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…
Author: Saur News Bureau
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…
COP28 President Dr. Sultan Al Jaber today told delegates at the opening of the Baku Energy Week that all stakeholders need to leverage the rise of Artificial Intelligence (AI), the energy transition and the growth of the Global South to accelerate climate positive sustainable development for all. Dr. Al Jaber also called on the energy and technology sectors to work more closely together on accelerating the adoption of AI to sustainably meet the world’s growing energy demand and drive decarbonization. “While AI is driving a surge in energy demand, it is also driving efficiencies that curb emissions. In fact, the…
Sungrow, the global leading PV inverter and energy storage system provider, has forged a strategic partnership with Larsen & Toubro to supply 165MW PV inverters and 160MW/760MWh energy storage systems for AMAALA, a prestigious destination in Saudi Arabia. This collaboration aligns with Saudi Arabia’s Vision 2030 and China’s Belt and Road Initiative. This flagship project is developed and led by EDF Group, the leading French utility company specialized in low carbon electricity generation with over 91% of its own production free of CO2 emissions, and Abu Dhabi Future Energy Company (Masdar), for the client Red Sea Global. Upon completion in 2027, the AMAALA destination…
Larsen & Toubro’s (L&T) renewable Engineering, Procurement and Construction (EPC) arm for the power transmission & distribution business has been chosen as the EPC contractor for a solar project. This project is undertaken to establish an 1800 MWac Solar Photovoltaic Plant in Dubai, United Arab Emirates. L&T stated in its announcement, “The project is the sixth phase of the ‘Mohammed bin Rashid Al Maktoum Solar Park’, Dubai, United Arab Emirates (UAE). This plant claims to reduce around 2.4 million tons of carbon emissions annually.” It further explained, “The project is spread over 20 sq km, and the project is estimated…
The Saudi Power Procurement Company (SPPC), responsible for the competitive tendering of renewable and conventional energy projects in Saudi Arabia, has entered into an agreement for 400 MW capacity with Tabarjal Solar PV project. This agreement comes as part of Round 4 of the National Renewable Energy Program (NREP). The Power Purchase Agreement was inked with a Jinko Power-led consortium. Sun Glare Holding Co. and Sunlight Energy Holding Co. are other firms of the consortium. The project is expected to supply power to 75,000 homes every year and boasts a Levelized Cost of Electricity (LCOE) at 1.70795 USDc/kWh (6.40482 halalas/kWh). The…
After the ambitious plan of becoming a hub for EVs, Saudi is aiming to become a key hub for making batteries for electric vehicles. This is in line with the Saudi’s plan to diversify the economy and develop a domestic auto industry. As per reports, Saudi Arabia is looking at investing in the production of EV batteries and manufacturing hydrogen-powered vehicles. It is believed that EV batteries will be a key supply chain manufacturing opportunity. It is reported that Prince Mohammed bin Salman’s program has plans to to wean the country off hydrocarbons and focus on increasing manufacturing after scant progress in…
NEOM Green Hydrogen Company (NGHC), which is building the world’s largest green hydrogen plant, has received the first delivery of wind turbines at the Port of NEOM in northwest Saudi Arabia. The first set of wind turbines was successfully delivered on October 8, 2023. They will be assembled and installed at the Wind Garden site near Gulf of Aqaba. In its statement, NGHC said that additional turbines are expected to be delivered by the end of the year. It further said that Wind Garden has more than 250 turbines to directly power the green hydrogen plant via a dedicated electricity…
Abu Dhabi clean energy firm Masdar, along with EDF Renewables and Nesma Company, has won a bid for the 1,100-megawatt (MW) Al Henakiyah solar power plant in Saudi Arabia. The consortium led by Masdar, signed a power purchase agreement (PPA) with the Saudi Power Procurement Company (SPPC) to develop, build and operate the $1bn solar farm that will power more than 190,000 homes a year. “Masdar is proud to have won the bid to develop the 1,100 MW Al Henakiyah Solar Plant, further strengthening our partnership with Saudi Arabia,” Mohamed Jameel Al Ramahi, CEO of Masdar said in statement. “The kingdom is a…
In order to boost renewable energy transition in the country, Oman is considering developing local energy storage solutions to accelerate the sultanate’s transition to renewable energy sources, according to the Minister of Energy and Minerals, Salim bin Nasser al Aufi. According to the minister, the sustainable energy storage solutions will play a crucial role in achieving the sultanate’s goal of generating at least 30% of power from renewable sources by 2030 and reaching 100% by 2050. “Energy storage solutions play a critical role in transitioning to renewable energy as this address the irregular nature of energy sourced through renewable sources…