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Tag: Sovereign Wealth Fund
Hydrogen

EDF Renewables, ZeroWaste sign agreement for $3bn green ammonia production in Egypt

Posted: April 21, 2022 at 1:55 pm   /   Renewables

Egypt’s Suez Canal Economic Zone (SCZONE) has signed a memorandum of understanding (MoU) with a consortium of EDF Renewables and ZeroWaste for the production of 350,000 tonnes of green fuel annually in the Ain Sokhna region to supply ships. The project involves USD 3 billion (EUR 2.77bn) of investments and will be implemented in several […]

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maersk

Maersk inks new deals in Egypt to speed up green fuel production

Posted: March 30, 2022 at 7:46 pm   /   Renewables

Danish shipping giant Maersk and Egyptian authorities have signed a partnership agreement to jointly explore the establishment of large-scale green fuel production in the country in the pursuit of net-zero shipping. Following the recent fuel sourcing deals, Maersk signed a Memorandum of Understanding (MoU) with the authorities’ representative in the presence of the Egyptian Prime Minister […]

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Scatec Signing-Egypt

Scatec and partners to develop large-scale green ammonia facility in Egypt

Posted: March 14, 2022 at 9:25 pm   /   Renewables

Scatec has today signed a memorandum of understanding (MOU) with the General Authority for Suez Canal Economic Zone (SCZONE), The Sovereign Fund of Egypt (TSFE), the Egyptian Electricity Transmission Company (EETC), and the New and Renewable Energy Authority (NREA), to jointly develop a green ammonia facility in Egypt with a production capacity of one million […]

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windfarm

ACWA Power in advanced talks with SFE over 250MW wind farm in Gulf of Suez

Posted: February 23, 2022 at 8:44 pm   /   Renewables

ACWA Power and the sovereign wealth fund eye a new Suez wind farm: Saudi renewables company ACWA Power is in advanced talks with the Sovereign Fund of Egypt (SFE) to build a c. 250 MW wind farm in the Gulf of Suez, Al Borsa reports, citing unnamed sources who claimed a contract could be signed within weeks. […]

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Hydrogen

Egypt approves H2 Industries’ $3bn waste-to-hydrogen plant in East Port Said

Posted: February 2, 2022 at 1:04 pm   /   Renewables

East Port Said is getting a USD 3 bn green hydrogen hub: The Suez Canal Economic Zone has given H2 Industries, a German-based energy storage company, preliminary approval to develop a USD 3 bn waste-to-hydrogen plant in East Port Said, executive chairman Michael Stusch told the National. The plant will consume 4 mn tonnes of waste a year, […]

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green hydrogen

SFE, Scatec, Fertiglobe agree to build green hydrogen plant in Egypt

Posted: October 14, 2021 at 6:35 pm   /   Renewables

Norwegian solar company Scatec has entered an agreement with the Sovereign Fund of Egypt and Nassef Sawiris-backed Fertiglobe to develop a new 50-100 MW green hydrogen plant in Ain Sokhna. Solar company will majority own the facility which will have an offtake agreement with Fertiglobe. Scatec has entered into an agreement with ammonia producer Fertiglobe […]

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Wataniya

Saudi’s Petromin Corp enters the bidding race for Wataniya Petroleum

Posted: June 5, 2021 at 12:20 pm   /   Oil & Gas

The bidding war for the army’s Wataniya Petroleum is heating up: Saudi industrial oils giant Petromin is throwing its hat in the ring in what’s shaping up into a bidding war for Wataniya Petroleum, Bloomberg reports, quoting sources familiar with the matter. The company will compete with each of Qalaa Holdings’ Taqa Arabia, Dubai’s state-owned […]

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Wataneya

Abu Dhabi’s Sovereign Wealth Fund joins Adnoc in Wataniya bid

Posted: April 7, 2021 at 12:39 pm   /   Oil & Gas

Abu Dhabi’s sovereign wealth fund ADQ is joining forces with Abu Dhabi National Oil Company (Adnoc) in its takeover bid for military owned Wataniya Petroleum, with the aim of making a stronger offer for the company, the local press reports, citing unnamed sources. Adnoc was reportedly in the process of appointing advisors last month, and […]

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Wataneya

Franchisers added to list of potential buyers for Wataniya Petroleum

Posted: February 24, 2021 at 1:53 pm   /   Oil & Gas

Franchisers are now on the list of potential buyers for 80-90% of military-owned Wataniya Petroleum, Sovereign Fund of Egypt (SFE) CEO Ayman Soliman told Reuters. The inclusion of franchising as a potential model for the sale came after the fund saw that some markets, including Europe, follow that model. The SFE, which is managing the […]

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wataniya

Wataniya Petroleum upcoming sale attracts more attention from GCC companies

Posted: January 13, 2021 at 10:57 am   /   Oil & Gas

The upcoming sale of military-owned Wataniya Petroleum is attracting more attention from GCC oil and gas companies, the local press reports, citing unnamed sources familiar with the negotiations. State-owned Emirates National Oil Company (ENOC) and Saudi Aldrees Petroleum and Transport Services Co. are reportedly interested in vying with Abu Dhabi National Oil Company (ADNOC) and […]

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