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ADNOC shifts OMV stake to XRG

XRG is ADNOC's wholly-owned international investment company.

SIB H1 net profit $189m

The bank's total assets increased by $1.49 billion.

TSMC’s H1 revenue up 40 percent

Robust demand for AI technology behind the surge.

‘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.
  • UAE leads solar energy growth with strategic projects

    Abu Dhabi, UAE - A new report highlighted the UAE's leadership in the regional solar energy sector, driven by initiatives like the Dubai Clean Energy Strategy 2050, targeting 75 percent clean energy by 2050, and Abu Dhabi Vision 2030, aiming for 30 percent renewable energy within five years.The "Solar Outlook...
  • Gulf nations transition from oil to solar powerhouses

    The Gulf region is embracing the future of energy by investing in polysilicon production, crucial for solar panel manufacturing, with Qatar and Saudi Arabia leading from the front.
  • KACST, ACWA Power sign pact

    The aim is to develop technologies for clean energy.
  • Clean energy largest driver of Chinese GDP growth in 2023: report

    China is the world's biggest emitter of greenhouse gases driving climate change, but it is also the top producer of wind and solar energy. Faced with soaring energy consumption, the country has turbocharged its use of renewables -- but also in 2022 approved its largest expansion of coal-fired power plants...
  • Dubai at forefront of sustainable energy innovations

    “We're witnessing strong, growing, and sustainable demand for energy and water in Dubai. In 2023, the peak electricity load rose by 9 percent, and peak water demand increased by 5 percent. This growth stems from urban development, economic expansion, and a steady rise in population," he adds.
  • Masdar, EDF to develop up to 3.6GW of hydropower, renewable projects in Kyrgyzstan

    Dubai, UAE – Abu Dhabi Future Energy Company (Masdar), the UAE’s clean energy powerhouse, and EDF have signed an agreement with the Ministry of Energy of the Kyrgyz Republic to explore the development of hydropower and renewable projects with a combined capacity of up to 3.6 gigawatts (GW).The agreement was...
  • UAE a pioneer in renewable energy: Palau President

    “COP28 is attracting significant interest from various participating countries and will serve as an important forum for climate enthusiasts. This reflects the commitment of people who are eager to enact change and preserve the planet by taking serious steps towards a better future,” President Whipps adds.
  • Masdar enters Tajikistan market with plans to explore 500MW clean energy projects

    Abu Dhabi, UAE - UAE’s clean energy powerhouse Masdar expands Central Asian presence with agreement to explore ground-mounted solar, onshore wind, floating solar and hydropower in land-locked and water-rich TajikistanMW Energy, a joint venture between Abu Dhabi Future Energy Company – Masdar and W Solar Investment, has signed an agreement...
  • UAE is 6th highest per capita consumer of solar energy in the world

    Abu Dhabi, UAE - The UAE ranks among the top world leaders in solar energy use, according to a recent report published by the Energy Institute Statistical Review of World Energy.With three of the planet’s largest solar sites, the UAE is the 6th highest per capita consumer of solar energy...
  • OPEC+ strives for market balance, sustainable growth

    The international oil bloc’s technical team constantly monitors variables in global oil markets and presents its recommendations to the ministerial committee to make appropriate decisions, which can help improve market stability and drive sustainable growth, adds Suhail bin Mohammed Al Mazrouei.
  • OFID to provide $25m for Niger’s solar energy development

    Vienna, Austria - The OPEC Fund for International Development (OFID) is offering a US$25 million loan for solar energy development in Niger, scaling up electrification and access to renewable energy in the country. The loan will be provided to Solar Plant Development and Electricity Access Improvement Project (RANAA). The OPEC...
  • Dubai conference explore ways to nullify environment challenges

    This is especially important with the ongoing preparations for the UAE to host the 28th Conference of the Parties by the United Nations Framework Convention on Climate Change (COP28).
  • AMEA Power completes $1.1bn deal to deploy 1GW of energy projects in Egypt

    The landmark 500 MW wind and 500MW solar projects, represent US$1.1bn of investment into the Egyptian economy and takes the company’s clean energy portfolio to 2GW in the country.
  • Solar power, farming revive Tunisia school as social enterprise

    Hamadi started a decade ago by gathering donations to buy 50 solar water heaters and 140 photovoltaic panels.
  • Fed up of perennial power cuts, Gaza turns to solar

    For most of Gaza's 2.3 million residents, living under a 15-year-old Israeli blockade, power cuts are a daily fact of life that impact everything from homes to hospital wards.
  • DEWA says 35% of work completed on Hatta power plant

    The project is also part of DEWA’s initiative to develop the area to meet its social, economic, and environmental needs.
  • Iraq signs project to reduce carbon emissions

    The emission reduction is expected to take place through upcoming contracts in solar energy field.
  • UAE industries are embracing solar power

    Al Bayader International, for example, has set up solar farms to offset energy costs and build sustainability, says Founder and CEO Nidal Haddad.
  • North African sun offers green hope but state role key

    Blessed with year-round sunshine, North Africa has enormous potential for solar energy, but the huge investment and state subsidies required for large-scale projects are a challenge for cash-strapped governments. The IEA said North Africa increased its renewable energy production by 40 percent. But addiction to fossil fuels hasn't waned.
  • Saudi Arabia set to build two 600MW solar plants

    The plants will be built on land plots with a total area of 12 million sq m in Jeddah and Rabigh.
  • Solar panels power rebel-held Syrian areas

    UNDP says at least 90 percent lack a stable power supply across Syria In rebel areas, there is little hope of state-provided electricity   Huge solar panels poke out of pumpkin and tomato fields in Syria’s rebel-held northwest, where after infrastructure was destroyed during a decade of war, many have...
  • DEWA to add additional 600MW of clean energy capacity to Dubai’s energy mix in 2021

    The technologies fueling this expansion are photovoltaic solar panels and concentrated solar power or CSP The move will increase DEWA’s total power capacity from clean energy to 1,613 MW Dubai Electricity and Water Authority is on its way to add 600 megawatts of clean-energy capacity through the solar route in...
  • AUS, Petrofac partner to improve solar energy efficiency

    AUS, Petrofac develop a technology that can remotely assess the cleanliness of solar panels Abundant sunlight makes the UAE a prime location for solar energy sites With solar energy a high priority for public and private organizations throughout the UAE and wider region, the American University of Sharjah (AUS) and...
  • Saudi to host world’s biggest solar unit; larger than many global cities

    A massive economic diversification exercise is underway in the Middle East to gradually end dependency on fossil fuels for a sustainable future. One sector, which has immensely benefitted from the exercise is that of renewable energy. Over the years, it has not only emerged as a reliable and viable means...