Thursday, 17 November 2022

EBRD ups stake in Egypt’s Infinity with USD 41.5 mn investment.



Good morning, nice people. It’s day 11 of the summit and as the clock ticks down, there’s no clear agreement on a cover decision in sight.

“I think we have a larger than normal number of lingering issues,” COP27 presidency special representative Wael Aboulmagd was reported by Reuters as saying yesterday. “We would have hoped under the current circumstances to see more willingness to cooperate and accommodate than we are seeing.”

There are at least three stumbling blocks: Loss and damage, fossil fuel usage, and the 1.5°C warming target. There are “deep divisions” among countries on whether wealthy countries should commit to providing funding to cover loss and damage — an issue that emerging markets have been driving (and rich countries dodging) for some time now. COP27 was the first time the climate summit has formally debated the issue. Countries are also reportedly struggling to agree on whether 1.5°C above pre-industrial levels should remain the “explicit targeted limit” for warming and the phase out of fossil fuels— although yesterday’s announcement of G20 support for that goal could increase the chances of consensus at COP, Reuters quoted an unnamed EU official saying.

^^ We have the full story in the news well, below.

And the timeline to avoid 1.5°C of warming? We’re on track to hit it in nine years’ time, according to Nature reports, citing research by the Global Carbon Project, given that global carbon emissions are on track to hit a new record of 37.5 bn tons of CO2 equivalent in 2022 — up 1% from 2021 levels.

ALSO- An Amazonian COP30? Brazil’s president-elect Luiz Inacio Lula da Silva told delegates at COP27 that he wants his country to host 2025’s COP30 in the Amazon rainforest, Reuters reports.

MEANWHILE- It’s solutions day in Sharm, with sessions focusing on accelerating climate change adaptation through innovation, green bonds and carbon markets, resilient health systems, lots of loss and damage, and entrepreneurship.

UP NEXT: Tomorrow is closing day at COP27, with two press briefings in the lineup.

Detailed schedule: Download as a pdf here or check out the website here.

COP27 app for attendees: App Store and the Google Play Store.


From Sharm to the Grand Egyptian Museum — the business community will move the talk about a green transition ahead at the Enterprise Climate X Forum, which takes place at the Grand Egyptian Museum on Tuesday, 6 December 2022. We can think of no better place to discuss the world’s most important industry than in a world-class museum that stands as a testament to our nation’s ability to persevere (and innovate) for seven millennia. And it seems you can’t either, judging by the responses and statements of support we’ve been getting.

What’s the Enterprise Climate X Forum? It’s our first industry-specific conference, where CEOs, top execs, investors, bankers and development finance folks have the chance to talk about how to build a climate-centered business — and how to make sure your business continues to have access to the funds it needs to grow. You can learn more on our conference website here.

Some of the biggest names in business and finance are on board — are you? If you’re a C-suite exec, business owner, climate professional, DFI staff, investor or banker, please email us at to signal your interest, letting us know your name, title and where you work.

WATCH THIS SPACE- Neom may be getting a green hydrogen + ammonia plant: A South Korean energy consortium will reportedly sign an MoU today with Saudi Arabia’s Public Investment Fund (PIF) to build a USD 6.5 bn green hydrogen and ammonia plant in Neom city, South Korea’s Pulse News reports. The public-private partnership will develop the project over five stages, and the plant is expected to yield 1.2 mn tonnes of green hydrogen and ammonia annually.

Not the first: Acwa Power, Neom, and Air Products are all part of a joint venture to develop “the world’s largest utility scale, commercially-based hydrogen facility powered entirely by renewable energy,” according to Acwa Power. KSA also has ambitions to export green hydrogen to Greece and, by extension, Europe.

DATA POINT- Over 50% of cities globally with net zero reporting pledges have no mechanisms in place to track and report their progress, according to analysis published this week by Net Zero Tracker.

Companies are doing a bit better — but still have a lot of room for improvement: Around 75% of the world’s largest 2k publicly-listed companies with net zero pledges have reporting mechanisms of some kind, but “only one-third of the world’s largest publicly-listed companies with net zero targets, meet minimum standards of integrity.”

The bottom line: Pledges alone aren’t enough. Many pledges from state and non-state actors have yet to be firmed up into concrete plans of action that are publicly available and trackable for accountability, the authors say. “Net zero pledges alone are not a sign of climate leadership — they must be accompanied by a deep emission reductions commitment to be meaningful.”

THE DANGER ZONE- Red Sea corals at risk? Egypt’s Ras Shukeir oil terminal is reportedly dumping “barely treated wastewater” in the Red Sea and endangering coral reefs, the BBC reports, citing what it says are leaked documents and analysis of satellite imagery from the area.


Saudi Arabia’s Education Ministry will host its Global Conference on Sustainable Partnerships next Wednesday, 23 November to Thursday, 24 November in Riyadh, bringing together ministers and senior officials from the private and public sectors.

UAE will host The Big 5 Global Construction Impact Summit on Wednesday, 7 December at the Dubai World Trade Centre, bringing more than 2k exhibitors from 60 countries, as well as regional and global construction industry leaders together to discuss ways to meet local and global net zero and waste reduction targets.

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

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.

Enterprise Climate is published at 4am CLT / 5am Riyadh / 6am UAE Monday through Thursday by Enterprise, the folks who bring you Enterprise Egypt, your essential 6am and 3pm read on business, finance, policy and economy in Egypt and emerging markets.

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EBRD increase stake in Egypt’s Infinity with USD 41.5 mn investment

EBRD ups stake in Egypt’s Infinity: The European Bank for Reconstruction and Development (EBRD) is increasing its stake in Egyptian-headquartered renewable energy player Infinity through a USD 41.5 mn investment, the bank said in a statement yesterday. The EBRD did not disclose the size of its stake in Infinity following the investment. The bank had previously become a shareholder after investing USD 60 mn in the company in 2020. Our friends at Infinity declined to comment on the transaction when we spoke yesterday.

Where will the funding go? Primarily toward Infinity’s expansion plans in Egypt and other countries, as well as potential acquisitions, the statement said. An undisclosed portion of the funding will be used for Infinity’s acquisition of African renewables player Lekela Power, which is expected to close in 1Q 2023.

EBRD is a longtime investor in the regional renewables sector — and has stepped up its already-significant commitment to Egypt: The news comes days after the lender committed USD 1.3 bn including “USD 1 bn of private renewable finance, USD 300 mn in sovereign finance and grants of USD 3 mn from its shareholder special fund,” to help Egypt decarbonize its power infrastructure and install new renewable energy capacity. The lender is heading up the energy pillar in Egypt’s newly-launched Nexus on Water, Food and Energy (NWFE).


Infinity subsidiary Infinity Power, is building two green hydrogen production plants, one in Egypt’s Suez Canal Economic Zone and the other on the Mediterranean, as part of a consortium including Egypt’s Hassan Allam Utilities and UAE’s Masdar, the company said in a statement (pdf) yesterday. The plants will produce up to 480k tons of green hydrogen a year, with the SCZone facility set to be the first to come online in 2026.

The two facilities together have an electrolyzer capacity of 2 GW, with a target to extend it to up to 4 GW by 2030 to produce green ammonia for export, the statement said, adding that it could also supply green hydrogen to local industries.


A lot of renewables for Egypt = a lot of investment to drum up

With agreements inked, Egypt now has to lock in financing: Egypt signed initial agreements for green hydrogen and wind power projects worth up to USD 119 bn during COP27, according to an Egyptian cabinet statement. The 28 GW-worth of wind power agreements Egypt has lined up will — if they all get off the drawing board — demand investment of some USD 34 bn. The nine green hydrogen and ammonia facilities framework agreements the country signed will together cost as much as USD 85 bn, the statement read.

Who is paying for what? All of the projects are in the early stages of development, so there is no breakdown on how they will be financed yet — and still no public handicapping of which are most likely to attract finance. You can expect most of them to be looking for a mix of funding from development finance institutions (DFIs), multilaterals, banks, and public funds. The climate finance roadmap laid out during COP27 through its Nexus for Water, Food, and Energy (NWFE) program and the Sharm El Sheikh Guidebook for Just Financing will be guides to how policymakers look at the funding question.

There’s also the issue of whether Europe might provide producer subsidies to Egypt for green energy (ammonia and hydrogen in particular) destined for export to the European Union, a question we raised with OCI and Fertiglobe CEO AHmed El Hoshy (see interview, below).

DFIs are already stepping up to the plate: Development finance institutions including the European Bank for Reconstruction and Development have already signaled their interest in the newly announced projects, while the US, Germany and other European countries have pledged to provide more than USD 550 mn to support Egypt’s clean energy transition under NWFE, which the Egyptian government launched in July to channel finance into green projects. Agreements signed last week are expected to unlock USD 15 bn from private investors and DFIs to help Egypt decarbonize its power infrastructure, and strengthen its food and water security.

REFRESHER- Egypt has signed framework agreements for nine green hydrogen and ammonia facilities in the Suez Canal Economic Zone, which would collectively produce up to 4.6 mn tons of green ammonia and 2.7 mn tons of hydrogen a year when fully operational. Egypt also lined up 28 GW of wind projects in the past week, equivalent to nearly half of the country’s total installed power generation capacity — plus another 1.5 GW wind farm that the Egyptian Natural Gas Holding Company (EGAS), General Electric and subsea robotics firm Seasplit Technologies are currently studying.


The Enterprise Climate CEO Poll: OCI N.V. and Fertiglobe’s Ahmed El Hoshy

Enterprise Climate CEO Poll- Ahmed El Hoshy, OCI N.V. and Fertiglobe: With all eyes on Sharm El Sheikh as COP27 continues, Enterprise Climate and EnterpriseAM are presenting our inaugural Climate CEO Poll, a series of interviews with CEOs discuss key issues including climate finance, regulation, and the green economy.

Ahmed El Hoshy (LinkedIn) is the CEO of OCI NV and Fertiglobe, the joint venture between OCI and Adnoc. Euronext-listed OCI is one of the world’s top producers and distributors of hydrogen-based products, including ammonia, nitrogen fertilizers and other nitrogen products, methanol and bio-methanol, with a four-continent footprint and a production capacity of 16.2 mn metric tons per annum (MTPA). Fertiglobe is the world’s largest seaborne exporter of urea and ammonia combined and the largest producer of nitrogen products in MENA, with a combined production capacity of 6.7 MTPA of urea and merchant ammonia. We talked to El Hoshy about green hydrogen, decarbonization, and what he thinks would be the best outcome of COP27.

Enterprise: Let’s start at the top — what’s green hydrogen and how does it relate to your core ammonia and methanol businesses?

Ahmed El Hoshy: Green hydrogen is the low-carbon fuel of the future, it’s as simple as that. It’s particularly important when we look at how to decarbonize hard-to-abate sectors, such as general industrials, marine transportation, power generation, food production, and agriculture.

As things stand today, green hydrogen makes up a negligible fraction of global hydrogen production — much less than 5% of all hydrogen being produced. Gray hydrogen is the dominant form in the market today, and around 50% of it is used to produce ammonia and methanol. When you look at it, ammonia and methanol are the keys to the green economy transition — they can deliver hydrogen via existing pathways and infrastructure, making it much, much faster to quickly reach our decarbonization goals.

The problem with hydrogen is that it’s very difficult, by itself, to store and transport — its boiling point is -253°C. So as gas, you’re storing this under incredibly high pressure, and as a liquid, you’re looking at cryogenic temperatures — really, really cold.

That’s where ammonia comes in — it’s an ideal carrier for hydrogen with a boiling point of just -33°C and there’s plenty of transport and storage infrastructure already in place all around the globe. That makes it one of the most efficient ways to transport green hydrogen. It has a much higher energy density and is less energy intensive to produce and store.

To transport hydrogen over long distances, you need to use stable derivative such as ammonia, LNG or methanol. That’s one of the reasons we think that ammonia and methanol have huge potential to decarbonize shipping, replacing diesel, fuel oil, and other fuels that emit greenhouse gases when combusted.

This becomes even more relevant when we start pricing carbon — when that’s taken into account, ammonia and methanol are the shipping, power and vehicular fuels of the future.

E: Where is green hydrogen in your business model?

AH: We realize that decarbonization is not a “nice to have,” it’s central to our strategy. You can call it luck or call it skill, but we happen to be in the ammonia and methanol industries, two industries that the consensus now agrees play a significant part in our energy future.

And frankly, it’s exciting. For Europe and Egypt in particular, the situation we have before us today is win-win. Egypt is an ideal place to generate renewable energy and because it is right next door to Europe, we can not only help European countries move towards their energy independence, but we can also help them decarbonize and deliver on their climate goals at the same time.

In MENA, Fertiglobe has four production locations — two in Egypt, and one in each of Algeria and Abu Dhabi. OCI has five more — two in the Netherlands and three in the United States. With that global footprint, we think we’re ideally positioned to drive, and be part of the green economy going forward.

We have decarbonization initiatives running at every single plant. We’re moving from fueling plants with natural gas and generating CO2 emissions, to looking at capturing that CO2 and using green hydrogen rather than natural gas. And as we do that, we’re uniquely positioned: We have the youngest global asset base in our industry, and that gives us the potential to deliver the lowest emissions of any global portfolio.

What’s more, our portfolio is in the right geographic locations. We’re in Beaumont, Texas, on the Gulf Coast. We’re in Rotterdam, the key European seaport. We’re in Abu Dhabi and Algeria. And we’re in Egypt right at the foot of the Suez Canal. That’s a list that includes three of the four largest bunkering destinations in the world.

Being globally present with this platform means that we can deliver network effects over time at the same time as we convert infrastructure that today produces gray ammonia into infrastructure for green ammonia.

The plant we just started commissioning in Egypt is the first phase of a plant that will produce green hydrogen and green ammonia — we’re very excited about it. It is the first of its kind in Africa. Fertiglobe is studying building another green hydrogen plant in Abu Dhabi in collaboration with Masdar and Engie and at a 1 mn ton per annum low-carbon ammonia plant in Abu Dhabi with partners includign Ta’ziz (an Adnoc-ADQ joint venture), GS Energy, and Mitsui. In Europe, OCI is involved in the NortH2 plant as an off-taker of green hydrogen from the North Sea, while in the United States, we have several low-carbon projects underway including a new blue ammonia facility in Texas.

E: We’ve seen a scramble in Egypt and other regional players (KSA, the UAE) to line up investment in green hydrogen and ammonia. How many of these early-stage agreements do you think will become plants?

AH: I think it’s good to be optimistic. It’s good to see the players and ideas that are out there. But to do a pure greenfield? That’s been our business for more than 20 years, and I can tell you that the economics are difficult to make it work. It’s difficult to bring it all together when you consider interest rates for project finance and the challenge of finding off-takers for low-carbon products, to name just two of the factors that need to be in place.

We talked about this at the Hydrogen Council, which I am a member of: We’re seeing plenty of projects announced globally despite rising interest rates, but less than 10% of those projects in general get to the stage of final investment decisions, in my view.

E: Why do you think that is?

AH: There needs to be a carrot and stick approach to improve the economics of these projects. This means support in the form of grants or subsidies that make projects more attractive. Or a mandate — ideally, both. Legislation that requires businesses to meet certain low-carbon targets by “x” date or be charged “y” amount for its emissions. It’s a challenge to line up a big emitter as an off-taker unless there’s a clear incentive for them to do it. We need to create the demand for the supply side to fill. Having supply available will not, by itself, create demand.

E: Does the Biden administration’s subsidy of USD 3 per kg help or distort the market, then?

AH: I think the Inflation Reduction Act definitely helps. But really, I think what the industry, policymakers and regulators need to do is look at the existing ammonia industry. It’s global. There are existing plants and storage facilities. There are loading facilities and trading businesses and vessels to handle it.

How can we decarbonize that one piece at a time? How do we go from zero to 5% and then to 10% and 15% — and do it economically, not all from scratch. Everyone needs to learn lessons on how to work together with governments to create schemes that make sense. On building a market. And on certification.

Breaking things down into discrete chunks makes it all about action, not about kicking the ball down the line to some idyllic future. By taking steps one project at a time, we will build knowledge and more effectively reach a stage where some of the grander ideas we’re seeing now make practical sense.

E: What’s the key, then? Regulatory change even before incentives?

AH: Absolutely. As incumbents with existing infrastructure, we find that there’s a lack of clarity on issues such as mass-balancing and co-production. Not everyone will be familiar with those terms, so I’ll explain.

Let’s say, for example, that you have a 1 MPTA ammonia plant. You start using 10% green hydrogen and make it 90% gray instead of 100% gray. Do you now have a product that’s certified 10% green? Certainly not in Europe, where the way the mechanics work today is that we look at the whole plant’s emissions and not the feedstock. That makes it very tough for an incumbent to make a decision to partially decarbonize.

It is important to resolve this because it’s tough to go from zero to hero — to go fully green. But why can’t we have a proper, safe certifying mechanism that allows a producer to sell into Europe something that is 10% green and be charged 90% of the carbon tax and not 100%? The jury is still very much out on what that looks like. But we need to not let the perfect be the enemy of the good by giving existing producers a pathway to decarbonize — and by creating an approach to certification that allows mass-balancing and co-processing to happen.

E: Circling back those US producer subsidies: Could you see a day when the EU, for example, provides funding to Egypt to subsidize production destined for EU markets?

AH: Egypt has clear competitive advantages in green hydrogen, and what you want as the European Union — as the US and developed countries — is to support that. One of the biggest costs of green hydrogen is the cost of renewable energy. Egypt has the best solar and wind corridors in the world, and 97% of us live on 3% of land, so there’s plenty of space. The Mediterranean-Red Sea corridor is a huge advantage.

But when subsidies tip the scale in favor of US producers, we’re going to need support here to be competitive and move projects forward. Support from Europe and other partners can do that.

The Biden administration’s IRA is something of a double-edged sword. It’s a change in the right direction, and other countries realize that — the US has just given huge incentives for low-carbon hydrogen projects. Canada, for example, is now following in the same footsteps and discussing investment tax credits for low and no-carbon industries.

At the same time, it creates complexity for projects in the Middle East, Australia and Latin America. It’s kind of taken the wind out of the sails of some of the projects there.

But again: The IRA won’t create demand. There needs to be demand incentives on the other side for supply and demand to align. And as I said earlier, we still need global alignment on certification.

E: If you were starting a new climate-related business today, what would it be?

AH: I think there are several areas that look really interesting. The first is building businesses that create trust via proper certification — to help weed out noise and create a platform for governments and businesses to communicate about what’s trustworthy and fair.

Then, if your pockets are deeper, I would look at how to solve long-term technical challenges such as direct air capture of carbon and sustainable aviation fuel.

E: What would make COP27 a success from your point of view?

AH: An agreement that we need to level the playing field. COP27 has been a great platform for governments and the private sector to exchange thoughts. It’s helping decrease the noise and focus on what governments and regulatory bodies can do to help get low-carbon supply and demand off the ground.

Ultimately, we need to create a situation where the economics prevail and which also results in a remarkable reduction in emissions over time. To build real momentum, we need a balanced approach to incentive and requirement — the carrot and the stick.


G20 commits to 1.5°C pledge, urges COP27 delegates to put their noses to the grindstone by Friday

As G20 commits to 1.5°C pledge, the pressure is on COP27: G20 leaders gathering in Indonesia agreed to work on limiting the rise in global temperatures to 1.5°C and speeding up efforts to “phase down” coal in what’s being lauded as a “boost” to ongoing COP27 talks in Egypt, Reuters reports. The news comes as global leaders at COP27 have continued to clash over efforts to reaffirm the 1.5°C goal during talks, negotiators from several industrialized countries tell the New York Times.

G20 countries urged delegates at COP27 to “scale up” efforts on the issue of mitigation and adaptation, giving a push to developed countries to meet their pledge to provide developing countries with USD 100 bn a year for climate mitigation. The G20 statement also reaffirmed the global goal to phase out “inefficient fossil fuel subsidies.”

The COP27 host welcomed the declaration: “There are very strong elements and commitments, and reiterations of previous commitments,” special representative for the COP27 presidency Wael Aboulmagd said in a news conference following the declaration, according to Reuters.

REMEMBER- A proposal by India to “phase down” all fossil fuels has been gaining momentum, with backing from the EU, small island states, and the UK reportedly almost locked in ahead of the COP27 Egyptian presidency’s cover decision, which is expected this week.


The EU has signed an MoU with Egypt to establish a “strategic partnership” on renewable hydrogen to help support Egypt’s clean energy transition. The agreement will serve as a “framework to support long-term conditions for the development of a renewable hydrogen industry and trade across the EU and Egypt, including infrastructure and financing” helping both sides achieve goals. The partnership will help the EU reach its goal of securing a supply of 20 mn tons of renewable hydrogen by 2030, as the EU looks to import “renewable hydrogen and its derivatives” from Egypt. In exchange, Egypt will get help facilitating investment in renewables and accelerating its decarbonization progress, according to the document.

The two sides are setting up an EU-Egypt Hydrogen Coordination Group and will organize a business forum to allow representatives from industry, regulators, financial institutions and experts to lead implementation.


A joint letter of intent was signed between Egypt and the EU for up to EUR 35 mn for energy projects under its Nexus on Water, Food and Energy (NWFE) program, according to a separate statement from Egypt’s International Cooperation Ministry. The funds will be directed to the European Reconstruction and Development Bank (EBRD) to bolster investments in renewable energy and support the transition towards green economy and low-carbon development.


The right of African countries to use their natgas reserves for development should be enshrined in any COP27 agreement, African Development Bank President Akinwumi Adesina told Reuters. “Africa must have natural gas to complement its renewable energy,” he said, arguing that even if the continent tripled its current production of natgas, it would only see a 0.67% increase in its contribution to global emissions. Several of Africa’s leaders argue that fossil fuels — and in particular, natgas — are still needed to meet energy demands, as renewables remain intermittent.


  • Jordan and the UAE signed an MoU to develop a 2 GW wind power project in Jordan and will now begin conducting feasibility studies, according to Zawya.


Good news for Morocco’s Xlinks project, possibly bad news for the UK

Morocco’s Xlinks scores new investment: German energy consultancy Conenergy is investing an undisclosed sum in the USD 18 bn Morocco-UK Xlinks solar and wind energy project under a “financial and strategic partnership,” the firm said in a statement.

Who are the investors already on board? Xlinks — whose board members include Acwa Power’s CEO Paddy Padmanathan — had in May raised an investment of undisclosed size from UK-based energy supplier Octopus Energy Group, in addition to securing commitments from undisclosed development finance institutions.

REFRESHER- The Xlinks renewable energy project in Morocco is set to generate 10.5 GW of solar and wind energy from just one project and on-site battery storage by 2030. Some 3.6 GW of electricity should be making its way to the UK through four sub-sea cables stretching 3.8k km — potentially the world’s longest undersea electric cable connection. When completed, it is expected to supply 8% of the UK’s electricity needs.

But the UK’s “slow” negotiations could push Morocco to divert the energy elsewhere. In an interview with The Times, Xlinks Executive Chairman Sir Dave Lewis said that talks with the UK government on the project are “frustratingly slow” and that the energy could end up going elsewhere if the country does not commit to details soon.

The best case scenario for Xlinks: The project could be completed by 2030 if the UK delivers an assurance next year that consumers will pay a fixed price of GBP 48 per MWh for the power delivered, Lewis said.

Morocco is casting a wider net: The country signed an agreement with the EU to establish a “green partnership” that would see cooperation and “investment in green technology, renewable energy production, sustainable mobility, and clean production in industry.” It also recently signed an MoU with France, Portugal, Spain and Germany to facilitate cross-border renewable corporate power purchase agreements and financial and technical cooperation.


Morocco is among the world’s top performers on net zero targets: Morocco has come in eighth on a list of 64 countries including top performers like Denmark, Norway, and Sweden, according to The Climate Change Performance Index of 2022. The North African country scored “very high” ratings across categories including GHG emissions, renewable energy projects, energy use, and climate policy.


  • Our friends at tech conglomerate e& — formerly Etisalat Group — have committed to net zero operations by 2030, according to a statement.
  • Turkey will raise its 2030 greenhouse gas emissions reduction target to 41% below the business as usual scenario, from 21% previously, Reuters quotes the country’s Environment Minister Murat Kurum as saying.


Watch a timelapse of climate change in Australia and Africa: The Patterns of the Past — the Promise of Tomorrow is a 9-minute film showing the impact of climate change using four years worth of via satellite imagery from the Digital Earth Australia and Digital Earth satellite platforms. Both continents have rich biodiversity and face similar climate-related challenges like water scarcity, desertification, and coastal erosion. The short film’s time-lapse format shows clearly how climate change has impacted wetlands, rivers, and salt lakes in both locations. The film was commissioned by Geoscience Australia and the Australian Department of Foreign Affairs and Trade to bring attention to the role satellite platforms play in monitoring climate-induced shifts in waterbodies and desertification levels, both of which impact food and water security.



7-18 November (Monday-Friday): Egypt hosts 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.


6 December (Tuesday): Enterprise Climate X Forum, Cairo, Egypt.

7 December (Wednesday): The Big 5 Global Construction Impact Summit, Dubai World Trade Center, Dubai, UAE.

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.


10-12 January (Tuesday-Thursday): The Future Minerals Forum, Riyadh, Saudi Arabia.

13 January (Friday): The International Renewable Energy Agency’s Youth Forum, Abu Dhabi, UAE.

14-21 January (Saturday-Saturday): Abu Dhabi Sustainability Week, Abu Dhabi, UAE.

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

16-18 January (Monday-Wednesday): World Future Energy Summit, Abu Dhabi National Exhibition Center (ADNEC), UAE.

January 2023: Bid submission deadline for green hydrogen projects to Hydrogen Oman (Hydrom).


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

21-22 February (Tuesday-Wednesday): The Arab Green Summit, Dubai, UAE.

21-23 February (Tuesday-Thursday): World Environment, Social and Governance (ESG) Summit, 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.


2-4 October (Monday-Wednesday): WETEX and Dubai Solar Show, Dubai World Trade Centre, Dubai, United Arab Emirates.


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.

1Q2023: Oman will award two blocks of land for green hydrogen projects in Duqm, Oman.

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.

4Q2023: Oman to award four blocks of land for green hydrogen projects in Thumrait, Oman.


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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