The rising petrol prices in Jordan are boosting the sales of electric vehicles. The other factors that are driving the sales of the EVs include low import taxes, especially affordable Chinese-made models, that have become a common sight on the streets of Amman and the kingdom’s desert highways. As per local reports, the owners of EVs are no longer worried about pump prices since after plugging EVs overnight at home, gives a drive of 400 kilometres (250 miles) on a single charge. The buyers have expressed satisfaction as they are able to save almost two thirds of what they used to…
Author: Saur News Bureau
Saudi Arabia is emerging as a global leader in EV market with the launch of its own electric vehicle brand Ceer, and the recent opening in Jeddah of a factory by US luxury EV maker Lucid Group. Saudi Arabia is taking all efforts towards creating an EV manufacturing hub. In 2022, with the aim to diversify the country’s economy from oil, Saudi Crown Prince Mohammed bin Salman launched Ceer, the kingdom’s own EV brand. With the assistance of the PIF and in collaboration with Taiwanese contractor Foxconn, Ceer aims to develop a range of electric vehicles, including sedans and SUVs, with…
Kuwait Finance House (KFH) has launched a personal financing campaign in the Kuwaiti market titled “Sustainable Financing of Green Products”. It targets citizens owning private housing plots. The campaign will offer a comprehensive range of resources for customers to construct their homes using green sustainable housing and consumer products that helps preserving the natural resources and the harnessing of renewable energy. The campaign facilitates the process of building the future house in cooperation with specialised companies in the field. Abdulaziz Alsaeed, Acting Executive Manager of Personal Finance at KFH, said, “The campaign contributes to enhancing KFH’s role in raising awareness…
The Ministry of Energy has joined hands with the Ministry of Agriculture in Jordan towards the establishment of solar systems to support farmers in the country. Loans have been given by the Agricultural Credit Corporation. The loan interest will be looked into by the Renewable Energy Promotion Fund. The loa, worth one million and 140 thousand Jordanian dinars, will be interest-free. The beneficiaries will be allocated loans at the upper limit of 20 thousand dinars. The initiative will help curb agricultural production expenditure while also paving the way for a competitive climate for exports. Farmers will also be able to…
With the goal of Egypt’s transition to a low-carbon economy, diversify its energy mix, and to enhance its carbon capture and storage (CCS) projects, Egypt has joined hands with the International Energy Agency (IEA). To this end, Egypt’s Minister of Petroleum and Mineral Resources Tarek El Molla and Executive Director Fatih Birol signed a joint work programme. The signing ceremony was held via video conference in the presence of Egypt’s Ambassador to France Alaa Youssef. As per the joint programme, it will cover six main areas such as, developing scenarios and supporting CCS plans and programmes, expanding renewable energy and hydrogen…
The UAE and Jordan are setting a precedent in climate action and renewable energy cooperation. Dwelling on the trade partnership and investments in renewable energy between the two nations, Dr Thani Bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, emphasised the robust trade and investment partnership between the UAE and Jordan, fostered by the mutual interest of both countries’ leadership. In a statement, he said Jordan has become a regional investment hub of choice for the UAE’s direct investments, amounting to $4 billion. This accounts for 14 per cent of the total foreign direct investments received by the…
Sungrow, an inverter and energy storage system supplier, has launched its solar-plus-storage energy solutions covering utility-scale, C&I and residential scenarios at the Solar Show KSA 2023. The storage solutions provide technologies in the industry, focusing on accelerating Saudi Arabia’s transition from traditional energy to clean power and increase renewable energy proportion. It is believed to provide impetus into Saudi Arabia’s energy structure optimisation and 2030 vision. Amongst its products, it showcased SG320HX string inverter and the innovative “1+X” modular inverter towards utility-scale power plants. It also introduced its new generation of PowerTitan energy storage system. PowerTitan2.0. PowerTitan2.0, revolutionises energy storage…
The United Arab Emirates (UAE), one of the smallest members of the OPEC cartel, and among Arab nations, continues to remain one of the world’s energy powerhouses. While ranking 116th in size, the country has continued to retain a rank as the world’s 8th largest producer of crude oil. But the country is making headlines for something different now. As a model country preparing for the post oil era. The UAE has not just paid lip service, but backed it’s promises with serious investments. No wonder the country has been chosen to host the next COP summit this month. The…
A latest report from the International Solar Alliance (ISA) said that Middle East was one of the few regions across the globe with least global investments on solar technology. The report was released today at New Delhi in India during the ISA meeting. “Only a small fraction of global investments in the solar sector is being made in emerging and developing economies such as the Middle East and Africa, Latin America, and the Caribbean. Thus, these regions are lagging behind in the race of solar energy deployment,” the report said. The report batted for more investment in the sector to…
USA-based startup dedicated to solar energy technology, SolarSpace, is set to be a part of the NextGen FDI program. The startup that offers off-grid concentrated solar power (CSP) technology and electric vehicle charging stations, has set sights on setting up its regional headquarters in Abu Dhabi, UAE. SolarSpace is also in the process of the development of a water purification and desalination system that is carbon neutral. This system promises to bring down the cost of potable water considerably. The offering will be introduced at the United Nations Climate Conference (COP28) in Dubai in November this year. The initiative, NextGen…