RIYADH: Egypt’s capacity of renewable energy projects has doubled during the fiscal year 2021/22.
Zooming in, Abu Dhabi’s Masdar is weighing a binding offer for a 40 percent stake in Iberdrola's German offshore wind farm, Reuters reported citing a source close to the matter.
Looking at the bigger picture:
- Egypt’s capacity of renewable energy projects under development has doubled during the fiscal year 2021/2022, compared to the same period of 2020, according to the New and Renewable Energy Authority. The north African country’s renewable energy capacity has reached 3,570 megawatts, with foreign direct investments amounting to $3.5 billion.
Through a micro lens:
- Boeing Co. said it plans to establish a research and development facility in Japan to further development in sustainable aviation fuel and to advance electric and hydrogen aircraft technology. The facility will also focus on robotics, digitalisation, automation and carbon fiber composite materials for the aviation industry, Reuters reported citing the US aircraft manufacturer.
- American automotive company Tesla has signed long-term deals with two of its existing Chinese battery-materials suppliers, according to Bloomberg. This comes as automakers move to secure supplies amid intensifying competition.
- Abu Dhabi’s Masdar and Canada Pension Plan Investment Board are weighing binding offers for a 40 percent stake in Iberdrola’s German offshore wind farm in a deal that would value it at $1.4 billion, Reuters reported citing a source close to the matter.