The OPEC Fund for International Development (the OPEC Fund) is significantly stepping up its development support with nearly US$1.2 billion in new funding since June. The latest projects approved by the Governing Board, which met for its 189th session today, support smallholder farmers and businesses, promote the construction of resilient infrastructure, provide clean water & sanitation solutions and increase climate resilience. Partner countries’ reform programs will benefit from dedicated OPEC Fund loans.OPEC Fund President Abdulhamid Alkhalifa said, “The OPEC Fund is ramping up its efforts with significant new financing approvals which underscore our commitment to transformative development. These investments in…
Author: Chitrika
Sungrow, the PV inverter and energy storage system provider, in collaboration with AMEA Power, a renewable energy, recently hosted the 2024 Photovoltaic and Energy Storage Technology Seminar (Sungrow OSKA Day – PV&ESS Technical Seminar 2024) in Dubai, UAE. During the event, a long-term service agreement (LTSA) was signed for renewable energy projects for AMEA Power’s 500MW Abydos Solar PV Project in Egypt and the 70MW Sheikh Mohamed Bin Zayed Solar PV Project in Togo. The seminar brought together numerous technical experts and engineers from AMEA Power, Danway, and Sungrow to discuss cutting-edge technologies and challenges in the PV and ESS…
EWEC (Emirates Water and Electricity Company), a leading company in the integrated coordination of planning, purchasing, supply, and system despatch services of water and electricity across the UAE, today announced that it will supply the 2024 edition of the World Utilities Congress and the 6th Arab Water Forum with renewable and clean energy through the provision of Clean Energy Certificates (CECs). EWEC’s partnership with dmg events marks the third consecutive year in which EWEC provides the World Utilities Congress, hosted by TAQA, with renewable and clean energy. In addition, the 6th Arab Water Forum, co-located with the World Utilities Congress…
Indian water technology company VA Tech Wabag (WABAG) was recently awarded an Engineering, Procurement, Construction, and Commissioning (EPCC) contract worth 1.2 billion Saudi riyals ($317 million) for a mega seawater desalination project in Saudi Arabia.The contract for the 300 million litres per Day (MLD) capacity, equivalent to 300,000 cubic metres per day (m3/day) Sea Water Reverse Osmosis (SWRO) desalination plant in Yanbu was awarded by the Saudi Water Authority (SWA), formerly known as the Saline Water Conversion Corporation (SWCC), the BSE-listed company said in a stock exchange statement.The project is scheduled to be completed within a 30-month period, the statement…
The Egyptian Ministry of Electricity and Renewable Energy has approved a bid from the Abu Dhabi Future Energy Company (Masdar) to build solar power plants with over $900 million in investments, an official source.The offer includes the construction of power plants with a total capacity of approximately 1,000 megawatts in Upper Egypt, including Aswan, the official said.Masdar will carry out and finance the project under the build, own, operate (BOO) model, while the Egyptian Electricity Transmission Company (EETC) will commit to purchasing the entire produced energy for about 25 years, he added.The final contracts and energy purchase price agreements are…
Rania A. Al-Mashat, Minister of Planning, Economic Development, and International Cooperation, who also serves as Egypt’s Governor at the New Development Bank (NDB), met with Jin Liqun, President of the Asian Infrastructure Investment Bank (AIIB), during the 9th Annual Meeting of the Board of Governors. The meeting, themed “Investing in a Sustainable Future,” took place in Cape Town, South Africa.During the meeting, Al-Mashat emphasized the AIIB’s significant role in expanding its operations in Egypt since 2016, including the financing provided to both the public and private sectors. She called for enhanced collaboration to advance Egypt’s development priorities and increase opportunities…
QatarEnergy has announced that it will build a new solar power mega project at Dukhan, which will more than double the country’s solar energy production, significantly contributing to lower carbon emissions in the framework of a realistic energy transition.The new project will boost Qatar’s PV solar power production capacity to about 4,000 megawatts by building one of the world’s largest solar power plants in the Dukhan area, with a production capacity of 2,000 megawatts.The announcement was made by HE the Minister of State for Energy Affairs, Saad Sherida al-Kaabi, who is also the President and CEO of QatarEnergy, at a…
ACWA Power has signed financing agreements worth 9.7 billion Saudi riyals ($2.6 billion) with a consortium of banks for three large-scale PV solar projects.The funding will be used for the development, design, construction, and operation of the projects, the company said in a statement issued to the Saudi Stock Exchange on Sunday.Buraiq Renewable Energy Company, Moya Renewable Energy Company, and Nabah Renewable Energy Company, which are owned jointly with ACWA Power, Badeel, a wholly owned subsidiary of Public Investment Fund, and Saudi Aramco Power Company, signed the agreements with the bank consortium.The consortium includes Banque Saudi Fransi, Emirates NBD, First…
The Ministry of Energy and Infrastructure (MoEI) and the Ras Al Khaimah Petroleum Authority (RAKPA) have entered into a Memorandum of Understanding (MoU) to strengthen their partnership within the energy sector. The MoU was signed by Eng Sharif Al Olama, Undersecretary for Energy and Petroleum Affairs at MoEI, and Christopher Wood, Chief Executive of RAKPA.The MoU serves as an enabler for collaboration on sustainable energy transformation, focusing on activities such as sharing geological, geophysical, and hydrogeological surveys and studies, conducting research on natural hydrogen, investigating carbon capture via mineralization, and evaluating geothermal energy potential in Ras Al Khaimah and the…
On August 22, Gstar formalized a strategic partnership by signing a Memorandum of Understanding (MoU) with a prominent Middle Eastern consortium represented by Siraj Group, an investment company based in the UAE. The MoU focuses on a 2GW solar module manufacturing project centered on high-efficiency N-type technology, marking a significant step in Gstar’s strategic business expansion in the Middle East. The signing ceremony, attended by Gstar Chairman Mr. Wang Yang, signifies the further development of Gstar’s global integrated supply chain ecosystem.2GW High-Efficiency Module Manufacturing MoUThe MoU establishes a partnership for the development of a 2GW high-efficiency solar module manufacturing project.…