Dubai’s EWEC Announces Partners to Develop the World’s Largest Solar Power Plant
The Emirates Water and Electricity Company (EWEC), a leading company in the coordination of planning, purchasing and providing of water and electricity across the UAE, announced the award for the world’s largest solar power plant. The project was awarded to a consortium led by Abu Dhabi National Energy Company (TAQA) and Masdar, with partners EDF and JinkoPower, for the development of the 2 GW Al Dhafra Solar Photovoltaic (PV) Independent Power Producer (IPP) project, which will be located approximately 35 kilometers from Abu Dhabi city. The project’s power purchase agreement (PPA) and shareholders’ agreement were signed with EWEC. The rigorous procurement process resulted in one of the most cost-competitive tariffs for solar PV energy, set at AED 4.97 fils/kWh (USD 1.35 cents/kWh) on a levelized cost of electricity (LCOE) basis. Upon full commercial operation, the plant is expected to reduce Abu Dhabi’s CO2 emissions by more than 2.4 million metric tonnes per year, equivalent to removing approximately 470,000 cars from the road. Through this project, 60% will be owned by a consortium comprising TAQA and Masdar, while the remaining 40% will be owned by EDF and JinkoPower. The project’s financial closure is expected to occur in Q3 2020, enabling initial power generation in H1 2022 and full generation by H2 2022. Once fully operational, the plant will increase Abu Dhabi’s solar power capacity to approximately 3.2 GW.
Amin Renewable Energy Company starts Commercial Operation for PDO Power Plant
The Independent Power Producer (IPP) renewable energy project, located near Nimr which lies approximately 300 km north east of Salalah, is providing power to Petroleum Development Oman (PDO’s) Interior operations as one of the world’s first utility scale solar projects to have an oil and gas company as the sole buyer of electricity. The contract to develop, finance, build, operate and maintain the photovoltaic (PV) plant was awarded in January 2019 to Amin Renewable Energy Company S.A.O.C, a special purpose company founded and developed by the Marubeni Corporation (Japan) as the lead founder, Oman Gas Company S.A.O.C, Bahwan Renewable Energy Company LLC of Oman, Nebras Power QPSC (Qatar) and financed by Bank Muscat SAOG. The innovative project attracted competitive tenders from highly reputed global developers in the renewable energy industry. Amin IPP is also the first utility scale PV power plant in Oman and has one of world’s lowest tariff at the time of award for such a project, which spans 23 years. The installation was built and commissioned in record time, just under 12 months after signing the EPC (Engineering, Procurement and Construction) contract, providing initial power into PDOs electrical grid in March 2020. Petroleum Development Oman’s landmark 100-megawatt Amin Photovoltaic Power Plant has now achieved a key milestone with start of commercial operations, having been successfully commissioned three months ahead of schedule and passing the acceptance test procedures.
New Strategic Cooperation Signed to Support Renewable Energy Development in Iraq
The Iraqi Engineers Syndicate, the Iraqi General Company for Exhibitions and Commercial Services, and the Baghdad Renewable Energy and Sustainability Center (BRESC) signed a strategic cooperation agreement to support the development of the renewable energy sector in Iraq. The newly signed agreement will support the promotion of renewable energy, and sets standardization schemes for approving architecture and constructions designs. It will also support in developing a reference for investment in the production and distribution of energy to increase energy efficiency measures through smart and innovative methods. In addition, the agreement supports the private sector in establishing partnerships in areas related to clean energy, through training and qualification and scientific research, which stimulates direct and indirect employment opportunities in relevant sectors. The agreement aims to create a national sector that is able to implement and manage renewable energy projects throughout Iraq. These projects will provide significant job opportunities and at the same time contribute in solving the energy crisis in Iraq through smart and innovative ways. We will start with training programs to build capabilities that meet the sector needs in cooperation with global training institutions, as well as encouraging youth projects.” Said Dr. Mohammed Shaker, President of the Baghdad Center for Energy and Sustainability and RCREEE Executive Committee member.
Sharaf DG Energy Celebrates World Nature Conservation Day by Discussing the Private Sector’s Renewable Energy Responsibilities
World Nature Conservation Day, celebrated annually on the 28th of July, brings people together to reflect and act on the most pressing environmental issues of our time. This year, Sharaf DG Energy is celebrating the day by sharing insights on how UAE businesses can foster nature conservation by contributing to create a world where humans and nature thrive together. Sharaf DG Energy, the energy vertical of the Sharaf Group – one of the biggest conglomerates in the Middle East who have been operating in the region for the last 45 years, has taken the lead to front-end responsible business practices. The organization now plays a key role in spreading awareness about energy and environmental conservation, providing renewable energy services for greening businesses, as well as the day-to-day lives of residents. Sharaf DG Energy is a turn-key solar energy solutions provider and aims to reduce the reliance on fossil fuels at a commercial, industrial and an individual level. The company has already contributed to the production of 20,000,000 kWh of clean energy from it’s solar power projects at key locations such as Dubai Airports, Dubai Healthcare City, Dry Docks, Retail Logistics, just to name a few. This is equivalent to carbon sequestered by 18,000 acres of forests in one year and avoiding CO2 emissions from 5,782,000 liters of petrol, thereby directly contributing to Dubai’s nature conservation goals.
Total Solar Completes Construction of 500 kW Rooftop Solar At Its Lubricants Blending Unit In Dubai
Total Solar has recently completed the installation of a solar-powered rooftop at Dubai Lubricants Blending Unit. The project is managed by Total Solar Distributed Generation Middle East. The 500 kilowatt-peak rooftop solar set up at the blending unit covers an area of 2,500m2. The solar power generated by the rooftop will cover approximilty 35% of the energy. The solar-powered rooftop will offset CO2 emissions by 7,000 tons* over the expected life-span of the installation. An extension of the project is currently under consideration, with an aim to cover approximately 70% of the facility’s energy needs, according to source. This project is part of Total’s solarization project which includes the installation of solar panels at its offices, blending units and around 5,000 of its service stations in more than 50 countries around the world, contributing to Total’s target of 25 GW of renewable generation installed capacity by 2025.
Mizuho Bank & Japan Bank Jointly Finance Largest Solar Photovoltaic Power Project In Qatar
Mizuho Bank, Ltd, President & CEO: Koji Fujiwara has arranged a project finance deal to build, maintain, and operate the Al Kharsaa Solar PV Power Project, the largest solar power project in Qatar, which by Mizuho Bank and the Japan Bank for International Cooperation (JBIC). For this project, Siraj Energy1, Marubeni Corporation, and Total Solar International formed a Special Purpose Company (SPC), Siraj1, which has a 25-year power purchase agreement with the Qatar General Electricity and Water Corporation (Kahramaa) for the energy produced via this plant. This is Qatar’s biggest renewable energy project to date with a capacity of 800MWp, and is one of the largest projects in the world to utilize bifacial solar modules, thereby enabling the effective use of resources.
Acwa Power Announces Shanghai Electric As EPC Contractor for Delivery of 5th Phase of the Mohammed Bin Rashid Solar Park
ACWA Power announced the appointment of Shanghai Electric as the Engineering, Procurement and Construction (EPC) contractor for the 5th phase of the Mohammed bin Rashid Solar Park, which follows within only 3 months of the PPA signing between Dubai Electricity and Water Authority (DEWA) and the consortium led by ACWA Power. In a private virtual ceremony, Mr. Mohammad Abunayyan, Chairman of ACWA Power and Mr. Zheng Jianhua, Chairman of Shanghai Electric addressed a gathering of senior delegates and company representatives from both parties, reiterating their commitment to the project and longstanding partnership. The Mohammed Bin Rashid Solar Park will be a key pillar in fulfilling Dubai Clean Energy Strategy 2050 to increase the share of clean energy in Dubai’s total power output to 75% by 2050. The project sets the benchmark for the rest of the world through leveraging the PPP model and carrying forward large-scale, cost-competitive projects.
Credit Agricole Group Invests in Amarenco Group and Becomes Its First Institutional Shareholder
IDIA Capital Investissement, with three other private equity companies of the Crédit Agricole group (Sofilaro, Grand Sud-Ouest Capital and Nord-Midi Pyrénées Développement) took a €15 million minority stake in Amarenco. With this full capital deployment, the Crédit Agricole group becomes the first institutional shareholder of the Amarenco group, alongside the co-founding shareholders and Irish family offices. From its global headquarter in Cork, Ireland, and its operational headquarter in South-West of France, Amarenco is today accelerating the deployment of its international activities, particularly in the Middle East and Asia-Pacific. With offices and local teams located in Muscat (Oman) and Singapore, the Group has built up a pipeline of projects under development and acquisition in excess of 2.5 GW.