{"id":80703,"date":"2023-11-20T00:00:00","date_gmt":"2023-11-20T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/climate\/2023\/11\/20\/hydrogen-train-fueling-stations-and-ev-charging-points-for-morocco-and-saudi-maaden-partners-with-fleet-on-mining-explorations\/"},"modified":"2023-11-20T00:00:00","modified_gmt":"2023-11-20T00:00:00","slug":"hydrogen-train-fueling-stations-and-ev-charging-points-for-morocco-and-saudi-maaden-partners-with-fleet-on-mining-explorations","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/climate\/2023\/11\/20\/hydrogen-train-fueling-stations-and-ev-charging-points-for-morocco-and-saudi-maaden-partners-with-fleet-on-mining-explorations\/","title":{"rendered":"Hydrogen train fueling stations and EV charging points for Morocco and Saudi + Ma\u2019aden partners with Fleet on mining explorations"},"content":{"rendered":"

HYDROGEN<\/strong>-<\/strong><\/p>\n

<\/strong>Air Products Qudra to build hydrogen train fueling stations in <\/strong>KSA<\/strong>:<\/strong> Saudi Arabia Railways (SAR) has signed an MoU with Air Products Qudra<\/a> to build, own, and operate (BOO) hydrogen fueling stations for trains in the kingdom, according to a statement<\/a> released on Thursday. SAR had recently received a trial operating license<\/a> from the Saudi Transport General Authority for a hydrogen train. The train will operate without emitting carbon, according to the news outlet.<\/p>\n

GREEN FINANCE-<\/strong><\/p>\n

UAE\u2019s Mashreq extends green loan to Galadari Brothers:<\/strong> UAE banking group Mashreq has extended a green loan facility to Emirati investment management firm Galadari Brothers in a bid to help decarbonize the company\u2019s operations, according to a statement<\/a> released on Thursday. The size of the credit line was not disclosed. The firm\u2019s debut green loan will help finance the adoption of green energy retrofits and energy efficient technologies at its five-star Galadari Hotel<\/a> in Sri Lanka. Mashreq said last year it is targeting an increase in its sustainable financing capacity to USD 30 bn by 2030<\/a>.<\/p>\n

ELECTRIC VEHICLES-<\/strong><\/p>\n

Eaton <\/strong>launches Morocco\u2019s first locally made EV charging stations:<\/strong> American-Irish power management company Eaton has launched the first locally manufactured EV charging station in partnership with UK-based EV company Green Motion, Morocco World News<\/a> reported last week. The new charging station \u2014 with adjustable power from 3.7 kW to 22 kW \u2014 takes less than 20 minutes to install and start operating, the company said.<\/p>\n

The kingdom has big EV plans:<\/strong>Morocco has transformed itself into a regional automotive powerhouse<\/a> through smart incentives and consistent government policy, and it is now a key exporter to Europe as well as to other MENA countries, including Egypt. Morocco's investment fund Al Mada partnered with Chinese battery giant CNGR Advanced Material Company in September to build a MAD 20 bn (USD 2 bn) industrial base for battery parts production<\/a> and recycling in the kingdom. Chinese battery minerals producer Zhejiang Huayou Cobalt is mulling a MAD 200 bn (c. USD 20 bn) electric vehicle battery plant last August<\/a> and Morocco signed an MoU<\/a> with Chinese battery maker Gotion High Tech in June to build a roadmap for setting up a gigafactory for EV batteries and energy storage systems. <\/p>\n

MINING-<\/strong><\/p>\n

Ma\u2019aden <\/strong>+ Fleet partner on minerals exploration: <\/strong>Saudi state-owned mining company Ma\u2019aden partnered with Australian space and mining company Fleet to use the latter\u2019s satellite-powered system for locating critical minerals crucial for the green transition, the company said<\/a> last week. Fleet\u2019s ExoSphere<\/a> system will provide 3D subsurface models of depths up to 2.5 km with near-zero environmental impact. <\/p>\n

Saudi is all in on mining and minerals:<\/strong>KSA\u2019s Manara \u2014 a recently established JV between Saudi Arabia\u2019s sovereign wealth fund the Public Investment Fund and state-owned mining company Ma\u2019aden \u2014 sealed an agreement in late July<\/a> with Brazilian miner Vale to grab a 10% slice of its base metals unit as it eyes a pivotal role in the global energy transition supply chains. The JV will reportedly deploy over USD 15 bn<\/a> of capital for investments in the coming years, upping its previous target of SAR 11.9 bn (USD 3.2 bn) for the venture, almost 5x. KSA says it has untapped metals and minerals \u2014 including copper, zinc, phosphate, and gold \u2014 collectively worth USD 1.3 tn<\/a> <\/p>\n

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OTHER STORIES WORTH KNOWING ABOUT THIS MORNING-<\/strong><\/p>\n