ACWA triumphs again in Middle Eastern tendering exercise
With no details reported on the final electricity price agreed for a 500 MW solar project to be built in Oman, speculation will center on whether the victorious Saudi power company and its Kuwaiti partners have again trumped lower offers from overseas rivals.
Dubai’s DEWA seeks proposals for phase V of 5 GW Mohammed bin Rashid Al Maktoum Solar Park
The utility has issued a request for qualification for a further 900 MW of PV at the huge solar park, which is set to reach a total capacity of 5 GW.
Developers in the dark over reported 25% hike in Benban investment costs
The association that represents developers operating at the 1,465 MW solar project in Egypt – due for completion in June – say they have been told nothing about a rumored rise in investment costs caused by more expensive construction materials.
Middle East solar pioneers have their efforts recognized
DEWA projects featured strongly in this year’s accolades but there was also recognition for projects beyond the region and some eye-catching innovations.
ACWA Power sells 24% stake in 700 CSP project to Chinese concern
The Saudi-based energy company has sold a 24.01% stake in its 700 MW CSP project to China’s Silk Road Fund.
Jordan unveils who will participate in 300 MW solar, wind auction
Jordan’s Energy Minister says 45 companies have been selected as finalists to bid for the upcoming 300 MW solar and wind auction. Technical and financial details are to be submitted by the end of March.
ACWA Power to adopt SolarCoin
The Saudi energy company said it will be the world’s first utility-scale generator joining the SolarCoin ecosystem, and that it will be “rewarded for helping build a more sustainable future.”
$102.6 million guaranteed for 250 MW Egyptian PV project
World Bank Group member, the Multilateral Investment Guarantee Agency (MIGA), has pledged to provide financial support for six solar power plants in Egypt, the accumulative capacity of which stands at 250 MW.
Acwa Power secures financing for 61.3 MW Jordan project
The project’s lenders are the European Bank for Reconstruction and Development (EBRD), Deutsche Investitions- Und Entwicklungsgesellschaft Mbh (DEG) and Arab Bank to Risha for Solar Power Projects PSC. The facility will be built in the eastern province of Risha by the first quarter of 2019.
EBRD earmarks $22 million for 50 MW Jordan PV plant, $100 million for green bonds
The European Bank for Reconstruction and Development is providing a US$22 million shot in the arm for a 50 MW solar power plant in the Risha region developed by Saudi ACWA Power. The bank has also announced plans to invest up to $100 million to back development of the green bond markets, and pledged its support to city climate projects allocating over $500 million with an eye to scaling up green urban financing.
