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Week In Middle East: Fasset, SirajPower, And Creek Capital Partners For Energy Transition In Middle East Region; And More

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Fasset, SirajPower, And Creek Capital Partners For Energy Transition In Middle East Region

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Fasset, a digital asset gateway and provider of real-world asset tokens, regulated in multiple jurisdictions including the Dubai Multi Commodities Centre (DMMC) has announced a strategic cooperation with Creek Capital, a Dubai Financial Services Authority (DFSA) regulated asset manager, recognised for its pioneering investments into the Energy Transition in the Middle East region. This strategic initiative will include working closely with SirajPower, a portfolio company of Creek, which is one of the largest solar distributed generation players in the region. As part of this collaboration, they have signed a Memorandum of Understanding (MOU) to accelerate the growth of the solar industry in the Middle East through the introduction of an alternative and innovative investment solution for sustainable power assets.

Masdar Signs Two Agreements To Develop 4 GW-Capacity Green Hydrogen Plants In Egypt By 2030

Masdar, one of the world’s leading renewable energy companies, and Hassan Allam Utilities, the investment and development arm of Hassan Allam Holding Group, announced that they have signed two Memorandums of Understanding with leading Egyptian state-backed organizations to cooperate on the development of green hydrogen production plants in the Suez Canal Economic Zone and on the Mediterranean coast. The Memorandums of Understanding were signed in the presence of His Excellency Mostafa Kamal Madbouly, Prime Minister of the Arab Republic of Egypt, His Excellency Dr Sultan bin Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology, Special Envoy for Climate Change and Chairman of Masdar, His Excellency Dr Mohamed Shaker El-Markabi, Minister of Electricity and Renewable Energy for Egypt, and Her Excellency Dr Hala El Said, Minister of Planning and Economic Development and Chairperson of The Sovereign Fund of Egypt.

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GoodWe Became The Preferred Inverter Brand For The “Most Powerful Solar Power Output From A Sports Stadium” Project, Which Entered The Guinness Book of Records

The solar power plant installed on the roof of the Ali Sami Yen Sports Complex Nef Stadium by Enerjisa Enerji in Istanbul, Turkey, received the Guinness World Records title ”most powerful solar power output from a sports stadium” in terms of installed capacity and went down in history. The solar power plant installed on the roof of the Ali Sami Yen Sports Complex Nef Stadium by Enerjisa Enerji, the pioneering and leading company in the electricity distribution and retail sector in Turkey, and Galatasaray, the team of the firsts and the bests, has begun generating energy.

Egypt With AMEA Power To Produce Green Ammonia

Prime Minister Dr Mostafa Madbouly witnessed the signing ceremony for 2 Memoranda of Understanding. The first MOU is among the General Authority of Suez Canal Economic Zone (SCZONE), the Sovereign Fund of Egypt, the Egyptian Electricity Transmission Company, the Authority of New and Renewable Energy, and EDF Renewables and Zero-Weste Egypt Alliance. The second MOU is among the Egyptian government parties and AMEA Power UAE which is affiliated with the Al Nowais Group. The Memoranda of Understanding are aiming to establish projects to produce green fuel and green ammonia in the Sokhna. The signing ceremony is held in the presence of Dr Mohamed Shaker Al-Marqabi, Minister of Electricity and Renewable Energy, and Dr Hala Al-Saeed, Minister of Planning and Economic Development.

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Silent Power To Supply Solar Powered Products To UAE And Kuwait

Silent Power signed contracts with UAE and Kuwait to boost the expansion process for the company. The company will use solar energy for cooling products in water tanks and reduce the temperature of water from 62C to 28-33C. This product is powered by solar energy with no battery usage. The company is working to empower sustainable energy in the Middle East region. Mohamed Abdulaal, Founder and CEO of Silent Power said, “Our goal continues to launch innovative, eco-friendly solutions from Bahrain to the rest of the world, one household at a time. Since the investment round, our partners have supported us immensely in gaining new opportunities and making strategic decisions which support in achieving the company’s long-term goals.”

Scatec Refinances Six Solar Power Plants In Egypt With A Green Project Bond

Scatec, a leading renewable energy solutions provider, and its partners have refinanced the non-recourse project debt for six solar power plants in Egypt, with a total capacity of 380 megawatts (MW), through the issuance of a 19-year USD 334.5 million non-recourse Green Project Bond. The refinancing will provide increased leverage, extended tenor, and reduced interest costs which will improve Scatec’s and its project partner’s future cash distributions from the power plants.

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