Company Insights Acwa Power Energy Acwa Power News Exclusive Energy Acwa Power bids to turbocharge Saudi’s green targets When it comes to the green transition, Saudi Arabia has got some catching up to do. The country is targeting a 50-50 split in electricity generation between renewables and gas by 2030, but in 2021 just 0.2 percent of electricity came from renewable sources. To achieve this Vision 2030 goal, the country has tasked its […] July 28, 2023 Analysis Renewable Energy Clean energy set to power GCC-Central Asia trade growth Leaders from the GCC and countries in Central Asia, known as the C5 bloc, have pledged to boost trade, with clean energy expected to be at the heart of the relationship. The pledge was made at a summit held last week in Jeddah, which built on a meeting last September between foreign ministers from both […] July 26, 2023 Analysis Energy Green for go: UAE’s long-term plan for hydrogen The UAE has unveiled its national hydrogen strategy as analysts predict that GCC members can play a key role as exporters. The blueprint for hydrogen is a “long-term plan to turn the UAE into a leading and reliable producer and supplier of low-carbon hydrogen by 2031”, according to Suhail bin Mohammed Al Mazrouei, minister of […] July 26, 2023 Banking & Finance Moody’s opts to keep Iraq on lowly sovereign rating An influential ratings agency has decided to keep Iraq on one of its lowest sovereign ratings, despite the country’s strong oil exports and recovering foreign exchange reserves. Moody’s Investor Services said in an annual review released last week that corruption and weak institutions prompted it to maintain Iraq on a Caa1 rating, which is on […] July 25, 2023 Energy Saudi firm agrees deal for 10GW wind farm in Egypt Acwa Power, a Saudi-listed company and the world’s largest private water desalination company, has signed a memorandum of understanding with Egypt’s New and Renewable Energy Authority to allocate land for a 10 gigawatt wind project. The agreement allocates approximately 3,000 sq km of land west of Sohag, an urban centre on the Nile, for the […] July 18, 2023 Renewable Energy Financing agreed for $2.2bn Saudi solar project Financing agreements worth $2.2 billion have been finalised and signed to build one of the world’s largest single site solar power projects in Saudi Arabia. ACWA Power Co announced the deal for Al Shuaibah 1 and Al Shuaibah 2 PV projects in Mecca province, saying they will be funded by a combination of long-term debt […] July 17, 2023 Analysis Renewable Energy ‘A long way to go’ to reduce the Gulf’s carbon emissions As some of the world’s largest emitters of carbon dioxide, big exporters of hydrocarbons and beneficiaries of high per capita incomes, the spotlight is on the Gulf states’ efforts to reduce their carbon emissions. Expectations are high – and likely to become higher – as the UAE prepares to host Cop28 in November. “There is […] July 17, 2023 Energy Abu Dhabi receives 4 bids to build 1,500MW solar plant State-owned Emirates Water and Electricity Company (Ewec) has received four bids to develop the 1,500MW Al Ajban solar photovoltaic (PV) independent power project. The bids were submitted by Saudi-listed Acwa Power, France’s EDF Renewables, Japan’s Marubeni Corporation and a Japanese consortium of Jinko Power and JERA, the state-run Wam news agency reported. Al Ajban Solar […] July 11, 2023 Oil & Gas Iraq signs $27bn deal with TotalEnergies Iraq has signed a $27 billion deal with French major TotalEnergies to increase oil production and build renewable energy facilities. The long-delayed agreement represents the biggest single foreign investment in Iraq, Opec’s second largest crude producer. “I hope that this will be a strong signal to other investors to come to Iraq,” said TotalEnergies chairman […] July 10, 2023 Renewable Energy Acwa Power agrees $1.5bn Kazakh wind project Saudi renewable energy firm Acwa Power has signed an agreement with the Kazakhstan energy ministry and Samruk-Kazyna, the Central Asian nation’s sovereign wealth fund, for a one-gigawatt wind energy and battery storage project. Boasting an investment tag of $1.5 billion, the project, the Saudi-listed company’s first in Kazakhstan, is the largest investment by the kingdom in […] June 14, 2023 Posts navigation Previous 1 … 9 10 11 … 14 Next
Exclusive Energy Acwa Power bids to turbocharge Saudi’s green targets When it comes to the green transition, Saudi Arabia has got some catching up to do. The country is targeting a 50-50 split in electricity generation between renewables and gas by 2030, but in 2021 just 0.2 percent of electricity came from renewable sources. To achieve this Vision 2030 goal, the country has tasked its […] July 28, 2023
Analysis Renewable Energy Clean energy set to power GCC-Central Asia trade growth Leaders from the GCC and countries in Central Asia, known as the C5 bloc, have pledged to boost trade, with clean energy expected to be at the heart of the relationship. The pledge was made at a summit held last week in Jeddah, which built on a meeting last September between foreign ministers from both […] July 26, 2023
Analysis Energy Green for go: UAE’s long-term plan for hydrogen The UAE has unveiled its national hydrogen strategy as analysts predict that GCC members can play a key role as exporters. The blueprint for hydrogen is a “long-term plan to turn the UAE into a leading and reliable producer and supplier of low-carbon hydrogen by 2031”, according to Suhail bin Mohammed Al Mazrouei, minister of […] July 26, 2023
Banking & Finance Moody’s opts to keep Iraq on lowly sovereign rating An influential ratings agency has decided to keep Iraq on one of its lowest sovereign ratings, despite the country’s strong oil exports and recovering foreign exchange reserves. Moody’s Investor Services said in an annual review released last week that corruption and weak institutions prompted it to maintain Iraq on a Caa1 rating, which is on […] July 25, 2023
Energy Saudi firm agrees deal for 10GW wind farm in Egypt Acwa Power, a Saudi-listed company and the world’s largest private water desalination company, has signed a memorandum of understanding with Egypt’s New and Renewable Energy Authority to allocate land for a 10 gigawatt wind project. The agreement allocates approximately 3,000 sq km of land west of Sohag, an urban centre on the Nile, for the […] July 18, 2023
Renewable Energy Financing agreed for $2.2bn Saudi solar project Financing agreements worth $2.2 billion have been finalised and signed to build one of the world’s largest single site solar power projects in Saudi Arabia. ACWA Power Co announced the deal for Al Shuaibah 1 and Al Shuaibah 2 PV projects in Mecca province, saying they will be funded by a combination of long-term debt […] July 17, 2023
Analysis Renewable Energy ‘A long way to go’ to reduce the Gulf’s carbon emissions As some of the world’s largest emitters of carbon dioxide, big exporters of hydrocarbons and beneficiaries of high per capita incomes, the spotlight is on the Gulf states’ efforts to reduce their carbon emissions. Expectations are high – and likely to become higher – as the UAE prepares to host Cop28 in November. “There is […] July 17, 2023
Energy Abu Dhabi receives 4 bids to build 1,500MW solar plant State-owned Emirates Water and Electricity Company (Ewec) has received four bids to develop the 1,500MW Al Ajban solar photovoltaic (PV) independent power project. The bids were submitted by Saudi-listed Acwa Power, France’s EDF Renewables, Japan’s Marubeni Corporation and a Japanese consortium of Jinko Power and JERA, the state-run Wam news agency reported. Al Ajban Solar […] July 11, 2023
Oil & Gas Iraq signs $27bn deal with TotalEnergies Iraq has signed a $27 billion deal with French major TotalEnergies to increase oil production and build renewable energy facilities. The long-delayed agreement represents the biggest single foreign investment in Iraq, Opec’s second largest crude producer. “I hope that this will be a strong signal to other investors to come to Iraq,” said TotalEnergies chairman […] July 10, 2023
Renewable Energy Acwa Power agrees $1.5bn Kazakh wind project Saudi renewable energy firm Acwa Power has signed an agreement with the Kazakhstan energy ministry and Samruk-Kazyna, the Central Asian nation’s sovereign wealth fund, for a one-gigawatt wind energy and battery storage project. Boasting an investment tag of $1.5 billion, the project, the Saudi-listed company’s first in Kazakhstan, is the largest investment by the kingdom in […] June 14, 2023
