can apply for the three-month mentorship program here<\/a><\/strong>.<\/p>\n

PSA #2- Morocco launches call for projects to enhance the sustainability of industrial<\/strong> zones: <\/strong>Morocco\u2019s Industry and Trade Ministry and the Millennium Challenge Account-Morocco Agency (MCA-Morocco<\/a>) launched a call for projects<\/a> designed to boost the sustainability of industrial zones, according to a government statement<\/a>. MCA-Morocco is an institution implementing a US-Morocco cooperation program aiming to improve land productivity by rehabilitating industrial zones to improve their \u201cenvironmental and social performance.\u201d Selected projects will receive funding from the MAD 150 mn (USD 14.6 mn) Fonzid II fund, set up as part of the MCA-Morocco program. Morocco-based public and private firms working in the field of industrial zones can apply through Fonzid\u2019s website<\/a>.<\/p>\n

\n
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\n 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

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\n

COME TO OUR NEXT ENTERPRISE FORUM- <\/strong><\/p>\n

enterprise<\/p>\n

We\u2019re excited to unveil our next C-level event: <\/strong>The Enterprise FDI + Exports Forum, where we will take a deep dive into two of the most critical topics affecting our community.<\/p>\n

Exports and foreign direct investment (FDI) have never been more important to our economy<\/strong> \u2014 or our businesses \u2014 than in the wake of the float of the EGP. We think we have a once-in-a-lifetime chance to build an export-led economy<\/a> that makes us a magnet for FDI and all the benefits that will come with it for our nation.<\/p>\n

Want to partner with us <\/strong>on the<\/strong> conference?<\/strong> Ping a note to Moustafa Taalab, our head of commercial, here<\/a>.<\/p>\n

HAPPENING TODAY-<\/strong> The first <\/strong>International Conference on Earth Sciences and<\/a><\/strong>Energy Transition<\/a><\/strong> is kicking off this morning<\/strong> in Muscat<\/strong>, and is running until Friday, 10 February. The conference is set to bring together 162 participants from 26 countries to exchange research about low-to-zero carbon energy and discuss trends and challenges in the field of earth sciences, according to the Oman News Agency<\/a>.<\/p>\n

CIRCLE YOUR CALENDAR- <\/strong><\/p>\n

Egypt will host the <\/strong>CSR Forum<\/a><\/strong> from 2-5 March<\/strong> at Somabay, Hurghada. The event aims to further discussions put forth during COP27 and boost private and public sector cooperation on climate action. You can register for the event here<\/a><\/strong>.<\/p>\n

The <\/strong>Arabia CSR Awards<\/a><\/strong> is accepting applications until Friday, 30 June.<\/strong> The awardwinners will be announced during a ceremony on Wednesday, 4 October.<\/p>\n

The first <\/strong>MENA Solar Conference<\/a><\/strong> is accepting applications from published<\/strong> researchers specialized in PV technology until Sunday, 30 April.<\/strong> The Dubai Electricity and Water Authority will be hosting the conference from 15 to 18 November, in conjunction with the Water, Energy, Technology, and Environment Exhibition and the Dubai Solar Show 2023. Researchers can submit their papers here<\/a>.<\/p>\n

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":"

Good morning, nice people. We have a brisk issue to kick off this week, with lots happening in the green hydrogen and climate diplomacy spaces. 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