Connect with us

Announcements

Africa Finance Corporation and SkyPower Global to start work for DR Congo’s energy needs

Published

on

Spread the love

Renewable energy in the Democratic Republic of Congo (DRC) is set to get a significant boost as Africa Finance Corporation (AFC) and SkyPower Global have come decided to come together for the first phase of the latter’s Green Giant project in the country.

This 200MW Phase 1 is a crucial step in realising the landmark 1,000MW Solar Power Purchase Agreement (PPA) signed between SkyPower and the DRC’s state-owned utility, Société Nationale d’Electricité (SNEL).

The partnership creates a formidable force in the pursuit of sustainable energy solutions for the continent in the fight against climate change. The venture will leverage SkyPower’s unparallelled global experience in developing large-scale solar projects and AFC’s proven track record of successfully de-risking and distributing capital for well-structured power and other infrastructure projects across Africa.

Coming in the wake of COP28, this agreement underscores both organisations’ dedication to the United Nations Sustainable Development Goals, particularly emphasising the critical role of partnerships in accelerating renewable energy adoption and addressing the escalating climate crisis.

The DRC Green Giant project, heralded by the signing of the initial PPA with SNEL, marked a historic commitment from the DRC government to enhance electrification rates through renewable energy partnerships. President Félix Tshisekedi’s strategic vision targets a significant boost to the nation’s clean energy output, contributing to a projected US$2.3 billion stimulus to the DRC’s GDP and the creation of approximately 30,000 job years.

The Joint Development Agreement is set to catalyse the construction of the first 200MW phase of the project, with all necessary approvals secured and land allocation completed, ensuring a swift transition to development stage and the commencement of construction by 2025.

“Partnering with SkyPower, an institution known for their decades of global expertise in large-scale solar projects, is well aligned with our mission to advance energy access on the continent through renewable energy,” said Amadou Wadda, Senior Director of Project Development and Technical Solutions at AFC, the continent’s leading infrastructure solutions provider.

“Through this collaboration, we aim to contribute significantly to rapid industrialisation, local job creation, sustainable economic growth and a pragmatic transition to net zero in DRC and Africa as a whole.

Kerry Adler, President & Chief Executive Officer of SkyPower, highlighted AFC’s leadership role and its commitment to fast-tracking the deployment of essential energy projects as crucial to leveraging solar energy to spur economic development, create job opportunities, and tackle climate change effectively. “Partnering with AFC exemplifies a concerted effort toward realizing the ambitious goals set by forward-looking countries such as the DRC, aiming for a brighter, more sustainable future for everyone,” Adler noted. “This agreement underlines AFC’s pivotal contribution to promoting renewable energy solutions and both AFC and SkyPower’s unwavering commitment and dedication to ensuring a greener, more resilient world.”

SkyPower Global stands at the forefront of utility-scale solar energy project development and project ownership around the world, boasting over 20 years of operational history. The company is supported by a highly experienced team, collectively holding more than 1600 years of expertise in power, empowerment, and significant infrastructure initiatives. SkyPower has diligently developed an extensive pipeline of projects exceeding 10GW, which are at diverse stages of development, construction, and operation. This broad pipeline demonstrates SkyPower’s strong commitment to and expertise in the renewable energy sector, with projects set for implementation in strategic locations like the Middle East, Africa, and South Asia in the near future.

SkyPower has developed over 30 utility-scale solar Power Purchase Agreements (PPA) currently in operation across the globe and contracts, amounting to more than USD $60 billion in long-term renewable energy sales to leading utilities and government partners worldwide. Adding to its robust profile, SkyPower is majority-owned by CIM Group, a community-focused real estate and infrastructure owner, operator, lender, and developer. Since its inception in 1994, CIM Group has been committed to creating value in its projects and making a positive impact on the lives of people in communities across the Americas. Through its efforts, CIM Group has delivered more than $60 billion in essential real estate and infrastructure projects, furthering SkyPower’s mission to transform the energy landscape and enhance community well-being through sustainable development.

Announcements

UAE fuel prices for June announced: Petrol edges closer to Dh4 a litre

Published

on

Spread the love

The UAE announced revised fuel prices for June 2026, with motorists set to pay significantly more for petrol while diesel costs decline compared to the previous month.

The latest adjustment is particularly notable as it marks the country’s first monthly fuel pricing update since formally leaving both OPEC and OPEC+ earlier this year.

Beginning June 1, Super 98 petrol will be priced at Dh3.95 per litre, up from Dh3.66 in May. Special 95 will rise to Dh3.83 per litre from Dh3.55, while E-Plus 91 will increase from Dh3.48 to Dh3.76 per litre.

In contrast, diesel users will benefit from a reduction, with prices falling from Dh4.69 per litre in May to Dh4.33 in June.

The latest increase extends a three-month upward trend in petrol prices, reflecting ongoing volatility in global energy markets and fluctuations in crude oil prices.

Impact on residents

For households across the UAE, fuel price movements remain a key economic indicator, influencing transportation costs, daily commuting expenses and overall household budgets. Rising petrol prices can have a noticeable impact on monthly spending, particularly for residents who rely heavily on private vehicles.

The June pricing announcement comes just weeks after the UAE officially ended its six-decade membership in OPEC and OPEC+, a move that took effect on May 1, 2026.

The revised prices will come into effect from June1, 2026.

Continue Reading

Announcements

Dubai announces Dh1.5 billion package to protect jobs and support businesses

Published

on

Spread the love

Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum has approved a fresh Dh1.5 billion economic support package aimed at protecting jobs, easing pressure on businesses and strengthening Dubai’s economy during a challenging period for the region.

The latest measures bring the total value of Dubai’s recent economic support initiatives to Dh2.5 billion, following an earlier Dh1 billion package introduced earlier this year.

The new package includes 33 initiatives that will be rolled out over the next three to 12 months, targeting key sectors including tourism, hospitality, trade, education and customs services.

One of the biggest beneficiaries is Dubai’s hotel and tourism industry, with several major fee relief measures announced to reduce operating costs.

Hotels across the emirate will be allowed to postpone 100 per cent of government sales fees on rooms as well as food and beverage services for three months. The relief applies to hotels, hotel apartments and holiday homes.

Dubai has also postponed the Tourism Dirham fee, a charge applied to hotel stays for up to 30 consecutive nights, for the same period. Hotels will additionally be exempt from permit, postponement and cancellation fees related to events.

Retailers and commercial businesses are also expected to benefit, with Dubai removing additional charges linked to sales campaigns and promotional offers. The move is likely to encourage more discounts and shopping promotions across the city over the coming months.

The package further includes streamlined procedures for residency permit issuance and renewals, although detailed implementation guidelines are yet to be announced.

Other sectors receiving support include education, customs, transport and aviation. Measures include deferred licence renewal fees for educational institutions, payment deferrals in the transport sector, an 80 per cent reduction in customs fines and a 50 per cent cut in fees for renewing civil aviation permits.

In a statement shared on X, Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum said the initiatives reinforce Dubai’s economic resilience and competitiveness while strengthening partnerships between the government and private sector.

He added that Dubai remains committed to supporting businesses and residents while continuing to position itself as a leading global economic hub.

Continue Reading

Announcements

Dubai property boom fuels ANAROCK’s Middle East expansion plans

Published

on

Spread the love

ANAROCK Group has announced a major leadership reshuffle as it looks to expand its footprint across the Middle East and Europe, with a strong focus on Dubai’s growing real estate market.

The independent real estate consultancy said the appointments come as the region enters a new phase of growth, driven by rising investor confidence, infrastructure expansion and increasing demand across residential and institutional real estate sectors.

New leadership appointments

Anuj Kejriwal has been appointed CEO, EMEA, while continuing his current role as Founding Partner and Head of Retail Advisory.

In his expanded position, Kejriwal will oversee the rollout of ANAROCK’s institutional advisory services across the Middle East, including capital markets, land services, consulting and valuation.

The company said Dubai will act as the launchpad for its wider regional expansion strategy before moving into broader European markets.

Meanwhile, Aayush Puri has been named CEO – Residential, Middle East and CEO of ANAROCK Channel Partner (ACP).

He will lead the firm’s residential business across the region while continuing to oversee the international operations of ANACITY, the group’s proptech and property management platform.

Focus on Dubai’s growth

According to ANAROCK, Dubai’s real estate market remains one of the key long-term growth drivers for the company, supported by strong economic fundamentals and sustained investor demand.

The firm also plans to hire senior local talent across consulting, residential and capital markets divisions as part of its expansion push.

Anuj Puri, Chairman of ANAROCK Group, said the leadership changes reflect the company’s commitment to strengthening its regional presence and capturing new cross-border opportunities in one of the world’s most dynamic real estate markets.

Continue Reading

Popular

© Copyright 2025 HEADLINE. All rights reserved

https://headline.ae/