UAE is aiming big for Brazil: Abu Dhabi’s Mubadala Capital-backed Acelen will invest up to USD 2.4 bn over the next 10 years to produce green diesel and sustainable aviation fuel in Brazil, according to a statement released on Saturday. The new biorefinery in Brazil’s northeastern state of Bahia will have the capacity to produce up to 1 bn liters per year of hydrotreated vegetable oil (HVO), a diesel-like fuel that can be produced from various vegetable oils and animal fats. Production will start in the first quarter of 2026, the statement said, adding that the plan will make Acelen one of the largest producers of renewable fuels globally.

And that’s not all, folks: Brazilian President Lula da Silva and UAE President Sheikh Mohamed bin Zayed Al Nahyan to deepen the partnership between the two countries in key sectors including renewable energy, sustainable development, climate action, food security, and agriculture, according to a joint statement following Lula’s visit to Abu Dhabi.

SPEAKING OF BRAZIL- Brazil has restored diplomatic ties with China, giving a boost to cooperation in environmental protection and climate change coping mechanisms, Reuters reported on Friday. Lula and Chinese counterpart Xi Jinping also agreed on the necessity of climate change mitigation investments from developed countries during the state visit. However, the visit fell short of commitments from Beijing to support clean energy and green hydrogen production in Brazil with no agreement announced on a bilateral green investment fund that the latter was hoping to seal.