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Khaleej Times
2 hours ago
- Khaleej Times
Clean energy as a global imperative: Nippon Energy leads the charge
As the urgency for climate action intensifies worldwide, Nippon Energy, a Japanese renewable energy leader headquartered in Tokyo, Japan and with it's GCC regional office in Dubai, UAE is set to take center stage with the launch of its revolutionary clean energy solution, 'Next Watt.' The launch event, scheduled for May 30, 2025, at the Mövenpick Grand Al Bustan Hotel, Dubai, is expected to be a defining moment in the global transition toward smarter, cleaner, and more connected energy ecosystems. The 'Next Watt' initiative is not merely a product launch—it symbolises a global call to collective action, urging collaboration across nations, industries, and sectors. Attendees will include prominent policymakers, engineers, sustainability advocates, educators, and business leaders, all converging to explore innovative solutions to the world's most pressing energy challenges. By creating a forum that encourages the exchange of ideas and cross-border partnerships, Nippon Energy aims to drive a new chapter in sustainable innovation. At the heart of the event will be the unveiling of cutting-edge, AI-powered renewable technologies, highlighting the next generation of smart solar and storage systems. Among the innovations are AI-driven inverters, blockchain-based energy tracking, satellite connectivity, wireless power transmission, hailstorm protection, carbon trading platforms, and advanced energy storage solutions (BESS). The 'Next Watt' platform also features grid-forming technology, short-blade turbine tech, all-in-one containerised ESS solutions, high-efficiency HJT & Perovskite modules, and water generation from air using solar energy—a testament to the company's integrated approach to energy, environment, and human needs. Live demonstrations and interactive exhibits will allow guests to witness firsthand how these technologies can be applied in real-world environments. Additionally, keynote sessions delivered by global industry experts will cover topics such as policy frameworks, market trends, and the transformative role of AI in energy. The event will culminate in a high-profile networking session and gala dinner, enabling stakeholders to forge meaningful partnerships and explore collaborative ventures. Beyond this landmark launch, Nippon Energy is embarking on significant expansion plans. The company has announced the establishment of new solar panel manufacturing units (1GW capacity), battery manufacturing, and AI-powered inverter production facilities in Dubai and Pakistan, reinforcing its commitment to regional development and green job creation. Furthermore, the company is entering the African renewable energy market, with the aim of broadening its reach, strengthening distribution networks, and delivering scalable, impactful solutions to underserved communities. Strategic collaborations and new association schemes are expected to support this expansion. What distinctly sets Nippon Energy Systems apart is not just its technological capabilities, but its human-centered corporate philosophy. The company actively promotes workforce empowerment, gender equality, diversity, respect, and stakeholder inclusivity across all its operations. These principles have been deeply ingrained in its offices in Japan, UAE, Saudi Arabia, Bahrain, Oman, Germany, Hong Kong, and Pakistan, fostering a work culture that values well-being, innovation, and shared success. This event also offers a rare opportunity for attendees to engage directly with top business and technology leaders, enabling conversations that could shape the global clean energy landscape for years to come. Nippon Energy's vision is to build a cleaner, smarter planet through bold innovation and unified effort—embodying the spirit of sustainable progress.
The National
3 hours ago
- The National
UAE-Serbia trade to accelerate as Cepa comes into effect
The Comprehensive Economic Partnership Agreement between the UAE and Serbia came into force on Saturday, as the Emirates continues to strengthen its trade relations globally. The UAE's 10th Cepa is expected to boost trade and investment flows, and remove or significantly reduce tariffs, which will all lay the foundations for enhanced co-operation across a spectrum of critical industries, the Ministry of Foreign Trade said in a statement on Saturday. The deal is also leading to projections that bilateral trade between the two nations will contribute around $351 million to the UAE's gross domestic product by 2031, it added. The UAE is Serbia's leading trading partner in the Gulf, accounting for approximately 55 per cent of its total trade with the region in 2023, according to government data. The UAE-Serbia Cepa is another "new chapter in our economic relations, creating new avenues for collaboration, investment and trade that will benefit both our nations", Dr Thani Al Zeyoudi, UAE Minister of State for Foreign Trade, said in the statement. "Through this agreement we are committed to unlocking significant opportunities that will create jobs, strengthen supply chains and facilitate a thriving environment for businesses in both countries," he added. Cepas that the UAE has already signed with nations from Colombia to Australia have contributed Dh135 billion ($36.8 billion) to the country's non-oil trade, an increase of 42 per cent compared with the previous year, Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, said previously. The UAE's non-oil foreign trade hit a record Dh3 trillion last year − up 14.6 per cent year-on-year − as the country continues to diversify its economy and forges closer trade ties with countries around the world. The Cepa programme is key for the UAE's economic growth. The Arab world's second largest economy aims to boost its gross domestic product to $800 billion by 2030, with a target of more than $1.1 trillion in total non-oil trade by 2031. Overall, the UAE has concluded 27 deals as part of the Cepa initiative. In 2025 alone, and counting Serbia's, the UAE has signed seven new deals with Malaysia, New Zealand, Kenya, Ukraine, Central African Republic, Costa Rica and Mauritius. The UAE and EU are also in discussions for a Cepa, with both sides moving closer to an agreement, Maros Sefcovic, EU Commissioner for Trade and Economic Security, told The National this week. The UAE's Cepa with Serbia is projected to further boost non-oil trade between the two countries, which hit about $121.4 million in 2024, twice that compared to 2021 levels, according to government data. Serbia is positioned as a key partner for the UAE, with its diverse economy and strategic location providing a vital gateway into Eastern Europe and the Balkans. "The Cepa is expected to not only enhance trade but also increase private sector collaboration and promote investments in priority sectors such as renewable energy, agriculture, logistics and technology," the statement said. The bilateral relationship has been further strengthened by increasing flows of FDI [foreign direct investment], which has been directed towards high-growth sectors, enhancing shared economic interests."
The National
5 hours ago
- The National
Opec+ agrees another accelerated oil output for July
Opec+ has agreed to maintain its monthly oil output of 411,000 barrels per day for July, as it boosts supply amid trade tension-induced economic uncertainty. Analysts say the move is a possible gesture to appease US President Donald Trump's desire for lower crude prices. The hike marks the third consecutive month that the group, led by Saudi Arabia and Russia, will raise production at the same level, Opec+ said in a statement following a virtual meeting on Saturday. The decision was "in view of a steady global economic outlook and current healthy market fundamentals, as reflected in the low oil inventories", the group said. Opec+ noted that gradual increases may be paused or reversed "subject to evolving market conditions", giving them the "flexibility will allow the group to continue to support oil market stability". The accelerated unwinding of Opec+'s own restriction programme is expected to boost the market's supply surplus into the second half of 2025 "when demand prospects are fragilised by trade tensions", Ipek Ozkardeskaya, a senior analyst at Swissquote Bank, told The National. Mr Trump, meanwhile, has repeatedly called for lower oil prices to boost the domestic US oil industry. "We don't yet know if Opec+'s latest moves are to please Mr Trump or to [align] certain members" with the group's quotas, Ms Ozkardeskaya said. "Yet the rising supply will likely continue to apply negative pressure on prices – unless there is a sudden shift in the tariff picture like ruling of the tariffs." Oil prices started 2025 strongly. The closing price of Brent, the benchmark for two thirds of the world's oil, peaked at more than $82 a barrel on January 15, while West Texas Intermediate, the gauge that tracks US crude, hit almost $79 per barrel also on that day. However, crude prices have since waffled and have been particularly jolted by Mr Trump's sweeping global tariffs that he announced on April 2, which have disrupted stock markets and reignited fears of a global recession, especially as US trade partners – most notably China – unleashed retaliatory levies. Since then, Brent and WTI have slipped more than 16 per cent and 15 per cent, respectively, and the uncertainty surrounding Mr Trump's flip-flopping over his tariff policies have put pressure on oil prices. In March, Opec+ said it would proceed with a 'gradual and flexible' unwinding of voluntary production cuts of 2.2 million bpd starting in April, adding 138,000 bpd per month until September 2026. The planned return of production cuts – originally made by eight Opec+ members, including Saudi Arabia, Russia, the UAE and Iraq, in November 2023 – had been pushed back several times amid concerns about growing supply in the market. In March, the alliance released a new schedule for seven member nations to make further oil output cuts to compensate for exceeding their quotas. The plan includes monthly cuts ranging from 189,000 bpd to 435,000 bpd, with the reductions scheduled to last until June 2026. Opec has been losing global market share in recent years. In 2024, their output was less than 27 million bpd, down from 30 million bpd a decade ago and after having peaked of 34 million bpd in 2016. "In addition to trying to enforce stronger discipline within the group, Opec sees [increasing output] as a good opportunity to place pressure on higher cost oil producers, including US shale, and win back some market share," analysts at Jadwa Investment said. "This policy has the added benefit of bolstering good relations with the US given President Trump's stated desire for lower oil prices to bring down inflation in the US and force a diplomatic solution to the Russia-Ukraine war." How Opec+ policy evolves during 2025 will largely depend on internal compliance issues and the broader developments in the oil market, with hikes seen to scale down should global crude inventories start to build up, they added. The UAE's Minister of Energy and Infrastructure, Suhail Al Mazrouei, this week said Opec+ should be 'mindful' about oil demand, and that the group is 'doing their best' to balance the market and ensure there is enough investment into the supply. Mr Al Mazrouei's comments are "constructive", said Giovanni Staunovo, a strategist at Swiss bank UBS. "Opec+ crude exports are stable versus April, suggesting higher compliance and domestic demand keeps exports in check," the told The National. At its ministerial meeting on Wednesday, Opec reiterated its "continued commitment ... to achieve and sustain a stable oil market".
