{"id":86063,"date":"2024-08-14T00:00:00","date_gmt":"2024-08-14T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/climate\/2024\/08\/14\/solar-green-finance-and-investment-updates-from-saudi-arabia-tunisia-and-turkey\/"},"modified":"2024-08-14T00:00:00","modified_gmt":"2024-08-14T00:00:00","slug":"solar-green-finance-and-investment-updates-from-saudi-arabia-tunisia-and-turkey","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/climate\/2024\/08\/14\/solar-green-finance-and-investment-updates-from-saudi-arabia-tunisia-and-turkey\/","title":{"rendered":"Solar, green finance and investment updates from Saudi Arabia, Tunisia, and Turkey"},"content":{"rendered":"<p class=\"tag-border-left\">DESALINATION-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Jubail 3B desalination plant in Saudi enters commercial operations: <\/strong>Saudi Water Partnership Company (SWPC) began operating its SAR 2.6 bn (USD 692 mn) solar-powered Jubail 3B Independent Water Desalination Project, according to a <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/posts\/water-electricity-co_swpc-engie-nesma-activity-7221554682895224834-u62u?utm_source=share&amp;utm_medium=member_desktop\" style=\"\" rel=\"noopener\">statement<\/a>. The plant was developed by a consortium led by France\u2019s Engie, along with Saudi Arabia\u2019s <a target=\"_blank\" href=\"https:\/\/www.nesma.com\/\" style=\"\" rel=\"noopener\">Nesma Co<\/a>, and <a target=\"_blank\" href=\"https:\/\/ajlanbros-holding.com\/\" style=\"\" rel=\"noopener\">Ajlan &amp; Bros<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong style=\"background-color: transparent;\">About the plant: <\/strong><span style=\"background-color: transparent;\">The Jubail 3B plant will use reverse osmosis technology to produce 570k cbm of potable water daily to provide water to 2 mn people in Riyadh and Qassim, <\/span><a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/world\/middle-east\/saudis-jubail-3b-water-project-enters-commercial-operations-hr7kr2qu\" rel=\"noopener\">Trade Arabia<\/a><span style=\"background-color: transparent;\"> wrote. The facility will also include storage tanks with the capacity to hold a day\u2019s worth of desalinated water. The project \u2014 which is being developed under a 25-year build-own-operate contract \u2014 reached financial close in October 2021 after the bid was awarded to the Engie consortium.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- Acciona will handle the solar plant<\/strong>: Renewables and water treatment company Acciona is planning to build the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/91a740d5-69e3-4c0a-a517-3afd6936555a\/shell-is-setting-up-its-blue-hydrogen-%2B-ammonia-plant-in-oman%25e2%2580%2599s-duqm\" style=\"\" rel=\"noopener\">61 MW solar photovoltaic project<\/a> that will power the desalination plant, which will help the plant cut down on conventional power consumptions. The plant is expected to be fully operational in 2024 and will produce potable water within the next few months. <\/p>\n<p class=\"tag-border-left\">GREEN FINANCE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Miga issues EUR 18.45 mn guarantee for Tunisian solar plants: <\/strong>The World Bank\u2019s Multilateral Investment Guarantee Agency (Miga) has released a EUR 18.45 mn guarantee to Japan\u2019s Aeolus for its investment in Norwegian renewables developer Scatec\u2019s 60 MW Sidi Bouzid and Tozeur solar projects in Tunisia, according to a <a target=\"_blank\" href=\"https:\/\/www.miga.org\/press-release\/miga-guarantee-propel-tunisias-renewable-energy-generation\" style=\"\" rel=\"noopener\">press release<\/a>. This comes a week after the European Bank for Reconstruction and Development and the French development agency, Proparco, said they would lend Aeolus \u2014 a subsidiary of Toyota\u2019s investment arm Toyota Tsusho Group \u2014 and Scatec <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/4ab3e8e6-a02c-4355-8897-16bb5cd0a902\/\" style=\"\" rel=\"noopener\">EUR 25 mn<\/a> for the construction of the two solar plants.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- <\/strong>Aeolus signed a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/274e119b-16b4-40d7-8dd1-559acce0f5af\/aeolus-acquires-a-49%2525-stake-in%253cmark%253e-scatec%253c%2Fmark%253e%25e2%2580%2599s-tunisian-solar-projects\" style=\"\" rel=\"noopener\">partnership agreement<\/a> with Norwegian renewables developer Scatec to jointly develop and own the latter\u2019s EUR 79 mn Sidi Bouzid and Tozeur solar projects earlier this month. Under the agreement, Aeolus acquired a 49% ownership stake. The tender for the plants entered its final stages back in May. Scatec was awarded a 20 year power purchase agreement with the option to extend 10 years from the Tunisian state utility firm Soci\u00e9t\u00e9 Tunisienne de l\u2019Electricit\u00e9 et du Gaz.<\/p>\n<p class=\"tag-border-left\">DEBT WATCH-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Polinas Plastik gets EUR 25 mn from EBRD to decarbonize packaging production: <\/strong>The European Bank for Reconstruction and Development (EBRD) has approved a EUR 25 mn loan for Turkey\u2019s flexible packaging producer <a target=\"_blank\" href=\"https:\/\/www.polinas.com\/en\" style=\"\" rel=\"noopener\">Polinas Plastik<\/a> to help reduce emissions from the firm\u2019s production line, according to a <a target=\"_blank\" href=\"https:\/\/www.ebrd.com\/news\/2024\/ebrd-loan-to-advance-greener-packaging-in-trkiye.html#\" style=\"\" rel=\"noopener\">statement<\/a>. The loan will go towards investments that will help make the firm\u2019s production more energy and resource efficient, as well as integrating solar into the energy mix. The financing will also fund a new production line for biaxially oriented polypropylene film and new machinery that will allow for the production of fully recyclable packaging materials that incorporates both recycled and biobased content.<\/p>\n<p class=\"tag-border-left\">INVESTMENT WATCH-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICIEC <\/strong><strong>+ JBIC partner to boost renewables projects:<\/strong> The Islamic Development Bank\u2019s (IsDB) Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) and the Japan Bank for International Cooperation (JBIC) have signed an MoU to enhance trade and investment between ICIEC member states and Japan, with a focus on climate action and renewable energy, according to a <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/press-release\/companies-news\/iciec-and-jbic-forge-strategic-alliance-to-boost-trade-and-investment-jjp8ernh\" style=\"\" rel=\"noopener\">press<\/a><a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/press-release\/companies-news\/iciec-and-jbic-forge-strategic-alliance-to-boost-trade-and-investment-jjp8ernh\" style=\"\" rel=\"noopener\">release<\/a>. The partnership aims to leverage ICIEC\u2019s insurance services and JBIC\u2019s financial facilities to support projects particularly in Central Asia.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>IsDB has more in the works: <\/strong>IsDB pledged <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/9cb7b135-2330-4147-b5ad-aa37eeec3799\/loans,-carbon-markets,-green-bonds-and-more\" style=\"\" rel=\"noopener\">USD 250 mn<\/a> to Irena\u2019s Energy Transition Accelerator Financing platform during COP28, for which ICIEC is offering de-risking products in developing countries. The lender also plans to invest <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/01be8e5c-7525-4c7c-98d0-a863bf5abd9f\/\" style=\"\" rel=\"noopener\">USD 4.5 bn<\/a> in as many as 57 sustainable and infrastructure projects across member states this year. It also signed a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/2a11c725-aca5-401e-ac54-ab6ace3b0722\/\" style=\"\" rel=\"noopener\">joint financing agreement<\/a> worth USD 60 mn with Tunisia to support SMEs in various sectors including renewable and low-carbon energy in May, and signed a USD 150 mn financing agreement for <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/63fc4350-38e9-46e6-8e44-3cd4f10c5eeb\/\" style=\"\" rel=\"noopener\">Tajikistan\u2019s Rogun hydropower plant<\/a> in June.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>JBIC has projects in the region<\/strong>: JBIC extended a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/8e5c39b4-c827-4419-99ea-b710264c20ed\" style=\"\" rel=\"noopener\">USD 3 bn green finance loan<\/a> to the Abu Dhabi National Oil Company (Adnoc) to support the company\u2019s decarbonization efforts and green initiatives last month. The lender also extended a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/273d7a63-8226-478f-acb9-2bbf2667910a\" style=\"\" rel=\"noopener\">USD 12 mn loan<\/a> to Mitsui &amp; Co. for its 1 mn ton low carbon ammonia production Al Ruwais ammonia plant with Ta\u2019ziz in June, and is <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/fc4e6992-3e7b-459b-b31a-8e069370e4e1\" style=\"\" rel=\"noopener\">among the financiers<\/a> of the 500 MW Gulf of Suez wind plant in Egypt.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Stories on our radar this morning from around the region<\/p>\n","protected":false},"author":1,"featured_media":86064,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[67],"tags":[66,100,11,159,42,294,161],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-86063","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-also-on-our-radar","tag-also-on-our-radar","tag-desalination","tag-enterpriseclimate","tag-saudi-arabia","tag-solar-energy","tag-tunisia","tag-world-bank","wpautop","entry"],"acf":{"mongo_id":"9b10469d-3207-47e6-9270-72c6add5c580","order":"8","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/8\/1242.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Solar, 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