The Egyptian Ministry of Electricity and Renewable Energy has approved a bid from the Abu Dhabi Future Energy Company (Masdar) to build solar power plants with over $900 million in investments, an official source.The offer includes the construction of power plants with a total capacity of approximately 1,000 megawatts in Upper Egypt, including Aswan, the official said.Masdar will carry out and finance the project under the build, own, operate (BOO) model, while the Egyptian Electricity Transmission Company (EETC) will commit to purchasing the entire produced energy for about 25 years, he added.The final contracts and energy purchase price agreements are…
Author: Chitrika
Rania A. Al-Mashat, Minister of Planning, Economic Development, and International Cooperation, who also serves as Egypt’s Governor at the New Development Bank (NDB), met with Jin Liqun, President of the Asian Infrastructure Investment Bank (AIIB), during the 9th Annual Meeting of the Board of Governors. The meeting, themed “Investing in a Sustainable Future,” took place in Cape Town, South Africa.During the meeting, Al-Mashat emphasized the AIIB’s significant role in expanding its operations in Egypt since 2016, including the financing provided to both the public and private sectors. She called for enhanced collaboration to advance Egypt’s development priorities and increase opportunities…
QatarEnergy has announced that it will build a new solar power mega project at Dukhan, which will more than double the country’s solar energy production, significantly contributing to lower carbon emissions in the framework of a realistic energy transition.The new project will boost Qatar’s PV solar power production capacity to about 4,000 megawatts by building one of the world’s largest solar power plants in the Dukhan area, with a production capacity of 2,000 megawatts.The announcement was made by HE the Minister of State for Energy Affairs, Saad Sherida al-Kaabi, who is also the President and CEO of QatarEnergy, at a…
ACWA Power has signed financing agreements worth 9.7 billion Saudi riyals ($2.6 billion) with a consortium of banks for three large-scale PV solar projects.The funding will be used for the development, design, construction, and operation of the projects, the company said in a statement issued to the Saudi Stock Exchange on Sunday.Buraiq Renewable Energy Company, Moya Renewable Energy Company, and Nabah Renewable Energy Company, which are owned jointly with ACWA Power, Badeel, a wholly owned subsidiary of Public Investment Fund, and Saudi Aramco Power Company, signed the agreements with the bank consortium.The consortium includes Banque Saudi Fransi, Emirates NBD, First…
The Ministry of Energy and Infrastructure (MoEI) and the Ras Al Khaimah Petroleum Authority (RAKPA) have entered into a Memorandum of Understanding (MoU) to strengthen their partnership within the energy sector. The MoU was signed by Eng Sharif Al Olama, Undersecretary for Energy and Petroleum Affairs at MoEI, and Christopher Wood, Chief Executive of RAKPA.The MoU serves as an enabler for collaboration on sustainable energy transformation, focusing on activities such as sharing geological, geophysical, and hydrogeological surveys and studies, conducting research on natural hydrogen, investigating carbon capture via mineralization, and evaluating geothermal energy potential in Ras Al Khaimah and the…
On August 22, Gstar formalized a strategic partnership by signing a Memorandum of Understanding (MoU) with a prominent Middle Eastern consortium represented by Siraj Group, an investment company based in the UAE. The MoU focuses on a 2GW solar module manufacturing project centered on high-efficiency N-type technology, marking a significant step in Gstar’s strategic business expansion in the Middle East. The signing ceremony, attended by Gstar Chairman Mr. Wang Yang, signifies the further development of Gstar’s global integrated supply chain ecosystem.2GW High-Efficiency Module Manufacturing MoUThe MoU establishes a partnership for the development of a 2GW high-efficiency solar module manufacturing project.…
Hodler Investments (HODLER), a UAE-based investment company, headquartered in the Dubai Silicon Oasis, with a portfolio in energy, AI, and digital asset mining startups has announced its ongoing plans for a $500 million Digital Energy Infrastructure (DEI) Fund. These funds are used to build a closed-ended exempt Fund, subject to compliance and regulatory approvals. The company in association with asset mining startups such as PermianChain, Brox Equity, and others has announced its ongoing plans for a $500 million Digital Energy Infrastructure (DEI) Fund. The DEI Fund has already secured soft commitments from lead investors and in-kind contributions in addition…
Loop Global Inc, a US-based turnkey provider of EV charging solutions, announced the opening of its regional office in Abu Dhabi, which will showcase Loop’s innovative charging technology and serve as the base for sales and distribution in the broader region.“Our aim is to be the UAE’s No. 1 EV charging provider and to use Abu Dhabi as a base for our regional expansion,” said Loop CEO Olga Shevorenkova. “We will look to recruit and hire locally as well as look down the road at opportunities to bring manufacturing and R&D activities to Abu Dhabi, which would allow it to…
Saudi Arabian FAS Energy company will assist Kyrgyzstan with the installation of solar panels on the rooftops of government buildings, Trend reports.According to Kyrgyzstan’s Ministry of Energy, a cooperation memorandum was signed in Bishkek by Minister of Energy Talaibek Ibraev and FAS Energy CEO Turki Al Hokair.During the meeting, the parties discussed interstate energy cooperation, Kyrgyzstan’s energy potential, joint project implementation, and the exchange of modern technology expertise.FAS Energy, the renewable energy development arm of the Fawaz Al Hokair Group, provides private and public clients with guidance on establishing renewable energy facilities.Kyrgyzstan generated a total of 9.08 billion kWh of…
In a major step towards eco-friendly operations, UNDP Bahrain has installed a cutting-edge solar energy system on the rooftop of the UN House. This initiative is a significant part of UNDP’s global Greening Moonshot Initiative, which is committed to reducing our carbon footprint by 50% by 2030.The newly inaugurated solar-powered installation boasts a capacity of 52 kWp, supplying a portion of the United Nations House’s electricity needs. This move not only contributes to significant CO2 reductions but also brings us closer to achieving carbon-neutral operations, leading to substantial economic savings and more efficient resource management.“At UNDP, we are deeply committed…