India and Saudi Arabia signed a Memorandum of Understanding (MoU) on cooperation in energy sector for a stronger partnership between India and Saudi Arabia. As per official press release from the Ministry of New and Renewable Energy, the MoU was signed by Union Minister for New Renewable Energy and Power R. K. Singh (India) and Abdulaziz bin Salman Al-Saud (Saudi Arabia). As per the deal, the MoU between India and Saudi Arabia will cooperate in renewable energy, energy efficiency, hydrogen, electricity and grid interconnection between the two countries, petroleum, natural gas, strategic petroleum reserves and energy security. The deal would…
Author: Saur News Bureau
Saudi Arabia based Desert Technologies (DT), a solar PV and smart infrastructure holding company has signed a long term partnership with the multinational giant Essar Group. Both the parties signed a Memorandum of Understanding (MOU) during G20 summit at Delhi, recently, to develop renewable energy solutions for Essar Group’s Green Steel Arabia (GSA) project in the Kingdom of Saudi Arabia (KSA). Also, there are plans for potential future projects which will put Saudi Arabia on the map, as a pioneering country in Green Steel production and green energy generation. Through this partnership, DT and Essar will develop solutions for renewable…
Israel will be allocate more than 2,000 additional megawatts in the national electricity grid to connect renewable energy facilities, mainly solar ones. This was disclosed by the country’s Ministry of Energy and Infrastructure in a statement, recently. With this, the state-owned Israel Electric Corporation will be able to connect many high-scale renewable energy facilities, mainly in the north and south of Israel, enabling the promotion of renewable energy production nationwide. As per the statement, residents all over the country will soon be able to join the renewable energy revolution, earn profits from solar facility installations in their properties, and take…
Emirates Development Bank (EDB) has come up with the Solar Energy Finance Programme to support MSMEs in diverse sectors in the UAE. The program assigns AED100 million to encourage green energy solutions with a premium on solar energy initiatives. The Solar Energy Finance Programme will enable the transition to cleaner energy sources by addressing cost barriers that may have hindered the adoption of sustainable practices. The program offers medium as well as long-term loans along with working capital. Solar projects will also get direct support. The scheme includes technology providers, equipment suppliers, energy consumers across various sectors, and other related…
Xendee, California based Microgrid Decision Support Platform, has secured a contract to support NEOM in planning its renewable energy and microgrid projects. Xendee is an award-winning software platform built to integrate the feasibility analysis, detailed engineering, and operation of Distributed Energy Resources and EV fast-charging infrastructure. NEOM is the the visionary project aiming to create a sustainable and futuristic city in the northwest region of the Saudi Arabia. With over 2,800 staff members from 86 countries already living and working onsite, NEOM is spearheading the transformation towards an environmentally friendly and sustainable city. As per the contract, Xendee will assist…
Dubai Electricity and Water Authority (DEWA) and Masdar has signed a pact to build and operate the 1,800 megawatt (MW) phase 6 of the Mohammed bin Rashid Al Maktoum Solar Park. The agreement is valued at Dhs5.51bn. The sixth phase of the project, set to be operational in stages starting from Q4 2024, will power over half a million residences while reducing carbon emissions by 2.36 million tonnes annually. Dr Sultan Al Jaber, UAE Minister of Industry & Advanced Technology, Chairman of Masdar and COP28 President-Designate, and Saeed Mohammed Al Tayer, MD and CEO DEWA signed the agreement in Abu…
Hydrom, a subsidiary of state-owned Energy Development Oman, is inviting global energy companies to participate in Round 2 public auction to develop green hydrogen production in Dhofar Governorate. It may be noted that the Round 2 public auction, officially launched last June, has given an opportunity for companies seeking to invest in sustainable energy projects. In its statement, Hydrom said, “the Round 2 Public Auction offers up to three prime blocks, ranging in size from 340 km2 to 400 km2, exclusively dedicated to green hydrogen production.” Hydrom aims to leverage Dhofar’s abundant renewable energy resources, including wind and solar power,…
To assess potential developments for green hydrogen, Saudi’s ACWA Power has signed strategic agreements with six Italian companies. In addition to green hydrogen, the partnership would also work towards water desalination and research & development. The deal was signed recently during the Saudi-Italian Investment Forum in Milan. The Saudi-Italian Investment Forum, jointly hosted by Saudi Arabia’s Ministry of Investment (MISA) and Italy’s Ministry of Enterprises, is symbolic of the enduring diplomatic relations that span over 90 years between the two nations. Currently, the bilateral trade between these countries amounts to approximately US$11 billion. In a statement, ACWA Power said that…
Trina Solar Co., Ltd., which delves into smart solar energy solutions for a net-zero future, has revealed that its revenue for the first six months of 2023 totalled US$7.13 billion, while the company delivered more than 75 GW of its 210mm modules in total by the end of June 2023. This is according to its latest financial report. The financial report for the first half of 2023 highlights several key milestones for Trina Solar, showcasing the company’s focus on providing convenience and value to customers. From January to June, Trina Solar demonstrated its expertise as an industry leader in 210mm…
The United Arab Emirates will be investing whopping $4.5 billion in clean energy in Africa. This was disclosed during the landmark climate summit hosted by Kenya, recently. The summit aimed at attracting funding for efforts to combat global warming. The three-day (4th September – 6th September) event in Nairobi, which began yesterday, will be bringing together African leaders to define a shared vision for green development on the diverse continent of 1.4 billion people. “We will deploy $4.5 billion to jumpstart a pipeline of bankable clean energy projects in this very important continent,” said Sultan Al Jaber, who heads the…