Thursday, 22 September 2022

Dying oil tanker threatens a >USD 20 bn Red Sea disaster



Good morning, wonderful people, and welcome to the accidental food issue of Enterprise Climate. This morning we have a major food startup VC funding round from Qatar, a feature on alternative proteins and what they could mean for MENA, and another warning that morning cup of Joe is at risk. We break them all down in the news well, below.

THE BIG CLIMATE STORY in our corner of the world- Countries along the Red Sea coast are facing what Canada’s CBC says would be a “catastrophic” oil spill if United Nations members don’t quickly transfer several mn USD the organization needs to kickstart a salvage operation. Failure to pay up could mean we will need to take on a >USD 20 bn cleanup operation — and face big problems for everything from marine navigation to the tourism industry (to say nothing of the sea- and wild-life who call coastal areas home).

The problem: A decrepit oil tanker named the FSO Safer that Yemen’s government had been using to store oil, but that is now about to break up. The UN is seeking USD 75 mn in funding to get phase one of the project off the ground — but too many of the countries and institutions that have pledged to kick in haven’t made good.

ALSO IN THE REGION- Oman continues to rev up its hydrogen plans and is now exploring converting its natgas pipeline to move hydrogen. The owner and operator of Oman’s gas pipeline, state-owned OQ Gas Networks, has started running tests to assess the network’s readiness to transport blue or green hydrogen within the country, managing director Mansoor Al Abdali announced recently. We have more in this morning’s hydrogen story, below.

THE BIG CLIMATE STORY outside the region- There is no single big climate story dominating the international press today, but here are a few interesting highlights:

#1- Denmark just became the first rich nation to pledge loss + damage funds to countries in the global south — but is it enough? Denmark has earmarked DKK 100 mn (USD 13.3 mn) in loss and damage aid to countries most impacted by climate change, with a focus on Africa’s Sahel region, it said in a statement. The move marks the first time a developed nation has offered compensation for the impact of emissions on poorer countries, but activists say the sum pales in comparison to the real price tag of the damage sustained by developing countries. (Reuters | Euronews | Washington Post)

#2- The pace of decarbonization in G20 countries reached its lowest level in 20 years in 2021, Reuters cites a PricewaterhouseCoopers (PwC) study as saying. The countries are falling short of reaching the 1.5°C cap set forth in the Paris Agreement due to rising energy costs and covid. Globally, decarbonization fell to 0.5%, far below the 12.9% target required, but in the G20 it only fell to 0.2%. Decarbonization needs to reach 15.2% a year in the aftermath of the slowdown to cap global warming at 1.5°C.

Who did well? “South Africa was the strongest performer, with a decrease of 4.6%, followed by Australia at 3.3% and China at 2.8%,” Reuters wrote.

#3- Former US vice president Al Gore is calling the World Bank president a “climate denier,” urging US president Joe Biden to remove him from his post, several news outlets wrote. Al Gore argues that the bank was providing capital to fossil fuel companies operating in developing countries. (The Independent | Bloomberg)

SIGN OF THE TIMES- No money for gas projects, says EIB: The European Investment Bank (EIB) said it will not invest in any gas projects despite calls by most African nations to recategorize gas for investments, EIB President Werner Hoyer told FT in an interview. “We as a European public institution should not invest in assets that one day will be seen as stranded assets,” he said. The EU’s lending arm should take “the energy transition seriously and move to renewables, Hoyer said, risking a clash with African nations at COP27 who are asserting their right to continue investing in oil and gas. African and developing nations argue that the move is key to their development even as some wealthier nations step up calls to phase out fossil fuels.

Major Wall Street banks are threatening to ditch Mark Carney’s green alliance: JPMorgan, Morgan Stanley and Bank of America are among those who could pull out of the former Bank of England governor’s Glasgow Financial Alliance for Net Zero (GFANZ) due to what they say are legal risks associated with meeting strict decarbonization rules, the Financial Times reports, citing top execs. “I am close to taking us out of these global green commitments,” one senior exec said. “I’m not going to allow third parties to create legal liabilities for us and our shareholders. It is immoral and irresponsible.” GFANZ seeks to tackle climate change from within the financial system by getting members to decarbonize their combined USD 130 tn in assets.

The world needs annual investments of c. USD 1 tn in renewable energy and up to USD 130 bn for hydrogen by 2030 to avoid the crippling repercussions of climate change, FT reported, citing a report by the International Energy Agency, the International Renewable Energy Agency and the UN ahead of COP27. The world now needs to add four times the size of renewable energy added in 2021 every year by 2030, the report showed. Last year, it was estimated that the world would need 3 TW of renewables capacity by 2030 — a data point the report upped to 8 TW. The research was commissioned by 45 states, including the US, EU countries, Australia, Egypt and Nigeria.

YOU’RE READING ENTERPRISE CLIMATE, the essential regional publication for senior execs who care about the world’s most important industry. Enterprise Climate covers everything from finance and tech to regulation, products and policy across the Middle East and North Africa. In a nod to the growing geographical ambitions of companies in our corner of the world, we also include an overview of the big trends and data points in nearby countries, including Africa and southern Europe.

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Climate change remains the most serious existential challenge faced for humanity, President Abdel Fattah El Sisi told a climate roundtable on the sidelines of the UN General Assembly yesterday (watch, runtime: 7:25). In a pre-recorded speech, the president said that the repercussions of climate change are worsening by the day as temperatures soar globally, noting the recent devastating floods in Pakistan and the forest fires in Europe over the summer. El Sisi reiterated his call for the international community to meet the pledge to provide USD 100 bn in funding every year to help developing countries mitigate and adapt to the effects of climate change.

What does the Biden administration want to get out of COP27? A strengthened position in MENA could be one priority area. The Biden administration is likely to use COP27 as a chance to strengthen its position in our corner of the world — in part through its joint hosting with Egypt of the “Adaptation in Africa” event aimed at boosting climate change adaptation throughout the continent, UN climate change negotiator Ken Markowitz told Energy Monitor yesterday.

More cooperation with China could be another: Biden will also be looking to mend some fences with China and find common ground on climate-related issues, Markowitz predicts.

And pushing partners to up their climate ambition is a possible third: “With the passage of the Inflation Reduction Act (IRA), the US enters this COP in its strongest negotiation position in years and it will use that as leverage to motivate its strategic partners to increase their climate ambition,” Markowitz added. The USD 369 bn IRA (pdf) was signed into effect by Biden in August and is considered the largest climate investment bill in US history.

Need a refresher on Biden’s landmark climate bill? We’ve got you covered.

CLIMATE DIPLOMACY- Egypt is advancing its climate agenda and more at the UNGA: Egypt’s Foreign Affairs Minister Sameh Shoukry held climate talks with the foreign ministers of France, Portugal and the Netherlands, as well as the US Special Envoy for Yemen on the sidelines of the UN General Assembly G77 High-Level week. Outside of discussions in national security and diplomacy, conversations focused on investments in Egypt’s green transformation.

Investments in green technologies in Egypt were on the agenda at a meeting between the COP27 President Designate and the US Business Council for International Understanding (BCIU), according to a statement.

Egypt and UN Sec-Gen Antonio Guterres hosted a closed Leaders’ Roundtable on Tuesday. The informal meeting addressed ensuring COP27 outcomes are met, as well as the pressing need to confront weather events that result in great human and material losses and damages, according to a statement. Shoukry also reiterated the importance of honoring the USD 100 bn pledge in 2023 as well as doubling adaptation financing in a video.


Our friends at HSBC are hosting an energy transition webinar series next Tuesday-Thursday (27-29 September). The series will look at the “latest climate analysis in relation to the global energy market and transition to net zero” in six different sessions covering energy security, what is required to ensure the success of COP27, financing and investment needs for the energy transition, and the scaling up of renewables in the region, among other topics. You can register for the series here.

WANT MORE on the region’s energy transition? Catch this op-ed in EnterpriseAM by HSBC’s Group Head, Center of Sustainable Finance and Head of Climate Change Middle East, North Africa and Turkey, Zoe Knight on to the capital that’s needed to help drive that shift.

A Spanish business delegation will be in Cairo on 27-28 September for the Egypt-Spain Multilateral Partnership Forum. The two-day event, which will take place at the Sofitel Gezirah Hotel, will bring together Spanish and Egyptian business execs in electricity, renewable energy and water treatment.

The World Cement Association’s (WCA)’s global conference will take place from 25-28 September at Emirates Towers in Dubai, UAE. The event will be attended by COP26 UN Climate Champion Nigel Topping, among other attendees, panelists,and keynote speakers. You can register for the event here.

The Wetex and Dubai solar show will run 27-29 September at the Dubai World Trade Center.

Dubai will host the World Green Economy Summit on 28-29 September. The summit wants to provide a platform to build consensus around the potential of technologies, policies and youth that could drive the green economy transformation.

Fitch Solutions hosting a webinar on Saudi Arabia’s energy transformation next Thursday, 29 September at 12:00pm KSA. You can register here.

Check out our full calendar on the web for a comprehensive listing of upcoming news events, national holidays and news triggers.


Oman wants to use its natgas network to transport hydrogen ⁠— but why?

Oman wants to repurpose its natgas network to transport hydrogen: The owner and operator of Oman’s gas pipeline system, state-owned OQ Gas Networks, has begun tests to assess the network’s readiness to transport hydrogen across the country, Managing Director Mansoor Al Abdali announced recently at an investor forum hosted by the Muscat Stock Exchange (MSX), the Oman Daily Observer reported yesterday. A feasibility study on integrating hydrogen into existing natgas networks is close to being complete, with initial tests transporting hydrogen at low levels proving “promising,” Al Abdali is reported as saying.

Oman has big hydrogen plans: Oman’s hydrogen strategy envisions the country producing the equivalent of 10 GW of hydrogen by the end of the decade and 30 GW by 2040. Several large-scale projects have been announced over the past 18 months. Omani oil and gas company OQ is working with InterContinental Energy and EnerTech on a 14 GW facility which will be powered by 25 GW of wind and solar energy. ACME and Scatec are partnering on a green ammonia plant that will produce 1.2 mn tons of ammonia powered by 3.5 GW of renewable energy. The country plans to export much of what it produces, and earlier this month said it would begin looking at constructing a hydrogen export terminal.

Why use the natgas network to move hydrogen? Because it’s cost- and time-efficient: The cost of transporting hydrogen using the existing natgas pipeline will be substantially lower than investing in building new networks, Al Abdali said. Using gas pipelines is “by far the most economically viable method” to transport hydrogen, as a “very high energy transportation capacity can be achieved,” according to Siemens Energy. The process is both cost and time-efficient, because it doesn’t require the construction of new infrastructure, CEO of German gas pipeline operator Gascade Christoph von dem Bussche is quoted as saying.

Figuring out how to transport hydrogen is important if we want the tech to take off: Figuring out how to transport hydrogen is key to creating an effective and affordable hydrogen economy, according to a report by the International Renewable Energy Agency (IRENA) picked up by Reuters saying last month. But moving hydrogen — “the universe’s lightest and most energy-dense (by weight) element” — in a way that’s efficient and affordable is “easier said than done,” the newswire wrote.

Major issues to address include cost reduction, increasing energy efficiency, maintaining hydrogen purity and minimizing leakage, notes the US energy efficiency and renewable energy department. Building delivery infrastructure is also a big challenge — requiring time, investment, and the combination of different technologies.

This is why repurposing natgas pipelines is being looked at — especially in Europe: Some members of the European Hydrogen Backbone (EHB) initiative — a group of 31 energy infrastructure operators — are working together to see how thousands of miles of pipelines across Europe could be repurposed to carry hydrogen, and avoid them turning into “stranded assets,” Reuters reported in November 2021. Some 69% of these existing pipelines could be converted for up to USD 94 bn, they estimated at the time.

In MENA, Oman seems to be the only country seriously exploring it so far: Though interest in hydrogen in the GCC is substantial, “the topic of transport is still open,” notes a July 2022 paper by the German Institute for International and Security Affairs. Qatar is currently focused on natgas export for blue hydrogen production overseas, while other countries are “still struggling with the right strategy,” the paper notes. When it comes to Oman’s overall hydrogen strategy, the country is “creating new structures and introducing various projects,” it adds.

But could it one day be on the cards for North Africa too? Existing infrastructure carrying natgas in Algeria and Libya to Europe via Italy and Spain should be leveraged for hydrogen export, argues a June 2021 open access study, published in the book Shaping an Inclusive Energy Transition, edited by academics from Delft University of Technology. Gas transport infrastructure in North Africa and Europe could be used to carry first blue, then green, hydrogen between 2030 and 2035, the study suggests. Alongside this strategy, new hydrogen gas pipeline infrastructure could be built — connecting Egypt and Greece to the main European gas grid in Italy, it adds.


Qatar wealth fund leads EUR 250 mn investment round in French insect protein company

The Qatar Investment Authority (QIA) led a EUR 250 mn series D investment round for Paris-based biotech company Innovafeed, the sovereign wealth fund announced on Tuesday. Innovafeed houses the world’s largest vertical insect farm in France to produce insect-based protein.

Who else was involved? The round was co-led by several investors: Future French Champions, a joint venture between QIA and investment bank Bpi France, Singapore-based PE fund ABC Impact, capital firm Grow Forward, and IDIA Capital Investment. Previous investors global food corporations Archer-Daniels-Midland Company (ADM) and Cargill also joined the mix along with climate-focused investor Creadev and Singapore-owned Temasek.

What exactly does Innovafeed do? It basically tries to replace animal feed with the protein from insects instead of actual animals and plants. The company so far has two insect production farms in France. The protein is then used as nutrition alternatives for plants, poultry, swine, fish and pets.

What does this have to do with climate? Although regenerative agriculture can be carbon negative (taking more out of the environment than it emits), much of the large-scale industrial agriculture that has damaging effects on the environment is designed to produce animal feed. Innovafeed says what it does “streamlines” food production to minimize waste: oil is extracted from insects for poultry and swine nutrition, insect protein nourishes fish, and insect manure makes organic fertilizer.

The investment round will be used for expansion, product development and opening new sites. Innovafeed wants to increase its production capacity and expand its Nesle site in the north of France. It’s also looking to expand into the US with the construction of a new production plant in Illinois and further develop its R&D efforts. Since launching in 2016, Innovafeed secured a total of EUR 200 mn in funding.

This isn’t QIA’s first startup or climate investment In 2020, the fund announced it would no longer deploy new investment in hydrocarbons, and as of 2021, almost 50% of the infrastructure power generation projects in its portfolio are “zero-emission investments”, according to The Peninsula Qatar. On the startup side of things, QIA led a USD 1 bn investment round in German execution management firm Celonis last month, according to a company press release.


Could alternative proteins be the building blocks for a greener MENA? Alternative proteins — meat, egg, or dairy replacement products that are plant-based, cultivated, or fermentation-derived — are seeing rapid global market growth as a substitute for traditional protein sources. They could constitute 7.7% of the global protein market by 2030 — rising to USD 162 bn from USD 29.4 bn in 2020, according to an August 2021 Bloomberg Intelligence report. In fact, by 2040, 60% of protein consumed by humans could be either grown in vats or replaced by plant-based products that resemble meat, a 2019 Kearney report predicted.

(We have deep suspicion about the impact on human health of highly processed frankenfoods such as these — suspicions we’ll get into another day. In all cases, it is clear that a growing number of businesses of all sizes are looking into the sector.)

This growth of the sector involves some cool and cutting-edge tech, note foodtech entrepreneurs the Digital Food Lab. It could range from mixing various plants to produce a meat or dairy-like texture (as is the case with plant-based alternatives), to “growing” meat in a lab (as is the case with cultivation or cellular agriculture), to finding yeast or bacteria that can produce specific protein, or even genetically modifying the yeast or bacteria to create the protein (as is the case with fermentation).

The argument: That traditional meat and dairy production are a big contributors to the emissions driving climate change: The global production of food is responsible for about a third of all GHG emissions from human activity, according to a 2021 study published in Nature Food. 57% of these emissions come from the use of animals for food and livestock feed, compared to 29% from the cultivation of plant-based foods.

Alternative proteins have the potential to dramatically slow climate change, says a March 2022 McKinsey interview with global sector representatives. “Cellular agriculture has the potential to reduce GHG emissions by 78-96% compared to traditional agriculture,” one leader notes. “Alternative proteins are a key climate solution. Tremendous [chances] exist for companies and investors to participate at every point along the value chain,” noted a rep of US NGO the Good Food Institute in late-2021.

The MENA market is still small, but it’s growing: The MENA alternative protein market is expected to reach USD 2.71 bn by 2029, up from an estimated 1.03 bn in 2021, according to Data Bridge Market Research. The MENA meat replacement market stands at roughly USD 180 mn, with a 10% CAGR, while the alternative dairy market stands at some USD 1.2 bn with a 12% CAGR, said the CEO of US-based startup MycoTech, quoted in a February 2022 article. Its whey protein market is expected to grow to some USD 1.38 bn in 2026, up from USD 1.01 bn in 2021, he added.

Recent regional developments could fuel this: A partnership between Qatar and Eat Just will see them build a cultivated-meat facility: US-based startup Eat Just — which makes cultured chicken and vegan eggs from mung beans — is partnering with Qatari state-backed Doha Venture Capital and the Qatar Freezones Authority to build a cultivated-meat facility in Qatar’s Umm Alhoul Freezone, which it claims will be “the first-ever cultivated meat facility in the [MENA] region.” This could take two years and cost USD 200 mn. The Qatari government has already granted it an export license.

There’s a joint venture between the Oman Investment Authority and MycoTech to make mushroom-based protein: MycoTech and the Oman Investment Authority (OIA) agreed to set up a joint venture, Vital Foods Technologies, to use the natural sugar present in dates as carbon to fuel the production of mushroom-based protein. OIA and MycoTech are due to start construction on a production facility in 1H 2023, with commercial operations due to begin in 2Q 2025. The aim is to process some 16k tonnes of dates a year. OIA led a Series E investment funding round in MycoTech earlier this year, which raised USD 85 mn.

And Israeli foodtech firm SavorEat launched a 3D printed burger that’s created on site and is being served at restaurants in Israel. While Impossible Foods and Beyond Meat also offer 3D printed burgers (which are usually frozen and cooked on a grill), SavorEat’s technology allows customers to create their burgers on site using a 3D printer. The burgers, made from potato, chickpea and pea protein, can be customized — with the amount of fat and protein adjusted.


FOOD FOR THOUGHT- Climate-conscious PPPs are the fastest route to net zero, the senior vice president of Mashreq Bank’s energy unit told Zawya in an interview. Climate-smart PPPs will have to be open to adapting in order to strike a balance between energy security, geopolitics and climate change. Badar Chaudhry noted that boosting private investor confidence by de-risking finance and providing government-backed guarantees and joint investments with the support of export credit agencies will be key to accurately predicting the cost of the green transition. He also noted that the bill associated with the green transition “varies hugely” from USD 1.5 tn annually to USD 9.2 tn annually.

UAE universities are looking to dive deeper into green research: Sharjah Research Technology and Innovation Park (SRTIP) and John von Neumann University of Hungary (JvNU) to cooperate on scientific research, technology and culture, reports WAM. Both entities will collaborate with the American University of Sharjah (AUS) to promote green hydrogen, the green economy and green vehicles, including redeveloping JvNU’s Megalux solar car model — one of the university's most successful projects.


  • The UAE will launch Independent Climate Change Accelerators (UICCA), a climate change think tank in the lead-up to COP28 in 2023, according to an announcement on Tuesday.
  • The National Bank of Bahrain (NBB) Group has installed solar panels to power four of its banking facilities and financial malls in Bahrain, according to a statement posted on Tuesday.


Climate change is casting a long shadow over Africa’s coffee industry, reports African Business. Rising temperatures coupled with pests and disease are threatening the coffee industry, burdening smallholder coffee farmers with so-called yield shocks that affect their harvest. With floods and droughts haphazardly spreading across the world, these farmers have limited access to finance to purchase irrigation systems, fertilizers and tools, as well as drought-resistant seed varieties.



25 September-13 October (Sunday-Thursday): Carbon Management Laboratory, Oman Convention and Exhibition Center (OCEC), Muscat, Oman.

25-28 September (Sunday-Wednesday): World Cement Association’s Global Conference, Emirates Towers, Dubai, UAE.

26 September (Monday): “Financing Nature: Pro-Environmental Behavioral Change”, Gerhart Center Webinar Series, online.

27-28 September (Tuesday-Wednesday): Egypt-Spain Multilateral Partnership Forum, Sofitel Gezirah Hotel, Cairo, Egypt.

27-29 September (Tuesday-Thursday): WETEX & Dubai Solar Show, UAE.

28-29 September (Wednesday-Thursday): 8th World Green Economy Summit (WGES), UAE.

28-29 September (Wednesday- Thursday): Saudi Maritime Congress, Dhahran Expo,

Dammam, Saudi Arabia.

28-29 September (Wednesday- Thursday): International Government Communication Forum, Expo Center Sharjah, Sharjah, UAE.

28-30 September (Wednesday-Friday): Ethio Weetex- Water, Energy, Electricity, Renewable (Solar, Wind) Energy, Technology Exhibition, Millennium Hall, Addis Ababa, Ethiopia.

30 September: Deadline to apply for ER2FOOD’s Innovation Support Program for Egyptian Startups.


4-5 October (Tuesday- Wednesday): Green Energy Africa, Cape Town International Convention Center 2, South Africa.

11-12 October (Tuesday-Wednesday): Games for Change Summit in Abu Dhabi, UAE.

16-21 October (Sunday-Friday): Arab Conference of Plant Protection, Le Royal Hotel, Hammamet, Tunisia.

18-20 October:(Tuesday- Thursday): The British University in Egypt’s COP27 Simulation Model, Cairo, Egypt.

21 October (Friday): Symposium on Alternative Low and Zero Carbon Fuels, IMO Headquarters, London, The United Kingdom.

24-26 October (Monday-Wednesday): International Exhibition of Renewable Energies Clean Energies and Sustainable Development, Centre Des Conventions Mohammed Ben Ahmed, Oran, Algeria.

25-27 (Tuesday – Thursday): International Investment Forum for Renewable Energy and Energy Efficiency in MENA, InterContinental, Amman, Jordan.

31 October (Monday-Friday): Deadline for proposals for Jordan’s USD 2 bn Aqaba-Amman desalination project.

Approval of EU draft document pushing countries participating in COP27 to to improve their climate change targets.


Sustainability Forum Middle East is taking place in Bahrain.

Nigeria hopes to secure USD 10 bn support package for green energy transition before COP27.

7-18 November (Monday-Friday): Egypt will host COP27 in Sharm El Sheikh.

23-24 November (Wednesday-Thursday): Global Conference on Sustainable Partnerships, The Ritz-Carlton, Riyadh, Saudi Arabia.

Deadline of bid submissions for the Ras Mohaisen – Baha – Makkah Independent Water Transmission Pipeline in Saudi Arabia.

COP27 sub-events:

Terra Carta Action Forum (2 days) organized by the Prince of Wales’ Sustainable Markets Initiative.

UNFCCC’s capacity building hub.


5-7 December (Monday-Wednesday): Green Hydrogen Summit 2022, Oman Convention & Exhibition Center (OCEC), Muscat, Sultanate of Oman.

13-15 December (Tuesday-Thursday): International Renewable Energy Congress, Hammamet, Tunisia.

15 December (Thursday): The UN’s 15th meeting of the Conference of the Parties to the Convention on Biological Diversity (COP15), Montreal, Canada.


14-21 January (Saturday-Saturday): Abu Dhabi Sustainability Week takes place in the UAE.

16-18 January (Monday-Wednesday): EcoWASTE, Abu Dhabi National Exhibition Center (ADNEC), UAE.

January- October: ER2FOOD’s Innovation Support Program for Egyptian Startups, Cairo, Egypt.


6-8 February (Monday-Wednesday): Saudi International Marine Exhibition and Conference, Hilton Riyadh, Saudi Arabia.

The second edition of The Arab Green Summit (TAGS), Dubai, UAE

MARCH 2023

15-19 March (Wednesday-Sunday): Qatar International Agricultural and Environmental Exhibition, Doha, Qatar.

JUNE 2023

1-3 June (Thursday-Saturday): Envirotec and Energie Expo, UTICA, Tunis, Tunisia.


Chariot Limited and Total Eren’s feasibility study on a 10 GW green hydrogen plant in Mauritania to be completed.


6-17 November (Monday-Friday): The UAE will host COP28.



KSA’s Neom wants to tender three concrete water reservoir projects to up its water storage capacity by 6 mn liters.


Early 2023: Egypt’s KarmSolar to launch KarmCharge, the company’s EV charging venture.

Mid-2023: Sale of Sembcorp Energy India Limited to consortium of Omani investors to close.

Phase C of the 900-MW of the Mohammed bin Rashid Al Maktoum Solar Park in Dubai to be completed.

Saudi Basic Industries Corporation (Sabic) steam cracker furnace powered by renewable energy to come online.


End-2024: Emirati Masdar’s 500 MW wind farm in Uzbekistan to begin commercial operations.

QatarEnergy’s industrial cities solar power project will start electricity production.

First 1.5 GW phase of Morocco’s Xlinks solar and wind energy project to be operational.


Second 1.5 GW phase of Morocco’s Xlinks solar and wind energy project to be operational.

UAE to have over 1k EV charging stations installed.


1Q 2026: QatarEnergy’s USD 1 bn blue ammonia plant to be completed.

End-2026: HSBC Bahrain to eliminate single-use PVC plastic cards.

Iraq’s Mass Group Holding wants to invest EUR 1 bn on its thermal plant Mintia in Romania to have 62% of run on renewable energy, while expanding its energy capacity to at least 1.29k MWh.


MENA’s district cooling market is expected to reach USD 15 bn.


UAE’s Abu Dhabi Commercial Bank (ADCB) wants to provide AED 35 bn in green financing.

UAE targets 14 GW in clean energy capacity.

Tunisia targets 30% of renewables in its energy mix.

Qatar wants to generate USD 17 bn from its circular economy, creating 9k-19k jobs.

Morocco’s Xlinks solar and wind energy project to generate 10.5 GW of energy.


Qatar to capture up to 11 mn tons of CO2 annually.


Qatar’s Public Works Authority’s (Ashghal) USD 1.5 bn sewage treatment facility to reach 600k cm/d capacity.


Nigeria aims to achieve its net-zero emissions target.

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