ACWA Power secures investment from Silk Road Fund

From left, Cao Min, Mohammad Abu Nayyan, Sheikh Mohammed bin Rashid Al-Maktoum, and Saeed Mohammed Al-Tayer.
Updated 24 July 2018

ACWA Power secures investment from Silk Road Fund

ACWA Power, a leading developer, owner, and operator of power generation and water desalination plants, has announced that China’s Silk Road Fund will acquire a 24.01 percent equity interest in the 700MW DEWA Concentrated Solar Power (CSP) project in the UAE.
In the presence of Chinese President Xi Jinping, Vice President and Prime Minister of the UAE, Sheikh Mohammed bin Rashid Al-Maktoum, and the crown prince of Abu Dhabi, Sheikh Mohammed bin Zayed Al-Nahyan, Saeed Mohammed Al-Tayer, MD and CEO of Dubai Electricity and Water Authority (DEWA), and Yanzhi Wang, president of the Silk Road Fund, exchanged the executed investment agreements concerning the DEWA Concentrated Solar Power Project (DEWA CSP Project), which will be jointly invested and developed by DEWA, the Silk Road Fund, and ACWA Power.
The DEWA CSP project, which was awarded to an ACWA Power led consortium in 2017, is the 4th phase of the Mohamed bin Rashid Solar Park, the largest single-site concentrated solar power plant in the world.
The project uses a state-of-the-art combination of a central tower and parabolic trough technologies to collect energy from the sun, store it in molten salt and produce steam as required to generate electricity during the day and throughout the night.
The project is projected to deliver electricity at a levelized tariff of $7.30 cents per kilowatt-hour 24 hours a day; a cost level that competes with fossil fuel generated electricity without subsidy for reliable and dispatchable solar energy around the clock.


Sayidaty launches ‘Bahjetna Emaratya’ campaign for UAE National Day

Updated 08 November 2020

Sayidaty launches ‘Bahjetna Emaratya’ campaign for UAE National Day

DUBAI: Sayidaty magazine has launched a campaign and competition to celebrate the 49th UAE National Day, observed each year on Dec. 2.
The “Bahjetna Emaratya” campaign, launched by the Arab women’s magazine, a sister publication of Arab News, will follow the stories of Emirati and Saudi women, who are “united by close borders, and the common history in customs and traditions, including family meetings, social events such as weddings, and the celebration of holidays with all its rituals and customs, in addition to costumes and popular dishes.”
The campaign aims to start a conversation on both sides, spotlighting the origins of these mutual traditions and embracing their differences. It will also shed light on some of the popular folktales from the region.
Participants belong to various groups and communities from the UAE and abroad, and a number of artists, writers, public figures, and businessmen and women, will join the conversation.
Both male and female readers can enter the competition with any form of creative expression, such as photography, videography, poetry, painting, music, and so on. Participants can also write a story about a historic piece of art or an essay on the points of similarity between the two countries in terms of their customs and traditions.
Sayidaty will publish all entries on its website and social media, while the best contributions will receive certificates of appreciation. All contributions will be subject to evaluation by a judging panel, comprising experts from various creative fields.
Distinguished achievers will get an opportunity to join the “Friends of Sayidaty Magazine” team and publish their creations during 2021.
Individuals who wish to participate in the campaign should send their submissions to: [email protected]