IDO Investments, the technology investment firm and the venture capital arm of Oman Investment Authority (OIA), has become one of the investors amongst a number of international companies to have invested in Energy Dome. Energy Dome is an Italian tech start-up behind the innovative CO2 Battery that stores energy for longer duration, ensuring a continuous supply of solar and wind power. In a press note by Energy Dome recently, It revealed that the firm has also signed a MoU (Memorandum of Understanding) with Oman Investment Authority to explore potential area of collaboration in the country. In this second tranche of…
Author: Saur News Bureau
Saudi government’s persistent efforts in renewable energy with the new tariff, as well as the expansion of renewable capacity is expected to lead towards daily oil consumption in 2030 down to 1.5 to 2 million barrels, compared to today’s 11 million, as per a report by Global Ventures named ‘Modern Energy in Africa and Middle East’. Green Hydrogen in MEA The report states that in GCC states, RE generation will be paired with growth in green hydrogen production. “GCC states have unique advantages and incentives that will allow them to become leaders in the emerging hydrogen economy. Early and focused…
The United Arab Emirates has shown interest in making investments in the RE sector of Bangladesh. This was revealed by the visiting UAE Minister of Industry and Advanced Technology Dr Sultan Ahmed Al Jaber, recently. This Minister discussed the plans during his meeting with Prime Minister Sheikh Hasina at her official residence Ganabhaban. “They are very interested in the energy sector, especially renewable energy alongside conventional energy,” PM’s Press Secretary Ihsanul Karim said while addressing the media after the meeting. Dr Ahmed, who is also the Chairman of ‘Masdar’ (an energy company) and Managing Director of Abu Dhabi National Oil…
Israel’s Energy Ministry has plans to invest 6.96 million US dollars in innovative research and development (R&D) projects in the energy and water sector. The investment will focus on projects dealing in the fields of renewable energy production, electricity transmission, smart electricity, energy storage, alternative fuels for transportation, energy efficiency, cybersecurity, health, waste-to-energy, and more. As per the tender, the ministry will finance up to 50 percent of the selected projects’ budgets, with a maximum of 3 million shekels per project. In addition, it will also provide advisory support. The selection of the projects will be made according to technological…
Abu Dhabi Future Energy Company PJSC – Masdar announced the successful completion of its first green bond issuance for US$750 million 10-year senior unsecured Notes today. Showing positive appetite from regional and international investors, the order book peaked at US$ 4.2 billion, i.e. oversubscription of 5.6x. Pricing tightened 35 bps between launch and final terms, with a final landing spread of 115 bps over the US Treasuries and a coupon of 4.875 per cent. Allocation was finalized with a split of 87.5 per cent to international investors and 12.5 per cent to MENA investors. The investor confidence in the financial…
The EGO General Directorate Vehicle Maintenance and Repair Department Turkey has released a tender for constructing Solar Power Plant (Ges). The tender was released on July 13, 2023 and the date and time for the last bidding is set to August 7, 2023. The construction work of the Solar Power Plant (GES) Installation will be tendered by the open tender method in accordance with Article 4734 of the Public Procurement Law No. 19, and the bids will only be received electronically via EKAP. The document released says that one unit of solar power plant (GES) installation (construction work) will be…
Saudi Arabia and Turkey have signed a memorandum of understanding (MoU) to promote investment and cooperation in the renewable energy sector. To this end, Saudi’s Energy Minister Prince Abdulaziz Bin Salman and the Turkish Deputy Minister of Energy and Natural Resources Alparslan Bayraktar have signed the pact. The MoU is expected to enhance the partnership between the private and government sectors in Saudi Arabia and Turkey. As per the pact, there will be cooperation in the field of renewable energy and electricity, in addition to petroleum and gas through technical cooperation in the projects of this sector. The MoU also…
Abu Dhabi National Oil Company- ADNOC Group will build the Middle East’s first high-speed hydrogen refuelling station. Located in Masdar City, it will create clean hydrogen from water using an electrolyser powered by clean grid electricity. Hydrogen can give vehicles a more extended driving range and faster fuelling times than battery-electric vehicles. To this end, ADNOC is partnering with Toyota and Al-Futtaim Motors to test the high-speed hydrogen refuelling station using a fleet of clean hydrogen-powered vehicles. As per the deal, Toyota and Al Futtaim Motors will provide a fleet of hydrogen-powered vehicles. The Abu Dhabi-based energy major said, “The…
Welthungerhilfe (hereafter WHH) is looking for supply and installation of solar energy electrification for WHH Duhok Office at Duhok Governorate, KRI, Iraq. To this end, it has floated tenders. The document released says that the deadline for receiving questions about this tender is July 24, 2023 at 12:00 hours Iraq Local Time. The application must be performed online not later than July 26, 2023 at 12:00 hrs. The tender is for the purchase of solar equipment. All applications must comply and adhere to at least the specifications and conditions described in the Itemised Quotation Form (Annex IV). The company needs…
Saudi’s energy firm ACWA Power has singed a pact with the New and Renewable Energy Authority (NREA) to allocate land for a 10 GW wind project in Egypt. The agreement is a next step in the development of this large scale RE facility. It was signed at the headquarters of the Council of Ministers in the new city of El Alamein, by Mohamed El Khayat, Chairman of NREA, and Eng. Hassan Amin, Country Director – Egypt, ACWA Power, in the presence of the H.E. Dr. Moustafa Madbouly, Prime Minister of Egypt, Dr. Mohamed Shaker, the Egyptian Minister of Electricity, Mazyad…