TODAY: Algeria wants in on the SoutH2 Corridor project

Good morning, ladies and gents. The news cycle is experiencing a mid-week lull, but we have the latest on Algeria’s interest to join the SoutH2 Corridor project along with a deep dive into the global outlook on renewable energy deployment meeting the target set by COP28. Shall we?

WATCH THIS SPACE-

#1- Test flights for the eVTOL aircrafts Saudi Airlines purchased from Germany’s Lilium are set for February 2025, a Saudi Airlines official spokesperson told Asharq Al-Awsat. The tests will be followed by training pilots and developing infrastructure until deliveries begin to trickle in by 2H 2026, spokesperson Abdullah Al-Shahrani said during the Global Logistics Forum in Riyadh. Delivery of the entire fleet will take over six years, Al-Shahrani added.

ICYMI- Saudi Airlines is getting 100 eVTOLs: The company finalized an agreement with Lilium in July to purchase 100 eVTOL aircraft. This transaction includes 50 confirmed orders and 50 optional ones, with the first deliveries expected in 4Q 2026.

A maintenance agreement is also in the works: Saudi Airlines is scheduled to sign a deal with Lilium’s customer service organization Lilium POWER-ON for aircraft fleet maintenance and other support services.

#2- Another wind energy breakthrough by Dongfang: China’s Dongfang Electric has developed a mega offshore wind turbine with a record-breaking capacity of 26 MW, surpassing the previous record of 18 MW, Bloomberg reports. The new turbine is 31% larger than its predecessor, and its blades span 310 meters in diameter. This development is part of a broader trend among turbine manufacturers to increase the size of offshore equipment, aiming to reduce costs by generating more power from fewer units. China’s CRRC also revealed last week its production of the largest floating offshore wind turbine, with a capacity of 20 MW.

The company is active in the region: Dongfang – which developed what was dubbed last summer as the world’s largest semi-direct drive offshore wind turbine – partnered with Saudi’s SEP Fab Plant last year to localize renewable energy technology.

KUDOS-

Forbes names Middle East’s 2024 Sustainability Leaders: Forbes has released its Middle East Sustainability Leaders 2024 list featuring leading individuals and companies. The UAE came out on top with 54 companies on the list, followed by Saudi Arabia and Egypt with 20 and 10 companies each. Qatar came fourth with eight companies, followed by Bahrain and Kuwait with five each, and three in Oman. The assessment criteria involved an analysis of sustainability and ESG reporting across the region, and looked at improvements in emission reductions, renewable energy and energy efficiency, and management of waste, water, and other resource.

Who made the list? The top spots from each sector included Masdar’s Mohamed Jameel Al Ramahi, Jasim Husain Thabet of Taqa Group, PIF’s Yasir Othman Al-Rumayyan, Aramco’s Amin H. Nasser, Neom’s Nadhmi Al-Nasr, and DP World’s Sultan Ahmed bin Sulayem.

DANGER ZONE-

Earth’s natural carbon sinks are under threat as temperatures rise: Last year’s hottest year recorded saw a significant breakdown in land carbon absorption due to increasing temperatures, droughts, and wildfires, The Guardian reports, citing new research (pdf). Ocean carbon uptake is also slowing as Arctic ice melts and temperatures rise, disrupting the ecosystem of carbon-capturing algae-eating marine organisms, such as zooplankton. The research warns that the possible collapse of natural carbon sinks is not factored into most climate models, raising the alarm that we could even see more accelerated global heating.

What does this mean for climate goals? Without nature’s ability to absorb carbon, achieving net-zero emissions becomes nearly impossible, the newspaper writes. At least 118 countries rely on natural sinks to meet their climate goals, and weakening these systems could accelerate global warming beyond current projections. Events like Canada’s recent wildfires – which released as much carbon as six months of US fossil emissions – are not factored into climate models, raising concerns about future predictions.

Urgent action is needed: “We shouldn’t rely on natural forests to do the job. We really, really have to tackle the big issue: fossil fuel emissions across all sectors,” Exeter University’s Professor Pierre Friedlingstein, who oversees the annual Global Carbon Budget calculations, told The Guardian.

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CIRCLE YOUR CALENDAR-

Egypt will host the World Urban Forum from Monday, 4 November to Friday, 8 November in Cairo. The forum, established by the UN and one of its largest non-legislative events, will center around the effect of rapid urbanization on communities, economies, climate change, and policies and will bring together government representatives, academics, business people, urban planners, and more.

South Africa will host the Critical Mineral Africa Summit from Wednesday, 6 November to Thursday, 7 November in Cape Town. The summit aims to attract critical minerals investment to the continent and will be held alongside African Energy Week. The summit will be held in partnership with the Southern African-German Chamber of Commerce Partners representing Germany’s increasing investments in southern Africa.

Azerbaijan will host the United Nations Climate Change Conference or Conference of the Parties (COP29) from Monday, 11 November to Friday, 22 November in Baku. The annual conference brings together governments, world leaders, and other stakeholders to advance the Paris Agreement and negotiate ways to fight climate change. The United Nations Framework Convention on Climate Change’s objective is to “stabilize greenhouse gas concentrations in the atmosphere at a level that would prevent dangerous anthropogenic interference with the climate system”.

Check out our full calendar on the web for a comprehensive listing of upcoming news events, national holidays and news triggers.