
The UAE plans to double its renewable energy capacity by 2030/Bloomberg
by BloombergMubadala Investment Company-backed Alcazar Energy is preparing to sell some of its solar and wind assets in Egypt and Jordan.
The renewable-energy developer is in talks with banks on the sale, which may fetch at least $500 million.
While the Middle East is home to the world’s biggest oil exporters, governments are pushing for alternate energy solutions amid growing consumption, which is opening up opportunities for renewable-energy developers.
The UAE plans to double its renewable energy capacity by 2030, while Saudi Arabia seeks to invest as much as $50 billion in the sector over the next six years.
MOST READ
BUSINESS
UAE firms launch Covid-19 economic aid packagesBUSINESS
Saudi Arabia plans to boost oil export to 10...BUSINESS
Aldar to invest AED 2 million in Abu Dhabi...BUSINESS
Saudi Aramco posts a 21 per cent decrease in...BUSINESS
Oil drops 31 per cent as price war erupts...BUSINESS
ING Groep plans to sell its Turkish unitBUSINESS
Bahrain considers stake sell in oil assetsBUSINESS
NMC Health hires Moelis for debt restructuringBUSINESS
Saudi Aramco prepares for international listingBUSINESS
SABB seeks to boost corporate lendingBUSINESS
Egypt plans to resume IPOs of parastatalsBUSINESS
SHUAA Capital reports a net profit of AED 45...BUSINESS
HSBC considering exiting from Turkey