Week in Middle East: ACWA Power Sells Its Stake In Bulgaria’s 60 MW PV Power Plant, Kent College Dubai Goes Solar With Sirajpower, ADFD Funds $ 15 Million Solar Project in Cuba and more

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ACWA Power Sells Its Stake In Bulgaria’s 60 MW Photovoltaic Power Plant

ACF Renewable Energy Limited, a subsidiary of ACWA Power has completed a sale of its 100% stake in ACWA Power CF Karad PV Park EAD (“ACWA Power Karad”), owner of the 60.4 MWp Karadzhalovo photovoltaic (PV) power plant in Bulgaria to Enery Development GmbH, an Austrian investor and project developer in the renewable energy sector for an undisclosed consideration. Furthermore, ACWA Power’s subsidiary NOMAC Limited, has also completed the sale of its 100% stake in NOMAC Bulgaria, a company providing Operations & Maintenance (O&M) services to the ACWA Power Karad plant, to Enery Development GmbH for an undisclosed consideration. Both transactions follow the signing of a binding agreement back in December 2019 and constitute the largest brownfield PV deal in Bulgaria to date. The Karadzhalovo power plant, which is the largest single-site PV plant in Bulgaria, generated 85.56 GWh of carbon-neutral energy in 2019.

Kent College Dubai Goes Solar With Sirajpower And Contributes To Educate the Next Generation on Sustainability

UAE’s leading distributed solar energy provider, SirajPower, announced it has signed a partnership with Kent College Dubai to install a solar rooftop plant and solar carport of 1.3 MWp system capacity, generating 2.3 GWh of annual energy production and displacing approximately 1,600 metric tons of CO2 per annum which also corresponds to 200 million smartphones being charged. The school is SirajPower’s first project in the education sector and currently the largest in scale in Dubai. The initiative supports the school’s effort to promote education on sustainable development and is also in line with the UAE’s vision to empower youth and build sustainability awareness. Education is one of the UAE Government’s top priorities in its endeavour to develop its human capital and a diversified knowledge-based economy. Recent reports also ranked the UAE among the top countries to take a leadership role in education for sustainable development to create sustainability citizens.

ADFD Funds $15 Million; 10 MW Solar Plant Gets Capacity Boost to 15 MW

The 10-megawatt solar photovoltaic plant, which was inaugurated in Cuba last year, has recently received a capacity boost to 15 MW. The grid-connected project, financed by Abu Dhabi Fund for Development (ADFD), one of Abu Dhabi’s leading financial institutions, currently supplies enough electricity for an estimated 10,000 homes. The funding is part of ADFD’s commitment of US$350 million to support renewable energy uptake in developing countries through seven annual selection and funding cycles, starting in 2013. The Fund has allocated $20 million towards this project under the seventh cycle of the IRENA/ADFD Facility. The Fund’s keenness to promote renewable energy stems from its policy to support international efforts to help developing countries achieve energy priorities, as well as from its commitment to advancing the United Nations’ Sustainable Development Goals though infrastructure projects in diverse sectors. The Fund has so far financed 78 renewable energy projects, whose total value stands at US$1.2 billion (AED4.4 billion). These initiatives, spread across 62 countries, have transformed millions of lives.

DEWA Receives Registration Requests for WETEX And DSS 2020

Dubai Electricity and Water Authority (DEWA) has started receiving registration requests from exhibitors, companies and visitors for the 22nd Water, Energy, Technology, and Environment Exhibition (WETEX) and the 5th Dubai Solar Show (DSS). DEWA is organising WETEX and DSS this year virtually online. It provides a one-of-a-kind opportunity to reach more visitors worldwide. The 3D WETEX and DSS are the first of their kind in the Middle East and North Africa, and will provide a new experience for exhibitors and visitors from around the world. They will enable exhibitors to display their products innovatively through 3D customisable stands to suit each company’s needs. They also will enable meetings, seminars, and workshops using the latest smart technologies.

Tadweer Opens Phase Two Solar Sower Plant At Al Dhafra C&D Waste Recycling Facility

The Abu Dhabi Waste Management Center (Tadweer) announced the opening of the second phase of the solar power plant project at the Construction and Demolition Waste Recycling Facility in Al Dhafra region of Abu Dhabi. Aimed at lowering the facility’s carbon footprint, Al Dhafra C&D Waste Recycling Facility, the first of its kind in the world to be 90% solar-powered, is aligned with the country’s ambitious plans to mitigate climate change including the UAE Green Agenda Programs (2015-2030) and the National Climate Change Plan of the UAE (2017–2050). With completion of the second phase, Tadweer, in close coordination with the investor of Al Dhafra C&D Waste Recycling Facility, has significantly enhanced the facility’s solar energy utilization by increasing its capacity to 600 kilowatts per hour, up by 350 kilowatts per hour.

SEC Signs SR9 billion Financing Agreement With 7 Banks

Saudi Electricity Company (SEC), the largest utility company in the Middle East and North Africa region, signed a syndicated financing agreement worth SR9 billion with seven major local banks. The financing is a 7-year medium-term facility and is unsecured syndicated borrowing. It is funded by the National Commercial Bank, Bank Albilad, Al-Rajhi Bank, Riyad Bank, Samba Financial Group, Banque Saudi Fransi and the Saudi British Bank. “SEC is a national utility, delivering electric services to a growing customer base of almost 9.8 million subscribers in Saudi Arabia. Our vigorous focus is to continue demonstrating operational efficiency improvement, achieve a quantum leap in promoting automation and digitization across our business and further enhance the customer service.”, Fahad Al-Sudairi, president and chief executive of SEC, said.

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