Jakson Green Private Limited, a new energy transition platform, has secured a credit facility of Rs 2.96 billion from First Abu Dhabi Bank (Mumbai). The company said that this financing will fuel the company’s international expansion, with Uzbekistan serving as the first beneficiary for its upcoming solar photovoltaic (PV) and battery storage project. “As Jakson Green actively expands its global reach in the Middle East, Africa, Commonwealth of Independent States (CIS) and Europe, this credit facility marks a significant milestone for its entry into Uzbekistan’s renewable energy sector. The project includes the construction and operation of a 250 MW solar…
Author: Saur News Bureau
Dubai International Chamber, a key entity under Dubai Chambers, has played a pivotal role in supporting Kilimanjaro Energy’s entry into the Chinese market. This effort culminated in the signing of a memorandum of understanding (MoU) between Kilimanjaro Energy and Skyworth Photovoltaic Technology, based in Shenzhen, China. The MoU, signed at Dubai Chambers’ headquarters with representatives from Dubai International Chamber and the government of Shenzhen’s Guangming District in attendance, outlines collaboration in photovoltaic energy and energy storage solutions. Specifically, the agreement focuses on developing projects for commercial and industrial sectors across global markets. Both Kilimanjaro Energy, a Dubai-based renewable energy firm,…
Saudi-listed ACWA Power, the world’s largest private water desalination company, leader in energy transition and first mover into green hydrogen, announced today the completion of a Sale and Purchase Agreement(s) to sell 35% of its shareholding in ACWA Power Bash Wind Project Holding Company Limited and ACWA Power Uzbekistan Wind Project Holding Company limited to China Southern Power Grid International (HK) Co. Ltd (CSGIHK), the global investment and development arm of China Southern Power Grid (CSG). Following the successful completion of the conditions precedent, a closing ceremony was held in Tashkent to mark the transaction’s completion. The ceremony was attended…
A latest report from the International Energy Agency (IEA) said that investments in the renewable energy sector is on the rise. This comes at a time when the region is already dominated by the fossil fuels like coal, gas and other sources. The report said that Middle East is home to five of the world’s top oil producers: Saudi Arabia, Iraq, the United Arab Emirates (UAE), Iran, and Kuwait. These countries play a significant role as a producer of natural gas, with three of the world’s top ten producers being Iran, Qatar, and the UAE. “For the moment, spending on…
The UAE renewable energy market is projected to exhibit a growth rate (CAGR) of 11.20% during 2024-2032, a latest report from Imarc said. It said that the implementation of various government initiatives, including Vision 2021 and Energy Strategy 2050, abundant solar resources, technological advancements in solar photovoltaic (PV) and wind energy, competitive bidding processes, supportive regulatory frameworks, and rising consumer awareness are some of the factors creating a positive outlook for the market. Government Initiatives and Policies: The UAE government has introduced vigorous programs and policies to open up new sectors of its energy mix and reduce reliance on fossil fuels.…
By Marc Thiriet, Director, Africa, Wärtsilä Energy It is no longer disputed that solar and wind power will be the foundation of Africa’s future energy systems. They are perfectly suited to the continent’s unique conditions and are already the most cost-competitive power option in almost all cases. This consensus spans academia, businesses, and policymakers who all recognize the potential of renewable energy to meet Africa’s growing needs sustainably. They also readily acknowledge the intermittent nature of renewables, and the associated need for flexible power capacity within the electricity networks to ensure safe and steady supply. It’s a good start. But…
Saeed Mohammed Al Tayer, MD & CEO of Dubai Electricity and Water Authority (DEWA), received Joakim Larsen Consul General of the Kingdom of Denmark in Dubai, at DEWA headquarters in Dubai. The meeting underscored the ongoing collaboration between DEWA and Danish companies in the fields of renewable energy, sustainability, and advanced technology. The meeting also reaffirmed the shared vision between the two parties for a sustainable future and their commitment to driving innovation in clean energy. By leveraging Denmark’s advanced technologies and DEWA’s strategic initiatives, significant progress in sustainable development goals can be achieved The meeting was attended by Waleed…
With the clock ticking towards this year’s U.N. climate summit, nations are at odds over the size and distribution of a global funding package aimed at aiding the developing world in combating climate change. The upcoming COP29 climate talks in Azerbaijan in November are poised to be dominated by discussions on a new annual financing target. Nearly 200 countries must agree on this target to assist poorer nations in reducing emissions and fortifying their societies against the intensifying impacts of climate change. Replacing the previously pledged yearly $100 billion from 2020, which was fulfilled two years behind schedule, remains a…
A latest report from the International Energy Agency (IEA) said that the growth and utilisation of renewable energy could make a dent on the oil expansion plans of countries like Saudi Arabia. The report said that several countries like Saudi Arabia and Iraq may see reduced usage of oil in the generation of power. “The displacement of oil used in electricity generation will also play a major role in shifting global demand to a plateau. In particular, Saudi Arabia has plans that would see about 1 mb/d cut from direct crude, fuel oil and gasoil use in power plants by…
A recent report from the International Energy Agency (IEA) claimed the investments in renewable energy has increased in the Middle East. However it lamented that oil and gas continue to dominate its energy mix. The report said that Middle East is home to five of the world’s top oil producers: Saudi Arabia, Iraq, the United Arab Emirates (UAE), Iran, and Kuwait. Moreover, it plays a significant role as a producer of natural gas, with three of the world’s top ten producers being Iran, Qatar, and the UAE. “For the moment, spending on fossil fuel supply predominates: for every 1 USD…