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Mohammed bin Rashid witnesses signing of agreement between Masdar and DEWA to deliver 6th phase of world’s largest single-site solar park PV Project
– UAE’s clean energy powerhouse Masdar awarded sixth phase of Mohammed bin Rashid Al Maktoum Solar Park PV Project in Dubai featuring a cost of up to AED5.51 billion
– The 1,800MW sixth phase will increase solar park’s total production capacity to 4,660MW
– Ahead of UAE hosting COP28, this ambitious programme demonstrates country’s firm commitment to decarbonisation at home and abroad
– Sixth phase of the project, set to be operational in stages starting from Q4 of 2024, will power over half a million residences while reducing carbon emissions by 2.36 million tonnes annually
– All phases of the landmark project are expected to be completed by 2030, with a total investment of AED50 billion
– When fully completed, the solar park will reduce over 6.5 million tonnes of carbon emissions annually
ABU DHABI, UAE, Sept. 6, 2023 /PRNewswire/ — Government of Dubai Media Office: His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, witnessed the signing of an agreement between the Dubai Electricity and Water Authority PJSC (DEWA) and Masdar, Abu Dhabi Future Energy Company PJSC, to build and operate the 1,800 megawatt (MW) sixth phase of the landmark Mohammed bin Rashid Al Maktoum Solar Park, featuring a cost of up to AED5.51 billion.
The agreement was signed in the presence of His Highness Sheikh Mansour bin Zayed Al Nahyan, Vice President and Deputy Prime Minister of the UAE and Minister of the Presidential Court; His Highness Lt. General Sheikh Saif bin Zayed Al Nahyan, Deputy Prime Minister and Minister of the Interior; His Highness Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs; and His Excellency Mohammad bin Abdullah Al Gergawi, Minister of Cabinet Affairs.
HH Sheikh Mohammed bin Rashid said: “Today, I witnessed with Mansour bin Zayed the signing of an agreement between the Dubai Electricity and Water Authority (DEWA) and Masdar, Abu Dhabi Future Energy Company, to implement the sixth phase of the world’s largest single-site solar park, at a cost of AED5.5 billion. This phase will power over half a million residences while reducing carbon emissions by 2.36 million tonnes annually. All phases of this landmark project are expected to be completed by 2030, with a total investment of AED50 billion. We’re on track to achieve our ambitious goal – 100% clean energy for Dubai by 2050.”
His Excellency Dr. Sultan Al Jaber, UAE Minister of Industry & Advanced Technology, Chairman of Masdar and COP28 President-Designate, and His Excellency Saeed Mohammed Al Tayer, Managing Director & Chief Executive Officer of DEWA signed the agreement in Abu Dhabi.
The UAE’s clean energy powerhouse was selected from 23 high-calibre international bidders and offered a Levelised Cost of Energy (LCOE) of USD1.6215 cents per kilowatt hour (kWh), the lowest of any of DEWA’s solar Independent Power Producer (IPP) model projects to date. The current total production capacity of solar projects at the solar park is 2,427MW. DEWA is building another project with a total capacity of 433 MW. The 1,800MW sixth phase of the solar park will increase total production capacity to 4,660MW.
His Excellency Dr. Sultan Al Jaber said: “Being awarded this landmark renewable energy project on the world’s largest single-site solar park is another significant milestone for Masdar. It is a testament to Masdar’s track record in pioneering clean energy projects as we continue to support the UAE’s Net Zero by 2050 strategic initiative. Ahead of our nation hosting COP28 later this year, it is vital that the world triples global renewable energy capacity by 2030 to keep the ambition of 1.5 degrees within reach. This landmark project demonstrates definitive action in our shared journey towards a cleaner, greener future.”
His Excellency Saeed Mohammed Al Tayer, MD & CEO of DEWA, said: “In line with the vision and directives of His Highness Sheikh Mohamed bin Zayed Al Nahyan, President of the UAE; and His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, we are committed to achieving a balance between development and environmental sustainability across social, economic and environmental plans. This underscores the UAE’s prominent status as one of the world’s largest investors in clean and renewable energy projects. It also affirms our support for the UAE’s hosting of the COP28 at Expo City Dubai, aligning our strategies and policies with the UN Sustainable Development Goals 2030 in sustainability, innovation and future-making.”
Al Tayer added: “Dubai is a pioneer in launching programmes, projects and initiatives that promote sustainability, a green economy and preserving natural resources for future generations. Abu Dhabi Future Energy Company (Masdar) was selected as the Preferred Bidder to build and operate the 1,800MW sixth phase of the Mohammed bin Rashid Al Maktoum Solar Park for using photovoltaic solar panels based on the Independent Power Producer (IPP) model, costing up to AED5.51 billion.
When completed, this phase will provide clean energy to approximately 540,000 residences and reduce 2.36 million tonnes of carbon emissions annually. Through phase VI, DEWA has achieved the lowest Levelised Cost OF Energy (LCOE) of USD1.6215 cents per kilowatt hour (kWh). At DEWA, we have a proven track record of clean and renewable energy, emission reduction, and attracting competitive global prices for clean and renewable energy projects. We enhance sustainability in all our projects and initiatives to achieve the goals of the Dubai Clean Energy Strategy 2050 and the Dubai Net Zero Carbon Emissions Strategy to provide 100% of Dubai’s total power capacity from clean energy sources by 2050.”
Mohammed Jameel Al Ramahi, Masdar CEO, said; “Following our successful delivery of phase three of the Mohammed bin Rashid Al Maktoum Solar Park as part of an international consortium, this latest award once again shows that Masdar is a global leader in clean energy as we move forwards from 20GW capacity today to reach 100GW of clean energy capacity by 2030 driving decarbonisation at home and abroad.” When fully completed, the solar park will reduce over 6.5 million tonnes of carbon emissions annually. The 1,800MW sixth phase will become operational in stages starting from Q4 of 2024.
Masdar, the UAE’s clean energy powerhouse established in 2006, is committed to achieving at least 100 GW of total renewable energy capacity by 2030. It is active in more than 40 countries and has invested in a portfolio of renewable energy projects with a combined capacity of more than 20 GW.
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Welcome to Blocks & Headlines, your comprehensive daily briefing on the transformative world of blockchain. Today, we explore groundbreaking partnerships, economic innovations, and blockchain-powered initiatives redefining the future.
Sony Ventures Into Blockchain With New Identity Solutions
Sony has unveiled its latest blockchain-based digital identity solution designed to enhance privacy and security in the online space. This innovative system uses decentralized technology to manage digital credentials, making identity verification seamless and secure.
Sony’s venture reflects a broader trend among tech giants exploring blockchain’s potential to reshape data privacy and authentication systems.
Source: Sony Press Release
TRON’s Daily Revenue Skyrockets 119% in 2024
TRON has reported a staggering 119% increase in daily revenue, a testament to its innovative blockchain economic models. By leveraging smart contracts and a scalable infrastructure, TRON continues to attract developers and businesses seeking cost-efficient blockchain solutions.
This growth positions TRON as a leading player in the competitive blockchain ecosystem, setting benchmarks for others to follow.
Source: Bitcoin.com
MIGMIG Partners With XT.com to Bring Blockchain Rewards
MIGMIG, a blockchain gaming and rewards platform, has partnered with XT.com to expand its reach and user engagement. This collaboration aims to deliver unique blockchain-powered rewards while enhancing the gaming experience for users worldwide.
The partnership highlights the increasing intersection of blockchain technology and entertainment, opening new avenues for user interaction.
Source: Bitcoinist
Nano Labs Supports the Inaugural Presidential Crypto Ball
Nano Labs has announced a partnership with the Inaugural Presidential Crypto Ball, emphasizing its commitment to fostering blockchain awareness. This high-profile event aims to bridge the gap between blockchain innovators and policymakers, paving the way for broader adoption.
The initiative underscores the importance of collaboration between the blockchain community and governmental bodies to shape the future of digital assets.
Source: PR Newswire
Bybit Card Partners With EnTravel for Luxury Travel Perks
Bybit has teamed up with EnTravel to offer its cardholders exclusive discounts on luxury travel experiences. This partnership integrates blockchain-powered payment solutions with high-end travel services, providing users with unparalleled convenience and value.
The move exemplifies how blockchain technology can enhance traditional industries, offering innovative solutions tailored to modern consumer needs.
Source: PR Newswire
Key Insights and Industry Trends
- Decentralized Identity: Sony’s blockchain-based solution addresses growing concerns over online security and privacy.
- Economic Innovations: TRON’s revenue surge highlights the profitability of scalable blockchain networks.
- Gaming and Blockchain: Partnerships like MIGMIG and XT.com showcase the potential of blockchain in entertainment.
- Policy and Collaboration: Nano Labs’ involvement in the Crypto Ball underscores the importance of industry-government dialogue.
- Luxury Integration: Bybit and EnTravel demonstrate blockchain’s ability to enhance traditional services.
The post Blocks & Headlines: Today in Blockchain ( appeared first on News, Events, Advertising Options.
While Others Decline, the UNBrokerage is Again Named to Entrepreneur’s Prestigious Franchise 500(R) List For its Explosive Growth and Viability
LAGUNA NIGUEL, Calif., Jan. 14, 2025 /PRNewswire/ — Realty ONE Group, a modern, purpose-driven lifestyle brand and ONE of the fastest-growing franchisors in the world, is the No. 1 real estate brand for the fourth year in a row on Entrepreneur’s highly-competitive 2025 Franchise 500® list, just as the global franchisor celebrates its 20th anniversary this year.
This is the ninth year that Realty ONE Group has made the list, continuing to climb the rankings every year, with its closest real estate competitor now nearly 20 positions behind.
“Claiming the No. ONE spot on this widely-esteemed list, for the fourth consecutive year, further fuels the momentum we’re bringing into 2025 and our 20th anniversary,” said Kuba Jewgieniew, CEO and Founder of Realty ONE Group. “And every year, as a result of testimonials like this and from our own raving fans around the world, real estate professionals and entrepreneurs come to us looking to share in the success and be a part of something special and UNique in this industry.”
Entrepreneur named Realty ONE Group International to the list for its network growth, financial strength, and brand power and said in a press release that… “The Franchise 500 is more than a list. It’s really a collection of life-changing opportunities, featuring strong and resilient brands that future franchisees will be proud to be a part of.”
The lifestyle brand continues to evolve all aspects of its full-service offerings, including its proprietary technology zONE, business coaching platforms, ONE University and all aspects of its 6C’s. The UNBrokerage as it is known in the industry has more than 20,000 real estate professionals in more than 450 offices in 49 states, Washington D.C., and 24 more countries, recently expanding into Bonaire and Curacao.
Learn more at www.OwnAOne.com.
About Realty ONE Group International
Realty ONE Group International is one of the fastest growing, modern, purpose-driven lifestyle brands in real estate whose ONE Purpose is to open doors across the globe – ONE home, ONE dream, ONE life at a time. The organization has rapidly grown to more than 20,000 real estate professionals in over 450 locations across 24 countries and territories because of its proven business model, full-service brokerages, dynamic COOLTURE, superior business coaching through ONE University, outstanding support and its proprietary technology, zONE. Realty ONE Group International has been named the number ONE real estate brand by Entrepreneur Magazine for three consecutive years and continues to surge ahead, opening doors, not only for its clients but for real estate professionals and franchise owners. To learn more, visit www.RealtyONEGroup.com.
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Fintech
Fintech Pulse: Your Daily Industry Brief (Float Financial, Alza Fintech, Thrive Capital, Stripe, Unzer, Agora Data)
Welcome to Fintech Pulse, your comprehensive daily update on the latest in financial technology. Today’s edition dives into funding rounds, leadership changes, and the evolving landscape of decentralized finance (DeFi) and fintech innovation.
Float Financial Secures $48.5 Million Series B Funding
Float Financial, a fintech startup positioned as the “Brex of Canada,” has successfully raised $48.5 million in a Series B funding round. The company aims to revolutionize financial services for small and medium-sized businesses (SMBs) across Canada, providing corporate cards and spend management solutions.
The funding will be used to expand its product offerings, invest in technology, and scale operations. With a growing demand for SMB-centric financial tools, Float is poised to challenge traditional banking systems and redefine how Canadian businesses manage their finances.
Source: TechCrunch
Alza Fintech Shuts Down Amid Industry Challenges
Alza Fintech, a promising startup backed by Thrive Capital and Stripe, has announced its closure. Known for its focus on financial inclusion for Latino communities, the company cited difficulties in scaling its operations and meeting market expectations.
This development reflects the broader challenges faced by niche fintech players in a competitive landscape. It also underscores the importance of sustainable growth strategies and robust operational frameworks in the fintech sector.
Source: Fortune
The Next Phase of DeFi: Fintechs and Exchanges Take the Lead
The decentralized finance (DeFi) space is entering a new phase, with fintech companies and exchanges taking a more active role in its evolution. Industry leaders are integrating DeFi functionalities into their platforms, making decentralized financial tools more accessible to mainstream users.
This trend highlights a shift towards a hybrid model, combining traditional financial services with decentralized technologies. Experts believe this approach could bridge the gap between conventional finance and the blockchain ecosystem, driving broader adoption of DeFi solutions.
Source: Fortune Crypto
Leadership Update: Goetz Moeller Joins Unzer as CFO
German paytech Unzer has appointed Goetz Moeller as its new Chief Financial Officer (CFO). Moeller brings extensive experience in financial management and strategic planning, having held leadership roles in prominent European financial institutions.
Unzer’s decision to strengthen its leadership team comes as the company focuses on expanding its presence in the European payments market. Moeller’s expertise is expected to drive financial discipline and support Unzer’s ambitious growth plans.
Source: Fintech Futures
Agora Data Welcomes Jeremy Beck as VP of Sales Strategy
Agora Data has named Jeremy Beck as its Vice President of Sales Strategy. With a rich background in the auto industry, Beck is set to lead Agora’s efforts to enhance its data-driven financial solutions for auto dealerships.
This strategic hire aligns with Agora’s vision to leverage big data and AI to transform auto financing. Beck’s industry expertise will play a crucial role in strengthening client relationships and driving innovation in the auto finance sector.
Source: PR Newswire
Industry Trends and Analysis
The fintech sector continues to witness rapid advancements and dynamic shifts. Key trends to watch include:
- DeFi Mainstreaming: Increased integration of decentralized finance tools into traditional platforms.
- Leadership Transitions: Strategic hires to navigate growth and market complexities.
- Niche Challenges: Survival strategies for fintechs targeting specific demographics.
- Tech-Driven Solutions: Growing emphasis on AI and big data in financial services.
- Market Expansion: Scaling operations to address regional and global opportunities.
The post Fintech Pulse: Your Daily Industry Brief (Float Financial, Alza Fintech, Thrive Capital, Stripe, Unzer, Agora Data) appeared first on News, Events, Advertising Options.
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