Energy

Turkish Airlines has been presented with the Sustainable Financing Pioneer
Award by Ishka, recognizing its landmark transaction that, for the first time, integrated a
sustainability-linked loan structure into a multi-currency JOLCO financing model for the
acquisition of two next-generation, fuel-efficient Airbus A321neo aircraft.
This innovative transaction, arranged by Societe Generale, links the financing
terms to Turkish Airlines’ Sustainability Performance Targets (SPTs), particularly the
goal of reducing carbon intensity across its fleet.
Commenting on the award, Turkish Airlines’ Member of the Board and the
Executive Committee, and Chief Financial Officer (CFO), Assoc. Prof. Murat
Şeker, stated: “We are proud to receive this international recognition for incorporating a
sustainability-driven financing structure in our aircraft financing strategy. We believe this
structure not only supports our fleet renewal and growth objectives, but also reinforces
our long-term commitment to becoming a carbon-neutral airline by 2050.”
With a strong track record of executing aircraft financing transactions totaling
approximately 16 billion USD in the last ten years, Turkish Airlines has received over 30
international awards from prestigious organizations including Global Transport Finance,
Airline Economics, Airfinance Journal, and Bonds, Loans & Sukuk Türkiye. The
Sustainable Financing Pioneer Award further affirms the flag carrier’s leadership in
integrating sustainability into aviation finance.
Turkish Airlines, Inc.
Media Relations

The Rabigh 2 Solar Independent Power Plant (IPP) has successfully reached financial close on May 15, 2025, under Round 5 projects of Saudi Arabia’s National Renewable Energy Program (NREP), which is led and supervised by the Ministry of Energy.  The project is being developed by a consortium comprising Aljomaih Energy & Water Company as the lead developer and TotalEnergies Renewables SAS as the consortium partner, underscoring the strong collaboration between leading local and international energy companies.

Located in Rabigh, Makkah Province, the Rabigh 2 Solar IPP is implemented under a Build, Own, Operate (BOO) model and will boast a generation capacity of 300 MW. The Saudi Power Procurement Company (SPPC) will purchase the electricity generated over 25 years. The project is financed with a total value of SAR 825 million, supported by a consortium of lenders including Al Rajhi Bank, ADCB, SMTB, and DBS Bank (Hong Kong). Once operational, Rabigh 2 will be capable of powering approximately 53,000 residential units.

In this context, Mr. Ibrahim Mohammed Al Abdulaziz Aljomaih, Chairman of the Board of Directors at Aljomaih Energy and Water Company, stated: “Rabigh 2 Solar IPP reflects our unwavering commitment to supporting the Saudis’ ambitious Vision 2030, the National Renewable Energy Program and the Saudi Green Initiative. At Aljomaih Energy and Water, we are proud to collaborate closely with relevant government entities to advance Saudi Arabia’s clean energy transition. This achievement is considered a national contribution that supports the Kingdom’s leadership in sustainable development.”

Eng. Adnan Abdulhadi Buhuligah, Deputy CEO of Aljomaih Energy and Water Company added: “Reaching financial close on Rabigh 2 is the result of seamless collaboration with our partners, including TotalEnergies, government stakeholders, and our financing institutions. This project exemplifies Aljomaih Energy and Water Company’s capability to lead and deliver complex, utility-scale renewable projects with high technological efficiency. It is a model of international partnerships driving forward the Kingdom’s renewable energy future.”

This project represents a new addition to Aljomaih Energy and Water Company’s renewable energy portfolio, as it is located adjacent to the existing South Rabigh Project, which is currently operational and generating 300 MW. The financial close of Rabigh 2 marks a pivotal milestone in the company’s journey toward renewable energy transformation. It also reflects the confidence of both local and international developers in the Kingdom’s investment environment and the National Renewable Energy Program, led and supervised by the Ministry of Energy, which aims to increase the share of renewable energy sources in the energy mix to approximately 50% by 2030.

Al Fanar Gas Group, one of the UAE’s leading gas and energy solutions providers, and the energy arm of EHC Investment, has signed a strategic Memorandum of Understanding (MoU) with Siemens Energy, a global energy technology leader, to jointly advance decarbonization and clean energy innovation across the UAE.

The agreement, signed on the sidelines of the World Utilities Congress 2025 in Abu Dhabi, supports the UAE Net Zero 2050 Strategy. The two companies will co-develop clean energy solutions that integrate advanced digital technologies into energy and industrial infrastructure, with a focus on areas such as hydrogen and Power-to-X, flare gas management, and port and vessel electrification.

These efforts will be backed by rigorous feasibility studies to identify scalable solutions that can be seamlessly integrated into existing energy networks. The collaboration will also leverage Siemens Energy’s global expertise in digitalization to introduce intelligent systems that optimize energy consumption, monitor emissions, and streamline operations – accelerating the energy transition in a practical and measurable way.

Khaled Ben Said, CEO of Al Fanar Gas Group, commented, “This partnership is not just about technology – it’s about responsibility. As a UAE company, we see it as our duty to help shape an energy future that reflects the values and ambitions of our leadership. Working with Siemens Energy allows us to pair local insight with global innovation to address the region’s most pressing energy challenges. This MoU is a commitment to actionable progress – not in the distant future but starting now.”

Khalid Bin Hadi, Managing Director for the UAE, Siemens Energy, said: “The MoU reflects our commitment to working with regional partners to explore practical pathways towards decarbonization. We look forward to collaborating with Al Fanar Gas Group to identify solutions that are both scalable and aligned with the UAE’s long-term sustainability objectives.”

Schneider Electric, a global leader in the digital transformation of energy management and automation, announced its participation at the World Utilities Congress 2025 in Abu Dhabi to showcase its latest innovations in grid modernization and utilities digitalization.

At its booth in Hall 5 at the ADNEC Centre Abu Dhabi, Schneider Electric is unveiling its AI-powered digital grid solution, the One Digital Grid Platform, which was launched globally earlier this year. Designed to enhance grid resilience and flexibility, the platform enables utilities and businesses to operate more efficiently while reducing energy costs. Built on a secure, cloud-based architecture, it integrates advanced analytics to deliver real-time operational insights.

The platform is proven to reduce outages by up to 40%, shorten distributed energy resource (DER) interconnection timelines by 25%, and cut application deployment time by 60%. Schneider Electric’s One Digital Grid Platform will be available to utilities later this year for implementation.

Senior leadership from Schneider Electric including Amel Chadli, President of the Gulf Cluster and Walid Sheta, MEA Zone President will engage in high-level discussions focused on clean energy supply chains, modernization of energy systems, and electrification.

“Utilities in the region are embracing a smarter, cleaner future,” commented Amel Chadli, President of the Gulf Cluster, Schneider Electric. “The World Utilities Congress, hosted by The Abu Dhabi National Energy Company (TAQA) has positioned itself as a key industry platform, convening industry giants and to discuss strategies to deliver secure and sustainable utilities. Our participation every year reflects a strong commitment to driving the future of energy in the region. Collaboration and innovation are crucial to modernizing energy systems and in building resilient, flexible grids that can meet evolving demands and support a sustainable future.”

Schneider Electric will also showcase its Grids of the Future portfolio, designed to enable customers and utilities to transform and digitize their businesses. The company’s team of experts will also present energy-efficient solutions including water utilities digitalization and integrated operations, intelligent software for energy management and tools for improving grid performance.

As regional utilities navigate increasing energy demands and long-term sustainability targets, digital innovation is playing a growing role in shaping future-ready infrastructure. In the UAE, the utilities sector is central to national decarbonization goals, such as the Energy Strategy 2050, aimed to triple renewable energy capacity, improve energy consumption efficiency by up to 45%, and achieve net-zero emissions by 2050. The UAE has plans to invest up to AED 200 billion by 2030 to deliver on an increasing demand for energy.

EPointZero, the decarbonization platform of 2PointZero, and International Resources Holding (IRH), a leading mine-to-market platform and subsidiary of 2PointZero, have signed a Memorandum of Understanding (MOU) to jointly advance the full decarbonization of IRH’s global mining operations.

The agreement was signed on 22 May 2025 during Make it in the Emirates by Mohamed Hesham, Group Chief Investment Officer of 2PointZero, and Ali AlRashdi, CEO of International Resources Holding. The signing was witnessed by H.E. Dr. Sultan Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology, International Holding Company’s (IHC) CEO and Managing Director, Syed Basar Shueb, and H.E. Mariam Almheiri, 2PointZero’s Group CEO.

As part of the MoU, EPointZero and IRH will initially target Mopani Copper Mines, where IRH acquired a 51% stake in March 2024, a transaction that cemented IRH’s commitment to long-term growth and sustainable development in the mining and minerals space.

It also follows EPointZero’s landmark 1 GWh energy storage deal with UAE-based Enercap by Apex Energy, announced on 19 May 2025 at Make it in the Emirates. That transaction, among the largest of its kind globally, gives EPointZero immediate access to cutting-edge, non-chemical supercapacitor storage technology, positioning it to deploy advanced energy systems at scale across mining and industrial operations.

H.E. Mariam Almheiri, 2PointZero’s Group CEO, commented: “Decarbonizing legacy sectors requires more than capital, it takes alignment, execution, and a clear view of the future. This collaboration demonstrates how our dynamic value network enables exactly that, connecting capabilities across our portfolio to unlock real transformation. By aligning renewable energy, technology, and resources, we’re not only accelerating low-carbon mining, we’re advancing our mission to build smarter, more sustainable industrial systems for the future.”

Under the terms of the MOU, EPointZero and IRH will establish a dedicated joint taskforce to identify, assess, and implement decarbonization measures across IRH’s operations in Zambia, beginning with Mopani Copper Mines. This will include a holistic carbon baseline assessment that spans mining, smelting, logistics, and auxiliary services, providing the analytical foundation for a phased roadmap toward net-zero operations.

Ali AlRashdi, IRH’s CEO, commented: “Zambia is a strategic hub for IRH, and Mopani represents a cornerstone of our commitment to building a modern, competitive mining platform in Africa. This partnership reflects our mandate to integrate decarbonization into our operations from day one and set a new benchmark for sustainability in resource development.”

At the center of this effort is 2PointZero’s dynamic value network, an ecosystem designed to connect capabilities across its portfolio and unlock cross-sector value creation. By linking IRH’s upstream mineral operations with EPointZero’s access to renewable energy, advanced storage infrastructure, and AI-driven analytics, the dynamic value network becomes the mechanism through which this partnership accelerates decarbonization, reduces system inefficiencies, and delivers scalable outcomes for Zambia and beyond.

The decarbonization strategy will address not only energy consumption but also broader operational efficiencies, from electrifying fleet and machinery, to reducing waste and emissions across the production cycle, to embedding AI-driven tools for predictive resource management and real-time emissions monitoring.

The initial focus will be on integrating on-site renewable energy sources, optimizing grid interactions, and introducing intelligent infrastructure that can adapt to demand fluctuations while minimizing environmental impact. At the same time, both companies are exploring circular models for water reuse, waste minimization, and sustainable sourcing.

These efforts are intended to align with Zambia’s long-term development, while setting a new benchmark for responsible mining in the region.

As part of the implementation of the commitments made in the joint declaration between His Majesty King Mohammed VI, may God Assist Him, and His Highness Sheikh Mohamed bin Zayed Al Nahyan, TAQA Morocco, in partnership with Nareva and the Mohammed VI Fund for Investment, has signed three memorandums of understanding and related development agreements with the Government of Morocco and ONEE. These agreements cover the development of structuring projects in the power, water and renewable energy sectors.

The program aims to strengthen the Kingdom’s water and energy sovereignty through the development of flexible natural gas-based power generation capacity, seawater desalination and water transport infrastructure, and a new power transport line between the south and center of the Kingdom.

Involving a total investment of around 130 billion dirhams by 2030, this partnership will enable:

– The production of 900 million m³ of desalinated water and the transport of 800 million m³ through the water highway project.

– The acquisition of the Tahaddart gas-fired power plant (400 MW) and the addition of 1,100 MW of combined-cycle capacity.

– The development of 1,200 MW of renewable energies under contract with ONEE, as well as an HVDC line of around 3,000 MW.

All of these projects will be equally owned by TAQA Morocco and Nareva, with a 15% stake held by Fonds Mohammed VI pour l’Investissement.

Abdelmajid Iraqui Houssaini, Chairman of the Board of TAQA Morocco:

“This strategic public / private partnership will contribute to significantly and sustainably transform the domestic water and energy landscape in Morocco with the enhancement of desalination capacities and water transmission. It reinforcsereinforces the transmission network with a higher contribution of gas-fired power generation in Morocco’s baseload to increase the integration of renewable energy sources.This important investment programme will also accelerate the growth and diversification of TAQA Morocco’s business portfolio.”

 Innovest Holding LLC, a leading sustainable technologies investment firm based in Abu Dhabi, today announced a landmark strategic partnership with Nevada-based energy solutions innovator OXON™ Technologies. This collaboration marks a significant step forward in pioneering the next generation of green fuels and accelerating the transition to a cleaner energy landscape in the UAE and beyond.

At its heart, this partnership is driven by a shared vision: to bridge the critical global gap for environmentally friendly fuel alternatives. By joining forces, Innovest and OXON™ Technologies are poised to make substantial progress toward achieving the UAE’s ambitious environmental goals, demonstrating a tangible commitment to a more sustainable future.

The newly formed entity will focus on leveraging advanced technology to promote responsible energy use and achieve radical reductions in carbon dioxide emissions. This project is not just an initiative; it’s an essential component of the UAE’s core framework for eco-friendly economic growth and environmental protection – a testament to the nation’s dedication to a greener tomorrow.

“At Innovest, we believe in shaping the future through transformative, sustainable technologies”, Mohammad Mahfouz, Chief Executive of Innovest said. “Our partnership with OXON™ Technologies to introduce OXONtech™ demonstrates commitment to clean energy, industrial growth, and environmental impact, aiming to position the UAE at the forefront of green fuel solutions,” he added.

“OXON™ Technologies welcomes this exciting next step in our two years of development and technology testing and with our UAE partners. This partnership is a testament to our shared vision of sustainable economic growth, technological innovation, and global leadership in environmental responsibility”, Chief Executive of OXON™ Technologies, Andrew Lowenstein said.

Looking ahead, Innovest is eager to collaborate with leaders in the refinery industry. This project is driven by a profound desire to decelerate climate change, promote sustainable development, and safeguard the energy future for the generations to come. Innovest and OXON™ Technologies are excited to embark on this journey together, paving the way for a brighter, greener future for the UAE and the world.

Abu Dhabi Islamic Bank (ADIB), a leading Islamic financial institution, has successfully completed its first on-grid solar photovoltaic (PV) system in JAFZA marking a significant milestone in the bank’s journey towards greater environmental sustainability and reducing is environmental footprint in line with its net-zero plan.

The project forms part of ADIB’s broader commitment to reducing its environmental impact and supporting the UAE’s Net Zero by 2050 strategy, in addition to the bank’s own targets to reduce financed emissions by 2030. This initiative also aligns with ADIB’s Vision 2035 and its focus on ESG integration across operations.

The On-Grid Solar PV project was designed to reduce Scope 2 emissions from facilities building-related emissions by switching to clean, renewable energy, aligning with the goals set during COP28, which call for practical, low-carbon solutions to tackle climate change. This initiative reflects ADIB’s Net Zero strategy to reduce emissions and support the UAE’s national energy transition.

This project is a meaningful step in ADIB’s sustainability journey. ADIB is focused on implementing long-term, practical changes that reduce our environmental footprint and enhance operational efficiency.

The system is expected to deliver energy performance improvements while reducing reliance on non-renewable power sources, reflecting ADIB’s ongoing efforts to support projects that offer both environmental and economic value.

ADIB remains committed to exploring sustainability-focused initiatives across its operations and partner with organisations that share its goal of building a more sustainable and resilient future.

Euro Motors, the luxury automotive arm of the Alzayani Investments Group, has signed a renewable energy agreement with Positive Zero, the Middle East’s largest provider of decarbonization services and on-site solar power solutions. 

The project in Sitra will entail the construction and development of a solar rooftop and carport, which upon completion is expected to have a capacity of 2.7MWp. This will generate 4.7 GWh of electricity per year, which is an equivalent amount of energy as the annual electricity used by 654 households.

The 25-year agreement will result in major environmental benefits, including the annual reduction of more than 3,100 tons of greenhouse gases. For comparison, almost 52,000 trees would need to be planted and grown for 10 years to have a similar level of impact. 

Euro Motors Bahrain is the luxury car dealer for major car brands such as BMW, Rolls Royce, Ferrari, Maserati, Land Rover, Jaguar and MINI. Alzayani Investments Group has a wide portfolio of brands across different industries, underlining its position as one of the leading conglomerates in Bahrain. 

Positive Zero will handle end-to-end build, financing, operations and maintenance of the solar rooftop and carport, ensuring Euro Motors can fully benefit from the environmental and economic cost savings.

Representatives present at the signing ceremony included Mohammed Abdulghaffar Hussain (Chairman, Positive Zero), David Auriau (CEO, Positive Zero), Laurent Longuet (CEO at Positive Zero’s Distributed Generation business, SirajPower), Rashid Zayed Alzayani (Managing Director, Euro Motors), Richard Gough (GM, Euro Motors), Rashed Hamed Alzayani (Managing Director, Midal Solar), and Khalid A.Latif (Chief Executive Officer, Midal Solar).

Discussing the new agreement, Rashid Z. Alzayani, Euro Motors Managing Director said, “We’re proud to launch this major new sustainability project with Positive Zero, which sets a new benchmark for Bahrain’s automotive sector. As the industry itself changes, we too must find novel and intelligent ways to give back to the environment. We fully support the government’s National Energy Strategy, as we reduce emissions and head towards net-zero by 2060.”

David Auriau, CEO Positive Zero said, “We are excited to collaborate with Euro Motors in decarbonizing their facilities. Our onsite solar infrastructure solutions will reduce Euro Motor’s operational costs and carbon footprint, setting a new benchmark for sustainability in the automotive Industry. With the support of Alzayani Investments, we look forward to further exploring our decarbonization-as-a-service offering across its businesses to accelerate the Group’s and the Kingdom’s clean energy transition.”

Speaking on behalf of Midal Solar (a subsidiary of Midal Cables), the Engineering, Procurement and Construction (EPC) contractor for the project, Managing Director Rashed Hamed Alzayani commented, “This initiative stands as a testament to the growing commitment of the Kingdom’s companies to integrate sustainable practices into their core operations. We are honored to serve as the EPC partner for this landmark project, and we look forward to leveraging our technical expertise to deliver a cutting-edge Tier-1 solar energy solution that advances both environmental responsibility and long-term economic value.

With a proven track record of delivering over 7.2 MWp of solar projects across the Kingdom, Midal Solar continues to play a leading role in the transition to clean energy, helping to reduce thousands of tons of CO₂ emissions each year. Our involvement in this project reflects our dedication to driving innovation, delivering impact, and supporting the Kingdom’s sustainability goals.”

Schneider Electric, the leader in the digital transformation of energy management and automation, opened registration for their 2025 Schneider Go Green Competition. Backed by Schneider Electric’s Youth Education & Entrepreneurship and Access to Energy programs, this challenge invites teams of students and young entrepreneurs from around the world to create solutions that promote reliable energy access, enhanced wellbeing, and greater cost savings for communities.

This year’s competition theme is ‘Renewable Energy for Life & Livelihood’, which splits into two key areas. The first is solar-powered agriculture like pre/post-harvesting, storage, and processing. The second is solar-powered microbusinesses in fields such as retail, services, refrigeration, manufacturing, and production.

Registration is open from April 1 until May 31, which is also the deadline for participants to form teams. Teams must then submit their project proposal by June 30. Winners will share a prize pool of €10,000 (1st place: €6,000; 2nd place: €2,500; 3rd place: €1,500). Each winning team member will also receive a Solar Family Home Kit.

“The Schneider Go Green Competition is a testament to our commitment to nurture the next generation of talent,” said Charise Le, Chief Human Resources Officer at Schneider Electric. “By providing students with mentorship and learning opportunities, we empower them to develop solutions that address real-world challenges. This competition not only fosters creativity and collaboration but also aligns with our values of Action and Inclusion. We are proud to support these diverse minds.”

Youth development

This year, Schneider Electric is offering participants access to a premium online course, Get into Energy Transition, through Schneider Electric University, to develop their technical skills in sustainability and improve understanding of the green economy. This training is a result of international collaboration between the Youth Education & Entrepreneurship program and INCO. It aims to accelerate impactful and scalable solutions and prepare students for a career in the industry.

Mentorship is a key part of the Schneider Go Green Competition. Schneider Electric guides participants via the Youth Education & Entrepreneurship and Access to Energy programs. Mentoring sessions help students refine their ideas, develop practical solutions, and gain insights into the real-world applications of their projects.

Quote from winners of the 2022 competition: “We were soon assigned a mentor from Schneider Electric, who helped us develop our bold idea. They were our guiding star, helping us to align our project to Schneider’s technical and business requirements. We complemented each other so that our solution was both attractive and closely connected to users’ needs. Throughout the process, we faced challenges, but even difficulties and failures didn’t distract us. We tried to reach the goal the four of us believed in day after day.”