Sarawak Energy has signed a Memorandum of Understanding (MoU) with Abu Dhabi Future Energy Company, Masdar, recently. The MoU was signed at the 28th Conference of Parties (COP28) at the United Nations Framework Convention on Climate Change (UNFCC) in Dubai. The pact is expected to accelerate the progress of renewable energy projects across Sarawak and Malaysia. “The focus of the agreement encompasses key areas of collaboration, emphasising the development of innovative renewable energy projects utilising cutting-edge technologies, such as Solar Photovoltaic (PV) technology and Battery Energy Storage Systems (BESS),” said the firm in a statement. “A significant target outlined in…
Author: Rashida
The United Arab Emirates, through the Central Bank of the United Arab Emirates (CBUAE), will be allocating about US$272.3b (AED 1t) for sustainable finance by 2030. This was unveiled during COP28. The funding will help speed up climate finance solutions and support a sustainable future. It may be noted that COP 28 includes more than 20 markets that vowed to triple global nuclear energy generation by 2050. The UAE’s banking sector covered by the UAE Banks Federation, also organised their respective sustainable finance targets and set foundations for plans of sustainable transformation and climate action. Also, the strategy by CBUAE encourages…
Green energy giants Iberdrola and Masdar have inked a €15 billion strategic partnership agreement to evaluate the joint development of offshore wind and green hydrogen projects in major markets that includes Germany, UK and the USA. It may be noted that the firms have jointly invested in Baltic Eagle, in Germany. Next target of the alliance is to achieve a further co-investment in relation to the 1,400-megawatt (MW) UK East Anglia 3 offshore wind project. It is reported that the deal has been under negotiation for the last few months and could be signed by the end of Q1 2024.…
The Ministry of Investment, Industry and Trade, the Ministry of Energy of the Republic of Uzbekistan and the Ministry of Investment of the UAE have signed an agreement for developing investment cooperation in priority sectors of the economy, including the production, transmission and distribution of renewable energy. The ceremony was attended by the Uzbekistan’s Minister of Investment, Industry and Trade Laziz Kudratov and the Minister of Energy Jurabek Mirzamakhmudov, and UAE Minister of Investment Muhammad al-Suwaidi. As per the agreement, the fir would aim at the identification, exchange and assessment of projects and investment opportunities in the production of wind,…
Saudi Arabia will operate its first train powered by hydrogen in the region. This was disclosed by Minister of Transport and Logistics Saleh Al-Jasser during the COP28 conference in Dubai. “The cost of transportation using alternative energy is declining rapidly,” he said. The Minister pointed out several challenges that affect the process of removing carbon emissions that includes the increase in population, which requires the increased use of transportation. He further added that developing this sector may sometimes come at the expense of the environment. “Transportation sector is one of the biggest causes of climate change and the increase in carbon emissions…
Despite having rich oil reserves, Saudi Arabia plans to generate 9.5 gigawatts of electricity from renewable energy by 2030. Besides leveraging its renewable energy potential, the nation has set a goal to become a global leader in electric vehicle sector. To pursuit this goal, Saudi Arabia has been making significant strides towards becoming a global leader in electric vehicles (EVs). Here are some reasons why it has the potential to achieve this- Availability of Critical Minerals: Saudi Arabia has proximity to regions rich in critical minerals required for EV batteries, such as lithium, cobalt, manganese, nickel, and graphite. To name…
Abu Dhabi Future Energy firm has become a part of an £11billion investment into the UK’s renewable energy sector and is purchasing a 49 percent stake in RWE’s 3 gigawatt (GW) Dogger Bank South (DBS) projects. The project form one of the world’s largest planned offshore wind farms. As per reports, DBS is capable of powering millions of British homes, reducing emissions and creating up to 3,000 jobs. It is reported that the closing of the transaction is subject to customary approvals and expected in the first quarter of 2024. The agreement was signed during the UN’s climate change conference…
Abu Dhabi’s energy firm Masdar and UK based EDF Energy has inked a landmark agreement with government of the Kyrgyz Republic to explore development of hydro and renewable energy projects with a combined capacity of up to 3.6 gigawatts (GW). The agreement was signed during COP28 in Dubai by Kyrgyz Minister of Energy, H.E. Taalaibek Ibraev, Masdar Director, Development and Investment (EMEA), Ahmed Al Awadi and EDF Assets Development Director for Europe and Central Asia, Emmanuelle Chevennement. The signing ceremony was witnessed by the President of the Kyrgyz Republic, H.E. Sadyr Japarov, UAE Under-Secretary for Energy and Petroleum Affairs at…
COP 28, the 28th United Nations Climate Change Conference, is currently underway in the United Arab Emirates. The event is being attended by 198 countries who have signed the UN Framework Convention on Climate Change. As the primary objective of the COP28 is to address collective gaps in global climate action and manage the impacts of a warming planet, 118 countries have expressed their support to triple renewable energy capacity by 2030. As per reports, a joint proposal was made by the U.S, Europe, and the UAE to triple renewable energy capacity to at least 11,000 gigawatts by 2030. If fulfilled,…
The Sultanate of Oman and the Swiss Confederation signed several memorandums of understanding (MoUs) to enhance areas of cooperation between the two friendly countries in various sectors. This significant agreement promotes bilateral cooperation in sustainable and renewable energy and technology. The MoU covers a spectrum of objectives, that includes joint initiatives in sustainable energy and technology, especially in green hydrogen projects, covering production, processing, storage, and consumption. The pacts were signed under the patronage of Dr. Alain Berset, President of the Swiss Confederation, during his official visit to the Sultanate of Oman. Dwelling on the pact that was signed for…