Masdar conglomerate finalizes the funding for the third phase of Dubai solar farm

15/06/2017 09:30 Solar


A group managed by Abu Dhabi's renewable energy firm Masdar has accomplished the financing for the third phase of the Mohammed bin Rashid Al Maktoum Solar Park in Dubai, it declared on Wednesday.

The project of 800 megawatts (MW) was funded by Union National Bank, the Islamic Development Bank, Arab Petroleum Investments Corporation, Natixis, Siemens Financial Services, Korea Development Bank and export credit agency Export Development Canada. The statement did not reveal the size of the loan.

The Masdar conglomerate comprises EDF Energies Nouvelles, a division of France's EDF Group. The group is expanding the solar project in collaboration with Dubai Electricity and Water Authority (DEWA).

Dubai's solar farms will attain a capacity of 5,000 MW by 2030. The third phase of the project will be functional by 2020, as stated by Saeed Mohammed Al Tayer, chief executive of DEWA.

Panasonic and Toyota create first car with solar panel

17/07/2017 14:39:00

Panasonic Corporation has started producing 180-watt solar cells that can be installed on the roof of a car. The cells have been used to mass-produce the first car with a solar panel on its roof.


Daily (17.07.2017): EU carbon prices increased by 1.1% on Friday

17/07/2017 10:36:00

Oil prices edged higher in rough trading on Friday, boosted by a report from the IEA that demand growth is accelerating and that oil stocks had fallen. The IEA raised its demand estimate for the Q2, while it reduced its figure for non-OPEC supply. Consequently, the oil market showed a vast deficit last quarter. Both, Brent crude and WTI prices rose by 1% to close at $48.91 a barrel and $46.54 a barrel respectively.


France government ordered to clean up air pollution

17/07/2017 09:50:00

New order from France’s Conseil d’État binds the government to redress the nation’s air pollution levels by 31st March 2018.