The Asian Development Bank (ADB) recently signed a $121.55 million financing package with Dynamic Sun Energy Private Limited. This collaboration is undertaken to build and operate a 100-megawatt (MW) grid-connected solar photovoltaic power plant in Pabna, Bangladesh. The plant is the country’s first private sector utility-scale solar facility to secure support from global financiers. ADB arranged, structured, and syndicated the debt package as the sole mandated lead arranger and bookrunner. The financing package comprises a $46.75 million loan from ADB, a syndicated B-loan of $28.05 million from ILX Fund I, an Amsterdam-based emerging market private credit fund focused on supporting…
Author: Chitrika
The Qatar General Electricity and Water Corporation “Kahramaa” recently shared its plans to launch its Qatar National Renewable Energy Strategy (QNRES). Qatar is one of the leading exporters of Liquified Natural Gas (LNG) and relies heavily on thermal sources of energy to cater its electricity demands. As per the strategy prepared by the authority, it has planned to increase the share of renewable energy in the country from the existing 5 percent to 18 percent by 2030. The QNRES also plans to increase large-scale renewable power generation to about 4 GW by 2030. QNRES recommended the installation of distributed solar generation up…
Azerbaijan ministry of energy announced country’s first renewable energy auction with the support of the European Bank for Reconstruction and Development (EBRD), for a 100 megawatt solar power plant project in Gobustan.The public call for applications is accessible on the ministry’s website. Interested parties can ask for the request for qualification documentation from 30 April and are invited to submit their statements of qualification by 14 June. As Azerbaijan prepares to host the United Nations COP 29 climate change conference in Baku in November 2024. The country has committed to increasing the renewable energy share of its installed electricity-generation capacity…
Technip Energies has been awarded a contract by TotalEnergies and OQ for the Marsa LNG bunkering project located in Sohar, Oman. This project is projected to award between €500 million and €1 billion of revenue and claims to use energy from solar farms. This plant in Oman is expected to use electric-driven motors instead of conventional gas turbines which will be powered by renewable electricity from a planned nearby solar farm which is expected to cover 100% of the annual power consumption of the LNG plant. The contract covers the Engineering, Procurement, and Construction (EPC) of a natural gas liquefaction…
Solar Power Europe in its recent report studied the role of solar in bringing energy security to the region. A recent study by Solar Power Europe found the electricity mix in Oman to be primarily based on natural gas. In 2022, almost 96% (38 TWh) of power generation came from natural gas, solar PV (1.5 TWh) accounted for almost 4%, while wind (0.1 TWh) for less than 1% (OPWP, 2023). The report found that the highest Global Horizontal Irradiation (GHI) is concentrated in the governorate of Dhofar, within the south of the country and in the northeast areas, where solar…
Nordex has received an order to supply 14 N163/5.X turbines from Borusan EnBW Enerji, a wind energy project operator and developer in Türkiye. At the end of March, Wind power company Nordex Group received an order to supply 14 N163/5.X turbines from Borusan EnBW Enerji. Enerji is a developer and operator of wind energy projects in Türkiye. The Delta4000 series turbines are projected for the 80 MW Pelit wind farm in the Sivas Province. The contract also includes a Premium Service for the turbines for 10 years. Based on the contract Delta4000 series turbines are expected to be used for…
GameChange Solar (GCS), a global supplier of single-axis solar tracking solutions for ground-mounted PV plants, formed a strategic partnership with Jiangsu Zhenjiang New Energy Equipment Co. Ltd. (JZNEE), a China-based listed company. This collaboration between Game Change Solar and Jiangsu marks a step towards enhancing local manufacturing capabilities for solar tracker components in the Middle East. Under this partnership, JZNEE will establish a local manufacturing facility in Dammam, KSA, to produce up to 3 GW, expandable to 5 GW, of solar tracker components for GCS’s Genius Tracker™. The goal is to have the facility operational by June 2024. This initiative…
Iran has operationalised a wastewater treatment plant in western Tehran. Iran’s Deputy Minister of Energy Mahmoud Kamaani said the operation of a wastewater treatment plant can help prevent the release of 220,000 metric tons of carbon dioxide gas, annually which has a significant environmental impact.Kamaani inaugurated the concentrated biomass power plant which has a nominal capacity of 7.2-megawatt simultaneously with the opening of the wastewater treatment plant on Thursday, according to IRNA’s report from the Ministry of Energy.The ceremony was held in Tehran and inaugurated via video conference by President Ebrahim Raisi and Energy Minister Ali Akbar Mehrabian.Kamaani who is…
Canoo Inc., a mobility company, planned to use its electric vehicles in a pilot program by Red Sea Global (RSG), the developer behind the regenerative tourism destinations. The Red Sea and AMAALA Red Sea Global plan to set up pilot Canoo’s Lifestyle Vehicle (LV), i.e., Lifestyle Delivery Vehicle (LDV) 190, and the Bulldog pickup truck. The Canoo vehicles are claimed to be piloted for travel between Red Sea Global’s international airport by its various resorts, facilities, and excursions. This trial is expected to help tailor Canoo’s zero-emission vehicles to RSG’s use cases and mobility needs. Canon’s premium LV will provide…
SolarEdge Technologies, a smart energy technology company, has announced the acquisition of the entire share capital of Wevo Energy Ltd. (Wevo) a software startup specializing in electric vehicle (EV) charging. They collaborated for the optimization and management of sites with large quantities of EV chargers such as apartment buildings, workplace carparks, and public charging locations. Wevo’s an EV charging management system company whose software is designed to be vendor-agnostic and support industry-leading open protocols, enabling multi-user pricing and billing, tiered prioritization of charging schedules, predictive load management, and a range of additional services. To date, Wevo has electrified many thousands…