The UAE’s clean energy powerhouse, Masdar, and Infinity Power have signed a Power Purchase Agreement (PPA) with the Egyptian Electricity Transmission Company (EETC) to deliver a long-term supply of renewable energy generated by an onshore wind project, located in Ras Ghareb, Gulf of Suez region.Once constructed, the wind farm will have a capacity of 200MW and is estimated to produce 810,000MWh per year. Consequentially, it is predicted to avoid 403,672 tonnes of CO2eq emissions per year, helping to support Egypt’s sustainability ambitions.This venture will serve as the latest in a series of developments to expand Infinity Power’s portfolio. As the…
Author: Chitrika
Egypt has launched its first regulated voluntary carbon market for registering, issuing, and trading carbon reduction certificates, a significant step towards achieving economic and environmental sustainability, according to Rania Al-Mashat, Minister of Planning and Economic Development.Al-Mashat, speaking at a conference announcing the completion of regulatory frameworks for carbon reduction projects at the Financial Regulatory Authority (FRA) headquarters in the Smart Village, said the launch signifies Egypt’s commitment to innovative policies for mitigating climate change.“The establishment of this market is the result of collaboration between all relevant parties, including development partners,” Al-Mashat said. She highlighted the role of the Development Policy…
QNB Group, a large financial institution in the Middle East and Africa has now become the first bank in Qatar to join the Partnership for Carbon Accounting Financials (PCAF). This membership reflects QNB Group’s commitment to combating climate change as part of its strategic focus on sustainability. The partnership with PCAF further enables the Bank’s support of the State of Qatar’s ratification of the Paris Agreement and its Nationally Determined Contributions. PCAF membership facilitates the Bank’s measurement of greenhouse gas emissions arising from its loans and investments, ensuring greater transparency and accountability of the Bank’s environmental impact. PCAF supports this…
Saeed Mohammed Al Tayer, Managing Director (MD) and Chief Executive Officer (CEO) of Dubai Electricity and Water Authority (DEWA), announced that DEWA has commissioned 558 11 kV distribution substations across Dubai in the first half of 2024. The construction of these substations and related work resulted in a total of 420,350 man-hours, all completed according to the highest standards of health and safety.Al Tayer emphasized that DEWA continues its efforts to keep pace with Dubai’s significant development and growth, meeting the increasing demand for electricity while maintaining power supply according to the highest standards of availability, reliability, and sustainability.“We follow…
To bolster cooperation between Egypt’s electricity sector and the European Investment Bank (EIB), Minister of Electricity and Renewable Energy, Mahmoud Esmat met with EIB’s head of the Cairo regional office, Guido Clary. Discussions during the meeting centered on identifying opportunities for collaboration between the ministry and the EIB, including enhancing electrical connections with neighboring countries, establishing distribution network control centers, supporting the development of a unified grid, and advancing projects in renewable energy.At a meeting with Clary’s delegation at the ministry’s headquarters in Al Alamein City, Esmat praised the fruitful partnership between the electricity ministry and the EIB, which has already…
Australian technology company InSky Robotics is establishing its first GCC facility, VIM Solar Robotics, in Al Hamra, Ras Al Khaimah. This strategic move is designed to cater to the increasing demand for robotic solutions within the solar energy sector across the GCC region.The new facility will be dedicated to assembling, storing, and supplying VIM Solar Robotics’ advanced VOLTIMATE robotic cleaners setting the global standard in automated cleaning for solar farms. Designed to function mechanically without batteries or complex electronics, these robots are well-suited to withstand severe weather conditions. They boast a lifespan of over 20 years, aligning with that of…
Tabreed, the UAE-based international district cooling company, has released its consolidated financial results for the first six months of 2024 and announced changes to its Board of Directors. The results demonstrate exceptional financial health driven by business growth, sustained profitability margins, and a commitment to sound financial discipline. Tabreed experienced an 8% year-on-year surge in consumption volumes, reflecting rising cooling demand during the summer and continued strategic expansion over the past 12 months. As a result of strong operating performance, the company delivered a normalized net profit before tax of AED 291 million – an increase of 4% compared to…
Israel’s National Planning and Building Committee has approved new regulations requiring all new non-residential buildings and houses to install solar panels on their roofs. The National Planning and Building Committee today approved new regulations requiring all new non-residential buildings and houses to install renewable energy systems with solar panels on their roofs.As part of the regulations led by the Ministry of Energy and Infrastructure and the Planning Administration with the Ministry for Environmental Protection and the Israel Electric Authority, all new buildings that are not residential with a roof area larger than 250 square meters will be obligated to install…
Qatar Investment Authority (QIA) made an initial $180m investment in TechMet, reflecting QIA’s commitment to secure the supply of responsibly sourced critical minerals. TechMet is an investment company focused on building businesses across the critical minerals value chain, from extraction and processing to refining and recycling. This investment aligns with QIA’s ambition to invest in a broad range of areas in the industrials sectors such as critical minerals, which are required to advance the clean energy transition and to help address the growing demand in the global market for sustainable energy solutions. Through this investment, QIA is supporting TechMet’s mission…
The Asian Development Bank (ADB) has approved a $21 million grant as additional financing to expand the supply of renewable energy in Tajikistan by further modernizing the Golovnaya hydropower plant.“The electricity from the Golovnaya hydropower plant goes to national and regional grids, benefiting Tajikistan and neighboring countries,” said ADB Director General for Central and West Asia Yevgeniy Zhukov. “ADB’s support improves regional energy security, contributing to inclusive, sustainable economic growth and balanced regional development.”The additional financing will replace the power generation unit 4 at the Golovnaya hydropower plant. Unit 4, which was not part of ADB’s original project approved in…