{"id":76176,"date":"2023-02-23T01:51:54","date_gmt":"2023-02-23T01:51:54","guid":{"rendered":"https:\/\/enterpriseam.com\/climate\/2023\/02\/23\/today-empower-inks-district-cooling-agreement-with-dubai-maritime-city\/"},"modified":"2023-02-23T01:51:54","modified_gmt":"2023-02-23T01:51:54","slug":"today-empower-inks-district-cooling-agreement-with-dubai-maritime-city","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/climate\/2023\/02\/23\/today-empower-inks-district-cooling-agreement-with-dubai-maritime-city\/","title":{"rendered":"TODAY: Empower inks district cooling agreement with Dubai Maritime City"},"content":{"rendered":"

Good morning, wonderful people. <\/strong>We\u2019re experiencing an end-of-week slowdown as we roll into the weekend.<\/p>\n

THE BIG CLIMATE STORY- <\/strong>Emirates Central Cooling Systems (Empower) has signed an agreement to provide district cooling services to Dubai Maritime City (DMC). The firm will invest<\/p>\n

AED 450 mn (USD 122 mn) to construct two plants that will provide more than 63k refrigeration tons (RT) of cooling capacity at the maritime zone. We have chapter and verse on this story and more in the news well below.<\/strong><\/p>\n

THE BIG CLIMATE STORY OUTSIDE THE REGION- <\/strong><\/p>\n

There\u2019s no single story dominating the climate headlines this morning<\/strong>, but the western press is focusing heavily on the severe coast-to-coast winter storm currently battering the US. Tens of mns of Americans across 29 states are struggling with severe icing, extreme cold and sleet falls along with suspended international flights and power outages across several states. (Bloomberg<\/a> | CNN<\/a> | CNBC<\/a> | BBC<\/a> | The Guardian<\/a> | The New York Times<\/a> | The Washington Post<\/a> | USA Today<\/a> | Associated Press<\/a> | WSJ<\/a>)<\/p>\n

\n

HAPPENING TODAY- <\/strong>The <\/strong>International Conference on Sustainable Finance and Green<\/a><\/strong>Fintech<\/a><\/strong> kicks off in Abu Dhabi.<\/strong> The event will bring together academics, policymakers, and regulators to evaluate current issues shaping the broad financial services sector, focusing on sustainable finance and Green Fintech. Researchers participating in the conference had the opportunity to submit their papers last year to be discussed during the conference, with a chance to be published in an academic journal. You can find more details on the agenda here<\/a>.<\/p>\n

\n

<\/a> OVER<\/strong> IN COP LAND- Al Jabar sets the scene for COP28\u2019s priorities: <\/strong>COP28 President Sultan Al Jaber laid out<\/a> some key mitigation and adaptation priorities set to inform November\u2019s discussions in a speech yesterday at the World Sustainable Development Summit<\/a>. Mitigation priorities include tripling renewable energy capacity, doubling hydrogen production, increasing nuclear power, improving battery storage, and growing the scale and efficiency of carbon capture. Food and water will also be COP28 priorities through examining how to reduce emissions in food systems and focusing on agri-tech and sustainable water use, he said.<\/p>\n

Doubling down on adaptation finance: <\/strong>COP28 \u201cmust conclude\u201d the Global Goal on Adaptation (GGA) and finalize an agreement on doubling adaptation finance, Al Jaber emphasized. Established through the 2015 Paris Agreement, the GGA was designed<\/a> to raise awareness of the importance of adaptation, so it would be viewed with similar urgency to mitigation. Adaptation priorities also include protecting biodiversity and nature-based solutions, Al Jaber added.<\/p>\n

<\/a> The UAE-India renewables partnership is real: <\/strong>The UAE will explore \u201call opportunities\u201d to partner with India to help develop the country\u2019s low carbon infrastructure, Reuters<\/a> quotes Al Jaber as saying. Al Jaber pointed to India\u2019s goal of bringing 500 GW of renewable energy online within the next seven years as a \u201ca powerful statement of intent,\u201d the newswire reports.<\/p>\n

\n

<\/a> WATCH THIS SPACE #1- Acwa Power, Indonesia will work on green hydrogen production:<\/strong> Tadawul-listed Acwa Power and state-owned fertilizers company Pupuk Indonesia have inked an agreement to develop a giga-scale green hydrogen project, Zawya<\/a> reports. No further details regarding the location of the plant, or the timeline or financial details of the project have been provided.<\/p>\n

WATCH THIS SPACE #2- Egypt wants to strengthen solar energy production with <\/strong>help from Invest India and and the International Solar Alliance:<\/strong> Egypt\u2019s General Authority for Investment and Free Zones (GAFI) CEO Hossam Heiba met with Invest India<\/a> and the International Solar Alliance<\/a> to discuss avenues to boost its solar energy generation as part of Egypt\u2019s participation in the Solar X Grand Challenge<\/a>, according to a statement<\/a>. Launched during COP27, the initiative aims to increase solar energy deployment across Africa by upskilling and drumming up investments for the continent\u2019s solar energy-focused startup sector.<\/p>\n

Targets:<\/strong> Solar X will provide USD 15k in funding for 20 select startups, offer capacity building programs, and connect startups with global investors to help boost scalability. Interested companies can apply here<\/a><\/strong> before the March 31 closing date.<\/p>\n

<\/a> WATCH THIS SPACE #3- The global solar industry has seen \u201cunprecedented\u201d <\/strong>price volatility recently driven by intense competition to secure profits<\/strong>, Bloomberg<\/a> reports. While overall demand for solar power remains unaffected \u2014 and seems on track to continue growing at a record rate \u2014 solar giants have been adjusting their pricing strategies as they attempt to secure their profit margins and market share, the business information service adds. Top wafer manufacturers LONGi<\/a> and TCL<\/a> raised their prices by some 20% in the last few weeks, while top cell maker Tongwei<\/a> hiked its prices by around 8.5%, it noted.<\/p>\n

Polysilicon price fluctuations illustrate the volatility:<\/strong> The addition of new manufacturing plants late last year drove down the prices of polysilicon \u2014 the core material in solar panels \u2014 leading major producers to attempt to support prices in recent weeks by reducing sales, Bloomberg noted. Prices plummeted more than 40% over several weeks, starting December, and have since been hiked by over 50% in under a month, the outlet added.<\/p>\n

This could be ongoing:<\/strong> \u201cVolatility is expected to continue in coming months as polysilicon producers and their clients who manufacture wafers compete to gain advantage in a declining price environment,\u201d Bloomberg quotes Wood Mackenzie research director Alex Whitworth saying.<\/p>\n

\n
\n
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The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n

Subscribe here<\/a>\n <\/div>\n<\/p><\/div>\n<\/div>\n

***<\/p>\n

YOU\u2019RE READING ENTERPRISE CLIMATE, the essential regional publication for senior execs who care about the world\u2019s most important industry. <\/strong>Enterprise Climate covers everything from finance and tech to regulation, products and policy across the Middle East and North Africa. In a nod to the growing geographical ambitions of companies in our corner of the world, we also include an overview of the big trends and data points in nearby countries, including Africa and southern Europe.<\/p>\n

Enterprise Climate is published at 4am CLT \/ 5am Riyadh \/ 6am UAE Monday through Thursday by Enterprise<\/strong>, the folks who bring you Enterprise Egypt, your essential 6am and 3pm read on business, finance, policy and economy in Egypt and emerging markets.<\/p>\n

Subscribe to Enterprise Climate here<\/a><\/strong> or reach out to us on climate@enterprisemea.com<\/a> with comments, suggestions and story tips.<\/p>\n

***<\/strong><\/p>\n

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

\"enterprise\"<\/p>\n

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

Interested to learn more about how Egypt is planning on drumming up foreign direct investment (FDI) for all these green hydrogen, solar and wind agreements? <\/strong>Exports and FDI have never been more important to Egypt\u2019s economy \u2014 or its businesses \u2014 than in the wake of the float of the EGP and the country\u2019s positioning as a regional renewable energy hub. We think there\u2019s a unique chance to build an export-led economy<\/a> that makes Egypt a magnet for FDI and all the benefits that will come with it.<\/p>\n

Want to join the conversation?<\/strong> Drop us a line on events@enterprisemea.com<\/a>.<\/p>\n

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

The UAE will host the <\/strong>Annual Gulf Ins. Forum<\/a><\/strong> from Monday, 27 February to <\/strong>Tuesday, 28 February<\/strong> in Dubai. The event will host panel discussions on sustainable ins. for ESG, the role of Gulf ins. companies in securing renewables, the future of ins. for Autonomous Vehicles (AVs), ins. solutions to address climate change and environmental pollution, and the banking sector\u2019s experience in issuing green and sustainability bonds. You can register for the event here<\/a><\/strong>.<\/p>\n

Qatar will host the <\/strong>International Conference on Climate Change and Human Rights<\/a><\/strong> from Tuesday, 21 February to Wednesday, 22 February <\/strong>in Doha. The conference will gather over 300 participants from governments, think tanks, universities, and human rights institutions to discuss and present climate mitigation and adaptation policies from a human rights perspective.<\/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

Qatar will host the <\/strong>Earthna Summit<\/a><\/strong> from 8-9 March <\/strong>in Doha. The event will bring together industry leaders and policymakers to explore tailored solutions for the energy transition in hot climates. You can register for the event here<\/a>.<\/p>\n

The <\/strong>Arabia CSR Awards<\/a><\/strong> is accepting applications until Friday, 30 June.<\/strong> The award winners 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>\n","protected":false},"excerpt":{"rendered":"

Good morning, wonderful people. We\u2019re experiencing an end-of-week slowdown as we roll into the weekend. THE BIG CLIMATE STORY- Emirates Central Cooling Systems (Empower) has signed an agreement to provide district cooling services to Dubai Maritime City (DMC). 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