Latest news with #SolarPark
Yahoo
26-04-2025
- Business
- Yahoo
DTE Energy (NYSE:DTE) Unveils Pine River Solar Park, Highlighting Renewable Energy Expansion
DTE Energy celebrated the completion of the Pine River Solar Park, marking its commitment to renewable energy and sustainability, aligning with Michigan's clean energy goals. Over the last quarter, the company's stock recorded a 13% increase, which outpaced the broader market's 5% rise over the last week and 8% over the past year. While the groundbreaking of the Cold Creek Solar Park and the Pine River project underscored DTE's clean energy initiatives, these developments added weight to the company's upward trajectory, complementing broader market gains and a positive outlook for earnings growth. We've identified 3 possible red flags for DTE Energy (1 shouldn't be ignored) that you should be aware of. Trump has pledged to "unleash" American oil and gas and these 22 US stocks have developments that are poised to benefit. The completion of DTE Energy's Pine River Solar Park aligns with its broader clean energy initiatives, potentially strengthening its future revenue and earnings growth. This development, coupled with the groundbreaking of the Cold Creek Solar Park, signals a commitment to renewable energy, supporting the company's planned investment of $30 billion to enhance grid reliability. This focus could lead to increased revenue streams by attracting environmentally conscious consumers and meeting progressive regulatory standards. Over the past five years, DTE Energy's total return, including share price and dividends, was 85.85%. This notable long-term performance can be seen against the backdrop of a 13% share price increase over the last quarter, compared to the broader market's recent rise. However, over the past year, DTE's growth has outshone the market with its one-year return exceeding the US Market, which achieved a 7.9% return. The recent news around the company's transition toward clean energy is likely to underpin its revenue and earnings forecasts. Analysts expect DTE's revenue to grow at an annual rate of 4.3% over the next three years, with earnings potentially reaching US$1.7 billion by 2028. With a current share price of US$135.8 and a consensus price target of US$139.84, the stock appears to trade at a slight discount, suggesting potential room for price appreciation if the company meets or exceeds these growth expectations. Understand DTE Energy's earnings outlook by examining our growth report. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include NYSE:DTE. Have feedback on this article? Concerned about the content? with us directly. Alternatively, email editorial-team@ Sign in to access your portfolio
Hi Dubai
10-04-2025
- Business
- Hi Dubai
Dubai's Solar Ambitions Soar: 47 Global Firms Eye Landmark Phase of Mohammed bin Rashid Al Maktoum Solar Park
Dubai Electricity and Water Authority (DEWA) has revealed that 47 international firms have expressed interest in developing the seventh phase of the Mohammed bin Rashid Al Maktoum Solar Park — a project poised to be among the world's largest solar-plus-storage initiatives. Announced by Saeed Al Tayer, MD & CEO of DEWA, during a high-level forum at the Ritz Carlton Dubai, the development will follow the Independent Power Producer (IPP) model and marks a major step in Dubai's clean energy transition. The event brought together over 100 global solar and storage industry leaders. 'Inspired by the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, we are committed to a sustainable future. This new phase is not just a project, but a promise to generations ahead,' said Al Tayer. The seventh phase will deliver over 1,600 megawatts (MW) of solar power and feature a 1,000MW battery storage system with a capacity of 6,000 megawatt-hours. Phased commissioning is set between 2027 and 2029. By 2030, it is expected to generate 4.5 terawatt-hours of clean electricity annually—eliminating the need to burn 36 billion cubic feet of natural gas and cutting carbon emissions by eight million tonnes each year. This milestone will push clean energy's share in Dubai's energy mix to 34%, surpassing the original 25% target. With the solar park's total planned capacity rising to 7,260MW, Al Tayer noted that this positions Dubai as a global leader in the low-carbon energy shift. Backed by a strategic partnership with a Deloitte-led consortium, the project is structured for regulatory compliance, investor outreach, and long-term sustainability. 'The global interest from 47 companies across 17 countries is a strong vote of confidence in Dubai's green energy vision,' Al Tayer concluded. News Source: Emirates News Agency
Gulf Today
09-04-2025
- Business
- Gulf Today
Global firms express interest in building 7th phase of solar park
Saeed Al Tayer, MD & CEO of Dubai Electricity and Water Authority (Dewa), has announced that 47 international companies are interested in developing the seventh phase of the Mohammed Bin Rashid Al Maktoum Solar Park, which is based on the independent power producer (IPP) model. Al Tayer made the announcement during a Dewa forum at the Ritz Carlton hotel in Dubai, attended by about 100 representatives of leading solar energy and storage companies globally. 'Guided by His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, Dubai is firm in its ambitions to become a global beacon of sustainability and innovation. The Dubai Clean Energy Strategy 2050 and the Dubai Net Zero Carbon Emissions Strategy 2050 are not merely aspirations - they are a promise to future generations that 100% of Dubai's energy will come from clean sources by 2050. Today, Dubai Electricity and Water Authority is moving forward with the seventh phase of the Mohammed bin Rashid Al Maktoum Solar Park, a key milestone in our clean energy transition journey,' said Al Tayer in his opening speech. He explained that the seventh phase will have a production capacity exceeding 1,600 megawatts (MW) and 1,000MW battery storage system providing 6,000 megawatt-hours. Scheduled for phased commissioning between 2027 and 2029, the seventh phase will be one of the world's largest solar-plus-storage projects, generating 4.5 terawatt-hours of clean electricity annually by 2030. Its impact will be profound as it will curb reliance on natural gas, eliminating the need to burn 36 billion cubic feet annually and reducing carbon emissions by eight million tonnes each year. This will boost the share of clean energy in the Emirate's energy mix to 34%, surpassing the initial target of 25%. 'Elevating the solar park's planned capacity to 7,260 megawatts, the seventh phase positions Dubai as a global leader in the transition to a low-carbon economy. DEWA's collaboration with a global consortium led by Deloitte ensures strategic alignment with national priorities, regulatory compliance, financial structuring and global investor outreach. The overwhelming interest from 47 companies from 17 nations reflects global confidence in Dubai's vision,' added Al Tayer. Last month, Saeed Mohammed Al Taye launched Dewa's strategic roadmap to become the world's first AI-native utility, leveraging artificial intelligence (AI) across all core operations Al Tayer made this announcement during GenAI Week, organised by DEWA to explore the future of AI adoption within the organisation. The event featured Dewa experts and specialists alongside representatives of leading AI companies, including Microsoft, IBM, ServiceNow and DataRobot to discuss AI-driven transformation and its applications. The four-day event at Dewa's headquarters included the GenAI Week conference, which outlined Dewa's vision for integrating AI across its operational and service landscape. Attendees took part in workshops, panel discussions and interactive lectures covering topics such as deep learning, AI neural networks and automation.
Trade Arabia
09-04-2025
- Business
- Trade Arabia
47 global firms in race for key phase of MBR Solar Park project
Dubai Electricity and Water Authority (Dewa) has announced that 47 international companies have expressed interest in developing the seventh phase of the Mohammed bin Rashid Al Maktoum Solar Park, which is based on the independent power producer (IPP) model. The Phase VII will boast a production capacity exceeding 1,600 megawatts (MW) and 1,000MW battery storage system providing 6,000 megawatt-hours. Scheduled for phased commissioning between 2027 and 2029, the seventh phase will be one of the world's largest solar-plus-storage projects, generating 4.5 terawatt-hours of clean electricity annually by 2030. Its impact will be profound as it will curb reliance on natural gas, eliminating the need to burn 36 billion cu ft annually and reducing carbon emissions by eight million tonnes each year. This will boost the share of clean energy in the emirate's energy mix to 34%, surpassing the initial target of 25%, it stated. Announcing this today (April 9) at a key forum held in Dubai, Saeed Al Tayer, the MD & CEO, said: "Today, Dewa is moving forward with the seventh phase of the Mohammed bin Rashid Al Maktoum Solar Park, a key milestone in our clean energy transition journey." "Elevating the solar park's planned capacity to 7,260 MW, the seventh phase positions Dubai as a global leader in the transition to a low-carbon economy," saated Al Tayer at the event which was attended by about 100 representatives of leading solar energy and storage companies globally. According to him, Dewa's collaboration with a global consortium led by Deloitte ensures strategic alignment with national priorities, regulatory compliance, financial structuring and global investor outreach.
Zawya
09-04-2025
- Business
- Zawya
47 companies from 17 countries submit EOIs for Phase 7 of Dubai's MBR solar park
Dubai Electricity and Water Authority (DEWA) announced on Wednesday that 47 international companies have expressed interest in developing the seventh phase of the Mohammed bin Rashid Al Maktoum Solar Park (MBR Solar Park) in Dubai. In February 2025, Zawya Projects reported that DEWA has invited Expression of Interest (EOI) submissions to build and operate the seventh phase comprising a solar photovoltaic (PV) power plant combined with Battery Energy Storage System (BESS) with an aggregate capacity of 1,600 MWac up to 2000 MWac in solar PV and 1,000 MW in BESS (six hours storage or 6,000 MWh). According to DEWA's press statement, the project is scheduled for phased commissioning between 2027 and 2029 and will be one of the world's largest solar-plus-storage projects under the Independent Power Producer (IPP) model, generating 4.5 TWh of clean electricity annually by 2030. "Elevating the solar park's planned capacity to 7,260 MW, the seventh phase positions Dubai as a global leader in the transition to a low-carbon economy," the statement said, quoting DEWA's MD and CEO Saeed Mohammed Al Tayer. The DFM-listed utility said the project will save 36 billion cubic feet of natural gas annually, reduce carbon emissions by eight million tonnes per annum and boost the share of clean energy in Dubai's energy mix to 34 percent, surpassing the initial target of 25 percent. (Writing by Deva Palanisamy; Editing by Anoop Menon)
