Bahrain’s Riffa Views and UAE’s Agthia Group ink solar agreements, China’s Exeed luxury EVs hit Egyptian streets

RENEWABLES-

RVOA signs lease agreements with Sirajpower: Bahrain’s Riffa Views Owners Association (RVOA) has inked a 25-year solar lease agreement with Emirati solar energy provider SirajPower that will see SirajPower implementing solar solutions with a capacity of 1.6 MWp at Riffa Views, according to a statement. The project aims to produce 70GWh of energy over the course of 25 years, offsetting approximately 50k metric tons of carbon dioxide emissions, the statement notes.

Yellow Door Energy secures solar plant contracts from Agthia: UAE-based food and beverages giant Agthia Group has awarded Yellow Door Energy (YDE) contracts to establish two 5 MWp solar power plants, according to an ADX filing. The plants will cover 20% of the energy consumption of Agthia factories and generate 287 GWh. YDE is looking to deploy upwards of USD 1 bn in projects in the region after raising USD 400 mn from shareholders focusing on executing sustainable energy solutions.

Agthia operations get greener: The conglomerate signed an MoU with Beeah Group and Veolia Middle East subsidiary Repeet in January to assess the feasibility of a 40k sqm, 12k ton per annum polyethylene terephthalate recycling plant to cut around 18k metric tons of CO2 annually.

SDX integrates renewables in its new strategy: UK-based SDX Energy revealed a newcorporate strategy (pdf) yesterday which will see the company shift to becoming a hybrid energy provider in Morocco. The company plans to expand into renewable energy production while maintaining its Moroccan gas operations and explore the "commercially compelling cross-sell of gas and green electricity," as SDX aims to become a regional player in the energy transition sector. The company said it was divesting its Egyptian assets last September to focus on planned diversification in Morocco's energy transition sector.

ELECTRIC VEHICLES-

Egypt’s Natcowill distribute Exeed EVs locally: Egypt's National Automotive Company(Natco) has acquired exclusive rights to Chinese automaker Exeed ’s high-tech luxury cars and EV models in the Egyptian market, according to a statement. Egypt’s government launched an electronic platform earlier this month for the Egyptian Automotive Industry Development Program to encourage EV localization and enhance the country’s existing assembly and manufacturing capabilities. Mercedes-Benz also released a range of all-electric sedans in Egypt earlier this month.

OTHER STORIES WORTH KNOWING ABOUT THIS MORNING-

• Iran’s SATBA + INIF to support small-scale renewable energy projects: Iran’s Renewable Energy and Energy Efficiency Organization (SATBA) have signed an MoU with the Iran National Innovation Fund (INIF) to provide IRR 3 tn (USD 6 mn) in funding to implement small-scale projects in the renewable energy sector, including supply contracts, industrial self-supply power plants, and renewable power plants in industrial and specialized solar towns. (Tehran Times)