{"id":99662,"date":"2025-01-15T00:00:00","date_gmt":"2025-01-15T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/mbz-sat-takes-off-on-falcon-9-rocket-introducing-exergy\/"},"modified":"2025-01-15T00:00:00","modified_gmt":"2025-01-15T00:00:00","slug":"mbz-sat-takes-off-on-falcon-9-rocket-introducing-exergy","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/uae\/2025\/01\/15\/mbz-sat-takes-off-on-falcon-9-rocket-introducing-exergy\/","title":{"rendered":"MBZ-SAT takes off on Falcon 9 rocket + Introducing EXERGY"},"content":{"rendered":"

Good morning, wonderful people<\/strong>.<\/strong> We\u2019ve got a packed issue for you today \u2014 Masdar announced what is expected to be one of the world\u2019s largest solar and battery projects, fresh M&A activity courtesy of Adia and AIM, and Gems will soon open up Dubai\u2019s most expensive school. <\/p>\n

The Mohamed bin Zayed satellite (MBZ-SAT) took off last night <\/strong>from the Vandenberg Space Force Base in California, aboard a Falcon 9 Rocket, Wam<\/a> reports. Fully developed by Emirati engineers, the satellite is the most advanced in the region, offering high-resolution imaging with a detail area smaller than one square meter. Its productivity is 10 times greater than previous models, with data sharing speeds four times faster.<\/p>\n

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WEATHER- We\u2019re in for another cloudy day:<\/strong> The National Center of Meteorology forecasts (pdf)<\/a> today\u2019s weather to be partly cloudy in eastern and northern areas, with a chance of light rainfall and light-blowing winds. Temperatures today will hit 25\u00b0C in Dubai, with an overnight low of 16\u00b0C, and 23\u00b0C in Abu Dhabi, before cooling to an overnight low of 18\u00b0C.<\/p>\n

WATCH THIS SPACE- <\/p>\n

<\/a> #1- <\/strong>Rents in<\/strong> Sharjah are expected to remain high over the next two years<\/strong>, having already risen between 5-10%, Khaleej Times<\/a> reports, citing Chairman of the Representative Committee of the Real Estate Sector Business Group at the Sharjah Chamber of Commerce and Industry Saeed Ghanem Al Suwaidi. The emirate\u2019s rising population and the allowance of foreign freehold ownership underscored the projected rise in rent rates.<\/p>\n

REMEMBER-<\/strong> Sharjah could roll out its rental index<\/a> during the Acres real estate exhibition between 22 and 25 January, aiming to increase transparency, boost investor confidence, and reduce disputes between tenants and landlords. The emirate also issued<\/a> a new law for real estate rentals in September, capping rent hikes, imposing stricter eviction rules, and requiring faster ratification of leasing contracts.<\/p>\n

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<\/a> #2- The UAE is launching a new international energy investment company dubbed <\/strong>EXERGY<\/strong> in a bid to address growing global energy demand amid megatrends like AI computing, Zawya<\/a> reports, citing remarks made by the Industry and Advanced Technology Minister Sultan bin Ahmed Al Jaber on the sidelines of Abu Dhabi Sustainability Week. The investment vehicle will adopt a diversified energy approach, investing across gas, chemicals, low-carbon fuels, and energy infrastructure.<\/p>\n

IN CONTEXT-<\/strong> Global power demand was projected to grow to over 15k GW by 2035 from 9k GW currently, Al Jaber said. This figure is now expected to reach 35k GW by 2050 \u2014 up 250% \u2014 driven by rising AI applications like ChatGPT, which consume ten times the energy of a single Google search, he explained.<\/p>\n

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<\/a> #3- ADQ moves<\/strong> in on takeover of Turkey\u2019s Odeabank: <\/strong>Abu Dhabi sovereign wealth fund ADQ is seeking approval from the Turkish Competition Authority to acquire 96% of Odeabank<\/a>, Bank Audi<\/a> \u2019s subsidiary in Turkey, Asharq Business<\/a> reports.<\/p>\n

REMEMBER-<\/strong> ADQ inked a definitive agreement for the transaction in October<\/a> with a Bank Audi-led consortium \u2014 which includes the International Finance Corporation (IFC), IFC FIG Investment Company S\u00e0rl, and the European Bank for Reconstruction and Development. <\/p>\n

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<\/a> #4- Masdar eyes more US acquisitions: <\/strong>Abu Dhabi-based renewable energy giant Masdar is set to ramp up its US operations with a target of 25 GW of renewable capacity in the next five years, Bloomberg<\/a> reports citing Philip Haddad, president and CEO of Masdar Americas. The company aims for 100 GW of global renewable energy projects by 2030. Masdar plans to accelerate its US-based growth through acquisitions and pipeline project investments, including areas outside its recent acquisition of Terra-Gen\u2019s current markets.<\/p>\n

REMEMBER-<\/strong> Last year<\/a>, Masdar signed an agreement to acquire a 50% stake in Terra-Gen Power<\/a> Holdings, one of the largest independent renewable energy producers in the US. Terra-Gen, which has 4 GW of installed capacity \u2014 70% of which is in California \u2014 is also developing an additional 12 GW across three states. <\/p>\n

The company is also eyeing expansion into Latin America<\/strong>, with Haddad identifying Brazilian wind and solar projects as key acquisition targets.<\/p>\n

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#5- The Energy Ministry has plenty in its pipeline to boost energy efficiency: <\/strong>The Energy and Infrastructure Ministry is considering issuing green and sustainability certificates for government and commercial buildings, with a study underway to enhance energy and water efficiency, the ministry\u2019s Under-Secretary for Energy and Petroleum Affairs Sharif Al Olama told Wam<\/a>. The ministry is also preparing a tender to improve efficiency across over 400 government buildings and partnering with Aldar Properties, First Abu Dhabi Bank, and other specialized energy solution companies for a new pilot project focusing on energy efficiency improvements.<\/p>\n

DATA POINTS- <\/p>\n

Al Nowais\u2019 A<\/strong>mea Power has invested about USD 2.5 bn so far in Africa across 20 <\/strong>countries<\/strong>, USD 2 bn<\/a> of which being in Egypt alone, Chairman Hussain Al Nowais told CNBC Arabia (watch, runtime 5:39<\/a>).<\/p>\n

REMEMBER-<\/strong> Amea<\/strong> has big plans for Egypt<\/strong> which include setting up a USD 600 mn<\/a>, 5 GW wind power project in the Gulf of Suez, set to be completed by 1Q 2026. It is also currently working on a 500 MW wind farm in Ras Ghareb<\/a>, which is slated for completion by mid-2025, as well as a 1 GW solar power plant<\/a> with a 600 MWh battery storage system in Benban, expected to be Africa\u2019s largest.<\/p>\n

What\u2019s next?<\/strong> The energy firm plans to expand its investments in Asia, with two agreements recently inked for projects in Uzbekistan, Al Nowais said. In addition, it has plans to go public during the next two to three years, he added.<\/p>\n

PSAs-<\/p>\n

<\/a> #1- Dubai launch<\/strong>es One Mn Prompters initiative:<\/strong> The Dubai Center for Artificial Intelligence opened registration for the One Mn Prompters initiative, according to the Dubai Media Office<\/a>. The program aims to train 1 mn people in AI and prompt engineering over the next three years.<\/p>\n

#2- Dubai introduces Owners Committees:<\/strong> Dubai property owners residing in jointly-owned properties can now sign up for Owners Committees, a new initiative by the RERA to help manage residential communities, Wam<\/a> reports. Committees will review budgets, prioritize maintenance, and give feedback on service plans.<\/p>\n

How to sign up:<\/strong> Register via the Dubai Land Department website or Dubai REST app by 31 January. Requirements include residency, a valid UAE ID, a good conduct certificate, and cleared service fees. Priority goes to the first nine registrants, with results announced in February.<\/p>\n

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HAPPENING TODAY- <\/p>\n

The <\/strong>Abu Dhabi Sustainability Week (ADSW)<\/a><\/strong> kicked off on Sunday and runs through to 18 <\/strong>January <\/strong>at the Abu Dhabi National Exhibition Center. The event features 11 events gathering policymakers, industry leaders, and youth to discuss global sustainability solutions and foster collaborations.<\/p>\n

Among the biggest events of the week:<\/strong> <\/p>\n