A Memorandum of Understanding (MoU) has been announced between the Abu Dhabi Department of Economic Development (ADDED) and Broaden Energy, a leader in hydrogen energy solutions globally. As per the terms of this deal, Broaden Energy will establish the first manufacturing complex for hydrogen equipment in Abu Dhabi. The objective of this program is to reinforce the Abu Dhabi Industrial Strategy (ADIS) through the promotion of sustainability, the establishment of value chains, and the establishment of Abu Dhabi as the primary industrial hub in the region. The new manufacturing complex, which would require an investment of more than AED 1…
Author: Akash
The €200 million financing deal between OCP Group, in plant nutrition solutions and phosphate-based fertilizers, and KfW, Germany’s development and investment bank, has been finalised. The financing is intended to combat climate change and support global food security. The KfW loan is a significant part of OCP Group’s $13 billion green investment strategy for 2023-2027, aimed at increasing sustainable fertilizer production. By 2024, the Group wants to run all of its industrial processes using 100% non-conventional water. To that end, €150 million will be invested. In addition to boosting the production of environmentally friendly fertilizers, the €50 million investment will…
Solar tracker manufacturer PVH Middle East proudly announces its collaboration with GSI and AEPCo as the tracker supplier for solar PV projects in Jordan and in Kuwait. The projects mark a joint effort towards renewable energy development and is a step forward in Owner’s commitment to powering its operations with renewable energy. PVH will supply 100MW of its Axone Duo Infinity solar tracker, thus playing a pivotal role in the success of this project. Surmai Kaushik, Sales VP at PVH Middle East said, “We are very pleased to collaborate with Green Sources Investment and Alternative Energy Projects Co. on this…
Renewables capacity in the Middle East is set to soar in the coming years, with green energy sources outpacing fossil fuel usage in the power sector by 2040, according to Rystad Energy’s latest research. Solar photovoltaic (PV) is expected to emerge as the predominant source, accounting for more than half of the region’s power supply by the middle of the century, up from 2% last year. By 2050, renewable energy sources, including hydro in addition to solar and wind, are expected to constitute a staggering 70% of the Middle East’s power generation mix. This marks a monumental leap from the…
Sungrow, the PV inverter and energy storage system provider, has forged a strategic partnership with Larsen & Toubro to supply 165MW PV inverters and 160MW/760MWh energy storage systems for AMAALA, in Saudi Arabia. This partnership, which coincides with China’s Belt and Road Initiative and Saudi Arabia’s Vision 2030, is a turning point in the development of sustainable energy. For the benefit of the customer Red Sea Global, this flagship project is being developed and overseen by Abu Dhabi Future Energy firm (Masdar) and EDF Group, the top French utility firm that specializes in low carbon energy generation, with over 91%…
ACWA Power, headquartered in Saudi Arabia, announced that it has received the commercial operation certificate for the third phase (Phase C) of the Shuaa Energy 3 project in Dubai. The company announced to the Saudi stock exchange that Phase C has increased the project’s capacity by 300 megawatts (MW). At an estimated cost of 50 billion UAE dirhams ($13.65 billion), the Mohammed bin Rashid Al Maktoum Solar Park is the largest single-site solar park in the world. By 2030, its capacity is expected to reach 5,000 MW. The solar park is expected to reduce carbon emissions by 6.5 million tonnes…
In order to progress the “Kafa’a” programme’s execution, the Electricity and Water Authority (EWA) in the Kingdom of Bahrain has partnered with Etihad Energy Services Company (Etihad Esco), a division of Dubai Electricity and Water Authority (DEWA). With Etihad Energy Services’ eleven years of experience in energy efficiency initiatives—especially from programs similar to this one that have been implemented in numerous buildings throughout Dubai—EWA sees this partnership as crucial to the successful implementation of the “Kafa’a” programme. EWA is committed to accomplishing strategic goals that reduce electricity consumption and improve energy efficiency. By doing so, it hopes to facilitate Bahrain’s…
ACWA Power, Saudi Arabia-based power company has signed an SR 18.2bn ($4.85bn) power purchase agreement with Uzbekistan’s national electric grid for the Aral 5GW wind power project. The agreement was signed at the Tashkent International Investment Forum. As per the media statement, Aral wind project, to be located in the Karakalpakstan region, is poised to become Central Asia’s largest wind farm. While the project is still in the development stage, the total investment value is subject to change upon reaching financial close. ACWA Power founder and board chairman Mohammad Abunayyan said: “This historic project will provide clean power to approximately…
Xlinks First Ltd. has announced a $14.1 million investment from Africa Finance Corporation (AFC), the infrastructure solutions provider, to further the development of Xlinks’ Morocco – UK Power Project, which will provide affordable, reliable, clean energy from Morocco to Britain within a decade. AFC’s support marks a significant milestone for the project, affirming Morocco’s role as a continental renewable energy leader, and demonstrating how Africa’s enormous renewable energy potential can provide solutions to benefit the global energy transition. Once complete, the project’s wind and solar generation, combined with flexible battery storage, will supply 3.6GW of affordable, reliable, clean power to…
Saudi Arabia and Uzbekistan have signed a deal to further boost their energy collaboration. The agreement was signed between Prince Abdulaziz Bin Salman and Jurabek Mirzamahmudov Minister of Energy of the Republic of Uzbekistan. The meeting culminated in a joint statement affirming the commitment of both nations to fortify their energy collaboration. The two governments acknowledged the pivotal role of energy in their enduring bilateral partnership and emphasized the necessity of stabilizing global energy markets. Uzbekistan lauded Saudi Arabia’s efforts in maintaining stability in the global oil market, recognizing its contributions to fostering sustainable economic growth for both producers and…