Energy Turkey to invest $20bn to promote energy efficiency Turkey intends to invest more than $20 billion in energy efficiency projects by 2030 to combat climate change and boost sustainable development, according to a news report. The first national energy efficiency action plan attracted investments of $8.5 billion between 2017 and 2023, state-run Anadolu Agency reported, citing Bilal Düzgün, head of the ministry’s energy […] January 13, 2025
Renewable Energy Acwa Power awarded 1GW solar project in Iraq Iraq has invited Saudi Arabian utilities major Acwa Power to finalise an agreement for the construction of a 1,000 megawatt (MW) solar energy plant, local media reported. The country, Opec’s second largest oil producer, is engaged in a post-war programme to tackle a persistent power supply deficit. The plant in the Central Najaf governorate is […] January 10, 2025
Renewable Energy Abu Dhabi kicks off bidding for 1,500MW solar project Abu Dhabi’s Emirates Water and Electricity Company (Ewec) has issued a request for proposals (RFP) to pre-qualified companies for the development of the 1,500-megawatt (MW) Zarraf solar photovoltaics (PV) project. The greenfield independent power producer (IPP) will be able to power 160,000 homes and reduce CO2 emissions by up to 2.4 million metric tonnes annually. The […] January 10, 2025
Sustainability New net zero centre to support Oman’s carbon neutrality A “net zero centre” has been established by Oman’s Ministry of Energy and Minerals to support the sultanate’s carbon neutrality efforts. The centre will develop strategies, monitor the implementation of net-zero projects and provide technical support to government and private sectors to improve energy efficiency and reduce carbon emissions. The new centre “will play a […] January 8, 2025
Renewable Energy Oman-Korea venture strikes green ammonia deal with Thailand A joint venture between companies from Oman and Korea will supply 5 million tonnes of green ammonia to Thailand under a long-term sales contract valued at $4.5 billion. The strategic partnership between Korean green hydrogen company Lupro and Oman’s Bait Muscat was sealed in June when they agreed to build a green ammonia plant in […] January 3, 2025
Opinion Energy Something old, something new: GCC energy trends in 2025 To avoid a 2008-style power crunch, every type of energy must be thrown into the mix January 2, 2025
Renewable Energy Acwa Power signs up for 1GW Egyptian wind farm The Saudi energy company Acwa Power has signed agreements worth more than $700 million to fund the development, construction, operation and maintenance of a wind power plant in Egypt. Acwa Power said it signed the 20-year senior debt agreement, worth SAR2.63 billion ($703 million), with a syndicate of development financial institutions. The 1.1GW wind power […] December 31, 2024
Energy Egypt secures $275m loan for largest wind farm in Africa Egypt has secured $275 million in funding for the construction and operation of the largest wind farm in Africa. The loan, granted to Suez Wind, includes $200 million from the European Bank for Reconstruction (EBRD) and Development and $75 million from Arab Bank and Standard Chartered. The project is co-financed by the African Development Bank, […] December 26, 2024
Markets Masdar-backed Infinity Power considers Abu Dhabi IPO Infinity Power, a joint venture between Egypt’s Infinity and the UAE’s Masdar, is considering listing on the Abu Dhabi stock exchange within the next three years, according to its chairman. “If we’re going to list today, our preference would be Abu Dhabi,” Mansour said. “Maybe that changes in a year or two. It depends on […] December 18, 2024
Renewable Energy Water scarcity biggest threat to North Africa’s green energy drive Water scarcity is the biggest hurdle to the development of renewable power across North Africa, along with a lack of financing and governance failures, a new report says. Nevertheless, countries in the region are boosting production of sustainable sources of energy, pushed by unmet domestic demand and the European Union’s increasing hunger for imports of […] December 17, 2024
Construction Developer Modon signs deal for UAE green steel Abu Dhabi property company Modon is poised to be the first customer of a UAE pilot project to make sustainable steel with green hydrogen. Modon has entered a tentative agreement to purchase the more environmentally friendly construction material from Emsteel Group, which has been manufacturing it through a partnership with the Emirati renewable energy company […] December 16, 2024
Renewable Energy Oman and TotalEnergies target renewable projects OQ Alternative Energy (OQAE), Oman’s state-backed renewable energy company, has signed joint-venture agreements with France’s TotalEnergies to develop 300 megawatts (MW) of renewable energy projects nationwide. The power generated will be supplied through long-term power purchase agreements (PPA) to Petroleum Development Oman (PDO), an exploration and production company. TotalEnergies and OQAE will own 49 percent […] December 16, 2024
Renewable Energy Egypt and UAE company to develop $600m wind power plant Egypt has signed an agreement with Dubai-based energy company AMEA Power to build a 500-megawatt (MW) wind power project in the Gulf of Suez, according to media reports. The $600 million project reflects the country’s commitment to expand its renewable energy capacity, prime minister Mostafa Madbouly said. The renewable energy sector is a key focus […] December 15, 2024
Energy Loan for Egypt wind farms passed by Opec Fund A $40 million loan to Egypt to support the construction of two wind farms in the Gulf of Suez and Jabal Al-Zeit regions has been approved by the Opec Fund for International Development. The two wind farms, with a total capacity of 1.1GW, will provide energy to more than 1.3 million households and contribute to Egypt’s […] December 13, 2024
Sustainability UAE to get first lithium battery recycling plant The UAE’s first lithium battery recycling plant will become fully operational by the second quarter of 2027. The facility, a collaboration with state-backed Kezad Group and Witthal Gulf Industries, a unit of Singapore-based Witthal Group of Companies, will have the capacity to recycle 5,000 tonnes of battery waste annually by 2027. The plant is expected […] December 13, 2024
Renewable Energy UAE-backed group to take India’s ReNew Energy private A consortium including UAE-based investors plans to take the $2.4 billion Indian clean energy company ReNew Energy Global private. The group, comprising Abu Dhabi Investment Authority’s subsidiary Platinum Hawk, Masdar, Canada Pension Plan Investment Board and Sumant Sinha, founder and chairman of ReNew, have proposed $7.07 per share. This is a premium of 11.5 percent to the stock’s last close, […] December 12, 2024
EXCLUSIVE Construction Masdar City struggles to find contractors for cutting-edge projects Masdar City, Abu Dhabi’s flagship sustainable eco-city project, is facing a shortage of contractors skilled enough to meet the demands of its ambitious projects, a senior executive has warned. Masdar, the UAE’s clean energy company, is the anchor tenant at Masdar City, with the Mubadala Investment Company, one of Abu Dhabi’s sovereign wealth funds, ashareholder […] December 12, 2024
Transport Turkish electric vehicle sales up 39% in a year Turkey’s electric vehicle market is expanding rapidly, with sales increasing almost 39 percent year on year as new models become available and supporting infrastructure is put in place. The rise is in contrast to conventional car sales, which are showing modest growth compared to their greener rivals. Turkey is also bucking global trends, which has […] December 9, 2024
Sustainability Saudi and French companies link up for green projects Saudi Arabia and France have signed commercial agreements to push the development of renewables and green fuel production in the kingdom. The agreements were signed at the Saudi-French Investment Forum, attended by French president Emmanuel Macron in Riyadh. Saudi Aramco, Saudi Investment Recycling Company (SIRC), a subsidiary of the Public Investment Fund (PIF), and France’s […] December 4, 2024
Opinion Cop28 Saudi Arabia goes on the offensive on climate change Over the next 10 days in Riyadh, the kingdom will have the chance to demonstrate its commitment December 3, 2024
Renewable Energy Acwa Power plans to invest $50bn in China by 2030 Saudi energy company Acwa Power plans to invest up to $50 billion in renewable energy projects in China, a senior executive said on Tuesday. Lyu Yunhe, Acwa Power’s head of China operations, said they aim to work with Chinese state-owned companies to acquire clean power assets with a value of up to 20GW and an additional 1 […] December 3, 2024
Renewable Energy Turkey aims to invest $100bn in renewable energy by 2035 Turkey is committing to a $100 billion investment in renewable energy by 2035, in a bid to become a carbon-neutral economy within the next three decades, energy minister Alparslan Bayraktar said. The country has a roadmap to expand wind and solar energy capacity from 31,000 megawatts (MW) to 120,000MW by 2035, Hürriyet Daily newspaper reported, citing […] December 2, 2024
