Oman Power and Water Procurement Company (OPWP) has added a renewable energy source with a new Concentrated Solar Power (CSP) project in Duqm. OPWP is focusing on a mixed portfolio of renewable resources and technologies to meet Oman’s target for 35 – 39% of national electricity supply coming from renewables by 2040. The CSP technology will complement the already existing lar photovoltaic (PV) technology in Oman’s first large-scale grid-connected 500 MWp solar power plant in operation at Ibri. The CSP technology utilises mirrors arrayed in concentric circles to reflect solar radiation onto a centrally located thermal receiver. The heat, thus…
Author: Saur News Bureau
Abu Dhabi National Energy Company PJSC (TAQA), a utility firm in the Middle East and North Africa region, has issued a $1.5bn dual-tranche bond. These are the company’s first green bonds following the launch of its new green finance framework. TAQA has recently established the green finance framework for the issuance of green bonds, loans, and other key debt instruments. Under the framework, the 10-year notes maturing on 24 April, 2033 is sized at US$1 billion and were issued at a coupon rate of 4.696%. The proceeds of the same will be used to finance, refinance and invest in relevant…
With the aim to meet the rising global demand for clean fuels, Mubadala Capital energy company, Acelen has plans to invest $2.5 billion in north-eastern Brazilian state of Bahia for the next 10 years to produce renewable diesel and sustainable aviation kerosene. Mubadala Capital is the asset management subsidiary of Mubadala Investment Company, a leading global sovereign investor based in Abu Dhabi. Acelen also owns the Mataripe refinery in Bahia, Brazil’s second-biggest and one of the oldest refineries in the country. The firm plans to start production in the first quarter of 2026, the company said in a statement. “We…
Abu Dhabi National Oil Company (ADNOC), UAE has signed two agreements with Japanese partners to beef up the low-carbon hydrogen value chain between the UAE and Japan. The agreements will focus on developing advanced practical solutions to help meet the growing global demand for clean fuels. ADNOC is into developing global markets for hydrogen and its carrier fuels such as ammonia. The firm said that these latest strategic agreements demonstrate firm’s commitment to working with the customers to decarbonize the energy system. Commenting on the partnerships, ADNOC said that agreement with Japanese firm Kawasaki aims to explore production, liquefaction and…
Saudi and Iraq are looking at developing electrical interconnection project and co-operation in the field of renewable energy. This was discussed at a meeting in Riyadh between Saudi Arabia’s Minister of Energy, Prince Abdulaziz bin Salman bin Abdulaziz Al Saud, with Iraqi Minister of Electricity, Engineer Ziad Ali Fadel. The co-operation between the two countries is expected to help support the reliability of the electrical networks in both the countries, achieving economic savings, thus promoting the optimal energy mix for electricity production and boosting up the integration of renewable energy into the electrical networks. This will also help achieve optimal…
To implement its plan of using renewable energy by 2027 for its industrial production, OCP Group- Morocco’s phosphates and fertiliser producer, has signed a pact with the International Finance Corporation (IFC), the World Bank’s investment arm, on a 100 million-euro ($110 million) loan to build four solar plants to power its industrial operations. This is a part of OC’s investment plan worth 130 billion dirhams ($12.8 billion) to increase fertiliser production using renewable energy by 2027. In its statement, the firm said that these solar plants will be built in the areas of Benguerir and Khouribga, which has Morocco’s largest…
The 11th Renewables Talk in Abu Dhabi, UAE held on April 12 focussed on challenges, opportunities, and best practices towards achieving renewable energy targets and clean energy transition for a cleaner and more sustainable energy future. The event was co-hosted by the European Union Delegation to the UAE and the International Renewable Energy Agency (IRENA) Secretariat, in partnership with the Permanent Mission of the United Arab Emirates to IRENA. The delegates present at the event were EU Ambassador to the UAE, Andrea Matteo Fontana, IRENA Director-General, Francesco La Camera, Dr. Nawal Al-Hosany, Permanent Representative of UAE to IRENA, Walburga Hemetsberger,…
StoreDot, An Israel-based fast battery charging technology venture, has now decided to manufacture silicon battery packs. The firm said that the move would likely facilitate the car makers to design and produce cheaper, lighter, and more sustainable Electric Vehicles (EVs). The battery solution firm said it could help EV owners move towards a smaller battery pack regime with increased car efficiency, which could pave the way for the faster adoption of the lesser polluting transportation system. “StoreDot’s technology has reached sufficient charging and discharging cycles, enabling vehicle manufacturers to include a smaller battery pack. Smaller packs with XFC translate into…
Abu Dabhi-based renewables firm Masdar, has closed its acquisition of a 50% stake in a combined solar and battery storage project from EDF Renewables, North America. This was revealed by the firm in a statement without disclosing the financial details of the deal. Located in California, the stake in Big Beau project was first negotiated and acquired in the year 2020 from EDF Renewables, North America. It comprises a 128-megawatt (MWac) photovoltaic (PV) solar plant and a 40 MW/160 MWh battery energy storage system. The firm informed that it is one of the eight projects where Masdar and EDF have…
American firm Renewable Innovations, dealing in the zero-carbon and green solutions alternative fuel industry, has signed an agreement to form a joint venture with MENA Holdings, LLC for building an assembly facility in the Kingdom of Saudi Arabia. This facility will produce hydrogen fuel cell products for distribution in the Middle East and North Africa. MENA informed that the Middle East market is quite hopeful about hydrogen and due to significant interest there is substantial funding available for this market. It is expected that the products from Renewable Innovations will be a source of power generation from this green hydrogen…