Cities in the United Arab Emirates

Masdar joint venture reaches financial close and starts construction on Indonesia's first utility-scale floating solar power plant

Retrieved on: 
Tuesday, August 3, 2021
Mitsui, Sumitomo Group, Sumitomo Mitsui Banking Corporation, Sumitomo Mitsui Financial Group, Masdar, Companies, Banks, Cities in the United Arab Emirates

Financing for the project, Indonesia's first floating solar power plant, was arranged through Sumitomo Mitsui Banking Corporation, Societe Generale, and Standard Chartered Bank.

Key Points: 
  • Financing for the project, Indonesia's first floating solar power plant, was arranged through Sumitomo Mitsui Banking Corporation, Societe Generale, and Standard Chartered Bank.
  • Pembangkitan Jawa Bali Masdar Solar Energi (PMSE), a joint venture between Masdar and PT PJBI, and is expected to begin commercial operation in the fourth quarter of 2022.
  • "The Ministry of Investment fully supports the investment realization of the Cirata Floating Solar Project by PT.
  • "This floating power project is a first for Indonesia, and is also a significant step in PJBI's renewable energy journey," said Amir Faisal, President Director of PJBI.

Masdar joint venture reaches financial close and starts construction on Indonesia's first utility-scale floating solar power plant

Retrieved on: 
Tuesday, August 3, 2021
Masdar, Cities in the United Arab Emirates, Sustainable development, Urban planning

ABU DHABI, UAE, Aug. 3, 2021 /PRNewswire/ -- Masdar, one of the world's leading renewable energy companies, and PT PJBI, a subsidiary of Indonesia's state-owned electricity company PT PLN, announced today that financial close has been achieved on the Cirata Floating Photovoltaic Power Plant project and construction work has begun.

Key Points: 
  • Pembangkitan Jawa Bali Masdar Solar Energi joint venture between Masdar and PT PJBI
    ABU DHABI, UAE, Aug. 3, 2021 /PRNewswire/ --Masdar, one of the world's leading renewable energy companies, and PT PJBI, a subsidiary of Indonesia's state-owned electricity company PT PLN, announced today that financial close has been achieved on the Cirata Floating Photovoltaic Power Plant project and construction work has begun.
  • Financing for the project, Indonesia's first floating solar power plant, was arranged through Sumitomo Mitsui Banking Corporation, Societe Generale, and Standard Chartered Bank.
  • Pembangkitan Jawa Bali Masdar Solar Energi (PMSE), a joint venture between Masdar and PT PJBI, and is expected to begin commercial operation in the fourth quarter of 2022.
  • "The Ministry of Investment fully supports the investment realization of the Cirata Floating Solar Project by PT.

Masdar celebrates groundbreaking on Uzbekistan's first wind farm and agrees to extend project capacity

Retrieved on: 
Friday, April 2, 2021
Masdar, Cities in the United Arab Emirates, Economy of Asia, Energy

Saeed Matar Al-Qemzi, UAE Ambassador to Uzbekistan, during an event in Tashkent to celebrate the groundbreaking on the project, with H.E.

Key Points: 
  • Saeed Matar Al-Qemzi, UAE Ambassador to Uzbekistan, during an event in Tashkent to celebrate the groundbreaking on the project, with H.E.
  • Sherzod Khodjaev, Deputy Minister of Energy, signed the project capacity extension agreement with Mohamed Jameel Al Ramahi, Chief Executive Officer of Masdar.
  • Masdar entered into bilateral agreements with the Government of Uzbekistan last year to develop, build and operate the 500-megawatt (MW) wind farm project, its second utility-scale clean energy project in the country, and the largest wind farm in Central Asia.
  • Last December, Masdar announced financial close on the 100 MW Nur Navoi Solar Project Uzbekistan's first successfully-financed independent power producer (IPP) solar project.

Masdar enters strategic agreement with Emirates NBD Asset Management to provide services for UAE's first 'green' REIT

Retrieved on: 
Wednesday, January 20, 2021
Real estate investment trust, Masdar, Emirates NBD, Cities in the United Arab Emirates, Companies, Economy of Asia

Together, Masdar Capital Management (a recently established FSRA Regulated Fund Manager) and Emirates NBD Asset Management bring significant experience and expertise in sustainable real estate and property asset management to the partnership.

Key Points: 
  • Together, Masdar Capital Management (a recently established FSRA Regulated Fund Manager) and Emirates NBD Asset Management bring significant experience and expertise in sustainable real estate and property asset management to the partnership.
  • Masdar also confirmed that the REIT has now received approval from ADGM's Financial Services Regulatory Authority to begin operations.
  • The Masdar Green REIT gives investors that option by investing in sustainable income-generating real estate assets, with a primary focus in Masdar City.
  • Emirates NBD Asset Management, with its long history of institutional real estate asset management in the UAE provides investors with comfort that the Masdar Green REIT will be professionally resourced and operated to international best-practices."

Masdar enters strategic agreement with Emirates NBD Asset Management to provide services for UAE's first 'green' REIT

Retrieved on: 
Wednesday, January 20, 2021
Real estate investment trust, Masdar, Emirates NBD, Cities in the United Arab Emirates, Companies, Economy of Asia

Together, Masdar Capital Management (a recently established FSRA Regulated Fund Manager) and Emirates NBD Asset Management bring significant experience and expertise in sustainable real estate and property asset management to the partnership.

Key Points: 
  • Together, Masdar Capital Management (a recently established FSRA Regulated Fund Manager) and Emirates NBD Asset Management bring significant experience and expertise in sustainable real estate and property asset management to the partnership.
  • Masdar also confirmed that the REIT has now received approval from ADGM's Financial Services Regulatory Authority to begin operations.
  • The Masdar Green REIT gives investors that option by investing in sustainable income-generating real estate assets, with a primary focus in Masdar City.
  • Emirates NBD Asset Management, with its long history of institutional real estate asset management in the UAE provides investors with comfort that the Masdar Green REIT will be professionally resourced and operated to international best-practices."

Masdar and PT PJBI form joint venture to drive development of Indonesia's first floating solar power plant

Retrieved on: 
Thursday, December 17, 2020
Masdar, Cirata Dam, Dams, Economy of Asia, Cities in the United Arab Emirates

Pembangkitan Jawa Bali Masdar Solar Energi (PMSE), was formally announced at a ceremony at the Cirata reservoir in West Java, where the project will be located.

Key Points: 
  • Pembangkitan Jawa Bali Masdar Solar Energi (PMSE), was formally announced at a ceremony at the Cirata reservoir in West Java, where the project will be located.
  • The Cirata project marks the UAE's first investment in Indonesia's renewable energy sector, and will contribute to the nation's sustainable development."
  • "The creation of this joint venture company, PMSE, will enable us to continue the exceptional progress we have made on the Cirata Floating Photovoltaic Power Plant with our development partner PT PJBI," said Mohamed Jameel Al Ramahi, CEO of Masdar.
  • Through our joint venture company PJBI with Masdar, we commit to contribute to the development of new renewable energy power plants.

Rio de Janeiro Hands Over World Chambers Congress Hosting Duties to Dubai

Retrieved on: 
Sunday, June 16, 2019
Transport in Dubai, Dubai, Persian Gulf, E 11 road, Arabian Peninsula, Emirates of the United Arab Emirates, Cities in the United Arab Emirates

DUBAI, UAE, June 16, 2019 /PRNewswire/ -- Dubai was in the spotlight at the 11th World Chambers Congress (WCC) in Rio de Janeiro, the world's largest gathering of chambers of commerce, as the Brazilian city officially handed over the baton to the emirate as the host city of the next WCC in 2021.

Key Points: 
  • DUBAI, UAE, June 16, 2019 /PRNewswire/ -- Dubai was in the spotlight at the 11th World Chambers Congress (WCC) in Rio de Janeiro, the world's largest gathering of chambers of commerce, as the Brazilian city officially handed over the baton to the emirate as the host city of the next WCC in 2021.
  • Buamim said the World Chambers Congress 2021 in Dubai will put the spotlight on a city that is truly embracing the future and using innovative technologies to enhance business and trade.
  • The 12th World Chambers Congress in Dubai will take a closer look at how chambers of commerce are embracing the Fourth Industrial Revolution, adapting to advanced technologies and adjusting their value proposition to their members," said H.E.
  • More than 5,000 delegates visited Dubai Chamber's stand at WCC 2019 in Rio de Janeiro, Brazil, where they had a unique opportunity to learn more about Dubai's economy, business environment, competitive advantages and the key features of the next Congress.