Latest news with #PowerTechnology
Yahoo
09-06-2025
- Business
- Yahoo
Kazakhstan to boost power capacity to meet rising electricity demand
Kazakhstan's electricity consumption has been on a steady rise, driven by industrial expansion, urbanisation, digitalisation and electrification. The nation's power demand is predominantly fuelled by energy-intensive industries, mining, oil and gas operations, and residential sector growth. This surge in industrial activity has led to a heightened demand for electricity: annual consumption escalated from 83.9 terawatt hours (TWh) in 2020 to 90.9TWh in 2024. This upward trend is anticipated to persist, with projections suggesting an increase to 111TWh by 2035. The industrial sector occupied the dominant share in the country's power consumption, accounting for 56% in 2024. This was followed by the commercial sector with 19.2% and the residential sector with a share of 19.1%. The transport sector held a share of 4%, while other segments contributed to a 1.8% share. In the industrial sector, the fields of metallurgy, mining and oil refining continue to be the predominant consumers. The emergence of new projects in battery metals and green hydrogen has the potential to further escalate demand. The residential sector is experiencing an upsurge in demand, attributable to the increased energy consumption of households. This rise is a direct consequence of urbanisation and elevated living standards, which in turn lead to a higher proliferation of electrical appliances as well as heating and cooling systems. In 2024, the country experienced a 3.8% year-on-year increase in GDP, attributable to the growth of the industrial and manufacturing sectors. Kazakhstan's energy-intensive industries, which include mining, metallurgy and oil refining, account for approximately 60% of the nation's electricity consumption. The trend of urbanisation, coupled with a rise in household energy use, is generating further demand. The Kazakh government estimates that the country would need at least 17.5GW of new capacity to meet local demand by 2035. The Ministry of Energy has therefore proposed the following structure for the new energy capacity required by 2035 as follows: more than 5.1GW of gas-based thermal capacity, more than 2.1GW from hydropower plants, more than 1.4GW of coal-based thermal capacity, more than 6.5GW from renewable power and more than 2.4GW of nuclear power capacity. This is expected to bring in more investments to the sector. "Kazakhstan to boost power capacity to meet rising electricity demand" was originally created and published by Power Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
09-06-2025
- Business
- Yahoo
Mega projects in the UAE, a catalyst for power capacity development
The United Arab Emirates (UAE) boasts one of the most secure and stable electricity supply systems in the region. Leveraging its substantial natural gas and oil reserves, among the largest globally, the UAE generates sufficient electricity to satisfy domestic consumption. The nation primarily utilises its gas for power generation and for reinjection into oil fields to enhance production while designating a significant portion of its oil for export. Backed by an increase in electricity demand, power capacity in the country is expected to reach 79.1GW in 2035, registering a compound annual growth rate (CAGR) of 3.4% during 2024-2035. The annual power generation in the UAE is expected to increase at a CAGR of 3.8% during 2024-2035 to reach 281.3TWh. The power sector in the UAE offers abundant opportunities for investors, with the government poised to make significant investments in the expansion and modernisation of its generation and supply infrastructure. The anticipated increase in capacity is projected to occur predominantly in gas-based thermal power, as opposed to oil, where capacity is expected to remain stable. Manufacturers of gas turbines stand to benefit from this surge in gas-fired power capacity. The UAE's conditions are exceptionally conducive to solar power generation, prompting the government to allocate extensive tracts of undeveloped land for solar parks, including both photovoltaic and concentrated solar power installations. These developments will not only meet local demand but also cater to export needs. Over the past decade, the UAE has experienced a marked increase in electricity demand, necessitating the importation of natural gas from Qatar. In response to this growing demand and to diversify its energy portfolio, the UAE has strategically shifted away from exclusive dependence on natural gas, expanding into the renewable and nuclear energy sectors. The UAE is experiencing a notable surge in electricity demand, driven by its expanding population and urban development. As of 2024, the population stood at approximately 11 million and is projected to rise to 11.9 million by the year 2030. A significant factor in this increased energy consumption is the high expatriate population, which constitutes around 88% of the total and contributes to the growth in residential and commercial energy needs. Additionally, the development of mega urban projects such as Masdar City and Expo City Dubai underscores the necessity for sustainable energy solutions. These smart cities are at the forefront of innovation, yet they also contribute to higher electricity consumption. Consequently, this trend necessitates the expansion of the electrical grid and investment in smart infrastructure to meet the evolving demands. "Mega projects in the UAE, a catalyst for power capacity development" was originally created and published by Power Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Yahoo
04-06-2025
- Business
- Yahoo
GameChange to expand manufacturing capacity to 6GW in Saudi Arabia
GameChange Solar, a supplier of solar tracker and fixed-tilt racking technology, has announced the expansion of its manufacturing facility in Saudi Arabia to six gigawatts (GW) annually. The move will double its current capacity and is expected to be completed by September 2025. The facility will continue manufacturing GameChange Solar's advanced Genius Tracker systems for utility-scale projects. The enhanced capacity aligns with the country's ambitions under its Vision 2030 to become a prominent hub for renewable energy. The expansion will enable GameChange Solar to bolster its capability to supply tracker systems across projects within the country in compliance with local sourcing requirements. GameChange Solar's Genius Tracker system has been engineered for optimal performance in desert conditions. The system, now in its tenth year, offers durability alongside ease of installation and operational efficiency in challenging environments. Since 2015, more than 40GW have been deployed globally across 26 countries on six continents. GameChange Solar vice-president for China and South East Asia Jason Wang stated: 'Our decision to scale up reflects the demand we are experiencing in Saudi Arabia and our readiness to meet it. 'The facility is already operational, and this expansion gives us the capacity to move faster on the large-scale projects coming up in the region. We're building locally, staying close to our customers and preparing for what's next. This is a long-term commitment, not just to supply equipment, but to be part of Saudi Arabia's energy future.' The tracker is designed to adapt to uneven terrain and leverages advanced algorithms for optimal solar energy capture throughout the day. Its intelligent monitoring system facilitates convenient maintenance and is therefore suitable for large-scale solar installations. "GameChange to expand manufacturing capacity to 6GW in Saudi Arabia" was originally created and published by Power Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
27-05-2025
- Business
- Yahoo
Power Summit 2025: Power Technology's upcoming coverage
Rising cybersecurity threats, procurement issues and escalating geopolitical tensions are testing the resilience of Europe's energy sector. Transport, Big Tech and industry are creating new demands – from lower electricity prices and more competitive contracts for industrials to exponentially higher electricity demand for data centres and AI. Meanwhile, the energy price crisis has caused the average energy consumer to be increasingly sceptical of the power sector and Europe's energy transition. Next week, key players across the world's power sector will gather in Brussels, Belgium, for Eurelectric's Power Summit 2025 to address such concerns. Over two days from 3–4 June, hundreds of attendees and speakers comprising energy policymakers across Europe and C-suite professionals in the industry will gather to discuss revolutionary innovations and pressing concerns pertaining to electricity. Under this year's theme, "Power Play", the 2025 summit will cover the importance of accelerating electrification across all sectors to meet Europe's climate goals; security of supply in a changing world; ensuring Europe's competitiveness on the global stage through innovative energy solutions; and mobilising the investment and infrastructure needed to make this transformation a reality. Power Technology will be there too, with reporter Jackie Park available for interviews on the ground. Contact her at to arrange timings and discuss topics before the event. If you have not done so already, you can register for Power Summit 2025 here. To keep up with Power Technology's coverage, sign up to our newsletter and have in-depth power sector insights delivered straight to your inbox. "Power Summit 2025: Power Technology's upcoming coverage" was originally created and published by Power Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
27-05-2025
- Business
- Yahoo
Solaria secures $106m for 175MW Spanish renewable energy project
European renewable energy developer Solaria has signed an agreement in principle with Spanish financial services company Banco Sabadell for the long-term financing of its 175MW Oliva solar project in the province of Guadalajara, Spain. The financing, reaching up to €93.5m ($106.2m), is contingent upon successful due diligence and final approval from the bank's risk committee. The funds will bolster the development of the Oliva solar project, showcasing Solaria's dedication to sustainable digitalisation and energy transition. The project is closely associated with the construction of a data centre, designed to be self-sufficient in energy with a guaranteed 70MW capacity. Solaria CEO Darío López stated: 'We are very pleased to announce this agreement, which reflects Banco Sabadell's reiterated confidence in our company. This financial operation represents a firm step towards the fulfilment of our goals and, consequently, towards the promotion of the energy transition, an essential aspect for the progress of society'. The Oliva solar project, consisting of five photovoltaic plants, will provide 100% renewable energy, sufficient to power 84,000 households annually. The plants, named Oliva solar 1 (50MW), 2 (50MW), 3 (25MW), 4 (25MW) and 5 (25MW), will be located in the Usanos district of Guadalajara and connected to the Daganzo substation. Solaria obtained the necessary administrative construction authorisation for the project in May 2024. Oliva is the company's second solar project in Guadalajara, adding to the existing 626MW Cifuentes-Trillo project in the region. The project will create 700 jobs during its construction phase and will prioritise local employment. In January 2024, Solaria obtained administrative construction authorisation for its 595MW Garoña photovoltaic project in Spain. "Solaria secures $106m for 175MW Spanish renewable energy project" was originally created and published by Power Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
