NRG Matters: Egypt, UAE agree to establish 10 GW wind power project; Shell to build Europe’s largest hydrogen plant


Egypt and the UAE have agreed to establish a 10 GW wind farm, Ahram newspaper reported citing Electricity Minister Mohamed Shaker. 
Egypt and the UAE have agreed to establish a 10 GW wind farm, Ahram newspaper reported citing Electricity Minister Mohamed Shaker. 
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Updated 06 July 2022

NRG Matters: Egypt, UAE agree to establish 10 GW wind power project; Shell to build Europe’s largest hydrogen plant


NRG Matters: Egypt, UAE agree to establish 10 GW wind power project; Shell to build Europe’s largest hydrogen plant


RIYADH: On a macro level, Egypt and the UAE agreed to establish a 10GW wind power project. Zooming in, British oil firm Shell has decided to build Europe’s largest hydrogen plant from renewable power. 

Looking at the bigger picture

• Egypt and the UAE have agreed to establish a 10 GW wind farm, Ahram newspaper reported citing Electricity Minister Mohamed Shaker. 

Without providing further details, Shaker added that the deal is set to be signed after the Eid Al-Adha holidays. 

• The EU plans to become the top investor in the world’s tallest dam in Tajikistan, Reuters reported citing EU officials.

It is part of the strategy aimed at helping the Central Asia cut its reliance on Russian energy. 

Through a micro lens:

• South Korea’s Doosan Heavy Industries and Construction will implement Saudi Aramco’s estimated $500 million Jafurah cogeneration independent steam and power plant project, according to MEED.

• British oil firm Shell has decided to build Europe’s largest plant producing hydrogen from renewable power, according to Bloomberg. 

The Holland Hydrogen I will include 200 MW of electrolyzers, powered by a wind farm off the coast of the Netherlands, which is 10 times the size of the largest existing green hydrogen facility in Europe. 


Private sector can bolster Saudi-Uzbek economic ties, says minister 

Private sector can bolster Saudi-Uzbek economic ties, says minister 
Updated 12 sec ago

Private sector can bolster Saudi-Uzbek economic ties, says minister 

Private sector can bolster Saudi-Uzbek economic ties, says minister 

JEDDAH: Saudi Arabia’s economic cooperation with Uzbekistan can be bolstered through greater participation from the private sector, as the Kingdom deepens its political and business ties with the Central Asian nation, said Saudi Minister of Investment Khalid Al-Falih. 

In an exclusive interview with Arab News on the sidelines of the fourth meeting of the Saudi-Uzbeki Business Council in Jeddah, Al-Falih revealed that Uzbekistan President Shavkat Mirziyoyev met with leaders of the business community in the Kingdom, and laid out his vision of transforming his nation. 

“He (the president) asked about the ambitions of the companies to use Uzbekistan as a growth market for them, and what are the challenges they might face. For two hours, he listened and he got the feedback which is very very positive,” said Al-Falih. 

He added: “As is the case anywhere, there are some challenges and regulations to access the market. He committed to removing those challenges and open opportunities.”

Al-Falih noted that 15 agreements were signed between companies of both countries during the meeting, including ACWA Power’s $2.4 billion wind project. 

“I am confident that Uzbekistan will be one of the top destinations for Saudi investments in the next decade,” he added.  

The minister further added that foreign direct investments coming to Saudi Arabia are rising rapidly, and the trend is likely to continue in the future.

 


Saudi Saline Water Conversion to organize first global desalination gathering in Riyadh 

Saudi Saline Water Conversion to organize first global desalination gathering in Riyadh 
Updated 6 min 20 sec ago

Saudi Saline Water Conversion to organize first global desalination gathering in Riyadh 

Saudi Saline Water Conversion to organize first global desalination gathering in Riyadh 

RIYADH: Saudi state-owned Saline Water Conversion Corp. will organize the first global gathering in Riyadh to explore the prospects and solutions for the future of desalinating water.

To be held under the slogan 'Desalination in Space,' the Future Desalination International Conference will take place from Sept. 11 to 13 to promote research and propose sustainable solutions, the Saudi Press Agency reported. 

In an effort to develop the industry, the conference will see the launch of a set of initiatives and qualitative alliances to enhance water desalination infrastructure during the next decade.

This includes the World Bank initiative to support investment plans in regulating water desalination, discuss new solutions to find cost-saving opportunities, and invest in unconventional water resources.

In line with Saudi Vision 2030, the conference contributes to the pursuit of building a sustainable future that reaches net zero carbon emissions by 2060.

The conference will draw a roadmap for the development of the unconventional water desalination industry until 2030.

This is to be done through examining opportunities to reduce carbon emissions by 50 percent, developing revenues in the industry, and controlling the cost of water desalination to reach the world record price of $0.32 per cubic meter.


NRG Matters — Oman aims to produce 3,350MW electricity from renewables by 2027; Malaysian utility expedites energy transition

NRG Matters — Oman aims to produce 3,350MW electricity from renewables by 2027; Malaysian utility expedites energy transition
Updated 17 min 51 sec ago

NRG Matters — Oman aims to produce 3,350MW electricity from renewables by 2027; Malaysian utility expedites energy transition

NRG Matters — Oman aims to produce 3,350MW electricity from renewables by 2027; Malaysian utility expedites energy transition

RIYADH: Oman is planning to boost its daily power production using renewable energy to 3,350 MW by 2027, up from its current 650 MW, according to Oman Daily Observer.

The country also aims to become one of the top 40 countries globally in the environmental performance index. 

Electric vehicle 

China’s Geely Automobile is aiming to increase the proportion of electric vehicles in its total sales to 50 percent in 2023, Reuters reported. 

It is part of the company’s objectives to accelerate its transition to EV production amid weakening demand for petrol-driven cars.

Green hydrogen conference

The Connecting Green Hydrogen MENA 2023 event will be held on March 14-16, 2023, in Palazzo Versace Dubai, according to Trade Arabia. 

The event will include 1,500 policymakers, oil and gas firms, energy utilities, investors, project developers, suppliers, hydrogen mobility and transportation firms.

The conference will focus on future development and prospects of the Middle East and North African region’s hydrogen industry.

Energy transition 

Malaysian utility Tenaga Nasional Bhd is aiming for capital expenditure of about 20 billion ringgit ($4.48 billion) annually till 2050 to fast track its energy transition plans, Reuters reported citing a statement. 

The investments will help Tenaga reach net-zero emissions by 2050 and “open opportunities in more than doubling its earnings before interest and taxes,” said CEO Baharin Din. 


Saudi IT firm Arab Sea plans new Egyptian branch to meet rising demand 

Saudi IT firm Arab Sea plans new Egyptian branch to meet rising demand 
Updated 42 min 16 sec ago

Saudi IT firm Arab Sea plans new Egyptian branch to meet rising demand 

Saudi IT firm Arab Sea plans new Egyptian branch to meet rising demand 

RIYADH: Information technology services provider Saudi Arab Sea Information Systems Co. plans to open a new office in Egypt in order to address the rising demand for its systems.

Based in Riyadh, the company said in a bourse filing that the decision was approved by the company’s board of directors on Aug. 17.

It added that any developments will be announced in due course.

Most recently, Arab Sea reported weak earnings for the first half of 2022, turning into losses of SR5.5 million ($1.33 million) from SR4.4 million in profit a year earlier.

The results were attributed to a year-on-year revenue drop of 22 percent to SR17 million, in addition to higher costs from establishing its unit, Arab Sea Financial Co.


Saudi insurer Enaya seeks capital reduction of $13m to recoup losses

Saudi insurer Enaya seeks capital reduction of $13m to recoup losses
Updated 50 min 12 sec ago

Saudi insurer Enaya seeks capital reduction of $13m to recoup losses

Saudi insurer Enaya seeks capital reduction of $13m to recoup losses

RIYADH: Saudi Enaya Cooperative Insurance Co.’s board proposed a capital reduction of SR50 million ($13 million).

Upon the reduction, the company will increase its capital by SR130 million through a rights issue, bringing the company's capital to SR230 million, the company said in a bourse filing.

Enaya is reducing its capital to amortize its accumulated losses, it said.