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Week In Middle East: Amarenco Group Acquires 74% Stake In SolarizEgypt; Israel’s Econergy Forms 2 JVs To Develop RE Projects; And More

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Amarenco Group Acquires 74% Stake In SolarizEgypt

Amarenco Group acquires a 74% stake in SolarizEgypt. Both the companies together will develop a 300 MW capacity of assets with 4 billion EGP in 4 years duration. The joint venture is entitled “SolarizEgypt | Amarenco & Co.” Amarenco Group is a leading solar IPP active in Europe, the Middle East, and Asia-Pacific. The company design, develop, finance, acquire, build and operate medium to large scale solar photovoltaic infrastructures and have completed more than 2,000 projects to date. Amarenco Group is also implementing the largest storage project in Europe and bringing energy production and consumption closer through the digital development of short supply circuits.

Israel’s Econergy Forms 2 JVs To Develop RE Projects

Econergy Renewable Energy has formed two joint ventures to develop renewable energy projects in Romania and Poland. Econergy currently has 6 GW of ongoing projects in Europe. Econergy is an international IPP (independent power producer) of utility-scale renewable energy projects. The company formed joint ventures with Phoenix Insurance of Israel and RGreen Invest of French with an investment of 200 million euros ($227 million). Phoenix Insurance will invest 150 million euros in Econergy to support the company’s renewable projects in Poland and Romania construction of which will start this year.

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Mohammed bin Rashid Al Maktoum Solar Park Gets 30% Boost In Production Capacity

Mohammed bin Rashid Al Maktoum Solar Park of Dubai gets the latest solar tracking technology which will boost the capacity of production by 30%. The technology is TrueCapture which uses advanced sensors and machine learning to get maximum results. The fifth phase of Dubai’s solar park with 900 MW capacity uses photovoltaic bifacial technology. This technology helps solar radiation reach both at front and back of the solar panels and hence collects sunlight from both ends. The new solar tracking technology includes integrating machine learning and artificial intelligence that enables solar panels to get more energy.

Oman Ranks 3rd In Energy Transition In MENA Region

According to the latest report, Oman was ranked 3rd in the renewable energy transition in the Middle East and North Africa (MENA) region, 15th within emerging economies, and 38th in the world. The report gathered information on 136 global markets out of which 29 were developed countries and 107 were emerging markets. In MENA, UAE was 6th, Saudi Arabia was 16th, Qatar was 36th, and Kuwait was 47th. Bahrain was not included. The top 5 nations were Namibia, Jordan, Nigeria, Oman, and South Africa. Oman is working on adopting new strategies to use renewable energy and reduce carbon emissions. Oman launched its Oman Vision 2040 which aims to reach 39% of the total energy supply by 2040.

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Siemens And Desert Technologies Launches Solar And Smart Infrastructure Development And Investment Platform, Capton Energy

Siemens and Desert Technologies have launched a joint venture to develop and invest in solar and smart infrastructure in Africa, the Middle East, and Asia, as announced at Expo 2020 Dubai. The venture, Capton Energy – which aims to build up a portfolio of investments in projects with an aggregate capacity of more than 1 gigawatts (GW) – will support projects providing clean, reliable, and affordable energy in areas that need it most. Desert Technologies is a solar PV and smart infrastructure holding company focused on manufacturing and sustainable investments. Based in Jeddah, the company has completed more than 40 solar projects in 22 countries.

Ecoppia Signs A First-Ever Hybrid Project Of 400MW With Market Leader Azure Power, Featuring Multiple Robotic Solutions On One site

Ecoppia, the world’s leader in robotic cleaning solutions for photovoltaic solar, announced today another significant milestone with
the first-ever hybrid project of 400MW with renowned energy player, Azure Power. This complex project, combined with two types of installations – fixed tilt and Single Axis Trackers (SAT), along with challenging terrains and varied structures, is another exemplification of Ecoppia’s wide capabilities to tailor a long-term and cost-effective solution for leading energy players. The robotics’ deployment, expected to commence in the first half of 2022, will feature Ecoppia’s full product suit – the E4, the T4 as well as Ecoppia’s latest addition – the Ecoppia H4-powered by the patented Helix Technology.

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