The Eurasian Development Bank has signed an agreement to finance the construction of a solar power plant in the village of Toru-Aigyr in Kyrgyzstan’s Issyk-Kul region.The project, which will use photovoltaic solar energy conversion with an installed capacity of up to 300 MW, will be undertaken in partnership with Bishkek Solar LLC.EDB has commented: “The project includes several key agreements, including an agreement with JSC “NES Kyrgyzstan” to purchase all electricity for 25 years, an agreement on public-private partnership with the Ministry of Energy of the Kyrgyz Republic, as well as an investment agreement on the implementation of the project…
Author: Chitrika
Dubai Electricity and Water Authority (DEWA) has signed a memorandum of understanding (MoU) with Parkin, the largest supplier of paid public parking facilities in the emirate, to expand the number of the EV ‘Green Charger’ stations in several prime locations managed by Parkin.The MoU was signed by Waleed Bin Salman, Executive Vice President of Business Development and Excellence at DEWA, and Mohamed Abdulla Al Ali, CEO of Parkin.Saeed Mohammed Al Tayer, MD & CEO of DEWA said by the end of April 2024, the number of electric vehicles in Dubai reached over 30,000 vehicles. The number of registered customers in…
The Ministry of Finance announced the issuance of green bonds totaling USD 2.5 billion, marking the first issuance of its kind in the region, aimed at funding environmentally friendly projects.The ministry said that the bonds are divided into two tranches: a USD 1 billion tranche with a five-year maturity priced at a 30 basis point spread over US Treasuries and a USD 1.5 billion tranche with a 10-year maturity priced at a 40 basis point spread over US Treasuries.Qatar achieved the lowest spread ever recorded by any bond-issuing country in the Middle East, Central and Eastern Europe, and Africa.The Ministry…
China-based Trina Solar signed three distributor partnerships, across the Middle East and Africa for the supply of 110MW of Vertex N modules to the region. Trina Solar partnered with Noon for renewable energy in Lebanon, Al Takamul Engineering in Palestine, and Golden Sun Solar Solutions in Sudan. Trina Solar is expected to deliver a total of 110MW modules including the cutting-edge Vertex N modules tailored to the region’s unique energy landscape. “We are thrilled to welcome Noon for Renewable Energy, Al Takamul Engineering, and Golden Sun Solar Solutions to our esteemed network of distributors,” remarked Zhao Lei, Head of Strategic…
Prince Abdulaziz bin Salman, the Minister of Energy announced that Saudi Arabia has achieved new world records in reducing the cost of producing electricity from wind energy, with its Al-Ghat and Wa’ad Alshamal project. In a statement on this occasion, Minister of Energy His Royal Highness Prince Abdulaziz Bin Salman bin Abdulaziz Al Saud has expressed his thanks and gratitude to the Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud, and to His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud, the Crown Prince, Prime Minister and the Chairman of the Supreme Committee for…
A 1.9-megawatt solar power plant was inaugurated at the Siemens Energy Egypt Service Center in the Suez Canal Economic Zone (SCZone). The plant, comprised of approximately 3,280 photovoltaic solar panels spread over 8,500 square meters, is expected to generate about 3 GW-hours of electricity annually, covering 90% of the site’s needs.The inauguration ceremony was attended by Mohamed Shaker, Minister of Electricity and Renewable Energy; Walid Gamal El-Din, Chairperson of SCZone; Frank Hartmann, German Ambassador to Cairo; and Vinod Philip, Member of the Executive Board of Siemens Energy. Gamal El-Din emphasized SCZone’s commitment to sustainable development and encouraged all companies operating…
The World Bank Group, Abu Dhabi Future Energy Company PJSC (Masdar), and the Government of Uzbekistan have signed a financial package to fund a 250-megawatt (MW) solar photovoltaic plant with a 63-MW battery energy storage system (BESS). The project aims to expand clean and reliable electricity access to approximately 75,000 households.The project marks Central Asia’s first renewable energy initiative with an integrated BESS component. Introducing the innovative BESS component will improve the efficiency and flexibility of the power system, providing greater security of supply and helping to mitigate the intermittency of renewable generation.The financing package includes up to $53 million…
Prince Abdulaziz bin Salman bin Abdulaziz; Minister of Energy, recently met Jennifer M. Granholm, United States Secretary of Energy in Riyadh. Within the context of the partnership for advancing clean energy agreement, signed by the Kingdom of Saudi Arabia and the United States of America, in Jeddah on July 15, 2022, the Ministers discussed ways to enhance cooperation between the two countries in various energy fields, including carbon management, clean hydrogen, nuclear energy, electricity and renewables, innovation, energy sector supply chain resilience, and energy efficiency. The two ministers also addressed the Kingdom’s efforts to tackle climate change through local and…
Morocco has long prioritized a clean energy future, allocating substantial resources to renewable sources. Since 2009, the nation has invested $6 billion in solar, wind, and other clean technologies. This dedication is reflected in Morocco’s current energy mix, with renewables accounting for a commendable 37.6%, which the country aims to increase to 52% by 2050.Morocco’s ambitions extend far beyond these initial milestones. Recognizing the pressing need to expedite the transition from fossil fuels, the nation stands ready to take a significant leap forward.Morocco is poised to significantly bolster its energy production with a $7 billion investment. On Wednesday, Energy Minister…
According to the Renewable Energy and Energy Efficiency Organization – an affiliate of the Energy Ministry — solar power plants had the lion –share in the total renewable capacity during the aforementioned period. According to the overall energy mix, currently, solar power plants account for 58% of renewable electricity production and were followed by wind farms which represented 31% of the total capacity. Small hydropower plants and biomass plants stood next, as they accounted for 9% and 1% of the total renewable capacity respectively in April. The current Iranian government is working on plans to increase the country’s renewable capacity…