SOLAR-

Ewec makes it official: The Emirates Water and Electricity Company (Ewec), along with an international consortium comprising France’s EDF and Korea Western Power (Kowepco), has signed a power purchase agreement (PPA) to develop Ewec’s 1.5 GW Al Ajban solar IPP project, a press release reads. Ewec had selected the consortium back in February. The consortium was awarded development rights for the project, with Masdar serving as the local shareholder.

What we know: The development of the project has an estimated investment ticket of around USD 748 mn, according to earlier reports, and is expected to generate around USD 2.24 bn in revenues.

The details: Under the PPA, Ewec will pay solely for the net electrical energy supplied by the plant, with the consortium responsible for designing, financing, building, and operating the plant. The project will be fully commercially operational in 3Q 2026, according to the press release.

Arctech Solar to make solar panels in Jeddah: Modon signed an agreement with Chinese solar equipment maker Arctech Solar to build a factory in Jeddah capable of making solar panels with 3 GW of production capacity each year, Xinhua reported. It is set to be Archtech’s second factory abroad after its facility in India’s Gujarat. No further details were provided.

RENEWABLES-

GREGY tenders are live: Greek renewables player Elica Group — the firm developing the Egypt-Greece interconnection project dubbed GREGY — has launched two tenders for the energy linkup project, the group said in two press releases (here, here). The first tender is for companies interested in taking over the market, technical, and costbenefit analysis of the project, while the second is for the desktop study for the project. Interested companies have until the end of May to submit their offers.

ENERGY EFFICIENCY-

Emaar launches energy efficiency program: Dubai real estate developer Emaar Properties has announced the launch of a comprehensive energy management strategy to enhance energy efficiency across its portfolio, according to a statement. The initiative, detailed in the company’s 2023 annual report, includes retrofit and control measures to reduce energy consumption by 15-20% over the next five years, which is equivalent to a reduction of 21k-22k metric tonnes of carbon dioxide. Emaar has developed multiple tender packages for the projects and is partnering with energy service companies to achieve its sustainability goals.

OTHER STORIES WORTH KNOWING ABOUT THIS MORNING-

  • UAE and Costa Rica talk renewables: UAE President Sheikh Mohammed bin Zayed Al Nahyan discussed potential cooperation in renewables, sustainability, and environmental conservation with his Costa Rican counterpart, Rodrigo Chaves Robles.. (Wam)
  • Egyptian green hydrogen project on the horizon: Transportation Ministry is set to finalize the legal procedures and approvals for a project to produce green hydrogen, its derivatives, and green ammonia at the Port of Alexandria. The project is a collaboration between the General Authority of Alexandria Port, the New and Renewable Energy Authority, and Demi-Highport Energy. (Statement)
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