{"id":78646,"date":"2023-07-26T01:00:57","date_gmt":"2023-07-26T01:00:57","guid":{"rendered":"https:\/\/enterpriseam.com\/climate\/2023\/07\/26\/three-uae-firms-are-targeting-renewable-energy-projects-at-indian-ports\/"},"modified":"2023-07-26T01:00:57","modified_gmt":"2023-07-26T01:00:57","slug":"three-uae-firms-are-targeting-renewable-energy-projects-at-indian-ports","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/climate\/2023\/07\/26\/three-uae-firms-are-targeting-renewable-energy-projects-at-indian-ports\/","title":{"rendered":"Three UAE firms are targeting renewable energy projects at Indian ports"},"content":{"rendered":"

<\/a> UAE\u2019s Energia Verde to invest USD 18 mn in greenifying Indian ports<\/strong>: UAE-based real estate firm Luxury Assets Real Estate<\/a> will invest INR 1.5 bn (c. USD 18.3 mn ) to greenify three of India\u2019s ports through Energia Verde, its newly formed JV with the UK\u2019s Sunshine Holdings, CEO Mohammed Adeel Shaikh told Enterprise Climate.<\/p>\n

Where is the money going?<\/strong> The company\u2019s USD 18.3 mn investment will finance an ongoing collaboration with the Indian government aimed at decarbonizing three of the country\u2019s ports and implementing renewable energy sources and battery energy storage facilities for cranes, Shaikh said. The ports are located in Mumbai and the south and eastern regions of the country. A timeline for the operational launch of the projects was not disclosed.<\/p>\n

About Energia Verde:<\/strong> The company aims to invest some AED 300 mn (c. USD 81.6 mn) in the next six months across the solar, wind energy, battery storage, and grid infrastructure sectors, according to Shaikh. Luxury Assets Real Estate \u2014 who also invests in the logistics sector \u2014 established Energia Verde in a bid to help decarbonize and optimize transportation and supply chain processes, Shaikh notes.<\/p>\n

More in the pipeline:<\/strong> Energie Verde has a target to build a 3 GW solar energy plant in India\u2019s Rajasthan, as well as BESS facilities in India\u2019s Jammu and Kashmir with a combined 2 GW storage capacity. The company has so far invested AED 75 mn in India\u2019s clean energy sector, and plans to also invest in the Middle East and Europe, Shaikh tells us.<\/p>\n

WAIT- They\u2019re not the only UAE firm greenifying Indian ports: <\/strong>UAE-based port and marine services company Trot Solutions<\/a> signed an MoU with US lithium-ion battery technology company C4V<\/a> to develop renewable energy and storage solutions to power India\u2019s port activities, the Press Trust of India<\/a> news agency reports, citing a C4V statement. The timeline and investment cost of the project was not disclosed.<\/p>\n

What we know:<\/strong> The agreement covers converting the existing ports into green facilities and jointly developing a \u201cstrong supply chain through C4V gigafactories,\u201d according to the statement. The two companies will also collaborate on research and development projects, and building renewable and battery storage facilities that will power all port equipment, including small vessels.<\/p>\n

India is solidifying its MENA connections as it takes strides in the global energy <\/strong>transition:<\/strong> Earlier this week, Indian renewable energy company Acme Group secured an INR 40 bn<\/a> (c. USD 487.8 mn) loan from Indian infrastructure financial institution REC Limited for the green hydrogen and ammonia project it is building with Norway\u2019s Scatec in Oman. Last week, UAE President Mohamed bin Zayed Al Nahyan and India\u2019s Prime Minister Narendra Modi agreed to boost cooperation<\/a> on renewables and green hydrogen. UAE\u2019s National Central Cooling Company (Tabreed) achieved its first district cooling transaction in India<\/a> after signing an agreement with the real estate and infrastructure development arm of Indian conglomerate Tata Sons last May. An interconnection link between India and the Gulf could be in the works<\/a> as India is considering linking its power grid to Saudi Arabia and the UAE through undersea cable. India\u2019s Adani Group is reportedly planning to invest<\/a> in renewables projects with 10 GW capacity in Morocco to supply green ammonia to Europe.<\/p>\n","protected":false},"excerpt":{"rendered":"

UAE\u2019s Energia Verde to invest USD 18 mn in greenifying Indian ports: UAE-based real estate firm Luxury Assets Real Estate will invest INR 1.5 bn (c. USD 18.3 mn ) to greenify three of India\u2019s ports through Energia Verde, its newly formed JV with the UK\u2019s Sunshine Holdings, CEO Mohammed Adeel Shaikh told Enterprise Climate. […]<\/p>\n","protected":false},"author":1,"featured_media":78647,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[257],"tags":[74,11,260,88,42,52],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-78646","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-decarbonization","tag-decarbonization","tag-enterpriseclimate","tag-india","tag-renewables","tag-solar-energy","tag-uae","wpautop","entry"],"acf":{"mongo_id":"bf924782-8baa-4375-84c0-ff65ca3febd5","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2022\/12\/279.jpg","photo_position":"above","related_issue":[78638],"teaser":"","voice_url":""},"yoast_head":"\nThree UAE firms are targeting renewable energy projects at Indian ports - Climate<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/climate\/2023\/07\/26\/three-uae-firms-are-targeting-renewable-energy-projects-at-indian-ports\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Three UAE firms are targeting renewable energy projects at Indian ports\" \/>\n<meta property=\"og:description\" content=\"UAE\u2019s Energia Verde to invest USD 18 mn in greenifying Indian ports: UAE-based real estate firm Luxury Assets Real Estate will invest INR 1.5 bn (c. 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