ACWA POWER TO DEVELOP TWO SOLAR SCHEMES IN ETHIOPIA
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 ECONOMY EXPANDS AT FASTEST PACE SINCE 2015
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 .
GULF SETS A NEW GLOBAL BENCHMARK FOR SOLAR ENERGY PRODUCTION
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 NOW CHEAPEST FORMS OF POWER IN TWO-THIRDS OF THE WORLD
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.
SAUDI ENERGY FIRM AWARDED FIRST SOLAR PROJECT UNDER PPP
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.
ITALY'S SAIPEM AND UAE'S PLAMBECK EMIRATES TO BUILD 500MW FLOATING WIND FARM IN SAUDI ARABIA
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 WIND FARM CLAIMS WORLD RECORD LOW ENERGY COST
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).
IN FOCUS: SAUDI ARABIA'S 400MW DUMAT AL JANDAL WIND PARK
The wind park is being developed by France's EDF Renewables and UAE's Abu Dhabi Future Energy Company.
SAUDI ARABIA INVITES BIDS FOR $1.4BN SOLAR PV PROJECTS WITH A COMBINED CAPACITY OF 1.47GW
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 TO START GENERATING WIND POWER IN THREE YEARS
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.
FINANCING COMPLETED FOR DUMAR AL JANDAL WIND POWER PLANT IN SAUDI ARABIA
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.
SAUDI-JAPANESE VISION 2030 HERALS NEW ERA IN RELATIONS
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.
DEVICE COULD BRING BOTH SOLAR POWER AND CLEAN ENERGY TO MILLIONS
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.
CHINA'S SILK ROAD FUND OWN 49% OF SAUDI'S ACWA POWER RENEWCO
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), a subsidiary that owns “a number of” the company’s renewable energy projects.
SAUDI GOVERNMENT TO FINALISE $533 MILLION PRIVATISATION DEALS IN 2019 - CROWN PRINCE
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.
SAUDI ARABIA PLANS TO BUILD MEGA-CITY OF RENEWABLES AND ROBOTS
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, in an effort to boost growth and wealth for the region and investors as well as for its future residents.
SAUDI ARAMCO'S VENTURE ARM PUMPS CASH INTO STARTUPS SEEKING TO RESHAPE THE ENERGY INDUSTRY
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.
INTERNATIONAL SOLAR ALLIANCE PROPOSES INTER-COUNTRY SOLAR POWER TRADING
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.
SAUDI ARABIA'S ALFANAR GETS $75MN FUNDING FOR RENEWABLE ENERGY PROJECTS
The Saudi Arabia-based company Alfanar confirmed US$75mn of funding for future renewable energy projects.
SAUDI ARABIA'S ECONOMIC STRENGTH 'VERY HIGH'
Moody’s Investors Service rated Saudi Arabia's economic strength as “Very High (-)” based on its large scale, comparatively high per capita income levels and moderately strong growth dynamics.
CONSTRUCTION PROGRESS ON MBR SOLAR PARK - PHASE 4'S 260M SOLAR TOWER
HE Saeed Mohammed Al Tayer, managing director and chief executive officer of Dubai Electricity and Water Authority (Dewa), has received a construction update on Phase 4 of the Mohammed bin Rashid Al Maktoum Solar Park (MBR Solar Park) project, including its 260m-tall solar tower, in Dubai.
SAUDI ARABIA IS SET TO LEAD A TRILLION DOLLAR REGIONAL INVESTMENT SPLURGE
The energy sector in the Middle East and North Africa will amass almost $1 trillion in investment over the next five years, as countries build out energy capabilities and pivot to renewables, according to new research.
SAUDI OIL OUTPUT MAY RISE IN JUNE
Saudi Arabia’s oil output may edge up in June, sources familiar with the kingdom’s policy said, but the extra crude may be used for domestic power generation rather than providing the boost to exports that Washington has been seeking.
SAUDI ARABIA TO CONSTRUCT AN OIL REFINERY IN NIGERIA
Saudi Arabia has announced plans to construct an independent oil refinery in Nigeria. Minister of Energy Industry and Mineral Resources of the Kingdom of Saudi Arabia, Khalid Al Falih revealed the reports during his meeting with Nigeria’s Minister of State for Petroleum Resources, Ibe Kachikwu in Riyadh.
SAUDI ARABIA EMBRACES NEW WAY TO HARNESS SOLAR ENERGY
Saudi Arabia is embracing a new, more efficient way to harness solar power for electricity, inspired by its role as the main developer in one of the world’s largest renewable energy projects, the Mohammed bin Rashid Al-Maktoum Solar Park in Dubai.
KSA TO BECOME BIGGEST REGIONAL WIND POWER MARKET
Saudi Arabia is set to become the Middle East's biggest wind power market in the next decade as the kingdom accounts for almost half of of the region's wind capacity additions by 2028.