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Week In Middle East: IHC invests Rs 15,400 Crore in Adani Group Firms; Imerys Al Zayani Bahrain, Yellow Door Energy And Midal Solar Partner On Solar PPA; And More

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Abu Dhabi’s IHC invests Rs 15,400 Crore in Adani Group Firms

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Abu Dhabi’s International Holding Company PJSC (IHC) has invested Rs 15,400 crore (USD 2 billion) as primary capital in three Adani portfolio companies — Adani Green Energy Ltd (AGEL), Adani Transmission Ltd (ATL) and Adani Enterprises Ltd (AEL). IHC has invested Rs 3,850 crore each in AGEL and ATL and Rs 7,700 crore in AEL, the Indian conglomerate said on Tuesday. Abu Dhabi-based global strategic investment company IHC has completed “a Rs 15,400 crore investment transaction in the Adani portfolio companies, AGEL, ATL and AEL,” the Adani Group said in a statement. IHC provided capital to the three firms through the preferential allotment route.

Imerys Al Zayani Bahrain, Yellow Door Energy And Midal Solar Partner On Solar PPA

Imerys, the world leader in mineral-based speciality solutions for industry, is partnering with Yellow Door Energy, the leading sustainable provider for businesses in the Middle East and Pakistan, to install over 8,500 solar panels at its white fused alumina production plant in Bahrain. This alumina plant is operated by Imerys and Bahraini partner Al Zayani Industries. Covering an area of 25,000 square meters, the solar plant will be connected to Imerys Al Zayani’s internal distribution network. It will have a capacity of 4,677 kWp and will generate 7,600 megawatt-hours of clean electricity in the first year of operation.

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SCZONE Discusses Various Investments In Green Hydrogen Projects During EBRD Forum

Eng. Yehia Zaki, chairman of the Suez Canal Economic Zone (SCZONE), participated in the annual meeting of the European Bank for Reconstruction and Development (EBRD) and the Bank’s business forum, which was held in Morocco to highlight Egypt’s efforts to attract various investments in clean energy projects, as SCZONE succeeded in attracting international and leading companies which are working in the fields of clean and renewable energy to establish this kind of projects in the affiliated industrial zones.

Masdar Partners With National Petroleum Construction Company For Exploring Green Hydrogen Production Opportunities

Masdar, Abu Dhabi’s renewable energy company, has entered into a partnership with the National Petroleum Construction Company (NPCC) for exploring green hydrogen and offshore wind production opportunities. According to the statement, the memorandum of understanding is anticipated to help UAE’s efforts for a clean energy transition. It also includes partnering in other renewable energy technologies such as battery storage.

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Lebanon Grants Licenses To 11 Companies To Build Solar Plants Of 15 Megawatts Capacity Each

The energy minister of Lebanon, Walid Fayyad announced that 11 companies have been granted licences to build solar plants capable of generating 15 megawatts each. Minister said that the companies will have one year for securing the funding applicable for both local and international companies. Since 1990, Lebanon has been experiencing constant power outages after a 15-year civil conflict that ended in 1990. Many families have had to rely on private generators and the state’s electricity infrastructure. Lebanon’s government was unable to run its power plants and subsidize fuel imports due to the economic crisis. These stations could only partially meet the energy needs of Lebanon, which exceeds 3,000 MW.

Israel To Test AI-Based Floating System For Clean Energy Generation

The Finance Ministry of Israel together with the Israel Innovation Authority (IIA), announced a joint project to test an artificial intelligence (AI) based floating system for producing electricity by following the sun. The solar pilot project will be conducted in partnership with Xfloat, an Israeli company which developed the system. This photovoltaic system, which is floating on water reservoirs, can track and move the sun. It is based on machine learning capabilities, continuous refining of rich data acquisition, and optimized performance to maximize performance according to Xfloat.

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