Saudi Arabia

Saudi Arabian renewables developer ACWA Power uploaded solid H1 2022 results as it remains to divert its portfolio to renewables and low-carbon technologies.

Researchers in Saudi Arabia have built an inverted perovskite-silicon tandem device with a 1 nm thick interlayer based on magnesium fluoride (MgFx). They declare it can quit voltage losses and boost power conversion performance, while preserving 95.4% of its initial performance after 1,000 hrs.

Saudi Arabia awarded contracts for the development of more than 1.7 GW of solar energy projects until now. The report likewise said that Saudi Arabia furthermore has green hydrogen as a key component of its long-lasting energy sector strategy. The country desires create 2.9 million tonnes of green hydrogen each year by 2030.

Chinese solar technology company Longi will supply its Hi-MO 5 (72C) modules for the 400-MW direct present (DC) Rabigh Solar PV IPP project in Saudi Arabia.

The upcoming solar thermal plant called 'Solar 1' will be located in Ras al Khairto harness the power of the sun to produce steam that will better be used to improve bauxite ore into alumina. The 1,500 MW solar steam facility will help MA'ADEN attain sustainability objectives by decreasing carbon discharges by over 600,000 tons annually.

Researchers in Saudi Arabia have actually developed photovoltaic panels that soak up water vapour from ambient air. This has actually been utilized to grow spinach in the middle of the desert.

United States solar tracker maker Nextracker Inc claimed on Monday that its technology has actually been chosen for the preliminary phase of the 1,500-MW Sudair solar park project in Saudi Arabia.

Saudi Arabia Energy Minister educates that even more renewable projects worth 15 gigawatts will certainly be added this as well as coming year. Saudi Power Procurement Company authorized PPAs with Ar Rass Solar and also consortium led by Jinko Power.

25-year PPA with SPPC is for the $450m Ar Rass solar project in Al Qassim province

The business aims to increase its exports of solar panels to the Middle East, North Africa and Europe. It likewise prepares to commission a 2nd assembly line by the center of today year to elevate the company's panel result to 450 MW by the end of 2022.

Saudi Arabia's Public Investment Fund(PIF), South Korea's steelmaker POSCO (KRX:005490) as well as Samsung C&T Corp (KRX:028260) have teamed up to discover the growth of a joint project for the production of green hydrogen with export purposes.

Saudi solar developer ACWA Power has signed a memorandum of understanding (MoU) with Natixis Corporate & Investment Banking (Natixis CIB) that will certainly see the companions explore possibilities to create projects, consisting of renewable resource plants.

Works on a 30-MW solar farm in the region of Haradh in eastern Saudi Arabia have actually been settled after numerous hold-ups, and also the plant will certainly begin delivering power to the National Agricultural Development Co (TADAWUL:6010), or NADEC, under a power acquisition contract (PPA).

The power manufacturer, which will certainly be 44% had by Saudi Arabia's sovereign wide range fund after the IPO, said it'll offer shares at 56 riyals ($14.93) each after institutional part of the offering finished. It will certainly elevate $1.2 billion for ACWA as well as value the firm at $10.9 billion.

While Saudi guarantees on renewable resource have actually stopped working to fructify up until just recently, current moves indicate an even more concerted initiative. As the most affordable cost producer of oil worldwide, the Kingdom, can and is plainly intending to, build its renewable resource field even as the oil industry continues to bring in vital export earnings.