In a bid to promote green energy in Arab cities, towns and villages throughout the country, Israel plans aims to promote the transition to sustainable energy in the Arab local authorities, thereby reducing gaps in infrastructure quality, lowering energy expenses, and increasing municipal revenues from energy production. This was revealed in a statement recently. The plan, estimated to cost 30 million shekels ($8.31 million), will finance energy efficiency and renewable energy production projects, that will include the replacement of old, inefficient lighting and air conditioning systems, the implementation of solar projects in public buildings, amongst other projects. Besides the green…
Author: Saur News Bureau
Energy firm JERA and the Public Investment Fund (PIF) have joined hands to give a push to green hydrogen projects and derivatives like ammonia. These will mainly be exported from Saudi Arabia. The MOU has been signed between Yuichiro Kato, Executive Officer, Head of the LCF Value Chain Division at JERA, and Yazeed Alhumied, Deputy Governor and Head of MENA Investments at PIF. In 2022, JERA, JERA set up JERA Middle East and Africa Management Co. Ltd. in Dubai, UAE, for combined cycle power plants, renewable energy projects, and green fuel production. Meanwhile, PIF has been a key player contributing…
Researchers at the Bar-Ilan University near Tel Aviv have produced a solar panel consisting of 676 different materials that convert the sun’s energy into electricity. It is part of the new class of solar panels developed from AI-based materials science, which means that artificial intelligence (AI) designs the materials in the panels. The AI design not only makes the solar production process more efficient but also cheaper. The researchers are working to replace the silicon component of solar cells with their new materials to make solar panels more sustainable. Dr Hannah-Noa Barad of Bar-Ilan University, who conducted the research along…
The UAE is moving steadily towards achieving its interim targets in the e-mobility space by increasing the share of electric and hybrid vehicles in its domestic fleet from 4.0 per cent in 2023 to 13 per cent in 2030. As per BMI – a Fitch Solutions Company, said in a research report, “EVs (electric vehicles) and hybrid buses, the target is to grow the share from 3.2 per cent to 14 per cent over the same period. “This is consistent with our own bullish outlook on the market, which sees a wealthy consumer base, the development of local and regional…
Diversified renewable energy company ACME Group announced securing INR 4,000 crore loan from one of the India’s largest green infrastructure financial institutions Rural Electrification (REC) Limited for its green hydrogen and green ammonia project in Oman. The loan will be utilized to commence the first phase of the pioneering green hydrogen and green ammonia project, to be established at the Special Economic Zone (SEZ) in Duqm, Oman. The first phase of the facility is expected to produce 100,000 tonnes of green ammonia annually and will be expanded to 1.2 million tonnes per annum with about 3.5 GW of electrolyzer capacity,…
IDO Investments, the technology investment firm and the venture capital arm of Oman Investment Authority (OIA), has become one of the investors amongst a number of international companies to have invested in Energy Dome. Energy Dome is an Italian tech start-up behind the innovative CO2 Battery that stores energy for longer duration, ensuring a continuous supply of solar and wind power. In a press note by Energy Dome recently, It revealed that the firm has also signed a MoU (Memorandum of Understanding) with Oman Investment Authority to explore potential area of collaboration in the country. In this second tranche of…
Saudi government’s persistent efforts in renewable energy with the new tariff, as well as the expansion of renewable capacity is expected to lead towards daily oil consumption in 2030 down to 1.5 to 2 million barrels, compared to today’s 11 million, as per a report by Global Ventures named ‘Modern Energy in Africa and Middle East’. Green Hydrogen in MEA The report states that in GCC states, RE generation will be paired with growth in green hydrogen production. “GCC states have unique advantages and incentives that will allow them to become leaders in the emerging hydrogen economy. Early and focused…
The United Arab Emirates has shown interest in making investments in the RE sector of Bangladesh. This was revealed by the visiting UAE Minister of Industry and Advanced Technology Dr Sultan Ahmed Al Jaber, recently. This Minister discussed the plans during his meeting with Prime Minister Sheikh Hasina at her official residence Ganabhaban. “They are very interested in the energy sector, especially renewable energy alongside conventional energy,” PM’s Press Secretary Ihsanul Karim said while addressing the media after the meeting. Dr Ahmed, who is also the Chairman of ‘Masdar’ (an energy company) and Managing Director of Abu Dhabi National Oil…
Israel’s Energy Ministry has plans to invest 6.96 million US dollars in innovative research and development (R&D) projects in the energy and water sector. The investment will focus on projects dealing in the fields of renewable energy production, electricity transmission, smart electricity, energy storage, alternative fuels for transportation, energy efficiency, cybersecurity, health, waste-to-energy, and more. As per the tender, the ministry will finance up to 50 percent of the selected projects’ budgets, with a maximum of 3 million shekels per project. In addition, it will also provide advisory support. The selection of the projects will be made according to technological…
Abu Dhabi Future Energy Company PJSC – Masdar announced the successful completion of its first green bond issuance for US$750 million 10-year senior unsecured Notes today. Showing positive appetite from regional and international investors, the order book peaked at US$ 4.2 billion, i.e. oversubscription of 5.6x. Pricing tightened 35 bps between launch and final terms, with a final landing spread of 115 bps over the US Treasuries and a coupon of 4.875 per cent. Allocation was finalized with a split of 87.5 per cent to international investors and 12.5 per cent to MENA investors. The investor confidence in the financial…