Advancing Solar Energy and Green Hydrogen Projects in the Middle East and North Africa
Key Ideas
- Construction of a 2 GW solar energy components industrial complex in Ain Sokhna, Egypt, backed by a $200 million investment, showcases commitment to renewable energy.
- APICORP's $50 million credit facility to SirajPower in the UAE highlights the focus on expanding distributed solar energy projects in the Middle East to lower carbon emissions.
- Inauguration of Sharjah's 60 MW utility-scale solar facility demonstrates a step towards cleaner energy sources in the region, aimed at reducing carbon footprint.
- Algeria's partnership with Hecate Renewable Energy and Tosyali Algerie for green hydrogen production signifies a move towards decarbonization of the steel sector using renewables.
The Suez Canal Economic Zone in Egypt, in collaboration with Sunrev Solar, has initiated the construction of a massive integrated solar energy components industrial complex in Ain Sokhna. With a planned area of 200,000 sq m and a significant $200 million investment, this project will unfold in two phases. The first phase, valued at $90 million, will see the establishment of two factories focused on producing 2 GW of solar cells and modules. Subsequently, the second phase, valued at $110 million, aims to localize the production of crucial raw materials like silicon ingots and wafers. In another development, the Arab Petroleum Investments Corporation (APICORP) provided a $50 million credit facility to SirajPower in the UAE to amplify its distributed solar energy projects across the Middle East, emphasizing the reduction of carbon emissions and operational costs for businesses. Ahmed Attiga, CEO of APICORP, mentioned that this investment aligns with the company's $450 million renewable energy commitment for the next four years, indicating a substantial push towards sustainable practices. Furthermore, Sharjah in the UAE celebrated the inauguration of its first utility-scale solar facility, 'SANA,' boasting a capacity of 60 MW and covering an area of 850,000 square meters. This solar project, situated near the Sajaa Gas Plant, will provide clean energy to the Sharjah National Oil Corporation's operations and contribute excess electricity to the Sharjah Electricity, Water, and Gas Authority. The project, executed in partnership with Emerge, a Masdar and EDF joint venture, will also oversee its operations and maintenance for the next 25 years. Additionally, Algeria's state-owned oil company, Sonatrach, partnered with Hecate Renewable Energy and Tosyali Algerie to explore a green hydrogen production project driven by renewables. This endeavor is aimed at reducing carbon emissions in Algeria's steel sector, showcasing a forward-looking approach towards sustainable energy solutions in the region.
Topics
Utilities
Renewable Energy
Investment
Green Technology
Manufacturing
Finance
Partnership
Sustainable Development
Solar Energy
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