Abu Dhabi clean energy company Masdar and Albania's state power utility Kesh have signed a preliminary joint venture agreement to explore the development of “gigawatt-scale” renewable projects in Albania.
The joint venture will develop and operate solar, wind and hybrid projects, with potential integration of battery storage, Masdar said on Wednesday. The energy produced is expected to be supplied to the Albanian market and exported to neighbouring countries.
“By leveraging the UAE’s world-class expertise in renewable energy and Albania’s abundant natural resources, our purpose-built, future-ready infrastructure will deliver more energy with fewer emissions to more people than ever before,” said Dr Sultan Al Jaber, Minister of Industry and Advanced Technology and Masdar chairman.
Several western Balkan nations depend on polluting lignite coal for at least half their electricity.
Albania, which relies heavily on hydropower, supplements its domestic energy production by importing electricity from its coal-burning neighbours. The country aims to achieve a 54.4 per cent share of renewable energy in its gross final energy consumption by 2030.
“The partnership … is a significant moment not only for Albania’s journey towards a sustainable and secure energy sector, but also embodies the spirit of the strategic partnership between Albania and the UAE,” said Belinda Balluku, Albania’s Deputy Prime Minister and Minister of Infrastructure and Energy.
Masdar, owned jointly by the Abu Dhabi National Energy Company – better known as Taqa, Adnoc and Mubadala, is active in 40 countries. It aims to expand its capacity to at least 100 gigawatts of renewable energy by the end of the decade, from about 20 gigawatts at present.
“As Masdar targets 100 gigawatts by 2030, this joint venture … exemplifies the scale and ambition needed to advance the global energy transition and we look forward to further collaborations in Albania and the Eastern Balkans,” said Mohamed Al Ramahi, chief executive of Masdar.
Separately on Wednesday, Masdar said it signed an agreement with Uzbekistan's Energy Ministry to develop a one-gigawatt wind farm in the Mingbulak region of the country.
Once operational, the wind farm will provide clean energy to 300,000 homes in the region. It is expected to generate 1,000 jobs during construction and 60 jobs during operation.
Last year, Masdar signed a deal to develop 2 gigawatts of wind power in the country, which aims to generate 25 per cent of its energy from renewables by 2030.
Masdar’s growth strategy combines acquiring existing businesses and developing projects across various global markets.
In September, the company signed definitive agreements with Brookfield Renewable and its institutional partners to fully acquire Spanish renewable energy company Saeta Yield. Masdar is investing Dh2.8 billion ($762.4 million) in the Seata deal, which has an implied enterprise value of $1.3 billion, the company said at the time.
The same month it also confirmed the financial close for the 154 megawatt Cibuk 2 wind farm in Serbia. The €144 million ($152.8 million) non-recourse project financing was secured through UniCredit, Erste Group and Erste Bank Serbia, which, Masdar said, is a “testament to the feasibility and the viability of renewable energy projects in Serbia”.
In July, Masdar said it invested €817 million to acquire about a 50 per cent stake in Spanish utility Endesa's solar energy assets.
It came a month after the company signed an agreement to acquire Greece’s Terna Energy for an enterprise value of €3.2 billion. Masdar will first acquire 67 per cent of Terna's outstanding shares upon completing the transaction and will then initiate an all-cash mandatory tender offer to purchase the remaining shares of the company, it said in June.
Tamkeen's offering
- Option 1: 70% in year 1, 50% in year 2, 30% in year 3
- Option 2: 50% across three years
- Option 3: 30% across five years
ACL Elite (West) - fixtures
Monday, Sept 30
Al Sadd v Esteghlal (8pm)
Persepolis v Pakhtakor (8pm)
Al Wasl v Al Ahli (8pm)
Al Nassr v Al Rayyan (10pm)
Tuesday, Oct 1
Al Hilal v Al Shorta (10pm)
Al Gharafa v Al Ain (10pm)
Test squad: Azhar Ali (captain), Abid Ali, Asad Shafiq, Babar Azam, Haris Sohail, Imam-ul-Haq, Imran Khan, Iftikhar Ahmed, Kashif Bhatti, Mohammad Abbas, Mohammad Rizwan(wicketkeeper), Musa Khan, Naseem Shah, Shaheen Afridi, Shan Masood, Yasir Shah
Twenty20 squad: Babar Azam (captain), Asif Ali, Fakhar Zaman, Haris Sohail, Iftikhar Ahmed, Imad Wasim, Imam-ul-Haq, Khushdil Shah, Mohammad Amir, Mohammad Hasnain, Mohammad Irfan, Mohammad Rizwan (wicketkeeper), Musa Khan, Shadab Khan, Usman Qadir, Wahab Riaz
Sour%20Grapes
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Springsteen: Deliver Me from Nowhere
Director: Scott Cooper
Starring: Jeremy Allen White, Odessa Young, Jeremy Strong
Rating: 4/5
If you go...
Fly from Dubai or Abu Dhabi to Chiang Mai in Thailand, via Bangkok, before taking a five-hour bus ride across the Laos border to Huay Xai. The land border crossing at Huay Xai is a well-trodden route, meaning entry is swift, though travellers should be aware of visa requirements for both countries.
Flights from Dubai start at Dh4,000 return with Emirates, while Etihad flights from Abu Dhabi start at Dh2,000. Local buses can be booked in Chiang Mai from around Dh50
The specs
Engine: 4.0-litre flat-six
Torque: 450Nm at 6,100rpm
Transmission: 7-speed PDK auto or 6-speed manual
Fuel economy, combined: 13.8L/100km
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Generation Start-up: Awok company profile
Started: 2013
Founder: Ulugbek Yuldashev
Sector: e-commerce
Size: 600 plus
Stage: still in talks with VCs
Principal Investors: self-financed by founder
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The specs: 2018 Jeep Compass
Price, base: Dh100,000 (estimate)
Engine: 2.4L four-cylinder
Transmission: Nine-speed automatic
Power: 184bhp at 6,400rpm
Torque: 237Nm at 3,900rpm
Fuel economy, combined: 9.4L / 100km
Muslim Council of Elders condemns terrorism on religious sites
The Muslim Council of Elders has strongly condemned the criminal attacks on religious sites in Britain.
It firmly rejected “acts of terrorism, which constitute a flagrant violation of the sanctity of houses of worship”.
“Attacking places of worship is a form of terrorism and extremism that threatens peace and stability within societies,” it said.
The council also warned against the rise of hate speech, racism, extremism and Islamophobia. It urged the international community to join efforts to promote tolerance and peaceful coexistence.
SCHEDULE FOR SHOW COURTS
Centre Court - from 4pm (UAE time)
Angelique Kerber (1) v Irina Falconi
Martin Klizan v Novak Djokovic (2)
Alexandr Dolgopolov v Roger Federer (3)
Court One - from 4pm
Milos Raonic (6) v Jan-Lennard Struff
Karolina Pliskova (3) v Evgeniya Rodina
Dominic Thiem (8) v Vasek Pospisil
Court Two - from 2.30pm
Juan Martin Del Potro (29) v Thanasi Kokkinakis
Agnieszka Radwanska (9) v Jelena Jankovic
Jeremy Chardy v Tomas Berdych (11)
Ons Jabeur v Svetlana Kuznetsova (7)
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Auron Mein Kahan Dum Tha
Starring: Ajay Devgn, Tabu, Shantanu Maheshwari, Jimmy Shergill, Saiee Manjrekar
Director: Neeraj Pandey
Rating: 2.5/5
More on animal trafficking
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UAE currency: the story behind the money in your pockets
Day 1, Dubai Test: At a glance
Moment of the day Sadeera Samarawickrama set pulses racing with his strokeplay on his introduction to Test cricket. It reached a feverish peak when he stepped down the wicket and launched Yasir Shah, who many regard as the world’s leading spinner, back over his head for six. No matter that he was out soon after: it felt as though the future had arrived.
Stat of the day - 5 The last time Sri Lanka played a Test in Dubai – they won here in 2013 – they had four players in their XI who were known as wicketkeepers. This time they have gone one better. Each of Dinesh Chandimal, Kaushal Silva, Samarawickrama, Kusal Mendis, and Niroshan Dickwella – the nominated gloveman here – can keep wicket.
The verdict Sri Lanka want to make history by becoming the first team to beat Pakistan in a full Test series in the UAE. They could not have made a better start, first by winning the toss, then by scoring freely on an easy-paced pitch. The fact Yasir Shah found some turn on Day 1, too, will have interested their own spin bowlers.
BRIEF SCORES
England 228-7, 50 overs
N Sciver 51; J Goswami 3-23
India 219, 48.4 overs
P Raut 86, H Kaur 51; A Shrubsole 6-46
England won by nine runs
MATCH INFO
Qalandars 112-4 (10 ovs)
Banton 53 no
Northern Warriors 46 all out (9 ovs)
Kumara 3-10, Garton 3-10, Jordan 2-2, Prasanna 2-7
Qalandars win by six wickets
Name: Peter Dicce
Title: Assistant dean of students and director of athletics
Favourite sport: soccer
Favourite team: Bayern Munich
Favourite player: Franz Beckenbauer
Favourite activity in Abu Dhabi: scuba diving in the Northern Emirates
Coming 2 America
Directed by: Craig Brewer
Starring: Eddie Murphy, Arsenio Hall, Jermaine Fowler, Leslie Jones
3/5 stars
Skoda Superb Specs
Engine: 2-litre TSI petrol
Power: 190hp
Torque: 320Nm
Price: From Dh147,000
Available: Now
Qosty Byogaani
Starring: Hani Razmzi, Maya Nasir and Hassan Hosny
Four stars
Under 19 Cricket World Cup, Asia Qualifier
Fixtures
Friday, April 12, Malaysia v UAE
Saturday, April 13, UAE v Nepal
Monday, April 15, UAE v Kuwait
Tuesday, April 16, UAE v Singapore
Thursday, April 18, UAE v Oman
UAE squad
Aryan Lakra (captain), Aaron Benjamin, Akasha Mohammed, Alishan Sharafu, Anand Kumar, Ansh Tandon, Ashwanth Valthapa, Karthik Meiyappan, Mohammed Faraazuddin, Rishab Mukherjee, Niel Lobo, Osama Hassan, Vritya Aravind, Wasi Shah
