Energy Middle East crisis may hasten shift to clean energy says IEA The Israel-Gaza geopolitical crisis poses a new risk to oil markets and may accelerate the shift towards clean energy, according to analysts at the International Energy Agency. “With the immediate geopolitical risks, it will be difficult to say that oil and gas represent safe and secure choices for consumers, for countries worldwide,” said Fatih Birol, […] October 25, 2023
Renewable Energy Saudi sticks to green energy goals despite pressures Saudi Arabia aims to be a model for green energy transition despite being home to the world’s largest oil production company, its minister of energy said in Riyadh this week. Abdulaziz bin Salman added that it will not let regional turmoil slow its progress. “We will be challenging everybody to ensure they can do what […] October 23, 2023
Opinion Sustainability Seven steps to reducing the Gulf’s emissions All GCC nations are in the top 10 of global polluters. This is what they can do about it October 19, 2023
Energy Suez Canal Economic Zone signs $15bn energy deals Egypt’s Suez Canal Economic Zone signed a $6.75 billion deal with China Energy Engineering Corporation on Tuesday, for a green ammonia and green hydrogen project to be built in its Sokhna industrial zone. On the same day, another Chinese company, Hong Kong’s United Energy Group, signed a memorandum of understanding for a potassium chloride production […] October 17, 2023
Finance Rich nations can’t pay for entire world, says hedge fund guru The founder of the world’s largest hedge fund has told a UN investment conference that the governments of developed countries cannot be expected to take care of the rest of the world. Ray Dalio of Bridgewater Associates, the US-based fund with $124 billion of assets under management, said those nations’ financial burdens were too big […] October 17, 2023
Transport Red Sea Global installs Saudi Arabia’s largest EV charging network Saudi developer Red Sea Global has installed what it says is the kingdom’s largest off-grid electric vehicle charging network. The network includes more than 150 charging stations spread across phase one of the Red Sea project. The stations are strategically located to keep Red Sea Global’s initial fleet of 80 electric Lucid and Mercedes vehicles […] October 17, 2023
Renewable Energy Miral’s Yas Bay waterfront to run on renewable energy Abu Dhabi-based property developer Miral has awarded a contract to run Yas Bay waterfront on clean energy as part of achieving the Emirate’s goal of net zero emissions by 2050. The company has signed an agreement with Emerge, a joint venture between the UAE’s Masdar and France’s EDF, to establish a 524-kilowatt peak (kWp) solar […] October 17, 2023
Renewable Energy Egypt offers tax rebates to boost green hydrogen output Egypt is offering incentives to boost local green hydrogen production as it aims to transition to a sustainable economy, finance minister Mohamed Maait said. The incentives include tax rebates of 33 percent to 55 percent for green hydrogen production and local production of electric vehicles, Egypt Today reported. “The total green investments in Egypt have […] October 13, 2023
Energy UAE to produce nuclear-powered pink hydrogen The UAE is investigating the production of pink hydrogen, which is generated through electrolysis powered by nuclear energy. “We are conducting studies to produce pink hydrogen by capitalising on the heat from our nuclear plants,” said Sharif Salim Al Olama, undersecretary for energy and petroleum affairs in the energy and infrastructure ministry. The country already […] October 12, 2023
Renewable Energy Alcazar Energy in $200m Montenegro wind farm deal Renewable energy investor Alcazar Energy has acquired the rights to a $200 million wind farm in Montenegro as the company turns its focus to investments in the Western Balkans. The company, which is based in the UAE, said the deal for the 118MW Bijela wind farm represents a milestone in its ambition to build the […] October 12, 2023
Energy Acwa Power secures funds for projects worth $14bn Saudi-listed Acwa Power has achieved the “largest number of financial closures in its history” with projects worth more than $14 billion in the past 12 months. Financial closures were achieved on 10 projects in Saudi Arabia, Egypt and Uzbekistan in renewables, water desalination and green hydrogen sectors. One of the major projects includes the $8.5 […] October 12, 2023
Manufacturing Chinese cash to supercharge Morocco’s EV battery sector Morocco’s plan to become a centre for electric vehicle manufacturing has received a boost from two Chinese companies, as the kingdom benefits from the cooling relations between Beijing and Washington. CNGR Advanced Material, a Chinese manufacturer of battery components, announced last month that it would join forces with Al Mada, a conglomerate owned by the […] October 10, 2023
Energy Masdar’s $8bn to add 10GW to Malaysia’s renewable goal Abu Dhabi state clean energy company Masdar will invest $8 billion for producing up to 10 gigawatts (GW) of renewable energy projects to help Malaysia realise its sustainable energy goal. The collaboration with state-owned Malaysian Investment Development Authority (Mida) will facilitate Masdar to develop up to 10GW by 2035 through ground mounted, rooftop and floating […] October 10, 2023
Opinion Sustainability In Riyadh, the Middle East rehearses for Cop28 The oil producers' message is clear: we'll change in our own time October 9, 2023
Renewable Energy UAE adds wind to its energy mix The UAE has inaugurated its first large-scale utility wind power project, as the Gulf state strives to boost its renewable energy capacity ahead of hosting the Cop28 climate summit later this year. Abu Dhabi’s state clean energy company Masdar has developed four wind farms, which have a total combined capacity of 103.5MW and will power […] October 6, 2023
Renewable Energy Masdar and Boeing work on SAF global acceptance Abu Dhabi’s state clean energy company Masdar and the American plane-maker Boeing have agreed to jointly work on accelerating global sustainable aviation fuel (SAF) regulations. The partnership document, signed at Adipec 2023, strives to support the commercial aviation industry’s goal of achieving net-zero emissions by 2050. The two companies will advance and support the development […] October 5, 2023
Adipec Energy Emirates up clean energy capacity to 16% of total mix The UAE’s installed clean energy capacity accounted for 15.6 percent of the country’s total energy mix last year, according to energy and infrastructure minister Suhail Al Mazrouei. The Gulf state has set a target of 30 percent by 2030 as per the updated UAE Energy Strategy 2050. Dr Dawud Ansari, a Berlin-based researcher at Stiftung […] October 4, 2023
Renewable Energy Budget for Xlinks UK-Morocco energy project rises The Xlinks Morocco-UK renewables project has run over budget by £4 billion ($4.8 billion) but the company is continuing to push ahead with the project, saying that it remains good value for money. “The rising cost is no different to what’s happening everywhere else,” Xlinks’ CEO Simon Morrish told AGBI, highlighting changes in supply chain […] October 4, 2023
Renewable Energy Renewables workforce nearly doubles in a decade Employment in the renewable energy sector has almost doubled over the past decade, the International Renewable Energy Agency and International Labour Organization have found. There were 13.7 million jobs in the global industry in 2022, up from 7.3 million in 2012, the agencies said in the report Renewable Energy and Jobs: Annual Review. Employment growth […] October 3, 2023
Opinion Renewable Energy The Gulf is on track to lead global climate tech We need to focus on mitigating the risks and adapting October 3, 2023
Renewable Energy Masdar enters Tajikistan with solar and hydro ambitions A joint venture between Abu Dhabi state clean energy company Masdar and W Solar Investment is exploring floating solar power and hydropower projects in landlocked and water-abundant Tajikistan. MW Energy has signed an agreement with Tajikistan’s Ministry of Energy and Water Resources and plans to develop at least 500MW capacity of clean energy. With an […] October 3, 2023
Energy Adnoc issues $615m contract for carbon capture project Adnoc Gas, a subsidiary of oil major Adnoc, has awarded a $615 million (AED2.26 billion) engineering, procurement and construction contract to Petrofac Emirates, a unit of the UK-headquartered oil services firm. The contract, for Middle East and North Africa’s largest integrated carbon capture project, includes constructing carbon capture units, pipeline infrastructure and a network of […] October 3, 2023
