Saudi Arabia’s energy firm, ACWA Power and Chinese firm PowerChina have initiated works for the first green hydrogen plant in Central Asia. Dwelling further on details of the plant, the firms said, the plant in Uzbekistan will produce 3,000 metric tons per year of green hydrogen and will be powered by a wind farm. The hydrogen will be used to produce 500,000 tons per year of ammonia fertiliser, replacing 33 million cubic meters of natural gas. PowerChina, the general contractor for the project, said, “It was the company’s first overeas green hydrogen project and also the first in Central Asia to reach…
Author: Rashida
With the aim to fulfill green energy requirements for power operations of the world’s largest green hydrogen-ready steel plant in the Special Economic Zone at Duqm (SEZAD), Oman has started Integrated Energy Valley (IEV) initiative. With an investment of $3 billion, the first of-its-kind project will be fully operational in 2027. As per reports, renewable wind and solar power will provide around 16 hours of electricity daily for the Vulcan Green Steel (VGS) plant, while efforts are on to explore additional energy storage options to bridge the remaining 7 to 8 hours to ensure 24×7 energy supply. It may be…
Agthia Group PJSC, one of the region’s leading food and beverage companies, in its pursuit to reduce its carbon footprint has formed green alliance with Yellow Door Energy, a renowned solar developer headquartered in the UAE. The Group’s solar energy initiative will involve the establishment of solar power plants at the production facilities of Al Ain Water and Al Foah, two of its key subsidiaries. As per press note, the formalisation of this occurs through the execution of Letter of Award and subsequent signing of a solar lease agreement. “The initiative is expected to offset almost 20% of the energy…
In order to meet energy transition goals, ESG Sukuk (green instruments used to finance sustainable projects) in the UAE has been on a growth path and will continue to expand amid funding requirements, according to a new analysis. As per the latest Fitch Ratings, over the past few years, ESG sukuk in the country has increased, making up more than 12% of total outstanding sukuk in the third quarter of the year and accounting for the majority of issuance across all countries. “On a quarterly basis, outstanding ESG sukuk in the UAE grew by 41% to reach $6.4 billion at the end…
To pursue its plans of developing green hydrogen projects., Jordan’s Minister of Energy and Mineral Resources Saleh Kharabsheh has signed a memorandum of understanding (MoU) with Chairman of Mass Group Holding Company Ahmad Saleh to conduct feasibility studies for the development of green hydrogen projects in Jordan. Kharabsheh said,” The agreement targets an annual production of 180,000 tonnes of green ammonia and outlines the general framework of cooperation to facilitate and empower the company to undertake a preliminary feasibility study for a new green hydrogen project.” Highlighting the significance of partnerships with the private sector, he said, “The agreement is…
The construction of Vulcan Green Steel’s (VGS) plant, Oman’s first green-hydrogen ready steel project, has commenced. The plant, located in the Duqm Special Economic Zone, will be powered entirely using green and renewable energy, and will produce 5 million metric tonnes per annum (5 MTPA) of green steel. The Authority is currently in discussions with buyers in European and Asian markets. Speaking to the local media, Vulcan Group Senior Adviser Khalid al Jashmi pointed out, “The project will use natural gas in the first phase pending the availability and supply of green hydrogen to the site.” He shared that the…
Riffa Views Owners Association (RVOA), a leading owners association in the Kingdom of Bahrain, has signed a 25-year solar lease agreement with SirajPower to generate 70 GWh of clean energy. With this, Riffa Views will have access to a long-term, sustainable, and cost-effective solution to generate clean energy and reduce carbon emissions. As per the pact, SirajPower will be deploying innovative solar solutions with a capacity of 1.6 MWp at Riffa Views, delivering both substantial reductions in carbon emissions and energy expenditures. This is in line with Bahrain’s commitment to sustainability, and the development initiatives undertaken by Riffa Views to…
In order to support the Energy Transition Accelerator Financing (ETAF) platform, Emirates Development Bank (EDB), the key financial engine of UAE economic development and industrial advancement, has committed up to Dhs1.3 billion ($350 million) in renewable energy projects. ETAF is a global climate finance facility established by the International Renewable Energy Agency (IRENA) to accelerate the financing of renewable energy projects and drive funding of renewable energy projects in developing countries. This was disclosed during the signing of a Collaborative Partnership Agreement between EDB and IRENA. The signing ceremony was attended by Dr Sultan Al Jaber, Minister of Industry and Advanced…
ACWA Power, Saudi Arabia has won the first stage of the tender to build a 200 MW wind power plant and a 100 MW electricity storage system in Karaozak and Beruni districts of the Republic of Karakalpakstan. In the statement, the firm said, “This project is being implemented with the support of the European Bank for Reconstruction and Development (EBRD) within the framework of the “Program for the development and provision of advisory services for the construction of a wind power plant with a total capacity of 200 MW” (EBRD Phase 2).” The two international companies that participated in the…
Oman is moving towards its goal of being a regional hub for low-carbon bunker fuels for maritime shipping. To this end, Oman aims to capitalise on the vast amounts of green ammonia and methanol that will emerge from Oman’s push to develop a megascale green hydrogen production industry in Al Wusta and Dhofar governorates. Government-owned ASYAD is keeping a close eye on fuel trends in shipbuilding as a means of forecasting future fuel demand. Asyad Group Vice-President for Sustainability, Essam al Sheibany said that the international shipping lines are betting on green marine fuels to decarbonise their operations. He further believes…