To strengthen its strategic partnership with ACWA Power and to promote the development of renewable energy projects amongst other infrastructural projects, in line with the directives of the China’s Belt and Road initiative, China Construction Bank (DIFC Branch), a Chinese state-owned lender has signed three-year revolving credit facility (RCF) agreement with Saudi’s ACWA Power. With this, ACWA Power will have cess to a USD$100 million credit facility. This is in line with company’s strategic plans to scale its power and water generation portfolio in the Middle East and the Belt & Road countries and contribute to the social and economic…
Author: Saur News Bureau
Oman’s bp Oman, in partnership with Nafath Renewable Energy’s programme, ‘Mustadeem 4’ and in collaboration with the Ministry of Agriculture, Fisheries and Water Resources, has successfully supported many Omani farms by providing RE sources. ‘Mustadeem 4’ is a social investment programme launched by Oman’s Nafath Renewable Energy, last year in partnership with bp Oman, an energy firm. The programme has a target to provide 54 independent 10 kilowatt solar energy systems for water pumps, greenhouses and farms in the Wilayat of Al Suwaiq and Al Khaburah. These areas were previously hit by Cyclone Shaheen. The programme has completed the construction…
Aluminium Bahrain (Alba), the world’s largest aluminium smelter ex-China, is moving ahead with its plans towards carbon neutrality. To this end, it has commissioned three solar charging stations that will cater to Electric Vehicles (EVs) and Solar-electric powered industrial Personnel Carriers (PCs) being driven within the smelter’s premises. It may be noted that the firm launched an ESG Roadmap in April last year. “These stations would contribute to an estimated combined savings of around 110,000 KWhr per year, corresponding to a reduction of 42 tonnes of CO2 emissions,” the firm said in a statement. It further informed, “Each station is…
The electric air taxi boasts a maximum airspeed of 110 kilometres per hour The 18-rotor aircraft has room for a pilot and a passenger This is the first time an eVTOL aircraft received special flight authorization and performed test flights in the Kingdom NEOM, a region in northwest Saudi Arabia, and Volocopter, the German air mobility company, have announced the successful completion of a series of air taxi test flights. This marks the first time an eVTOL (electric vertical takeoff and landing) aircraft has received special flight authorization and performed test flights in the Kingdom of Saudi Arabia. The flight…
To boost the collaboration and gain insights into the leading global practices and experiences in various areas including renewable and clean energy, Dubai Electricity and Water Authority (DEWA), held a meeting with a delegation from the Hong Kong Ambassadors Club. Saeed Mohammed Al Tayer, MD and CEO of DEWA met Jeffrey Lam, Co-Founder and Director of the Hong Kong Ambassadors Club, as well as a distinguished Member of the Legislative Council and Executive Council of the Hong Kong SAR Government. They discussed about the leading global practices and experiences in various areas, including smart city technologies, the Internet of Things…
Oman can be a competitive low-emission hydrogen supplier by 2030, says the latest IEA report. IEA Executive Director Fatih Birol presented the new report titled ‘Renewable Hydrogen from Oman: A Producer Economy in Transition’, to Oman’s Minister of Energy and Minerals Salim Al Aufi during a round-table meeting with senior IEA leaders and analysts at the Agency’s headquarters in Paris. The first IEA report of its kind that analyses renewable hydrogen potential in a fossil fuel producer country said that high-quality renewable energy resources and vast tracts of available land in Oman,favours the country in producing large quantities of low-emissions…
Morocco’s OCP, a producer of phosphates and phosphate based products, has plans to invest $7 billion in a green ammonia plant in Tarfaya, Southern Morocco using green hydrogen, produced from renewable fuel. State-owned OCP is the world’s biggest phosphates and fertiliser company that aims to increase output and meet low carbon goals. It is also one of the biggest importers of ammonia and spent $2 billion on the raw material last year. Due to the Ukraine-Russia war, OCP’s move towards renewables is speeding up and as a part of a Moroccan industrial strategy, it is taking steps to reduce energy…
Oman has granted a piece of land to France-based energy firm Engie for the construction of $7 billion green ammonia plant in the Sultanate. With this, a first step is taken towards constructing the plant to export 1.2 million tons of green fuel to South Korea by the mid-2030s. The land is allotted following a tender process by Hydrom, Oman’s hydrogen development entity. The project is managed by a consortium that includes steelmaker Posco, Samsung Engineering, several South Korean power companies, and a subsidiary of Thailand’s national oil company PTTEP. The project comprises 5 gigawatts (GW) of new wind and…
Alfattan-LtechUVC Green Energy SPC will set up a 200-megawatt (MW) green hydrogen and ammonia plant in Abu Dhabi. A collaboration between UAE-based Al Fattan Energy and South Korean renewable energy developer LTechUVC formed the SPC (Special Purpose Company). The SPC will oversee the project’s development with an estimated cost of approximately $400 million. The project is situated in the Kezad (provisional) area, the largest industrial complex in Abu Dhabi. The SPC was officially inaugurated on March 17, 2023. The project is expected to represent a new phase in developing green hydrogen and ammonia technology. The project is also anticipated to…
To increase energy efficiency and boost renewable energy usage, the Kuwait Oil Tanker Company (KOTC) will be building two solar power plants in the country. The $6.35 million solar energy contract has been awarded to Kuwait’s Life Energy Co. The move aligns with Kuwait’s national energy transformation strategy, which aims to achieve net-zero carbon dioxide emissions by 2050. In a statement, KOTC’s Acting Chief Executive, Sheikh Khaled Al-Sabah, highlighted the eco-friendly nature of the project. The statement further informed that the scope of work included design, construction, operation, and maintenance of the electric power generation of the station using renewable…