Energy Abu Dhabi moves ahead on new renewable project UAE state-owned Emirates Water and Electricity Company (EWEC) is seeking expressions of interest for the development of a greenfield 400-megawatt battery energy storage system (BESS) project. The BESS technology aims to diversify EWEC’s energy portfolio, as its total solar photovoltaic power generation capacity will reach 7.5 gigawatts by 2030, the UAE state-run Wam news agency […]
Renewable Energy Oman closer to solar goal with new Sohar factory United Solar Polysilicon has started work on a $1.3 billion polysilicon factory in Oman’s Sohar Port and Freezone, believed to be the first of its kind in the Middle East. Polysilicon, a high-purity form of silicon, is a key raw material in the production of solar photovoltaic (PV) panels. Operations at the 160,000-square-metre Sohar factory […]
Renewable Energy Masdar opens solar energy plant in the Caribbean A hurricane-resistant solar power project developed by Abu Dhabi’s clean energy company Masdar for Antigua and Barbuda is now operational. Situated on Barbuda, the plant is designed to survive 265 km-per-hour winds and provide a safe and sustainable supply of electrical power for the island. The Green Barbuda project is part of the $50 million […]
Energy Masdar to build solar plants for UAE defence ministry Abu Dhabi’s clean energy giant Masdar and the UAE defence ministry have agreed to develop multi-solar plants across Abu Dhabi. Emerge, a joint venture between Masdar and France’s EDF Group, will provide a full turnkey solution for the projects for 25 years, including finance, design, procurement, construction, operations, and maintenance. No other project details were […]
Renewable Energy XLinks reaffirms UK is priority for Morocco power project British renewable power company Xlinks is “100 percent committed to the UK” despite reports suggesting it was refocusing its attention on Germany. Xlinks is overseeing the $22 billion Morocco-UK renewables project, which involves building solar panel and wind farms in the desert of the North African country. Via the installation of high-voltage direct current (HVDC) […]
Opinion Finance Climate finance moves to the top of the Cop29 agenda The world is still a long way from raising the $2 trillion-plus needed annually to achieve climate goals July 23, 2024
Opinion Artificial Intelligence AI and blockchain can support UAE carbon credit goals Carbon credits have become a critical instrument in mitigating greenhouse gas emissions July 22, 2024
Analysis Sustainability Morocco lures manufacturers to avoid EU carbon taxes Morocco is looking at investing in carbon dioxide capture and storage to attract manufacturers to the country who want to avoid the EU’s upcoming carbon tax on imports. The European Union’s Carbon Border Adjustment Mechanism (CBAM), which will come into effect in 2026, will tax imports of goods such as steel, cement and fertilisers into […] July 22, 2024
Opinion Economy The GCC must tackle climate risk to protect credit lines Climate premium costs could manifest as a silent tax burden and hamper economic development July 16, 2024
Sustainability Amazon fund invests in Omani startup Amazon is among a group of investors backing the Omani CO2 mineralisation startup 44.01 with $37 million in fresh funding. 44.01 won the 2022 Earthshot Prize for its development of a technique that harnesses the natural power of mineralisation in peridotite, a mineral that is found in abundance in the sultanate. The Series A funding […] July 15, 2024
Sustainability Bahrain signs ship recycling deal with Maersk Bahrain has signed an agreement with Danish shipping and logistics company A.P. Møller-Mærsk to create a ship recycling plant in the country. Maersk – the parent company of APM Terminals Bahrain and operator of Khalifa Bin Salman Port (KBSP) – will supply old vessels to the Arab Shipbuilding and Repair Yard Company, which will dismantle […] July 15, 2024
Sustainability Fertiglobe to supply renewable ammonia to Europe Abu Dhabi-listed fertiliser maker Fertiglobe has won the first global bid to supply renewable ammonia to the European Union (EU) as the trade bloc ramps up decarbonisation efforts. The company, a partnership between UAE oil giant Adnoc and Netherlands-based OCI, will supply 19,500 tonnes of renewable ammonia in 2027, with volumes potentially rising to 397,000 tonnes by 2033 […] July 12, 2024
Sustainability Forests in the desert: more than just a pipe dream Planting trees in the sand has been done before and can be done again, but when water is so scarce it is a remarkable challenge, says Valentina Pasquali July 8, 2024
Sustainability Adnoc secures $3bn to advance decarbonisation plan State-backed oil company Adnoc will use an AED11 billion ($3 billion) green financing facility from Japan Bank for International Cooperation (JBIC) to accelerate its decarbonisation and energy transition initiatives. The deal follows a heads of agreement signed between the two entities in January, the UAE state-run Wam news agency reported. The facility is part of […] July 5, 2024
Analysis Infrastructure Morocco struggles to solve its water crisis A seawater desalination plant that opened last month at Sidi Rahal near Casablanca is a major part of Morocco’s plans to tackle the country’s frightening decrease in water supplies. The plant will be built in two phases and is designed to produce 300 million cubic metres of water a year to supply 7.5 million people, […] July 1, 2024
EXCLUSIVE Sustainability Adnoc, Emirates Global Aluminium and the outlook for net zero It is a tall order. The UAE is striving to develop its industrial capacity while also decarbonising in a world that needs a 40 percent-plus reduction in emissions by the end of the decade to avoid devastating climate change. Two of the country’s biggest state-owned enterprises – Adnoc and Emirates Global Aluminium (EGA) – are […] June 26, 2024
Energy Masdar buys Greece’s biggest investor in renewables The UAE’s state-owned clean energy company Masdar is to acquire a majority share in Terna Energy of Greece. The initial deal – one of the largest in the European renewables market and the biggest ever energy transaction on the Athens Stock Exchange – is for a 67 percent stake. The price of €20 ($21.45) per […] June 21, 2024
Tech US firm to invest $50m in Mena climate tech A US venture capital firm backed by Hollywood actor Leonardo DiCaprio plans to invest $50 million in Mena climate tech startups over the next five years. Princeville Capital is targeting mature startups with strong growth potential, facilitating quick exits and a clear path to profitability, its co-founder Joaquin Rodriguez Torres told AGBI. The firm has […] June 14, 2024
Leisure & Hospitality Dubai hotel developer pins success on green credentials As protests against mass tourism sweep across Europe, the head of a Dubai-based developer with business in Ibiza said he is confident his company’s sustainability credentials can address such concerns. Kabir Mulchandani, founder and chairman of Five Holdings, believes that mounting apprehension around increasing visitor flows to the world’s most sought-after destinations is rooted in […] June 4, 2024
Aviation Sustainability chief calls for tax on oil companies Oil companies should be taxed and renewable alternatives incentivised in order to meet ambitious sustainability targets in the aviation industry, according to the sector’s industry trade body. “It’s too easy today to make money by drilling for oil,” said Dr Marie Owens Thomsen, senior vice president for sustainability and chief economist at the International Air […] June 4, 2024
Transport Saudi deal with Lucid powers up EV charging network US electric vehicle manufacturer Lucid has partnered with a Saudi government entity to create a much-needed network of charging hubs around the Gulf state. There were less than 1,000 electric cars on the roads in Saudi Arabia in 2023. Saudi-backed Lucid signed an agreement on May 29 with the Electric Vehicle Infrastructure Company (EVIQ), which […] May 30, 2024
Renewable Energy Tunisia signs $6.5bn green hydrogen investment deal Tunisia has signed a memorandum of understanding with French company TotalEnergies and Austrian group Verbund to produce green hydrogen (H2V). The first phase of the project, which is expected to cost €6 billion ($6.5 billion), aims to produce 200,000 tonnes of H2V per year, generating 5,000 megawatts (MW) of renewable energy and 2,000MW of electrolysis […] May 28, 2024
Sustainability $4bn set aside for Saudi water projects Saudi Arabia will spend $4 billion by the end of the decade on recycling over 2 billion cubic metres of water, about 70 percent of the country’s renewable water sources, an official said this week. Speaking at the World Water Forum in Indonesia, Mohammed bin Zaid Abuhid, head of the General Authority for Irrigation, outlined […] May 23, 2024
Renewable Energy UAE to roll out countrywide EV fast charger network The UAE is speeding up the expansion of its electric vehicle charger infrastructure in support of the energy transition, the shift from fossil-based systems of energy production. UAEV, a joint venture between the Ministry of Energy and Infrastructure and Etihad Water and Electricity that was announced on Monday, intends to build a network of high-performance […] May 20, 2024
Renewable Energy Turkey’s renewables scheme given $1bn by World Bank The World Bank has signed a $1 billion programme with Turkey to fast-track the nation’s renewable energy expansion initiatives. The financing comprises €600 million ($657 million) in loans from the International Bank of Reconstruction and Development, $30 million from the clean technology fund, and $3 million in grant funding from the World Bank’s energy sector management assistance […] May 17, 2024
