ACWA Power, the utility developer, backed by Saudi Arabia’s Public Investment Fund (PIF), is planning to invest $16 billion in new projects worldwide in 2021, ahead of plans for an initial public offering (IPO), Arab News reports. Early last year, CEO Paddy Padmanathan said the company planned to invest $10 billion in new projects in […]
Dubai Electricity and Water Authority (DEWA) has completed 84.52% of the 829 megawatts (MW) 4th phase of the H-Station power plant in Al Aweer with investments totalling AED1.1 billion, WAM reports. This phase will increase the station’s total capacity to 2,825MW under climate conditions of up to 50° Celsius. The project is expected to be […]
Saudi Electricity Company (SEC) has agreed a $500 million green lending facility. The financing was guaranteed by the Japan Bank for International Cooperation (JBIC), to support SEC’s green projects across its transmission and distribution networks, the utility said in a stock exchange filing on July, 6. Several other Japanese banks participated in the 12-year facility, […]
World Future Energy Summit, part of Abu Dhabi Sustainability Week, has signed key stakeholder agreements with the Ministry of Energy and Infrastructure, Bee’ah and EDF Renewables, WAM reports. The event, which provides a platform to showcase clean energy and sustainable projects, initiatives, and developments for the Middle East – will be held in Abu Dhabi’s […]
The Iraqi Ministry of Oil plans to attract a contractor to invest in Akkas gas field, to produce 4,000 million cubic feet of gas by 2025, representing 90% of Iraq’s need for electric power production, said Minister Ihsan Abdul Jabbar for Arab News. Iraq will need more gas for electric power by 2030 to keep […]
The Global Manufacturing and Industrialization Summit (GMIS) has today announced that its fourth edition (GMIS2021) would invite global leaders to the United Arab Emirates to spearhead discussions on the future of the US$6.8 trillion global digital transformations. The GMIS2021 agenda will spotlight the importance of data intelligence and connectivity, highlighting the evolving integration of humans […]
The Gulf of Mexico is on fire, set on fire by another oil and gas corporation. This time it’s Mexican. Natural gas is burning. Such surrealistic paintings bring us closer to extinction, and it’s speeding up. Mexico’s state-owned oil company said on June, 2 it suffered a rupture in an undersea gas pipeline in the […]
Renewable energy sources (RES) stations to appear in 2020 will reduce the cost of the electricity sector by at least $ 6 billion. It means that renewable energy continues to spread across the planet, despite the pandemic, and is becoming cheaper. Nearly two-thirds of solar and wind power plants built in 2020 produce electricity that […]
Iraq is in talks with Masdar to implement solar energy projects targeting an electricity capacity of up to 2 gigawatts, Oil Minister Ihsan Abdul Jabbar told Asharq Business, Arab News reports. There are also discussions with Saudi ACWA Power, to implement renewable energy projects, he added. “It is expected to sign contracts for renewable energy […]
Despite concerted efforts to move away from oil and gas resources as the mainstay of their economies, Oman and its peers in the Gulf Cooperation Council (GCC) will continue to remain dependent on hydrocarbons over the foreseeable future, according to a key report by Moody’s Investor Service. Moody’s warned in its report that Gulf states’ […]
