Speaking at the CERAWeek conference in Houston, Saudi Aramco Chief Executive Amin Nasser said that the current transition strategy is visibly failing on most fronts. adding that this is "hardly the future picture some have been painting." Fossil fuels accounted for 82% of global consumption last year.

Masdar to buy 50 percent stake in Terra-Gen from ECP.

Cairo, Egypt--Egypt has signed seven Memoranda of Understanding (MoUs) on Wednesday in green hydrogen and renewable energy with seven global developers with expected investments worth $41 billion over ten years, the Egyptian Government announced. Egyptian Minister of Planning and Economic Development Hala Al-Saeed said that the agreements represent a new...

Abu Dhabi, UAE--The UAE Ministry of Investment has signed three memorandums of understanding (MoUs) with India, setting out frameworks for the expansion of bilateral investment cooperation in the renewable energy, food processing and healthcare sectors. The agreements were signed by the respective Indian ministries, underscoring the UAE’s strong commitment to...

Hong Kong - The government of Oman’s targets to expand local green hydrogen production could support key credit metrics, such as GDP, fiscal revenue and the balance of payments, over the long term against the backdrop of the global energy transition, says Fitch Ratings. Uncertainty around potential outcomes remains high at...

Dubai, UAE--The Arab Coordination Group (ACG), a strategic alliance comprising regional and international development institutions, announced at COP28 an allocation of US$10 billion until 2030. This funding is meant to drive a comprehensive and affordable transition to renewable energy in developing countries. The commitment is an integral part of a...

The discussions between the UAE president and the Cuban president at Expo City Dubai focused on cooperation in various fields particularly in the economic, investment, developmental, renewable energy, and sustainability sectors, aiming to broaden their scope to fulfil the aspirations of both nations for development and prosperity.

Spanish energy company Iberdrola announced £7 billion of funding for offshore wind infrastructure while US tech giant Microsoft plans to invest £2.5 billion in artificial intelligence (AI) infrastructure, including data centers.

Dubai, UAE--DP World and the International Renewable Energy Agency (IRENA) have signed a cooperation agreement to accelerate the use of renewable energy and cut emissions from the ports and maritime logistics sector. Signed by IRENA Director-General Francesco La Camera and DP World Group Chairman and CEO Sultan Ahmed bin Sulayem,...

Abu Dhabi, UAE--Abu Dhabi Future Energy Company (Masdar) has signed an agreement with Emirates Steel Arkan to develop a pioneering project utilising green hydrogen to reduce carbon emissions in the UAE's energy-intensive steel industry. Marking the first of its kind in the Middle East and North Africa region, this innovative...

Dubai, UAE -- Abu Dhabi-based Fertiglobe, a strategic partnership between ADNOC and OCI Global, has completed the maiden shipment of the world's first internationally recognized renewable ammonia with ISCC PLUS (International Sustainability and Carbon Certification) certification. The renewable ammonia, generated at Fertiglobe's facilities in Egypt utilizing renewable hydrogen from its...

Riyadh, Saudi Arabia -- The Saudi Power Procurement Company (SPPC) has released request for qualification (RFQ) for the fifth round of solar projects under the National Renewable Energy Program (NREP) which is led and supervised by the Ministry of Energy. The combined capacity of Round 5 projects is approximately 3700...

The emirate’s solar energy capacity has increased by over 100 times in the past decade, and the cost of solar energy has fallen dramatically. It is now one of the cheapest places in the world to generate solar power.

Dubai, UAE-- Dubai Electricity and Water Authority (DEWA) has held discussions with a delegation from Germany on how to boost cooperation in clean and renewable energy. In this regard, Saeed Mohammed Al Tayer, MD and CEO of DEWA), received a high-level delegation from the German region of Lusatia, led by...

Jakarta, Indonesia-- The UAE and Indonesia have discussed mechanisms to expand regional cooperation and opportunities for trade and investment cooperation between the two countries. In this connection the two countries have reviewed a number of economic and investment issues of common interest in the fields of energy, mining, tourism, real...

The IEA's annual World Energy Outlook, due out next month, will show that "the world is on the cusp of a historic turning point," executive director Fatih Birol wrote in the FT.

In non-OECD countries, just the saving over the lifetime of new capacity additions in 2022 will reduce costs by up to US$580 billion, according to the Renewable Power Generation Costs in 2022, published by the International Renewable Energy Agency (IRENA).

Amman, Jordan--Jordan is urging "companies and institutions" to switch to renewable and sustainable energy to reduce operating costs. In this regard, the kingdom's Minister of Energy and Mineral Resources Saleh Kharabsheh said Tuesday opportunities exist for cooperation to cut energy consumption across various sectors through implementing programs similar to those...

ABU DHABI, UAE – ADNOC and the National Central Cooling Company (Tabreed) on Monday announced a breakthrough following the conclusion of testing on two geothermal wells at Masdar City here. The landmark project, the first in the Gulf region, is set to decarbonize the cooling of buildings in Masdar City,...

Abu Dhabi, UAE--Abu Dhabi Future Energy Company (Masdar) and Citaglobal Berhad have signed a memorandum of understanding (MoU) for developing renewable energy projects across solar, battery energy storage system (BESS), wind and other renewable energy technologies. The MoU was signed in Malaysia by Abdulla Zayed, Masdar’s Head of Development and...

IDB will fund renewable projects by joining ETAF platform.

DUBAI, UAE- Dubai Electricity and Water Authority (DEWA) said the MENA Solar Conference (MENA-SC) which it organizes from November 15-18 2023, will discuss six innovative research areas. Prominent experts, specialists and researchers worldwide will highlight the latest developments, technologies and scientific research in solar power, local media reports said. The...

BAGHDAD, IRAQ -  Secretary General of the Gas Exporting Countries Forum (GECF) Mohammed Hamel on Friday stressed the importance of Iraq in the oil and gas sector. Iraqi Ministry of oil said in a statement, “Deputy Prime Minister for Energy Affairs and Oil Minister Hayyan Abdul Ghani, met GECF Secretary...

Vienna, Austria - Mohamed Aoun, Libyan Minister of Oil and Gas, has said that Libya is continuing its gas export operations to Europe through the Greenstream pipeline, local media reports said. He noted that an increase in gas exports is currently unfeasible, but could be considered in the future, after...

VIENNA, AUSTRIA -  A new US$60 million loan by the OPEC Fund for International Development (OFID) and partners is expected to significantly strengthen energy security in northwest Tanzania. The project will include constructing a 166km overhead transmission line connecting the Kagera region to the national grid, replacing the current energy...

PARIS, FRANCE - Renewable power capacity is expected to jump by a third this year globally as growing policy momentum, higher fossil fuel prices and energy security concerns drive expansion of solar and wind power, the International Energy Agency (IEA) said. The growth is set to continue next year with...

ABU DHABI, UAE -  Abu Dhabi Future Energy Company (Masdar) has announced that it has nearly doubled its clean energy capacity and CO2 displacement in just two years. Masdar said that it is on track to fulfill its ambition of becoming one of the world’s largest renewable energy companies by...

DUBAI, UAE -  Chairman of the Dubai Supreme Council of Energy Sheikh Ahmed bin Saeed Al Maktoum chaired the 76th meeting of DSCE which was held virtually in the presence of Saeed Mohammed Al Tayer, Vice Chairman of the Council. Saeed Mohammed Al Tayer, also the MD and CEO Dubai...

Growth in revenue driven by surge in demand for electricity, water.

To meet the estimated energy demand from hydrogen and electric aircraft in 2050 would require the amount of energy produced from 10-25 of the world’s largest wind farms, or a solar farm half the size of Belgium, WEF says.

DUBAI, UAE - Dubai Electricity and Water Authority (DEWA) has been awarded first place in UAE Ministry of Energy and Infrastructure’s ‘Research and Innovation Award’ in the government sector category for its contributions in the field of balanced national energy. The award recognizes DEWA's consistent efforts in research, development and...

GENEVA, SWITZERLAND - The global transition to renewable energy will require greater investment in integrated weather and climate services, the World Meteorological Organization (WMO) said. This investment is critical to ensure that energy infrastructure is resilient to climate-related shocks and to harness the power of energy generated from sources such...

London, United Kingdom - Britain on Thursday warned against the threat of protectionism as it slammed the United States for leading a "distortive" green energy subsidy race. Finance Minister Jeremy Hunt's remarks came as his government updated its energy security plan to ramp up renewable and nuclear power. The Conservative government...

Dubai, UAE--TAQA Morocco is looking to invest $1.6 billion in renewable energy solutions in Morocco in order to lift up electricity production by 50 percent by 2030.  Owned by Abu Dhabi National Energy Co., the company plans to diversify its activities in clean energy and water desalination as part of...

Investors' appetite for "green debt", used to finance renewable energy projects, low-carbon transport or well-insulated housing, is growing exponentially. But the European Union until now did not have a common standard to certify the sustainability of investments.

The Gulf International Laboratory aims to localize industries, enhance local content and build capabilities to boost competitiveness of the Kingdom's economy.

ABU DHABI, UAE - One of the world's biggest solar plants will become fully operational this year in the oil-rich United Arab Emirates, months before it hosts UN climate talks, a partner company said Tuesday. The UAE, a major oil exporter, is spending billions to develop enough renewable energy to cover...

The setback comes despite a record 4.7 percent drop in energy consumption last year, partly in response to soaring fuel prices because of the war in Ukraine. But the energy saving gains were wiped out by the government's decision to burn more coal and oil to make up for the...

The UAE Government will invest AED600 billion ($163.36bn) in renewable energy by 2050 to meet the country's growing energy demand from clean and sustainable resources.

ABU DHABI, UAE - Experts from UK and the UAE participated in a Sci-Tech Virtual Tour of the Emirates science and technology ecosystem. The virtual tour was organized by UAE’s Ministry of Industry and Advanced Technology (MoIAT), the Ministry of Foreign Affairs and International Cooperation (MoFAIC), UAE Embassy in London,...

London, UK --The Energy Industries Council (EIC), one of the world’s largest energy trade associations, has released a report on the state of the UAE’s energy industry, showcasing the country’s energy mix and its leading position in renewable energy sector. “The UAE offers a great mix of energy projects for...

Abu Dhabi, UAE— The UAE's Ministry of Energy and Infrastructure has announced the approval of the federal law regulating the linkage of distributed renewable energy production units to the electrical grid. The new law aims to enable the production of electricity from renewable sources and achieve the UAE's objectives in...

SHARM EL SHEIKH, EGYPT - GE (NYSE:GE) signed a framework agreement with the International Renewable Energy Agency (IRENA) to support both climate change and energy security. The agreement was signed by Francesco La Camera, Director-General of IRENA and Roger Martella, Chief Sustainability Officer of GE at the 27th Conference of...

Intended to support the transition to renewable energy in developing nations, the United States launched a partnership with private funds based on a carbon credit system criticized by climate activists. The government scheme would help emerging economies attract finance to "support their clean energy transitions."

Minister of Climate Change and the Environment Mariam bint Mohammed Almheiri said the UAE’s participation in the 27th session of COP27 in Egypt will be an affirmation of the country's pioneering model regionally and globally in facing the challenge of climate change.

UNITED NATIONS, UNITED STATES - Carbon neutrality goals are useless if not backed by action, UN Secretary-General Antonio Guterres said Thursday, stressing that the world cannot "afford any more greenwashing." "Commitments to net zero are worth zero without the plans, policies and actions to back it up," he said in...

Aiming to bolster cooperation on renewable energy, Morocco and the European Union have signed a "green partnership" deal in order to offer alternatives for European nations that are trying to wean themselves off fossil fuels, whose prices have soared in the wake of Russia's invasion of Ukraine.

BP bought US firm to reach net zero emissions by 2050.

Firm aims to expand its utilities, energy investments.

With the rise in demand for low-carbon investments, investors issued $517 billion in green bonds last year, a 50 percent increase over 2020.