Announcements
Africa Finance Corporation and SkyPower Global to start work for DR Congo’s energy needs
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.
The UAE has announced a long-term residency for environment advocates. Called ‘Blue Residency’, the 10-year visa will be granted to individuals who have made “exceptional contributions and efforts in the field of protecting the environment”.
Applicable fields include boosting the air quality and green technology. “The sustainability of our economy has become linked to the sustainability of our environment,” said Sheikh Mohammed bin Rashid, Vice-President and Prime Minister of the UAE, as he chaired a Cabinet meeting on Wednesday.
Blue Residency: Who is eligible
The Blue Residency will specifically be granted to supporters of environmental action. This includes members of international organizations, international companies, members of associations and non-governmental organizations and global award winners. It also includes distinguished activists and researchers in environmental work. Those are interested in the residency are invited to submit their applications through the Federal Authority for Identity, Citizenship, Customs, and Port Security, or through nominations by competent authorities.
The UAE already grants 10-year residency visas, called golden visas, to eligible investors, entrepreneurs, scientists, outstanding students and graduates, humanitarian pioneers and frontline heroes.
Abdulaziz Al Ghurair, Chairman of the UAE Banks Federation (UBF), affirmed that the national domestic card scheme, Jaywan, is poised to generate substantial financial savings for numerous companies and retailers across the country, amounting to AED 1 billion compared to conventional cards such as Visa and MasterCard.
During remarks made at a meeting hosted by the UAE Banks Federation in collaboration with local and international media at the Mashreq Bank headquarters in Dubai, Al Ghurair elaborated on the cost efficiency of Jaywan. He highlighted that the adoption of this system and the utilization of new cards would significantly reduce expenses for businesses. Consequently, it is anticipated to save companies and retailers between AED 600 million and AED 1 billion, factoring in pricing or discount fees relative to current card schemes.
Al Ghurair noted that banks are unable to replace more than 10 million cards simultaneously. As a result, the implementation of the Jaywan direct debit card, designed for local in-store transactions, will occur progressively. Customers will receive the new card upon renewal, ensuring a seamless transition.
Moreover, he emphasised that while customers may opt for another international card based on personal preference, the new Jaywan card will be recognized across the Gulf Cooperation Council (GCC) region and numerous other countries through bilateral agreements.
Under the directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of The Executive Council of Dubai, today approved the ‘Dubai Quality of Life Strategy 2033’, a visionary strategy dedicated to ensuring the comprehensive wellbeing of all segments of the community including nationals, residents and visitors. Encompassing a holistic and integrated approach to wellbeing, the strategy aims to establish Dubai as a global leader in quality of life and enhance its status as the world’s preferred destination to live, work and visit.
HH Sheikh Hamdan bin Mohammed stressed that caring for people remains the cornerstone of Dubai’s sustainable development strategies. The wellbeing of individuals is the ultimate objective of our development plans and the primary criterion for the success of government programmes.
“We have today approved the Dubai Quality of Life Strategy 2033 as part of our efforts to raise our global standing in the economy as well as in the areas of innovation and wellbeing. The vibrancy and cultural diversity of our society are key to our development journey.”
“The Dubai Quality of Life Strategy encompasses over 200 projects, initiatives, and plans. The strategy encompasses ten key pillars, all dedicated to fostering the wellbeing of individuals, society, and the city. Our objective is to establish Dubai as one of the world’s best cities in terms of wellbeing, offer every resident a healthy, active, and enjoyable lifestyle, build a society that takes pride in its identity and cultural diversity, and offer the highest quality of leisure and entertainment. Dubai’s name will become synonymous with fine living worldwide.”
“All projects initiated as part of the strategy will be overseen by a new office dedicated to enhancing quality of life in Dubai, in coordination with over 19 government entities and dozens of private organisations,” His Highness added.
Innovative initiatives
HH Sheikh Hamdan bin Mohammed Al Maktoum made these remarks after reviewing the highlights of the Dubai Quality of Life Strategy, which is aligned with the Dubai 2040 Urban Master Plan. The strategy features an integrated roadmap for sustainable urban development in the city for all segments of the community aimed at realising His Highness’s vision for Dubai’s future and establishing it as one of the world’s best cities in terms of wellbeing.
Upon arrival at the designated location for the plan’s launch at Keturah Reserve, His Highness was received by His Excellency Mattar Al Tayer, Commissioner-General for Infrastructure, Urban Planning and Well-Being Pillar. His Highness was briefed about a host of innovative initiatives that included wellbeing districts, the 20-minute city concept, development of a new generation of parks, the walking strategy, development plans for outlying areas, the development of beaches, the landscaping strategy, and the development of sports and entertainment facilities accessible to all.
HH Sheikh Hamdan bin Mohammed reviewed the new vision for designing model neighbourhoods covering three districts across Dubai: Al Mizhar 1, Al Khawaneej 2, and Al Barsha 2. This new vision aims to enhance the infrastructure of these existing neighbourhoods by upgrading social amenities and services, promoting soft mobility options for healthier living environments, and improving connections between community hubs such as parks, mosques, and shops.
More than 115 km of pedestrian and cycling tracks will be constructed, more than 3,000 trees and plants will be planted, and more than 20 investment opportunities will be created during Phase 1 of the strategy for the residents of Al Khawaneej 2 and Al Barsha 2.
The redevelopment plans include upgrading the existing collector streets and constructing shaded canopies, lanes for bikes and e-scooters, pedestrian walkways, restrooms, and family recreational spaces.
The vision also involves landscaping, constructing distinctive architectural gateways for each residential community, giving a unique character to every neighbourhood, and improving alleyways and street intersections to boost safety and provide pedestrian lanes.
Furthermore, it offers investment opportunities for locals, enhances public services, and delivers the ’20-minute city’ concept, which aims to ensure residents can access 80% of essential services within a 20-minute journey aboard soft and sustainable mobility options.
His Highness also reviewed the designs of the next generation of parks in Dubai, featuring new and innovative design elements that cater to the diverse needs of the community, reflect the unique character of each district, and incorporate sustainable activities to foster wellbeing. More than 30 parks with the new designs will be developed across the emirate within three years.
HH Sheikh Hamdan bin Mohammed directed all government departments in Dubai to expedite the implementation of projects and initiatives linked to the Dubai Quality of Life Strategy.
UAE announces 10 year Blue Residency Visa
‘Jaywan’ poised to generate savings of up to AED1 billion: Chairman of UBF
