Industrial

The portfolio Masdar plans to acquire consists of 48 operational solar plants of 2GW aggregated capacity. (Image source: Adobe Stock)

Masdar reached an agreement with Endesa to become a partner for 2.5GW of renewable energy assets in Spain

This is subject to regulatory approvals and other conditions. The transaction would see Masdar invest US$817mn to acquire a 49.99% stake, with an enterprise value of US$1.7bn, representing one of Spain’s biggest renewable energy deals.

The portfolio Masdar plans to acquire consists of 48 operational solar plants of 2GW aggregated capacity. Endesa and Masdar aim to add 0.5GW of battery energy storage system (BESS) to the projects. The partnership reinforces Masdar’s reputation as a trusted global energy partner for governments, investors, developers, and communities.

In addition to the acquisition Share Purchase Agreement (SPA), Masdar and Endesa have signed a Memorandum of Understanding (MoU) to explore an alliance aimed at jointly developing renewable energy projects in Spain.

The deal reflects Masdar’s ambitious growth plans in Europe, having recently announced that it has reached a definitive agreement with Greece’s GEK TERNA SA and other shareholders of TERNA ENERGY SA to initially acquire 67% of the company’s outstanding shares, subject to regulatory approvals and other conditions. With a strong portfolio of projects in Greece and Europe, TERNA ENERGY is targeting renewable energy operational capacity of 6GW by 2030.

In March this year, Masdar and Spain’s Iberdrola also reached financial close on the 476MW Baltic Eagle offshore wind project located in the Baltic Sea off the coast of Germany.

HE Dr Sultan Al Jaber, chairman of Masdar, said, “Building on Masdar’s global expertise and pioneering approach to renewable energy innovation and development, this partnership underscores our commitment to unlocking clean energy capacity in Spain, Europe, and around the world, supporting the global mandate enshrined in the COP28’s UAE Consensus to triple renewable energy capacity by 2030 enabling a just, orderly and equitable energy transition. Masdar is accelerating its ambitious growth plans as we target 100GW of renewable energy capacity by the end of the decade.”

The facility will utilise KBR's leading ammonia synthesis loop technology to deliver cost-competitive and low-carbon intensity ammonia. (Image source: KBR)

KBR has announced that its blue ammonia technology has been selected by Shell for its Blue Horizons low-carbon hydrogen and ammonia project in Duqm, Oman

The facility will utilise KBR's leading ammonia synthesis loop technology to deliver cost-competitive and low-carbon intensity ammonia. KBR will provide licensed proprietary engineering design for the 3,000 metric tons per day ammonia plant utilising hydrogen produced by Shell's Blue Hydrogen technology.

"We are excited to work with Shell on this breakthrough project in Oman and contribute towards achieving Oman's Vision 2040 targets," said Jay Ibrahim, president, KBR Sustainable Technology Solutions. "Our blue ammonia technology allows our clients to implement their energy transition projects with a cost-competitive solution at the lowest carbon intensity."

KOC contract

This news follows KBR’s earlier announcement that it has been awarded an advisory consulting contract by Kuwait Oil Company for the development of a country wide masterplan for the production of 17GW of renewables and 25GW of green hydrogen by 2050. KBR will provide advisory consulting services to develop a phased strategy for the deployment of wind and solar power, combined with power storage capability. The renewable power capability will be linked to the production of green hydrogen for internal industrial use, as well as for export purposes.

Distress calls dropped by 7.6% in 2023. (Image source: Inmarsat)

The 2024 edition of The Future of Maritime Safety Report from Inmarsat Maritime calls for the maritime industry to embrace data sharing and collaborative problem-solving as the industry navigates significant changes, such as the transition to greener propulsion technologies

The report recommends that the shipping industry establishes a list of standard data points to monitor and report, including casualties and incidents, injuries or deaths at sea, and near misses. It also endorses trend analysis to support the development of safety measures, with a particular emphasis on developing risk treatments for well-known and recurring issues.

The report reveals that Global Maritime Distress and Safety System (GMDSS) distress calls decreased by 7.6% in 2023 over the previous year. Despite this decline, the service was still triggered on 788 occasions, underlining the ongoing challenges in maritime safety and the need for improvements. It highlights the emergence of potential new safety risks associated with future fuels, and escalating geopolitical tensions.

Identifying trends

Peter Broadhurst, senior vice president, Safety and Regulatory, Inmarsat Maritime, said, “By harnessing the power of anonymised safety data, we can identify trends, develop specific mitigation measures, and enhance the overall safety of our ships and crews."

He noted that modern technology offers unprecedented opportunities to improve safety through better data analysis and sharing.

“We collect vast amounts of safety data, yet the current siloed-working model hinders our ability to fully leverage the actionable insights available to us. By pooling data, we can create a more holistic and objective view of maritime safety to inform performance improvements and ultimately reduce the occurrence of preventable safety incidents to save lives at sea.”

These pipes range in diameter from 100 mm to 300 mm. (Image source: Canva)

The Sharjah Electricity, Water and Gas Authority (Sewa) has declared that the northern emirate's Al Haray's commercial and industrial districts will soon have access to electricity.

Following the strictest safety and security guidelines, the first phase aims to establish 12 sub-distribution stations with a voltage of 11 kV and a length of 12 km. The total cost of these stations is US$5.1mn. 

Sewa emphasised that it was still committed to supply the Al Haray development with clean, safe water.

It said that the installation of the main water lines and pipelines has already started.

These pipes range in diameter from 100 mm to 300 mm and are composed of Glass Reinforced Epoxy (GRE) material. To serve all users in the industrial and commercial sections of Al Haray, the pipes will have a total length of 30,000 linear metres.

Saud Abdulaziz, the director of the Khorfakkan Department at Sewa, said it was giving power connection in both industrial and commercial areas of Al Haray.

The implementation of the commercial area link will cost AED 7 million, while the industrial area connection would cost more than AED 12 million.

It also stated that these activities will not stop until a permanent 33 kV main distribution station is built in order to completely power the region.