SDX Energy is divesting its assets in Egypt: UK-based SDX Energy said it has entered into a non-binding heads of terms with an unnamed multinational operator to divest its assets in Egypt, it said in a disclosure to the London Stock Exchange last week. The disposal of its Egyptian assets will help the company focus on planned diversification in Morocco's energy transition sector. "SDX, re-energised with new management, will focus on monetising … Moroccan assets and related energy transition sector-plays in order to reward and deliver capital growth to our shareholders in the near term,” SDX Energy’s Managing Director Daniel Gould said.

The sale could be happening before the end of this year: The transaction with the leading multinational operator, which has existing Egyptian interests, is expected to be finalized by the end of the fourth quarter of 2023. The completion of the disposal of the assets will still be subject to a negotiation of final transaction documentation and necessary approvals for the sale by Egypt.

Alantra is coming to Dubai: Spanish investment bank Alantra said it has been granted approval from the Dubai Financial Services Authority (DFSA) to operate from the Dubai International Financial Centre (DIFC), according to a statement last week. The bank will focus on healthcare, real estate, and consumer goods, a spokesperson for the company told Reuters separately. It will be led by Saad Ashraf (LinkedIn), who has been appointed as Senior Executive Officer and managing partner of Alantra DIFC.

Alantra has a green history: The Spanish investment bank has focused on green industries in recent years as energy transition accelerates. In July, it created an Energy Transition Advisory business to provide consultations to corporates, energy companies, and others focused on energy transition. Its energy transition record includes c. 70 sustainable and green agreements advised in investment banking in the past five years, including the structuring and closing of a market access partnership with Shell Energy Europe and a recap financing of two solar PV projects for Spanish solar panel maker Solaria. The newly-formed unit complements Alantra’s Energy Transition Group, which was launched earlier this year to provide advisory, asset management, and other services for businesses aiming to boost energy efficiency by decarbonizing operations and investing in clean energy and renewable energy infrastructure in Southern Europe.

Dewa is patenting a new electrode solution for battery storage: The R&D unit of the Dubai Electricity and Water Authority (Dewa) has filed a new patent for an electrode (battery conductor) that can be used in lithium-ion, sodium-sulfur, and electrolyte distribution batteries, Wam reported last week. The newly developed electrode uses a polymer to increase the number of active groups on the surface of the electrodes. The novel method requires low temperatures and ensures stable battery performance.

REMEMBER- Electrodes sourced from polymers instead of metallic alternatives have a high discharge voltage, are more heat-resistant, and do not expand when in contact with electrodes, leading to a power storage capacity that is 1k% higher than its lithium counterparts. The use of polymer materials in electrodes offers “high rate capabilities, cheap starting materials, and are less environmentally challenging compared to metal-based batteries as they can be more easily recycled,” according to a study (pdf) published in Advanced Energy Materials journal.

The new tech may be piloted at the giant Al Maktoum solar park: The patent supports the pilot 1.2 MW storage project that Dewa inaugurated in 2021 at the Mohammed bin Rashid Al Maktoum Solar Park using Tesla’s lithium-ion battery, the news outlet writes. The project has an energy capacity of 8.6 MWh with a lifespan of up to 10 years.

Not the first storage endeavor: In 2019, Dewa developed the first utility-scale energy storage pilot project in the region in collaboration with Amplex Emirates and NGK. The two partnered to install and test a sodium-sulfur storage solution with a capacity of 1.2 MW/7.5 MWh that has been deployed across 10 different locations, adding up to a total of 108 MW/648 MWh.

OTHER STORIES WORTH KNOWING ABOUT THIS MORNING-

  • KSA taps Tawzea to operate and maintain wastewater plants: Saudi Arabia’s National Water Company has selected Tawzea — a JV between the Saudi Arabian Amiantit Company and Saudi Industrial Services Company — to operate and maintain its Dammam and AlKhobar wastewater plants. The contract signed is worth SAR 34.5 mn (USD 9.2 mn). (Saudi Exchange)
  • Lafargafe gets serious about carbon emissions reduction: Construction heavyweight Lafarge Egypt has set a target to slash 50% of its carbon emissions relative to its 2018 baseline by 2030, and said it will further hike its carbon reduction target to 60% by 2050. (Daily News Egypt)
  • UAE’s Ewec tenders a BESS project: The Emirates Water and Electricity Company (Ewec) has announced the start of a tender process for a battery energy storage system (BESS) project to complete the development, financing, construction, operation, maintenance, and ownership of the greenfield facility with a power capacity of 400 MW. (Zawya Projects)
  • Jordan and the US work on mining: Jordan’s Energy and Mineral Resources Ministry has signed a MoU with the United States Geological Survey for scientific and technological cooperation in geosciences and geology as the country looks to develop its mining sector. (Statement)
  • Sinopec inaugurates China’s largest green hydrogen plant: China’s leading state oil firm Sinopec launched the country’s biggest solar-powered green hydrogen project last Wednesday. The plant will produce 20k tons of green hydrogen per year for Sinopec’s refining and petrochemical subsidiary Tahe. Tahe previously used natural gas-generated hydrogen. (Statement)
  • Abu Dhabi airport dips its toe into solar: Abu Dhabi International Airport’s new Terminal A — home to a 3 MW solar PV at its car park roof — will open early November. (Khaleej Times)
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