MENA News

The European Union on Tuesday launched a Mediterranean clean energy initiative that will mobilise up to up to EUR 25 billion (USD 28.9bn) in public and private investment by 2035 to tap into the massive wind, solar and green hydrogen potential of North Africa and the Middle East (MENA) and set up clean technology manufacturing across the region.

Dubai-based Alcazar Energy has signed a deal to acquire and operate the 580-MW Gabal El Zeit wind farm on the Red Sea coast in Egypt with an investment value of USD 420 million (EUR 363m), the country’s Presidency announced on Monday.

Oman is looking for a consultant for a 280-MW solar project which will power the Marsa LNG plant, currently under construction in northern Oman.

The European Bank for Reconstruction and Development (EBRD) said on Friday it will extend up to USD 12.1 million (EUR 10.5m) in debt financing to Jordan-based Kawar Energy to back its renewable energy operations.

Oman’s Authority for Public Services Regulation (APSR) has opened 13 technical bids in a tender seeking a consultant for a 1 GW / four-hour battery energy storage system (BESS) project in the Sultanate.

French energy solutions provider Axens has joined forces with Qatar-based sustainable aviation fuel (SAF) platform Green Sky Capital to set up a SAF production facility in Egypt, aiming to commence operations by end-2027.