{"id":82765,"date":"2024-03-04T00:00:00","date_gmt":"2024-03-04T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/climate\/2024\/03\/04\/ericsson-stc-groups-iot-squared-to-launch-waste-management-platform-in-ksa\/"},"modified":"2024-03-04T00:00:00","modified_gmt":"2024-03-04T00:00:00","slug":"ericsson-stc-groups-iot-squared-to-launch-waste-management-platform-in-ksa","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/climate\/2024\/03\/04\/ericsson-stc-groups-iot-squared-to-launch-waste-management-platform-in-ksa\/","title":{"rendered":"Ericsson + stc Group\u2019s Iot Squared to launch waste management platform in KSA"},"content":{"rendered":"

M&A WATCH-<\/p>\n

Interested parties have until 3 April to submit bids for the 40% stake sale of the <\/strong>89.1 MW Fujeij<\/a><\/strong>wind power plant<\/a><\/strong> in Jordan<\/strong>, Meed<\/a> reported on Thursday. The Korea Electric Power Corporation (Kepco) has a 100% direct investment in the wind farm \u2014 which became operational<\/a> in 2019 \u2014 and expects to finalize the sale in 1H 2024. The 27-turbine plant provides enough clean energy annually to power some 32k households in the country, and abates approximately about 159k tonnes of carbon emissions per year. Kepco established the Fujeij Wind Power Company to operate the plant, and Jordan\u2019s National Electric Power Company (NEPCO) inked a pact with the company to offtake the power generated until 2039. <\/p>\n

Advisor:<\/strong> The South Korean firm has reportedly appointed KPMG Korea as its sell-side advisor on the transaction, according to Meed. The plant has delivered Ebitda margins of 85%, and the company\u2019s PPA with NEPCO will ensure steady revenue streams over the 20-year PPA period inked since operation, Meed quotes the company as saying.<\/p>\n

Plans to prioritize other green transition assets: <\/strong>Kepco \u2014 which is among other Korean firms that have inked an agreement<\/a> with KSA\u2019s sovereign wealth fund to build a USD 6.5 bn mega green fuels plant in the kingdom \u2014 says its sale in Jordan is part of a wider company strategy to diversify its assets as it looks to focus on hydrogen, ammonia, renewables, and grid developments across its overseas assets, Meed notes. <\/p>\n

\n

NUCLEAR ENERGY-<\/p>\n

Emirates Nuclear Energy Corporation subsidiary Nawah Energy Company has started up <\/strong>the 5.6 GW <\/strong>Barakah Nuclear Energy Plant\u2019s<\/a><\/strong> fourth unit<\/strong>, according to a statement<\/a> released on Friday. The Abu Dhabi plant has started producing heat through nuclear fission to generate electricity and the fourth unit is expected to be linked to the national grid soon for testing. The UAE granted the company a 60-year operating license<\/a> for the Barakah Nuclear Energy Plant\u2019s fourth unit in November. The final unit will meet 25% of the UAE\u2019s energy needs.<\/p>\n

\n

ENERGY STORAGE-<\/p>\n

BESS FOR MBR\u2019s sixth phase: <\/strong>The Dubai Water and Electricity Authority (Dewa) is reportedly exploring the addition of a battery energy storage system to the USD 1.5 bn, 1.8 GW sixth phase of its 4.66 GW Mohammed Bin Rashid Solar Park<\/a>, Meed<\/a> reported on Thursday, citing sources with knowledge of the matter. The planned investment ticket and timeline for the battery project were not disclosed. <\/p>\n

\n

WATER MANAGEMENT- <\/p>\n

UAE launches USD 119 mn desal tech competition: <\/strong>The UAE has launched a five-year global competition with a cash prize of USD 119 mn aimed at encouraging the testing and deployment at scale of sustainable, reliable, and affordable desalination technologies, Wam<\/a> reported on Thursday. The competition was launched in partnership with the American XPrize Foundation<\/a>, which together with the UAE invested a total of USD 150 mn into the initiative \u2014 called the XPrize Water Scarcity<\/a> competition \u2014 which will be chaired by the UAE\u2019s Minister of Foreign Affairs Sheikh Abdullah bin Zayed. <\/p>\n

GREEN HYDROGEN- <\/p>\n

UM6P <\/strong>launches green hydrogen and ammonia company: <\/strong>Mohammed VI Polytechnic University (UM6P) subsidiary Innovx<\/a> has launched Hydrojeel, a new subsidiary focused on green hydrogen and ammonia, according to a statement<\/a> released last week. Hydrojeel's strategy includes developing the Green Ammonia Program for the OCP Group, which aims to produce sustainable plant nutrition solutions. The program aims to mobilize investment in green hydrogen production technologies and processes.<\/p>\n

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