Effective climate action requires a shared vision and collective will. The UAE’s leadership and efforts will, no doubt, inspire others all over the world to take eff.
TAQA in talks to buy power plants in Abu Dhabi, plans green bonds, says CFO Reuters 3 hrs ago
DUBAI, May 5 (Reuters) - Abu Dhabi National Energy Company (TAQA) is in talks to buy power plants in the United Arab Emirates and could issue debut green bonds in 2022 as it seeks to expand renewables generation, the finance chief said.
Abu Dhabi-listed TAQA is looking at ways to expand after a state-driven transaction last year boosted its balance sheet and increased total assets to more than $50 billion.
Chief Financial Officer Steve Ridlington told Reuters the company was in early talks to buy power plants in Abu Dhabi, the largest and wealthiest of seven emirates making up the UAE.
Saudi Arabia locks in world record low prices for solar power
The Middle East nation of Saudi Arabia has set a new global record-low price for large-scale solar, with recent power purchase agreements for a new project selling for just over $US10 per megawatt-hour ($A13/MWh).
The PPAs are linked to the nation’s first renewables project, the 300MW Sakaka power plant in Al-Jouf. It is just one of many in the pipeline, though, with seven renewable energy projects receiving the green light to go ahead.
These new initiatives will be based at Al Madinah, Sudair, Qurayyat, Shuaibah, Jeddah, Rabigh, Rafha and a wind project at Doumat Al Jandal, which will take the nation’s renewable generation capacity to over 4 GW.