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RENEWABLES-
The Saudi government signed a combined SAR 49 bn-worth of renewables and energy infrastructure agreements at the Energy Localization Forum in Riyadh last week. The total includes 14 agreements in the renewables sector worth SAR 14.4 bn and another 14 agreements in the energy infrastructure sector totaling SAR 34.6 bn, the Saudi Energy Ministry said.
The details: The agreements include two major energy storage systems worth SAR 9 bn that included China Electric Power Equipment and Technology Co., Al Gihaz Contracting Co., and the Saudi Electricity Company.
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CARBON MARKETS-
Adaverse invests SAR 1.69 mn in TGE: KSA’s Web3 and blockchain fund Adaverse is set to invest SAR 1.69 mn in fully localized Web3 sustainability startup Tharawat Green Exchange (TGE), according to a press release. The proceeds will mainly be allocated towards blockchain development, sales and marketing, and securing Vera certification for TGE’s carbon credits. TGE is carving a niche in Saudi Arabia, connecting carbon offset purchasers with local nurseries and land projects through a blockchain platform to aid Saudi Arabia achieve its goal of planting 10 bn trees by 2040.
SUSTAINABILITY-
Adnec Center Abu Dhabi plans to go green: Adnec Group signed an agreement with the Emirates Water and Electricity Company (Ewec) to secure 100% of Adnec Center Abu Dhabi’s electricity needs using Ewec’s renewable energy sources, according to the Abu Dhabi Media Office. The move will make Adnec Center Abu Dhabi the first and largest event venue in the Middle East to be powered by clean energy.
OTHER STORIES WORTH KNOWING ABOUT THIS MORNING-
- Iran public transport to add 10k EVs: 10k electric vehicles are expected to join Iran’s public transport fleet by late March 2025, Managing Director of Mapna Group said on the sidelines of the Iran International Electricity Exhibition. Mapna is now working on adding charging infrastructure to support the expansion in big cities. (Tehran Times)
