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Stonepeak currently manages 10.4 GW of renewable energy capacity

Energy

Stonepeak, a leading alternative investment firm focused on infrastructure and real assets, has unveiled WahajPeak, its first renewable energy platform in the Middle East.

The platform aims to acquire and develop high-quality utility-scale renewable energy projects, including solar, wind, and battery storage, across the Gulf Cooperation Council (GCC) and the wider Middle East.

WahajPeak’s launch comes amid strong regional policy support for decarbonisation, energy diversification, and grid modernisation, providing a favorable environment for renewable energy growth. 

Stonepeak's previous initiatives include the Asia Energy Storage Platform, Peak Energy, and Synera Renewable Energy, all focused on renewable asset development, ownership, and operation in Asia.

In North America, the firm developed Madison Energy Investments, a distributed solar platform fully realised in 2023.

The MENA portfolio

More recently, Stonepeak launched JouleTerra, a European renewables land aggregation platform, and Longview Infrastructure, a North American transmission investment platform.

Through its platforms and investments, Stonepeak currently manages 10.4 GW of renewable energy capacity across wind, solar, and battery storage projects that are operational, under construction, or in development.

WahajPeak marks the firm’s first dedicated renewable initiative in the Middle East, reinforcing Stonepeak’s commitment to driving the region’s clean energy transition while leveraging its global experience in renewable infrastructure development.

Mothana Qteishat, who will lead the platform, said, “Governments across the Middle East and North Africa are targeting the deployment of approximately 175 GW of renewable energy capacity by 2030, creating a rapidly growing need for reliable, utility-scale infrastructure. With the WahajPeak team’s strong execution track record and Stonepeak’s deep experience in renewable energy investment and platform building, we are well-positioned to meet this demand. We’ve designed WahajPeak to scale and adapt over time, in step with the region’s evolving energy landscape, and we are excited to work closely with our stakeholders to seize the significant opportunities ahead.”

Hajir Naghdy, senior managing director and head of Asia and the Middle East at Stonepeak, said, “Stonepeak has solidified its presence in the Middle East through dedicated boots on the ground in Riyadh and Abu Dhabi, and our previously announced partnership with The Arab Energy Fund. With the establishment of WahajPeak, we are furthering our commitment to the region. We look forward to leveraging our local presence and significant experience building and scaling pan-regional platforms as we work with Mothana and team to grow WahajPeak.”

Ryan Chua, senior managing director at Stonepeak, added, “WahajPeak is a great example of Stonepeak’s approach to platform creation—combining exceptional talent with long-term capital, and our sector capabilities and network, to deliver essential infrastructure—making it a natural fit for our global renewables strategy. We have the utmost confidence in Mothana and the WahajPeak team, whose extensive experience and expertise in the region will be invaluable as we look to support the region’s energy transformation.”

Also read: Oman introduces new incentives to boost green hydrogen projects

The plant is currently in its final testing phase. (Image source: DEWA)

Energy

Dubai Electricity and Water Authority (DEWA) has started trial operations and electricity export from its pumped-storage hydroelectric power plant in Hatta, following an announcement by HE Saeed Mohammed Al Tayer, MD and CEO of DEWA, during a site visit to the project.

The plant, currently in its final testing phase, has already produced more than 17,921 megawatt-hours of electricity.

Once fully operational, it will provide 250 MW of generation capacity, 1,500MWh of storage, and is expected to operate for up to 80 years. With peak demand in Hatta at around 39 MW, surplus power will be supplied to Dubai’s grid.

Al Tayer toured the underground power station, located 60 metres below ground level, where he reviewed the operation of two main water valves weighing 110 tonnes each.

He also visited the command and control centre, witnessed operational tests of pumping and generation, and inspected the upper dam, which has a storage capacity of 5.3mn cubic metres of water.

Expanding renewable targets

The structure consists of two compressed concrete walls, the main wall rising 72 metres in height and stretching 225 metres in length.

The AED1.42bn project is part of DEWA’s wider efforts to expand renewable and storage technologies.

Alongside solar PV, concentrated solar power, and battery systems, the Hatta plant contributes to the Dubai Clean Energy Strategy 2050 and the Dubai Net-Zero Carbon Emissions Strategy 2050, which target 100% clean energy generation by mid-century.

Using a closed-loop system, the plant generates electricity by releasing water stored in the upper dam through a 1.2 km tunnel to spin turbines, achieving a turnaround efficiency of nearly 79%.

Power can be dispatched to DEWA’s grid in less than 90 seconds when demand peaks. During low-demand periods, solar power from the Mohammed bin Rashid Al Maktoum Solar Park will be used to pump water back to the upper reservoir.

Also read: Dubai invests US$2bn on expanding electricity transmission network

 

The company’s portfolio spans automotive V-belts, multi-rib belts, and timing belts. (Image source: Universal Rubber)

Manufacturing

Universal Rubber Belts Manufacturing has inaugurated its new high-specification facility in Dubai, creating a regional source of precision-engineered rubber belts for automotive and industrial applications across the GCC.

The plant is positioned to strengthen supply chain resilience by reducing dependence on imported transmission components while offering shorter lead times, consistent quality, and tailored engineering solutions.

“Universal Rubber Belt Manufacturing is addressing a long-standing gap in the regional market: the need for reliable, locally manufactured rubber belts that meet global technical standards,” said Mahyar Razaghi, CEO at Universal Rubber Belt Manufacturing. “Our production is tailored to serve both automotive aftermarket distributors and industrial OEMs with durable, high-performance solutions.”

key features

The company’s portfolio spans automotive V-belts, multi-rib belts, and timing belts for passenger and commercial vehicles, as well as industrial belts used in pumps, compressors, and HVAC systems. It also offers specialised options such as high-temperature, oil-resistant, and anti-static belts, alongside custom engineering and private-label manufacturing for partners in the region.

Belts are produced using advanced compounding, precision moulding, and stringent quality control, and comply with ISO, SAE, and DIN standards. The factory is designed to accommodate both high-volume production runs and smaller, specialised batches, depending on client needs.

From its base in Dubai, the company benefits from strong logistics links that enable fast delivery to customers in the UAE, Saudi Arabia, Oman, Qatar, Kuwait, and Bahrain. It also supports long-term supply agreements and export requirements.

Universal Rubber Belts Manufacturing, headquartered in Dubai, focuses on the design and manufacture of technical rubber belts for both automotive and industrial use. By combining high-quality production with efficient regional distribution, the company aims to provide Gulf clients with consistent supply, quick turnaround, and precise technical performance.

Also read: Smart manufacturing hub launched in Ras Al Khaimah

 

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bauma to highlight climate neutrality next year

Climate neutrality is one of the key topics of bauma 2025. (Image source: Messe München GmbH)

bauma, one of the world’s leading construction and mining machinery trade fairs that is run on a three-ear cycle, is returning 7-13 April 2025 at the Trade Fair Center Messe München, Germany

This year, the event is looking to answer how construction processes be as climate-neutral as possible in the future, a pertinent topic in the modern age as the world strives to reach net zero goals.

A statement from bauma has outlined some of the key areas progress can be made, and where the event in Germany will focus on:

• Process automation: “As the international construction machinery industry has already been vigorously driving forward this development for decades, for example, through increasingly economical components, much has already been achieved in this regard,” said Joachim Schmid, managing director in the construction machinery and building material plants division at the German Mechanical Engineering Industry Association (VDMA).

• Digitalisation: At bauma, opportunities around digitalisation and automation will be clear with digital solutions enabling better planning of machines. Developing more sophisticated machine-to-machine communication can ensure more efficient production chains, while smart sensors can monitor machine status. These are but some of the advantages being realised which bring tangible benefits such as avoiding idle times and increasing energy consumption.

• Alternative drive concepts: In addition to the use of electric motors, many companies are focusing on developing and testing hydrogen-power construction machinery. Such concepts – in addition to alternative fuels like HVO – have great potential for reducing greenhouse gases. “Because alternative drive concepts are currently so relevant for manufacturers and users, we are dedicating a separate key topic to this technology segment at bauma 2025,” surmised Nicole Schmitt, bauma exhibition director.

• Continuing the conversation: According to the bauma organisers, to make sure a transformation to climate-neutral construction succeeds, then discussions between industry stakeholders need to be maintained. At bauma, machine manufacturers, construction companies, politicians, researchers, and everything in-between will be represented and encourage to partake in the dialogue and drive the industry forward.

Click here to visit the website to learn more.

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Energy

The new incentives focus on reducing financial barriers during the critical early stages of project development

Energy

Hydrom, the authority driving Oman’s national Green Hydrogen Strategy, has announced a fresh set of fiscal incentives aimed at enhancing the commercial viability of projects participating in the country’s third green hydrogen auction round.

The measures reflect feedback from a market sounding exercise earlier this year and respond to evolving global hydrogen market trends, reinforcing Oman’s reputation as one of the world’s most structured and investment-ready hydrogen ecosystems.

Supportive fiscal framework for early-stage projects

The new incentives focus on reducing financial barriers during the critical early stages of project development. Developers will benefit from a 90% reduction in land lease fees during the development stage, with the possibility of further reductions during the Front-End Engineering Design (FEED) phase.

In addition, base royalties will be significantly lowered during the first years of production, and corporate tax exemptions of up to 10 years will be available.

These measures are designed to improve project economics, increase internal rates of return, and accelerate progress toward final investment decisions.

Flexible and scalable auction structure

Oman’s third green hydrogen auction round offers a land block of up to 300 sq km in Duqm, with minimum project sizes set at 100 sq km.

Bidders have the flexibility to define the footprint of their projects within the block, allowing them to tailor development plans to match individual strategies and market needs. This approach ensures both transparency and scalability, attracting a wide range of potential investors and developers.

Strong market interest

The auction has already drawn significant attention, with nearly 100 registrations from leading industry players and consortia spanning the green hydrogen value chain. This robust response underlines the growing interest in structured, policy-backed green hydrogen investment opportunities.

Round 3 continues to attract first movers and institutional investors eager to establish or expand their presence in a competitive and well-regulated market.

Encouraging participation and consortium building

The Statement of Qualification (SoQ) submission window remains open until 31 October 2025. Hydrom encourages all interested participants to register and submit their documents through the dedicated online platform.

To support the creation of strong project consortia, Hydrom will also release an updated consortium matchmaking list, a tool that has successfully connected qualified participants with strategic partners in previous rounds.

By combining a supportive fiscal framework, flexible auction design, and tools to facilitate collaboration, Hydrom is setting the stage for accelerated growth of Oman’s green hydrogen sector while attracting global investment.

Stonepeak currently manages 10.4 GW of renewable energy capacity

The plant is currently in its final testing phase. (Image source: DEWA)

Water

KROHNE will showcase its latest innovations for the water and wastewater sector. (Image source: KROHNE)

Water

KROHNE, a global leader in precision instrumentation and measurement solutions, will showcase its latest innovations for the water and wastewater sector at the Global Water Expo 2025, taking place from 2-4 September 2025 at the Riyadh Front Exhibition & Conference Centre.

Exhibiting within the Germany Pavilion, the company will present advanced flow, level, pressure, and analytical instrumentation designed to enhance efficiency and resilience in Saudi Arabia’s water infrastructure.

“KROHNE’s participation in Global Water Expo 2025 affirms our commitment to supporting Saudi Arabia’s bold vision for sustainable water infrastructure,” said Jay Gadhavi, general manager, KROHNE Middle East. “We bring decades of expertise in precision measurement, allied with a determination to co-create resilient, energy-efficient solutions that align with the Kingdom’s Vision 2030 goals of innovation, environmental stewardship, and infrastructure modernisation.”

Key features

Among the highlights will be the Modular Water Analysis Panel, a flexible multi-parameter system for measuring dissolved oxygen, turbidity, conductivity, pH, and ORP; the Water-Industry Planning Tool, an online platform for configuring devices and generating tender specifications; and a web-based flow tracking service for monitoring non-revenue water, detecting leaks, and identifying usage patterns.

Other featured solutions include the FOCUS-1 Smart Meter Valve, which combines multiple measurement and control functions into a single device; the TIDALFLUX 2300 Electromagnetic Flowmeter for accurate readings in partially filled pipes; and the WATERFLUX 3070 District Metering Solution, designed for potable water and custody transfer applications with integrated leak detection.

Reflecting its commitment to sustainable water management, KROHNE will demonstrate how these solutions can improve energy efficiency, support regulatory compliance, and strengthen long-term infrastructure performance. Visitors can engage with both regional and international experts at the Germany Pavilion to explore how these technologies can help shape the Kingdom’s future water ecosystem.

Also read: Water diplomacy: how UAE supports island nations' water security

 

Visitors will also see the W80 AXgen axial flux motor. (Image source: WEG)

GS Inima reported revenue of €389mn in 2024

Construction

Volvo CE’s next-generation mid-sized excavator range (Image source: Volvo CE)

Construction

Following the debut of its latest generation of excavators in Africa and the Middle East, Volvo Construction Equipment (Volvo CE) has detailed the engineering improvements that are driving greater power, durability and fuel efficiency.

Earlier this year, the company rolled out a complete refresh of its mid-sized excavator line-up, which includes the EC210, EC220, EC230, EC260, EC300 and EC360 models. To showcase their capabilities, the machines were tested in challenging, real-world conditions, going head-to-head against earlier Volvo models and leading competitor brands. The trials demonstrated clear gains in both productivity and fuel economy.

The larger EC260 to EC360 units are powered by the Volvo D8L engine – a proven design also used in Volvo Trucks and Volvo Buses – capable of delivering reliable performance at a maximum 1,600 rpm under load. The EC210 to EC230 models run on Volvo D5E or D6E engines, achieving a maximum 1,800 rpm under load. Combined with advanced MCV technology, these engines deliver outstanding fuel economy. In testing, the EC210 achieved up to 14% better fuel efficiency than competitors in its class, while the EC360 posted up to 21% gains over rival machines operating at peak rpm.

In a move away from optional heavy-duty specifications, Volvo CE now builds the entire new generation as an ‘HD lineup’, with a redesigned upper frame for maximum strength. This makes the machines suitable for demanding environments such as South Africa’s hard rock quarries. “We made a strategic decision to build the entire range as heavy duty from the start,” said Olle Watz, excavator product manager, Volvo CE region international. “This new standard ensures every excavator is prepared for demanding applications, including continuous work with a hydraulic breaker, providing customers with greater versatility and a more durable asset.”

Higher productivity

For the EC260 to EC360 models, a boom/swing priority function is now standard, giving operators better control over hydraulic flow. “The boom/swing priority is a simple but highly effective feature,” said Watz. “By allowing operators to allocate hydraulic flow where it's needed most, they can significantly cut cycle times in repetitive loading positions common in mining and quarrying. It’s a smart way to boost productivity without any extra cost.” In trials, the EC360 delivered up to 25% higher productivity compared to competitor machines.

Recognising that operator performance is key, Volvo CE has also introduced a completely new human-machine interface (HMI) and ROPS-certified cab. Enhancements include improved air conditioning, a clearer display and a more intuitive control layout. Safety features such as a standard rearview camera and an optional three-point seatbelt address growing safety requirements in the region.

The new models can be fitted with Volvo Dig Assist straight from the factory, enabling precise work without manual site marking or depth checks. The system offers 2D functionality for setting depth and slope, In-Field Design for satellite-guided excavation of complex shapes, and 3D capabilities for large-scale engineering projects. On-Board Weighing helps optimise truck loading. “It was crucial that our customers in the Middle East and Africa have access to the same advanced technology as anywhere else in the world,” said Watz. “The full suite of Dig Assist is available, with system capabilities that are 100% identical to what is offered in Europe. This gives contractors a powerful tool to bid on and execute complex projects with maximum precision.”

By combining a reinforced structure, efficient engines, advanced hydraulics and an improved operator environment, Volvo CE’s latest excavators are designed to deliver higher productivity, reduced operating costs and extended uptime in the region’s most challenging applications.

Also read: Volvo CE supports MAR Marine’s expansion across Middle East and Africa

Dubai Municipality’s is focused on safeguarding building standards

Cat motor graders delivering in harsh environments (Image source: Cat)

Mining

The UAE continues to strengthen its footprint in Africa’s mining industry

Mining

Mining and investment ties between the UAE and the Democratic Republic of Congo (DRC) gained significant momentum in 2025 with the signing of a series of strategic agreements.

As the world’s leading producer of cobalt, accounting for over 70% of global output, as well as a major tin supplier and Africa’s top copper producer, the DRC is drawing growing interest from UAE investors looking to secure critical minerals for energy transition and high-tech industries.

With an estimated US$24 trillion in untapped mineral reserves, the DRC is seeking to attract long-term UAE investments to unlock greater value across its mining value chain. African Mining Week (AMW) 2025, one of the continent’s flagship mining events, is expected to provide a key platform for strengthening bilateral cooperation. It will be held in October. 

A dedicated Middle East-Africa Roundtable will convene high-level stakeholders, including UAE investors, DRC policymakers, and regional mining operators, to explore investment-ready projects and policy alignment.

Increased global demand for minerals central to electric vehicles and renewable energy systems has encouraged the UAE to expand its footprint in the DRC’s extractive industries. Recent investments signal a deeper commitment to supporting local beneficiation while securing reliable supply chains.

In July 2025, Congolese mining firm Buenassa entered a partnership with UAE-based NG9 Holding to establish the country’s first integrated copper-cobalt refinery.

Key Africa investments

The facility will produce 30,000 tonnes of copper cathodes and 5,000 tonnes of cobalt sulphate per year, supporting the DRC’s efforts to move up the value chain and capture more revenue from its mineral wealth.

A month earlier, Abu Dhabi’s International Resources Holding (IRH) finalised a US$366mn deal to acquire a majority stake in Alphamin Resources, gaining access to the Bisie Tin Complex, one of the world’s largest and highest-grade tin deposits.

Tin from Bisie currently accounts for about 6% of global supply, and demand is projected to rise 20% by 2035. At AMW, IRH’s investment will feature in a panel discussion titled Cobalt Opportunity: DRC’s Strategic Position in the EV Revolution, aimed at connecting Gulf capital with African resources.

Beyond mining, UAE players are also investing in the DRC’s power infrastructure. NG9 Holding signed an agreement with local utility Kipay Energy to co-develop a 46 MW hydropower plant in Haut-Katanga, contributing to a planned 166 MW capacity.

These developments underscore how UAE-DRC cooperation is expanding across both mining and energy, with AMW 2025 expected to catalyse further deals and partnerships.

The UAE continues to strengthen its footprint in Africa’s mining industry, with a series of strategic investments aimed at boosting production, infrastructure, and energy security across key markets.

Just this February, investment fund Ambrosia Investment Holding acquired a 50% stake in Canadian company Allied Gold’s mining projects in Ethiopia and Mali.

The deal includes a US$375mn capital injection to accelerate project development, increasing gold output in Ethiopia by 290,000 ounces per year by mid-2026 and in Mali by 400,000 ounces per year by 2028.

The agreement aligns with Saudi Arabia’s Vision 2030 strategy. (Image source: Maaden)

Delivering results in lithium sorting. (Image source: TOMRA Mining)

Manufacturing

The company’s portfolio spans automotive V-belts, multi-rib belts, and timing belts. (Image source: Universal Rubber)

Manufacturing

Universal Rubber Belts Manufacturing has inaugurated its new high-specification facility in Dubai, creating a regional source of precision-engineered rubber belts for automotive and industrial applications across the GCC.

The plant is positioned to strengthen supply chain resilience by reducing dependence on imported transmission components while offering shorter lead times, consistent quality, and tailored engineering solutions.

“Universal Rubber Belt Manufacturing is addressing a long-standing gap in the regional market: the need for reliable, locally manufactured rubber belts that meet global technical standards,” said Mahyar Razaghi, CEO at Universal Rubber Belt Manufacturing. “Our production is tailored to serve both automotive aftermarket distributors and industrial OEMs with durable, high-performance solutions.”

key features

The company’s portfolio spans automotive V-belts, multi-rib belts, and timing belts for passenger and commercial vehicles, as well as industrial belts used in pumps, compressors, and HVAC systems. It also offers specialised options such as high-temperature, oil-resistant, and anti-static belts, alongside custom engineering and private-label manufacturing for partners in the region.

Belts are produced using advanced compounding, precision moulding, and stringent quality control, and comply with ISO, SAE, and DIN standards. The factory is designed to accommodate both high-volume production runs and smaller, specialised batches, depending on client needs.

From its base in Dubai, the company benefits from strong logistics links that enable fast delivery to customers in the UAE, Saudi Arabia, Oman, Qatar, Kuwait, and Bahrain. It also supports long-term supply agreements and export requirements.

Universal Rubber Belts Manufacturing, headquartered in Dubai, focuses on the design and manufacture of technical rubber belts for both automotive and industrial use. By combining high-quality production with efficient regional distribution, the company aims to provide Gulf clients with consistent supply, quick turnaround, and precise technical performance.

Also read: Smart manufacturing hub launched in Ras Al Khaimah

 

Every year on 28 August, the UAE celebrates Emirati Women’s Day. (Image source: Al Gharbia Pipe Company)

The initiative brings together a range of powerful, scalable, modular solutions designed for the Middle East’s manufacturing landscape

Logistics

New Iveco vehicles at the Madrid truck plant (Image source: Iveco)

Logistics

A familiar brand in the region, IVECO celebrates its 50th anniversary in 2025. Shahram Falati, business director for Africa & Middle East, talked to Technical Review Middle East about what to expect next.
 
It is 50 years since the foundation of truck builder IVECO in 1975, when five leading European industrial vehicle manufacturers came together to lead the way in the transport sector. Today, it is a truly global player, with a manufacturing footprint that includes seven production sites and eight research and development centres spread across Europe, Asia, Africa, Oceania and Latin America. Its sales and services footprint spans 3,500 outlets, supporting customers in over 160 countries.
 
To mark the anniversary, IVECO is hosting a series of events throughout 2025, inviting Technical Review Middle East to its Madrid truck plant to speak with Shahram Falati, business director for Africa and the Middle East.
 
As well as honouring the past and celebrating the present, he was keen to highlight the opportunities ahead, including the possibility of new assembly plants in Nigeria and South Africa. The company already has a depot in South Africa, and in Ethiopia, but recognises the huge long-term potential the continent presents.
 
“We are seeing an increased requirement by some countries to introduce local industrial activity,” said Falati. “We have a history of assembly projects in the Middle East and Africa area, so we embrace such requests. We have already inaugurated a new assembly plant in Saudi Arabia and are currently looking at a project in Algeria and South Africa.”
 
There are plans to further highlight the quality differential of the brand too. “We are also strengthening our sales activities in fields where we see high potential for our vehicles, such as our all-wheel offerings, 4x4 and 6x6 and so on, for off-road missions. On top of this, we have plans on facing the tough competition coming from Chinese brands by campaigns which aim at more client awareness on the differences between the various products and services.”
 
IVECO is investing heavily in future technology, including zero emission engines and bio-fuels, and is keen to introduce what is already being achieved in Europe into Africa and the Middle East.
 
“Currently our product offering covers all market needs. In fact, we have Euro3 technology on all our ranges from Light to Medium and Heavy Duty. Some of our markets have already transitioned to Euro5 and we have a full range also with this emission level serving our wide customer base. Our current product launches are focused on technology improvements and upgrading of some models. This year we introduced the new Eurocargo Range with enhanced engine and comfort as well as a full Natural Gas Power lineup. Next year, we will also be seeing enhancements to our Daily range bringing us in line with our European offering.”
 
Major sectors where IVECO trucks are deployed include construction and mining, while oil and gas is also a growing market.
 
“We are fortunate that in our territory there is an abundance of opportunity and most of our markets have a growth outlook,” said Falati. “For example, in Morocco, the tourism industry is booming and the country will also host the 2030 World Cup. We see a high level of activity, especially on infrastructure, which is exciting as we have all the vehicles needed for these requirements. There is also activity in the commodity segment and the opening of new mines. To capture this highly-demanding client base, we have set up a special project team. We believe we have the correct off-road product offering, and with training of specialised salesmen, I am very optimistic about bridging the gap between demand and offer in this important segment.” 

The route is the latest addition to SolitAir’s expanding network. (Image source: SolitAir)

Trains will travel at speeds of up to 200 km/hr. (Image source: WAM)

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