Israeli renewables firm Enlight Renewable Energy Ltd. has won an offtake contract for the majority of the future output of its 94-MW Pupin wind project in Serbia. As per the contract, the terms of the 15-year inflation-linked power purchase agreement (PPA), state-owned utility Elektroprivreda Srbije will buy 72% of the wind park’s generation at EUR 69 (USD 73m) per MWh, linked to Eurostat’s Consumer Price Index. The balance will be sold on a merchant basis. The Nordex-powered facility has already entered construction and is expected to be completed in the second half of 2025. As per the firm, it will…
Author: Saur News Bureau
Egypt’s Foreign Minister, Sameh Shoukry, and his Greek counterpart have reaffirmed their commitment to the “GREGY interconnector,” a project that aims to link Egypt and Greece via a subsea electricity cable. This project would enable the export of electricity generated by Egyptian solar facilities to both Egypt and the broader European energy market. This was disclosed during the discussions held at the recent UN General Assembly. The Copelouzos Group, a prominent Greek conglomerate, and Infinity Power, a joint venture between UAE-based renewable energy firm Masdar and Egyptian company Infinity, lead the GREGY interconnector project. The firm said that this groundbreaking…
The European Financial Institution for Reconstruction & Improvement (EBRD) is supporting Morocco’s pharmaceutical private sector with a 380 million Moroccan Dirham (MAD) ($ 36.8 M) loan to a diversified industrial Moroccan group operating in various areas. In its statement, it said that the funds will be provided to Dislog Group, a leading producer and distributor of hygiene & pharmaceutical merchandise, in two tranches. MAD 270 Million ($26.2m) can be utilised by Dislog to acquire Steripharma, a domestic pharma manufacturer. The remaining $10.5 million will finance the development of new green-certified industrial constructing and logistics platform in addition to the set…
Following the National Renewable Energy Program, Saudi Arabia has shortlisted five of 15 domestic and international bidders to construct two photovoltaic solar projects, estimated to be more than $1 billion and having the capacity of 1,500 MW, in the fourth round of auction. With this, the total awarded renewable energy projects will rise to 11 GW under the program, according to Saudi Power Procurement Co. The firm will purchase the power and manages bidding and development of renewable energy projects. The firm did not confirm the final dates when the winners will be announced. The firm said that a consortium…
The power grids of Saudi Arabia and Greece will be linked up with the goal of supplying Europe with clean energy. To this end, the countries have signed a deal for the establishment of a jointly-owned company. The newly formed firm- Saudi Greek Interconnection-will join Greece’s IPTO and Saudi Arabia’s National Grid, each with a 50% stake. It is reported that Greece’s energy mix is already 40% renewable, and the country will boost this further, while lowering costs. Thus, Greece also has plans to build an undersea cable that will link its grid to Egypt for renewable energy. As per…
UAE’s renewable energy firm AMEA Power will develop a solar photovoltaic project in Tunisia. The project is estimated to cost $86 million and will be located in Metbassta, Kairouan governorate. The project was awarded to the UAE firm in December 2019. The firm confirmed that it has reached financial close on the 120-megawatt solar project. After completion, it will be the company’s first operational asset in the country. “The project will be the first large-scale, privately financed solar project in Tunisia and one of the largest infrastructure public-private partnership projects in the country over a decade,” the International Finance Corporation…
Kuwait has ambitious plans to boost renewable energy in the country. This was highlighted in the recent high-level event hosted by a delegation of the European Union to Kuwait titled “Supporting a Just Transition in Kuwait: Decent Jobs for a Sustainable Future.” The event was organized in collaboration with the General Secretariat of the Supreme Council for Planning and Development (SCPD) and the International Labor Organization (ILO). Its primary focus was on highlighting the significance of a just transition in addressing the impacts of climate change in a manner that prioritizes human rights and social concerns. The event occurred before…
The Eighth Arab Forum for Renewable Energy and Energy Efficiency has approved Jordan as the headquarters of the Arab Center for Renewable Energy, electric vehicles, and smart grids to unify regulatory legislation and instructions, as per news reports. According to a statement issued by the Arab Renewable Energy Commission (AREC), the forum chose Amman as the center’s headquarters due to Jordan’s accumulated expertise in qualifying trained technical personnel, classifying companies and institutions operating in the sector, and being the connection point and investment gateway for all Arab countries. Speaking during the forum, AREC’s Secretary General, Mohammad Ta’ani, said that the…
Solis, the world’s third largest PV inverter manufacturer, recently hosted a highly successful technical seminar in Lebanon. This event served as a platform to unite enthusiastic customers and industry experts. Key highlights of the seminar included: Product Showcasing: Solis introduced its latest offerings, including the residential Hybrid Pro versions (6kW & 8kW), the S3 Logger, the all-new 29-50 kW C&I energy storage inverter, and the MV station. These cutting-edge products represent Solis’ dedication to meeting the growing demands of the solar storage industry. New Features Unveiled: Attendees were given an in-depth look at the advanced features of the Hybrid Pro…
The Egyptian Cabinet has approved projects proposed by Dubai-based AMEA Power LLC to install 1 GW of solar and 500 MW of wind capacity in the country. According to a Cabinet statement, AMEA Power will ploy 1 GW of solar panels in Aswan Governorate of Egypt. While, the 500-MW wind project will be located in Ras Ghareb, Red Sea Governorate. AMEA Power is currently building 1 gigawatts of solar and wind plants in Egypt through the company’s subsidiaries Abydos Solar and Amunet Wind Power. Once commissioned, the Amunet Wind Park Project will be the largest of its kind in Africa.…