{"id":81407,"date":"2023-12-21T00:00:00","date_gmt":"2023-12-21T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/climate\/2023\/12\/21\/today-another-mega-green-hydrogen-plant-for-acwa-power\/"},"modified":"2023-12-21T00:00:00","modified_gmt":"2023-12-21T00:00:00","slug":"today-another-mega-green-hydrogen-plant-for-acwa-power","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/climate\/2023\/12\/21\/today-another-mega-green-hydrogen-plant-for-acwa-power\/","title":{"rendered":"TODAY: Another mega green hydrogen plant for Acwa Power"},"content":{"rendered":"

Good morning, friends. <\/strong>It\u2019s more quiet than usual on the climate front as everyone departs for holiday leave and the year winds down to an end. Despite the lull, there\u2019s some significant news to dig into from Acwa Power\u2026<\/p>\n

THE BIG CLIMATE STORY- <\/strong>Renewables giant Acwa Power inked an agreement with the Egyptian government to develop a large-scale two-phase green hydrogen and ammonia project in the Suez Canal Economic Zone.<\/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- Orsted greenlights world\u2019s largest offshore wind <\/strong>farm<\/strong>: <\/strong>Danish renewables company Orsted approved development of the 2.9 GW Hornsea 3 wind farm off the coast of the UK yesterday, planning to complete the project by the end of 2027 at an expected GBP 8 bn (c. USD 10.1 bn) price tag. Once completed, the power plant will generate enough clean power to meet the energy demands of some 3.3 mn UK households, making it the world\u2019s largest offshore farm. Orsted\u2019s shares surged 5% on news of its final investment decision on the project. <\/p>\n

The story made headlines in the international press:<\/strong>Bloomberg<\/a> | Reuters<\/a> | The Financial Times<\/a> <\/p>\n

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<\/a>WATCH <\/strong>THIS SPACE #1- GERD talks end in deadlock yet again:<\/strong> The fourth and final round of talks between Egypt, Sudan, and Ethiopia on the Grand Ethiopian Renaissance Dam (GERD) ended in deadlock, according to a statement<\/a>. The final round of talks aimed to finalize a framework agreement for the filling and operation of the GERD within four months, but no consensus was reached as Ethiopia refused any technical or legal compromise, the statement added. The three countries have failed during years-long negotiations to reach any agreement<\/a> on how to share the Nile\u2019s water. <\/p>\n

Why is this important?<\/strong> The unilateral filling of the dam's reservoir<\/a> without a binding agreement poses an existential threat to its water security, directly affecting agriculture<\/a>, as it disregards the interests, rights, and water security of downstream countries Egypt and Sudan. <\/p>\n

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<\/a>WATCH THIS SPACE #2- Egypt approves a EUR 500k green grant from <\/strong>EIB<\/strong>: <\/strong>The Egyptian cabinet approved a draft decision to regarding a cooperation agreement on the dispensation of a EUR 500k green grant extended by the European Investment Bank to help realize the targets of the country\u2019s Green Sustainable Industry<\/a> (GSI) project, according to a cabinet statement<\/a>. Funds from the newly approved EUR 500k grant will be channeled toward financing consultation services on green investment plans for the decarbonization of hard-to-abate industries via the use of green hydrogen, renewables and biogas, the statement notes. The GSI project \u2014 covered by the EU Guarantee for EIB loans outside the EU \u2014 was established last year with the aim of funneling green loans and grants to finance pollution abatement, decarbonisation, energy and resource efficiency projects for both public and private industrial companies in Egypt, and the programme is expected to cost nearly EUR 271 mn, the lender notes. <\/p>\n

<\/a>WATCH THIS SPACE #3- KSA is assessing the irradiation potential: <\/strong>Saudi Arabia is currently assessing the solar irradiation potential of 1.2k tracts of land across the country to locate areas that would reap the highest solar energy efficiency, Asharq Al-Awsat<\/a> reports, citing comments made by Saudi Energy Minister Prince Abdelaziz bin Salman. The kingdom plans to add 20 GW from renewables<\/a> annually between now and 2030 as part of a target to expand its clean energy capacity to 130 GW by the end of the decade. KSA will leverage its planned clean energy expansion to position itself as a green fuels hub, with targets to export up to 150 GW of green hydrogen.<\/p>\n

<\/a><\/strong>WATCH <\/strong>THIS SPACE #4- DIB unveils new green financing program: <\/strong>Dubai Islamic Bank (DIB) launched a sustainable home finance program \u2013 dubbed Nest \u2013 that offers financial products for customers to invest in green homes, solar panels and sustainable construction materials, according to a statement<\/a>. Nest also includes discounted home finance rates, reimbursement for property evaluation fees, and a one-year free property Takaful \u2014 a type of insurance or bank guarantee which Islamic banks offer.<\/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":"

Good morning, friends. It\u2019s more quiet than usual on the climate front as everyone departs for holiday leave and the year winds down to an end. 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