Latest news with #Alfanar
Time of India
2 days ago
- Business
- Time of India
Alfanar aims to set up 3-GW renewable energy portfolio in India by 2030; plans up to $700 mn equity investment
Mumbai: Alfanar , Saudi Arabia-based energy company , plans to set up 3 gigawatt (GW) of renewable energy capacity in India by 2030, Mohammed Irfan, chief executive officer, Alfanar Global Development - India, told ETEnergyWorld . 'We aim to develop a 3 GW renewable energy portfolio in India by 2030. With an equity of $400 million to $700 million depending on the mix of solar, wind, and hybrid projects,' he said in an exclusive interaction. Irfan added that for this capacity, the firm is already in discussions with major OEMs and is trying to lock in suppliers for strengthening their development pipeline before participating in the bids. 'Our first priority is hybrid and battery storage . The second priority is standalone solar more. Since our wind portfolio already exceeds 600 MW, we aim to diversify our portfolio with solar and BESS projects,' said Irfan. Regarding partnerships in India, he said that for solar modules, the company will sign long term supply agreements with domestic manufacturers for upcoming projects. In smart meters, the company already has a strategic partner for expanding two million smart meters to up to 10 million meters in the next three to four years, added Irfan. 'We are also in talks with inverter and robotic cleaning tech OEMs. In smart metering , we have a long-term strategic partnership with a climate fund for deploying two million smart meters in Bhopal and Jabalpur in Madhya Pradesh,' he said. On maintaining supply chain resilience, Irfan said that the company has localised about 85 per cent of their project components in India which includes sourcing from domestic turbine OEMs such as Suzlon and Senvion , and using local module suppliers. The company is actively positioning itself as a key player in the global renewable energy transition and has developed a portfolio of about 1.7 GW of renewable energy projects across Spain, India, and Egypt. In Spain, it has developed both wind and solar projects. It has a solar project in Egypt and about 600 MW of operational wind projects in India.
Zawya
4 days ago
- Business
- Zawya
Saudi Arabia's Alfanar eyes India's green hydrogen sector
Saudi Arabia-based Alfanar Group is preparing to enter India's emerging green hydrogen market once clearer policy and regulatory frameworks are established, a senior company executive said. Mohammed Irfan, Chief of Alfanar India told local financial newspaper The Economic Times, that unlike the renewable energy sector — where long-term power purchase agreements (PPAs) are secured through entities like NTPC and SECI — India still lacks assured offtake agreements for green hydrogen. The parent company is currently developing a green hydrogen project in Egypt and a green ammonia project in Chile, he said. Alfanar's renewable energy portfolio stands at about 1.7 gigawatts (GW) across Spain, India, and Egypt. In India, Alfanar operates a 506.5 megawatts (MW) wind power project in Gujarat with an additional 50 MW under construction. (Writing by SA Kader; Editing by Anoop Menon) (
Arab News
17-02-2025
- Business
- Arab News
Saudi minister highlights strong ties as Kingdom and Egypt sign energy efficiency deal
CAIRO: Saudi Arabia's Minister of Energy, Prince Abdulaziz bin Salman, reaffirmed the Kingdom's commitment to strengthening energy cooperation with Egypt during his address at the Egypt Energy Show on Monday. The minister was speaking after the signing of an executive plan between Saudi Arabia and Egypt aimed at enhancing cooperation in the field of energy efficiency. Under the executive plan, both countries will work together to establish a national energy efficiency program in Egypt, which will include drafting regulations and technical standards, capacity building, raising awareness, and fostering the development of energy service companies. Prince Abdulaziz emphasized the brotherly relationship between Saudi Arabia and Egypt, saying that both nations share a responsibility to lead the transformation of the energy sector and adding that the collaboration aligned with Saudi Vision 2030 and Egypt's strategic energy transformation goals. In his address, the minister thanked Egypt's leadership and its role in fostering robust relations between the two nations, and he highlighted the several major joint energy initiatives announced on Monday as ways of enhancing regional energy security and sustainability. As part of the collaboration, five new solar and wind energy projects will be launched in Egypt by Saudi companies, boasting a combined capacity of 1.696 gigawatts and an investment of about SR6.2 billion ($1.65 billion). The projects will be developed by ACWA Power, Alfanar, FAS, and MOWAH. Additionally, ACWA Power has signed a power purchase agreement with the Egyptian Electricity Transmission Company for a 2GW wind energy project in South Hurghada. With an investment of SR8.6 billion, the initiative is set to become the largest wind energy project in Egypt, further advancing the country's renewable energy ambitions. The Saudi-Egypt Electricity Interconnection Project was also highlighted as a significant step toward regional cooperation, with a SR6.7 billion investment and the ability to exchange 3,000 MW of electricity between the two nations once completed.
Zawya
12-02-2025
- Business
- Zawya
Saudi: LEAP 2025 continues groundbreaking deals with over $7.5bln in tech, AI investments
Riyadh: The global tech event LEAP 2025 witnessed a series of groundbreaking investments exceeding $7.50 billion in data centers, submarine, and fiber-optic cable networks. These investments are focused on enhancing digital infrastructure and promoting innovation in AI, further establishing Saudi Arabia as a regional hub for technology and innovation, according to a press release. DataVolt, in collaboration with NEOM, announced a significant investment of $5 billion to establish the first fully sustainable AI data center in OXAGON, with a capacity of 1.5 GW. This cutting-edge facility aims to become a global hub for advanced computing and innovation. Alfanar revealed a $1.40 billion investment to develop four data centers, with a total capacity of 88 MW. This initiative will support the growth of the digital economy and the development of business solutions in Saudi Arabia. In a strategic initiative to improve the Kingdom's digital infrastructure, Etihad Etisalat Company (Mobily) committed $911 million to develop key projects, including submarine cable networks and advanced data centers. During the LEAP 2025 event in Riyadh, the listed telecom company also entered into agreements with Ericsson through a memorandum of understanding (MoU) as well as Vodafone Business IoT, a subsidiary of the global Vodafone Group, to provide high-quality IoT connectivity services Saudi Arabia. In addition, Zoom has pledged $75 million to drive AI innovation and establish new data centres, strengthening support for tech enterprises and government entities, which will further fuel digital expansion in the region. Saudi Arabia Railways has announced a $51 million investment in a private fiber-optic network aimed at enhancing digital connectivity and expanding the country's communications infrastructure. In addition, SkyFive has highlighted Saudi Arabia's growing role as a regional hub for technological innovation by unveiling a $100 million investment in non-terrestrial network services. This will focus on pioneering Advanced Air Mobility solutions and driving innovation in this field. Also, HPE announced the expansion of 'Made in KSA' in the region, and the localisation of HPE Aruba solutions to enhance infrastructure with security-first and AI-powered networking. It is worth noting that during the four-day event, several investment funds unveiled their joint plan to invest $695 million across different tech and AI channels. Earlier on the first day of the LEAP 2025 leading platform, Saudi and international companies announced combined investments worth $14.85 billion.
Arab News
11-02-2025
- Business
- Arab News
LEAP 2025 announces $7.5bn in tech and AI investments on Day 2
LEAP 2025, the global tech event, witnessed a series of groundbreaking investments on Day 2, exceeding $7.5 billion, in data centers, submarine and fiber-optic cable networks. These investments are focused on enhancing digital infrastructure and promoting innovation in artificial intelligence, further establishing Saudi Arabia as a regional hub for technology and innovation. DataVolt, in collaboration with NEOM, announced a significant investment of $5 billion to establish the first fully sustainable AI data center in Oxagon, with a capacity of 1.5 GW. This cutting-edge facility aims to become a global hub for advanced computing and innovation. Alfanar revealed a $1.4 billion investment to develop four data centers, with a total capacity of 88 MW. This initiative will support the growth of the digital economy and the development of business solutions in Saudi Arabia. In a strategic initiative to improve the Kingdom's digital infrastructure, Mobily committed $905 million to develop key projects, including submarine cable networks and advanced data centers. In addition, Zoom has pledged $75 million to drive AI innovation and establish new data centers, strengthening support for tech enterprises and government entities, which will further fuel digital expansion in the region. Saudi Arabia Railways has announced a $51 million investment in a private fiber-optic network, which will enhance digital connectivity and expand the country's communications infrastructure. In addition, SkyFive has highlighted Saudi Arabia's growing role as a regional hub for technological innovation by unveiling a $100 million investment in non-terrestrial network services. This will focus on pioneering advanced air mobility solutions and driving innovation in this field. Also, HPE announced the expansion of 'Made in KSA' in the region, and the localization of HPE Aruba solutions to enhance infrastructure with security-first and AI-powered networking. LEAP 2025 is organized by the Ministry of Communications and Information Technology; the Saudi Federation for Cybersecurity, Programming, and Drones; Tahaluf, an alliance between SFCPD and Informa PLC; and the Events Investment Fund. The event brings together global tech leaders to exchange insights, foster connections between investors and startups, and highlight innovative technologies. LEAP features educational experiences, workshops, and thought leadership sessions, including the 'LEAP Into Innovation' by the Research, Development, and Innovation Authority. Discussions explore future-focused topics such as green hydrogen, carbon-neutral cities, sustainable mining, and space exploration. LEAP 2025 continues to solidify Saudi Arabia's leadership in the global technology landscape, driving forward a future of innovation and sustainable digital transformation.
