Fintech PR

A Natural Gas Boom Is Looming For Europe

Published

10 months ago

March 7, 2024

FN Media Group Presents Oilprice.com Market Commentary

LONDON, March 7, 2024 /PRNewswire/ — Europe is weathering its second winter since it cut itself off from Russian natural gas, but beyond that, without its own sufficient supplies, the continent remains vulnerable to the whims of a volatile global market. Companies mentioned in this release include: Chevron Corporation (NYSE:CVX), ExxonMobil Corporation (NYSE:XOM), ConocoPhillips (NYSE:COP), Talos Energy Inc. (NYSE:TALO), Cheniere Energy, Inc. (NYSE:LNG).

That vulnerability is now beginning to resurface, as the Biden administration presses pause on all new LNG export projects, sending waves of concern throughout Europe, which has traded dependence on Russian gas for dependence on American LNG.

In the short term, this meant significantly higher energy prices throughout Europe, with energy costs rising by 40.8% annually within the EU as of September 2022. It got so bad, in fact, that Europe shelled out $800 billion to protect consumers from the spiralling costs.

The regulatory atmosphere has changed dramatically since Russia’s invasion of Ukraine. Germany has pleaded that the Bloc “work together with countries that have the capacity to develop new gas fields, as part of the Paris Climate Agreement commitments.”

That’s exactly what MCF Energy (MCF.V; MCFNF.QX) plans to do in Germany—the EU’s biggest economy—and Austria.

Confirmed Gas Plays in Germany and Austria

MCF Energy’s prospects in Germany include the Lech concession where Mobil (before it was Exxon) drilled a wildcat well back in the ’80s. That well came in at 24 million cubic feet of natural gas per day, with 700 barrels of condensate, with a second well drilled to a deeper zone flowing almost 200 barrels of oil per day.

Back then, Germany did not require companies to share their data at all. But last year, due to Germany’s scramble to ensure more domestic production, this data was made available to the public. MCF took the opportunity and ran the 3D data by its AI specialist, which pinpointed multiple drilling locations on both Lech and Lech East with identical or very similar character to the big discovery well drilled in the 80’s on Lech that MCF will soon re-enter.

When MCF drills its first well in Germany in March, new AI and Machine learning technology as well as the improvements in drilling could change this game.

5 Prospects Secured, Drilling Launched

As a result of MCF Energy’s (MCF.V; MCFNF.QX) 100% acquisition of Germany’s Genexco last year, the company now has five licenses secured for four large-scale project areas in Germany and one in Austria, with drilling soon to be underway.

The first drill, will spud next week and set to complete in March, is in Austria, at MCF’s Welchau prospect near the Austrian Alps. Welchau appears analogous to large anticline structures discovered in Kurdistan and the Italian Apennines, and is adjacent and up-dip from a discovery, drilled in the 80’s that intersected a gas column of at least 400 meters, testing condensate rich with pipeline quality gas. A national gas pipeline network is only 18 kilometers away, making for what could be a short, cheap tie-in option for getting products to domestic markets.

MCF will earn a 25% interest for exploration drill costs estimated at 2.55 million euros, which represents MCF’s 50% share in drilling costs. Germany, which houses four of the concessions, is where MCF Energy is playing a bigger game.

The company’s Lech (10 square kilometers) and Lech East (100 square kilometers) concessions hold natural resources riches that have already seen two discoveries and three previous wells drilled.

As soon as the Austria drill is completed in March, the rig will be moved to Lech, where MCF Energy will re-enter Mobil’s former Kinsau #1 well, adapting new drilling and completion technology and eventually horizontal wells to stimulate what they already know is there.

Within the first fault block at Lech, MCF’s Hill believes there is around 20 BCF recoverable, with associated condensate.

Furthermore, all the wells had few problems during drilling, which means lows costs for drilling, coupled with nearby pipelines—the closest only 2 kilometers away—to get to market quickly and cheaply.

“The exploration possibilities are there. You’ve got the fractured carbonates, and even sandstone reservoirs that have produced in the area. So, now, it really comes down to the fact that there are also new exploration techniques, in addition to seismic, that I think will reduce the risk,” Hill told Oilprice.com.

Also in Germany, MCF Energy now has the Reudnitz Gas field concession, a large-scale natural gas prospect initially discovered in 1964.

An independent assessment by Gaffney, Cline & Associates suggests 118.7 billion cubic feet of natural gas for extraction, noting that the resources, as with the other fields in Northern Germany contain low-caloric gas rich in nitrogen, potentially diluting the hydrocarbons’ concentration. . In addition to methane, the gas at Reudnitz contains, best estimate (P50), 1.06 BCF of helium and an upper zone containing 4.4 million barrels of oil.

The fifth concession in Germany is Erlenwiese, for which 2D seismic has been acquired and is being reprocessed, with 3D on the way, along with AI analysis. This project contains two, well documented prospects which will be risk reduced with machine learning.

What Does Europe Do Next?

And the timing is significant: Europe has underinvested in natural gas as it strives to lower carbon emissions, but natural gas is turning out to be the accepted bridge fuel for the world’s energy transition. Nowhere is this more poignant than in Europe, where energy security and climate change must work hand-in-hand.

MCF (MCF.V; MCFNF.QX) is doing something unique on the natural gas playing field: It’s aiming to gain exposure to European natural gas for the first time since Russia invaded Ukraine and Western sanctions disrupted global markets.

They will very soon be drilling in Austria, and are planning to launch drilling in Germany in March, making this one of the most exciting new plays that the supermajors have left behind since they moved to bigger venues offshore.

Don’t Ignore the Energy Giants

Chevron Corporation (NYSE:CVX), one of the world’s leading energy companies, is making significant strides in the realm of natural gas, aligning its operations with the global shift towards cleaner energy sources.

Parallel to its natural gas endeavors, Chevron continues to fortify its foundational oil operations. The company leverages vast reserves and a robust downstream presence, committing to efficient and sustainable oil production.

ExxonMobil Corporation (NYSE:XOM), a titan in the global energy market, is assertively expanding its footprint in the natural gas sector, leveraging strategic investments in LNG projects and shale gas explorations to cement its position as an industry leader.

The company’s aggressive expansion into natural gas is paired with robust oil operations, suggesting a well-rounded vision for the future. Exxon Mobil offers both steady returns and growth potential, anchored by its legacy and forward-looking strategies.

ConocoPhillips (NYSE:COP), with its extensive global footprint, exhibits a balanced approach to energy, harmonizing its oil exploration and production endeavors with strategic investments in natural gas and LNG operations, particularly in North America and Asia.

Oil exploration and production remain critical pillars of ConocoPhillips’ strategy, with operations spanning across continents. The company’s emphasis on sustainable production methods highlights its commitment to environmental stewardship and operational excellence.

Talos Energy Inc. (NYSE:TALO) distinguishes itself in the exploration and production sector, focusing on oil and natural gas in the strategically significant regions of the United States Gulf of Mexico and offshore Mexico. Talos Energy has established a reputation for strategic acquisitions and a focus on exploration, demonstrating an agile approach to its operations.

The company’s commitment to environmental stewardship and sustainability is a cornerstone of its strategy, underpinned by efforts to leverage innovative technologies to minimize its ecological footprint.

Cheniere Energy, Inc. (NYSE:LNG), pioneers the liquefied natural gas (LNG) sector in the United States, operating the country’s first LNG export facilities. With a business model that encompasses the entire LNG value chain, Cheniere is well-placed to capitalize on the increasing demand for gas.

Cheniere’s commitment to sustainability is integral to its operations, aiming to improve the environmental performance of its activities. The company’s focus on safety, environmental stewardship, and community engagement positions it as a responsible provider, setting a benchmark in the LNG market.

By. Tom Kool

**IMPORTANT! BY READING OUR CONTENT YOU EXPLICITLY AGREE TO THE FOLLOWING. PLEASE READ CAREFULLY**

Forward-Looking Statements

This publication contains forward-looking information which is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ from those projected in the forward-looking statements. Forward looking statements in this publication include that large oil and gas companies will continue to focus on offshore natural gas resources; that domestic onshore natural gas assets in Europe will provide a more affordable energy source than offshore resources; that demand for natural gas will continue to increase in Europe and Germany; that Russia will not supply the majority of natural gas in Germany and Europe; that natural gas will continue to be utilized as a main energy source in Germany and other European countries and demand for natural gas, and in particular domestic natural gas, will continue and increase in the future; that MCF Energy Ltd. (the “Company”) can replicate the previous success of its key investors and management in developing and selling valuable energy assets; that the natural gas projects of the Company will be successfully tested and developed; that the Company can develop and supply a safe, domestic source of energy to European countries; that natural gas will be reclassified as sustainable energy which will support the development of the Company’s assets; that imports of liquified natural gas will not be sustainable for Europe and that European countries will need to rely on domestic sources of natural gas; that the Company expects to obtain significant attention due to its upcoming drilling plans combined with Europe desperate for domestic natural gas supply; that the upcoming drilling on the Company’s projects will be successful; that the Company’s projects will contain commercial amounts of natural gas; that the Company can finance ongoing operations and development; that the Company can achieve its business plans and objectives as anticipated. These forward-looking statements are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. Risks that could change or prevent these statements from coming to fruition include that large oil and gas companies will start focusing on the development of domestic natural gas resources; that the natural gas resources of competitors will be more successful or obtain a greater share of market supply; that offshore liquified natural gas assets will be favored over domestic resources for various reasons; that alternative technologies will replace natural gas as a mainstream energy source in Europe and elsewhere; that demand for natural gas will not continue to increase as expected for various reasons, including climate change and emerging technologies; that political changes will result in Russia or other countries providing natural gas supplies in future; that the Company may fail to replicate the previous success of its key investors and management in developing and selling valuable energy assets; that the natural gas projects of the Company may fail to be successfully tested and developed; that the Company’s projects may not contain commercial amounts of natural gas; that the Company may be unable to develop and supply a safe, domestic source of energy to European countries; that natural gas may not be reclassified as sustainable energy or may be replaced by other energy sources; that the upcoming drilling on the Company’s projects may be unsuccessful or may be less positive than expected; that the Company’s projects may not contain commercial amounts of natural gas; that the Company may be unable to finance its ongoing operations and development; that the Company can achieve its business plans and objectives as anticipated; that the Company may be unable to finance its ongoing operations and development; that the business of the Company may be unsuccessful for various reasons. The forward-looking information contained herein is given as of the date hereof and we assume no responsibility to update or revise such information to reflect new events or circumstances, except as required by law.

DISCLAIMERS

This communication is for entertainment purposes only. Never invest purely based on our communication. We have not been compensated by MCF Energy Ltd. for this article but may in the future be compensated to conduct investor awareness advertising and marketing for MCF Energy Ltd. While the opinions expressed in this article are based on information believed to be accurate and reliable, such information in our communications and on our website has not been independently verified and is not guaranteed to be correct. The content of this article is based solely on our opinions which are based on very limited analysis and we are not professional analysts or advisors.

SHARE OWNERSHIP. The owner of Oilprice.com owns shares of MCF Energy Ltd. and therefore has an incentive to see the featured company’s stock perform well. The owner of Oilprice.com will not notify the market when it decides to buy more or sell shares of MCF Energy Ltd. in the market. The owner of Oilprice.com will be buying and selling shares of this issuer for its own profit. Accordingly, our views and opinions in this article are subject to bias, and we stress that you should conduct your own extensive due diligence regarding the Company as well as seek the advice of your professional financial advisor or a registered broker-dealer before you consider investing in any securities of the Company or otherwise.

NOT AN INVESTMENT ADVISOR. Oilprice.com is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. You should not treat any opinion expressed herein as an inducement to make a particular investment or to follow a particular strategy, but only as an expression of opinion. The opinions expressed herein do not take into account the suitability of any investment with your particular objectives or risk tolerance. Investments or strategies mentioned in this article and on our website may not be suitable for you and are not intended as recommendations.

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DISCLAIMER: OilPrice.com is Source of all content listed above. FN Media Group, LLC (FNM), is a third party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels. FNM is NOT affiliated in any manner with OilPrice.com or any company mentioned herein. The commentary, views and opinions expressed in this release by OilPrice.com are solely those of OilPrice.com and are not shared by and do not reflect in any manner the views or opinions of FNM. FNM is not liable for any investment decisions by its readers or subscribers. FNM and its affiliated companies are a news dissemination and financial marketing solutions provider and are NOT a registered broker/dealer/analyst/adviser, holds no investment licenses and may NOT sell, offer to sell or offer to buy any security. FNM was not compensated by any public company mentioned herein to disseminate this press release.

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Fintech PR

Artificial Intelligence (AI) in Trading Market to Reach USD 35 Billion by 2030, Growing at a 10% CAGR | Valuates Reports

Published

2 days ago

January 3, 2025

CISION (PR Newswire)

BANGALORE, India, Jan. 3, 2025 /PRNewswire/ — AI in Trading Market is Segmented by Type (Software, Services), by Application (Automotive, IT & Telecommunication, Transportation & Logistics, Energy & Utilities, Healthcare, Retail, Manufacturing).

The Global Artificial Intelligence in Trading Market was valued at USD 18 Billion in 2023 and is anticipated to reach USD 35 Billion by 2030, witnessing a CAGR of 10% during the forecast period 2024-2030.

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Major Factors Driving the Growth of Artificial Intelligence (AI) in Trading Market:

The Artificial Intelligence in Trading market is on a robust growth trajectory, driven by the increasing adoption of AI technologies to enhance trading performance and operational efficiency. The integration of machine learning algorithms, predictive analytics, and automated trading systems is transforming the landscape of financial trading, enabling more informed and strategic decision-making. The rising complexity and volatility of financial markets necessitate advanced AI-driven solutions that can analyze vast amounts of data, identify market trends, and execute trades with precision and speed. Additionally, the continuous advancements in AI and machine learning technologies are expanding the capabilities and applications of AI in trading, making these solutions more accessible and effective for a broader range of traders and financial institutions. The growing emphasis on data-driven trading strategies, coupled with the need for competitive advantage and risk management, propels the demand for AI-driven trading technologies. As financial markets continue to evolve and embrace digital transformation, the Artificial Intelligence in Trading market is poised to achieve significant growth, driven by innovation, investment, and the increasing reliance on technology-driven trading solutions.

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TRENDS INFLUENCING THE GROWTH OF THE GLOBAL AI IN TRADING MARKET:

Software solutions are instrumental in driving the growth of the Artificial Intelligence in Trading market by enhancing the efficiency, accuracy, and speed of trading operations. Advanced trading software incorporates machine learning algorithms, predictive analytics, and real-time data processing capabilities, enabling traders to make informed decisions based on comprehensive market insights. These software platforms facilitate automated trading strategies, allowing for the execution of trades at optimal times without human intervention, thereby reducing latency and increasing profitability. Additionally, sophisticated risk management tools integrated into trading software help in identifying and mitigating potential risks, ensuring more stable and secure trading environments. The continuous evolution of trading software, with the integration of AI-driven features such as sentiment analysis and anomaly detection, further propels market growth by offering traders innovative tools to navigate complex financial markets. The increasing reliance on technology-driven trading solutions underscores the critical role of software in expanding the Artificial Intelligence in Trading market.

Services play a pivotal role in driving the growth of the Artificial Intelligence in Trading market by providing essential support and expertise required to implement and optimize AI-driven trading strategies. These services include consulting, system integration, data management, and ongoing technical support, which are crucial for financial institutions and traders looking to leverage AI technologies effectively. Professional services help organizations navigate the complexities of AI adoption, ensuring that AI models are accurately tailored to specific trading needs and market conditions. Additionally, managed services offer continuous monitoring and maintenance of AI systems, ensuring their optimal performance and adaptability to evolving market dynamics. Training and education services further enhance the capabilities of trading teams, equipping them with the necessary skills to utilize AI tools effectively. The comprehensive range of services provided by specialized firms enables seamless integration of AI technologies into trading operations, thereby accelerating the adoption and expansion of the Artificial Intelligence in Trading market.

Financial services are a major catalyst in the growth of the Artificial Intelligence in Trading market, as they are at the forefront of adopting AI technologies to gain a competitive edge in the financial markets. Investment banks, hedge funds, asset management firms, and proprietary trading firms increasingly utilize AI-driven trading systems to enhance their trading strategies, improve decision-making processes, and optimize portfolio management. The ability of AI to analyze vast amounts of financial data, identify market trends, and execute trades at high speeds enables financial services firms to achieve higher returns and manage risks more effectively. Additionally, the integration of AI in areas such as algorithmic trading, fraud detection, and customer service enhances operational efficiency and service quality within financial institutions. The growing recognition of AI’s potential to transform trading practices and deliver superior financial performance drives the continuous investment and expansion of AI technologies in the financial services sector, thereby propelling the growth of the Artificial Intelligence in Trading market.

The increasing demand for high-speed trading is a significant factor driving the Artificial Intelligence in Trading market. In today’s fast-paced financial markets, the ability to execute trades within milliseconds can provide a substantial competitive advantage. AI-driven trading systems are designed to process large volumes of data and execute trades at speeds that far surpass human capabilities, enabling traders to capitalize on fleeting market opportunities. The rise of high-frequency trading (HFT) strategies, which rely on rapid data analysis and automated execution, underscores the need for advanced AI technologies that can deliver the required speed and precision. The growing complexity and volatility of financial markets further amplify the demand for high-speed trading solutions, as traders seek to navigate rapid price fluctuations and capitalize on minute market movements. The continuous advancement of AI technologies to enhance trading speed and efficiency drives the expansion of the Artificial Intelligence in Trading market.

The availability and integration of vast amounts of financial data are crucial drivers of the Artificial Intelligence in Trading market. The proliferation of data sources, including market feeds, news articles, social media, and economic indicators, provides a rich foundation for AI algorithms to analyze and derive actionable insights. Effective integration of diverse data sets allows AI systems to develop more accurate predictive models and trading strategies, enhancing their ability to anticipate market movements and make informed trading decisions. Additionally, the advancement of big data technologies and data processing frameworks facilitates the seamless ingestion, storage, and analysis of large-scale financial data, enabling AI-driven trading systems to operate more efficiently and effectively. The increasing emphasis on data-driven decision-making in trading practices underscores the importance of robust data integration capabilities, thereby fueling the growth of the Artificial Intelligence in Trading market.

Effective risk management and mitigation are critical factors driving the Artificial Intelligence in Trading market. AI-driven trading systems offer advanced risk assessment and management capabilities that help traders and financial institutions identify, evaluate, and mitigate potential risks in real-time. Machine learning algorithms can analyze historical and real-time data to detect abnormal trading patterns, predict market downturns, and optimize portfolio allocations to minimize exposure to adverse market conditions. Additionally, AI technologies enable the development of sophisticated hedging strategies and automated stop-loss mechanisms, enhancing the ability to manage financial risks proactively. The ability to quickly adapt to changing market dynamics and implement risk mitigation measures is essential for maintaining financial stability and achieving sustainable trading performance. As the complexity and interconnectedness of financial markets increase, the demand for robust AI-driven risk management solutions intensifies, thereby fueling the growth of the Artificial Intelligence in Trading market.

Achieving a competitive advantage is a significant driver in the growth of the Artificial Intelligence in Trading market. Financial institutions and traders seek to leverage AI technologies to gain an edge over competitors by enhancing the speed, accuracy, and efficiency of their trading operations. AI-driven trading systems enable the development of proprietary trading strategies, optimize trade execution, and improve the ability to anticipate market movements, thereby increasing profitability and market share. The ability to process and analyze vast amounts of data in real-time allows traders to make informed decisions faster than competitors relying on traditional trading methods. Additionally, AI technologies facilitate the customization of trading strategies to align with specific investment goals and risk profiles, further differentiating traders in the competitive financial landscape. The pursuit of superior performance and the need to stay ahead in the highly competitive trading environment drive the adoption and investment in AI-driven trading solutions, thereby propelling the growth of the Artificial Intelligence in Trading market.

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AI IN TRADING MARKET SHARE

China and the United States are two leaders in the AI industry. On the AI 100 list (2022) released by CB Insights, the number of companies in the United States ranks first, with more than 70 companies, followed by the United Kingdom, with 8 companies on the list. China and Canada both hold 5 companies on the list. According to data from the China Academy of Information and Communications Technology, the scale of China’s core artificial intelligence industry reached ¥508 Billion in 2022, a year-on-year increase of 18%.

The Artificial Intelligence in Trading market exhibits significant regional variations, influenced by factors such as financial market maturity, technological infrastructure, and regulatory environments. North America leads the market, driven by the presence of major financial hubs like New York and Silicon Valley, advanced technological infrastructure, and a high concentration of fintech startups specializing in AI-driven trading solutions.

Key Companies:

IBM Corporation
Trading Technologies International, Inc
GreenKey Technologies, LLC
Trade Ideas, LLC
Imperative Execution Inc
Looking Glass Investments LLC
Aitrades
Kavout
Auquan
WOA
Techtrader

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Fintech PR

Bybit x Block Scholes Report: BTC Options Steady with Call-Put Parity, ETH Braces for Short-Term Volatility

Published

2 days ago

January 3, 2025

CISION (PR Newswire)

bybit-x-block-scholes-report:-btc-options-steady-with-call-put-parity,-eth-braces-for-short-term-volatility

DUBAI, UAE, Jan. 3, 2025 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, has released its latest crypto derivatives analytics report in collaboration with Block Scholes. The report sheds light on key trends in open interest and market behavior during the significant year-end options expiration for Bitcoin (BTC) and Ethereum (ETH).

Key highlights:

Open Interest Solid Amid Year-End Options Expiration

Although open interest in BTC and ETH perpetual swaps has not returned to the early December 2024 highs, it remained stable during the critical year-end options expiration. This stability suggests that traders did not heavily rely on perpetual contracts to hedge the delta of expiring options, which contributed to the muted volatility observed during this period. Trading volumes dipped during the winter holiday season, aligning with a collapse in realized volatility, which reached its lowest levels of December.

BTC Option Curve Remains Steep During Call-Put Parity

Contrary to expectations, the expiration of December’s options did not spark a surge in volatility. Instead, realized volatility declined to the lower end of its recent range. The implied volatility term structure for BTC options remains steep, with longer-dated implied volatility hovering around 57% and 1-week at-the-money options trading approximately five points lower. Most of the expired open interest has not been reinvested, maintaining a neutral call-put balance. As a result, BTC’s options market shows limited leverage compared to its position at the beginning of December 2024, reflecting a cautious sentiment.

Huge ETH Option Expiring Doesn’t Cause Volatility

Despite the substantial expiration of ETH options in late December 2024, market dynamics remained stable. A spike in realized volatility during December failed to extend into the new year, with ETH’s spot price currently showing lower volatility compared to short-tenor implied volatility. Over the past week, the implied volatility term structure for ETH options has shifted, steepening briefly before flattening again, diverging from BTC’s consistently steep profile. This pattern suggests that ETH’s options market is bracing for potential short-term volatility in spot price movements.

Interestingly, despite the expiration, call options for ETH have gained momentum at the start of 2025, dominating the market and indicating an optimistic outlook among traders.

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Gain deeper insights and explore the potential impacts on your crypto trading strategies by downloading the full Bybit x Block Scholes Crypto Derivatives Analytics Report.

#Bybit / #TheCryptoArk / #BybitLearn / #BybitResearch / #BTC100K

About Bybit

Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving a global community of over 60 million users. Founded in 2018, Bybit is redefining openness in the decentralized world by creating a simpler, open and equal ecosystem for everyone. With a strong focus on Web3, Bybit partners strategically with leading blockchain protocols to provide robust infrastructure and drive on-chain innovation. Renowned for its secure custody, diverse marketplaces, intuitive user experience, and advanced blockchain tools, Bybit bridges the gap between TradFi and DeFi, empowering builders, creators, and enthusiasts to unlock the full potential of Web3. Discover the future of decentralized finance at Bybit.com.

For more details about Bybit, please visit Bybit Press
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Fintech PR

Year-opening Triumph: Arctech Lands a 1.5GW Solar Project Order in the UAE

Published

2 days ago

January 3, 2025

CISION (PR Newswire)

year-opening-triumph:-arctech-lands-a-1.5gw-solar-project-order-in-the-uae

ABU DHABI, UAE, Jan. 3, 2025 /PRNewswire/ — Arctech, the world’s leading solar tracking and racking solutions provider, announced that it signed a 1.5GW order of its 1P single-axis solar tracking system SkyLine II with PowerChina for a solar project in Al Ajban, UAE, marking a great start for the company in the Middle East market in 2025.

As a key initiative under “UAE Energy Strategy 2050”, which aims to provide the country with zero-emission clean energy, this 1.5GW Al Ajban Solar PV plant will become one of the largest single-site solar plants worldwide once completed.

Upon completion, this plant is projected to generate green electricity capable of fulfilling the electricity demands of approximately 160,000 households. It is expected to reduce Abu Dhabi’s annual carbon emissions by 2.4 million tons each year, thereby significantly advancing green development and facilitating energy transition in the Middle East.

Since establishing its local operations in 2017, Arctech has expanded to include a service center, an R&D center, two local offices and a manufacturing base in the Middle East. Among which, Arctech’s Jeddah Phase II manufacturing base is currently under construction and will officially enter operation in 2025. Combined with its global supply chain, this expansion will enable Arctech to achieve a local delivery capacity of 15GW.

Up to now, Arctech has established a complete full life cycle service network in the Middle East market, including technical support, supply chain delivery, after-sales service, local operation and maintenance capabilities, and brand marketing strategies. Looking ahead, Arctech is well-positioned to further contribute to UAE’s “Energy Strategy 2050” through its enhanced localization initiatives and comprehensive white-glove services.

About Arctech

Arctech (SSE-STAR:688408) is the world-leading supplier of intelligent solar trackers, fixed-tilt structures, PV cleaning robots and energy storage solutions. Empowered by over 530 patents, Arctech products have been applied in utility-scale and commercial solar PV projects since 2009. It was listed among the top 4 tracker suppliers by IHS Markit and Wood Mackenzie from 2017 to 2020. The company went public on China’s Nasdaq-style STAR market in 2020. As of June 2024, Arctech has supplied over 76 GW of tracking and racking systems to nearly 1,800 PV plants in 40 countries. For more information, please visit https://www.arctechsolar.us/. Follow us on Linkedin, Twitter, Facebook and YouTube.

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