Egypt has entered into a landmark €7 billion (~$7.58 billion) agreement with France’s EDF and UAE-based Zero Waste to develop a large-scale green hydrogen project near the Gulf of Suez. The initiative aims to produce over one million tons of green ammonia annually, primarily for use as shipping fuel for vessels navigating the Suez Canal.
Spanning 420 sq km, the project will integrate wind and solar power facilities to support its operations. Additionally, the consortium plans to construct a 400m-long shipping dock for the Red Sea Ports Authority and establish a seawater desalination unit to ensure efficient project execution.
Dubai recorded a 5.4% increase in energy demand in 2024, reaching 59,594 GWh compared to 56,516 GWh in 2023. According to Saeed Mohammad Al Tayer, Managing Director and CEO of the Dubai Electricity and Water Authority (DEWA), this rise is attributed to population growth and economic expansion.
DEWA’s installed generation capacity now stands at 17.179 GW, with clean energy contributing 20% of the total supply. Peak demand in 2024 reached 10.76 GW, reflecting a 3.4% increase from the previous year. Al Tayer also provided an update on the sixth phase of the Mohammad Bin Rashid Al Maktoum Solar Park, which is currently 53% complete. With a planned capacity of 1,800 MW, 600 MW has already been commissioned. The AED 5.5 billion (~$1.50 billion) project, developed under an independent power producer model, will cover 20 sq km and supply clean energy to around 540,000 homes upon completion.
EDF Renewables North America and Masdar have signed a power purchase agreement with Soluna Holdings to supply up to 166 MW of energy from the Las Majadas Wind project in Texas. Soluna plans to utilize this renewable power for its new data center, Project Kati, which will be located near the wind project’s substation.
The Las Majadas Wind project, operational since 2021, has a total capacity of 273 MW and plays a crucial role in expanding renewable energy infrastructure in North America.
The Arab Energy Fund and Hartree Partners have announced the launch of TAEF Hartree Cleantech, a $120 million investment platform dedicated to decarbonization technologies in the U.S. and Europe. Based in the UK, the platform will support venture capital-stage companies developing both physical and digital cleantech solutions.
Hartree Partners, which has been investing in cleantech since 2020, focuses on carbon markets and industrial decarbonization. Its portfolio includes 10 companies specializing in emissions verification, geospatial data analytics, and climate change adaptation technologies.
Lulu Retail, in collaboration with the Kanoo-CleanMax joint venture, has completed its first solar project in Saudi Arabia at its Riyadh Central Warehouse. The 502.7 kWp rooftop solar installation is expected to generate 846 MWh of clean energy annually. The project is among the first to be integrated into the Saudi Electricity Company’s grid, marking a step forward in the country’s renewable energy initiatives.
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