French utility company Engie is targeting a renewable energy capacity of 80 gigawatts by 2030 from 35 gigawatts at present as it plans to extend its global clean energy portfolio.
The company is planning to start new projects in Europe, the US, the Middle East and Africa and Australia, Frederic Claux, Engie’s country manager for GCC and Pakistan told The National on the sidelines of the World Green Economy Summit in Dubai on Wednesday.
“We want to grow to 80 [gigawatts] by 2030 and are looking at different countries,” said Mr Claux, who is also the company's managing director of thermal and supply for Asia, Middle East and Africa.
The projects involve a “lot of money and we are going to partner with some other companies in terms of equity”, he said.
Companies globally are investing heavily in new clean energy projects as the world focuses on cutting emissions to limit global warming. Saudi Arabia’s Acwa Power this week said it will increase its renewable capacity to 120 gigawatts in the next 10 years, from 43 gigawatts currently.
Global investment in the renewable energy sector climbed 11 per cent year on year to $226 billion in the first half of 2022, according to an August report by research provider BloombergNEF.
Investment in new large and small-scale solar projects rose 33 per cent to a record-breaking $120bn during the period, while wind project financing grew 16 per cent to $84bn, the report said.
Engie also aims to expand in the renewables sector in the UAE and Saudi Arabia, the Arab world’s two largest economies. The company is planning to bid for the 1.5 gigawatts Al Abjan solar project in Abu Dhabi as well as new renewable projects in Saudi Arabia.
“The governments in the region have massive ambitions in terms of growing renewables and they have also pledged to become net zero, by 2050 for the UAE and 2060 for Saudi Arabia. The energy transition is in motion and there are huge opportunities in the sector,” Mr Claux said.
The UAE, Opec's third-largest oil producer, has Dh600bn ($163.5bn) worth of clean and renewable energy investments planned over the next three decades.
Saudi Arabia, meanwhile, aims to grow the share of gas and renewable energy in its power mix to 50 per cent by 2030. The kingdom this week launched five new renewable energy projects with a total capacity of 3.3 gigawatts, including three wind projects and two solar schemes.
“There is a bright future in the region, especially with the availability of vast land, and radiation from the sun is much better … it’s not exactly a windy region but if you go to the northern part of Saudi [Arabia], in front of Sinai and Egypt, this area is good for wind conditions.”
Engie is at present working with a dairy farm in Saudi Arabia to supply solar energy for the company and reduce its carbon footprint.
It is also phasing out coal plants as it aims to become carbon neutral by 2045. It plans to phase out coal plants in Europe by 2025 and globally by 2027.
“We started to divest or close our power plants 10 years ago, so it’s almost complete. Last week, we announced divestment in Brazil, one of the last coal plants we still had,” Mr Claux said.
The company continues to operate gas-fired power plants and “it’s kind of a necessary ingredient [gas] in energy transition because of the intermittency of renewables”, he said.
The gas network will provide the flexibility that is needed to support the grid and to support the energy transition, he said.
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The biog
First Job: Abu Dhabi Department of Petroleum in 1974
Current role: Chairperson of Al Maskari Holding since 2008
Career high: Regularly cited on Forbes list of 100 most powerful Arab Businesswomen
Achievement: Helped establish Al Maskari Medical Centre in 1969 in Abu Dhabi’s Western Region
Future plan: Will now concentrate on her charitable work
England-South Africa Test series
1st Test England win by 211 runs at Lord's, London
2nd Test South Africa win by 340 runs at Trent Bridge, Nottingham
3rd Test July 27-31 at The Oval, London
4th Test August 4-8 at Old Trafford, Manchester
Biog:
Age: 34
Favourite superhero: Batman
Favourite sport: anything extreme
Favourite person: Muhammad Ali
Sheer grandeur
The Owo building is 14 storeys high, seven of which are below ground, with the 30,000 square feet of amenities located subterranean, including a 16-seat private cinema, seven lounges, a gym, games room, treatment suites and bicycle storage.
A clear distinction between the residences and the Raffles hotel with the amenities operated separately.
The specs
Engine: 2.0-litre 4-cyl, 48V hybrid
Transmission: eight-speed automatic
Power: 325bhp
Torque: 450Nm
Price: Dh359,000
On sale: now
THE SPECS
Engine: Four-cylinder 2.5-litre
Transmission: Seven-speed auto
Power: 165hp
Torque: 241Nm
Price: Dh99,900 to Dh134,000
On sale: now
SPEC SHEET
Display: 10.9" Liquid Retina IPS, 2360 x 1640, 264ppi, wide colour, True Tone, Apple Pencil support
Chip: Apple M1, 8-core CPU, 8-core GPU, 16-core Neural Engine
Memory: 64/256GB storage; 8GB RAM
Main camera: 12MP wide, f/1.8, Smart HDR
Video: 4K @ 25/25/30/60fps, full HD @ 25/30/60fps, slo-mo @ 120/240fps
Front camera: 12MP ultra-wide, f/2.4, Smart HDR, Centre Stage; full HD @ 25/30/60fps
Audio: Stereo speakers
Biometrics: Touch ID
I/O: USB-C, smart connector (for folio/keyboard)
Battery: Up to 10 hours on Wi-Fi; up to 9 hours on cellular
Finish: Space grey, starlight, pink, purple, blue
Price: Wi-Fi – Dh2,499 (64GB) / Dh3,099 (256GB); cellular – Dh3,099 (64GB) / Dh3,699 (256GB)
Company profile
Name: Tratok Portal
Founded: 2017
Based: UAE
Sector: Travel & tourism
Size: 36 employees
Funding: Privately funded
AS IT STANDS IN POOL A
1. Japan - Played 3, Won 3, Points 14
2. Ireland - Played 3, Won 2, Lost 1, Points 11
3. Scotland - Played 2, Won 1, Lost 1, Points 5
Remaining fixtures
Scotland v Russia – Wednesday, 11.15am
Ireland v Samoa – Saturday, 2.45pm
Japan v Scotland – Sunday, 2.45pm
COMPANY PROFILE
Founders: Alhaan Ahmed, Alyina Ahmed and Maximo Tettamanzi
Total funding: Self funded
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MATCH INFO
Liverpool 0
Stoke City 0
Man of the Match: Erik Pieters (Stoke)
SAUDI RESULTS
Team Team Pederson (-40), Team Kyriacou (-39), Team De Roey (-39), Team Mehmet (-37), Team Pace (-36), Team Dimmock (-33)
Individual E. Pederson (-14), S. Kyriacou (-12), A van Dam (-12), L. Galmes (-12), C. Hull (-9), E. Givens (-8),
G. Hall (-8), Ursula Wikstrom (-7), Johanna Gustavsson (-7)
Volvo ES90 Specs
Engine: Electric single motor (96kW), twin motor (106kW) and twin motor performance (106kW)
Power: 333hp, 449hp, 680hp
Torque: 480Nm, 670Nm, 870Nm
On sale: Later in 2025 or early 2026, depending on region
Price: Exact regional pricing TBA
Day 5, Abu Dhabi Test: At a glance
Moment of the day When Dilruwan Perera dismissed Yasir Shah to end Pakistan’s limp resistance, the Sri Lankans charged around the field with the fevered delirium of a side not used to winning. Trouble was, they had not. The delivery was deemed a no ball. Sri Lanka had a nervy wait, but it was merely a stay of execution for the beleaguered hosts.
Stat of the day – 5 Pakistan have lost all 10 wickets on the fifth day of a Test five times since the start of 2016. It is an alarming departure for a side who had apparently erased regular collapses from their resume. “The only thing I can say, it’s not a mitigating excuse at all, but that’s a young batting line up, obviously trying to find their way,” said Mickey Arthur, Pakistan’s coach.
The verdict Test matches in the UAE are known for speeding up on the last two days, but this was extreme. The first two innings of this Test took 11 sessions to complete. The remaining two were done in less than four. The nature of Pakistan’s capitulation at the end showed just how difficult the transition is going to be in the post Misbah-ul-Haq era.
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What can victims do?
Always use only regulated platforms
Stop all transactions and communication on suspicion
Save all evidence (screenshots, chat logs, transaction IDs)
Report to local authorities
Warn others to prevent further harm
Courtesy: Crystal Intelligence
The 10 Questions
- Is there a God?
- How did it all begin?
- What is inside a black hole?
- Can we predict the future?
- Is time travel possible?
- Will we survive on Earth?
- Is there other intelligent life in the universe?
- Should we colonise space?
- Will artificial intelligence outsmart us?
- How do we shape the future?
Race card:
6.30pm: Baniyas (PA) Group 2 Dh195,000 1,400m.
7.05pm: Maiden (TB) Dh165,000 1,400m.
7.40pm: Handicap (TB) Dh190,000 1,200m.
8.15pm: Maiden (TB) Dh165,000 1,200m.
8.50pm: Rated Conditions (TB) Dh240,000 1,600m.
9.20pm: Handicap (TB) Dh165,000 1,400m.
10pm: Handicap (TB) Dh175,000 2,000m.
SPECS
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