With the aim to be one of the largest producers in the world by 2030, the Sultanate of Oman is investing more than $30 billion in the hydrogen economy. Notably, Oman is steadily moving towards clean energy to produce electricity as it has solar and wind power plants. Eng. Salim Nasser Al Aufi, Minister of Energy and Minerals, said, “Sultanate of Oman is exerting unremitting efforts to achieve zero neutrality by 2050 through a national plan. This is based on the importance of accelerated growth of clean energy and pushing green projects and green hydrogen.” He added that the energy…
Author: Saur News Bureau
Masdar has forged an alliance via an MoU with the Malaysian Investment Development Authority (MIDA), under which Masdar has committed investment to the tune of US$8 billion investment to aid with the development of up to 10 gigawatts (GW) of renewable energy projects in Malaysia. The project, slated for commissioning in 2035, includes a diverse range of renewable energy inititatives, such as ground-mounted, rooftop, and floating solar power installations. It will also encompass onshore wind farms as well as battery energy storage systems. The signatories of the agreement were Mohamed Jameel Al Ramahi, Chief Executive Officer of Masdar, and Datuk…
Saud-based ACWA Power has completed the financial closing for its projects worth more than $14 billion in the last 12 months. The funding, for the 10 major projects are said to be the landmark investments in the company’s history, which include renewables, water desalination and green hydrogen, in Saudi Arabia, Egypt and Uzbekistan. The firm said that the project financing has been sourced from several local and international financial institutions and infrastructure development funds. “The past 12 months marks a historic milestone for us, as it represents the highest number of projects, we have ever successfully achieved financial closure for…
Civil Aviation Authority has signed a memorandum of cooperation with OQ Group and SkyNRG, a sustainable aviation fuel solutions leader based in the Netherlands, aimed at studying the development of a sustainable aviation fuel (SAF) production facility in Oman. As per the pact, the trio will leverage global expertise to set the core prerequisites of setting up an innovative facility focusing on the research of cutting-edge technologies that drive the production of SAF. The agreement was signed by Naif bin Ali al Abri, Chairman of Civil Aviation Authority; Ghaleb bin Saeed al Maamari, Vice-President of Alternative Energy at OQ Group; and Oskar Meijerink,…
Kuwait’s Ministry of Electricity, Water, and Renewable Energy will initiate the issuance of Requests for Qualifications (RFQs) for the upcoming stages of the Al Shaqaya Renewable Energy Project (SREP) by the year’s end. The SREP project aims to achieve a capacity of 4,500 MW. The initial phase encompasses an independent solar photovoltaic energy production project with a capacity of 1,100 MW, as per local reports. The request for quotations for this phase is expected to be issued within the next two to three months. The subsequent phase will introduce a 200 MW concentrated solar power plant with a storage capacity…
The world’s largest oil exporter, Saudi Arabia, would soon be launching hydrogen trains. With this, it will be the first country in the Middle East to get hydrogen trains. To this end, Saudi Arabia Railways (SAR) has launched hydrogen train tests in the Kingdom, following the signing of an agreement with Alstom. For the successful implementation, the operational tests and studies necessary for preparing the train for the extremes of the Kingdom’s environment will be conducted, soon. It may be noted that the memorandum of understanding was signed by the Ministry of Energy and SAR, on 20 January 2022. But trials…
Abu Dhabi’s renewable energy firm Masdar has signed a new deal with Malaysia to invest $8 billion in renewable energy projects. The memorandum of understanding (MoU) with the Malaysian Investment Development Authority (MIDA) aims at the development of facilities with renewable energy capacity of up to 10 gigawatts in Malaysia by 2035. The projects will include ground-mounted and rooftop solar, floating solar, power plants, onshore wind farms and battery energy storage systems. As per the statement, the projects are envisioned to significantly contribute to the Asian country’s sustainable energy transformation efforts. “This important agreement will see the UAE and Malaysia…
Jordan has installed 4570 solar panel systems for households and 1625 solar water heater systems, since the launch of the Renewable Energy and Energy Efficiency Program between 2020 and 2022. According to the achievements report for 2022 by the Ministry of Energy and Mineral Resources, several agreements were signed with Islamic and commercial banks, civil society institutions, local cooperative associations, and charitable organizations to implement programs for installing solar water heater systems and solar energy systems for households, with 30 per cent of the cost of these systems being subsidized and up to 100 percent being subsided for some poor…
An MoU (Memorandum of Understanding) was signed between India and Saudi Arabia in Riyadh on the sidelines of the MENA Climate Week. The pact was signed by the Power Minister R.K. Singh, who is currently in Riyadh and Saudi Arabian Energy Minister Abdulaziz bin Salman Al-Saud. As per the statement, the pact aims to establish a general framework for cooperation between the two countries in the field of electrical interconnection, exchange of electricity during peak times and emergencies, co-development of projects, co-production of green and clean hydrogen and renewable energy and also establishing secure, reliable and resilient supply chains of…
Israel’s Ashtrom Renewable Energy, a renewable energy developer and subsidiary of Ashtrom Group, has signed a green financing totaling $270M with a group of five banks viz. BHI, the US operation of Bank Hapoalim Group, Bayerische Landesbank, ING Capital, Rabobank and Societe Generale. In addition, Ashtrom Renewable Energy signed a Tax Credit Transfer Agreement (TCTA) to sell the production tax credit (PTC) to be produced by the project over a ten-year period to a highly rated (Aa3 Moody’s) U.S. institutional entity. The total value of the PTC is estimated at $300 million. As per reports, the Tierra Bonita project is…