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Business, Energy

‘Wadeem’ sold out for $1.49bn

This is the highest Abu Dhabi real-estate release to date.

Tesla Q2 sales down 13.5%

Shares rally after the disclosure, better than some forecasts.

TomTom cuts 300 jobs

The firm said it was realigning its organization as it embraces AI.

Aldar nets $953m in sales at Fahid

Aldar said 42 percent of the buyers are under the age of 45.

Qualcomm to Alphawave for $2.4 bn

The deal makes Alphawave the latest tech company to depart London.

ACWA Power starts commercial ops at phase 2 of Dubai’s Noor Energy

The project is part of Phase four of the MBR Solar Park in Dubai, (WAM)
By TRENDS Desk
November 21, 2023 1:41 am
  • The second phase is part of a 950 MW solar CSP independent power project, the company said .
  • The financial impact from the full capacity (950 MW) is expected to show starting from the first quarter 2024.

RIYADH, SAUDI ARABIA – ACWA Power Co  said it received the initial commercial operation certificate from the Dubai Electricity & Water Authority (DEWA) for phase two of concentrated solar power (CSP) Parabolic Trough (PT) 200 megawatts (MW) unit of Noor Energy 1, taking total capacity under operation to 717 MW.

The second phase is part of a 950 MW solar CSP independent power project, the company said in a statement on Tadawul.

The financial impact from the full capacity (950 MW) is expected to show starting from the first quarter 2024.

The project is part of Phase four of the MBR Solar Park in Dubai, UAE. ACWA Power owns a 25 percent stake in Noor Energy 1.

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