Browsing: clean energy

Business

H.H. Mohammed bin Rashid Inaugurates World’s Largest CSP Project

His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, has officially opened the world’s largest concentrated solar power (CSP) project, located in the fourth phase of the Mohammed bin Rashid Al Maktoum Solar Park in Dubai.

Business

Masdar Explores Acquisitions for US, Europe Expansion

Abu Dhabi’s clean energy firm, Masdar, is actively considering “transformative” acquisitions to extend its influence in the US and Europe, according to its Chief Operating Officer. The company is in the process of thoroughly evaluating the market for acquisitions and exploring greenfield and brownfield projects, along with opportunities to support small renewable energy developers.

Business

Hamdan bin Mohammed Greenlights Strategic Incentives

Supporting local businesses, driving economic growth, enhancing competitiveness, and bolstering food security are the focal points of a comprehensive incentive package approved by Hamdan bin Mohammed.
The initiative spans five key areas, encompassing investment benefits, fee exemptions, competitive financing loans, research and development platforms, and facilitating local market entry.

Business

Masdar, EDF Renewables, and Nesma to Develop $1B Solar Plant

Abu Dhabi’s clean energy firm, Masdar, in collaboration with EDF Renewables and Saudi Arabia’s Nesma Company, has entered into a power purchase agreement with the Saudi Power Procurement Company to oversee a $1B solar project in the Al Madinah province of Saudi Arabia. The consortium secured the Al Henakiyah solar power project, boasting 1,100-megawatt capacity, by submitting the lowest bid at $16.84 per megawatt hour. The project will be constructed, owned, and operated by the consortium under a 25-year agreement with SPPC.