Fitch upgrades Oman rating to BB

RIYADH: Jordan recorded a 3 percent hike in renewable energy’s share of its total energy mix since the beginning of 2022.

According to Jordan’s Minister of Energy and Mineral Resources, Saleh Al-Kharabsheh, renewable energy sources contributed 29 percent to the total power generation in the country up from 26 percent during the same period last year.

Al-Kharabsheh said the total installed capacity of electric power generation projects from renewable energy sources reached about 2,526 MW until the end of July 2022. 

India’s renewable energy target 

India will miss its renewable energy target for the end of the year, with experts saying “multiple challenges,” including a lack of financial help and taxes on imported components are stalling the clean energy industry.

The country has installed just over half of its planned renewable energy capacity, a high level parliamentary report found last week, according to AP News. 

Enlight’s JV

The publicly traded company, Enlight is planning to create a joint venture with Israeli natural gas producer, NewMed, to develop renewable energy projects in North Africa and the Middle East, Bloomberg reported. 

“The venture will exploit what we see as a very large opportunity in the region that began with natural gas, a development led to a large extent by NewMed,” Enlight CEO Gilad Yavetz told Bloomberg. 

The venture targets the region’s markets namely Saudi Arabia, Morocco, the UAE, Bahrain, Oman, Korean and Egypt. 

New Zealand’s Contact Energy

New Zealand’s Contact Energy said it would spend $300 million New Zealand dollar ($193.29 million) to build a 51.4 MW geothermal power unit near its Te Huka power station in Taupo.

The investment would help bolster the firm’s renewable power generation amid high demand, according to Reuters.