Renewable Energy Digital platform targets Gulf green energy deal-making A new digital platform aims to facilitate deal-making between institutional investors and deal sponsors as Gulf states ramp up investment in green energy projects both at home and abroad. “When executives announce a pledge of X billion investment, and then start thinking, ‘Okay, how do we actually put that to work?’, they can go onto […] December 18, 2023
Renewable Energy PIF-backed Eviq plans to deploy 5,000 EV chargers Saudi Arabia has opened its first research and development facility to establish the country’s electric vehicle (EV) fast-charging infrastructure. Electric Vehicle Infrastructure Company (Eviq) – the newly launched joint venture between the Public Investment Fund (PIF) and Saudi Electricity Company – opened the facility in Riyadh. The company is on track to deploy 5,000 chargers […] December 18, 2023
Energy Oman sets up support unit for green-hydrogen developers Oman will set up a high-powered “delivery support unit” shortly to ease the logistical hurdles that global investors may face on their large-scale green hydrogen projects. The support unit is proposed to be announced by the government as early as this week, Oman Daily Observer reported, citing Mohsin Al Hadhrami, under-secretary of the Ministry of […] December 18, 2023
Energy UAE and China to explore global nuclear partnership The UAE’s Emirates Nuclear Energy Corporation (ENEC) and China National Nuclear Corporation (CNNC) will explore development and co-investment opportunities for new nuclear energy plants around the world. Mohamed Al Hammadi, managing director and chief executive of ENEC, and Yu Jianfeng, chairman of CNNC, signed a cooperation agreement during the Cop28 summit which ended last week, […] December 18, 2023
Opinion Sustainability Moving mountains to lead in global carbon capture race Oman and the UAE may hold the key to CO2 capture December 15, 2023
Renewable Energy AMEA Power plans $15bn hydrogen investment in Africa UAE renewable energy company AMEA Power is ready to develop projects worth $15 billion in Africa as it ramps up production of green hydrogen. The company, which has a clean energy pipeline of over 6 gigawatt (GW) across 20 countries, plans to develop three 1GW-scale electrolyser projects in Mauritania, Djibouti and Egypt. “We believe they […] December 13, 2023
Renewable Energy UAE sets sustainable aviation fuel targets The UAE is aiming to have sustainable aviation fuel (SAF) account for at least 1 percent of the total fuel supplied at airports in the Gulf state by 2031, according to a new government ruling. The Guideline on Sustainable Aviation Fuel says the country hopes to produce 700 million litres annually by 2030, according to […] December 13, 2023
Renewable Energy Morocco reveals strategy to speed up energy transition Morocco is accelerating plans to add 9 gigawatts to its electricity generation capacity – enough power for nearly 8 million homes – with 7GW coming from renewables. But the country will need to discover or import more gas as it bets on creating a new hydrogen economy, according to Leila Benali, its minister of energy […] December 11, 2023
Energy Omani solar plant secures $302m funding A 500 megawatt (MW) solar project in Oman has secured $301.8 million in funding from a group of international financial institutions. The Manah-1 Solar IPP is being built in Manah, located in Oman’s Al Dakhiliyah governorate, Oman Daily Observer reported. Wadi Noor Solar Power Company is developing the project, which is a partnership between France’s […] December 10, 2023
Renewable Energy Oman could become world leader in geologic hydrogen Green hydrogen has made global headlines as a potential carbon-free alternative to fossil fuels, but some experts believe another, abundant source of the gas could be under our feet. It is known as geologic hydrogen. Geologic hydrogen occurs naturally in the earth’s crust and is produced when water reacts with iron-rich rocks in the subsurface. […] December 10, 2023
Renewable Energy UAE’s Masdar to develop green hydrogen in Spain Abu Dhabi Future Energy Company (Masdar) is exploring developing a green hydrogen plant in central Spain to aid in the decarbonisation of Europe’s hard-to-abate sectors. The Abu Dhabi-based renewables energy company is collaborating with Verbund Green Hydrogen on the proposed venture – in an agreement which was signed at the UN’s Climate Change Conference Cop28 […] December 8, 2023
Renewable Energy Dubai opens world’s largest concentrated solar power project UAE Vice President and Dubai Ruler Sheikh Mohammed bin Rashid Al Maktoum has inaugurated the world’s largest concentrated solar power (CSP) project as the Gulf state accelerates towards becoming net zero by 2050. The project is part of the AED15.78 billion ($4.30 billion) fourth phase of the Mohammed bin Rashid Al Maktoum Solar Park in […] December 7, 2023
Renewable Energy Acwa Power to develop $1bn green hydrogen project in Indonesia Saudi-listed Acwa Power will develop a $1 billion green hydrogen facility – the largest in Indonesia – that will start commercial production in 2026. The project will be codeveloped with PT Perusahaan Listrik Negara (PLN), Indonesia’s state-owned electricity provider and PT Pupuk Indonesia, a state-owned fertiliser and chemical producer. The agreement was signed on the […] December 7, 2023
Renewable Energy Masdar expands renewables footprint to Jordan and Europe UAE company Masdar has expanded its renewables footprint to Jordan, while exploring the development of a green hydrogen supply chain from Abu Dhabi to Europe. The agreements were signed on the sidelines of the Cop28 climate summit in Dubai. Masdar signed a joint development agreement with the Jordanian energy and mineral resources ministry to develop […] December 7, 2023
Energy Total CEO backs renewables to phase out fossil fuels TotalEnergies’s CEO gave his backing to an international pledge to triple renewable energy generation at the Cop28 climate summit, calling it necessary to phase out fossil fuels and decarbonise. “It’s the right way to frame the object, tripling renewables, because if we don’t do that, there’s no way to phase out fossil energy,” Patrick Pouyanne […] December 7, 2023
Video length: 06:23 EXCLUSIVE Renewable Energy Nuclear ‘arrives too late’ to halt climate emergency Nuclear energy will not help the world meet its urgent target to limit global warming, according to the head of the International Renewable Energy Agency. Francesco La Camera, director-general of Abu Dhabi-based Irena, told AGBI the significance of nuclear power in fighting climate change had been overstated. “Nuclear does not serve the climate change agenda […] December 7, 2023
Renewable Energy Acwa Power plans a bold investment future in Africa Saudi Arabia-listed Acwa Power is targeting future investments in Africa as part of the clean energy company’s plan to triple in size by 2030. “Africa needs that energy transition. But there aren’t enough developers going there and asking questions,” said Raad Al-Saady, vice chairman and managing director of Acwa Power, during a panel discussion at […] December 6, 2023
Transport UAE motorcycle rental firm invests in EV chargers Easy Lease Motor Cycle Rental has acquired 60 percent of electric vehicle charger manufacturer, supplier and installer Fully Charged. Since 2020 Dubai-based Fully Charged has installed more than 5,000 charging devices across the UAE for businesses including Damac, Dubai Holding and Emirates. Easy Lease, listed on Abu Dhabi’s secondary market, wanta to double that number […] December 6, 2023
Video length: 06:23 EXCLUSIVE Banking & Finance Mashreq will ‘follow science’ for fossil fuel fund phase-out The UAE’s Mashreq Bank will “follow the science” when it comes to phasing out funding for fossil fuel companies, according to a senior executive. Mashreq is one of the top contributors to the UAE Banks Federation’s AED1 trillion ($272 billion) pledge to boost their green financing. The bank has committed to facilitating AED110 billion in […] December 6, 2023
Video length: 06:23 Renewable Energy Arab alliance allocates $10bn for green energy projects The Arab Coordination Group, an alliance of regional and international development institutions, has allocated $10 billion until 2030 to support energy transition in developing countries. The funding will drive a “comprehensive and affordable” transition to renewable energy in developing countries, the group said in a statement released during the Cop28 climate summit in Dubai. The […] December 6, 2023
Video length: 05:05 VIDEO Renewable Energy Gulf’s biggest asset is ‘sun in the sky’ – not its oil reserves The Middle East could become a powerhouse of green industrialisation by exploiting its vast renewable energy sources, the chair of the Energy Transitions Commission has told AGBI at the Cop28 summit in Dubai. “Your long-term asset in this region is not the oil under the ground, it’s the sun in the sky,” said Adair Turner, […] December 6, 2023
Energy Masdar signs $16bn alliance with Spain’s renewables giant Green energy companies Iberdrola and Masdar announced a €15 billion ($16.3 billion) partnership agreement on Tuesday to explore joint offshore wind and green hydrogen projects across the world. After a co-investment in Baltic Eagle wind farm in Germany, the two parties will invest in the 1,400MW UK East Anglia 3 offshore wind project. The deal, […] December 5, 2023
