In a move towards sustainable development for the Middle East’s energy sector, renewable sources such as wind and solar are projected to overtake coal-fired power generation by the year 2025. This shift marks a significant milestone in the region’s efforts to diversify its energy mix and reduce dependency on fossil fuels. Recent analysis by the International Energy Agency (IEA) indicates that while global gas-fired electricity generation is expected to grow modestly, driven by shifts from oil to gas-based power generation in the Middle East and rising LNG imports in Asia, the focus in the Middle East is increasingly turning towards…
Author: Lakshita Kapoor
Saudi Arabia is stepping up its global mining efforts with upcoming visits to Brazil and Chile by Minister of Industry and Mineral Resources Bandar Alkhorayaf. According to a statement from the Saudi government, the visits aim to strengthen partnerships and explore opportunities in key sectors like mining and lithium production. In Brazil, Minister Alkhorayaf’s agenda includes discussions on mining, food processing, and aviation. He is set to meet with prominent entities such as Minerva Foods, JBS, BRF SA, as well as the Brazilian Mining Association (IBRAM) and mining giant Vale. These talks underscore Saudi Arabia’s interest in diversifying its economic…
Maale Gilboa, located on a remote hilltop in northern Israel, has become a leader in Israel’s efforts to enhance its electricity grid’s resilience through renewable energy and advanced energy storage solutions. Dovi Miller, a founding member of the kibbutz in the 1960s and now overseeing its energy operations, described their mission to create Israel’s first “energy island” — a micro-grid capable of operating independently from the national power network. This setup allows them to sustain electricity supply even if the main grid fails during emergencies. The kibbutz’s adoption of renewable energy technologies such as wind turbines, solar panels, and a…
Saudi Arabia’s Ministry of Energy, in collaboration with the Public Investment Fund, participated on Tuesday in the signing of three new agreements to boost the localization of renewable energy industries in the Kingdom.The agreements are the result of the ongoing cooperation between the Ministry and PIF to localize renewable energy components and achieve the goals of Saudi Vision 2030.The agreements cover the fields of wind turbines, solar cells and panels, and solar wafers and ingots.An agreement was signed with Envision Energy and Vision Industries Company to localize the production of wind turbines and their components in the Kingdom, aiming to…
Saudi Arabia’s oil giant Aramco has announced the acquisition of a 50% stake in the blue hydrogen industrial gases business of Air Products Qudra (APQ), a joint venture between Air Products of the U.S. and Qudra Energy, a Saudi startup. The agreement, finalized on Tuesday, marks another significant step in Saudi Arabia’s ambitious plans to establish itself as a leading producer of hydrogen. Financial terms of the deal, which involves the Blue Hydrogen Industrial Gases Company (BHIG), have not been disclosed by Aramco. However, the transaction includes provisions for Aramco to procure hydrogen and nitrogen from the venture. Saudi Arabia…
RWE and Masdar have achieved a progress in the development of the Dogger Bank South (DBS) Offshore Wind Farms, located over 100 kilometers off the northeast coast of England. The UK Planning Inspectorate has accepted their Development Consent Order (DCO) application, marking the beginning of the examination phase. The DBS East and DBS West projects aim to provide electricity for up to three million typical UK homes. This acceptance moves the projects into the pre-examination phase, where they will undergo public scrutiny later in 2024. Combined, the two projects will feature up to 200 turbines with a total capacity estimated…
In a stride towards bolstering Saudi Arabia’s energy infrastructure, Aljomaih Energy & Water Company, in collaboration with Ajlan & Bros Group, Buhur for Investment Company, and the EDF Group, has announced the successful financial closure of the Taiba-2 and Qassim-2 combined cycle gas turbine (CCGT) power projects. These projects, boasting a total capacity of 3.96 gigawatts (GW), represent a crucial advancement in the Kingdom’s energy sector. The financing, totaling approximately $3.9 billion (equivalent to SAR 14.6 billion), has been secured through Equity Bridge Financing and Senior Debt facilitated by a consortium of leading financial institutions including Riyad Bank, Saudi Awwal…
Masdar Capital, the private equity arm of Abu Dhabi’s leading renewable energy company Masdar, has announced a strategic partnership with the Development Bank of Japan (DBJ) to establish a new renewable energy project platform. The Memorandum of Understanding (MoU) was formalized during the World Future Energy Summit in Abu Dhabi. This partnership, based on equal share investments, focuses on commissioned solar and wind projects across OECD nations, with particular emphasis on North America and Europe. Dr. Sultan Ahmed Al Jaber, CEO of Masdar, emphasized the significance of this collaboration, highlighting its role in diversifying energy sources through sustainable practices. “Masdar…
The latest Renewable Energy Statistics 2024 report by the International Renewable Energy Agency (IRENA) has sparked significant concerns in the Middle East, particularly in the United Arab Emirates (UAE), regarding the region’s progress towards sustainable energy goals. Released today, the report highlights a global surge in renewable energy capacity, with a remarkable 14% increase in 2023 alone. This growth continues a trend of 10% annual expansion since 2017, positioning renewable energy as a key contender to surpass fossil fuels in global power capacity. However, despite these gains, the Middle East remains challenged in meeting its renewable energy targets. According to…
RWE and Masdar achieved a key milestone for the DBS (Dogger Bank South) Offshore Wind Farms as the Development Consent Order (DCO) application has been accepted into the UK Planning Inspectorate examination phase.The DBS East and DBS West offshore wind farms, which could provide electricity for up to three million typical UK homes*, are located in shallow waters on the Dogger Bank over 100km off the northeast coast of England. The acceptance of the DCO application moves the projects into the pre-examination phase, which will become subject to a public examination later in 2024.Together, the projects will have up to…