DEBT WATCH- <\/p>\n
Turkish leasing company gets EUR 25 mn from EBRD\u2019s green facility:<\/strong> The European Bank for Reconstruction and Development (EBRD) is lending EUR 25 mn to Turkey\u2019s leasing company Garanti BBVA<\/a> under its Green Economy Financing Facility II (GEEF II)<\/a>, according to a statement<\/a> released on Thursday. The funds will be on-lent to finance machinery purchases used in energy efficiency, renewable energy, and climate resilience projects. The project also integrates a technical cooperation package promoting gender-responsive climate finance. <\/p>\n (** Tap or click the headline above to read this story with all of the links<\/strong> to our background and outside sources.)<\/p>\n EBRD ? Turkey\u2019s green projects: <\/strong>EBRD granted EUR 50 mn<\/a> loan to Turkish lender AKLease and EUR 25 mn loan<\/a> to Turkey\u2019s QNB Finansleasing to support on-lending of green investments as part of its GEEF II over the last two months. It also extended a EUR 55 mn loan<\/a> to Turkish renewable energy firm Borusan EnBW Enerji in September to build a 116 MW onshore wind energy project in Sivas and Tekirda\u011f. Earlier in August, the Turkish multinational snack manufacturer Ulker received EUR 83 mn<\/a> from EBRD in its first sustainability-linked Eurobond issuance. EBRD\u2019s total investments in the country since 2009 have hit the EUR 20 bn mark.<\/p>\n SOLAR- <\/p>\n Misr Cement + Solariz to develop 40 MW solar PV project: <\/strong>Misr Cement Group has signed an agreement with SolarizEgypt to build a 40 MW solar photovoltaic project, according to a statement<\/a> released on Thursday. The plant \u2014 to be built under an Independent Power Producer model \u2014 will power the cement maker plants in Minya and Qena with 48 GWh of energy. <\/p>\n Misr Cement is on a greener path:<\/strong> In July<\/a>, the company signed agreements with Egypt\u2019s Qena and Sohag governorates to manage and operate waste processing and recycling plants. The partnership \u2014 part of a broader strategy to integrate the private sector into Egypt's waste management system \u2014 aims to enhance the efficiency of waste management, reduce environmental pollution, and promote the use of alternative fuels derived from waste. <\/p>\n GREEN FINANCE- <\/p>\n Morocco\u2019s <\/strong>green hydrogen <\/strong>R&D<\/strong> just got a<\/strong> lift:<\/strong> The Institute for Research in Solar Energy and New Energies (IRESEN) inked EUR 13.5 mn financing agreement with the German Development Bank (KfW) to advance its green hydrogen research platform Green H2A, according to a statement (pdf)<\/a> released last week. An initial disbursement of EUR 3.5 mn has been also announced alongside the signing. <\/p>\n About the platform: <\/strong>Green H2A<\/a> was founded in 2022 by IRESEN<\/a>, OCP Group<\/a>, and Mohammed VI Polytechnic University<\/a> to serve as a key research and innovation platform for green hydrogen and other Power-to-X (PtX) applications. The initiative aims to support Morocco\u2019s industrial and academic sectors by providing infrastructure to test, adapt, and deploy green hydrogen technologies tailored to local needs with local components. Beyond tech development, the platform also aims to support the private sector through tech transfers, capacity building, and improving the country\u2019s green hydrogen policy frameworks. <\/p>\n ICYMI-<\/strong> Morocco inked four agreements<\/a> to advancing domestic and international collaboration in green hydrogen research and tech development last October. Earlier in July, IRESEN, the Paris-Saclay Technology Transfer Acceleration Company, and the French Development Agency also signed an agreement<\/a> to support applied research projects for decarbonized hydrogen with a EUR 800k grant. The three-year project call will be managed by IRESEN and provide financial and technological support and access to shared infrastructure, such as the Green H2A platform.<\/p>\n \n Empower + Egypt\u2019s Engazaat sign USD 50 mn renewables agreement: <\/strong>Egypt\u2019s solar-for-water business Engazaat<\/a> secured a USD 50 mn funding from Norway\u2019s Empower New Energy, according to a statement<\/a> released last week. The funds will fully finance 40 MW solar projects pipeline that have already secured 25-year power purchase agreements with various commercial and industrial clients in Egypt. The agreement was made during a visit by President Abdel Fattah El Sisi to Norway. <\/p>\n RECYCLING-<\/p>\n Kezad Group and Witthal Gulf Industries have signed an MoU to establish the UAE's first <\/strong>lithium battery recycling plant<\/strong>, according to a press release<\/a> published last week. This facility, set to be operational by 2Q 2027, will recycle 5k tons of battery waste and cut 20k tons of emissions annually. <\/p>\n Kezad has other lithium battery plans:<\/strong> Kezad inked an agreement with Dubai-based manufacturer Titan Lithium to establish a lithium processing facility<\/a> with a total investment of AED 5 bn earlier this year. The facility will use imported lithium from Titan\u2019s mines in Zimbabwe to produce battery-grade lithium carbonate and lithium hydroxide for use in EV production plants worldwide.<\/p>\n A recycling powerhouse:<\/strong> In April, UAE-based Green Metal Industries has earmarked AED 367 mn (USD 100 mn) to set up a steel recycling and manufacturing plant<\/a> in one of Kezad\u2019s industrial zones called Kezad Al Ma\u2019mourah. Kings Aluminium Industries also started construction on its AED 750 mn (c.USD 204.2 mn) aluminum production and recycling facility<\/a> in Kezad\u2019s aluminum corridor Hot Metal Road. <\/p>\n \n GREEN STEEL- <\/p>\n Modon <\/strong>to use Emsteel\u2019s green steel: <\/strong>UAE\u2019s real estate developer Modon<\/a> is partnering with Emsteel to use their low-carbon steel, according to a disclosure (pdf)<\/a> to the ADX last week. Modon will be the first developer to deploy the steel coming from Emsteel and Masdar\u2019s pilot program producing steel using green hydrogen as a fuel. <\/p>\n About the green steel: <\/strong>The green steel pilot program has recently become fully operational<\/a> in October. The project uses energy from green hydrogen to extract iron from iron ore \u2013 an otherwise energy-intensive step essential to steelmaking. The renewable hydrogen used in the project has been certified by Avance Labs and validated by Bureau Veritas.<\/p>\n \n CONSERVATION- <\/p>\n VentureOne launches mangrove restoration startup: <\/strong>The UAE\u2019s Advanced Technology Research Council\u2019s VentureOne has launched Nabat \u2014 a climate tech startup targeting the conservation and restoration of mangroves and other ecosystems across the region using robotics and AI, according to a statement<\/a> released last week. The startup will initially target mangroves in the UAE over the next seven years but plans to add on other locations and ecosystem types, such as deserts, farmland, forests, and coral reefs. <\/p>\n About the tech: <\/strong>The company said it will use AI to design conservation and restoration plans that are tailored to each ecosystem\u2019s \u201cunique and complex needs,\u201d and robotics, such as seeding drones to allow for less labor-intensive efforts that can be used in remote areas. <\/p>\n OTHER STORIES WORTH KNOWING ABOUT THIS MORNING-<\/strong><\/p>\n Stories on our radar this morning from around the region<\/p>\n","protected":false},"author":1,"featured_media":88655,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","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":[66,74,390,40,179,550,11,164,39,193,45,163,305,159,42,191,52],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-88654","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-also-on-our-radar","tag-also-on-our-radar","tag-decarbonization","tag-ebrd","tag-egypt","tag-eib","tag-emsteel","tag-enterpriseclimate","tag-green-finance","tag-green-hydrogen","tag-green-steel","tag-morocco","tag-qatar","tag-recycling","tag-saudi-arabia","tag-solar-energy","tag-turkey","tag-uae","wpautop","entry"],"acf":{"mongo_id":"0a6174ec-6c11-40c3-b788-d770f295c594","order":"8","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/3\/2595.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Green finance, solar, and recycling updates from Turkey, Egypt, Morocco, and the UAE","related_issue":[88640],"teaser":"Stories on our radar this morning from around the region","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/12\/.8db63c3d-f217-4d0f-a5ad-9d8e4c613044.mp3"},"yoast_head":"\n
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