Japan’s Jera, UAE’s Taqa to explore renewables development: Japan’s power generation company Jera signed an MoU with Abu Dhabi National Energy Company (Taqa) to jointly explore the feasibility of low-carbon thermal energy, ammonia, and green hydrogen production projects in MENA, according to a company statement. The timeline and financials were not disclosed, nor were the countries both companies are eyeing for potential investments.

Not Japan’s first foray into MENA renewables: Jera signed an MoU with Mubadala-owned renewables firm Masdar in January to explore joint hydrogen production potential. Adnoc CEO — and newly-appointed COP28 President — Sultan Al Jaber also signed an agreement in the same month for bilateral cooperation on decarbonization technology with Japan’s Minister of Economy, Trade and Industry, Yasutoshi Nishimura.

Taqa is drumming up capital to fuel expansion plans: The company revealed plans to issue “several USD hundred mn” of green bonds in 2023 for specific projects earlier this week. Taqa aims to sell bonds, acquire assets, and expand in both its core industries — power generation and desalination — and nascent sectors like renewable energy, in line with its overall growth strategy.