{"id":80984,"date":"2023-12-04T00:00:00","date_gmt":"2023-12-04T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/climate\/2023\/12\/04\/masdar-signs-a-spate-of-agreements-in-a-renewables-energy-swoop-scatec-and-amea-power-expand-their-presence-regionally-and-abroad\/"},"modified":"2023-12-04T00:00:00","modified_gmt":"2023-12-04T00:00:00","slug":"masdar-signs-a-spate-of-agreements-in-a-renewables-energy-swoop-scatec-and-amea-power-expand-their-presence-regionally-and-abroad","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/climate\/2023\/12\/04\/masdar-signs-a-spate-of-agreements-in-a-renewables-energy-swoop-scatec-and-amea-power-expand-their-presence-regionally-and-abroad\/","title":{"rendered":"Masdar signs a spate of agreements in a renewables energy swoop + Scatec and Amea Power expand their presence regionally and abroad"},"content":{"rendered":"

Masdar is making the rounds at COP28: <\/strong>UAE renewables player Masdar is sweeping the circuit at the summit, inking on the dotted line to launch renewables projects in Europe, Central Asia, and Africa.<\/p>\n

The company is widening its presence in the UK:<\/strong> Masdar signed an agreement with German energy company RWE to purchase 49% of RWE\u2019s 3 GW Dogger Bank South offshore wind farms as part of its larger GBP 11 bn investment ticket into UK renewables, Wam<\/a> reported on Friday. The acquisition will pave the way for Masdar and RWE to jointly co-develop the two offshore wind farms with construction starting as early as 2025, according to a RWE statement<\/a>. The first 800 MW of electricity is planned to come online in 2029 with the aim to fully commission the projects by late 2031, the statement added. Closing of the agreement is subject to customary approvals and expected in 1Q 2024, Wam notes. <\/p>\n

And expanding in Kazakhstan<\/strong>:<\/strong>The company signed a joint development agreement (JDA) with W Solar, Qazaq Green Power QGP \u2014 owned by Kazakh sovereign wealth fund Samruk-Kazyna \u2014 and the Kazakhstan Investment Development Fund to develop a 1 GW wind energy farm in the Central Asian country, Wam<\/a> reported on Saturday. The project marks Masdar\u2019s first entry into Kazakhstan. The financial details and a timeline for the project were not disclosed. <\/p>\n

Then moved further south in Angola: <\/strong>Masdar also signed an agreement with Angola\u2019s Energy and Water Ministry to develop a 150 MW onshore solar power plant in the Hulia province of the African country, Wam<\/a> reported on Saturday. The financial details of the agreement and a timeline for the project was not disclosed. Once operational, the project is set to offset 224k tons of CO2 annually and provide enough clean power to some 90k households in Angola<\/p>\n

Masdar has green ambition in Africa: <\/strong>The project falls in line with the UAE-led USD 10 bn Africa Green Investment Initiative, Wam notes. Masdar is planning to develop 10 GW of renewables projects in the continent by 2030 in a bid to provide clean electricity to 100 mn people by 2035. Back in January, Masdar inked two agreements to develop 3 GW worth of solar projects<\/a> in Angola and Uganda and 4 GW worth of renewables projects<\/a> in Zambia and Ethiopia.<\/p>\n

OTHER MASDAR STORIES TO NOTE-<\/strong><\/p>\n

Boosted capacity for Indonesian floating solar project:<\/strong> Masdar and Indonesia\u2019s state-owned PLN signed an agreement to proceed with plans to add up to 500 MW capacity to its Cirata 145 MW floating solar plant<\/a> in Indonesia and to explore green hydrogen projects. (Statement<\/a>)<\/p>\n

An eye on<\/strong>Greece's green infrastructure: <\/strong>Masdar signed an agreement with the Greek Ministry of Environment and Energy to collaborate on a green infrastructure in Poros Island including renewable energy projects, decarbonising the island's vehicle fleet and maritime transportation, and waste management projects. (Wam<\/a>) <\/p>\n

10 GW worth of projects in Malaysia:<\/strong> Masdar signed an implementation roadmap<\/a> with Malaysia to proceed with the development of 10 GW worth of clean energy projects including round-mounted, rooftop, and floating solar power plants, onshore wind farms, and battery energy storage systems. (Wam<\/a>)<\/p>\n

\n

\n

Scatec<\/strong>boosts Egypt green energy profile at COP28:<\/strong> Norwegian renewables developer Scatec inked a USD 1.1 bn agreement with the Suez Canal Economic Zone to supply ships with green fuel in east Port Said, according to a statement<\/a> released yesterday. The green fuel\u2019s 190 MW electrolyzer will be powered by 317 MW wind and 140 MW solar energy with a production target of 100k tons of green methanol annually by 2027.<\/p>\n

And there\u2019s more: <\/strong>The Norwegian firm also signed an agreement with the Egyptian Electricity Holding Company to establish a 1 GW solar and 200 MWh battery storage project in Egypt, according to a statement<\/a> released on Saturday. The African Development Bank Group signed a letter of intent for the financing package of the project yet the value of the project wasn\u2019t disclosed. <\/p>\n

\n

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UAE\u2019s Amea Power taps into Ethiopia wind energy market: <\/strong>UAE renewables company Amea Power signed an agreement with Ethiopia\u2019s Finance Ministry to build a a USD 600 mn, 300 MW onshore wind power plant in the African country, according to a statement<\/a>. The Aysha wind farm will span 18k acres, making it the country\u2019s largest once operational. A timeline on when construction would begin on the plant was not provided. <\/p>\n

And eyes Kenya\u2019s geothermal sector:<\/strong> The UAE firm is also reportedly set to sign a USD 800 mn agreement with Geothermal Development Co. of Kenya to develop the 200 MW Baka geothermal energy generation plant in the African country, Asharq Business<\/a> reported on Saturday, citing a source with knowledge of the matter. The expected timeline of the project and Amea\u2019s stake in the venture was not provided. Back in September, Amea Power said it plans to establish a 1 GW green hydrogen plant<\/a> in Kenya\u2019s Mombasa port as part of a commitment to mobile USD 5 bn to finance development of several renewable energy projects in Africa that would yield a 5 GW power capacity by 2030.<\/p>\n

OTHER STORIES WORTH KNOWING-<\/strong><\/p>\n

Acwa Power finalizes agreement on Kazakh wind farm: <\/strong>The Saudi renewables giant finalized its agreement to build a 1 GW wind power and battery energy storage project \u2014 which it signed a roadmap agreement<\/a> for in June with Samruk-Kazyna \u2014 in Kazakhstan. The project is expected to cost USD 1.8 bn. (Reuters<\/a>)<\/p>\n

UAE <\/strong>+ Philippines partner on mitigation efforts<\/strong>: UAE's Ministry of Climate Change and Environment signed an MoU with the Philippines Climate Change Commission to cooperate on mitigating the impacts of climate change, adaptation efforts, and preserving natural resources and biodiversity. (Statement<\/a>)<\/p>\n

The UN and UAE partner to accelerate the energy transition:<\/strong> Executive Secretary of the UN\u2019s Framework Convention on Climate Change (UNFCC) Simon Stiell signed an agreement with the UAE\u2019s Independent Climate Change Accelerators (UICCA) to expand cooperation on climate finance, carbon market development, green tech investments, and youth upskilling in the climate adaptation and green energy sectors. (Wam<\/a>) <\/p>\n

Tadweer <\/strong>+ Aquagrain to debut waste to soil tech:<\/strong> UAE's Tadweer and the UK's Aquagrain<\/a> will partner on an ADQ-backed USD 2.5 mn pilot project to deploy Aquagrain's soil enhancing tech which uses organic waste to grow crops in arid lands using 50% less water and inorganic fertilizers. The project will pave the way for the first-ever commercial scale Aquagrain production facility to be launched in Abu Dhabi. (Wam<\/a>) <\/p>\n

Opec <\/strong>Fund to partner with Irena + IAEA on climate action: <\/strong>The Opec Fund<\/a> is expected to sign agreements during COP28 to support climate action and resilience in developing nations. It will partner with the International Atomic Energy Agency (IAEA), the International Renewable Energy Agency, and development banks to address climate-related challenges and food security. (Ahram Online<\/a>) <\/p>\n","protected":false},"excerpt":{"rendered":"

The three companies are expanding their presence in Europe, Egypt, Africa, and Central 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