The Qatar Investment Authority (QIA), Qatar’s sovereign wealth fund, has bought a 2.7% stake in Adani Green Energy, a renewable energy Indian behemoth owned by Adani Group, in a $500 million block deal recently. As per reports, before the deal, Adani Green Energy’s shares fell nearly 12.4% to hit a low of 886.2 Indian rupees ($10.71) on the Bombay Stock Exchange (BSE). The shareholding data available with the exchange revealed that the promoter and promoter group hold a 56.27% stake in the firm, while the rest is with the public as of June 30, 2023. In the year 2020, QIA…
Author: Saur News Bureau
With an aim to promote renewable energy usage and extend support to military veterans, the Ministry of Energy and Mineral Resources has recently announced the initiation of three tenders for the supply, installation, operation, and maintenance of solar energy systems connected to the electrical grid. These systems will be integrated with all necessary auxiliary devices, including inverters, to powerhouses owned by military veterans. The power generated from solar energy will empower military veterans by equipping their homes with sustainable and cost-efficient energy solutions. The tender specifications require a peak capacity of (3) kilowatts DC and (2.7) kilowatts AC for the…
In unison with UNDP Cyprus, the European Commission is working on a study funded by the EU on a bicommunal solar power plant in Cyprus. It will be executed by a reputed German firm. The study which will get funding worth EUR 325,000 from the Commission’s Aid Programme for the Turkish Cypriot community will be managed by the United Nations Development Programme (UNDP). The study, it is held, is significant to look into a more integrated and sustainable electricity system in Cyprus. Further, the study will pave the way for greater synergies between the two communities of the island. It…
The UAE Ministry of Energy and Infrastructure (MOEI) has joined hands with GHD, a global professional services co. and the Fraunhofer Cluster of Excellence Integrated Energy Systems (CINES) to deliver a comprehensive National Hydrogen Strategy. The strategy is in line with the UAE’s vision to become a leading global producer of low-carbon hydrogen by its 60th anniversary in 2031. With the support from MOEI, the strategy is a fact-based analysis that evaluates the opportunities and challenges associated with establishing a hydrogen-based economy in the UAE. It further focuses on leveraging the country’s abundant natural gas reserves, high solar radiance, and…
US beverage giant PepsiCo Inc’s SodaStream will make its products in Israel using 100% renewable energy under a power off-take deal with Israel’s Enlight Renewable Energy Ltd. In a statement, the PepsiCo subsidiary said that the RE developer will provide SodaStream with electricity from its solar and battery storage facilities. This 15-year corporate power purchase agreement (PPA), was signed following a recent change of market regulations in Israel that permits to green power producers like Enlight to enter direct PPAs with large corporate clients. With this deal, sparkling water brand SodaStream will be able to use renewable energy for all…
Poland is emerging as an innovator in green technology with their ingenious ideas impacting the global energy transition process. Thus, in a bid to highlight the potential and accomplishments of the Silesia Region in green technologies and sustainable development, the region is planning a promotional pavilion at WETEX & DSS, which will be organised by Dubai Electricity and Water Authority (DEWA) from 15 -17 November at the Dubai World Trade Centre. This pavilion will provide a platform for prominent Silesian companies in the green technology sector to present their products, innovations, and solutions to an international audience, said the statement.…
Israel’s SolarEdge Technologies has tied up with the Saudi firm, Ajlan & Bros (ABH) Holding in Riyadh. Established in 2006, SolarEdge Technologies Inc., will jointly work with the Saudi firm towards deploying renewable energy in the kingdom. According to a press statement by SolarEdge, their new company will be involved in energy generation, storage, and management for Saudi businesses. SolarEdge is a smart energy technology provider, and ABH is one of the largest private sector firms in the Middle East and North Africa region. The statement further informed that the JV firm will be established in Riyadh, Saudi Arabia. It…
Abu Dhabi-based clean energy firm, Masdar, has signed an agreement with Malaysia’s Citaglobal Berhad to build multiple RE projects in Malaysia that includes rural, off-grid initiatives. To this end, an MoU was signed in Malaysia by Abdulla Zayed, Masdar’s Head of Development and Investment, and investment holding company, Citaglobal’s Executive Chairman and President, Tan Sri Mohamad Norza Zakaria. The two firms plan to develop projects in the Malaysian state of Pahang that will include solar, battery energy storage system (BESS), wind and other renewable energy technologies. “By collaborating with a leading energy transition player, we will make faster progress towards…
Oman Oil Marketing Company (OOMCO) recently signed a Partnership Agreement with Synergy Investment to establish Electrical Vehicles One (EVO). With the aim towards contributing towards Oman’s net zero target by 2050, EVO will be developing Oman’s electric vehicles (EV) infrastructure and supporting the overall green mobility initiatives. By establishing EVO, OOMCO aims to support the Ministry’s Green Mobility Plan by providing various eco-friendly, sustainable, and green mobility solutions to support sustainable mobility in Oman. The agreement was signed during recently held Green Mobility Forum organized by the Ministry of Transport, Communication and Information Technology. Tarik Al Junaidi, Chief Executive Officer…
Misr Fertilizers Production Company’s (MOPCO) board has approved the formation of a new green Hydrogen Company for the production of green hydrogen, in association with the Egyptian Petrochemicals Holding Company (ECHEM) and Norway’s Scatec. This was disclosed by MOPCO, recently. ’The new company will use produced green hydrogen in the production of green ammonia,’ the statement from the firm informed. The green hydrogen will be employed for the purpose of production of green ammonia. The ownership of the yet-to-be-established company is currently being determined, and will be disclosed once decided. Egypt based MOPCO deals in the production, marketing, wholesale, and…