ACWA Power, a leading Saudi developer, investor, and operator of power generation, water desalination, and green hydrogen plants worldwide, has announced that four separate agreements have been finalized for the development of new renewable energy in the Republic of Azerbaijan. With this, Azerbaijan now has wind power projects at a total capacity of 2.5 GW and the creation of battery energy storage systems for the first time in the country. In line with ACWA Power’s commitment to lead and enable energy transition underpinned by its robust public-private partnership model, the company has signed key implementation agreements with the Ministry of…
Author: Saur News Bureau
UAE flagship RE developer Masdar has opened its new office in Baku, the capital city of Azerbaijan to provide speed and strength to renewable energy development in the Central Asian country. The inauguration event for the office, located in Port Baku Tower, was attended by many high dignitaries, Masdar officials and other industry guests. Masdar said that it will work closely with the government and other stakeholders in Azerbaijan to accelerate the growth of its renewable energy sector, as the country movers towards a low-carbon future. Dr Sultan Ahmed Al Jaber, Chairman, Masdar, said, “The UAE and Azerbaijan both recognize…
Together with France and the United Arab Emirates, India will collaborate on and look at opportunities worth exploring in the Indian Ocean region. In a telephonic exchange held recently, the Foreign Ministers of the said countries expressed an interest in uniting forces in the areas of solar energy, climate change and biodiversity. UAE’s Finance Minister Sheikh Abdullah bin Zayed Al Nahyan, India’s Minister for External Affairs Subrahmanyam Jaishankar, and French Minister for Europe and Foreign Affairs Catherine Colonna. A statement by the Government said that during the call, the involved parties mutually agreed that the trilateral will prove to be…
The European Bank for Reconstruction and Development (EBRD) has announced that it invested almost $900 million (€839 million) in 26 projects in Uzbekistan, making it the leading recipient of its funding in Central Asia for the third year running. EBRD held that most of the investments were made in sectors like renewable energy and banking. The previous record for the bank’s annual investment in the country was $690 million set in 2021. Aligning For Green Transition EBRD said that it continues to work on the improvement of the investment climate in Uzbekistan by facilitating the first plenary session of the…
The UAE is planning to completely operationalise one of its solar power projects before the next Conference of Parties under UNFCCC (COP-28) kicks in this year. The Al Dhafra solar power project will be one of the largest in the world once it comes online fully. The next COP will take place in the UAE. The Arabian country wants to generate renewable energy that could meet half of its power by 2050 and achieve net-zero carbon emissions by the middle of this century. The Al Dhafra solar power project near Abu Dhabi will generate 2.1 gigawatts of green energy that…
Global leading inverter and energy storage system solution supplier Sungrow has announced that it has signed a strategic distribution agreement for PV inverter solutions with Al-Babtain Leblanc. The company said that the new collaboration will further facilitate Saudi Vision 2030 ambitions to accelerate the energy transition and achieve sustainability goals. The official statement of Sungrow held that the distribution agreement plays a vital role in positioning Al-Babtain LeBlanc as the “partner of choice” for the Saudi Arabia market as a new distributor in the country for residential, commercial, and industrial solar energy products. The firm mentioned that in line with…
Leading Indian firms have expressed an interest in investing clean energy and infrastructure projects in Egypt. This has been revealed by the firms to Egyptian President Abdel-Fattah El-Sisi. These Indian firms, which include the likes of Renew Power and Adani Group, are eyeing the renewable energy sector, the production of green hydrogen and infrastructure development in Egypt. As per a statement of the Spokesman for Egypt’s President, Bassam Rady, Sumant Sinha, who is the Founder, Chairman and CEO of ReNew Power, India’s leading renewable energy firm, has revealed in a meeting with the President, his “huge interest” in extending cooperation…
Post the World Economic Forum (WEF) and the Future Minerals Forum held in Saudi Arabia, Eurasian Resources Group (“ERG”) has expressed eagerness to make investments in the Kingdom for the long term to enable energy transition. ERG, which has its headquarters in Luxembourg, is a diversified natural resources group. The firm is looking to invest $50 million in the market. Further, it will augment this number every year. ERG will be setting its sights on exploring battery transition minerals in the Ad Dawidimi region of the Kingdom. These will be large scale in nature, and facilitated by technology at early…
The energy transition towards renewables has recently seen an increase in Middle Eastern countries, especially in Saudi Arabia, UAE, Egypt, Morocco etc. Once dependent on its plentiful reserves of oil and gas for wealth, the region is finally embracing the zero-carbon emission goals. As per IRENA’s World Energy Transitions Outlook (WETO), the region could obtain almost 26 per cent of its total primary energy supply from renewables by 2050, and its total renewable share could reach up to 53 per cent in the power sector. With that, the region would be able to achieve emission reduction equivalent to 1.1 Gt…
A 1.8 MWp photovoltaic (PV) plant has been installed at Coca-Cola Al Ahlia Beverages’ Al Ain bottling facility to provide clean energy for the facility’s operations. The project represents a significant expansion of Emerge’s commercial and industrial operations, increasing their total capacity to more than 25 MWp since their establishment in 2021. Emerge, a partnership between Masdar of the UAE and EDF of France, has entered into a deal with Coca-Cola Al Ahlia Beverages, the UAE-based bottler and distributor of Coca-Cola products, to build a 1.8-megawatt solar photovoltaic power plant at its facility in Al Ain. The commercial and industrial…