Nama Power and Water Procurement has signed a power purchase agreement with a consortium for the development of the Ibri III Solar Independent Power Project in Oman. The project comprises a 500 MW utility-scale solar plant, integrated with a 100 MWh battery energy storage system. The consortium that will develop the project includes Masdar, OQ Alternative Energy, Al Khadra Partners, and Korea Midland Power Co. Ltd.
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ACWA Power has signed a MoU with Larsen & Toubro’s (L&T) renewables division for the renewables and grid scope of the Yanbu green ammonia project in Saudi Arabia. The Yanbu project is being developed as a fully integrated hub with captive renewable electricity generation based entirely on solar and wind energy. The MoU outlines cooperation to develop the design, configuration, and performance requirements for both components.
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The European Bank for Reconstruction and Development (EBRD) has approved a financing package of $74.1 million for the construction of a 200 MW wind farm in Ras Ghareb, Egypt. The funding includes an EBRD senior loan of up to $60.7 million, a concessional loan of $3.38 million from the Green Climate Fund (GCF), and an investment grant of $10 million. The project is jointly owned by Infinity Power and Masdar.
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Stargate Hydrogen has signed a MoU with Saudi Arabia’s Research, Development, and Innovation Authority (RDI) to strengthen cooperation in green hydrogen technologies. The agreement was facilitated by Apex Ventures under RDI’s Global Startups Attraction Programme in partnership with the Ministry of Investment. The partnership focuses on multiple areas.
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United Capital Infrastructure Fund (UCIF) has signed a revolving local currency debt facility of around $3.2 million, with Husk in Nigeria. The financing has been structured to address a market gap in the deployment and expansion of solar minigrids in Nigeria. The revolving loan will run for 10 years, during which Husk intends to redeploy the capital twice. The first phase of funding will be utilised to build its standalone minigrid pipeline in Nigeria.
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Hynfra has inked a framework agreement with the Government of Mauritania for the development of a green ammonia project in Nouakchott. The project is planned to produce 100,000 tonnes of green ammonia annually starting in 2030. The total capital expenditure for the project is expected to be $1.5 billion. The project will be located in the southern zone of the Somelec wind farm, with exports planned through Port de l’Amitié.
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Envision Energy has announced its plans to develop a 232 MW wind power project in Karaman, Turkey. Envision will partner with ERN Holding and Yildizlar Group to develop the project. This marks the company’s first wind project in the country. Envision Energy is a renewable energy company that designs and manufactures wind turbines, energy storage systems (ESS), and green hydrogen solutions.
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Egypt has signed a land usufruct agreement for the Atom Solar Egypt project in New Alamein City. The project is a partnership between Egyptian, Emirati, Bahraini, and Chinese entities to establish a fully integrated industrial complex across 200,000 square metres in the Sokhna Industrial Zone. It involves developing a 2 GW solar cell production facility, a 2 GW solar panel production facility, and a 1 GWh energy storage manufacturing unit.
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Masdar, along with GD Power and Korea Electric Power Corporation, has achieved financial close for the 2 GW Al Sadawi solar photovoltaic project in Saudi Arabia. The project has secured financing facilities with eight regional and international lenders, consisting of Standard Chartered Bank, KEXIM, ADCB, BNP Paribas, ADIB, Bank of China, HSBC, and Société Générale.
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Infinity Power has signed concession agreements with the Government of Côte d’Ivoire for two solar photovoltaic projects with a combined capacity of 80 MWac. The projects, located in Touba and Laboa, were awarded under the World Bank’s scaling solar programme through a competitive tender process. The projects will also include the construction of 17 km of transmission lines to integrate the plants into the national grid.
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The Electricity and Water Authority (EWA) of Bahrain has announced the launch of Bahrain’s first solar project for electricity generation. The project is planned to have a production capacity of up to 150 MW. The project will be developed in collaboration with the private sector. Commercial operations of the project are expected to start in the third quarter of 2027.
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Emerge and Emirates Development Bank (EDB) have signed a MoU to collaborate on the development and financing of distributed solar projects in the United Arab Emirates (UAE). Under this agreement, Emerge will identify and present potential renewable energy project financing opportunities, which EDB will review for possible tailored financing solutions. Emerge is a joint venture between Masdar and EDF Group.
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DOMINION has finalised the sale of six solar parks in the Dominican Republic. The company has sold 80 per cent of its ownership in the solar parks. It will continue to retain the remaining 20 per cent share for the next three years. The value of the transaction is over $375 million. The portfolio has a combined capacity of 321 MWp. GP Capital Partners SRL advised on the deal which will generate a cash inflow of $102 million.
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ACWA Power, in partnership with Badeel and SAPCO, has entered into PPAs with the Saudi Power Procurement Company (SPPC) for the development of seven utility-scale renewable energy projects. These include five solar photovoltaic (PV) plants and two wind power projects, with a cumulative generation capacity of 15 GW. The projects, with an estimated investment of $8.3 billion, are planned to add 12 GW of solar PV and 3 GW of wind energy.
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GameChange Solar has inked a contract with CEEC-ZTPC to supply its Genius Tracker 1P Single Row system. The trackers will be supplied for the Abydos Solar PV Plant – Phase II in Egypt. The project has been developed by AMEA Power and built by CEEC-ZTPC. It will combine 1 GWac solar photovoltaic power plant with a 600 MWh battery energy storage system. The project is spread across 20 square km in the Aswan Governorate.
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Globeleq, along with its project partner African Rainbow Energy, has reached a commercial close of the Red Sands battery energy storage project. It is a 153 MW/612 MWh project situated in South Africa. The commercial close for the project has been achieved by inking the project agreements with the Department of Electricity and Energy and the National Transmission Company South Africa (NTCSA).
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PNE Group has achieved the final project development milestone on its 240 MW Khauta South PV site in South Africa. The milestone is based on the financial close between NOA Group and Standard Bank. Financial close marks the final payment in the sales and development services agreements, and thus the completion of the project for WKN Windcurrent, which is PNE Group’s South African Development team.
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Scatec ASA, through its dedicated project company, Shadwan Wind Power SAE, has inked a USD-denominated 25-year power purchase agreement (PPA) with the Egyptian Electricity Transmission Company (EETC). The agreement is for a 900 MW onshore wind project in Ras Shukeir, Egypt. Furthermore, the signing of the PPA will be followed by wind measurements on the site. The measurements are to be finalised in the first half of 2026.
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The Asian Infrastructure Investment Bank (AIIB) has inked a $200 million on-lending facility in favor of the Industrial Development Bank of Türkiye (TSKB). The facility will support the Republic of Türkiye’s climate mitigation and adaptation goals in alignment with the Paris Climate Agreement. It is also backed by a guarantee from the Government of Türkiye. The new facility builds on AIIB’s ongoing partnership with TSKB.
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Scatec ASA has secured preferred bidder status for the Haru BESS battery energy storage project. The project has a capacity of 123 MW/492 MWh and is situated in South Africa. The preferred bidder status has been secured in the third bid window of the Battery Energy Storage Independent Power Producer Procurement Programme (BESIPPPP) by South Africa’s Department of Mineral Resources and Energy.
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