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DP World + Masdar partner on renewables: Emirati logistics giant DP World signed a three year partnership agreement with UAE’s renewables giant Masdar to explore the deployment and implementation of solar energy and battery storage systems across DP’s port operations in MENA and Africa, according to a statement. The agreement aims to boost the adoption of solar and battery energy storage systems within DP World’s global supply chain.
Where are they headed? The partnership will initially focus on identifying sites to deploy renewable energy solutions in Saudi Arabia, Senegal, and Egypt and help navigate the regulatory landscape in emerging economies.
DP World is on a roll: The port operator partnered with the International Renewable Energy Agency (Irena) to collaborate on scaling up the use of renewable-based fuels and electrifying the shipping and ports sectors last November. DP World is also using the proceeds of its USD 1.5 bn green sukuk issuance last September to fund eligible green projects including renewable energy, energy efficiency, electrification, and clean transportation.
Not Masdar’s first maritime venture: Masdar signed a Strategic Supply Partnership with French shipping and logistics company CMA GGM to explore the feasibility of striking up a long-term green maritime fuels offtake agreement to supply CMA CGM vessels last month.
