RIYADH: On a macro level, Greece and Saudi Arabia have sealed a deal to lay an undersea data cable that will connect Europe with Asia. Zooming in, TotalEnergies has signed an agreement with Veolia to start the construction of the largest solar photovoltaic system, providing power for a desalination plant in Oman.
Looking at the bigger picture
Greece and Saudi Arabia have sealed a deal to lay an undersea data cable that will connect Europe with Asia, according to Reuters.
Both countries also discussed the possibility of linking their power grids to supply Europe with cheaper green energy.
Germany will cut cash subsidies for electric vehicles costing less than €40,000 ($40,500) starting next year in order to target smaller and cheaper models, Bloomberg reported.
The cash bonus will be cut to €4,500 from €6,000, according to the Economy Ministry’s statement.
Through a micro lens:
TotalEnergies and Veolia have signed an agreement to start the construction of the largest solar photovoltaic systems providing power for a desalination plant in Oman, in the city of Sur, according to a statement.
Located on the site of the Sharqiyah Desalination plant, the 17-megawatt peak solar project will produce 30,000 megawatt-hours of green electricity annually.
General Motors Co. has signed multi-year agreements with LG Chem and Livent Corp. to secure key raw materials used in manufacturing batteries for electric vehicles.
With the latest deals, GM said it is on course to reach its goal of producing 1 million EVs annually in North America by the end of 2025, according to Reuters.