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UAE's renewable energy capacity set to increase to 9GW by 2025

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The UAE’s renewable energy capacity is set to increase four-fold to about 9 gigawatts (GW) by the end of 2025 as the country starts new projects to diversify its energy mix, according to Rystad Energy.
“Solar PV (photo voltaic) additions are going to pile up, especially from 2022, and drive the country’s total renewable capacity to an impressive 9GW by the end of 2025,” the Oslo-based consultancy said in a new report. The UAE s total renewable capacity reached 2.3GW at the end of 2020.
Four new projects, which are in various stages of development, will drive this growth, the report said. The biggest is the 2GW Al Dhafra solar scheme in Abu Dhabi as well as new projects in Dubai and the Northern Emirates. ....

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French bank Natixis to continue hiring spree in Saudi Arabia

French investment bank Natixis is looking to broaden its services to regional clients.
The bank is growing its presence in Saudi Arabia even as it plans to make cuts elsewhere.
The lender gained its licence to operate from the kingdom’s Capital Market Authority in May this year, and continues to hire new staff, its new Saudi Arabia chief executive Ammar Bukhamsin said.
“We’re looking to add incrementally in the kingdom, so we’re looking at probably three senior banker roles in addition to other supporting functions in Riyadh,” said Mr Bukhamsin, who was appointed last month.
Natixis is majority-owned by French bank Groupe BPCB. The bank already has 12-15 people serving the kingdom, mainly from other locations. It currently has three people in the kingdom and a total of about 60 people covering the Gulf, Egypt, the Levant and Turkey. ....

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