Pele Green Energy announced the financial close of the Sonvanger Solar PV Power Plant in the Free State province of South Africa. This project, developed in partnership with Glencore’s ferroalloys division and Merafe Resources, is a 100-megawatt (MW) solar facility. The cost to set up the plant is about R2.1 billion (USD 116 Million). Pele Green Energy stated that this plant will contribute to renewable energy generation in the country. According to Pele Green Energy, “the project will be funded through a combination of debt and equity. Debt financing is being provided by South Africa’s Nedbank Group and Absa Group.”…
Author: Lakshita Kapoor
Turkey announced plans to invest $100 billion in renewable energy by 2035. Energy Minister Alparslan Bayraktar outlined this during the Turkish-German Energy Forum. The plan aims to transition the country to a carbon-neutral economy by 2053. As part of the plan, Turkey will increase its wind and solar energy capacity from the current 31,000 megawatts (MW) to 120,000 MW by 2035. The government also aims to triple its electricity interconnection capacity with Europe. By 2035, it is expected that 77% of Turkey’s electricity will be generated from domestic and renewable sources. Several recent renewable energy projects are part of this…
Chinese electric vehicle (EV) company BYD has launched a new sodium-ion battery energy storage system (BESS) product, called the MC Cube-SIB ESS. The product uses BYD’s proprietary Long Blade Battery cell and has an energy storage capacity of 2.3MWh. According to BYD Energy Storage’s UK and Ireland head Kai Wang, “the MC Cube-SIB ESS is the world’s first high-performance sodium-ion BESS product. It has a nominal voltage of 1200V, and a voltage range from 800V-1400V.” The product’s energy density is lower than that of lithium-ion batteries, but it has a number of advantages, including a higher charge/discharge rate, a broader…
The Saudi Power Procurement Company (SPPC) has named 11 developers eligible to participate in the sixth round of renewable energy projects. These projects are part of the National Renewable Energy Program (NREP), led by the Ministry of Energy. This round includes a total capacity of 4,500 MW, divided between wind and solar projects. Among these is the Dawadmi Wind Independent Power Producer (IPP) project, which will produce 1,500 MW and be built in Saudi Arabia’s Central Province. Four additional solar projects, with a combined capacity of 3,000 MW, are also included in this phase. The prequalified developers for these projects…
Egypt’s push for renewable energy has been ongoing for several years, with a focus on reducing the country’s reliance on fossil fuels. As part of this effort, Onasolar, an Egyptian solar energy company, has been working on several solar energy projects. The company’s current projects, totaling 144 megawatts, are expected to be completed by the end of the first half of 2025 boosting middle east target of net zero emissions. One of the projects is a 4-megawatt solar installation at Cairo Airport, which will be implemented across seven buildings, including lounges, garages, and warehouses. The project is expected to be…
Jinko Power Technology Co., Ltd has reached financial close for the 400-megawatt (MW) Tabarjal Solar Photovoltaic Project. This means that construction on the project can now begin. The company has secured long-term, non-recourse project financing from Riyadh Bank and APICORP. The Tabarjal project will be located in the AlJouf Province, approximately 17 kilometres northeast of Tabarjal, Saudi Arabia. The project is part of the fourth round of competitive tenders launched by the Saudi Power Procurement Company (SPPC). A power purchase agreement for a term of 25 years was signed with SPPC in November 2023. The Tabarjal project will add to…
GlassPoint, a company that specializes in decarbonizing industrial process heat, has announced plans to build the world’s largest industrial solar thermal project in Saudi Arabia. The project, called Maaden I, will be built in partnership with Saudi mining company Maaden and Spanish utility company Cox. The project is part of a $1.5 billion investment that will combine direct solar to heat technology with advanced thermal storage to reduce carbon emissions in Maaden’s aluminum supply chain. The first stage of the project is the GlassPoint Ma’aden Technology Showcase (GMTS), which will feature advanced technology developments from GlassPoint. The GMTS will enable…
L’Oréal, a leading beauty company, has achieved 100% renewable energy across its operated sites in the South Asia Pacific, Middle East & North Africa (SAPMENA) Zone as of end-2023. This includes all factories, distribution centers, administrative offices, and a research & innovation center within the Zone. The company’s SAPMENA Zone covers a vast geography spanning from New Zealand to Morocco and is a major growth engine for L’Oréal. The region is one of the most affected by climate change, making it critical for the company to embed sustainable practices into its operations as it grows. To achieve 100% renewable energy,…
The Kingdom of Saudi Arabia, Middle East has revealed its 2025 budget plan, which includes a hefty allocation for the energy sector. The plan sets aside 87 billion Saudi riyals ($23 billion) for the Economic Resources Sector, encompassing energy, mining, and industry. Saudi Arabia aims to replace its 2024 crude oil and gas production with new resources. To achieve this, the country plans to add 7.5 trillion standard cubic feet of crude gas reserves. The Jafurah gas plant is slated to commence production in 2025, with the Jafurah field expected to yield 2 billion cubic feet of gas per day…
The Ministry of Housing and Urban Planning (MoHUP) in Oman has signed a contract with Hasa Energy, a provider of energy efficiency services and decarbonisation solutions. The contract is for energy services performance company (ESCO) work. Riyab Salim Moosa al Mayahi, General Director of Social Housing and Projects at MoHUP, and Eng Muatasam al Aulaqi, Chairman of Hasa Energy, signed the agreement. The signing took place at the Green Build Oman 2024 Conference. Oman has been working to increase its use of renewable energy. The country aims to generate 30% of its electricity from renewable sources by 2030. Recent projects…