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Week In MiddleEast: ACME, Yara And Scatec Sign Term Sheet For Sale Of Green Ammonia From Oman; Israel’s Kenlov Renewable Energy Launches Greek Presence With Application For 378MW Solar And Wind Development Pipeline; And More


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ACME, Yara and Scatec Sign Term Sheet for Sale of Green Ammonia from Oman

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ACME group (ACME) a pioneer in the cleantech sectors such as solar, green hydrogen and ammonia development, Scatec ASA (Scatec) a leading renewable power producer and Yara International ASA (Yara) a leading global ammonia player, have signed a term sheet for offtake from the first phase of green ammonia from Oman. Oman has excellent conditions for renewable energy and a strategic location to produce green ammonia for export to both Europe and Asia, which are the pacesetters in reducing CO2 emissions. ACME and Scatec are already evolving the green ammonia project in Oman. The joint venture aims at building a state-of-the-art facility. Yara is a front-runner in global ammonia production, logistics and trade and are growing the market for green ammonia that can be used for decarbonising other industries.

Israel’s Kenlov Renewable Energy Launches Greek Presence With Application For 378MW Solar And Wind Development Pipeline

Independent Power Producer Kenlov Renewable Energy (Kenlov) has formally launched its presence in the Greek renewable energy market, with a 378MW pipeline of wind and solar development projects currently in the process of securing power production licenses. This development pipeline spans nine individual projects. Three of these – totalling 223MW – will be developed by Kenlov’s growing in-house team under the leadership of newly appointed Greece Country Manager Giannis Lazarou, an industry stalwart with more than 15 years’ experience in developing, permitting and operating Greek renewables projects. The remaining 155MW of projects were originated by an established renewable energy developer in Greece, whose track record includes 45 solar and wind projects successfully developed with a variety of international partners, who will also take the projects forward under a development service agreement signed with Kenlov.

Nearly 92% Will Be Achieved By 2030 Through Renewable Energy Generation Projects In Middle Eastern Countries – Report

According to a Global Energy Monitor report, nearly 92% will be achieved by 2030 through renewable energy generation projects in Middle Eastern countries. Currently, these countries generate over 12 gigatonnes of solar and wind energy. The clean energy initiative of the Arab League promised to double the region’s renewable power generation capacity by 2030 from 12 gigatonnes to 80 gigatonnes. According to the report, Arab countries are building solar and wind power plants with a total capacity of 73.4 gigatonnes. This is almost five times the Middle East’s current renewable energy production capacity. These projects include 45 wind power plants as well as 114 solar power plants. According to the report, Egypt produced the most renewable energy in the region with 3.5 gigatonnes. Next came the UAE with 2.6 gigatonnes and Morocco with 1.9 gigatonnes. Jordan had 1.7 gigatonnes and Saudi Arabia 0.78 Gigatonnes.

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UAE Introduces New Methods Of Renewable Energy To Meet Its 30% Clean Energy Target By 2030, Says Report

The United Arab Emirates (UAE) currently relies on thermal power for most of its electricity supply and in 2021 this accounted for 92.6% of its total electricity generation. However, the country is looking to reduce its dependency on thermal power and move toward clean energy, found a recent report. According to the leading data and analytics company, the country is aiming to meet 30% of its power needs using clean energy by 2030. The report reveals that the UAE is working to introduce pumped hydro into the country’s power mix. This is expected to start with the Al Hattawi pumped storage plant when it begins commercial operations in 2026. The project is being designed to use and store water from the existing Hatta dam for generating electricity during peak demand periods. The project was launched as part of the Dubai Clean Energy Strategy 2050, which aims for three-quarters of the UAE’s total power output to be from clean energy sources by 2050.

Yemen Government Is Looking At Building Solar Power Plants That Can Produce Up To 20 Megawatts

Anwar Kalshat, Yemen’s electricity minister, stated that the government is looking at building solar power plants that can produce up to 20 megawatts. Kalshat stated that the war-torn nation will receive support from Saudi Arabia in the amount of USD 200 million. This is to ensure the fuel required to run power plants during the higher summer demand. Kalshat stated that Yemen planned to build solar plants with capacities ranging from 10 MW to 20MW, and even up to 70MW in a previous interview. The Arab country launched a tender in 2020 to find a contractor, but the bids submitted by local firms were too expensive compared to other nations in the region.

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Israel Approves The Rules And Provisions For Utilizing Renewable Electricity Power Plants Built By Industries

The Minister of Energy announced the rules and provisions to utilize renewable electricity power plants built by industries as self-supply. According to the Public Relations and International Affairs of Satba: In order to accelerate the development of renewable and clean power plants and to make maximum use of existing capacities for helping to eliminate the problems caused by the lack of electricity generation during peak hours, the Minister of Energy declared the rules and criteria for benefiting renewable electricity power plants built by industries and investors as self-supply to Renewable Energy and Energy Efficiency Organization (SATBA), Electricity Generation Management Company and Iran Power Generation, Transmission and Distribution Management Company (Tavanir). According to this approval, SATBA is responsible to issue a construction permit to the applicant industries that intend to supply all or part of the required electricity through the construction of renewable and clean power plants.

EBRD Holds Green Hydrogen Roundtable Discussion With SCZONE And International Companies

The Suez Canal Economic Zone (SCZONE) hosted a round table discussion in coordination with the European Bank for Reconstruction and Development (EBRD), the Ministry of Electricity, and the Sovereign Fund of Egypt (TSFE) within a series of periodic meetings to discuss the frameworks and policies for establishing green fuel projects in Sokhna integrated zone and to discuss the related technical and legal studies. The meeting held in the presence of Eng Yehia Zaki, SCZONE’s Chairman, Dr Heike Harmgart, Managing Director of the European Bank for the Southern and Eastern Mediterranean (SEMED), a representative of the New and Renewable Energy Authority (NREA), representatives of the Ministry of International Cooperation, a number of senior EBRD officials and heads of companies which SCZONE signed MOUs in the first quarter of this year.

Renewable Power Remains Cost-Competitive Amid Fossil Fuel Crisis: IRENA

Costs for renewables continued to fall in 2021 as supply chain challenges and rising commodity prices have yet to show their full impact on project costs. The cost of electricity from onshore wind fell by 15%, offshore wind by 13% and solar PV by 13% compared to 2020. Renewable Power Generation Costs in 2021, published by the International Renewable Energy Agency (IRENA), shows that almost two-thirds of 163 gigawatts (GW) of newly installed renewable power in 2021 had lower costs than the world’s cheapest coal-fired option in the G20. IRENA estimates that, given the current high fossil fuel prices, the renewable power added in 2021 saves around USD 55 billion from global energy generation costs in 2022.

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UAE Is Emerging As Clean Energy Investor In The World- Report

According to a Wall Street Journal report, the UAE is now one of the largest state financiers of clean energy and is seeking to be as influential in renewables as it is in oil or gas. According to the report, while the UAE is focusing on renewables, it “also remains a major investor in traditional oil & gas.” The UAE has announced that it will finance the development of thousands upon megawatts of solar energy projects across the globe since November when the global nations agreed to boost their emissions-cutting goals during a United Nations summit. According to the WSJ, it has pledged to provide clean electricity by 2035 to 100 million Africans and committed $400 million to assist developing countries in their transition to renewable energy. Along with the US, the Gulf state has also promised $4 billion to fund technologies that transform agriculture and food production in order to combat climate change.

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