Latest news with #SolarPowerPlant
CairoScene
24-05-2025
- Business
- CairoScene
China Energy Commissions Region's Largest Solar Plant in Saudi Arabia
With a capacity of 2.6 GW, the Shuaibah Solar Power Plant is set to become the Middle East's largest renewable energy facility. China Energy Engineering Corporation (CEEC) has begun commissioning the Shuaibah Solar Power Plant near Jeddah, Saudi Arabia, which is planned to become the Middle East's largest solar energy facility. Once fully operational, the plant will boast a capacity of 2.6 gigawatts and is expected to generate over 282 billion kilowatt-hours of electricity during its 35-year lifespan—offsetting approximately 20 million tonnes of carbon dioxide emissions annually. The Shuaibah project is a joint initiative between CEEC, Saudi Arabia's ACWA Power, and the Water and Electricity Holding Company (Badeel), and is a cornerstone of Saudi Arabia's Vision 2030 strategy to diversify its energy portfolio and reduce reliance on fossil fuels. The facility will feature advanced photovoltaic technologies and integrated automation systems, establishing new technical benchmarks for large-scale renewable energy infrastructure in the region.
Iraq Business
29-04-2025
- Business
- Iraq Business
Iraq and ACWA advance Najaf Solar Power Plant
By John Lee. Minister of Electricity Ziyad Ali Fadel held what he described as a productive meeting with representatives of ACWA Power of Saudi Arabia, one of the world's leading renewable energy companies, to finalise contracting procedures for the establishment of a 1,000-megawatt solar power plant in Najaf. The two sides agreed on a roadmap to expedite the completion of this strategic project, seen as a major step towards diversifying Iraq's energy sources and leveraging the country's significant solar potential to meet rising electricity demand. Minister Fadel noted that the Najaf Solar Power Plant forms part of a broader package of strategic initiatives, which also includes the 1,000-megawatt "Shams Basra" project being developed by Total of France in Basra, and another 525-megawatt project in Babil and Karbala being implemented by a local company [Al-Bilal Group]. These projects are expected to significantly strengthen Iraq's electricity network and support long-term energy sustainability. Minister of Oil, Hayan Abdul-Ghani, also met with a representative of ACWA Power at the weekend, during his visit to London. (Sources: Ministry of Electricity; Ministry of Oil)
Associated Press
12-03-2025
- Business
- Associated Press
VitrA Tiles takes an important step towards a more sustainable future
VitrA Tiles has officially opened its Aksaray solar power plant, which is now fully operational. İstanbul, March 12, 2025 -- VitrA Tiles, a leading company within the Eczacıbaşı Group, has made another key stride in advancing its sustainability objectives. The Solar Power Plant (SPP) completed in Aksaray is now operational, symbolising the company's commitment to environmentally friendly energy production. Following the 3.5 MW rooftop solar power plant commissioned in Bozüyük in 2023, the 30 MWe/36 MWp capacity SPP in Aksaray marks the second major step in VitrA Tiles' transition to green energy. With this new investment, more than half of the electricity used in Türkiye operations this year will be sourced from renewable energy. A Stronger Future with Green Energy The power plant, aimed at meeting a significant portion of VitrA Tiles' electricity needs from renewable sources, is expected to generate enough electricity to meet the annual electricity needs of approximately 19,700 households with 65,520 PV modules, each with 550 Wp capacity, and reduce carbon emissions by 37,190 tons per year. VitrA Tiles CEO Mert Karasu stated, 'We aim to produce half of our electricity consumption from our own renewable energy facilities by 2025 and all of it by 2030 and thanks to this investment, we are one step closer to our global goals by further reducing our carbon footprint. We are committed to meeting all our electricity needs from renewable sources in the future.' The Aksaray SPP project, whose installation began in April 2024, started electricity generation in February 2025, following the completion of PV modules, cable, inverter, transformer, and power transmission line installations. This project brings both environmental and economic benefits and leads the sector's transformation with its innovative approach. Organization: VitrA Tiles
Yahoo
11-03-2025
- Business
- Yahoo
GE Vernova Signs a New Partnership Deal: Buy, Hold or Sell the Stock?
GE Vernova Inc. GEV recently revealed that it has signed a new strategic partnership deal with Amazon Web Services ('AWS') to support the latter's data center expansion while addressing global energy demand, grid security and decarbonization. Under this agreement, GE Vernova will provide electrification solutions, including substation connectivity for AWS data centers, renewable energy collaboration and power generation equipment. This partnership strengthens GE Vernova's market position by expanding its role in sustainable energy solutions, making it a key player in the digital and energy transition. The aforementioned collaboration solidifies GE Vernova's growth potential in the evolving energy landscape, which may encourage investors interested in energy stocks to add GEV to their portfolio. However, before making any hasty decision, let's delve into the stock's performance over the past year, growth prospects as well as risks (if any) to investing in the same. This way, an investor can make a prudent and informed decision. Shares of GE Vernova have surged an impressive 92.9% in the past year, outperforming the Zacks Alternative-Energy industry's growth of 41.8% and the broader Zacks Oils-Energy sector's decline of 2.6%. It has also outpaced the S&P 500's rise of 12.4%. Image Source: Zacks Investment Research A similar stellar performance has been delivered by other industry players, such as Talen Energy Corporation TLN, Constellation Energy Corporation CEG and Bloom Energy BE , whose shares have surged 119.6%, 95.9% and 20.1%, respectively, in the past year. As a renowned renewable energy equipment and services provider, GEV continues to expand its footprint in the global clean energy market through multiple partnerships, robust investment in renewable energy projects and enhancement of its existing business. Impressively, in February 2025, GE Vernova announced that it will provide advanced solar technology for one of the world's largest self-consumption Solar Power Plant ('SPP') projects, with a total capacity of 1.2 gigawatts (GW). The same month, its nuclear business, GE Hitachi Nuclear Energy ('GEH'), signed MoUs with UK nuclear energy firms, Boccard and Cavendish Nuclear, to advance the development of BWRX-300 Small Modular Reactors (SMRs). In January 2025, GE Vernova committed to invest $20 million in developing next-generation repair technologies for its HA gas turbines at its Singapore-based Advanced Manufacturing Repair Technology Center. Earlier in December 2024, the company secured the Ostwind 4 project, which involves the designing and commissioning of a 2-GW High-Voltage Direct Current electric transmission system in the German Baltic Sea, connecting offshore wind to the grid. These announcements show GE Vernova's continuing efforts to expand its footprint in the clean energy industry as a major provider of sustainable energy. This must have boosted investors' confidence in this stock, as evident in the aforementioned share price hike. Global electricity consumption is expected to rise at its fastest pace in recent years, growing close to 4% annually through 2027 (as per the latest report published by the International Energy Agency in February 2025). Such impressive growth projection should bode well for GE Vernova's grid solution and power conversion revenues in the long run. To this end, it is imperative to mention that in March 2025, GE Vernova announced that its industry-leading H-Class gas turbine technology has amassed more than 3 million commercial operating hours across 116 units globally. With more HA turbines expected to come online in the coming days (to support rising electricity consumption), GEV's HA fleet should enable grid operators to dispatch power quickly and thereby offer a great complement to intermittent renewable sources. This should further enhance GEV's prowess in the renewable electric generation industry and thereby boost its operating results. In line with this, the Zacks Consensus Estimate for GEV's long-term (three-to-five years) earnings growth is pegged at a solid 18%. Let's take a quick look at its near-term estimates to get a clearer picture. The Zacks Consensus Estimate for 2025 and 2026 sales implies an improvement of 5.4% and 9.2%, respectively, year over year. A similar improvement can be witnessed in its annual earnings estimates. Also, the Zacks Consensus Estimate for 2025 and 2026 earnings per share has moved north 1.8% and 11.4%, respectively, over the past 60 days. The upward revision in earnings estimates indicates analysts' gaining confidence in the stock. Image Source: Zacks Investment Research Image Source: Zacks Investment Research Despite the aforementioned growth opportunities, GEV faces certain challenges that one should consider before investing in this stock. To this end, it is imperative to mention that the offshore wind industry has been facing increased challenges lately in the form of increased material costs and persistent supply-chain challenges. This, in turn, has led to several project cancellations in recent times. As a manufacturer of wind turbines, GEV has been experiencing pressure in its offshore wind business due to product and project costs. Changes in execution timelines or other adverse developments might affect GEV's cash collection timelines and contract profitability, resulting in losses beyond current expectations. In terms of valuation, GEV's forward 12-month price-to-earnings (P/E) is 36.40X, a premium to its peer group's average of 16.76X. This suggests that investors will be paying a higher price than the company's expected earnings growth compared to its peers. Image Source: Zacks Investment Research To conclude, investors interested in GEV Vernova should wait for a better entry point, considering its premium valuation and the challenges it is facing in the wind market. However, those who have already invested in this Zacks Rank #3 (Hold) company may continue to do so as its upbeat sales estimates, solid share price returns over the past year and upward revision in earnings estimates offer solid prospects. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Constellation Energy Corporation (CEG) : Free Stock Analysis Report Talen Energy Corporation (TLN) : Free Stock Analysis Report Bloom Energy Corporation (BE) : Free Stock Analysis Report GE Vernova Inc. (GEV) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research
Zawya
24-02-2025
- Business
- Zawya
"Ibri II" Solar Power Plant.. Oman's largest renewable energy project
Oman: The "Ibri II" Solar Power Plant is Oman's largest renewable energy project, which began operation in 2021 with a production capacity of 560 megawatts. The plant, located in Dhofar Governorate, was built on an area of 13.8 square kilometers and has around 1.5 million solar panels feeding energy to over 40,000 housing units annually. The power plant is within the Sultanate Vision 2040, which includes diversification of energy sources and includes the use of solar power. All KUNA right are reserved © 2022. Provided by SyndiGate Media Inc. (
