RIYADH: On a macro level, the International Renewable Energy Agency signed an agreement to scale up energy transition in the region. On a micro scale, Saudi Arabia’s ACWA Power’s unit has signed a $107 million deal to set up a solar plant in the Kingdom’s central region.
Looking at the bigger picture:
The UAE is strengthening ties with South Korea in the field of energy value chains to drive opportunities for low-carbon economic growth.
This comes during a series of meetings Minister of Industry and Advanced Technology Sultan bin Ahmed Al Jaber held with government and business leaders in South Korea, Arabian Business reported.
The International Renewable Energy Agency has inked an agreement with the Regional Center for Renewable Energy and Energy Efficiency to boost collaboration on deploying renewable energy in the Middle East and North Africa region.
Through a micro lens:
Saudi ACWA Power’s subsidiary Layla Solar Energy Co. has completed a $107 million power purchase agreement to set up a solar plant in the Kingdom’s central region, Trade Arabia reported.
The deal, with Saudi Power Procurement Co., is valid for 30 years.
Filipino billionaire Enrique Razon plans a major solar panel array in the Philippines that would supply enough clean power that would prevent burning the equivalent of 1.4 million tons of coal in a year.