Abu Dhabi Future Energy Company PJSC – Masdar (Masdar), the United Arab Emirates’ clean energy powerhouse, recently acquired a 50 percent stake in Terra-Gen Power Holdings II, LLC (Terra-Gen), an independent renewable energy producers in the United States, from Energy Capital Partners (ECP). ECP, one of the largest private investors in power and renewable assets in the United States, has fully exited its position in Terra-Gen in connection with the closing of the transaction. Igneo Infrastructure Partners (Igneo), a global infrastructure investment manager, retains its existing 50 percent stake in Terra-Gen. Representing one of Masdar’s largest transactions, the deal further cements…
Author: Chitrika
A consortium comprising Saudi-listed ACWA Power, the Water and Electricity Holding Company (Badeel), a wholly owned company of PIF and Saudi Aramco Power Company (SAPCO), a wholly owned unit of Aramco, has secured financial close on 5.5 gigawatt (GW) solar PV projects worth 12 billion Saudi riyals ($3.2 billion). These initiatives are part of Saudi Arabia’s National Renewable Energy Program, which is overseen by the Ministry of Energy and is reflected in PIF’s commitment to develop 70 percent of the country’s renewable energy target capacity by 2030. “Financial closure of the projects signals our dedication and commitment to providing clean,…
MediSun Energy and MOAJ Holding formed MediSun Arabia, a joint venture designed to drive innovative energy solutions and tackle water scarcity in Saudi Arabia. As part of this strategic partnership, MOAJ Holding will invest USD 30 million to establish a cutting-edge manufacturing facility and co-develop a Saudi Brine Management Program with MediSun Energy. The venture will include the construction of a manufacturing hub to produce MediSun’s WEGen stacks, critical components supporting renewable energy projects across the region. This facility will boost local industrial capabilities and play a central role in Saudi Arabia’s renewable energy transition, aligning with Saudi Vision 2030. Additionally, MOAJ Holding will…
Minister of Electricity and Renewable Energy, Mahmoud Esmat, outlined key targets during the BRICS Energy Ministers Conference, including the goal for renewable energy to comprise over 42 percent of Egypt’s energy mix by 2040 and ambitions to capture 5-8 percent of the global trade for green hydrogen by the same year. During the opening of the conference in Moscow, Esmat highlighted Egypt’s commitment to transitioning to sustainable energy sources and leveraging its abundant renewable resources, particularly solar and wind energy. Esmat noted that Egypt’s strategy focuses on effectively managing and maximizing the benefits of its natural resources while aiming to…
Recently, Sungrow, the world’s leading inverter seller in 2023, delivered 66 sets of its energy storage system, PowerTitan 2.0, in the UK, demonstrating its acceleration of energy storage deployment in Europe. In the Middle East, over 1,500 sets of PowerTitan 2.0 are set for deployment, contributing to one of the world’s largest energy storage projects with a capacity of 7.8 GWh. Similarly, in Asia, multiple PowerTitan 2.0 projects have been successfully commissioned, showcasing impressive performance in cost reduction, safety, grid forming, etc. PowerTitan 2.0 has been rapidly gaining global traction, pioneering the energy storage industry’s transition into the AC Block…
Saudi Arabia recently launched a tender seeking to award 4.5 GW of solar and wind energy projects across the Kingdom. The Saudi Power Procurement Company (SPPC), responsible for tendering and offtaking the energy from the projects, has issued a request for a qualification (RfQ) for the sixth round of the National Renewable Energy Programme (NREP), which includes four solar and one wind energy projects. The project includes: Dawadmi Wind IPP – 1,500 MW in Riyadh Najran Solar PV IPP – 1,400 MW in Najran Samtah Solar PV IPP – 600 MW in Jizan Ad Darb Solar PV IPP – 600…
Nama Power and Water Procurement Company (Nama PWP) has revealed the list of qualified applicants to develop five wind-based Independent Power Projects (IPPs) across Oman. With an estimated total investment of RO 500 million, these projects are part of the government’s push to boost renewable energy as outlined in Oman Vision 2040 and its broader target to achieve net-zero emissions by 2050. The qualification round attracted strong interest from both international and local developers, with submissions from leading energy players. A total of 15 to 16 proposals were submitted for each of the five projects, and 12 applicants have been…
Helmy, Hamza & Partners, Baker McKenzie Cairo office, has advised AMEA Power, one of the region’s fastest-growing renewable energy companies, on two pioneering renewable energy projects in Egypt. The first transaction involved advising AMEA Power on the development of a 1000 MWh solar power plant, along with a 600 MWh Battery Energy Storage System (BESS). Following the successful completion of AMEA Power’s first solar project in Egypt, the company has now embarked on this new solar venture. Notably, this project marks the introduction of batteries into the country’s solar energy landscape and it is also the first Build-Own-Operate (BOO) solar…
Ducab Group, an end-to-end solutions provider and manufacturing firm in the UAE, is elevating and expanding its Environmental, Social, and Governance (ESG) and decarbonization strategy following its appointment of Schneider Electric’s Sustainability Business as a strategic advisor. Schneider Electric will work closely with Ducab Group to develop a comprehensive ESG and Climate Strategy aimed at achieving significant carbon emissions reductions across Scopes 1, 2, and 3, aligned with the Science Based Targets initiative (SBTi). These efforts will build on the company’s existing sustainability measures, which include two solar PV plants that power half of its Jebel Ali factory and the…
AMG and RWE Supply & Trading have inked a Memorandum of Understanding (MoU) for the long-term supply of green ammonia from AMG’s Indian plants. It explains how the firm can deliver up to 250000 tonnes of green ammonia per year. The ammonia will be sourced from AMG’S manufacturing facilities at Kakinada and Tuticorin, in India. About 200,000 tonnes of the green ammonia required for the purpose will be produced from the Tuticorin complex and 50,000 tonnes from the Kakinada region’s unit.The ammonia that is generated will satisfy the Renewable Energy Directive’s (RED III) requirements for Renewable Fuels of Non-Biological Origin…