Renewable Energy Abu Dhabi to generate 50% power from green sources by 2030 By Pramod Kumar April 19, 2024, 4:08 AM Ewec/X The Al Dhafra solar PV project. Ewec plans to increase Abu Dhabi’s solar production capacity to 7.6 GW by 2030 Abu Dhabi plans to generate more than half of its electricity from renewable and clean energy by 2030, a senior Emirates Water and Electricity Company (Ewec) official has said. The state-owned entity is increasing the emirate’s solar energy production plan to 7.6 gigawatts (GW) by 2030, the UAE state-run Wam news agency reported, quoting CEO Othman Juma Al Ali. Major solar photovoltaic (PV) projects contributing to the new target include the Al Khazna and Al Ajban plants, as well as the Noor Abu Dhabi and Al Dhafra solar facilities. NewsletterGet the Best of AGBI delivered straight to your inbox every week Ewec this week announced plans to seek developers to build a 1,500-megawatt Khazna solar PV plant. The project is pivotal for advancing Ewec’s plans to enhance PV solar energy capabilities from 2027 to 2037, the CEO said. Additionally, Ewec is progressing on three power stations, scheduled for completion between 2028 and 2029. Abu Dhabi awards contract for first waste-to-energy facility Abu Dhabi plans decade of solar power launches Abu Dhabi’s utility firm delivers 60% of power from renewables Al Ali said there was an urgent need for an additional 5 gigawatts of gas capacity to support the integration of renewable energy projects and provide flexibility during peak energy demand. Discussions with relevant government authorities are underway to designate new energy production complexes, complementing existing thermal power plants in Shuweihat, Al Mirfa, Sas Al Nakhl, Al Taweelah, and Fujairah. Ewec has invested in low-carbon reverse osmosis projects, aiming to produce over 92 percent of water through reverse osmosis desalination plants by 2031, the CEO said. The state entity owns multiple stations, including Al Taweelah (200 million gallons), Al Mirfa (30 million gallons), and Fujairah (90 million gallons), with addittional stations under construction, such as Port 2 (120 million gallons), Shuweihat (70 million gallons) and Saadiyat (60 million gallons).
Real Estate PIF worker housing company buys luxury compound Smart Accommodation for Residential Complexes Company (Sarcc), the company established to provide housing for workers employed on major projects, has bought a luxury residential compound in Riyadh. Sarcc acquired Al Nakhla Residential Resort in Riyadh for SR2.5 billion ($667 million). The development, located in northern Riyadh, has more than 600 apartments and over 500 villas. […] 4 hours ago
Finance Investcorp chairman weighs IPO or deal with strategic investor Investcorp is considering a tie-up with a strategic investor or an initial public offering in the next few years, its executive chairman has said. Mohammed Alardhi said the Bahrain-based alternative asset manager had streamlined its strategy and reshuffled its leadership and management teams. For its next period of growth, Investcorp may look to outside investment, […] 6 hours ago
Artificial Intelligence Mubadala seeks to balance AI risks and rewards Artificial intelligence “presents a significant amount of risk” but also “a lot of opportunity”, the head of one of Abu Dhabi’s largest sovereign wealth funds said this week. On Tuesday the emirate launched a new digital strategy that aims to invest AED13 billion ($3.54 billion) over the next two years. “In terms of the risks […] 6 hours ago
Oil & Gas Iraq makes huge oil discovery but faces Opec restrictions Iraq has announced the discovery of a massive oil field expected to significantly increase the country’s hydrocarbon reserves, but Baghdad will face a number of challenges in its attempt to exploit the new resource. The field, located in the central part of the country, contains more than 2 billion barrels of medium and light crude […] 6 hours ago
