Fotowatio Renewable Ventures (FRV), part of Abdul Latif Jameel Energy, has been awarded a 540 GWh hybrid solar-wind project in Chile that will see it power nearly a quarter of a million homes with clean energy.
Coinciding with the World Future Energy Summit (WFES) taking place in Abu Dhabi, this is Abdul Latif Jameel Energy’s first hybrid solar-wind project and will see a combination of photovoltaic and wind energy technologies deliver clean energy.
The project is located between the central and northern part of Chile, and will generate enough energy to power around 223,973 households and reduce greenhouse gas emissions by approximately 221,400 tons of CO2 per year once operational.
Mohammed Abdul Latif Jameel, chairman and chief executive officer of Abdul Latif Jameel, said: “Powering nearly a quarter of a million homes with clean energy for 24 hours a day, 365 days a year, shows why renewable energy is becoming more and more attractive.
“Saudi Arabia has already identified wind power as an important future energy source, as shown by the Domat Al-Jandal project in Al-Jouf province, and made it a central pillar of the National Renewable Energy Program.
“Wind power is a natural step in our growing portfolio in the renewable energy sector, and we are looking at the potential of more locations for wind energy projects.”
Omar Al-Madhi, CEO of Abdul Latif Jameel Energy, Saudi Arabia, said: “This further builds on Abdul Latif Jameel Energy’s renewable energy and environmental services portfolio.
“This hybrid solar-wind project combines photovoltaic and wind energy technologies that will deliver round-the-clock clean energy for homes in Chile, and is part of our strategy to focus on renewable energies such as solar, wind, waste-to-energy, and hydro power alongside integrated environmental services.”
Abdul Latif Jameel has announced it will power more than 120,000 homes in Jordan, agreed the sale of one of the largest photovoltaic projects in Latin America, secured a deal for Lilyvale Solar Farm that will power 45,000 homes in Australia, and launched Almar Water Solutions.
Abdul Latif Jameel Energy to power homes in Chile with hybrid solarwind project
Abdul Latif Jameel Energy to power homes in Chile with hybrid solarwind project
Umm Al-Qura for Development & Construction signs MoU with Indonesia’s Danantara Investment Management
Umm Al-Qura for Development and Construction Company, the owner, developer, and operator of Masar Destination, signed a strategic MoU with Indonesia’s Danantara Investment Management to enhance mutual cooperation and explore high-quality investment opportunities in Makkah, reinforcing its development vision and keeping pace with global investment trends.
The MoU was signed by Danantara CIO Pandu Patria Sjahrir and Umm Al-Qura CIO Tariq Sharaf, in the presence of Indonesian Minister of Investment Rosan Roeslani, who attended the event in his capacity as the CEO of Danantara, as well as Umm Al-Qura CEO Yasser Abuateek and several executive leaders from both sides.
The MoU supports the exploration of mutual investment and cooperation opportunities between the two parties.
DIM is Indonesia’s second sovereign wealth fund and a leading investment firm, focusing on developing and managing investments in vital and promising sectors in Asian markets. It possesses extensive experience in institutional investment, project finance, and exploring opportunities related to infrastructure, services, and experience development. Furthermore, it forges strategic international partnerships to support the growth of target markets and enables investors to access long-term opportunities.
As the investment arm of Danantara Indonesia (BPI Danantara), an independent strategic investment management institution operating under the president of Indonesia, DIM plays a key role within the institution’s investment mandate. Danantara Indonesia is mandated to manage and optimize government investments and assets in support of national strategic plans and government programs aimed at accelerating industrialization and economic growth.
Within this institutional framework, DIM is responsible for originating, structuring, and managing long-term strategic investments under a dual mandate: supporting national development objectives while maintaining commercial discipline and long-term value creation.
The signing reflects Umm Al-Qura’s commitment to strengthening partnerships and attracting quality investments. This will lead to the development of the destination, enhance its competitiveness, and empower investors to participate in the future of one of the most important urban projects in the heart of Makkah.
