{"id":85335,"date":"2024-07-11T00:00:00","date_gmt":"2024-07-11T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/climate\/2024\/07\/11\/finance-policy-and-waste-management-updates-from-uae-and-saudi\/"},"modified":"2024-07-11T00:00:00","modified_gmt":"2024-07-11T00:00:00","slug":"finance-policy-and-waste-management-updates-from-uae-and-saudi","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/climate\/2024\/07\/11\/finance-policy-and-waste-management-updates-from-uae-and-saudi\/","title":{"rendered":"Finance, policy, and waste management updates from UAE and Saudi"},"content":{"rendered":"

DEBT WATCH-<\/p>\n

Tadweer + Ewec\u2019s waste-to-energy project is getting a green loan: <\/strong>The UK\u2019s Standard Chartered Bank will lead the financing for Abu Dhabi\u2019s first large-scale waste-to-energy project<\/a>, developed by Tadweer Group and Emirates Water and Electricity Company (Ewec), according to a press release<\/a>. The bank will take on multiple roles for Tawdeer\u2019s first green financing, including being the pre-bid lead bank, the documentation bank, the bookrunner, an initial mandated lead arranger, green loan coordinator, hedging bank, sole VAT lender, sole equity bridge loan lender, hedge bank, global facility agent, commercial facility agent, and offshore and onshore security agent, according to the statement. <\/p>\n

About the project:<\/strong> The facility <\/span>will process<\/a> 2.7k tons of municipal solid waste daily, or 900k tons per year. It aims to divert 80% of Abu Dhabi's waste from landfills by 2030, saving up to 1 mn tons of CO2 annually. No value was revealed for the green loan. The project will be developed in collaboration with a Japan-based consortium.<\/span><\/p>\n

GREEN POLICY-<\/p>\n

UAE launches national green certificates program: <\/strong>The UAE\u2019s Ministry of Energy and Infrastructure (MoEI) has kicked off its National Green Certificates Program aimed at fostering environmentally friendly building practices, according to a press release<\/a>. The program establishes standards for energy efficiency, water management, indoor air quality, and sustainable materials in buildings. MoEI will also offer technical support and consultations to participating businesses to ensure sustainability standards are met. The initiative comes inline with the UAE\u2019s National Demand-side Management Program (pdf)<\/a> and National Green Building Regulation<\/a>.<\/p>\n

UAE signed four MoUs to set the program in motion:<\/strong> The MoEI inked four MoUs \u201cto support the program,\u201d the statement added. The first agreement was signed with First Abu Dhabi Bank to collaborate on green finance solutions for the built environment sector, the second with Aldar Properties for the implementation of green finance solutions and technical services, the third with Pact Carbon for assistance in accessing the global carbon credit market, and lastly with Meagle Energy for energy auditing, measurement, and verification services.<\/p>\n

ALSO-<\/strong> Abu Dhabi launches Energy Efficiency Clubs: <\/strong>Abu Dhabi National Energy Company (Taqa) subsidiary the Abu Dhabi Distribution Company<\/a> (ADDC) launched the Energy Efficiency Clubs initiative in collaboration with Agthia Group, Emirates Float Glass Company, and Arabian Gulf Steel Industries Company, Wam<\/a> reports. The initiative aims to encourage unified sustainable action to increase energy efficiency and reduce costs and environmental footprint in Abu Dhabi by bringing industry leaders together through the joint platform. <\/p>\n

WASTE MANAGEMENT-<\/p>\n

Saudi allocates 11k sqm for waste processing facility: <\/strong>The Saudi Authority for Industrial Cities and Technology Zones (Modon) has partnered with Wazeen company to allocate an 11k sqm industrial land for a facility specializing in the treatment and recycling of hazardous medical waste, according to a statement<\/a>. The SAR 28 mn facility will be located at Jeddah\u2019s Third Industrial City.<\/p>\n

Modon has been active: <\/strong>The company \u2014 a subsidiary of the Riyadh-based water treatment company Miahona<\/a> \u2014 signed an agreement with Chinese solar equipment maker Arctech Solar to build a factory in Jeddah capable of making solar panels with 3 GW of annual production capacity<\/a> in April. The two also partnered<\/a> to develop a facility for the production of smart solar trackers and building-integrated solar photovoltaic systems in Jeddah's Second Industrial City in May. <\/p>\n

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