Penspen has announced that it secured $120 million in new contracts during the second half of 2024, bringing total sales for the year to over $225 million. This marks a 14% increase compared to the same period in 2023. In the Middle East and Africa, Penspen won 26 contracts worth $98 million. These projects include study, front-end engineering design (FEED), detailed design, integrity assessment, fitness-for-service (FFS) evaluation, project management supervision, and consultancy services. In Saudi Arabia, Penspen signed two new renewable energy-focused framework agreements. These agreements cover study, FEED, detailed design, and project management supervision services for hydrogen production, wind,…
Author: Lakshita Kapoor
IRSC has signed a contract with Sumitomo Electric Wiring Systems Egypt to design, supply, and install solar photovoltaic (PV) power plants on the rooftops of Sumitomo’s industrial facilities. The project will take place in the regions of 10th of Ramadan, 6th of October, and Port Said. The first phase of the project will have a total installed capacity of 3.2 MW peak. These solar plants are expected to generate approximately 4.9 GWh of electricity annually. This will reduce electricity consumption from the national grid and cut carbon dioxide emissions by an estimated 52,700 tons per year. Construction work is planned…
The Middle East and North Africa (MENA) region is expected to attract over $1 trillion in renewable energy investments by 2030. This was stated by Mark Thomas, Group CEO of Bapco Energies, during the Sustainability Forum Middle East in Bahrain earlier this week. Mohammed Bin Daina, Bahrain’s Minister of Oil and Environment and Special Envoy for Climate Affairs, opened the event. He stressed the importance of cooperation between countries and industries to advance decarbonisation and energy sustainability in the region. The forum also includes workshops on sustainability strategies and climate-related financial disclosures. Some other renewable energy projects across MENA include the…
The European Bank for Reconstruction and Development (EBRD) is reviewing a proposal to provide $145 million in loans for two large-scale solar power projects in Uzbekistan. These projects, developed by ACWA Power, will include a total of 1,000 megawatts (MW) of solar energy capacity along with 1,000 megawatt-hours (MWh) of battery storage. If approved, the loans will support ACWA Power’s subsidiary in building the Sazagan 1 and Sazagan 2 projects in Samarkand. Each site will include 500 MW of solar photovoltaic (PV) capacity and a 500 MWh battery energy storage system (BESS). The total cost of the projects is estimated…
Oman and India held their 11th Joint Committee meeting on January 28, 2025. The meeting was led by Oman’s Minister of Commerce, Industry, and Investment Promotion and India’s Minister of Commerce and Industry. Senior officials from both countries attended. Discussions focused on trade, investment, and sectoral cooperation. Renewable energy was a major topic, with both sides emphasizing green hydrogen and green ammonia. Oman’s Vision 2040 includes plans to expand renewable energy. India has also been developing renewable projects under national programs. Bilateral trade between the two countries reached RO 2.05 billion in 2023. Indian investments in Oman totaled over $750…
South Sudan has launched its first solar power plant with battery storage. The 20-megawatt (MW) solar plant and the 14-megawatt-hour (MWh) Battery Energy Storage System (BESS) were developed by a private company. The project was financed and built by the company’s construction and development subsidiary. The plant is located in Gondokoro, near Juba. It is expected to supply electricity to up to 16,000 households. The battery storage system will help stabilize the grid by storing excess solar energy for use when needed. The plant will add renewable energy to the country’s electricity supply. South Sudan’s grid mainly relies on thermal…
Egypt is preparing to restart the tender process for a pumped storage hydropower plant at Ataka Mount. The project was previously planned under an agreement signed in 2015 for a 2,100-megawatt (MW) facility, but it did not move forward due to financing challenges. Pumped storage hydropower plants function by storing energy in the form of water at a higher elevation and releasing it to generate electricity when demand increases. This technology helps stabilize electricity grids, especially when integrating renewable sources such as solar and wind. Egypt has been expanding its renewable energy sector. The Benban Solar Park, located in Aswan,…
Italian consulting and engineering company CESI Group has signed a Memorandum of Understanding (MoU) with the Saudi Electricity Project Development Company (PDC), a subsidiary of the Saudi Electricity Company (SEC). The signing took place in AlUla, Saudi Arabia, during Italian Prime Minister Giorgia Meloni’s visit to the Kingdom. The event was part of a business roundtable hosted by Italy’s Deputy Minister of Enterprises and Made in Italy, Valentino Valentini. The MoU was signed by Pierluigi Vicini, General Manager of CESI FZE, the company’s subsidiary in Dubai, and Abdulaziz Al-Muhaiza, Executive Vice President and CFO of SEC. CESI FZE has been…
Saudi Arabia’s ACWA Power has entered into an agreement with Italy’s gas grid operator Snam to explore opportunities for joint investments and collaboration on developing a supply chain for green hydrogen between Saudi Arabia and Europe. The partnership will focus on creating a system to transport green hydrogen reliably and cost-effectively, including the potential establishment of an ammonia import terminal in Italy to facilitate hydrogen delivery through the 3,300-km SoutH2 Corridor connecting Italy, Austria, and Germany. In November 2023, ACWA Power began work on a green hydrogen project in Uzbekistan. The first phase of the project aims to produce 3,000…
Abu Dhabi Future Energy Company (Masdar), in collaboration with Emirates Water and Electricity Company (EWEC), is developing the world’s largest solar photovoltaic (PV) and battery energy storage system (BESS) project. The facility will have a total capacity of 5.2 gigawatts (GW) in direct current (DC) and 19-gigawatt hours (GWh) of battery storage. The project is divided into two sites, the north and the south, with each having 2.6 GW PV capacity and 9.5 GWh storage. It will operate 24/7, supplying one GW of baseload power continuously. Indian construction firm Larsen & Toubro (L&T) has been selected as one of the…