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HSBC Bahrain Invests In Its Second Solar Carport
HSBC Bahrain inaugurates its second solar carport in Bahrain at the Adliya branch. This will help in saving around 20 Kw/h of energy consumption of the bank alongside the already existing Seef Head Office solar carport. The solar carport was inaugurated under the presence of Abdul-Hussain bin Ali Mirza, Chairman of the Sustainable Energy Authority, Abdul Fattah Sharaf, CEO of HSBC Bank UAE, Head of International Markets at HSBC Bank Middle East, and Chris Hutton, COO of HSBC Bank Middle East Africa and Chris Russell, CEO of HSBC Bank Bahrain.
Saudi Aramco Wants To Invest In Reliance
Saudi Aramco wants to invest in Reliance Industries Ltd. New Energy Solar Ltd. is the clean energy unit where Saudi Aramco and other investors want to invest. “Reliance plans to get investors in its renewable energy business. While many investors are excited about this opportunity, Aramco is also said to be evaluating the same,” a statement said. Saudi Aramco is one of the world’s biggest oil companies based out of Saudi Arabia. Earlier, Both the companies scrapped a $15 billion deal in India’s Reliance oil-to-chemicals (O2C).
thyssenkrupp Signs Contract To Install 2 GW Electrolysis Plant In NEOM
Air Products has awarded thyssenkrupp Uhde Chlorine Engineers a contract to supply a more than two-gigawatt (2 GW) electrolysis plant for one of the world’s largest green hydrogen projects at NEOM in Saudi Arabia. Under this contract, thyssenkrupp will engineer, procure and fabricate the plant based on their large-scale 20 megawatts (MW) alkaline water electrolysis module. Upon commissioning, the project partners – NEOM, ACWA Power, and Air Products (“NEOM Green Hydrogen Company”) – will operate the facility, which will produce hydrogen to be synthesized into carbon-free ammonia for export exclusively by Air Products to global markets. Engineering and procurement activities have been initiated, and the start of production is scheduled for 2026.
Energy Storage Solutions Key To Achieve RE Targets Of MENA
According to the Arab Petroleum Investments Corporation’s (APICORP) latest report ‘Leveraging Energy Storage Systems In MENA,’ MENA countries must rapidly scale up and integrate variable renewable energy (VRE) – such as solar PV and onshore wind – into their respective power grids if they are to meet their national renewable energy targets in the medium term. Scaling up renewables requires the deployment of energy storage solutions (ESS) for firming the power capacity, building flexibility, and ensuring the power system’s stability. ESS also plays a critical role in managing intermittencies of VREs and in mitigating potential power supply disruptions while providing ancillary services.
Dubai Reduces 33% Of Carbon Emissions In 2020
HE Saeed Mohammed Al Tayer, Vice Chairman of the Dubai Supreme Council of Energy, announced that Dubai reduced its carbon emissions by 33% in 2020, exceeding the target of the Dubai Carbon Abatement Strategy 2021 by more than double. The strategy aims to reduce carbon emissions by 16% by 2021. This new achievement emphasizes that Dubai is moving steadily towards becoming a carbon-neutral economy by 2050. Al Tayer explained that the pioneering programmes and initiatives implemented by the organizations under the umbrella of the Dubai Supreme Council of Energy have contributed to this significant reduction in carbon emission.
S&P Global Deploys First Carbon Neutral Hydrogen Assessment, Enabling Pricing
S&P Global Platts (Platts), the world’s premier independent source of commodities and energy market information, analytics, and benchmark pricing, has developed the world’s first suite of Carbon Neutral Hydrogen (CNH) assessments, which went into force on December 9, 2021. The Platts CNH estimate indicates the carbon-neutral value of hydrogen as it leaves the production facility in important hubs in the Middle East, Northwest Europe, Far East Asia, Australia, the US Gulf Coast, and California.
Kuwait Receives An Offer For 5000 MW Solar Plant
Kuwait has got an offer to construct a solar plant worth $3.5 billion from private investors. The capacity of the project is 5000 MW and it is situated in North Kuwait. Currently, the solar plant proposal is being studied by the Kuwait Authority for Partnership Projects (KAPP) and the proposal was received by the Electricity, Water, and Renewable Energy Ministry, the paper said. According to a report, “A group of private developers made the offer to the cabinet which referred it to the Ministry…the proposal is now under consideration by KAPP.” The project will be funded with loans from foreign and local sources after being approved by the government and the KAPP.