ENEC signs a bunch of nuclear agreements and more African expansions in renewables from Masdar and Amea Power

The penultimate day of COP28 brought a slew of nuclear and renewable energy agreements, with Masdar and Amea Power making moves in Africa.

NUCLEAR-

ENEC partners with US’ Xenergy on nuclear tech: The Emirates Nuclear Energy Corporation (ENEC) has signed an MoU with US miniature nuclear reactor developer Xenergy to deploy the latest nuclear energy tech, Wam reports. The agreement aligns with Enec's recently launched Advance program aimed at accelerating decarbonization through nuclear technologies.

And there’s more: ENEC also signed an MoU with the UK Department for Energy Security and Net Zero (DESNZ) to collaborate on nuclear energy deployment, Wam reports.

ALSO- ENEC launches decarbonization roadmap: The company also partnered with the Idaho National Laboratory of the US Department of Energy to launch a roadmap aimed at reducing its carbon footprint across all activities including operations at the Barakah Nuclear Energy Plant site, Wam reports. ENEC also recently partnered with Egypt to advance the use of nuclear energy.

RENEWABLES-

Amea Power continues its Africa expansion: UAE renewables company Amea Power signed agreements with the governments of Uganda, Djibouti, Mozambique and Zimbabwe to develop renewables projects with a combined 200 MW generation capacity, the company’s chair Hussein Al Nuwais told Al Bayan. The new agreements brings Amea’s clean energy portfolio to a total of 5.5 GW.

Masdar’s been heading the leaderboards at COP:Masdar expanded its presence in African countries during COP28 in a bid to develop 10 GW of renewables projects in the continent by 2030, according to a statement. Signing MoUs with Uganda, Angola, Zambia, and Ethiopia last week to develop renewable energy projects in these countries.

Egypt-based renewable energy developer Infinity Power: A joint venture between Masdar and Egypt’s Infiny Power saw an MoU signed with Mozambique's Energy and Mineral Resources Ministry to set up to 1 GW of renewables projects, the statement notes.

Finally, geothermal:Masdar-backed Pertamina Geothermal Energy signed an MoU with the Geothermal Development Company of Kenya to collaborate on geothermal energy development in the country.

OTHER STORIES WORTH KNOWING ABOUT THIS MORNING-

• UAE, South Korea partner on climate finance: The UAE’s export agency Etihad CreditInsurance signed an MoU with the Export-Import Bank of Korea (Korea Eximbank) to boost financing for decarbonization projects in the Emirates and abroad, Al Bayan reports. Under the new program, Korean developers working on renewable, nuclear energy, and green infrastructure projects in the UAE, or with UAE partners in foreign markets, will be eligible for funding.

• Dubai Future District Fund will invest AED 200 mn in green tech: Government-anchored Dubai Future District Fund will allocate 20% of its AED 1 bn (c.USD 272.3 mn) venture capital fund towards financing climate tech startups, according to a statement released last week. AED 200 mn (c. USD 54.4 mn) will be earmarked to tech startups working in the food and agri tech, building materials, and logistics sectors, the statement added. The AED 1 bn was added to the fund by UAE Prime Minister Mohammed bin Rashid Al Maktoum in 2020 when it was first launched.