Latest Deals
Executives at Red Sea Global, EDF and Masdar sign the 25-year partnership. Credit: Red Sea Global.
Red Sea Global, EDF, Masdar enter 25-year partnership for Amaala sola
Saudi Arabian state-owned developer Red Sea Global (RSG) has entered into a 25-year concession agreement with French utility EDF and renewables producer Masdar to construct a multi-utilities facility that will power the Amaala tourist project. The facility will consist of an off-grid renewable energy system, which will generate electricity from solar PV. It will also include a 700MWh battery storage system that will supply 24/7 power to the project.
RWE to invest €55bn globally in renewables up to 2030
German utility RWE has committed €55bn to green energy projects across the world between 2024 and 2030. The company will expand its green portfolio to more than 65GW by 2030. Of the total investment of €55bn, more than half has been allocated to Europe – €11bn in Germany alone. RWE will invest around €8bn in the UK and €20bn in the US.
Germany and Nigeria agree on $500m renewable projects and gas export deal
Germany and Nigeria signed two accords agreeing on a $500m investment in renewable energy and a gas export deal. This is the first-ever gas deal between Africa’s largest oil producer and Europe’s biggest gas consumer, signed at the G20 Compact with Africa conference in Berlin. The historic deal represents 2% of Germany’s total LNG imports, with the first delivery from Nigeria expected in 2026.
UK and South Korea strengthen clean energy ties
The UK and South Korea have agreed to boost their partnership on energy security and switch to renewable energy. The focus of the new Clean Energy Partnership will be on a clean energy transition, low-carbon technology, civil nuclear, domestic climate policies and the development of their energy sectors. It will also promote business collaboration between the two countries by addressing trade barriers.
