Renewable Energy EGA’s industrial data centres go green Emirates Global Aluminium (EGA), the UAE’s largest non-oil industrial company and one of the world’s largest aluminium producers, has broken ground on the first industrial data centres in the emirates to be totally powered by renewable energy. The two data centres in Jebel Ali and Al Taweelah will be developed in collaboration with Scientechnic, a […] March 1, 2024
Energy Acwa Power explores renewables projects in China Saudi renewables major Acwa Power has started due diligence on up to eight projects in China, CEO Marco Arcelli said. “The first one will be announced in the coming few months,” he said in the company’s Q4 2023 financial statement. “2024 will be the first full year of execution for the new growth strategy with […] March 1, 2024
Renewable Energy Egypt signs $40bn deals to develop green energy sector Egypt has signed seven agreements with global companies to develop green hydrogen and renewable energy projects in the Suez Canal Economic Zone, with expected investments worth $40 billion over 10 years. Investment of nearly $12 billion is expected for a pilot phase, followed by another $29 billion for the first phase, the government’s information department […] February 29, 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
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
Renewable Energy Iraq plans push on solar and green hydrogen projects Iraq is planning to build solar plants and its first green hydrogen project as part of a strategy to tackle power shortages and reduce its carbon footprint. The country’s cabinet has approved a proposal to install 12 gigawatts (GW) of solar power by 2030, said a National Investment Commission representative, Rahim Al Jaafari. Projects capable […] February 22, 2024
Energy Turkey and China to build $600m energy storage facility Turkey’s Progresiva Energy Investments has struck a deal with China’s Harbin Electric International to build a $600 million electricity storage facility, according to a media report. The project will be one of Europe’s largest energy storage facilities, Daily Sabah newspaper reported, citing Progresiva’s vice president, Cevdet Yılmaz. He said the initial phase, which will cost […] February 22, 2024
Renewable Energy Dewa and Masdar secure funding for sixth phase of solar park Dubai Electricity and Water Authority (Dewa) and Abu Dhabi’s renewable energy major Masdar have achieved the financial closing of the 1,800-megawatt (MW) sixth phase of the Mohammed bin Rashid Al Maktoum Solar Park. The funding has been jointly provided by Abu Dhabi Commercial Bank, Commercial Bank of Dubai, First Abu Dhabi Bank, HSBC, Standard Chartered […] February 22, 2024
Analysis Industry Gulf steel has a keen edge on Chinese and Indian rivals While the Gulf is currently a minor player on the global steel-making stage, economic diversification and the energy transition may be about to change all that. As the world seeks to decarbonise, Gulf steel makers have a head start, already producing lower-carbon steel than global sector leaders China and India. The region’s ample supplies of […] February 7, 2024
Energy Abu Dhabi and UK partner plan green hydrogen complex Abu Dhabi has linked up with Hycap, an asset manager that funds net zero projects, to develop an industrial complex for green hydrogen. The facility will include an electrolysis plant, hydrogen storage and tankers for transport. The partnership between Abu Dhabi Department of Economic Development (ADDED) and UK business Hycap hopes to attract international companies […] February 6, 2024
Manufacturing US commercial EV company to launch UAE factory Californian commercial electric vehicle manufacturer HummingbirdEV has announced plans to establish a micro-factory in the UAE. The highly automated manufacturing facility aims to accelerate adoption of commercial electric vehicles (EV) in the Middle East and North Africa, southeast Asia and India. HummingbirdEV said the factory will produce commercial EVs for an existing e-commerce customer as […] January 31, 2024
Renewable Energy Saudi lab plans for $10bn market in tandem solar cells Scientists in Saudi Arabia are working on tandem solar cells, a development that they say could become a $10 billion market. Professor Stefaan De Wolf and the Photovoltaics Laboratory at King Abdullah University of Science and Technology (Kaust) have published a paper setting out how the perovskite-silicon cells can be brought to market. The technology […] January 30, 2024
Renewable Energy Solar deal shows power of East Africa for Dubai A Dubai energy company has joined a $150 million solar project in Mozambique, the latest indication of the UAE’s interest in investing in East Africa. Amea Power will work with Mozambique’s Hidropower to develop the 125 megawatt Matambo solar photovoltaic power plant. The joint Mozambique-Dubai project will provide electricity to more than 150,000 homes in […] January 29, 2024
Energy Work starts on Egypt’s $30bn nuclear plant Russian President Vladimir Putin and Egypt’s Abdel Fattah Al-Sisi on Tuesday inaugurated the construction of a new unit at Egypt’s Dabaa nuclear power plant via video link, as Moscow moves ahead with its global nuclear ambitions. The power plant is being built by the Russian state corporation Rosatom at a reported cost of $30 billion, […] January 24, 2024
Oil & Gas Adnoc raises decarbonisation budget to $23bn Adnoc is to allocate $23 billion for decarbonisation and lower-carbon projects, it said on Monday, up from a previous target of $15 billion. The state oil company made the announcement at its annual board meeting, which was chaired by Sheikh Mohamed bin Zayed Al Nahyan, the president of the UAE. “The increased allocation will include investments […] January 22, 2024
Renewable Energy Oman plans fourth large-scale solar power park Oman has issued a tender to develop its next large-scale solar power project just days after financial close was announced on another. Nama Power and Water Procurement, the sole purchaser of electricity from independent power plants in Oman, has issued a request for qualification for the 500MW Ibri III project in the sultanate’s north-west region. […] January 19, 2024
Finance Saudi Aramco doubles funds for venture capital arm The Saudi oil giant Aramco said on Wednesday that it had more than doubled the capital allotted to its venture capital arms to $7.5 billion as part of its investment in new energy and digital technologies. The additional $4 billion will be given over the next four years to Aramco Ventures, where Aramco had already […] January 17, 2024
Opinion Markets Carbon credit futures can be the next big thing for markets This emerging sector opens up opportunities for financial hubs across the GCC January 17, 2024
Manufacturing Cobalt refinery to support Saudi EV ambitions A European mining company has announced plans to develop a refinery in Saudi Arabia to process cobalt hydroxide into cobalt sulphate, which is used in electric vehicle (EV) batteries. Luxembourg-based Eurasian Resources Group (ERG) said the project aims to strengthen its position as a strategic supplier to the chemicals sector, particularly in batteries for EVs. […] January 16, 2024
