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Global Information NO.11 2021 / 01

Saudi utility ACWA power – which won a deal to take advantage of record low prices and reduce its
provide all utility services to the complex – will also greenhouse gas emissions. (Source: spglobal)
build an initial 210MW of wind and solar energy to
power the first phase of The Red Sea Project from Overseas giants increase the layout of
2022, when 12 hotels and the airport are due to be new energy
up and running. According to incomplete statistics, since the
Once finished in 2030 The Red Sea Project’s beginning of 2020, giants in various fields such
28,000 sq km site will feature 50 hotels and 1,300 as Total, BP, PKN, Galp Energía, Duke Energy,
residential properties across 22 islands and six Endesa, NTT, and other fields have released nearly
inland sites, said its developer, which is backed by 600GW of new energy installed capacity, with a
the Saudi government and promises “unforgettable total investment plan of more than 100 billion US
luxury” for its visitors. (Source: rechargenews) dollars.
Judging from the 14 companies that have issued
UAE to establish electricity market to renewable energy plans, 5 of them are oil giants, 4
export power power company giants, 2 wind power giants, 1 coal
The UAE plans to set up an giant, 1 telecommunications giant, and 1 iron ore
electricity market and provide giant. The layout direction is mainly concentrated
power at competitive prices on solar energy, wind energy and hydrogen
amid plans to export it to other energy.Oil giant Repsol plans to expand
countries, the ministry of energy renewable energy production
and infrastructure said. capacity by five times. The
The UAE, which mainly French oil giant Total plans
consumes gas f or to invest 3 billion US
power generation, dollars in renewable 5
is diversifying its energy every year in
energy mix in a the next ten years.
bid to free up gas The British oil
for export and giant BP increases
other uses. It also renewable energy
wants to lower its pr oduction
carbon footprint capacity from
fr om po w er 2.5 GW in 2019
g ener ation by to 50 GW. The
70% by 2050, by Polish oil giant
which time the UAE PKN plans to invest
wants to produce 2.5GW in 2030. The
half of its electricity Portuguese fossil
from clean sources, fuel giant establishes
including nuclear. The a renewable energy
r emaining electricity sector. Duke Energy wants
generation would come from 400 billion to invest in wind
goal and gas. power, photovoltaics, etc. Scottish
It will invest Dirhams 600 billion Power plans to invest 10 billion pounds
($163 billion) until 2050 to meet its growing energy to increase renewable energy generation capacity.
demand under its strategy. Enel, one of the largest power companies in Europe:
In 2020 the UAE started its first of four planned plans to invest 70 billion euros to expand solar and
nuclear reactors, each of which has a capacity of wind energy business. Endesa, Spain’s largest power
1.4 GW and together will provide up to 25% of the company: plans to increase the total capacity of solar
country's power needs once all units are operational. power generation by 50% in the next three years.
The UAE is also building solar power plants to Coal of India plans to invest more than 56 billion

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