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SOLAR-
Jordan makes big push into its renewables’ household sector program: The Jordan Renewable Energy and Energy Efficiency Fund (JREEEF) signed 20 agreements to partner with charitable and cooperative associations in installing 4k solar energy systems and 5k solar heaters around the country by the end of the year, according to a statement. The non-governmental partners would serve as financing windows for the 2024/2025 household sector program, which is supported by a 30% subsidy from the ministry.
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Jordan recently announced tax exemptions for green tech: Jordan’s cabinet approved new rules exempting renewable energy and energy efficiency equipment from customs duties and general sales tax in August. Part of the new regulations encourage households and businesses to install on-site solar power generation capacities. The new policy will give tax exemptions to solar and wind energy equipment and materials including metal bases, cables, and transformers. Energy storage systems, concentrated solar power equipment, energy auditing services, solar water heating systems and their equipment, and insulation materials, were also added to the list of eligible products.
STARTUP WATCH-
Mega Green Accelerator selects winners after demo day: The Mega Green Accelerator — a collaboration between PepsiCo, Sabic, and AstroLabs — has chosen a winner from the eight MENA startups they’ve been backing based on demo presentations, according to a statement. In first place, with a USD 100k award, came Egypt’s Greenalystics (Viridia Tech) which compiles crop analytics at scale for industrial agriculture companies to increase efficiency. Second place was given to Saudi Arabia’s Mirai Solar — which specializes in foldable solar tech for various industries — along with USD 30k in funding.
What is the Mega Green Accelerator? The program chose eight startups in May to assist with funding, mentorship, and market access over the course of six months. The accelerator initially received 363 submissions for projects with a focus on the energy transition, food security through water and agricultural technology, and growing the circular economy.
OTHER STORIES WORTH KNOWING ABOUT THIS MORNING-
- KSA’s Tetra Pak cuts emissions by 20% overall: Saudi-based food processing and packaging solutions company Tetra Paka has achieved a 20% reduction in greenhouse gas emitted from its total supply chain and a 47% reduction in direct operational emissions since 2019. The company is aiming for a 2030 net zero target. (Statement)
- Visa expands partnership with Emirates Nature-WWF to promote sustainable farming: Visa has collaborated with Emirates Nature-WWF to explore innovative sustainability solutions, focusing on cultivating native Shu’a trees – known for their low water needs and soil benefits – in the UAE. Visa would also support local farmers with financial education and market access resources to enhance their agri-business value chain. (Statement)
