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GREEN FINANCE-
World Economic Forum launches playbook to boost clean energy investments in emerging markets: The World Economic Forum (WEF) has introduced the Playbook of Solutions, a digital platform that comprehensively showcases policy measures, finance mechanisms, and de-risking solutions that have unlocked capital for clean energy in 47 emerging and developing economies, Wam reported last week. The playbook is designed to guide governments, development finance institutions, and the private sector in accelerating clean energy investments in the Global South. To meet the goal of tripling renewable energy by 2030, annual investments must increase five to seven times, reaching at least USD 1.7 tn.
Egypt was recognized for its “holistic” transition strategy: Egypt’s efforts were hailed in the report which centered Egypt as a “ success” case study in energy transition alongside three other emerging economies, giving a few nods to Egypt’s multiple policy and regulatory frameworks, as well as its financing strategy that leverages diverse sources.
SOLAR-
Emirates Airlines taps DEWA for solar project: Emirates Airlines has recruited Etihad Clean Energy Development(ESCO) – a unit of Dubai Electricity and Water Authority – to build a large-scale solar photovoltaic project at its Emirates Engineering Centre in Dubai, according to a press release. Just under 40k solar panels will be installed to cover 37% of the center’s energy needs while reducing annual carbon emissions by13k tons. Esco will handle the development, engineering, procurement, construction, testing, and commissioning, as well as 20 years of operations and maintenance. The center – announced in 2023 and planned over 1 million square metres to support the airline’s needs into the 2040s – aims to prop up the UAE’s aviation infrastructure and further attract global players within the aviation industry supply chain.
WATER MANAGEMENT-
SFD + Global Water Organization agree to support global water projects: The Saudi Fund for Development (SFD) and the one-year-old Saudi Global Water Organization have signed an MoU to develop a framework to finance water projects around the world, according to a press release. The partnership will make use of the fund’s experience, having already equipped over 8.8k water facilities in Africa.
OTHER STORIES WORTH KNOWING ABOUT THIS MORNING-
- Ceer + Eviq to expand Saudi EV ecosystem: Saudi Arabia’s first electric vehicle company Ceer is partnering with EV infrastructure firm EVIQ to install and expand the country’s EV charging infrastructure. (Asharq Al Awsat)
