$275mln finance secured for Oman’s first solar PV project
ACWA Power, along with project partners Gulf Investment Corporation (GIC) and the Alternative Energy Projects Co (AEPC), announced it had secured $275 million from six lenders to complete the finance for the $400 million 500MW Ibri II solar project, which will be funded on a 70:30, debt-to-equity basis. Executives from the consortium behind Oman’s largest solar project to date have spoken of the effort required to achieve financial closure for the project, given the financial battering markets are enduring during the COVID-19 pandemic. A syndicate of six international and local lenders, will provide the $275 million senior debt.
Dhafra solar plant final bids Postponed in Abu Dabi: WAM
The department of energy in Abu Dabi has postponed the announcement of the companies which have won the bids for developing a 1.5 gigawatt (GW) solar power plant in the Al Dhafra region, as reported by the state news agency WAM. A meeting originally scheduled for March 18 to open the final bids for developing the plant was postponed, WAM reported citing Awaidha Murshed al-Marar, chairman of the Abu Dhabi Department of Energy. The decision was taken in light of rules barring large group meetings due to the outbreak of the coronavirus, WAM reported.
Israeli Authorities Deny Solar Panels, Greenhouses to Palestinian Farmers in West Bank
Israeli authorities banned the installation of Palestinian-owned solar panels and a green house in the northern occupied West Bank area of Al-Aghwar. Local Palestinian media sources said that an Israeli troop obstructed installation works in the Kherbet Aldeir village, within the Tubas governorate. Palestinian chief for the Al-Aghwar rural area, Mo’taz Bsharat, told local media outlets that Israeli authorities, escorted by the military, invaded the Kherbet Aldeir village, earlier on Wednesday morning, and handed warrants to local farmers, who were attempting to install solar panels and a green house on their farm land.Bsharat added that the warrant states that the farmers are not allowed to embark on such works, by orders of the concerned Israeli authorities.
Fin close reached on Oman’s 500-MW Ibri II solar project
Financial close has been achieved on the 500-MW Ibri II solar power project in Oman, Saudi Arabia’s ACWA Power announced on Tuesday. ACWA Power is leading the consortium that in March 2019 won the licence to build the USD-400-million (EUR 368.7m) photovoltaic (PV) park. Its partners in the project are Kuwait’s Gulf Investment Corporation (GIC) and Alternative Energy Projects Co (AEPC). The independent power project (IPP), to be financed on a 70/30 debt to equity ratio, has received USD 275 million in senior debt funding with a maturity of 16.5 years from a group of six lenders. The lending consortium includes the Asian Infrastructure Investment Bank (AIIB), Bank Muscat, Riyad Bank, Siemens Bank, Standard Chartered Bank and Warba Bank.
Alectris, Mase complete 11.5MW solar project in Jordan
Alectris, the global provider of operations and maintenance service for solar industry, has announced the completion of a 11.5 MW project in Jordan in collaboration with Mase, a key player in the O&M and management of commercial and utility-scale solar PV plants. The project saw both firms join forces to deliver enhanced O&M and asset management services to the plant. Beginning in 2016, the partnership saw Mase take responsibility of field operations and maintenance services on location, while Alectris provided operations and legacy expertise in global asset care along with the Actis system. The ambitious partnership model from Alectris and Mase was specifically designed to formalise, expedite and autonomise asset management activity across new solar projects in the region.
Solar rooftops expect to see 66% rise by year-end
Rooftop solar energy is projected to see an approximate 66% jump in capacity to 1,250 megawatts (MW) by the end of the year, according to the head of the Turkish section of Solar Energy Society, GÜNDER. Speaking at the Solar Istanbul Solar Energy, Storage, E-Mobility and Digitalization Exhibition & Conference in the Istanbul Congress Center, Kaleli said Turkey’s solar sector has seen tremendous growth over the past few years with almost a 100-fold growth between 2015 and 2020. Revised legislation introduced by the Turkish Energy Market Regulatory Authority’s (EMRA) in May 2019 saw the more seamless installation of solar panels with greater installed capacities – of up to a maximum of 10 kilowatts for the residential sector and up to 5 megawatts (MW) for the industrial sector.
Egypt evaluating solar desalinators
ACWA Power has announced the signing of a memorandum of understanding (MoU) with two Egyptian government departments relating to the evaluation of a series of renewable energy-powered water desalination projects.The agreement outlines plans for a preliminary study followed by an initial feasibility study for desalination projects at undisclosed locations in Egypt which would be powered by solar, wind or a combination of the two. The reports will be produced for Egypt’s Ministry of Housing, Utilities & Urban Communities and state-owned utility the Egyptian Electricity Holding Company. The public bodies will then decide on next steps for the proposed projects. Saudi fossil fuel company ACWA Power has not specified a timeline for completion of the studies.