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Saudi Arabian developer ACWA Power has set its sights on an accelerated growth trajectory after China’s Silk Road Fund completed the purchase of a minority stake in the firm’s renewables arm.
Some of the Middle East’s biggest oil producers are pushing into solar energy even amid the rout in crude prices
Spanish infrastructure firm Acciona has won a $500m contract from the state-owned Saline Water Conversion Corporation (SWCC) for one of Saudi Arabia’s largest desalination plants. It will use reverse-osmosis technology to provide drinking water to 3 million people.
Gulf energy companies are leading the way in one of the world’s newest markets for renewable energy, with Saudi and UAE firms picking up the first contracts to develop solar power projects in Uzbekistan.
The Renewable Energy Project Development Office has prequalified 49 developers for the tender. Four large-scale solar projects will be built via the procurement exercise.
The plant will displace approximately 77,600 tons of CO2 annually, equivalent to taking 27,700 cars off the road per year.
Saudi Arabia plans to develop a second wind independent power producer (IPP) project in Yanbu.
The agreements include the construction of a 1,500MW Combined Cycle Gas-Turbine power plant and a 500-1000MW wind farm
Saudi Arabia's Acwa Power has won bids to develop two solar schemes in Ethiopia with a total capacity of 250 megawatts, marking its entry in the African country.
Saudi Arabia's non-oil economic growth accelerated at the fastest pace in four years in the second quarter of the year, as the Arab world’s biggest economy shook off the shock impact of an austerity drive that followed the sharp drop in oil prices in 2014 .
The submission of two tariffs below $1.8 cents a kilowatt-hour (kWh) for the fifth phase of Dubai’s Mohammed bin Rashid (MBR) renewable energy park marks the latest world record to be set by the Gulf’s burgeoning solar market.
Wind and solar energy are now the cheapest forms of power in two-thirds of the world, according to data compiled by BloombergNEF, but there remains a great divide between the wealthy and developing nations.
A Saudi Arabian firm, ACWA Power, has won a USD 300 million worth solar Public Venture (PV) contract, becoming the first private company to win a mega project under the Public Private Partnership (PPP), after the PPP Board of Ethiopia approved the bid summited by the firm.
Italian contractor Saipem has signed a memorandum of understanding with Plambeck Emirates LLC, a solutions company in the field of renewables based in Abu Dhabi, and an exclusive agreement for a 500MW floating offshore wind farm in the kingdom.
Saudi Arabia’s 400MW Dumat Al Jandal onshore wind farm has announced what it says is a world record-low onshore wind levellised cost of electricity (LCOE) of 1.99 US cents per kilowatt-hour (kWh).
The wind park is being developed by France's EDF Renewables and UAE's Abu Dhabi Future Energy Company.
The Renewable Energy Project Development Office (REPDO) issues Request for Proposals (RFP) for Round Two of the National Renewable Energy Program (NREP) that consists of six solar PV projects. 60 companies pre-qualified to bid, 28 of which are from Saudi Arabia.
Saudi Arabia is seeking to develop new industries to wean its economy off oil. Its sovereign wealth fund plans to invest in renewable energy facilities and factories to make components for solar and wind farms.
The consortium consisting of EDF Renewables and Abu Dhabi Future Energy Company, Masdar, has completed the financing of the Dumat al-Jandal utility-scale wind project in Saudi Arabia, backed by Saudi and international banks.
Just as Saudi Arabia is going through a radical transformation under Saudi Vision 2030, so too is the country’s relationship with Japan growing and evolving, according to Tsukasa Uemura, the Japanese ambassador to the Kingdom.
A device that can produce electricity from sunlight while simultaneously purifying water has been produced by researchers, an invention they say could solve two problems in one stroke.
The Saudi Arabian sovereign wealth vehicle Public Investment Fund-backed Acwa Power has signed an agreement with China’s Silk Road Fund that makes the latter a partner and 49% shareholder in Acwa Power Renewable Energy Holding (Acwa Power Renewco).
Saudi Arabia has announced that it plans to build a $500 billion mega-city on the country’s Red Sea coast, which will be known as Neom and will operate as an independent economic zone with its very own laws, taxes and regulations.
Saudi Arabia’s government will finalise privatisation agreements valued at SAR 2 billion ($533 million) before the end of 2019, the kingdom’s crown prince, Mohammed bin Salman, told Asharq Al-Awsat newspaper on Sunday.
As managing director of the North American arm of Saudi Aramco Energy Ventures, Saudi Aramco’s venture capital subsidiary, Sledzik’s mission is to help ensure the company is at the forefront of the one of the biggest transformations of the energy industry to date.
In the interest of promoting the use of solar power across the world, the International Solar Alliance (ISA) has proposed an agreement to facilitate trading of solar power across borders.