{"id":81375,"date":"2023-12-20T00:00:00","date_gmt":"2023-12-20T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/climate\/2023\/12\/20\/today-a-first-of-its-kind-bess-consortium-has-formed-cyvn-buys-an-additional-13-1-stake-in-nio\/"},"modified":"2023-12-20T00:00:00","modified_gmt":"2023-12-20T00:00:00","slug":"today-a-first-of-its-kind-bess-consortium-has-formed-cyvn-buys-an-additional-13-1-stake-in-nio","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/climate\/2023\/12\/20\/today-a-first-of-its-kind-bess-consortium-has-formed-cyvn-buys-an-additional-13-1-stake-in-nio\/","title":{"rendered":"TODAY: A first-of-its-kind BESS consortium has formed + CYVN buys an additional 13.1% stake in Nio"},"content":{"rendered":"

Good morning, friends. <\/strong>We\u2019re experiencing a news lull as the weekend inches closer, but we have lots of bits and pieces from around the region to dig into.<\/p>\n

THE BIG CLIMATE STORY- <\/strong>Over 10 countries have joined a first-of-its-kind consortium to secure 5 GW of battery energy storage system (BESS) commitments by the end of 2024 as first-mover countries.<\/p>\n

^^ We have the details on this story and more in the news well, below.<\/p>\n

THE BIG CLIMATE STORY OUTSIDE THE REGION- <\/strong>There's no single story dominating the headlines, but a pledge emerging from the EU got some nominal interest.<\/strong>Seven countries in Europe have moved to eliminate CO2-emitting power plants from their electricity systems by 2035. The countries involved account for nearly half of all power production in the EU. The two biggest European power producers \u2014 Germany and France \u2014 alongside Austria, Belgium, Luxembourg, the Netherlands, and Switzerland will collaborate on infrastructure planning to build enough grids and energy storage to integrate low-carbon power into their network. \"The countries have a strongly interconnected electricity system, and can benefit from offshore potential in some areas and storage in other areas,\" Dutch Climate MinisterRob Jetten told Reuters. The news was picked up by <\/strong>Reuters<\/a><\/strong> and <\/strong>Bloomberg<\/a><\/strong>.<\/strong><\/p>\n

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<\/a>WATCH THIS SPACE #1- A Omani-Japanese green steel JV is in the <\/strong>works<\/strong>:<\/strong> Oman\u2019s Public Authority for Special Economic Zones and Free Zones (Opaz) expects to finalize a financial partnership agreement on a green steel production plant with an unnamed Japan-based firm, head of Opaz Ali Al Sunaidi told Asharq Business<\/a>. The financial agreement is planned for completion by 1H 2024, Al Sunaidi added, without disclosing the company\u2019s name, the expected investment ticket for the project, or an estimated timeline for construction. The company\u2019s target of producing 1 mn tons of green hydrogen annually by 2030 is attracting green steel developers to the Omani market, Sunaidi noted.<\/p>\n

ALSO- <\/strong>Oman\u2019s hydrogen block option drums up interest from international investors: <\/strong>Over 180 companies have submitted their qualifications to participate in the second round of Oman\u2019s auction for three blocks of land allocated for hydrogen projects, Oman Observer<\/a> reports, citing the state-owned Hydrom. Around 40 of those companies will receive access to an online Request for Qualifications (RFP), and go on to submit firm bids by the end of next month. Agreements on one or more blocks awarded during this round will be signed before 2Q 2024 ends, Hydrom Managing Director Abdulaziz al Shidhani said. <\/p>\n

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WATCH THIS SPACE #2- Masdar and the US are eyeing MENA, Africa, and Central <\/strong>Asia\u2019s renewables <\/strong>market<\/strong>: <\/strong>UAE state-owned renewable energy developer Masdar has signed an agreement with the US International Development Finance Corporation to explore renewables projects that can be funded across Africa, the Middle East, and Central Asia, the company said<\/a>. The launch date of the project and how much each side plans to allocate were not disclosed. The Emirati and US governments launched their Partnership for Accelerating Clean Energy (PACE) back in November<\/a>, aiming to jointly channel USD 100 bn for clean energy and carbon management projects, including carbon capture and storage and direct air capture ventures, by 2035.<\/p>\n

<\/a>WATCH THIS SPACE #3- Saudi Arabia plans to more than double its renewables target by <\/strong>2030 to reach 130 GW,<\/strong>Al Arabiya<\/a> reported yesterday, citing statements by Saudi Energy Minister Prince Abdelaziz bin Salman during the Saudi Arabia Smart Grid Conference. He said the kingdom plans to add 20 GW in renewable energy annually to reach 130 GW by 2030, up from a previous target of 58.5 GW. The government is ready to export up to 150 GW of green hydrogen or electricity, he added. <\/p>\n

REMEMBER- <\/strong>The kingdom plans to launch renewable energy projects with a total capacity of 20 GW next year, the Energy Minister said earlier this month<\/a>. He said the government is set to tender a new contract for the construction of four high-efficiency gas-powered energy stations with a production capacity of 7 GW. Different projects with a total capacity of 21 GW are also underway as part of the Saudi Green Initiative, which is implementing 80 new initiatives and has achieved over USD 188 bn in investments. The country\u2019s renewable energy production has reached 2.8 GW so far.<\/p>\n

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<\/a>WATCH THIS SPACE #4- More GERD talks kick off in <\/strong>Ethiopia<\/strong>:<\/strong> The fourth round of talks on the Grand Ethiopian Renaissance Dam (GERD) commenced earlier this week with participation from Egypt, Sudan, and Ethiopia\u2019s water resources and irrigation ministries, according to a statement<\/a>. This round of negotiations is aimed at expediting a finalization of an agreement setting a framework for the filling and operation of the GERD within four months, the statement notes. <\/p>\n

REFRESHER- <\/strong>A continued deadlock: <\/strong>The three countries have failed during years-long negotiations to reach a consensus on how to share the Nile\u2019s water. Cairo fears the dam presents an existential threat to its water security<\/a> as Ethiopia continues to unilaterally fill<\/a> the reservoir without a binding agreement. The unilateral filling pushed Cairo to withdraw in 2021 from African Union-led negotiations. The latest round of negotiations \u2014 which was the first after a two year deadlock \u2014 were held in August<\/a> but ended with no changes in the Ethiopian position, despite the two sides agreeing to finalize an agreement<\/a> by December. <\/p>\n

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DANGER ZONE #1- Morocco\u2019s dam capacity continues downward trend: <\/strong>Morocco \u2014 which in 2023 entered its fifth<\/a> consecutive year of drought \u2014 saw its reservoir capacity drop to 23.55% this year (3.8 bn cubic meters) from 29.8% (4.88 bn cubic meters) in 2022, Telexpresse<\/a> reports, citing figures by the country\u2019s National Observatory of Human Development. Despite the overall drop in water reserves, the Locus and Sebou basins in the north of the country and the Tensift Basin in central Morocco are recovering, recording a 39.29%, 36.75%, and 46.33% filling rate respectively. Southern basins continued a downward trajectory. <\/p>\n

The agricultural + economic impact is significant: <\/strong>While agriculture contributes only 12%<\/a> of Morocco\u2019s GDP on average, 39% of the labor force works in agriculture, resulting in reduced incomes for most rural inhabitants. A recent World Bank report found that rain-fed agriculture represents 80% of Morocco\u2019s cultivated area \u2014 including the country\u2019s crucial cereal crops such as wheat and barley \u2014 and employs most of the agricultural workforce. The country is ramping up its desalination efforts, and is working on wastewater recycling plants, expanding implementation of drip irrigation, and building channels to connect rivers and supply more regions with water.<\/p>\n

<\/a>IN OTHER MOROCCAN NEWS- <\/strong>The kingdom is also eyeing hydrogen exports to Europe through Nigeria<\/strong>:<\/strong> Morocco is looking to expand its green hydrogen exports to Europe using the Morocco-Nigeria gas pipeline by mixing 15% hydrogen with 85% gas, Managing Director of the National Office of Hydrocarbons & Mines Amina Benkhadra told Attaqa<\/a>.<\/p>\n

We knew this was coming:<\/strong> Morocco, Nigeria, and Ecowas first signed an MoU in 2022 to establish the USD 25 bn natural gas pipeline<\/a> linking the two countries to enable Nigeria to export gas to West Africa and Western Europe. Talks on using the gas pipeline to transport green hydrogen to the bloc<\/a> began in September. <\/p>\n

Too much EU interest? <\/strong>Netherlands-based think tank the Transnational Institute<\/a> warns that while reforms to the IMF\u2019s USD 1.3 bn Resilience and Sustainability Trust<\/a> (RST) loan to Morocco is expected to spur renewables and low-carbon hydrogen exports to the EU, they are likely to come at the expense of Moroccan citizens\u2019 green energy needs, Bretton Woods<\/a> writes. Instead of prioritizing the benefits for local communities, the RST was focused on easing the entry of European investors into Morocco\u2019s renewable energy sector, similar to a recent World Bank country report which looked at \u201cunbundling the National Office of Electricity and Drinking Water, and enhancing the legal and regulatory framework for EU market compatibility.\u201d <\/p>\n

Morocco\u2019s planned green energy is earmarked for export:<\/strong> Morocco's renewable energy resources are being used primarily to meet EU power needs. Projects like the Tan-Tan solar and wind project operated by the UK\u2019s Xlinks<\/a> and Australia-based CWP Global\u2019s planned USD 20 bn for a utility-scale green hydrogen<\/a> and ammonia project are examples of the exploitative trend, Bretton Woods writes. <\/p>\n

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

Qatar will host The <\/strong>International Conference on Smart Grid and Renewable Energy<\/a><\/strong> is kicking off Tuesday, <\/strong>9 January through to Friday, 12 January<\/strong> in Doha. The conference will explore the importance of the smart grid and renewable energy resources and the viability of various related technologies. It will also host discussions on power electronics, controls, manufacturing, communications and computational intelligence.<\/p>\n

Saudi Arabia will host the <\/strong>Future Minerals Forum<\/a><\/strong> from Tuesday, 9 January through to <\/strong>Thursday, 11 January<\/strong> in Riyadh. The event will bring nations and private sectors together to enable the creation of resilient mineral value chains in the resource rich regions of Africa, Western Asia, and Central Asia. The forum will hold a ministerial roundtable with over 60 countries being represented., and delegates will discuss global critical mineral strategies as well as an international exhibition with over 150 exhibitors and industry sponsors. <\/p>\n

The UAE will host the <\/strong>Management and Sustainability of Water Resources<\/a><\/strong> Conference <\/strong>from Monday, 26 February to Wednesday 28 February<\/strong> in Dubai.The conference is set to address the importance of water resources availability in arid and semiarid regions and to discuss global water issues and address future water and environmental challenges.<\/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":"

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