Company Insights Acwa Power Energy Acwa Power News Renewable Energy Acwa Power-Sumitomo tie-up for Uzbekistan projects Saudi energy company Acwa Power and Japan’s Sumitomo Corporation will jointly develop renewable energy projects worth $4.2 billion in Uzbekistan. The first set of projects include Sazagan 1 and 2 in Samarkand, each consisting of a 500 megawatt (MW) solar PV plant and 334MW battery energy storage systems (BESS). These projects are slated to begin […] October 1, 2024 Renewable Energy Saudi Arabia secures funds for 5.5GW solar projects The developers of solar power projects worth SAR12 billion ($3.2 billion) with a combined output of 5.5 gigawatts (GW) in Saudi Arabia have secured financing for their projects. Saudi-listed Acwa Power, Water and Electricity Holding Co (Badeel), a Public Investment Fund (PIF)-owned company, and Saudi Aramco Power Co (Sapco), a wholly-owned subsidiary of energy major […] September 30, 2024 Analysis Renewable Energy Egypt looks to Gulf investors to end power blackouts Egypt’s energy blackouts have created new opportunities for Gulf investors, as the cash-strapped Cairo government tries to end the crisis and plug the gap in its electricity supply before next summer. Prime minister Mostafa Madbouly announced on September 19 that there would be no more power cuts over the coming period, potentially marking an end […] September 27, 2024 Analysis Markets Saudi Arabia leads in stock lending as short selling grows Saudi Arabia is the Middle East’s most active market for stock lending – an important part of the process of short selling – and demand from borrowers is likely to increase as more sophisticated investors start trading, new research suggests. In stock lending, an entity – usually a broker or financial institution – pays a […] September 25, 2024 Renewable Energy Companies shortlisted for $1bn Oman wind farms Twelve companies have been shortlisted to build five large-scale wind power stations across Oman. The five projects, due to be completed by 2027, will bring a 20-fold increase in the amount of electricity generated by wind power in Oman, from 50MW to 1GW. The shortlist to build the projects, for a total investment of OMR500 […] September 23, 2024 Renewable Energy Egypt to receive half of Acwa Power’s $30bn Africa investment Saudi energy company Acwa Power is hoping for financial close on the first phase of a scheme to invest $15 billion in Egypt over the next six years, as part of a plan to quadruple its total investment in Africa. A flagship green hydrogen scheme in Egypt, as yet unnamed, could become the second-largest of […] September 17, 2024 Artificial Intelligence Saudi Arabia sets 12% target for AI’s contribution to GDP Saudi Arabia wants artificial intelligence to account for 12 percent of its GDP by 2030, the government has said. The Public Investment Fund will lead its efforts to build “a robust AI ecosystem”, the Saudi Data and AI Authority said in a report published this week. The State of AI paper said the country was […] September 11, 2024 Construction Sharjah confirms $693m water desalination project Saudi renewable major Acwa Power will build a new water desalination plant in Sharjah. The new independent water plant (IWP), which will be constructed at Hamriyah, Sharjah, will need an investment of SAR2.6 billion ($693 million). It will have a capacity of 410,000 cubic metres per day. The project scope includes development, design, financing, engineering, […] September 4, 2024 Renewable Energy Egypt advances 7,150MW of renewable energy projects Egypt is actively developing 7,150 megawatts (MW) of renewable energy projects, a government official has said. These projects are divided into 3,450MW of wind energy and 3,700MW of solar power. The wind energy projects include collaborations on the Red Sea involving the Orascom-Engie-Toyota consortium, Saudi Arabia’s Acwa Power and UAE’s Masdar, Egypt Today newspaper reported, […] August 28, 2024 Renewable Energy China wins $972m contract for new Saudi solar plant A Chinese state-backed consortium has won a $972 million engineering, procurement and construction (EPC) contract to build a two-gigawatt (GW) solar project near Mecca in Saudi Arabia. The Saudi PIF phase IV Haden photovoltaic project is being developed by Buraiq Renewable Energy Company, a joint venture between Acwa Power, the Public Investment Fund and Saudi […] August 16, 2024 Posts navigation Previous 1 … 4 5 6 … 14 Next
Renewable Energy Acwa Power-Sumitomo tie-up for Uzbekistan projects Saudi energy company Acwa Power and Japan’s Sumitomo Corporation will jointly develop renewable energy projects worth $4.2 billion in Uzbekistan. The first set of projects include Sazagan 1 and 2 in Samarkand, each consisting of a 500 megawatt (MW) solar PV plant and 334MW battery energy storage systems (BESS). These projects are slated to begin […] October 1, 2024
Renewable Energy Saudi Arabia secures funds for 5.5GW solar projects The developers of solar power projects worth SAR12 billion ($3.2 billion) with a combined output of 5.5 gigawatts (GW) in Saudi Arabia have secured financing for their projects. Saudi-listed Acwa Power, Water and Electricity Holding Co (Badeel), a Public Investment Fund (PIF)-owned company, and Saudi Aramco Power Co (Sapco), a wholly-owned subsidiary of energy major […] September 30, 2024
Analysis Renewable Energy Egypt looks to Gulf investors to end power blackouts Egypt’s energy blackouts have created new opportunities for Gulf investors, as the cash-strapped Cairo government tries to end the crisis and plug the gap in its electricity supply before next summer. Prime minister Mostafa Madbouly announced on September 19 that there would be no more power cuts over the coming period, potentially marking an end […] September 27, 2024
Analysis Markets Saudi Arabia leads in stock lending as short selling grows Saudi Arabia is the Middle East’s most active market for stock lending – an important part of the process of short selling – and demand from borrowers is likely to increase as more sophisticated investors start trading, new research suggests. In stock lending, an entity – usually a broker or financial institution – pays a […] September 25, 2024
Renewable Energy Companies shortlisted for $1bn Oman wind farms Twelve companies have been shortlisted to build five large-scale wind power stations across Oman. The five projects, due to be completed by 2027, will bring a 20-fold increase in the amount of electricity generated by wind power in Oman, from 50MW to 1GW. The shortlist to build the projects, for a total investment of OMR500 […] September 23, 2024
Renewable Energy Egypt to receive half of Acwa Power’s $30bn Africa investment Saudi energy company Acwa Power is hoping for financial close on the first phase of a scheme to invest $15 billion in Egypt over the next six years, as part of a plan to quadruple its total investment in Africa. A flagship green hydrogen scheme in Egypt, as yet unnamed, could become the second-largest of […] September 17, 2024
Artificial Intelligence Saudi Arabia sets 12% target for AI’s contribution to GDP Saudi Arabia wants artificial intelligence to account for 12 percent of its GDP by 2030, the government has said. The Public Investment Fund will lead its efforts to build “a robust AI ecosystem”, the Saudi Data and AI Authority said in a report published this week. The State of AI paper said the country was […] September 11, 2024
Construction Sharjah confirms $693m water desalination project Saudi renewable major Acwa Power will build a new water desalination plant in Sharjah. The new independent water plant (IWP), which will be constructed at Hamriyah, Sharjah, will need an investment of SAR2.6 billion ($693 million). It will have a capacity of 410,000 cubic metres per day. The project scope includes development, design, financing, engineering, […] September 4, 2024
Renewable Energy Egypt advances 7,150MW of renewable energy projects Egypt is actively developing 7,150 megawatts (MW) of renewable energy projects, a government official has said. These projects are divided into 3,450MW of wind energy and 3,700MW of solar power. The wind energy projects include collaborations on the Red Sea involving the Orascom-Engie-Toyota consortium, Saudi Arabia’s Acwa Power and UAE’s Masdar, Egypt Today newspaper reported, […] August 28, 2024
Renewable Energy China wins $972m contract for new Saudi solar plant A Chinese state-backed consortium has won a $972 million engineering, procurement and construction (EPC) contract to build a two-gigawatt (GW) solar project near Mecca in Saudi Arabia. The Saudi PIF phase IV Haden photovoltaic project is being developed by Buraiq Renewable Energy Company, a joint venture between Acwa Power, the Public Investment Fund and Saudi […] August 16, 2024
