Abu Dhabi National Energy Company PJSC (TAQA) shared its financial results for the first quarter of 2025. The company reported AED 14.2 billion in revenue, which is a 3.8% increase compared to the same period last year. Most of the revenue came from its Transmission and Distribution business. Net income was AED 2.1 billion, down 1.5%. The drop was linked to market changes in oil and gas and a decline in production. TAQA’s renewable energy projects are mainly carried out through its stake in Masdar. In early 2025, Masdar added 243 megawatts (MW) through the Valle Solar project in Spain.…
Author: Lakshita Kapoor
ACWA Power has signed several new agreements with American companies. These were signed during the Saudi–US Investment Forum in Riyadh. The total value of the new agreements is USD 500 million. The new deals expand ACWA Power’s existing partnerships with US firms, which now exceed USD 6 billion. The agreements support various energy projects and technology development in Saudi Arabia. One agreement focuses on solar energy. ACWA Power will work with US partners to use advanced tracker systems for solar panels. These systems help improve energy production and may also boost local manufacturing in Saudi Arabia. In another agreement, ACWA…
Masdar and Samruk-Kazyna have signed an agreement to explore the development of renewable energy and BESS projects in Kazakhstan. The announcement was made during the Kazakhstan-UAE Business Forum held in Astana. The project aims to provide up to 500 megawatts (MW) of continuous renewable power along with battery energy storage systems (BESS) of up to 2 gigawatts (GW) in capacity. Masdar is already working on a 1GW wind power project in Kazakhstan, which includes a 600 megawatt-hour (MWh) BESS. This project, located in the Jambyl region, is among the largest wind projects in Central Asia. The agreement was signed in…
Nahdi Medical Company has partnered with Emerge to install solar panels on the rooftop of its IMDAD Distribution Center in Saudi Arabia. The rooftop solar system will have an installed capacity of 3 megawatt-peak (MWp). Emerge is a joint venture between Masdar and the EDF Group. Under this partnership, Emerge will handle all aspects of the solar system, including finance, design, procurement, construction, operations, and maintenance. The agreement will last 15 years. The new solar panels are expected to reduce carbon dioxide emissions by over 3,000 tonnes each year. This reduction is equal to the electricity usage of about 625…
Euro Motors has signed a 25-year solar energy agreement with Positive Zero. The project will be located in Sitra, Bahrain. It will involve the installation of rooftop and carport solar panels. Once completed, the solar system is expected to have a total capacity of 2.7 megawatt-peak (MWp). The system is designed to generate around 4.7 gigawatt-hours (GWh) of electricity each year. This is enough power to match the yearly usage of approximately 654 homes. Positive Zero will handle all phases of the work. That includes building, financing, operating, and maintaining the system. The solar panels are expected to cut greenhouse…
Wilo and Masdar have signed a cooperation agreement in Dubai. The agreement was formalized during a visit by Hendrik Wüst, Minister-President of North Rhine-Westphalia, Germany. The event took place at Wilo’s main production site in Dubai. Wilo is a technology company with operations in water systems and energy solutions. Masdar is a clean energy company from the UAE. The agreement focuses on renewable energy and efficiency technologies. Both companies plan to expand their work in the Middle East and possibly in other markets. Masdar will contribute clean energy knowledge, including renewable energy project development. Wilo will support the partnership through…
ACWA Power is moving ahead with new solar and wind power developments in several countries. In its latest investor report for the first quarter of 2025, the Saudi-listed company shared that it is adding between 700 and 800 megawatts of renewable energy capacity in China this year. Part of that target includes a 233-megawatt deal signed with Sungrow Renewables to work on two solar power plants already under construction. In the Gulf region, ACWA Power has taken steps toward another large project. It submitted a bid for the Al-Zour North cogeneration project in Kuwait. This facility is designed to deliver 2.7…
Jordan is adjusting its renewable energy schedule. The country had set a goal to have 31 percent of its electricity come from renewable sources by the year 2030. Now, officials say this could happen as early as 2027 or 2028. According to Jordan’s Minister of Energy and Mineral Resources, Saleh Khrabsheh, this change is based on current progress. At the end of 2023, renewable sources made up 27 percent of the country’s energy mix. This is a large increase from levels recorded a decade ago. Jordan’s long-term energy plan also includes reaching 50 percent renewable energy in the future. While…
Changzhou Almaden, a solar glass manufacturer based in China, has announced plans to build a new production facility in the United Arab Emirates. The factory will be located in Khalifa Industrial Zone Abu Dhabi (KIZAD) The planned facility will have a total production capacity of 500,000 tonnes. This includes a daily melting capacity of 1,600 tonnes. The project also includes deep-processing production lines. Construction is expected to take about 18 months. The project cost is estimated at USD 240.2 million. The new company operating this facility will be called Almaden Glass Industries Ltd. It will be based in the UAE.…
In the last week of April, BYD Energy Storage shipped 120 units of its MC Cube-T battery energy storage systems (BESS) from Beibu Gulf Port in Guangxi, China. These are part of a 12.5 gigawatt-hour (GWh) project. This is a large-scale grid battery storage project being developed in Saudi Arabia. According to the company, the full project will include 2,364 BESS cabinets. The project was agreed upon in January 2025 through a contract between BYD Energy Storage and the Saudi Electricity Company. BYD is responsible for the design, supply, installation supervision, testing, commissioning, and maintenance of the battery systems. The…