Renewable Energy Acwa Power targets green hydrogen link to Europe The Saudi renewables company Acwa Power and the Italian natural gas transport operator Snam are to jointly explore investments to set up a green hydrogen supply chain. The collaboration aims to establish a “dependable and cost-effective” supply of green hydrogen from Saudi Arabia to Europe. The two companies will also evaluate the development of an […] January 27, 2025
EXCLUSIVE Renewable Energy China renewables pivot to Middle East to avoid Trump tariffs Chinese renewables manufacturers are looking to move some operations to the Middle East to avoid higher tariffs under US president Donald Trump, a senior executive from one of the sector’s largest players has told AGBI. Vincent Wu, vice president of sales at global solar panel manufacturer Trinasolar, said the region is the right place to […] January 27, 2025
Opinion Oil & Gas Expect the unexpected with Trump and the Gulf Whatever the new administration decides, it is unlikely to happen quickly January 24, 2025
Energy Abu Dhabi’s Phoenix Group signs Ethiopian power deal Abu Dhabi-based technology conglomerate Phoenix Group has acquired an 80 megawatt (MW) power purchase agreement (PPA) in Ethiopia. It follows just weeks after the company launched a 50MW cryptocurrency mining facility in North Dakota in the US. A PPA is usually a long-term electricity supply agreement. The deal, secured in partnership with UAE cybersecurity company […] January 22, 2025
Energy Masdar gets contractors on board for $6bn energy project Abu Dhabi Future Energy Company (Masdar) has selected the suppliers and preferred contractors for the $6 billion renewable facility capable of providing energy at scale around the clock in the emirate. Bombay stock exchange-listed Larsen & Toubro and China state-owned PowerChina are the preferred engineering, procurement and construction (EPC) contractors. China-headquartered Jinko Solar and JA […] January 19, 2025
Energy Acwa Power joins China’s renewable energy surge Saudi renewables major Acwa Power has struck joint ventures with Chinese companies to launch two renewable energy projects worth $312 million in China. The company, which trades on the Saudi Exchange (Tadawul), started due diligence on up to eight projects in China, CEO Marco Arcelli said last May. Acwa Power will develop a 132-megawatt (MW) solar photovoltaic […] January 17, 2025
Mining Aramco-Ma’aden JV to mine lithium in Saudi Arabia Saudi Aramco and Ma’aden, two listed companies on the Saudi bourse, will launch a joint venture for minerals exploration and mining in the kingdom. The proposed venture will focus on energy transition minerals, which includes lithium extraction from high-concentration deposits and use of cost-effective direct lithium extraction technologies. “This proposed JV would enable us to accelerate […] January 16, 2025
Renewable Energy UAE joins $1bn subsea power connectivity initiative The UAE has partnered with Italy and Albania to build a €1 billion ($1 billion) subsea connection to import renewable energy across the Mediterranean region. “We strongly believe in this project involving our three governments, private sector and grid operators,” Italian Prime Minister Giorgia Meloni told the World Future Energy Summit in Abu Dhabi. The […] January 16, 2025
Renewable Energy Masdar views Middle East as biggest growth market UAE’s renewable energy company Masdar considers the Middle East its biggest market, even though its target is to grow globally, a senior executive has said. “The Middle East is the biggest market for us, we are a company from here, and this market is growing significantly,” Abdulaziz Alobaidli, chief executive officer of Masdar, told AGBI […] January 15, 2025
Renewable Energy UAE plans $6bn solar energy storage plant The UAE will construct a renewable facility capable of providing energy at scale around the clock. The project – estimated to cost $6 billion – will be developed in partnership between the UAE state-owned renewables company Masdar and the Emirates Water and Electricity Company (Ewec). The new facility will include solar power with the potential […] January 14, 2025
Energy Turkey needs $80bn for energy transition, says minister Turkey needs $80 billion to meet growing energy demand, which has tripled in the last two decades, the energy minister said on Monday. “We need to attract capital into our energy markets. We need to find new business solutions,” Alparslan Bayraktar said at the International Renewable Energy Agency assembly in Abu Dhabi, adding that the […] January 14, 2025
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
