Saudi-listed Acwa, a private water desalination company has signed USD 226 million of financing agreements for the Bash II 300 megawatts (MW) Wind Farm in Uzbekistan at the 2026 Asian Development Bank (ADB) Annual Meeting. The agreements were executed with three leading international lenders, including the Asian Development Bank (ADB), the Asian Infrastructure Investment Bank (AIIB), and Standard Chartered Bank (SCB). The total USD 226 million in senior debt financing represents more than two-thirds of the project’s total cost. The financing package reflects strong lender confidence in Uzbekistan’s power sector reforms, the project’s economics, and Acwa’s delivery record across Central…
Author: Chitrika
The Australian Government has approved 10 new renewable energy and battery projects for Western Australia. These projects collectively deliver around 1.886 gigawatts (GW) of new renewable electricity generation and about 3.683 gigawatt-hours (GWh) of standalone battery storage capacity. The projects will add generation and storage to the state’s Wholesale Electricity Market (WEM), helping keep power reliable as older generators retire and electricity demand grows. The Assistant Minister for Climate Change and Energy has awarded Tenders 5 and 6 under the Capacity Investment Scheme (CIS). These projects will add generation and storage to the state’s Wholesale Electricity Market (WEM), helping keep…
EWEC (Emirates Water and Electricity Company), an integrated planning, purchasing, supply, and system dispatch services of water and electricity across the UAE, entered a Collaboration Framework Agreement (CFA) with Abu Dhabi Future Energy Company PJSC – Masdar. Masdar agreed to establish a roadmap for the accelerated deployment of utility-scale renewable energy projects. The agreement would support the UAE’s diversification of its energy mix and strengthen security of supply, and power local industrial growth. This framework is designed to maximise In-Country Value and foster Emirati talent and expertise. The CFA was signed by Ahmed Ali Alshamsi, Chief Executive Officer of EWEC, and…
The Asian Development Bank (ADB) has signed a $116 million financing package with Acwa to support the development, construction, operation, and transfer of a 300-megawatt (MW) wind power plant. The plant is located in Uzbekistan’s Bukhara region, further accelerating the country’s transition to renewable energy. In a press release, ADB has financed several of Acwa’s renewable energy projects in Uzbekistan, including the 500-MW Bash and 500-MW Dzhankeldy wind power projects, the 200-MW Nukus 2 Wind and Battery Energy Storage Project, and the Samarkand 1 and 2 Solar PV and BESS Projects. The financing comprises loans of $50 million from ADB’s…
In a move reflecting the rapid transformation of Egypt’s energy market toward sustainable solutions, Eco Solutions entered into a partnership with China’s GoodWe Group an inverter systems and energy storage batteries manufacturer. Eco Solutions, a solar energy and environmental solutions manufacturer, under this agreement, becomes the officially authorized commercial partner for GoodWe’s products in Egypt.This partnership aims to deliver solar inverters and energy storage solutions in Egypt and it comes at a pivotal time, as Egypt’s energy sector is witnessing growing demand for alternative solutions, driven by rising conventional energy costs and the government’s direction toward increasing the share of…
TotalEnergies has taken the Final Investment Decision and secured financing for the Mirny onshore wind and Battery Energy Storage System (BESS) project in Kazakhstan. In a press release, TotalEnergies said its project, located in the southeast of the country, Mirny, should generate 100 TWh of renewable electricity over 25 years, enough to supply about 1 million people in Kazakhstan. The electricity produced will be sold to the Government of Kazakhstan under a 25-year Power Purchase Agreement (PPA) signed in 2023. The project’s investment amounts to $1.2 billion, with about 75% externally financed. A flagship project for Kazakhstan The Mirny project…
The Saudi Power Procurement Company (Principal Buyer), under the supervision of the Ministry of Energy, has commenced the qualification process for the second group of Battery Energy Storage System (BESS) projects, consisting of a total of six projects. Each project will be developed under a build-own-operate (BOO) model, with the winning consortium holding 100% equity in the special purpose vehicle (SPV) established to develop and operate the Independent Storage Provider (ISP) project. Each SPV will enter into a Storage Services Agreement with the Principal Buyer. Scope of Work The combined capacity of the Group 2 BESS projects is 3,000 MW,…
Abu Dhabi Future Energy Company PJSC – Masdar, a global clean energy leader, and Elektroprivreda Crne Gore (EPCG), Montenegro’s national power utility, have agreed to form a 50/50 joint venture (JV) to develop large-scale renewable energy projects in Montenegro. Through the JV, to be headquartered in Nikšić, Masdar and EPCG will deploy and operate clean energy projects across a range of technologies, including solar photovoltaic (PV), wind, hydropower, pumped hydro energy storage, stand-alone battery energy storage systems and hybrid solutions in Montenegro. The collaboration is intended to support Montenegro’s domestic energy needs while also enabling the export of renewable electricity…
The ongoing conflict in the Middle East has severely disrupted global oil and gas supplies, resulting in the selective closure of the Strait of Hormuz. This has affected infrastructure across the region and international energy flows, creating erratic increases in oil and gas prices, thereby nudging states to seek renewable energy as an alternative.Addressing this pressing challenge, a latest report by the International Renewable Energy Agency (IRENA) in its policy advisory suggested a policy shifts in the form of rebates in pricing and alternatives such as distributed renewable energy and battery energy solutions.To shift dependence on fossil fuels, the research…
The European Bank for Reconstruction and Development (EBRD) is strengthening Egypt’s green energy transition with a US$ 65 million construction bridging loan to HAU Energy for the development of a new renewable energy project in Benban, near Aswan. The project is being co-developed by HAU Energy and Infinity Power. The financing will support the construction and installation of a 200 MW solar photovoltaic (PV) plant and a 120 MWh battery energy storage system (BESS), an important milestone in expanding Egypt’s renewable energy and battery storage capacity, helping the country accelerate its shift to a low carbon economy. Once operational, the new…