| | NOVEMBER 20238IN FOCUSBerde Renewables, an I Squared Capital distributed energy platform, said that it has inked a power purchase agreement with Holcim Philippines, a Holcim Group member, for solar rooftop projects on two of its plants. Berde Renewables will construct, manage, and maintain rooftop solar systems with a total capacity of 5.5 MWp at Holcim's operations in Bulacan and La Union.The rooftop solar facilities are expected to be commissioned in 2024 and projected to reduce greenhouse gas emissions by approximately 5,500 tCo2e per year. The project will accelerate Holcim's journey to reduce Scope 2 emissions by 65 percent by 2030, as per business wire.Patrick Zhu, CEO of Berde Renewables, said: "Berde Renewables is proud to partner with Holcim to deliver clean energy to their plants and support their decarbonization goals. We will combine our end-to-end in-house capabilities, from project development and construction to operations, with I Squared's global experience investing in close to 5.8 gigawatts of renewable energy assets, to deliver green energy for corporates in the Philippines. The project is the first rooftop solar project for the cement industry in the Philippines and underscores Berde Renewables' capabilities to support commercial and industrial consumers in their transition to clean energy".Holcim Philippines President and CEO Horia Adrian: "We have reached significant decarbonization milestones, reducing our carbon footprint by more than 20 percent since 2018, with our focus on blended cements, alternative fuels and raw materials, and operational efficiency. This project further strengthens our ability to support the Holcim Group's Net Zero direction and the country's Nationally Determined Contributions as well as help the country build greener. We thank Berde Renewables for this partnership and look forward to reaching new heights in decarbonizing building with their support". Acwa Power, a private utility developer in Saudi Arabia, has inked agreements totaling $746 million for the construction of sustainable energy projects. The agreements include a $500 million first agreement with EIG, an energy-focused institutional investor, to collaborate in areas such as power production, water desalination, and green hydrogen, with a focus on projects in the Gulf region and Uzbekistan.Acwa Power also signed funding agreements worth $246 million with the European Bank for Reconstruction and Development and the Opec Fund for International Development for the development of a 240-megawatt wind power project in Azerbaijan. The agreements, which were signed at the Future Investment Initiative in Riyadh, are subject to the completion of certain conditions, as per thenationalnews.The company stated that the Khizi-Absheron project is Azerbaijan's first foreign investment-based independent wind power facility, with a total investment of $347 million. The project's main offtaker is the national electrical power utility Azerenerji, which is planned to power almost 300,000 households once finished.EIG's "commitment to working with Acwa Power is a sign of confidence in the company's strong position in power, water, and green hydrogen, and we look forward to collaborating in these areas", Marco Arcelli, chief executive of Acwa Power, said.Acwa Power is a Public Investment Fund-backed company that works in 12 countries spanning the Middle East, Africa, Central Asia, and South-East Asia. The company's portfolio includes 77 projects in operation, advanced development, or construction, totaling $78.2 billion in investment and the ability to generate 50.4 gigatonnes of electricity and manage 6.8 million cubic meters of desalinated water per day. BERDE AGREES TO PURCHASE POWER FROM HOLCIM PHILIPPINESSAUDI BASED ACWA POWER SIGNS CLEAN ENERGY DEALS FOR $746 MILLION
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