Energy Abu Dhabi moves ahead on new renewable project UAE state-owned Emirates Water and Electricity Company (EWEC) is seeking expressions of interest for the development of a greenfield 400-megawatt battery energy storage system (BESS) project. The BESS technology aims to diversify EWEC’s energy portfolio, as its total solar photovoltaic power generation capacity will reach 7.5 gigawatts by 2030, the UAE state-run Wam news agency […]
Renewable Energy Oman closer to solar goal with new Sohar factory United Solar Polysilicon has started work on a $1.3 billion polysilicon factory in Oman’s Sohar Port and Freezone, believed to be the first of its kind in the Middle East. Polysilicon, a high-purity form of silicon, is a key raw material in the production of solar photovoltaic (PV) panels. Operations at the 160,000-square-metre Sohar factory […]
Renewable Energy Masdar opens solar energy plant in the Caribbean A hurricane-resistant solar power project developed by Abu Dhabi’s clean energy company Masdar for Antigua and Barbuda is now operational. Situated on Barbuda, the plant is designed to survive 265 km-per-hour winds and provide a safe and sustainable supply of electrical power for the island. The Green Barbuda project is part of the $50 million […]
Energy Masdar to build solar plants for UAE defence ministry Abu Dhabi’s clean energy giant Masdar and the UAE defence ministry have agreed to develop multi-solar plants across Abu Dhabi. Emerge, a joint venture between Masdar and France’s EDF Group, will provide a full turnkey solution for the projects for 25 years, including finance, design, procurement, construction, operations, and maintenance. No other project details were […]
Renewable Energy XLinks reaffirms UK is priority for Morocco power project British renewable power company Xlinks is “100 percent committed to the UK” despite reports suggesting it was refocusing its attention on Germany. Xlinks is overseeing the $22 billion Morocco-UK renewables project, which involves building solar panel and wind farms in the desert of the North African country. Via the installation of high-voltage direct current (HVDC) […]
Opinion Sustainability Carbon capture isn’t a silver bullet but it’s part of the answer The priority for the energy transition should be to reduce emissions. Systems integration can do this March 18, 2024
Analysis Trade Digital economy focus of UAE-Malaysia trade talks The UAE is expected to sign a free trade deal with Malaysia by the end of June as the latter courts more investment to develop its digital economy. Talks on establishing a comprehensive economic partnership agreement (Cepa) began last year and Tengku Zafrul Abdul Aziz, Malaysia’s minister of investment, trade and industry, said the two […] March 13, 2024
Sustainability Saudi Aramco unit backs US climate tech startup CarbonCapture, a climate tech company, has raised $80 million from investors, including Saudi Aramco’s venture capital unit. The series A fundraising was led by Prime Movers Lab and included Aramco Ventures, Amazon’s Climate Pledge Fund, Siemens Financial Services, Idealab X, and Marc Benioff’s Time Ventures. The Los Angeles-headquartered startup’s latest major funding round is one […] March 13, 2024
Sustainability Saudi company faces blowback over water use in Arizona The US state of Arizona has cancelled land lease deals with a subsidiary of the Saudi dairy company Almarai after complaints of groundwater being depleted in the arid region. The cancellation highlights tensions over corporations controlling foreign land for food security. In 2014 Almarai’s Fondomonte bought and leased thousands of acres in Arizona and California, […] March 12, 2024
Opinion Sustainability Desalination is the answer – but it must be green The path forward in addressing water scarcity and pollution demands pragmatic solutions March 8, 2024
Opinion Markets We must build investors’ trust in carbon markets. This is how Voluntary carbon markets are recovering after a difficult couple of years, but there's more to do March 6, 2024
Analysis Tech Saudi Arabia warns of space debris threat Saudi Arabia is targeting lucrative and environmentally critical opportunities in the rubbish removal sector – in outer space. More than 27,000 man-made objects larger than 10 centimetres, such as defunct satellites and spent rocket stages, orbit Earth, according to Nasa. This space debris puts at stake billions of dollars of assets such as spacecraft and […] March 4, 2024
Opinion Banking & Finance Took them long enough, but at last BlackRock is calling out ESG The US investment giant could have got there sooner if it had listened to the Gulf March 4, 2024
Sustainability Saudi Arabia and UAE back fishing subsidies ban The UAE and Saudi Arabia were the only GCC countries to back a failed bid by the World Trade Organization (WTO) to curb subsidies that contribute to overfishing and wider fishing sector overcapacity. It had been hoped that the Agreement on Fisheries Subsidies (AFS), which, according to WTO director-general Ngozi Okonjo-Iweala, has “been on the […] March 4, 2024
Sustainability Turkey and Europe join up to promote carbon trading The European Energy Exchange (EEX) and Turkish energy bourse Enerji Piyasalari Isletme A.S (Epias) have signed a memorandum of understanding to develop carbon emissions trading in Turkey. “We look forward to working with Epias in creating a robust emissions trading system (ETS) in Turkey by providing our expertise in carbon markets,” said EEX chief executive […] February 29, 2024
Aviation Passengers pay for aviation’s sustainability shortcomings Penalties imposed on the aviation industry for failing to meet stringent sustainability targets will ultimately lead to higher air fares for passengers, according to an industry expert. “The customer is going to pay the extra cost,” said Wahab Teffaha, secretary general of the Arab Air Carriers’ Organization, speaking at the 11th annual Arab Aviation Summit […] February 29, 2024
Finance Asset manager Offset8 invests in Indonesia carbon project Asset manager Offset8 Capital, which specialises in financing climate mitigation projects, has facilitated an undisclosed early-stage investment in a waste management scheme in Indonesia. The project, run by Singapore-based sustainable waste management company Sawa EcoSolutions and its Indonesian operating arm Legasi Alam Indonesia, is expected to generate around $50 million of carbon credits over the […] February 29, 2024
Renewable Energy Masdar starts work on two UK battery storage projects Masdar Arlington Energy, a subsidiary of UAE’s Masdar, has started construction on two battery energy storage system (BESS) projects in the UK. The Royle Barn Road plant in Rochdale and Welkin Road plant in Stockport will have a combined capacity of 55 MW and provide enough energy to power 25,700 homes. Masdar acquired UK-based Arlington Energy in […] February 28, 2024
Renewable Energy DP World and Masdar link up for project to decarbonise ports Two of the UAE’s biggest companies have formed a partnership that aims to decarbonise ports in the Middle East and Africa. Logistics group DP World has signed a three-year agreement with clean energy giant Masdar. Their initial focus will be on ports in Saudi Arabia, Senegal and Egypt. The companies will identify the best sites […] February 27, 2024
Sustainability UK’s Solent Cluster courts Gulf for green investment The Solent Cluster, a network of 114 companies with interests on the English south coast, is considering working with Gulf companies to deliver $15 billion of green investment. The group is prioritising decarbonisation and among its proposals are a sustainable aviation fuel (SAF) plant for which Dubai’s national carrier Emirates and other airlines could become […] February 26, 2024
Energy Abu Dhabi plans decade of solar power launches Abu Dhabi is to launch a new solar power project each year for a decade, starting in 2027, Bruce Smith, strategy and planning executive director at the Emirates Water and Electricity Company (EWEC), told AGBI. EWEC is also exploring the issuance of a green bond to finance this series of projects, he said. The company […] February 23, 2024
Sustainability Climate transition galvanises ties between UAE and France Climate transition is becoming a central focus of economic cooperation between the UAE and France as the countries agreed to establish a “Bilateral Climate Investment Platform”. The platform aims to accelerate joint projects and investments in clean energy sectors, with a particular focus on advancing the decarbonisation of industries such as steel, cement and petrochemicals. […] February 22, 2024
Sustainability Take action to keep climate goal in reach, urges Al Jaber The UAE consensus achieved at the Cop28 summit in Dubai set a clear roadmap for keeping global temperature rise to within 1.5C. Now the world must turn the plan into action and results, said Cop28 president Sultan Al Jaber. Al Jaber told the International Energy Agency roundtable in Paris on Tuesday that all stakeholders must […] February 21, 2024
Sustainability UAE climate fund aims to mobilise $250bn by 2030 Altérra, a $30 billion climate-focused fund set up by the UAE and asset managers BlackRock, TPG and Brookfield, aims to catalyse the investment of $250 billion of private capital by 2030, its chief executive said. “The vision for Altérra was borne out of the Cop28 agenda for how to make climate finance more available, accessible […] February 19, 2024
Markets ADGM predicts fresh wave of green finance companies Abu Dhabi Global Market has a “strong pipeline” of green and sustainable finance companies due to open in the free zone this year as the sector expands and matures, a senior ADGM official has told AGBI. “There are a number of asset managers and others establishing themselves here that are green and climate transition-focused,” said […] February 19, 2024