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Week in Middle East: EDF To Develop RE Projects of Around 5 GWs in UAE; ACWA Power Inaugurates Ibri 2 PV IPP in Oman and More

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EDF To Develop RE Projects of Around 5 GWs in UAE

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EDF is planning to grow its renewable energy developments in UAE and Saudi Arabia by 5 GWs capacity. EDF Renewables is the global renewable energy affiliate of the Group. The company develops, builds, and operates renewable power plants. Olivier Bordes, EDF Renewables Middle East’s CEO, and Managing Director said, “The Middle East is a strategic area for EDF Renewables, and ultimately for EDF Group. We have currently secured 4 GW of projects in the Middle East and Africa, and the region has a pipeline of five additional GW to come.” Currently, EDF has 14 GW of renewable energy (both wind and solar) worldwide and the Middle East is one of the largest contributors of the company. The company has some projects ongoing including the Dhafra PV2 solar plant in Abu Dhabi with a 2 GW power capacity which is the largest single-site PV project in the world and a 300 MW capacity PV plant in Jeddah.

ACWA Power Inaugurates Ibri 2 PV IPP in Oman

Under the patronage of His Excellency Sayyid Hamoud bin Faisal al Busaidi, Omani Minister of Interior, and in the presence of His Excellency Eng. Khalid bin Abdulaziz Al-Falih, Saudi Minister of Investment, a consortium consisting of ACWA Power – a leading developer, investor, and operator of power generation, desalinated water, and green hydrogen plants – Gulf Investment Corporation (“GIC”), and Alternative Energy Projects Co. (“AEPC”), inaugurated Ibri 2, the first solar independent power project (IPP) to be launched under the country’s national renewable energy programme and connected to the main national grid. The consortium will produce renewable energy over a 15-year period for the Oman Power and Water Procurement Company (OPWP). The project is a significant step towards achieving the Oman 2040 Vision, which includes 20% of renewable energy production by 2030 and up to 39% by 2040, as well as protecting natural resources in the Sultanate. Ibri 2 also represents a robust partnership between the public and private sectors and embodies another example of the Sultanate’s ability to attract foreign direct investment within the framework of a clear and transparent legal, legislative, and regulatory environment under the umbrella of the Omani Power Sector Regulation and Privatisation Law.

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Masdar and W Solar Investment To Develop RE Projects

Masdar, one of the world’s leading renewable energy companies, and W Solar Investment, a subsidiary of Alpha Dhabi Holding, and a development and investment company in the solar energy industry, have formed a joint venture company (JVC) to develop clean energy projects in a range of geographies. The new company, MW Energy Limited, will act as a development platform, focusing initially on a pre-identified pipeline of projects, while also exploring new opportunities under the guidance of both owners. Abu Dhabi-based Chimera Capital advised W Solar on the JVC. The shareholder agreement establishing the JVC was signed by Mohamed Jameel Al Ramahi, Chief Executive Officer of Masdar, and Syed Basar Shueb, Vice Chairman of Alpha Dhabi Holding, at a ceremony held recently in Masdar City.

TotalEnergies Joins Masdar And Siemens Energy For Green Hydrogen

Masdar, one of the world’s leading renewable energy companies, announced that TotalEnergies is adding its expertise in the energy sector to a Masdar-led initiative focused on green hydrogen to produce sustainable aviation fuel (SAF). Senior executives from Masdar, Siemens Energy, and TotalEnergies signed a collaboration agreement on the sidelines of Abu Dhabi Sustainability Week (ADSW) 2022, to act as co-developers for a demonstrator plant project, which will be established at Masdar City, Abu Dhabi’s flagship sustainable urban development. The agreement was signed by Francois Good, Senior Vice President, Refining and Petrochemicals Africa Middle East and Asia at TotalEnergies, Dietmar Siersdorfer, Managing Director Middle East and UAE, Siemens Energy, and Mohamed Jameel Al Ramahi, Chief Executive Officer of Masdar. By leveraging their respective areas of expertise across the energy spectrum, and their local and global market reach, the co-developers believe that the demonstrator project can pave the way to commercial production of SAF, helping to reduce production costs and making it commercially viable.

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Aldar Enters Agreement with EWEC To Adopt Clen Energy

Aldar Properties (‘Aldar’) has entered a clean energy agreement with Emirates Water and Electricity Company (EWEC), a leading company in the integrated coordination of planning, purchasing, and supply of water and electricity across the UAE. Through the agreement, 100 percent of Aldar’s owned and managed operating assets will be powered by EWEC’s clean energy sources for up to five years in a move that aims to promote the adoption of clean energy and support the expansion of decarbonization in the real estate sector. At present, scope 2 emissions, associated with the purchase of electricity from the grid, represent the largest source of greenhouse gas emissions at Aldar’s real estate assets and this agreement will reduce those emissions and support decarbonization across the company’s portfolio. The clean energy, which will be supplied to Aldar’s assets from EWEC’s clean energy sources, will be validated via Clean Energy Certificates registered by EWEC, a scheme that was launched by the Abu Dhabi Department of Energy to enable Abu Dhabi companies to validate claims of producing and consuming renewable or clean electricity as part of their efforts to achieve sustainability goals. EWEC is one of the key parties enabling the implementation of Abu Dhabi’s Clean Energy Certificate scheme, acting as a Single Registrant and auction operator to establish a primary market for this new instrument, conducting auctions every quarter that any organization can participate in.

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Masdar Sings Agreement with Cosmo energy For RE Projects in Japan

Masdar, one of the world’s leading renewable energy companies, announced that it has signed an agreement with Cosmo Energy Holdings Co., one of Japan’s largest energy companies, to explore the development of renewable energy initiatives, including offshore wind projects, in Japan. The Memorandum of Understanding (MoU) was signed by Hiroshi Kiriyama, Representative Director and Group Chief Executive Officer of Cosmo Energy Holdings Co, and Mohamed Jameel Al Ramahi, CEO of Masdar, in a virtual ceremony during Abu Dhabi Sustainability Week (ADSW) 2022, taking place in the UAE capital. The MoU envisages Masdar and Cosmo Energy working together to develop offshore wind projects, which could support Japan’s targets of installing as much as 10 gigawatts (GW) of offshore wind power by 2030 and as much as 45 GW by 2040. The companies could also potentially work together in hydrogen and ammonia-related projects, alongside carbon capture and storage (CCS), carbon capture, utilization and storage (CCUS) solutions, battery storage technology, and energy trading activities. Japan, the world’s fifth-biggest emitter of carbon dioxide, is targeting net-zero emissions by 2050 and is increasing research and development in green technologies to achieve its objective.

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