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Masdar Acquires 50% Stake In 1.6 GW RE Portfolio
EDF Renewables North America and Masdar, one of the world’s leading clean energy developers and a subsidiary of Mubadala Investment Company announced Masdar’s second strategic investment in the United States (US) in a deal with EDF Renewables North America that will see it acquire a 50 % stake in a 1.6-gigawatt (GW) clean-energy portfolio. Under the terms of the agreement, Masdar has acquired a 50 % interest in three utility-scale wind farms in Nebraska and Texas totalling 815 megawatts (MW), and five photovoltaic (PV) solar projects in California – two of which include battery energy storage systems – totalling 689 MW of solar and 75 MW of lithium-ion battery energy storage. The 243 MW Coyote wind project is located in Scurry County, Texas; the 273 MW Las Majadas wind project is in Willacy County, Texas; and the 300 MW Milligan 1 wind project is in Saline County, Nebraska. All three wind projects are currently under construction and expected to begin commercial operations in the fourth quarter of 2020.
Q2 Power Plant Tender Activity For Middle East Down By 23%
There were 30 power plant tenders announced in the Middle East and Africa region in Q2 2020, marking a drop of 23% over the last 12-month average of 39, according to GlobalData’s power industry tenders database. Power Plant stood at first place when compared with other power tender categories in the Middle East and Africa region in Q2 2020 with 30 tenders and a 33.3% share, followed by T&D Project with 23 tenders and a 25.6% share and T&D Equipment with 19 tenders and a 21.1% share during the quarter. Looking at power plant tenders by the type of technology in the Middle East and Africa region, solar accounted for 17 tenders with a 54.8% share, followed by thermal with six tenders and a 19.4% share and hydro with six tenders and a 19.4% share. Solar is top technology for Middle East and Africa power plant tenders in Q2 2020
Azelio Signs Agreement With Alec Energy to Set Up Renewable Energy Storage Site
Azelio will install a verification project in Abu Dhabi in Q3 2020 together with Masdar and Khalifa University. The purpose of the installation is to evaluate Azelio’s energy storage technology for inclusion in the Masdar product portfolio for current and future renewable energy projects. An agreement has now been signed with ALEC Energy to set up the Azelio project site in Masdar city, Abu Dhabi. The preparation for Azelio’s energy storage installation in Abu Dhabi is progressing according to plan. The project has reached an important milestone in a signed agreement with ALEC Energy to prepare and set up the installation site. ALEC Energy is the award-winning solar business division of ALEC Engineering and Contracting L.L.C., part of the Investment Corporation of Dubai. Azelio and ALEC Energy recently signed a Memorandum of Understanding, covering a collaboration over 49 MW installed capacity of Azelio’s energy storage until 2025.
Yellow Door Energy Achieves 110 MW Of Solar Milestone
Yellow Door Energy, a sustainable energy provider for businesses, celebrated its fifth anniversary with an impressive milestone of 110 megawatts of distributed solar assets in the UAE, Jordan and Pakistan. The company’s solar projects have generated over 50 million kilowatt-hours of clean energy to-date. Yellow Door Energy’s solar projects also have eliminated 21,600 tonnes of carbon emissions, equivalent to removing 4,700 passenger cars off the road. “Five years ago we saw a future where businesses could generate the power they needed for themselves. Having supported the first businesses in the Middle East and Pakistan on this sustainable energy transition, we are more confident than ever in our vision. On the personal front, I am immensely thankful for all the support from my colleagues and partners who have shared in this vision. Our success will mean a cleaner, more efficient, and more resilient world.”, Jeremy Crane, CEO and Co-Founder of Yellow Door Energy, said.
ADNOC Group CEO on the “Robust Return of Oil Demand”; 2020’s Largest Energy Infrastructure Deal and the UAE’s Competitive Position in the Energy Future
H.E. Dr. Sultan Ahmed Al Jaber, Group CEO, ADNOC and Minister of Industry and Advanced Technology in the UAE and Group CEO, ADNOC, speaks with IHS Markit Vice Chairman Daniel Yergin for the latest CERAWeek Conversations. Abu Dhabi National Oil Company (ADNOC) Group CEO and UAE Minister of Industry and Advanced Technology H.E. Dr. Sultan Ahmed Al Jaber sees a “robust return of oil demand” but advises that industry must remain “cautiously optimistic” as it adjusts to “multiple structural macroeconomic changes” around the world in the latest edition of CERAWeek Conversations. In a conversation with IHS Markit, Vice Chairman Daniel Yergin, Al Jaber discusses current energy market dynamics; initiatives to grow valued-added domestic industries—including a recent $20 billion-plus mega-infrastructure deal; priorities to advance next-generation AI, IoT, and machine learning technologies; the widespread adoption of renewables in the UAE; the country’s competitive position in the energy transition as a low cost, low carbon producer and more.
DNV GL Served As Independent Engineer For The Disposition Of KKR’s 33.33% Equity Stake In Acciona Energía International
DNV GL, the world’s largest resource of independent energy experts and certification body, carried out a vendor’s technical due diligence on behalf of Kohlberg Kravis Roberts & Co. Partners LLP (KKR) for divestment purposes from a global portfolio of renewable energy assets, Acciona Energía Internacional, where KKR held a 33.33% stake and with Acciona S.A. as majority shareholder. The portfolio consists of 49 wind farms, two solar PV plants and one concentrated solar power plant, all in operation, located across eleven countries and totaling around 2.5 GW of installed capacity. Acting as a technical advisor throughout the transaction phase, DNV GL’s team of experts ensured a quick and experienced assessment of the project’s risks and opportunities. The scope included the assessment and review of aspects such as energy production, technology, operation and maintenance arrangements, historical performance and remaining lifetime.