Advancements in Clean Energy Projects Across Africa and the Middle East
Key Ideas
- The African Development Bank Group approved a $184.1 million financing package for Egypt's 1 GW Obelisk solar project, making it the largest in Africa.
- Dubai's Mohammed bin Rashid Al Maktoum Solar Park increased capacity to 3,860 MW, with plans to reach 7,260 MW by 2030, contributing significantly to DEWA's energy mix.
- GameChange Solar secured a contract for a 450 MWp solar project in Oman, targeting green hydrogen and ammonia production, with a future capacity of 0.9 million tons of green ammonia annually.
- Tinci Materials Technology announced a $280 million investment in a battery materials plant in Morocco to support the global electric vehicle market, with production of 150,000 tons of battery electrolytes annually.
The African Development Bank Group has approved a substantial financing package of up to $184.1 million to support Egypt's 1 GW Obelisk solar project in the Qena Governorate. This project, with a total investment exceeding $590 million, will also incorporate a 200 MWh battery energy storage system, making it the largest solar project in Africa. The financing comprises contributions from various entities like the Sustainable Energy Fund for Africa and the Canada-AfDB Climate Fund. Meanwhile, Dubai Electricity and Water Authority's Mohammed bin Rashid Al Maktoum Solar Park has expanded its production capacity to 3,860 MW, aiming to reach 7,260 MW by 2030, significantly boosting DEWA's energy mix with solar and concentrated solar power technologies. In Oman, GameChange Solar has secured a contract to supply its solar system for a 450 MWp project that will power green hydrogen and ammonia production facilities. This project, covering 92 sq km, aims to produce substantial amounts of green ammonia annually. Additionally, Tinci Materials Technology's $280 million investment in Morocco will establish a plant producing battery electrolytes and key components for the electric vehicle market. The Moroccan government is supporting this initiative with incentives and subsidies, further promoting sustainable development.