Egypt signed a €7 billion (~$7.58 billion) agreement with France’s EDF and the United Arab Emirates-based Zero Waste to develop a green hydrogen project near the Gulf of Suez. The facility aims to produce over one million tons of green ammonia annually, primarily as shipping fuel for vessels using the Suez Canal. The project will include wind and solar power facilities covering 420 sq km. The consortium will also construct a 400 m-long shipping dock for the Red Sea Ports Authority and establish a seawater desalination unit to support the project’s operations.

Dubai’s energy demand grew 5.4% in 2024 to reach 59,594 GWh, up from 56,516 GW in 2023, according to Saeed Mohammad Al Tayer, MD and CEO of Dubai Electricity and Water Authority (DEWA). He attributed the demand increase to Dubai’s population growth and economic expansion. DEWA’s installed generation capacity stands at 17.179 GW, with clean energy contributing 20% of the total. Its peak demand in 2024 reached 10.76 GW, a 3.4% growth from 2023.

Saeed Mohammad AL Tyler, MD and CEO, DEWA, reviewed progress on the sixth phase of the Mohammad Bin Rashid Al Maktoum Solar Park, which has a planned capacity of 1,800 MW. The phase is 53% complete, with 600MW already operational. The project is being developed under an independent power producer model and has investments of AED 5.5 billion (~$1.50 billion). It spans 20 sq km and targets providing clean energy for approximately 540,000 residences.

EDF Renewables North America and Masdar signed a power purchase agreement with Soluna Holdings to supply up to 166 MW of energy from the Las Majadas Wind project in Texas. Soluna will use this renewable power for its new data center, Project Kati, which will be built near the wind project’s substation. Las Majadas Wind has been operational since 2021 and has a total capacity of 273 MW.

The Arab Energy Fund and Hartree Partners established TAEF Hartree Cleantech, a $120 million investment platform focused on decarbonization technologies in the U.S. and Europe. The UK-based platform will support venture capital-stage companies developing physical and digital cleantech solutions. Hartree Partners has invested in cleantech since 2020, focusing on carbon markets and industrial decarbonization. The company’s cleantech portfolio includes investments in 10 companies across industrial decarbonization, emissions verification, geospatial data analytics, and climate change adaptation technology segments.

Lulu Retail partnered with the Kanoo-CleanMax joint venture to complete its first solar project in Saudi Arabia at its Riyadh Central Warehouse. The 502.7 kWp rooftop solar project targets generating 846 MWh of clean energy annually. The solar project is among the first to be integrated into the Saudi Electricity Company’s grid.