In order to cut down costs on SAF-(Synthetic Aviation Fuel ) Saudi-based Aramco, Italy’s ENI, have joined the world’s largest passenger carrier United Airlines to invest in British start-up OXCCU to commercialise its cost-effective sustainable aviation fuel. As per the statement, the $22.7 million investment led by U.S.-based investor Clean Energy Ventures has received Series A financing from the above companies. The other firms also participating in the investment include United Airlines Ventures Sustainable Flight Fund SM and Braavos Capital, alongside existing investors Kiko Ventures and the University of Oxford. Trafigura, TechEnergy Ventures and Doral Energy-Tech Ventures. OXCCU is a…
Author: Saur News Bureau
Chinese wind turbine firm, Envision Energy will be supplying 1.67 GW wind turbines to NEOM Green Hydrogen Company. Located at Oxagon, Saudi Arabia, NEOM is the world’s largest utility-scale hydrogen plant powered completely by renewable energy. As per the deal, the firm will install its 171-6.5MW wind turbines that are expected to be fully operational by 2026. “We are proud to be associated with such an ambitious project that will pave the way for other companies to follow suit in pursuing sustainable initiatives.This contract represents a significant milestone for both our companies and the industry at large,” said Zhang Lei,…
UAE’s Masdar, Infinity Power, which is Africa’s largest renewable energy developer and Hassan Allam Utilities- a sustainable infrastructure focused investment platform, have collaborated with Egypt’s New and Renewable Energy Authority to build a 10 gigawatt (GW) capacity onshore wind farm in Egypt. It will be one of the largest in the world with an estimated project value of over US$ 10 billion. The deal was signed in Cairo in the presence of Egyptian Prime Minister, Moustafa Madbouly, Dr Sultan Al Jaber, UAE Minister of Industry and Advanced Technology,Dr Mohamed Shaker El-Markabi, Minister for Electricity and Renewable Energy, Mohamed Jameel Al…
China Gezhouba Group and the Azerbaijan government have joined hands to assess utility-scale solar, wind energy, and integrated smart energy system investments. The deal has set a target of developing 2 GW of projects by 2025. The meeting was held between Parviz Shahbazov, Head of The Ministry of Energy of Azerbaijan Republic and Lin Shanqing, Deputy Administrator of China’s National Energy Administration, to discuss cooperation in the field of energy. The 2 GW of projects are expected to be developed by 2025. This pact has come as a part of the MoU signed between China Gezhouba Group and Azerbaijan’s Ministry…
The Dubai unit of PetroChina International Ltd and UK based natural resource and power developer firm, Oracle Power PLC’s subsidiary, Oracle Energy have collaborated to jointly develop Pakistan’s first green hydrogen production facility. The 400 MW project is located in Sindh, south-east Pakistan with planned hydrogen production of approximately 150,000 kg per day (55,000 tonne annually), which will be produced using electrolysers powered by photovoltaics. As per the deal, oil trader PetroChina International (Middle East) Co Ltd (PCME) will assist Oracle commercialise the project. In addition,PCME will arrange potential offtake for the green hydrogen output and carbon credits from the…
Jubail 3A independent water desalination plant, located in Jazlah has become the first-of-its-kind project in Saudi Arabia to integrate photovoltaic (PV) solar power for its water desalination processes. ACWA Power has collaborated with Gulf Investment Corporation (GIC) and ALBawani Water&Power Company (AWP) to launch the Jubail 3A independent water desalination plant, also known as Jazlah Water Desalination Company. The plant has received the commercial operation certificate from Saudi Water Partnership Co. (SWPC) and will officially commence its full-time operations. With an estimated budget of $650 million, the plant has the world efficiency record of 2.8 kWh/cubic meter of water that…
Electrolysers will be now be manufactured in the UAE. Towards this end, ADNOC Group (Abu Dhabi National Oil Company) has tied up with John Cockerill Hydrogen and Strata Manufacturing. The announcement was made by the Ministry of Industry and Advanced Technology (MoIAT) at the ‘Make it in the Emirates’ forum in Abu Dhabi. It is held that the partnership will strengthen the manufacturing capabilities of domestic hydrogen, supporting decarbonisation operations in the Emirate and beyond. It will also provide impetus to developing the UAE’s green hydrogen economy through the domestic manufacturing of electrolysers and support the UAE’s `Make it in…
Germany’s NexWafe has joined hands with Saudi Arabia-based energy firm, Aramco Ventures on a future green solar wafer manufacturing facility in the Kingdom of Saudi Arabia. The collaborative agreement will include participation from the firm’s $1.5 billion Sustainability fund. NexWafe GmbH designs, develops and pilots a proprietary process to produce ultra-thin, high-efficiency, monocrystalline green solar wafers to make photovoltaics more sustainable and efficient. Additionally, NexWafeGmhH (NexWafe) has secured €30M for boosting the construction of its first commercial-scale facility in Bitterfeld, Germany to fabricate the company’s green solar wafers. NexWafe is receiving funds from the current group of investors, including Aramco…
Morocco has entered into a deal with GOTION High-Tech, a China-based firm specialising in electric mobility, to build a dedicated facility to manufacture the production of electric car batteries and energy storage systems. With an investment of 65 billion Moroccan dirhams ($6.4 billion), the group will construct a Giga Factory in Rabat, with an annual production capacity of 100 gigawatt-hours. It is expected to generate around 25,000 job opportunities in the region. In a statement, Mohcine Jazouli, Moroccan Minister of Investment, said, “Signing the memorandum of understanding is a necessary first step before signing the investment agreement, which will allow…
Hydrogen Oman (Hydrom) has signed three agreements worth over $20 billion for massive green hydrogen projects. With this, it has granted the first green hydrogen blocks in the country. The first one has been awarded through Phase A Round 1 public auction process, and the other two are awarded following the earlier singing of commercial term sheets, as per reports. Major collaborations have been signed with the Amnah Consortium, Oman Green Energy Alliance and BP Oman. Further to this development, three major green hydrogen projects will be developed in Al Wusta Governorate. Currently, the land leased to the final three…