Yellow Door Energy, the leading sustainable energy partner for businesses in the Middle East and Africa, today announced its results for the first half of 2024.The company successfully commissioned 14 solar power plants across the UAE, Bahrain, and Oman, adding 20 megawatts-peak (MWp) to its rapidly expanding portfolio. Additionally, Yellow Door Energy acquired five operating projects in Oman with a total capacity of 3.5 MWp, further solidifying its leadership position in the region. In H1 2024, Yellow Door Energy also raised USD 28 million in debt financing, which will allow the company to further its commitment to providing solar leases…
Author: Chitrika
Adani Power Limited has established a new wholly-owned subsidiary, Adani Power Middle East Ltd., in Abu Dhabi, United Arab Emirates, following its expansion into Singapore.The company informed the exchange that Adani Power Middle East Ltd. will focus on investments in power, infrastructure, and related industries. The subsidiary has an authorized share capital of $27,000, with each share priced at $1. Adani Power Limited owns all the shares of the new subsidiary.APL is expanding its footprint in the thermal power sector, both in India and internationally, through initiatives aimed at enhancing its infrastructure and technological base. APL is also notable for…
Dubai Electricity and Water Authority (DEWA) has established itself as a cornerstone in the UAE’s ambitious journey towards achieving net zero emissions by 2050. Under the visionary guidance of the wise leadership, DEWA has launched numerous pioneering projects and initiatives that underscore its steadfast commitment to sustainability and innovation.Central to DEWA’s sustainability strategy is the Mohammed bin Rashid Al Maktoum Solar Park, the largest single-site solar park in the world, based on the Independent Power Producer (IPP) model. With a planned production capacity of more than 5,000 MW by 2030 and a total investment of AED 50 billion, the solar…
Mohammad Ali Rashed Lootah, President and Chief Executive Officer (CEO) of Dubai Chambers, said that Dubai-based companies had invested a total of $1.4 billion in the Chinese market from 2015 to 2023.Lootah highlighted the increasing interest of Dubai-based companies in expanding their presence in China, driven by enhanced trade exchanges and the growing potential for mutual investments between the UAE and China.“Both nations are working closely to boost cooperation across various sectors, particularly in the new economy, technology, entrepreneurship, tourism, small and medium enterprises (SMEs), energy, renewable energy, agriculture, aviation, logistics, infrastructure, and industry. These efforts are crucial for the…
The Egyptian Cabinet has greenlit a proposal from the Emirati company Masdar for commencing studies on a solar energy station project capable of generating up to 4 gigawatts.In addition, they have approved advancing a project by the same company to harness solar energy potentials totaling 1,200 megawatts, along with the inclusion of storage batteries holding a combined capacity of 240-megawatt hours. Furthermore, the cabinet authorized the progression of several protocols for implementing renewable energy initiatives proposed by Empower, a subsidiary of the Emirati Al Nowais Investment Group.These initiatives involve integrating storage batteries, either as complements to solar energy systems or…
Enlight Renewable Energy (Enlight) a renewable energy platform in Israel commenced operations at the Tapolca solar project in Hungary. This project has a production capacity of 60 megawatts. The project began commercial sales of electricity on July 31, 2024, ahead of the Company’s original schedule.This is Enlight’s fifth project in Hungary, bringing the Company’s total generating capacity in the country to 144 MW. Tapolca will sell electricity at merchant prices, and it is expected to provide green power equal to the total annual consumption of approximately 30,000 Hungarian households.The Project’s total construction cost amounted to $48 million. Revenues in its…
In line with the UAE’s Net Zero by 2050 Target and 2050 Clean Energy Strategy, Dubai Investment Real Estate (DIR), a leading real estate developer in the UAE, Al Mujama, a leading Owners Association in the UAE, Yellow Door Energy (“YDE”), the leading sustainable energy provider for businesses in the Middle and Africa, and Clyde Engineering, today successfully inaugurated a 1.2 megawatt-peak solar power system.The solar power system is spread across 9 residential buildings in the premier residential community of RITAJ, located in Dubai Investments Park. Over 2,000 solar panels have been installed on the roofs of the buildings, producing…
Recently, Egypt’s Minister of Electricity and Renewable Energy Mahmoud Essmat reiterated his commitment to completing the Saudi-Egypt electricity interconnector project by early summer 2024. He emphasized on the importance of close collaboration and coordination between all involved parties.The project, expected to be operational in two phases, will create new opportunities for Egypt and Saudi Arabia, with the first phase scheduled to begin in July 2025. The project is expected to be fully operational by early 2026 and is estimated to cost $1.8 billion.Essmat has been holding intensive meetings with stakeholders responsible for project implementation, as well as representatives of relevant…
Arabia – Acwa Power, a leader in power generation and water desalination plants, has announced that its 700MW AlRass1 Solar Photovoltaic Project located in the Qassim province of Saudi Arabia has entered into commercial operations.The project was developed through Ar Rass Solar Energy Company, a special-purpose vehicle established by Acwa Power (with a 40.1% stake) to finance the engineering, procurement, commissioning, and operation of the plant facility.The Acwa consortium partners include the State Power Investment Corporation of China with a 39.9% stake and the Water and Electricity Holding Company (Badeel), a wholly-owned PIF Portfolio Company with 20% share in the…
AMEA Power, one of the fastest-growing renewable energy companies, announced today the signing of a Power Purchase Agreement (PPA) and Implementation Agreement (IA) with Ethiopian Electric Power for the development and operation of a 300MW wind energy project in Ethiopia. This significant milestone marks a major step forward in AMEA Power’s commitment to renewable energy and sustainability in Africa.The signing ceremony, which took place on Saturday August 17th 2024, was attended by H.E. Ato Ahmed Shide, Minister of Finance of Ethiopia; H.E. Sheikh Shakhboot Bin Nahyan Al Nahyan, Minister of State for Foreign Affairs of the UAE; H.E. Mohamed Salem…