Leading Indian firms have expressed an interest in investing clean energy and infrastructure projects in Egypt. This has been revealed by the firms to Egyptian President Abdel-Fattah El-Sisi. These Indian firms, which include the likes of Renew Power and Adani Group, are eyeing the renewable energy sector, the production of green hydrogen and infrastructure development in Egypt. As per a statement of the Spokesman for Egypt’s President, Bassam Rady, Sumant Sinha, who is the Founder, Chairman and CEO of ReNew Power, India’s leading renewable energy firm, has revealed in a meeting with the President, his “huge interest” in extending cooperation…
Author: Saur News Bureau
Post the World Economic Forum (WEF) and the Future Minerals Forum held in Saudi Arabia, Eurasian Resources Group (“ERG”) has expressed eagerness to make investments in the Kingdom for the long term to enable energy transition. ERG, which has its headquarters in Luxembourg, is a diversified natural resources group. The firm is looking to invest $50 million in the market. Further, it will augment this number every year. ERG will be setting its sights on exploring battery transition minerals in the Ad Dawidimi region of the Kingdom. These will be large scale in nature, and facilitated by technology at early…
The energy transition towards renewables has recently seen an increase in Middle Eastern countries, especially in Saudi Arabia, UAE, Egypt, Morocco etc. Once dependent on its plentiful reserves of oil and gas for wealth, the region is finally embracing the zero-carbon emission goals. As per IRENA’s World Energy Transitions Outlook (WETO), the region could obtain almost 26 per cent of its total primary energy supply from renewables by 2050, and its total renewable share could reach up to 53 per cent in the power sector. With that, the region would be able to achieve emission reduction equivalent to 1.1 Gt…
A 1.8 MWp photovoltaic (PV) plant has been installed at Coca-Cola Al Ahlia Beverages’ Al Ain bottling facility to provide clean energy for the facility’s operations. The project represents a significant expansion of Emerge’s commercial and industrial operations, increasing their total capacity to more than 25 MWp since their establishment in 2021. Emerge, a partnership between Masdar of the UAE and EDF of France, has entered into a deal with Coca-Cola Al Ahlia Beverages, the UAE-based bottler and distributor of Coca-Cola products, to build a 1.8-megawatt solar photovoltaic power plant at its facility in Al Ain. The commercial and industrial…
In a bid to promote the development of renewable energy projects, the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC), the insurance arm of the Islamic Development Bank (IsDB) Group, has signed an MoU with Abu Dhabi Future Energy Company or Masdar. Under the MoU, the bank and Masdar agree to co-operate “in promoting joint action in the origination, financing, and execution of renewable energy projects through ICIEC’s insurance support in its member states.” The agreement is expected to give a major boost to the transition to renewable and clean energy in markets of mutual interest to…
UAE flagship renewable energy company Masdar has revealed that it has signed agreements at Abu Dhabi Sustainability Week (ADSW) 2023 with three countries – Angola, Uganda and Zambia – to develop renewable energy projects with a combined capacity of up to 5 GW. Deals were done under ‘Etihad 7’ initiative, a UAE-led initiative that aims to raise public- and private-sector funds to invest in the development of Africa’s renewable energy sector. It was launched at ADSW 2022 by HE Sheikh Shakhboot Nahyan Al Nahyan, Minister of State in the UAE Ministry of Foreign Affairs and International Cooperation (MoFAIC) with the…
Emirates Water and Electrical energy Firm (EWEC), the primary utility infrastructure firm serving the Abu Dhabi region in the UAE with power and water, has issued a request for proposal (RFP) to 19 corporations and consortiums for a 1.5GW solar project to serve the needs of the city. To be located at Al Ajban , the planned project will take Abu Dhabi’s total solar capacity to 4GW, following the Noor Abu Dhabi and Al Dhafra installations. The Noor Abu Dhabi, among the world’s largest single-site solar power plant, and Al Dhafra Solar PV are already vying to be the largest…
International solar cell and module manufacturing maker JA Solar has signed an agreement with AMEA Power, a UAE-based power developer. The firm has joined hands with a consortium consisting of China Energy Engineering Group, China Energy International Group and Zhejiang Thermal Power Construction aimed at the supply of integrated solutions for gigawatt-scale wind and photovoltaic (PV) projects that AMEA is implementing. These projects include the Kom Ombo Abydos project based in Egypt. The said project will boast of a capacity of 560 MW, and upon completion, will be the largest single PV project in Egypt. JA Solar will be looking…
Sustainable Energy for All (SEforALL), the African Climate Foundation, Bloomberg Philanthropies, ClimateWorks Foundation, and the Chinese Renewable Energy Industries Association (CREIA) have together launched the Africa Renewable Energy Manufacturing Initiative (AREMI) at Abu Dhabi Sustainability Week, UAE, with an objective step up investment and action for renewable energy development in African countries to scale up renewable energy manufacturing capabilities. The group said that AREMI will help unleash renewable energy development of 1.2 TW, create 14 million jobs and 6.4 per cent economic growth in terms of GDP. AREMI will support the financial, technical, and socioeconomic investments needed for green transition…
The International Finance Corporation (IFC) – a key agency of World Bank – has partnered with the Kyrgyzstan government under the World Bank Group’s Scaling Solar program to develop up to 100-150 MW of grid-connected solar power. IFC said that this will help Kyrgyzstan to diversify its energy mix and increase its renewable power capacity. IFC will advise Ministry of Energy and the Ministry of Economy and Commerce, Kyrgyzstan, on structuring a public-private partnership (PPP) to mobilize private sector experience and capital to construct and operate a pilot solar plant. The project will be structured under the WBG Scaling Solar…