Abu Dhabi Future Energy Company PJSC – Masdar, in partnership with Infinity Power and Hassan Allam Utilities, has inked an agreement with the Egyptian Government. This collaboration paves the way for the development of a mammoth onshore wind farm in Egypt, poised to become one of the world’s largest. With a project value exceeding US$10 billion, it marks a significant stride towards sustainable energy solutions. The agreement grants the consortium access to a vast 3025 km2 area of land in West Suhag, facilitating essential development studies. These studies encompass resource measurement, geotechnical surveys, and environmental assessments, prioritizing minimal ecological impact.…
Author: Lakshita Kapoor
In a move towards a sustainable future, Mubadala Capital, the investment wing of Abu Dhabi’s sovereign wealth fund, has unveiled plans to inject $13.5 billion into a significant biofuels project in Brazil over the next decade. This landmark investment is part of a broader strategy by the asset management firm to bolster sustainable development in the Latin American nation. During an interview with the Financial Times, Oscar Fahlgren, head of Brazil strategy at the sovereign wealth fund, disclosed the comprehensive budget for the ambitious endeavor. The flagship initiative aims to produce renewable diesel and sustainable aviation kerosene predominantly sourced from…
At the recent Green Hydrogen Summit, the UAE reiterated its dedication to forging a green hydrogen economy primed for the future. This commitment, integral to the country’s Energy Strategy 2050 aimed at achieving climate neutrality by 2050, underscores the pivotal role of green hydrogen in curbing emissions, particularly in challenging sectors. Key to the discussions was Abu Dhabi’s Low-Carbon Hydrogen Policy, backed by major entities including Masdar, Mubadala, and ADNOC. This initiative positions the UAE as a frontrunner in global green hydrogen development, fostering collaboration between government bodies and the private sector to drive innovation and sustainability. Mohammad Abdelqader El-Ramahi,…
Dubai Electricity and Water Authority (Dewa) has announced robust financial results for the first quarter of 2024, reporting a revenue of Dh5.8 billion, marking a significant increase of 6.7 per cent from the same period last year. Despite a slight dip in net profit to Dh651 million compared to Dh763 million in Q1 2023, Dewa demonstrated resilient performance with an 11.6 per cent surge in operating profits, reaching Dh995 million during January-March 2024. The surge in demand, with electricity growing by 6.4 per cent and water by 5.9 per cent, has been attributed to the impressive operating results, reflecting a…
The first wind turbine at the Baltic Eagle offshore wind farm, a collaboration between Iberdrola and UAE-based renewable energy developer Masdar, has been successfully installed, marking a significant milestone in the project’s progress. The wind farm, located off the German Baltic coast, will comprise a total of fifty turbines and is set to become operational by the end of 2024. The installation of the first turbine signifies the beginning of the final phase of construction for the offshore wind farm, which is expected to supply renewable energy to approximately 475,000 households upon completion. The project aims to contribute to Germany’s…
In a world marked by increasing diversity, recent discussions between the UAE and India stand out as a beacon of hope, demonstrating the power of forging stronger ties amidst the turmoil in West Asia. The UAE Minister of State for International Cooperation, Reem bint Ebrahim Al Hashimy, led a high-level delegation to India with the aim of bolstering the relationship between the two countries. Their meeting with India’s Foreign Minister, S Jaishankar, focused on enhancing their strategic partnership and addressing regional and global challenges together. As they delved into talks about their comprehensive strategic partnership, it became clear that the…
Sunview Group Bhd’s subsidiary, Fabulous Sunview Sdn Bhd, has teamed up with Vision Ambassadors Company for International Trade Consultancy, LLC, in a preliminary joint venture agreement. This collaboration aims to establish Sunview (Middle East) LLC, a special purpose vehicle (SPV), with a focus on exploring opportunities in renewable energy (RE) across the Middle East, Gulf Cooperation Council, and Central Asia. Under the agreement, Fabulous Sunview will own a 40% stake in the SPV, while Vision Ambassadors will hold the remaining 60%. The initial paid-up capital for the SPV is set at SAR 100,000.00 (equivalent to approximately RM127,533.00), with each party…