Nebras Power acquires 9.9% stake in Amin Renewable Energy

DOHA: Nebras Power has completed the acquisition of a 9.9% equity stake in Amin Renewable Energy Company (AREC) in Oman, which is the owner of Project Amin. The transaction is a continuation of Nebras’s strategy implementation to enhance its asset base through attractive PPA opportunities and expands its presence in… Continue reading

Solar Frontier Americas acquires megasolar project in Colarado, USA

TOKYO: Solar Frontier Americas Inc., a consolidated subsidiary of Idemitsu Kosan Co.,Ltd. has purchased a megasolar project in the State of Colorado, U.S. (Project name: Pioneer; power generation scale: 100 MWp; Commercial operation scheduled to start in 2020), currently in its pre-construction phase, from GCL New Energy, Inc., a wholly-owned… Continue reading

IRENA and RES4Africa partner to accelerate renewables in Africa

LONDON: International Renewable Energy Agency (IRENA) and the RES4Africa Foundation have agreed to cooperate to increase the speed of renewable energy development in Africa in the pursuit of the continent’s sustainable development and climate goals. The ‘Letter of Intent’ signed on 15 July 2019 in Rome, will see the two parties work… Continue reading

Greenko raises $824 million in equity funding for its business plan through rights issue

SINGAPORE: Greenko Energy Holdings, one of India’s leading renewable energy companies, has announced the signing of definitive agreements for a primary equity raising of US$ 824million, which includes a previously announced US$495 million raising towards IREP Projects Equity commitment, from an affiliate of GIC and by the Abu Dhabi Investment… Continue reading

IRENA-ADFD partnership delivers 10MW solar PV project in Cuba

ABU DHABI, UAE: Cuba’s Ministry of Energy and Mines together with the Abu Dhabi Fund for Development (ADFD) and International Renewable Energy Agency (IRENA), inaugurated a new 10 megawatt (MW) solar PV project in the country. The grid-connected project was financed by ADFD under the IRENA/ADFD Project Facility and will… Continue reading

UAE and IRENA sign agreement to explore integrating renewables into education system

ABU DHABI, UAE: The UAE Ministry of Education and the International Renewable Energy Agency (IRENA) signed an agreement to cooperate on the integration of renewable energy and sustainable development into the national education system. The Memorandum of Understanding (MoU) was signed by His Excellency Hussain Ibrahim Al Hammadi, the U.A.E…. Continue reading

Dubai Refreshment PJSC unveils mega solar power project in Dubai

DUBAI, UAE: Dubai Refreshment PJSC, the leading food and beverage company, producer and sole distributor of PepsiCo products in Dubai, Sharjah and Northern Emirates, has announced the inauguration of a large solar power plant at its manufacturing facility in Dubai Investment Park-2.[the_ad id=”31605″]A ceremony was held at the company’s facilities… Continue reading

All upcoming renewable energy projects to be treated under RE Policy 2019

ISLAMABAD: The Cabinet Committee on Energy (CCoE) in its meeting chaired by Finance Minister Asad Umar on Wednesday, approved proposals from Power Division providing for all future Renewable Energy investments to be treated in line with the RE Policy 2019 that envisages a framework consistent with the current international market… Continue reading

State Bank of Pakistan issues three Shariah compliant refinance schemes

KARACHI: State Bank of Pakistan has issued three Shariah Compliant Refinance Schemes that are expected to provide level playing field to the Islamic banking industry. Currently, SBP offers various subsidized refinance facilities to the banks / DFIs to channelise the funds into priority sectors. It is worth mentioning here that… Continue reading

Sukkur IBA University producing clean, renewable energy: VC

Energy requirements are rising with continuous increase in the population. Government of Pakistan is struggling hard to cope with the rising energy deficit, but unfortunately the gap between demand and supply is widening day by day. Keeping an eye over the gravity of the situation, Sukkur IBA University taking step… Continue reading