The Asian Infrastructure Investment Bank (AIIB) has signed three new project finance loan agreements in the aggregate amount of $83.6 million as part of a $396.4 million debt financing to Masdar for the construction of three greenfield solar PV power plants in Samarkand Djizzakh and Surkhandarya regions of Uzbekistan. Masdar has said that the Asian Development Bank, the European Bank for Reconstruction and Development and the European Investment Bank are also supporting the financing. According to Masdar, this agreement marks the first renewable energy project of AIIB and second private sector engagement in Uzbekistan, in line with Green Infrastructure thematic…
Author: Saur News Bureau
In its effort to enhance cooperation with its strategic partners and exchange best practices and experiences with major global companies DEWA’s (Dubai Electricity and Water Authority) MD & CEO, Saeed Mohammed Al Tayer met a high-level delegation from Siemens Energy. The other officials present at the meeting were Waleed Bin Salman, Executive Vice President of Business Development and Excellence at DEWA, Anne-Laure de Chammard, Member of the Executive Board of Siemens Energy AG, and Dietmar Siersdorfer, Managing Director of Siemens Energy Middle East and UAE. During the meeting, Al Tayer stressed on the vision of DEWA to develop long-term proactive…
The European Bank for Reconstruction and Development (EBRD) has issued a senior secured loan of up to $100 million to Red Sea Wind Energy for the development, construction and operation of a new 500 MW onshore wind farm located in the Gulf of Suez area in Egypt. The loan consists of a portion of up to $50 million from the EBRD and a portion of up to $50 million from the Green Climate Fund (GCF) in favour of Red Sea Wind Energy. The loan is co-financed by the Japan Bank for International Cooperation and private commercial banks. EBRD said that…
French energy player TotalEnergies has announced, among other things, that it will develop a 1 GW solar power plant to supply electricity to the Basrah regional grid in Iraq. In agreement with Iraqi authorities, TotalEnergies said that it will invite the Saudi company ACWA Power to join this solar power project. The Gas Agreement While confirming all the terms of the Development & Production Contract signed in 2021, TotalEnergies and the Iraqi Government have, through exchanges in the past months, including in 4 occasions between Prime Minister Al-Sudani and Chairman & CEO Patrick Pouyanné, jointly defined the necessary conditions and…
An energy provider in Dubai, South Energy in its support towards UAE’s efforts towards sustainability, especially with year 2023 being the ‘Year of Sustainability’, has successfully installed solar panels across ten buildings at Sakani in Dubai, having 1,140 spacious rooms. This is the first leasehold staff accommodation development at Dubai South, providing 933 kWp of solar capacity . With this installation, 35% of the buildings’ consumption will be supplied by clean energy generated from the solar plant. Established in 2017, South Energy, says it is a key driver for sustainable development, supporting the Dubai Clean Energy Strategy. It caters to…
The UAE and Bahrain are looking to work closely on sustainability schemes. This was discussed recently at a meeting in Dubai between Saeed Mohammed Al Tayer, MD and CEO of Dubai Electricity and Water Authority (DEWA), and Kamal bin Ahmed Mohamed Ahmed, President of Electricity and Water Authority (EWA) from Bahrain. The meeting was attended by Nasser Lootah, Executive Vice-President of Generation (power and water) at DEWA, Hussain Lootah, Executive Vice-President of Tansmission (power); Rashid Bin Humaidan, Executive Vice-President of Distribution (power); Waleed Bin Salman, Executive Vice-President of Business Development and Excellence; Dr. Yousef Al Akraf, Executive Vice-President of Business…
Saeed Mohammed Al Tayer, MD &CEO of Dubai Electricity & Water Authority (DEWA) discussed strengthening cooperation and deepening bilateral exchanges in the energy and infrastructure sectors with Liu Zhengjie, Vice Consul-General. The meeting was held at the Consulate General of the People’s Republic of China in Dubai, as part of the diplomatic and consular visits made to Dewa. Al Tayer was hopeful about the strategic partnership between DEWA and the Chinese companies in the energy energy generation, transmission, and distribution and water sectors amongst other sectors. He said that DEWA’s state-of-the-art infrastructure helps achieve the objectives for citizens and residents…
The UAE will grow its renewable energy portfolio four times from the existing 25,000 megawatts to over 100 gigawatts by 2030. UAE aims to achieve this with the help of Masdar. This was dislcosed by Dr Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology and COP28 President-Designate while speaking at the Berlin Energy Transition Dialogue Conference 2023 (BETD). He also invited other international firms to work with the UAE to deliver commercial renewable energy projects across the world. He informed that UAE has built three of the largest and lowest-cost, single-site solar plants in the world. The…
In an attempt to decarbonise the oil and gas companies and the industrial clusters in the country, Oman’s OQ Group is now all set to give these sectors their hand-holding support by supplying clean energy. The wholly state-owned OQ Group (part of Oman Investment Authority (OIA) is working closely with the Ministry of Energy and Minerals to create a pathway for decarbonisation. The Group, in its newly published Annual Report 2022, said, “OQ has been working closely with the Ministry of Energy and Minerals (MoEM) to charter a clear pathway for decarbonisation and carbon neutrality in the country, with MoEM…
NOVONIX Limited, a leading battery materials and technology company, has agreed to establish an incorporated joint venture with TAQAT to develop and produce anode materials for electric vehicle and energy storage system batteries in the Middle East and North Africa (MENA) region. The joint venture is intended to utilize the leading battery technology and capability of NOVONIX to develop a graphite anode materials facility with capacity of 30,000 tonnes per annum. NOVONIX said that the project is to be located in Saudi Arabia and is expected to secure ready access to precursor material as feedstock for critical battery materials and…