Middle East

The funds, provided by the European Bank for Reconstruction and Development, will help utility NEPCO repay short-term debt, as well as financing expansion of the grid’s capability to increase the share of solar and other renewable energy.

Jordan has taken great strides to green its energy mix. In addition to the successful implementation of many large-scale projects, small PV systems – mainly under the net metering scheme – are booming in the country.

Only three consortia are now competing to build huge solar park: one formed by Masdar, Total and Jinko; another led by Saudi energy company ACWA; and a third group of companies led by Japan’s Marubeni Corporation and the Oman Gas Company (OGC). The tender is expected to be finalized early next year.

The seventh round of funding under the Abu Dhabi Fund for Development program takes to US$350 million the amount pumped into clean energy as part of state-run energy transition strategies in the developing world.

The project, tendered by the Saudi authorities in February, will be built by a new company which is 70% controlled by the energy giant and 30% by contractor AlGihaz Holding. The plant will sell power to the Saudi Power Procurement Company at $0.0236/kWh.

Caterpillar-branded SunPower modules will be available in Southeast Asia, Africa, South America, and the Middle East – but not yet the United States.

The European Bank for Reconstruction and Development (EBRD) yesterday unveiled details for Lebanon’s first Green Economy Financing Facility (GEFF), the largest thus far in the bank’s Southern and Eastern Mediterranean region (SEMED). The GEFF program is set to address key issues of energy security, efficiency and sustainability for the Middle Eastern country.

Prime minister has announced a tough new renewable energy target, which will build on the current ambition of generating 12% of the nation’s electricity and heat from renewables in little over a year’s time.

The Dubai Water and Electricity Authority (DEWA) has announced it will expand Phase IV of the 5 GW Mohammed bin Rashid Maktoum Solar Park by another 250 MW. The power utility has also revealed that the PPA with the project developer, local energy giant ACWA Power has been amended, and that the new PV portion of Phase IV, which originally included only a 700 MW CSP power plant planned to sell power at $0.073/kWh, will sell power at a tariff of $0.024/kWh. This price equals that of a 1.17 GW solar project currently under construction in Abu Dhabi.

The inverter maker took number one spot in the US from SMA this year, and acquired majority stakes and IP in uninterrupted power supply company Gamatronic and storage system provider Kokam. While other companies have consolidated, SolarEdge managed to report robust results.