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Power generation equipment and services supplier, Alstom, has announced the strengthening of its renewables portfolio through a partnership with BrightSource Energy Inc. Alstom's move into the high-growth solar energy market comes in the form of an investment of up to US$55mn in BrightSource Energy Inc, with an equity stake that positions Alstom as one of the main shareholders in the company.
The deal takes place as part of a capital increase of US$150mn organised by BrightSource, a privately-owned company that specialises in designing, building and operating tower based solar thermal power plants.
A high level delegation representing the energy sector in Dubai has visited China to look at the latest global practices in the area of sustainable energy and the diversification of its sources. The delegation exchanged knowledge on the usage of conventional power plant technologies (using ultra super critical power plant-coal and synthetic gas) to generate electricity and produce desalinated water.
The Abu Dhabi Fund for Development (ADFD), a fund established by the government to aid the economic development of developing nations, has granted a loan to Bahrain worth US$50mn. The loan will be used to erect two electric transmission lines, of 220KV and 66KV each, to meet the increasing demand for electric power.
Abu Dhabi Transmission and Despatch (Transco) has placed an order with Siemens Energy to supply transformer substations and switchgear for the UAE power distribution network expansion project. The US$184mn order includes the turnkey supply of three 132/11 kV transformer substations and two 132/22 kV substations.
While the demand for power in the MENA region is expected to double by 2030, financing remains a problem according to a new report published by the London-based Middle East Association. Alan Mackie, the editor of the Middle East Business Focus 2010, highlights how the latest projections indicate that demand in the Middle East and North Africa (MENA) will necessitate the installation of at least another 250GW of new capacity.