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SOLAR-
Saint-Gobain breaks ground on solar-powered glass factory: Frenchconstruction material manufacturer Saint-Gobain has broken ground on a glass production plant worth USD 699 mn in Egypt’s Sokhna Industrial Zone partially powered by a 10 MW solar farm, according to a statement released on Thursday. The solar plant — Saint-Gobain’s third facility in the area — is expected to reduce annual emissions by 6k tonnes.
PVH to supply Saudi’s Ar Rass 2 with 1 GW solar trackers: Solar tracker manufacturer PV Hardware (PVH) will provide Saudi Arabia’s Ar Rass 2 Solar PV Park with 957 MW of its solar trackers, according to a Thursday press release. PVH Middle East will manufacture parts locally for the project, whose contractor is engineering firm Larsen and Toubro.
RENEWABLES-
Positive Zero sets its sights on UAE + Oman: Dubai-based decarbonization firm Positive Zero and Schneider Electric have inked an agreement to ramp up the adoption of clean energy technologies in the UAE and Oman, according to a statement (pdf) released on Thursday. The agreement will see the two companies cooperate on distributed microgrid projects, clean mobility solutions, energy efficiency, and sustainability.
Fast facts: The global energy-as-a-service market is expected to cross USD 112 bn by 2030 on the back of a heightened adoption of distributed energy resources and green solutions, the press release adds, citing SkyQuest Technology. American multinational investment firm BlackRock pledged a USD 400 mn investment in Positive Zero in December 2023.
DESALINATION-
Korea’s LG Chem to supply Morocco with desal tech: South Korean chemical company LG Chem has secured a contract to supply desalination devices to Moroccan state-owned fertilizer and phosphate company OCP Group, Yonhap News Agency reported on Thursday. The company will provide 18k reverse osmosis (RO) membranes to Jorf Lasfar industrial complex, operated by OCP Group, by May. The membranes will be used to desalinate 90 mn tons of seawater annually that will serve up to 1.9 mn people in Morocco, including residents near the complex, and for use in fertilizer production.
GREEN FINANCE-
Saudi fintech Cashin KSA and Dubai-based software developer Fils are partnering on climate-geared payment solutions in Saudi Arabia, according to a statement released on Thursday.The collaboration will give Cashin KSA’s network of merchants across Saudi Arabia access to Fils’ payments platform, where merchants will be able to track their environmental impact and use carbon-credits to offset their carbon footprint.
Not the first carbon offsetting platform for Fils: Fils previously partnered with Saudi SME fintech Geidea to allow its merchants to estimate emissions from certain transactions and invest in carbon credit projects. The company also signed an agreement with Emirati banking group Mashreq in January to launch a carbon credit trading platform to help their banking clients slash greenhouse gas footprint.
OTHER STORIES WORTH KNOWING ABOUT THIS MORNING-
- UAE’s Barakah nuclear plant’s 4th reactor connected to grid: Unit 4 of the Barakah Nuclear Energy Plant has been connected to the UAE’s transmission grid, providing 1.4 GW of carbon free electricity. The plant’s third unit, which also added 1.4 GW, began commercial operations last month. (Statement)
- KSA approves JV for waste management in Madinah: Saudi Arabia’s competition authority has approved a joint venture between the investment arm of Madinah Regional Municipality, Al-Maqar Development Company (Almqr), Akam, and Beeah to develop waste management for the Saudi city of Madinah. Beeah and Almqr teamed up before on a similar project with the Saudi Investment Recycling Company. (Arab News)
