The Suez Canal Economic Zone (SCZONE) has announced attracting $64 billion in investments dedicated to green hydrogen projects. Chairperson Waleid Gamal El-Din shared this information during a meeting with Egyptian Prime Minister Mostafa Madbouly, where discussions focused on the zone’s ongoing initiatives and development efforts. Out of 30 signed Memoranda of Understanding (MoUs), 14 are currently active. The finalized agreements aim to produce 18 million tons of green hydrogen annually. Additionally, another project valued at $7.5 billion is being developed, with plans to generate 1.3 million tons of green hydrogen per year. SCZONE spans 455 square kilometers, comprising four industrial…
Author: Lakshita Kapoor
Trinasolar has announced a partnership with AMEA Power to supply 300MWh of its Elementa 2 platform for the Abydos Battery Energy Storage Project in Aswan, Egypt. The project is part of a larger solar initiative and is the first in Egypt to incorporate a utility-scale Battery Energy Storage Solution (BESS). The Abydos Solar PV Project, developed by AMEA Power, is expanding an existing 500MW solar power plant in Kom Ombo, Aswan Governorate. The addition of a 300MWh energy storage system aims to improve grid stability and support renewable energy use in the region. The project was inaugurated at a ceremony…
Egypt is advancing its renewable energy transition by expanding clean energy projects and upgrading its electricity grid. Mahmoud Esmat, Minister of Electricity and Renewable Energy, outlined these efforts during the Ordinary General Assembly of the Egyptian Electricity Transmission Company (EETC). The meeting reviewed the EETC’s performance during the 2023/2024 fiscal year. The ministry has been modernizing the national grid to accommodate growing renewable energy capacity and reduce energy losses. The transformation includes developing a smart grid system to enhance efficiency and manage large-scale electricity generation from renewable sources. This includes integrating solar, wind, and hydro projects into the grid. EETC Chairperson…
South Africa’s energy production is largely reliant on coal-fired power plants. Even this, coming on an antiquated grid, have been extremely poor in terms of reliance, plunging large areas regularly into power blackouts. The country is also seeing a gradual shift toward renewable energy. Solar and wind projects are being added to the energy mix, with increasing private-sector participation. However, reports suggest that at the current pace, South Africa may only meet its energy demand by 2040. Many large companies are turning to private energy procurement due to uncertainty around government energy regulations. Businesses are obtaining power directly from private…
Saudi Arabia’s National Energy Services Company (Tarshid) has signed an agreement with SAL Logistics Services to conduct a study on energy efficiency. The study will evaluate SAL facilities to implement energy-saving solutions. This agreement was signed during the Saudi Green Initiative Forum and the COP16 Conference in Riyadh. The study will include on-site surveys and a technical assessment to improve energy use and reduce carbon emissions. Since its establishment in 2017, Tarshid has reported annual energy savings of 7.3 terawatt-hours (TWh) as of the third quarter of 2024. These savings are equivalent to conserving 11.7 million barrels of oil and avoiding…
Cheiron Energy announced to expand its operations in Egypt by acquiring new concession areas. The company’s CEO, Alan Linn, discussed these plans during a meeting with Egypt’s Minister of Petroleum and Mineral Resources, Tarek El Molla. During the meeting, Linn emphasized the company’s interest in increasing investments in exploration activities. Cheiron also plans to introduce a hydraulic drilling rig to support shale gas production. This drilling technology aims to reduce costs, lower energy consumption, and enhance environmental protection. Egypt has also been advancing renewable energy projects alongside its oil and gas activities. One of the country’s major solar projects is…
Oman is set to initiate the third round of tenders for green hydrogen projects in early 2025, as announced by Hydrogen Oman (Hydrom), a state-owned entity. The announcement was made during the GH2 Investor Day, an event held under the patronage of Energy Minister Salim Al Aufi, where discussions centered on opportunities in green hydrogen and its role in the global shift toward cleaner energy. The event included leaders and investors to discuss the role of green hydrogen in global energy transition efforts. Discussions focused on improving local manufacturing, infrastructure development, and bidding mechanisms. These steps aim to strengthen Oman’s…
Wood, a global engineering and consulting firm, has secured $920 million in contracts across the Middle East in 2024. These projects focus on renewable energy, decarbonization, and energy transition in Iraq, Kuwait, Oman, Qatar, Saudi Arabia, and the UAE. Among its recent work in renewable energy, Wood is collaborating with TotalEnergies in Iraq on a major integrated project. This includes front-end engineering design (FEED), detailed design, procurement support, and construction. The project also incorporates a flare gas reduction program, which has cut over 10 million tonnes of CO2 emissions annually. In Saudi Arabia, Wood is providing pre-FEED services for Saudi…
Saudi Arabia-based utility company ACWA Power recently submitted an application to the Capital Market Authority (CMA) for a capital increase. The proposed increase amounts to 7.125 billion Saudi riyals ($1.9 billion) and will be raised by offering discounted shares to existing shareholders, according to a statement from the Tadawul stock market authority on Thursday. The company stated, “ACWA Power announces the submission of an application to increase the Company’s capital by offering the rights issue to the Capital Market Authority.” ACWA Power has outlined plans to increase its annual investments over the period of 2024 to 2030. These investments are…
Algeria sent a delegation to the United States to discuss potential investment by GE Vernova in its renewable energy program earlier this week. The delegation, representing Algeria’s state-owned utility Sonelgaz, held meetings with GE Vernova executives in Atlanta with more discussions planned for later. The talks focused on GE Vernova’s involvement in Algeria’s plan to generate 15,000 megawatts (MW) of electricity from renewable sources by 2035. The plan, which was approved in 2020, is part of Algeria’s effort to reduce its reliance on oil and gas and to conserve its fossil fuel resources. Under the program, nearly 4,000 MW of…