Egypt’s €7 Billion Green Hydrogen Project Takes Shape
Egypt has signed a historic €7 billion (~$7.58 billion) deal with France’s EDF and UAE-based Zero Waste, marking a major step toward the spread of renewable energy. The agreement intends to generate more than one million tons of green ammonia a year and is centered on building a massive green hydrogen plant close to the Gulf of Suez. Egypt’s standing as a global center for sustainable maritime energy will be strengthened by this output, which will mostly be used as shipping fuel for ships passing via the Suez Canal.
Spanning 420 square kilometers, the project will integrate wind and solar power facilities to support its operations. The initiative also includes the construction of a 400-meter-long shipping dock for the Red Sea Ports Authority and a seawater desalination unit, ensuring efficient execution and resource management.
Dubai’s Energy Demand Surges 5.4% in 2024
Dubai’s energy consumption in 2024 increased by 5.4% to 59,594 GWh from 56,516 GWh in 2023. Rapid population development and economic expansion are to blame for this spike, according to Saeed Mohammad Al Tayer, Managing Director and CEO of the Dubai Electricity and Water Authority (DEWA).
DEWA’s installed generation capacity now stands at 17.179 GW, with clean energy accounting for 20% of the total supply. Peak demand in 2024 hit 10.76 GW, reflecting a 3.4% increase from the previous year. Progress continues on the sixth phase of the Mohammad Bin Rashid Al Maktoum Solar Park, which is now 53% complete. The AED 5.5 billion (~$1.50 billion) project, designed under an independent power producer model, will ultimately provide 1,800 MW of capacity, with 600 MW already commissioned. Once complete, the park will cover 20 square kilometers and supply clean energy to approximately 540,000 homes.
EDF Renewables and Masdar Expand Wind Energy in Texas
EDF Renewables North America and Masdar have entered into a power purchase agreement with Soluna Holdings to supply up to 166 MW of renewable energy from the Las Majadas Wind project in Texas. Soluna plans to utilize this energy to power its new data center, Project Kati, located near the wind farm’s substation.
Operational since 2021, the Las Majadas Wind project boasts a total capacity of 273 MW and plays a critical role in expanding North America’s renewable energy infrastructure.
TAEF Hartree Cleantech Unveils $120 Million Investment Platform
TAEF Hartree Cleantech, a $120 million investment platform devoted to decarbonization technologies in the US and Europe, was introduced by the Arab Energy Fund and Hartree Partners. The platform, which has its headquarters in the UK, will assist venture capital-stage businesses that are interested in cleantech solutions that are both digital and physical.
Since 2020, Hartree Partners has actively invested in cleantech, with a portfolio spanning carbon markets, emissions verification, geospatial data analytics, and climate change adaptation technologies.
Lulu Retail Completes Rooftop Solar Project in Saudi Arabia
Lulu Retail, in partnership with the Kanoo-CleanMax joint venture, has finished its first solar project in Saudi Arabia, marking a significant advancement in the country’s renewable energy expansion. It is anticipated that the 502.7 kWp rooftop solar installation at its Central Warehouse in Riyadh will provide 846 MWh of renewable energy per year.
This project is among the first to integrate into the Saudi Electricity Company’s grid, marking a significant advancement in the nation’s commitment to sustainable energy solutions.
As nations and corporations worldwide continue to push forward with ambitious renewable energy initiatives, these developments underscore a collective momentum toward a cleaner, more sustainable future.
