Abu Dhabi Future Energy Company PJSC – Masdar, the UAE’s clean energy leader, has agreed with Endesa S.A. to acquire a 49.99 percent stake in four solar plants in Spain, with a total capacity of 446 megawatts (MW). The transaction, which is subject to regulatory approvals and other conditions, would see Masdar invest €184 million for the stake in the assets, which have an enterprise value of €368 million.These operating assets mark a significant milestone in Masdar’s continued growth in the Iberian Peninsula and across Europe, and further its commitment to advancing the region’s renewable energy ambitions. The proposed acquisition…
Author: Chitrika
SIG and Yellow Door Energy launched SIG’s 2-megawatt solar project in Riyadh. The project, under the patronage of Saudi Authority for Industrial Cities and Technology Zones (“MODON“), emphasizes the importance of greening industrial cities and supporting the MODON Green Initiative. This solar project aligns with SIG’s ambitious sustainability strategy, which aims to create packaging solutions that deliver more to society and the environment than they take. As part of this strategy, SIG is focused on reducing greenhouse gas emissions across its entire value chain, investing in renewable energy, and exploring circular economy practices that minimize waste and maximize resource efficiency.The…
Dubai Electricity and Water Authority (DEWA) has invited international developers to submit expressions of interest for a tender to develop the 1,600-megawatt (MW) seventh phase of the Mohammed bin Rashid Al Maktoum Solar Park. This phase, which is expandable to 2,000MW, will use photovoltaic solar panels and a battery energy storage system with a capacity of 1,000MW for six hours, providing a total storage capacity of 6,000 megawatt-hours (MWh). This will make it one of the world’s largest solar-plus-storage projects. The phase will be implemented under the independent power producer (IPP) model. DEWA has invited international developers or consortia to…
Saeed Mohammed Al Tayer, MD & CEO of Dubai Electricity and Water Authority (DEWA), has inaugurated the second cycle of the Cleantech Innovators exhibition that DEWA’s Sustainability and Innovation Centre is organising as part of ‘UAE Innovates 2025’, the 10th edition of the country’s innovation month. Al Tayer was briefed on the latest solutions – contributing to efforts to shape a sustainable future – by key local and international companies. These include Huawei, Siemens Energy, Emirati company Eanan Manufacturing, LONGi Solar DMCC, JinkoSolar, Trina Solar, ABB Ltd, Sungrow, GE, Canadian Solar and Anhui Huasun Energy. The innovations focused on green…
Saudi-listed ACWA Power, the world’s largest private water desalination company, and a leader in energy transition and first mover into green hydrogen, announced its consolidated financial results for the full year ended 31 December 2024.Operating income before impairment losses and other expenses stood at SAR 2,983 million amid unprecedented business growth, while net profit—attributable to equity holders of the parent—reached SAR 1,757 million for the period, 5.7% higher compared to the same period in 2023. “We are very pleased with the results achieved in 2024. We are well on track to achieve the targets of tripling the size by 2030,…
Enlight Renewable Energy (Enlight), a renewable energy platform, announced that its two companies’ energy storage facilities have won bids. They won the bid in the Israel Electricity Authority’s first availability tariff tender process. The two sites, Neot Smadar and Ohad are located in the south of Israel and have a combined grid connection capacity of 300 MW AC.According to the tender’s terms, after supplying power at the availability tariff rate for five years, the Company may transition to selling electricity into the deregulated market as well as increase the facilities’ storage capacity. Securing a grid connection of 300 MW AC…
In the presence of Eng. Karim Badawi, Minister of Petroleum and Mineral Resources, Hassan Allam Utilities, and Infinity, in partnership with Misr Petroleum and Gastec, have signed a Shareholders Agreement for the deployment of electric vehicle (EV) charging stations across Egypt. This agreement will leverage the extensive filling station networks of Misr Petroleum and Gastec for installing and operating EV chargers at strategic high-traffic locations across the nation.This initiative is a key pillar of the Egyptian Ministry of Petroleum and Mineral Resources’ strategy to advance sustainable mobility and diversify energy solutions. Under the leadership of H.E. Eng. Karim Badawi, Minister…
India and Israel are set to deepen their economic and trade engagement with the India-Israel Business Forum and the India-Israel CEO Forum. At the forum, they would discuss Joint projects in clean energy and sustainability that will promote renewable energy, water conservation, and green technologies. Additionally, agriculture and food security will benefit from Israeli expertise in precision agriculture, drip irrigation, and sustainable farming solutions.India and Israel have witnessed steady growth in bilateral trade, which has diversified significantly beyond traditional sectors like diamonds and precious metals to include engineering goods, chemicals, electronics, defense, and agricultural products. Israeli investments in India have…
Renewable energy company CleanMax today announced that it will obtain AED 99 Million (USD 27 Million) long-term credit facility from HSBC to develop and finance its onsite solar portfolio in the UAE. Cleanmax is a renewable energy provider for the Commercial and Industrial (C&I) sector and a Brookfield-backed company. The facility will cover 92 onsite solar assets, located in industrial facilities, malls, schools and universities. The financing arrangement also provides an uncommitted accordion of AED 37 Million (USD 10 Million) for the development of future projects, in alignment with UAE’s Net Zero 2050 Strategy.’ Move To Aid Solar Growth “This…
Sineng Electric, a global leader in solar and energy storage solutions, has joined forces with Trinasolar to supply its central PCS energy storage solution to the 300MWh Abydos Battery Energy Storage Project in Kom Ombo, Aswan Governorate. It is the first utility-scale energy storage project in Egypt, defining a new era for clean energy deployment in North Africa. Developed by AMEA Power and constructed by Energy China ZTPC, the 300MWh energy storage facility is a vital expansion of the existing 500MW Abydos solar power plant. By integrating a battery energy storage system (BESS), the project facilitates the efficient management of solar energy…