Saudi Arabia's private utility developer Acwa Power has signed initial agreements with two Chinese companies to bolster collaboration in areas such as green hydrogen and ammonia, and renewable energy.
The agreements were signed with state-owned China Southern Power Grid International Company and clean energy company MingYang Smart Energy Group, Acwa Power said in a statement on Wednesday.
“Acwa Power has been at the forefront of this co-operation, and we are excited to continue working with our Chinese partners to build a more sustainable future,” said Mohammad Abunayyan, chairman of Acwa Power.
“Signing the two MoUs [memorandums of understanding] will strengthen our collaboration in green hydrogen and ammonia, global renewable energies, and integrated smart energies.”
Acwa Power, backed by the Public Investment Fund, operates in 12 countries across the Middle East, Africa, Central Asia and South-East Asia.
The company's portfolio comprises 77 projects in operation, advanced development or construction with an investment value of $78.2 billion and the capacity to generate 50.4 gigawatts of power and manage 6.8 million cubic metres of desalinated water a day.
Acwa Power has been boosting its investments to expand its portfolio globally. Last week, it signed partnership agreements with six Italian companies to explore development of green hydrogen and water desalination projects.
In August, Dubai Electricity and Water Authority picked the Riyadh-based utility as preferred bidder to develop and operate the first phase of its seawater reverse osmosis plant at Hassyan.
Acwa Power made a bid to invest about $914 million in the project, which has a capacity of more than 180 million imperial gallons (818.2 million litres) a day.
The company, which is developing a $5 billion green hydrogen-based ammonia production plant in Saudi Arabia’s smart city Neom, plans to “replicate” the project elsewhere, Andrea Lovato, global head of hydrogen at Acwa Power, told The National in February.
The green hydrogen project at Neom will use 4 gigawatts of renewable power from solar, wind and storage to produce 650 tonnes a day of hydrogen from electrolysis.
The project, expected to come on stream in 2025, will produce about 1.2 million tonnes of green ammonia a year, the company said at the time.
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The 90th Academy Awards will be aired in the UAE from 3.30am on Monday, March 5 on OSN, with the ceremony starting at 5am
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One in nine do not have enough to eat
Created in 1961, the World Food Programme is pledged to fight hunger worldwide as well as providing emergency food assistance in a crisis.
One of the organisation’s goals is the Zero Hunger Pledge, adopted by the international community in 2015 as one of the 17 Sustainable Goals for Sustainable Development, to end world hunger by 2030.
The WFP, a branch of the United Nations, is funded by voluntary donations from governments, businesses and private donations.
Almost two thirds of its operations currently take place in conflict zones, where it is calculated that people are more than three times likely to suffer from malnutrition than in peaceful countries.
It is currently estimated that one in nine people globally do not have enough to eat.
On any one day, the WFP estimates that it has 5,000 lorries, 20 ships and 70 aircraft on the move.
Outside emergencies, the WFP provides school meals to up to 25 million children in 63 countries, while working with communities to improve nutrition. Where possible, it buys supplies from developing countries to cut down transport cost and boost local economies.
Brief scoreline:
Liverpool 2
Keita 5', Firmino 26'
Porto 0
Spain drain
CONVICTED
Lionel Messi Found guilty in 2016 of of using companies in Belize, Britain, Switzerland and Uruguay to avoid paying €4.1m in taxes on income earned from image rights. Sentenced to 21 months in jail and fined more than €2m. But prison sentence has since been replaced by another fine of €252,000.
Javier Mascherano Accepted one-year suspended sentence in January 2016 for tax fraud after found guilty of failing to pay €1.5m in taxes for 2011 and 2012. Unlike Messi he avoided trial by admitting to tax evasion.
Angel di Maria Argentina and Paris Saint-Germain star Angel di Maria was fined and given a 16-month prison sentence for tax fraud during his time at Real Madrid. But he is unlikely to go to prison as is normal in Spain for first offences for non-violent crimes carrying sentence of less than two years.
SUSPECTED
Cristiano Ronaldo Real Madrid's star striker, accused of evading €14.7m in taxes, appears in court on Monday. Portuguese star faces four charges of fraud through offshore companies.
Jose Mourinho Manchester United manager accused of evading €3.3m in tax in 2011 and 2012, during time in charge at Real Madrid. But Gestifute, which represents him, says he has already settled matter with Spanish tax authorities.
Samuel Eto'o In November 2016, Spanish prosecutors sought jail sentence of 10 years and fines totalling €18m for Cameroonian, accused of failing to pay €3.9m in taxes during time at Barcelona from 2004 to 2009.
Radamel Falcao Colombian striker Falcao suspected of failing to correctly declare €7.4m of income earned from image rights between 2012 and 2013 while at Atletico Madrid. He has since paid €8.2m to Spanish tax authorities, a sum that includes interest on the original amount.
Jorge Mendes Portuguese super-agent put under official investigation last month by Spanish court investigating alleged tax evasion by Falcao, a client of his. He defended himself, telling closed-door hearing he "never" advised players in tax matters.
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Mercedes V250 Avantgarde specs
Engine: 2.0-litre in-line four-cylinder turbo
Gearbox: 7-speed automatic
Power: 211hp at 5,500rpm
Torque: 350Nm
Fuel economy, combined: 6.0 l/100 km
Price: Dh235,000
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