Renewable Energy African Development Bank part-funds Egypt’s solar project The African Development Bank Group (AfDB) has approved up to $184.1 million in financing for Egypt’s Obelisk solar power and battery storage project. The project involves the construction and operation of a one gigawatt )GW) solar photovoltaic plant and a 200-megawatt-hour battery energy storage system in south Egypt. The project’s total cost is estimated at […] June 13, 2025
Energy Rolls-Royce nuclear offshoot wins $3bn UK contract A Qatar-backed subsidiary of Rolls-Royce has won a contract to build three small modular nuclear reactors (SMRs) in the UK worth £2.5 billion ($2.86 billion). The UK government announced that Rolls-Royce SMR had won the contract on Tuesday, sending Rolls-Royce’s share price to its highest ever level. Qatar’s sovereign wealth fund, the Qatar Investment Authority, […] June 11, 2025
Renewable Energy Work gains pace at Neom’s $8.4bn green hydrogen plant Work on Saudi Arabia’s Neom green hydrogen project is 80 percent complete, with renewable energy production set to start next year, the developer behind the plans has confirmed. “Construction of the world’s largest green hydrogen plant is advancing rapidly,” Neom Green Hydrogen Company (NGHC) said in a statement. Progress has been made across the $8.4 billion green […] June 6, 2025
Renewable Energy Altérra backs Italy’s Absolute Energy renewables project Altérra, one of the world’s biggest private climate funds, has made its second direct investment in Europe through Italian renewable energy firm Absolute Energy and plans more deals ahead, its chief executive told Reuters. The fund, set up in 2023 by the United Arab Emirates with $30 billion, has so far invested $6.5 billion, mostly […] June 4, 2025
Exclusive Energy Masdar to increase bond issuances to fund renewables push Masdar, the UAE’s state-owned clean energy developer, is to increase its presence in international debt markets as it accelerates plans to install 100 gigawatts of renewable energy capacity by the end of the decade. Abu Dhabi’s Masdar raised $1 billion in a green bond sale last month, following previous issuances of $750 million in 2023 […] June 3, 2025
Renewable Energy Oman to start work on six renewable projects this year Oman will commence work on up to six new renewable projects this year, as the Gulf state aims to increase green energy’s contribution to 30 percent of total electricity generation by 2030. The wind projects will be at across various locations in the country, mainly in Al Wusta and Dhofar governorates, energy and minerals minister […] June 2, 2025
Energy Syria signs $7bn power deal with Qatari-led consortium Syria has signed a memorandum of understanding with a consortium of international companies led by Qatar’s UCC Holding to develop major power generation projects. The foreign investment is valued at about $7 billion, UCC said in a statement on Thursday. The agreement involves building four combined-cycle gas turbine power plants with a total capacity of […] May 30, 2025
Energy Kuwait hopes PPP projects will help end power crisis Kuwait is hoping that new energy projects involving state and private investors will help the country tackle its power crisis. One of the contracts is due to be awarded within weeks, according to Asmaa Al-Mousa, the acting director general of the Kuwait Authority for Partnership Projects (KAPP). Kuwait, a member of the Organization of the […] May 30, 2025
Renewable Energy Masdar-backed Emerge in talks for $300m renewables push Emerge, a clean energy joint venture between the UAE’s Masdar and France’s EDF Group, is in talks with regional and international lenders to secure financing for a $300 million expansion of its solar and storage portfolio, with a focus on the Gulf. “These are capital-heavy projects,” general manager Michel Abi Saab said on Wednesday in […] May 29, 2025
Renewable Energy Egypt awards renewable energy projects worth $400m Egypt has approved four new private sector-backed renewables projects to help achieve its 2030 green energy target. The solar and wind energy projects are expected to generate 400 megawatts (MW) and are being built for $388 million, according to local media reports, which quoted a ministry statement. The companies involved are Neptune for Electricity Production […] May 29, 2025
Renewable Energy Acwa Power enters Malaysia with $10bn investment plan Saudi Arabian energy company Acwa Power and the state-backed Malaysian Investment Development Authority (MIDA) have agreed to collaborate on developing 12.5 gigawatts (GW) worth of green projects in Malaysia by 2040. The initial investment will amount to $10 billion, supporting Kuala Lumpur’s target of increasing its installed renewable energy capacity to 70 percent by 2050, […] May 28, 2025
Renewable Energy UAE fund targets US renewables as Trump rolls back incentives A $30 billion UAE climate fund is ready to increase investment in US renewables as Republicans move to unwind parts of Joe Biden’s signature climate legislation. Majid Al Suwaidi, CEO of Altérra, the world’s largest private climate investment platform, said it was prepared to fill the gap wherever US federal incentives for clean energy are […] May 27, 2025
Renewable Energy Morocco state company gets $340m for energy transition Moroccan state-run utility company ONEE has secured €300 million ($340 million) in funding from the European Investment Bank (EIB) and German bank KfW to support renewable energy integration into the national grid. The financing package comprises €170 million from the EIB and €130 million from KfW. The fund will also be used to expand the national […] May 26, 2025
Renewable Energy PIF and Acwa Power to team up for 3GW wind farm Saudi Arabia’s $940 billion Public Investment Fund (PIF) and its affiliate Acwa Power are working on a wind farm project to develop enough electricity to power three small cities, according to reports. The wind power projects, one for 2 gigawatts and the other for 1GW, are part of the 2025 round of the country’s National […] May 23, 2025
Renewable Energy Acwa Power’s $2bn capital top-up approved Saudi Arabia’s market regulator has approved Acwa Power’s capital top-up request to support its global expansion. The agreement will allow the renewables major, which is backed by Saudi Arabia’s $925 billion Public Investment Fund, to increase capital through a rights issue worth SAR7.2 billion ($1.9 billion). The offering price and the number of shares will […] May 21, 2025
Construction Oman to build two low-carbon smart cities Oman has announced two new smart cities as part of its drive to reduce carbon emissions. The first city will be built in the mountain region of Jebel Akhdar, which is about 2,400 metres above sea level. The 12,000-sq-m plot is designed to accommodate 10,000 residents. The second development is Thuraya City in Bawshar Heights, […] May 20, 2025
Energy Middle East energy infrastructure gets $1bn boost Riyadh-based Arab Energy Fund (formerly known as Apicorp) and US-based Stonepeak have agreed to jointly invest $1 billion in energy infrastructure across the Middle East. Khalid Al-Ruwaigh, CEO of Arab Energy Fund, said in a statement that the partnership aims to accelerate the development of what he refers to as future-ready energy platforms, which will […] May 20, 2025
Renewable Energy OQGN to develop local hydrogen transport network State-owned OQ Gas Networks (OQGN), the pipeline subsidiary of Oman energy major OQ, and Belgium’s energy infrastructure group Fluxys will jointly develop the infrastructure for hydrogen transportation across the sultanate. As part of the contract the two companies will hold a minority stake in the hydrogen network, the state-run Oman News Agency reported. No details […] May 19, 2025
Renewable Energy Morocco reports growth in power production A surge in investment has boosted Morocco’s power generation by nearly 5 percent over the past four years as the North African nation pushed ahead with an electricity expansion strategy to higher demand, according to its energy minister. In early 2025, Morocco produced nearly 12 gigawatts (GW) of electricity, including around 5.4GW of renewable energy, […] May 15, 2025
Renewable Energy Oman Centre for Net Zero signs agreements worth $2bn Oman’s energy major OQ has formed a new company called Oman Centre for Net Zero and signed 13 separate renewable-energy agreements worth $2 billion. The agreements were signed during the three-day events of Oman Sustainable Week 2025 Exhibition in Muscat by OQ Group’s CEO Ashra al Mamari and Najla al Jamali, CEO of OQ Alternative […] May 13, 2025
Energy Dewa Q1 2025 profit falls despite revenue rise Net profit at the Dubai Electricity and Water Authority (Dewa) fell by about a quarter in the first three months of 2025 despite a rise in revenue. Net profit reached AED497.8 million in the first quarter, a drop of 23 percent year on year, according to Dewa’s consolidated interim financial report. Revenue rose 3 percent year […] May 13, 2025
Renewable Energy China to build large solar power plant in Kuwait China has won a contract to build a large solar power park at the Shagaya renewable energy complex in the heart of the Kuwaiti desert. The facility will allow the Gulf state to increase renewables’ share of its energy mix to more than a quarter, a Kuwaiti minister said. The unnamed Chinese government company has […] May 12, 2025
