Displaying items by tag: Renewable Energy
ACWA Power, a leading developer, investor and operator of power generation and desalinated water plants worldwide, will showcase its portfolio of leading renewable energy and water desalination projects at the at 22nd Water, Energy, Technology and Environment exhibition (WETEX) as a Titanium Sponsor. Unlike any of its former editions, WETEX 2020 is launching virtually and will be the first ever carbon-neutral, 3D exhibition in the Middle East and North Africa on Water, Energy, Sustainability and Innovation.
Cementing its role as a global accelerator of energy transformation, this year at WETEX 2020, ACWA Power will be exhibiting its record-breaking projects that played an instrumental role in lowering renewable energy tariff levels and opened new opportunities in energy efficiency and water production through a virtual 3D interactive stand. The milestone projects will include Shuaa Energy, (MBR Solar Park Phase II); Noor Energy 1 (MBR Solar Park Phase IV); ACWA Power’s newest win – Shuaa Energy 3 (MBR Solar Park Phase V); Umm Al Quwain IWP; and Taweelah IWP, the largest desalination project in the world.
As always, we are pleased to play a strategic role in one of the largest and most important global water, environment, and energy exhibitions led by the Dubai Electricity and Water Authority (DEWA). We are honoured to have established a robust partnership with DEWA to develop and operate vital projects that promote the sustainable development of the United Arab Emirates and fortify Dubai’s position as a global hub for the green economy, all the while contributing towards Dubai’s ambitious Clean Energy Strategy 2050 to increase its renewable energy share to 75% by the year 2050. The partnership between ACWA Power and DEWA serves as a global module for successful public-private partnerships geared towards supplying energy at a cost efficient and reliable rate.
This year, WETEX is going to be more critical than ever as a result of the increasing economic implications incited by the COVID-19 pandemic. Prioritising innovation today is key to unlocking postcrisis growth – and WETEX is the ideal platform that gathers like-minded stakeholders, governments and companies who are eager to explore and reciprocate insights and visions on forward-looking smart technologies and electrification solutions for a collective prosperous future.Mohammad Abunayyan, ACWA Power Chairman
Abunayyan also highlighted that this year’s edition is of particular importance in regards to Dubai’s water desalination sector as the emirate has taken a strategic focus on enhancing the sector’s efficiency by increasing its reliance on reverse osmosis technology, expanding its deployment and leveraging modern solutions that utilise energy sources to produce desalinated water.
ACWA Power is partaking in three leading seminars during WETEX this year. Paddy Padmanathan, President and CEO of ACWA Power, is joining the CEO Roundtable alongside CEO of Engie KSA, Turki Alshehri and CEO of Sterling & Wilson, Bikesh Ogra, to discuss the challenges posed by the pandemic and how to prepare for a post covid-19 world.
Abla Addas, Business Development Manager at ACWA Power, will run a seminar on the challenges and opportunities of “Energy Efficiency, Sustainability and Conservation” following the immense impact of the lockdown period on the environment. Dr. Andrea Lovato, Vice President & Head of Renewables Development at ACWA Power, will lead a robust session on the potential of green hydrogen as a cleaner alternative to fossil fuels.
With a constantly evolving portfolio of clean energy plants, ACWA Power has been a prominent contributor to the development, investment, and operation of renewable energy plants internationally, with 21.5% of its current global portfolio dedicated to renewable energy.
The 22nd WETEX and the 5th Dubai Solar Show (DSS) 3D virtual exhibition will be the first of its kind in the Middle East and North Africa. It will provide a new experience for exhibitors and visitors from around the world to learn, engage and network with the pioneering industry players. The DEWA-led event will enable exhibitors to display their products innovatively through 3D customisable stands and facilitate meetings, seminars, and workshops using the latest smart technologies.
Danish power plant company Burmeister & Wain Scandinavian Contractor A/S (BWSC) is to build and operate two major biomass plants in the UK following the success of lengthy efforts to secure investment for both projects.
A newly formed Danish JV is to invest £160 million to establish the Brigg Renewable Energy Plant – a 40MW biomass power plant in Lincolnshire, which will be primarily fuelled using locally sourced straw.
Due for start-up in early 2016, the plant will be the first project to be delivered by BWSC PLC – the venture formed specifically to build, own and operate power plants by PensionDanmark and BWSC, which is putting up £32 million of the investment.
BWSC has a 15-year agreement to operate and maintain the Brigg power plant, which will employ boiler technology from Danish company BWE to provide steam for the turbine generator.
The Lincolnshire plant was developed by Eco2, a UK renewable energy company that is currently collaborating with BWSC on a woodchip-powered plant in Wales and a straw-powered plant being built in Sleaford, Lincolnshire.
The new investment was agreed between all parties on 8 Aug following on from what BWSC said was a much awaited announcement by the UK government regarding biomass funding.
“The financial crisis has challenged the success of Danish businesses exporting sustainable energy plants," said Anders Heine Jensen, chief executive of BWSC in a 13 Aug press statement.
"With this model, not only will we be market leaders in power plant technology, but we will also own, operate and finance new plants in collaboration with PensionDanmark," he added. "This boosts our competitiveness considerably and establishes Danish energy technology on the world map.”
According to PensionDenmark, the JV provided a blueprint to generate attractive returns, with limited risk as most of the investment was in the form of loans and the bulk of earnings are regulated. Costs, it added, would be fixed via long-term contracts.
The Lincolnshire project announcement came just days after a £55-million order for BWSC to build a 15.8 MW biomass CHP plant in Derry/Londonderry, Northern Ireland. The contract with Evermore Renewable Energy (ERE) also includes a 15-year operation and maintenance agreement worth a further £39 million for the Danish power plant company.
The Irish biomass plant will be fuelled by recycled wood and is expected to be handed over to ERE for start-up of commercial operation during summer 2015.
Identifying the right kind of fuel and amendments in the UK legal framework conditions for renewable energy were among the challenges faced during four years of effort to secure finance for the NI project.
BWSC said it and ERE had been in contact with several potential investors, before obtaining financial approval for the project. Denmark's EKF (Export Credit Agency), it noted, played a decisive role in helping to ensure risk cover and funding.
Funding for the Evermore plant was eventually provided by the UK Waste Resources & Energy Fund (UKWREI) – a fund managed by the Foresight Group and in which the UK Green Investment Bank plc is a cornerstone investor – and Investec Bank plc.
”Developing and constructing energy projects is a very complex process which involves local authorities, government agencies and many specialists from different professions," said Jensen of BWSC
"Technical skills, high levels of cooperation and trust and, not least, a lot of patience are crucial factors for our business to achieve a successful project implementation,” the CEO concluded.