{"id":548627,"date":"2022-08-16T04:00:56","date_gmt":"2022-08-16T04:00:56","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/08\/16\/israeli-energy-players-launch-mena-wide-renewables-venture\/"},"modified":"2022-08-16T04:00:56","modified_gmt":"2022-08-16T04:00:56","slug":"israeli-energy-players-launch-mena-wide-renewables-venture","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/08\/16\/israeli-energy-players-launch-mena-wide-renewables-venture\/","title":{"rendered":"Israeli energy players launch MENA-wide renewables venture"},"content":{"rendered":"

<\/a> Israeli energy firms want to invest in the Egypt\u2019s renewables sector: <\/strong>Israeli gas producer Delek Drilling<\/s> NewMed Energy<\/a> is lining up a joint venture with Tel Aviv-listed Enlight Renewable Energy<\/a> to invest in renewables projects across the MENA region, the two companies said in separate disclosures to the Israeli stock exchange yesterday (NewMed, pdf<\/a> | Enlight, pdf<\/a>).<\/p>\n

They plan to:<\/strong><\/p>\n

#1- Target Egypt + the wider region:<\/strong> The companies will pursue projects in Egypt, Jordan, Morocco, Oman, Bahrain, the UAE, and Saudi Arabia, the companies said.<\/p>\n

#2- Invest in several types of renewables projects:<\/strong> The JV will target projects in solar, wind, energy storage and other renewables segments.<\/p>\n

#3- And participate at every stage of a project\u2019s life cycle<\/strong>, including initiation, development, financing, construction and operation.<\/p>\n

But they won\u2019t do it alone:<\/strong> The firms will work with local contractors to help them develop projects.<\/p>\n

What they said:<\/strong> \u201cThe venture will exploit what we see as a very large opportunity in the region that began with natural gas, a development led to a large extent by NewMed,\u201d Bloomberg<\/a> reported Enlight CEO Gilad Yavetz as saying in a conference call.<\/p>\n

NewMed is no newcomer to Egypt:<\/strong> NewMed \u2014 rebranded from Delek Drilling<\/a> earlier this year \u2014 has been a key player in Egypt\u2019s plans to become a natural gas hub for the Mediterranean region. These plans have recently seen us partner with Israel<\/a> to up gas exports to Europe. Alongside Chevron, the company operates Israel\u2019s two biggest offshore gas fields, Tamar and Leviathan, from which natgas is pumped our way for liquefaction and re-export to the EU. NewMed and Chevron are also developing Cyprus\u2019 Aphrodite gas field<\/a>, which is also set to be linked via a new pipeline to LNG facilities on Egypt\u2019s north coast for re-export.<\/p>\n

What\u2019s next: <\/strong>NewMed will put the plan to its shareholders in an upcoming general assembly meeting, it said.<\/p>\n","protected":false},"excerpt":{"rendered":"

Israeli energy firms want to invest in the Egypt\u2019s renewables sector: Israeli gas producer Delek Drilling NewMed Energy is lining up a joint venture with Tel Aviv-listed Enlight Renewable Energy to invest in renewables projects across the MENA region, the two companies said in separate disclosures to the Israeli stock exchange yesterday (NewMed, pdf | […]<\/p>\n","protected":false},"author":1,"featured_media":548628,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","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":[7207],"tags":[93,2257,72,2258,7200,151],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-548627","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-energy","tag-energy","tag-enlight-renewable-energy","tag-enterpriseam","tag-gilad-yavetz","tag-newmed","tag-renewables","wpautop","entry"],"acf":{"mongo_id":"69e25701-8cf1-4487-a287-d03449a74890","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2022\/8\/262.jpg","photo_position":"above","related_issue":[548623],"teaser":"","voice_url":""},"yoast_head":"\nIsraeli energy players launch MENA-wide renewables venture - EnterpriseAM Egypt<\/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\/egypt\/2022\/08\/16\/israeli-energy-players-launch-mena-wide-renewables-venture\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Israeli energy players launch MENA-wide renewables venture\" \/>\n<meta property=\"og:description\" content=\"Israeli energy firms want to invest in the Egypt\u2019s renewables sector: Israeli gas producer Delek Drilling NewMed Energy is lining up a joint venture with Tel Aviv-listed Enlight Renewable Energy to invest in renewables projects across the MENA region, the two companies said in separate disclosures to the Israeli stock exchange yesterday (NewMed, pdf | […]\" \/>\n<meta property=\"og:url\" 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