ACWA Power, a Saudi based energy firm, has signed an agreement with various financial institutions to develop 200 MW Kom Ombo project, a utility-scale solar power plant in Egypt. It is estimated to cost US$123 million. The funding institutions include European Bank for Reconstruction and Development (EBRD), OPEC Fund for International Development (the OPEC Fund), African Development Bank (AfDB), AfDB’s Sustainable Energy Fund for Africa (SEFA), Green Climate Fund (GCF), Arab Petroleum Investments Corporation (APICORP) and Arab Bank. Revealing further details the release said that the funds comprise loans of up to US$ 36 million from the EBRD, US$ 14.6 million from the OPEC Fund, US$ 14.4 million…
Author: Saur News Bureau
DEWA’s (Dubai Electricity and Water Authority) and Etihad Water & Electricity officials met to discuss collaboration and coordination among all entities in the electricity and water sectors in the UAE to reach its goal of energy security, sustainability, and efficiency. The new Chief Executive Officer of Etihad Water and Electricity (EtihadWE), Eng. Yousif Ahmed Al Ali expressed confidence in promoting strategies to boost electricity and water efficiency. Saeed Mohammed Al Tayer, MD and Al Ali,CEO of (DEWA),highlighted the importance of cooperation between various government organs to help achieve sustainability goals. With this meeting, the goals are set to enhance cooperation…
Saudi Arabia’s renewables developer ACWA Power has secured a financial package of $123 million to develop 200MW Kom Ombo utility-scale solar power plant in Egypt. Financing institutions for the solar project of ACWA Power include EBRD, OPEC Fund OPEC Fund, African Development Bank (AfDB), Sustainable Energy Fund for Africa (SEFA), GCF, APICORP and Arab Bank. ACWA Power said that the package comprises loans of up to $36 million from the EBRD, $14.6 million from OPEC Fund, $14.4 million from AfDB, $34.5 million from GCF, $14.8 million from Arab Bank and $10 million from the SEFA. The loan is being given…
The EV market in Dubai is witnessing exponential growth and to provide further impetus to the EV ecosystem, Dubai Silicon Oasis (DSO) has joined hands with Schneider Electric. Dubai Silicon Oasis is a global free zone and an integrated technology park. Under the partnership, an electric vehicle (EV) charging station at Scheider Electric’s Gulf headquarters will be installed to encourage the adoption of e-mobility solutions. As per global electric mobility readiness index published in 2022, the demand for electric vehicles in the UAE market is steadily increasing and is estimated to witness a compound annual growth rate (CAGR) of 30%…
Teralight, an Israeli solar energy company has recently launched the country’s largest solar project. The project, called Ta’anakh, was built in collaboration with the Moshavim (agricultural) Movement and the Environmental Protection Ministry. The project will power over 60,000 households by next year. As a part of strategic partnership with French company Sun’Agri to replace solar panels in agricultural fields, it combines Teralight’s solar panels with Sun’Agri’s dynamic solar-field management software, that is expected to balance the amount of light or shade needed by the plants with the electricity production of the solar panels. The project will focus on – solar…
Saudi Arabia’s ace renewable energy developer ACWA Power has received $174 million worth of loans from the Asian Development Bank (ADB) to develop the Bash wind power and Dzhankeldy wind power plants – both located in the Bukhara region in Uzbekistan. As per ABD, the ACWA Power financing comprises loans amounting to $40.5 million for Bash and $46.5 million for the Dzhankeldy funded through ordinary capital resources of the bank. ADB will also administer $40.5 million for Bash and $46.5 million for Dzhankeldy from the Leading Asia’s Private Infrastructure Fund (LEAP), administered by ADB. As per the RE developer, each…
Oman’s first ammonia plant project will most likely be launched by mid-2025. The project is presently being developed by the Indian firm ACME in Duqm Particular Financial Zone. Syed Hussain Naqvi, Chief Technology Officer at ACME, informed that the Duqm Project will be among the first green ammonia projects when this first phase becomes operational in the next couple of years. Speaking at the webinar by Ammonia Vitality Affiliation, which promotes the usage of ammonia as a supply for sustainable power, Naqvi, said an ACME-led special purpose vehicle named `Green Hydrogen & Chemicals SPC, is currently developing the facility at…
Morocco will see the establishment of a green hydrogen plant, solar and wind power project via a JV that entails a Chinese, Saudi and Morocco-based firm. The JV will facilitate the establishment of a production plant with the yearly generation of 1.4 million tons of green ammonia. A 2 GW of solar plant and 4 GW of wind project will also be set up. Earlier this month, Energy China International Construction Group revealed that it had entered into an MoU on green hydrogen in southern Morocco in partnership with Saudi Ajilan Brothers Company and Gaia Energy based in Morocco. Morocco…
Namibian registered green hydrogen conglomerate Hyphen Hydrogen Energy and that Namibian government are expected to ink a deal for the development of green hydrogen project in Namibia. The quantum of the deal would be around $10 billion and the signing of the agreement may take place in May of this year. When the project is fully developed, it is expected to generate about 300,000 metric tonnes of green hydrogen every year. The green hydrogen project will consume some 5 to 6 gigawatts (GW) of renewable energy. It will also employ approximately 3GW of electrolyser capacity. Namibian President Hage Geingob had…
Turkey has begun awarding pre-licensing for energy storage facilities including both wind and solar. The facilities, with around 20 GW is expected to be issued over a period of about three years. Pre-licenses were issued by the Energy Market Authority earlier this month, for a total of 12 applications with total capacity of 744 MW, representing an investment value of around US$1.5 billion. According to Energy Market Regulation Authority (EMRA) Head, Mustafa Yilmaz, these are the first selected from 4,369 applications,which adds up to about 221,000MW. The step towards pre-licensing is taken after key regulatory changes including an EMRA ruling…