This week, Emerge, a joint venture between Masdar and the EDF Group, and Sharjah National Oil Corporation (SNOC) held a groundbreaking ceremony for a 60MWp ground-mounted solar PV plant located at SNOC’s Sajaa Gas Complex in Sharjah, UAE.
Emerge will be responsible for the entire project lifecycle under a Build-Own-Operate-Transfer (BOOT) agreement.
This includes financing, design, procurement, construction, operation, and maintenance of the solar modules for a period of 25 years.
Michel Abi Saab, Emerge General Manager, commented: “Emerge is proud to be a part of this landmark project, alongside our client SNOC.
“Our turnkey solutions offer businesses like SNOC the ability to transition towards a sustainable future without upfront costs.”
Against a backdrop of an intensifying climate crisis, last year at COP28 in Dubai, countries pledged both to triple renewable energy capacity by 2030 and transition away from fossil fuels. However, the world is off-track on both.
Indeed, the IEA recently found that the world is “falling short” on progress towards the 2030 goal. Alongside this, according to the Energy Institute, in 2023, fossil fuels dominated, despite record growth in renewables, and the world is also witnessing continued expansion of fossil fuels. This is despite the consensus among climate scientists that the accelerated phase-out of fossil fuels is imperative.
Speaking on the tripling target, IEA Executive Director Fatih Biro said: “This report makes clear that the tripling target is ambitious but achievable – though only if governments quickly turn promises into plans of action.”