Energy Arab Energy Fund pledges $1bn for energy transition The Arab Energy Fund, formerly known as Apicorp, is planning to invest up to $1 billion over the next five years in energy transition, including decarbonisation technologies. Based in Saudi Arabia, Apicorp – the Arab Petroleum Investments Corporation – was founded in 1975 by the ten Arab oil-exporting states. The latest investment announcement is part […] December 5, 2023
Renewable Energy Egypt strikes Cop28 deals to drive green energy goals Egypt has signed several major agreements at the Cop28 climate conference in Dubai, as part of its drive to achieve its green energy goals, a local daily reported. Minister of international cooperation Rania Al-Mashat oversaw the signing of agreements with the Norwegian company Scatec, the African Development Bank (AfDB), and the British International Investment (BII) […] December 5, 2023
Renewable Energy Saudi powers up renewable energy capacity by 300% Saudi Arabia’s total installed renewable energy capacity has tripled since 2022, as the kingdom moves ahead to achieve net zero by 2060. An additional 2,100 megawatts (MW) of renewable energy has been connected to the grid, taking the total capacity to 2,800 MW. This can power over 520,000 homes, according to a statement issued by […] December 5, 2023
Renewable Energy Oman plans green-hydrogen corridor to Europe Oman’s plans to make the world’s first commercial-scale liquid hydrogen corridor are a step closer after the sultanate signed a deal with the fourth largest port in Western Europe. Oman’s Ministry of Energy and Minerals and Hydrogen Oman, better known as Hydrom, have signed an agreement with Port of Amsterdam, Zenith Energy Terminals and GasLog. […] December 5, 2023
Energy Al Jaber promises Cop28 is focused on ‘the science’ Dr Sultan Al Jaber defended his work as president of Cop28 on Monday, after criticism of remarks he made about climate science. “Everything this presidency has been working on, and continues to work on, is focused and centred around the science,” he told reporters in a press briefing at the UN summit. The Guardian newspaper […] December 4, 2023
Energy No transition without fossil fuels, says GCC energy chief As Cop28 negotiators tussle over the future of fossil fuels, a senior GCC official has suggested there will be no energy transition without them. Dr Mohammed Al Rashidi, director of energy and economic affairs at the GCC’s general secretariat, told AGBI at the climate summit: “If fossil fuels were gone from tomorrow, everything would shut […] December 4, 2023
Energy UAE among nations vowing to treble global nuclear capacity Leaders from 21 countries have pledged to treble global nuclear capacity by 2050, in a bid to advance the transition towards net zero. Nine heads of state endorsed the declaration to triple nuclear energy capacity by 2050 during the Cop28 summit, the UAE state-owned Wam news agency reported. Canada, Czechia, Ghana, Finland, Hungary, Japan, Moldova, […] December 4, 2023
Exclusive Energy Shift fossil fuel subsidies to renewables, says lobby chief Ramping up renewables while increasing oil output “sends the wrong signal” and is not the best way to tackle climate change, says the chief executive of Global Renewables Alliance, a policy group representing the clean energy industry. “Yes, the two can be done in parallel,” Bruce Douglas told AGBI at Cop28 in Dubai. “But we […] December 4, 2023
Renewable Energy Masdar strikes project deals in Angola and Kazakhstan Abu Dhabi state clean energy company Masdar has continued to announce new projects on the sidelines of Cop28 summit in Dubai, focusing on Angola and Kazakhstan. The UAE’s clean energy company signed a concession agreement with Angola’s ministry of energy and water to build and operate a ground-mounted solar power project in the Quipungo region, […] December 3, 2023
Energy Masdar strikes $14bn UK offshore wind farm deal UAE renewables company Masdar has agreed to acquire a 49 percent stake in Germany-based RWE’s twin Dogger Bank South offshore wind projects in the UK, representing an £11 billion ($14 billion) investment, the parties said. The deal was announced at Cop28 in Dubai, as UK prime minister Rishi Sunak pledged £1.6 billion in funding towards […] December 2, 2023
Energy Al Jaber flags ‘strong views’ and calls for collaboration Cop28 president Sultan Al Jaber told delegates at the opening of the global climate change conference in Dubai that he was aware that there were “strong views” about the inclusion of fossil fuel companies in the discussions. In his opening remarks, the Emirati head, who is also chief executive of the state oil company Adnoc, […] November 30, 2023
Renewable Energy Emissions-only focus will ‘fail’, clean energy expert says Efforts to tackle the climate challenge will be a “failure” if they continue with an emissions-only focus, delegates were told at the opening panel discussion at this year’s Cop28 in the UAE. Dennis Pamlin, a Swedish senior adviser at clean energy think tank Mission Innovation, said focusing solely on carbon emissions was a decades-old view […] November 30, 2023
EXCLUSIVE Sustainability Opec Fund piles up financing for wheat, wind and water The Opec Fund for International Development is on track to meet its pledges to increase grants and loans to climate-related projects, its Middle East and North Africa head has told AGBI. Musab Alomar, the fund’s director of public sector operations for Mena, said climate financing made up 33 percent of all Opec Fund approvals in […] November 30, 2023
Renewable Energy TotalEnergies invests $25m in Xlinks TotalEnergies announced on Wednesday that it has invested £20 million ($25.4 million) to acquire a minority stake in Xlinks, the company overseeing the £22 billion Morocco-UK renewables project. The French oil and gas major joins fellow investors Octopus Energy and Abu Dhabi National Energy Company (Taqa), the UAE’s largest power producer, which gave a substantial […] November 29, 2023
Energy Politicians lack will for climate action, says ex-chancellor Former UK chancellor Sajid Javid has suggested that Western politicians lack the will to follow through on climate commitments – because the costs of energy transition can be unpopular with voters. Speaking in the UAE just three days before the Cop28 summit begins in Dubai, Javid said the cost of living crisis had pushed climate […] November 29, 2023
Opinion Renewable Energy The GCC needs to make green upskilling a priority A speedy and successful energy transition needs a retrained workforce – Gulf leaders must act now November 28, 2023
Analysis Renewable Energy Adnoc seeks to turn carbon capture into revenue stream In the mountains of Fujairah, in the north of the UAE, an industrial site built by Adnoc sucks carbon directly from the air and converts it into rock. The CO2 is injected into the Hajar mountains, where the peridotite rock is capable of sequestering the greenhouse gas, thanks to technology developed by 44.01, an award-winning […] November 28, 2023
Renewable Energy Adnoc opens region’s first green hydrogen refuelling station UAE’s oil major Adnoc has opened the region’s first high-speed green hydrogen pilot refuelling station to test a fleet of zero-emission hydrogen-powered vehicles. The “H2GO” station in Masdar City, operated by Adnoc Distribution, will generate green hydrogen from water using an electrolyser powered by clean grid electricity, the company said in a statement. The hydrogen […] November 26, 2023
Renewable Energy Gulf’s first hydroelectric plant to be ready in Dubai in 2025 The Gulf region’s first hydroelectric plant in Hatta is 80 percent complete and forecast to be completed by early 2025, the emirate’s utility provider said on Thursday. Dubai Electricity and Water Authority (Dewa) in December said that the AED1.42 billion ($387 million) plant – the first of its kind in the GCC – was planned […] November 23, 2023
Opinion Sustainability The Middle East needs a bank for climate adaptation Given Mena's high climate risk exposure, the GCC should seize the initiative November 22, 2023
Renewable Energy Expo City Dubai set to be powered by renewables Expo City Dubai, which will host the Cop28 summit shortly, will eventually be fully powered by renewables, as the UAE moves to achieve net-zero emissions by 2050. Expanding on Expo City’s current on-site renewable energy capacity, Dewa, the Dubai Electricity and Water Authority, will permanently provide solar energy to the entire Expo City site through […] November 22, 2023
Renewable Energy DP World cuts carbon emissions by 50% in UAE DP World cut carbon emissions from its UAE operations by nearly 50 percent in 2023 using renewable energy generated by the Dubai Electricity and Water Authority (Dewa). The Dubai utility provider has issued more than 200,000 international renewable energy certificates (I-RECs) to DP World so far this year, the global ports operator said in a […] November 21, 2023
