EWEC Invites Expression of Interest Submissions for Development of Al Ajban Solar PV Independent Power Project
EWEC (Emirates Water and Electricity Company), a leading company in the integrated coordination of planning, purchasing and supply of water and electricity across the UAE, today invited developers or developer consortiums to submit an Expression of Interest (EOI) for the development of a new Solar Photovoltaic (PV) Independent Power Project to be located in the Ajban area of the Emirate of Abu Dhabi. Following the successful closings of Noor Abu Dhabi and Al Dhafra Solar PV, Al Ajban Solar PV is the third world leading large scale utility solar PV project developed by EWEC.
Renewable Energy Projects Of Egypt Under Development Reaches 3,570 MW Capacity
According to the New and Renewable Energy Authority (NREA) of Egypt, during the third quarter of the financial year 2021-22, the renewable energy projects of the country under development reached 3,570 MW. The foreign direct investments for the projects were $3.5 billion. Only 22% of these renewable projects are from solar power plants and the rest 78% are from wind power plants. A 50 MW solar power plant is about to be completed in the Zafarana area and the project is worth EGP 700m. This project is anticipated to start operation in the third quarter of 2022. According to a report, during the third quarter of 2021-22, solar cells connected to the grid accounted for 949 GW/h. 2.25 million tonnes of carbon dioxide were reduced during the same fiscal year from all the renewable energy sources.
EBRD To Lend US$ 4.8 Million To Intro Sustainable Resources And Intro Solar S.A.E. In Egypt
The European Bank for Reconstruction and Development is lending up to US$ 4.8 million to Intro Sustainable Resources and Intro Solar S.A.E. in Egypt. Intro-SR will receive the loan to finance its equity stake in a portfolio that focuses on energy efficiency, waste-to-energy, and solar photovoltaic projects. One of the projects is the first private-to–private energy generation project in Egypt. It aims to promote resource consumption efficiency. Intro-SR was founded in Dubai International Financial Centre in 2020 to develop energy management, renewable energy, and other waste management projects. Intro Investments Holding Ltd., established in 2016, owns it. Egypt was a founding member of the EBRD. The EBRD has made investments in 144 projects in the country since 2012 when it began operations.
World Bank To Increase Partnership With Egypt In Renewable Energy Sector
Officials of the World Bank (WB) meet the Minister of Electricity and Renewable Energy of Egypt, Mohamed Shaker and discuss cooperation in the renewable energy sector. The partnerships will ensure the transition to a green economy and enhanced participation of the private sector in the process of development. World Bank plans to increase the partnership with Jordan related to green hydrogen and renewable energy in order to reduce carbon emissions. Since 2014, the country has implemented clear and strong plans to meet the challenges in the energy sector. The National Sustainable Energy Strategy of Egypt targets to have 42% of the energy generated from renewable sources in its energy mix by 2035.