Latest news with #ACWAPower
Borneo Post
2 days ago
- Business
- Borneo Post
Saudi's ACWA Power reaffirms S'wak green hydrogen partnership, eyes NEOM-scale development
Abang Johari (sixth right), Mohammad Abunayyan on his left, join Abdul Aziz (sixth left) in a photocall with the delegation. – Photo from Sarawak Premier's Office KUCHING (Aug 8): ACWA Power founder and chairman Mohammad Abunayyan paid a courtesy visit to Sarawak Premier Datuk Patinggi Tan Sri Abang Johari Tun Openg today, reaffirming the company's strategic partnership with SEDC Energy Sdn Bhd (SEDCE) to develop large-scale green hydrogen projects in the state. According to a press release, the visit underscores ACWA Power's commitment to replicate the scale and ambition of its flagship NEOM Green Hydrogen Project in Saudi Arabia for Sarawak. Currently under development, NEOM is the world's largest green hydrogen project, targeting 4GW of renewable power to produce 600 tonnes of green hydrogen per day. The US$8.4 billion initiative aims to position Saudi Arabia as a global leader in the hydrogen economy ― a vision aligned with Sarawak's clean energy vision. The collaboration is also part of ACWA Power's US$10 billion investment commitment to Malaysia, announced during the Asean-GCC Summit in May this year, with Sarawak expected to benefit from infrastructure, technology transfer, and economic spillovers. In Sarawak, ACWA Power and SEDCE are jointly exploring the development of a green hydrogen facility powered by up to 4GW of captive renewable energy, delivering 2GW of electrolyser capacity for both export and domestic decarbonisation. The companies formalised the basis of this collaboration through an agreement signed last year. Both parties are also in discussions with Sarawak Energy Berhad (SEB) to explore floating solar projects in Batang Ai and Murum hydroelectric dams, and with the State Ministry of Utilities and Telecommunications and the State Ministry of Energy and Environmental Sustainability to ensure regulatory alignment. The cooperation supports Sarawak's Post Covid-19 Development Strategy (PCDS) 2030, the National Energy Transition Roadmap (NETR), and the Sarawak Hydrogen Economy Roadmap (HETR), while strengthening clean energy ties between Malaysia and Saudi Arabia. Also present at the meeting were Sarawak Economic Development Corporation (SEDC) chairman Tan Sri Datuk Amar Abdul Aziz Husain, general manager Datu Abdul Hadi, chief investment officer Haji Zainnurain Othman, SEDCE CEO Dennis Harun Wong, ACWA Power senior advisor to the chairman Tan Sri Azman Mokhtar, country director Mathew Chandapillai, executive vice-president of business development (Middle East/Global Water) Udyan Seth, director of business development and projects Azhari Sulaiman, and Advisor to Chairman ACWA Power Co Dato JIV Sammanathan. Abang Johari ACWA Power green hydrogen projects SEDCE
Zawya
2 days ago
- Business
- Zawya
Iraq launches new solar power project
Iraq has launched a new solar power project as part of an intensified drive to tackle a post-war electricity shortage that has been worsened by lower Iranian gas supplies. The new plant will generate 300 megawatts (MW) and involves the installation of half a million solar panels. The project is located in the central Karbala governorate and is expected to be Iraq's first operational solar energy plant. 'This is the country's first operational solar energy project which will be part of the national power network,' electricity minister Ziad Fadhil said at the weekend. Fadhil told the official Iraqi News Agency (INA) that the project spans an area of nearly 10 million square metres and is one of the most important solar power projects in Iraq as it is being constructed by local companies. TotalEnergies is building a 1,000 MW solar power plant while ACWA Power of Saudi Arabia and the UAE's Masdar are expected to sign deals for two similar facilities with 1,000 MW production capacity each. (Writing by Nadim Kawach; Editing by Anoop Menon) (
Leaders
3 days ago
- Sport
- Leaders
Saudi Ambassador Participates in Bolivia's 200th Independence Anniversary
Less than a minute Less than a minute Dr. Faisal Ghulam, Saudi Ambassador to Brazil, represented Saudi Arabia at the bicentennial celebration of the Plurinational State of Bolivia's independence. The commemorative event took place in Sucre, where Bolivian President Luis Arce received dignitaries and representatives from numerous countries and diplomatic missions. Related Topics : Saudi FM Takes Part in GCC Ministerial Meeting in Kuwait ACWA Power signs MoU with Saudi EXIM Bank to cooperate on knowledge sharing SAUDI ARABIAN AIRLINES (SAUDIA) FEATURES 'BORN A KING' FILM ONBOARD FIFA 2025 Club World Cup: First Round Schedule, Live Results & Scorers Short link :
Arabian Post
3 days ago
- Business
- Arabian Post
ACWA Power Secures Major Solar Projects in Morocco
Greenlogue/AP ACWA Power, a Saudi-listed leader in the global energy transition, has secured the Noor Midelt 2 and Noor Midelt 3 solar projects in Morocco. The projects were awarded following an international tender process facilitated by the Moroccan Agency for Sustainable Energy. These two projects are set to significantly contribute to Morocco's efforts to diversify and expand its renewable energy capabilities. Both Noor Midelt 2 and Noor Midelt 3 will be state-of-the-art photovoltaic power plants, each boasting a 400 MWp capacity, accompanied by an impressive 602 MWh battery energy storage system. These solar plants will be equipped with peak hour storage capacity, enabling a 230 MWac output for two-hour periods. The focus on energy storage will ensure that the plants can supply electricity even when sunlight is unavailable, addressing the intermittency issues typical of solar energy. ADVERTISEMENT Under the Build-Own-Operate model, ACWA Power will have full control over the development, construction, and operation of the plants. The projects will be secured through a 30-year power purchase agreement, which will see MASEN as the off-taker, ensuring a stable and long-term revenue stream. This deal is part of Morocco's broader strategy to meet its ambitious renewable energy targets, including increasing the share of renewables in the national energy mix. The projects are designed not only to meet Morocco's peak electricity demands but also to enhance grid flexibility. By integrating advanced energy storage solutions, Noor Midelt 2 and Noor Midelt 3 will help stabilise the grid, particularly during high-demand periods when renewable generation may fluctuate. This is especially crucial for a country like Morocco, which is heavily investing in renewables to reduce its dependence on fossil fuels. The renewable energy sector in Morocco has seen rapid growth in recent years, supported by both government policy and international investment. ACWA Power's successful bid for these two major solar projects is a testament to its expertise and leadership in the global energy transition. By adding these plants to its growing portfolio of renewable projects, the company underscores its commitment to advancing sustainable energy solutions. The Noor Midelt 2 and Noor Midelt 3 projects align with Morocco's goal to achieve a 52% renewable energy share in its power generation by 2030. These solar plants will play a critical role in reaching that target, contributing significantly to the country's reduction of carbon emissions. The projects are expected to help avoid approximately 1.2 million tonnes of carbon emissions annually, further strengthening Morocco's position as a regional leader in renewable energy. Morocco's renewable energy ambitions have positioned it as a key player in the global energy market, attracting major international investors like ACWA Power. This partnership is expected to set a benchmark for similar projects across North Africa and the Middle East, where countries are looking to transition away from fossil fuels in pursuit of more sustainable and greener energy solutions. With the Noor Midelt projects, ACWA Power is making a substantial impact in the Middle East and North Africa region, where solar energy is seen as a critical component of the future energy landscape. The strategic location of Morocco, with its high levels of solar radiation, makes it an ideal location for large-scale solar power plants. The collaboration between MASEN and ACWA Power highlights the effectiveness of public-private partnerships in advancing national energy transitions. The Moroccan government's long-term energy plans also focus on enhancing the country's energy security, ensuring that it can meet both domestic demand and export electricity to neighbouring regions. By diversifying its energy sources and investing heavily in renewables, Morocco is not only safeguarding its energy future but also positioning itself as a regional energy hub, with the potential to export renewable energy to Europe and other neighbouring countries.
The Sun
3 days ago
- Business
- The Sun
ACWA Power boosts Malaysia's clean energy leadership with regional hub
KUALA LUMPUR: ACWA Power's decision to establish its Southeast Asian hub in Malaysia reinforces the country's role as a regional leader in sustainable energy. Prime Minister Datuk Seri Anwar Ibrahim highlighted this as a milestone in Malaysia-Saudi Arabia collaboration following discussions at the ASEAN-GCC Summit. The Riyadh-based company signed an MoU with MIDA in May to advance clean energy projects nationwide. ACWA Power aims to achieve a 12.5-gigawatt capacity by 2040, backed by an estimated US$10 billion investment. Anwar noted the investment aligns with Malaysia's energy transition policy, creating skilled jobs and enabling technology transfer. The firm is partnering with TNB Power Generation, UEM Lestra, and Terengganu Incorporated to develop renewable energy, hydrogen, and CCGT projects under the NETR framework. - Bernama
