{"id":84931,"date":"2024-06-24T00:00:00","date_gmt":"2024-06-24T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/climate\/2024\/06\/24\/green-finance-and-waste-management-updates-from-kuwait-and-ksa\/"},"modified":"2024-06-24T00:00:00","modified_gmt":"2024-06-24T00:00:00","slug":"green-finance-and-waste-management-updates-from-kuwait-and-ksa","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/climate\/2024\/06\/24\/green-finance-and-waste-management-updates-from-kuwait-and-ksa\/","title":{"rendered":"Green finance and waste management updates from Kuwait and KSA"},"content":{"rendered":"

GREEN FINANCE-<\/p>\n

Kuwait <\/strong>Fund to inject USD 112 mn in interconnection grid: <\/strong>The Kuwait Fund for Arab<\/a>Economic Development<\/a> has signed a USD 112 mn loan agreement with the Gulf Cooperation Council Interconnection Authority (GCCIA) to boost the Gulf Electricity Interconnection Grid, according to a statement<\/a>. The loan will finance the expansion of the grid to include southern Iraq's electricity network. The expansion aims to increase Kuwait's electrical capacity by 3 GW and Iraq's by at least 500 MW by constructing a new interconnection station in Kuwait's Al-Wafra area and extending 400-kV transmission lines to Saudi Arabia and Iraq. Al-Wafra station is expected to be operational by the end of 2024.<\/p>\n

REMEMBER- The interconnection will transmit electricity from renewable sources: <\/strong>The interconnection project will be used to export electricity, including electricity generated by renewable energy<\/a>, and it will reduce the dependence on fossil fuels and facilitate clean power exports to other countries in the region and beyond.<\/p>\n

WASTE MANAGEMENT- <\/p>\n

Saudi <\/strong>is getting a new waste management plant: <\/strong>The Saudi Ports Authority<\/a>(Mawani)<\/a> has partnered with the SIRC Group-owned global environmental services management company Reviva<\/a> to establish a recycling complex for marine and industrial waste at Jeddah Islamic Port, according to a statement<\/a>. The project \u2014 valued at SAR 30 mn and spanning 10k sqm \u2014 aims to enhance environmental sustainability by offering services including waste management, recycling, industrial maintenance, by-product recycling, and transportation. No timeline or estimated capacity were disclosed for the project.<\/p>\n

BLUE AMMONIA-<\/p>\n

Sumimoto <\/strong>partners with Qatar Energy on blue ammonia: <\/strong>Japan\u2019s Sumitomo<\/a>Corporation<\/a> has secured a contract with Qatar's state-owned energy company Qatar Energy<\/a> to supply high-alloy seamless Oil Country Tubular Goods (OCTG)<\/a> for a blue ammonia production plant in Qatar's Mesaieed region, according to a statement<\/a>. The contract marks the first Japanese OCTG order for a carbon capture and storage (CCS) project in the Middle East. The supplied OCTG \u2014 made with Nippon Steel<\/a> 's low-CO2 NSCarbolex Neutral steel<\/a> \u2014 will be crucial in managing the corrosive conditions caused by CO2 impurities during the CCS process. The blue ammonia plant will have an estimated capacity of 1.2 mn tons annually.<\/p>\n

DIPLOMACY- <\/p>\n

UAE + Hungary to partner on renewable energy: <\/strong>The UAE and Hungary have agreed to a partnership that will include collaboration on clean and renewable energy, water and environment protection and management, and food security, according to Wam<\/a>. The partnership was discussed at the two-day meeting of the Joint Economic Committee in Budapest last week. The two countries conducted similar talks<\/a> during May of last year.<\/p>\n

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