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SOLAR-
#1- Chinese solar tech firm Astronergy has secured contracts to supply 1 GW of N-type TOPCon solar modules for Algeria’s solar plants, according to a press release. Sonelgaz Renewable Energies — a subsidiary of state-owned Sonelgaz — launched the tender for the 15 solar plants with a total capacity of 2 GW last year.
What we know: Astronergy was tapped to supply modules for six projects that are set to be constructed by CWE and PowerChina, including the 220 MW Biskra plant — one of the largest in the planned complex — already under construction. The rest of the solar panels will be supplied to the 80 MW Abadla plant, the 220 MW Batemete plant, the 200 MW Gueltet Sidi Saad plant, the 200 MW Douar El Maa plant, and the 80 MW Ouled Djellal plant. The project will utilize Astronergy’s ASTRO N5 TOPCon solar modules and is expected to generate 0.4 TWh of clean electricity annually, reducing carbon emissions by 330k tons.
#2- Hurghada gets a 20 MW solar power plant: A Japanese consortium was selected to build a EUR 90 mn, 20 MW solar power plant on Egypt’s Red Sea coast in Hurghada, Al Mal reports, citing sources it says have knowledge of the matter. The consortium consists of two companies — Mitsubishi and another undisclosed firm — and it was the only participant in the tender, the sources said. The consortium may decide on a local partner to take on the design and construct of the project as well as operate and maintain it for two years.
When can we expect the final agreement? Both sides are currently in negotiations regarding the financials and are expected to ink the final contract in 4Q 2024 for the plant to be up and running in 2026. NREA has obtained the necessary licenses for the project and an electrical connection was set up to link the station with electricity transformers.
A first: The solar station will be Egypt’s first to be equipped with a battery to store energy.
GREEN FINANCE-
Egypt gets a coral conservation program: Egypt’s Environment Ministry partnered with the United Nations Development Programme (UNDP), the Global Coral Reef Fund (GFCR), and the US Agency for International DevelopmentUSAID to launch the Egypt Red Sea Initiative to conserve coral reefs, according to a statement. The USD 14.25 m program will span six years, from 2024 to 2030, and will focus on developing sustainable financing solutions to protect coral ecosystems.
The details: The project includes the establishment of the Egyptian Coral Reef Fund, which will provide grants to civil society and NGOs supporting coral reef-friendly activities. The initiative will also create a Coral Reef Business Incubator to fund eco-friendly projects that benefit local communities and promote sustainable development. The initiative aims to protect approximately 99.8k hectares of coral reefs, including areas within the Wadi El Gemal National Park and the Northern Red Sea Islands.
OTHER STORIES WORTH KNOWING ABOUT THIS MORNING-
- Empower’s registrations jump 41% over 5 years: Emirates Central Cooling Systems Corporation (Empower) has reported a 41% increase in new customer registrations for its district solution services through its electronic platforms over the past five years. The firm saw its electronic bill payments surge by 11% y-o-y in 1H 2024 alone. (Statement)
- Saudi launches hydroponic initiative: Saudi Arabia’s Environment, Water, and Agriculture Ministry launched a new investment initiative in hydroponic farming in Makkah. The initiative aims to produce high-quality vegetables to enhance food security, achieve self-sufficiency, and address climate change and water scarcity challenges. (SPA)
