The UAE and Turkey have agreed to expand cooperation in the renewables and green fuels production sectors, Wam reported last week. The UAE’s President Mohammed bin Zayed Al Nahyan and Turkish counterpart Recep Tayyip Erdogan inked an agreement that will see both countries pour in “large scale investments” across the renewable energy, green hydrogen, hydroelectric power production sectors, as well as finance transmission projects and battery storage facilities. Both countries also want to expand cooperation on nuclear energy production and emerging technologies including carbon capture, storage and utilization, the news agency notes.

Turkey has big renewables targets: Turkey revealed a new national energy plan in January, increasing the quota of renewable energy generation in its energy mix by 7 percentage points by 2035 to 23.7% — up from 16.7% in 2020. The country aims to generate an ambitious 190 GW of clean power by 2035 to help realize its net zero commitment and is eyeing a green hydrogen electrolyzer generational capacity totaling 2 GW in 2030, increasing to 5 GW in 2035.

OTHER STORIES WORTH KNOWING ABOUT THIS MORNING-

• The Export-Import Bank of the United States (EXIM) and the Bahrain Finance and National Economy Ministry will sign an MoU to facilitate EXIM funding of US exports to the kingdom for energy efficiency, carbon capture, and energy transition projects. (Statement)