Greetings,Our team at Hawk Energy is  striving hard to present you the most up to date energy news and event , NewBase  10 November 2023  Energy News issue - 1672 by Khaled Al Awadi.docx,  please see attached file For Further Detials . Regards. Founder & Chief Editor " NewBase Energy " KhaledM Al Awadi, Energy Consultant MS & BS Mechanical Engineering (HON), USAGreetings,Our team at Hawk Energy is  striving hard to present you the most up to date energy news and event , NewBase  10 November 2023  Energy News issue - 1672 by Khaled Al Awadi.docx,  please see attached file For Further Detials . Regards. Founder & Chief Editor " NewBase Energy " KhaledM Al Awadi, Energy Consultant MS & BS Mechanical Engineering (HON), USAGreetings,Our team at Hawk Energy is  striving hard to present you the most up to date energy news and event , NewBase  10 November 2023  Energy News issue - 1672 by Khaled Al Awadi.docx,  please see attached file For Further Detials . Regards. Founder & Chief Editor " NewBase Energy " KhaledM Al Awadi, Energy Consultant MS & BS Mechanical Engineering (HON), USA

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NewBase Energy News 10 November 2023 No. 1672 Senior Editor Eng. Khaled Al Awadi
NewBase for discussion or further details on the news below you may contact us on +971504822502, Dubai, UAE
UAE’s Masdar, Acwa Power teams up with Socar to develop
500MW of clean energy projects
The National - John Benny + NewBase
Saudi Arabia's private utility Acwa Power has signed an initial agreement with UAE's Masdar, and
State Oil Company of Azerbaijan Republic (Socar) to develop 500 megawatts of renewable energy
projects in the Central Asian country.
The companies will “pool their expertise” to expedite the development of renewable energy projects
that accelerate decarbonisation and help Azerbaijan achieve its net-zero goals, Acwa Power said
in a statement on Wednesday.
“Our shared vision for a sustainable and decarbonised future transcends competition,” said Marco
Arcelli, chief executive of Acwa Power. “We are proud to collaborate in helping Azerbaijan advance
towards its net-zero goals.”
Riyadh-based Acwa Power entered the Azerbaijan market in 2019 and is developing a 240-
megawatt wind power plant in the country, with an investment value of $286 million.
ww.linkedin.com/in/khaled-al-awadi-80201019/
 The companies aim to accelerate the development of renewables in
Azerbaijan
 The projects will be located in Azerbaijan's autonomous Nakhchivan exclave
– a strip of Azeri territory nestled between Armenia, Iran and Turkey .
 The projects will be located in Azerbaijan's autonomous Nakhchivan enclave
– a strip of territory nestled between Armenia, Iran and Turkey.

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The company signed four agreements with Azerbaijan’s energy minister this year to develop large
clean-energy projects, including a 1.5-gigawatt offshore wind farm and a battery energy storage
project.
“We’re delighted to join forces with our strategic partners to further the global energy transition and
accelerate the development and deployment of renewable energy,” said Mohamed Al Ramahi, chief
executive of Masdar.
Masdar, which plans to develop 10 gigawatts of renewable energy projects in Azerbaijan, said the
latest agreement would further strengthen Baku’s net-zero ambitions.
Last month the Abu Dhabi-based clean energy company announced the inauguration of the 230-
megawatt Garadagh Solar Park in Azerbaijan, the region’s “largest” operational solar plant.
Masdar also signed agreements for solar and onshore wind projects with a total capacity of 1
gigawatt. “This partnership represents a crucial milestone in our journey toward a sustainable
energy future,” said Afgan Isayev, vice president of Socar.
“This strategic alliance underscores our dedication to harnessing the vast potential of solar and wind
energy, furthering our efforts to reduce carbon emissions,” he said. Azerbaijan aims to generate 30
per cent of its total power capacity from clean energy sources by 2030.
Acwa Power, which is backed by the Public Investment Fund, has operations in 12 countries across
the Middle East, Africa, Central Asia and South-east Asia.
Its portfolio includes 77 projects in operation, advanced
development or construction – with an investment value
of $82.8 billion – and the capacity to generate 53.69
gigawatts of power and manage 7.6 million cubic metres
of desalinated water a day.
The utility is planning to develop clean energy projects in
China, the world's largest renewable energy market, with
a special focus on green hydrogen and desalination,
Raad Al Saady, Acwa Power’s vice chairman and
managing director, told The National last month.

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Saudi SPPC in power purchase deal for 400MW Tabarjal project
Trade Arabia + Newase
The Saudi Power Procurement Company (SPPC) has announced the successful signing of a Power
Purchase Agreement (PPA) for the 400 MW Tabarjal Solar PV project, as part of Round 4 in the
National Renewable Energy Program (NREP).
Once operational, this project will contribute to supplying power to around 75,000 residential units
annually, reported SPA. The project achieved a competitive LCOE (Levelized Cost of Electricity) of
$1.71/kWh.
The PPA for the Tabarjal Solar PV project was signed by SPPC with a consortium led by Jinko
Power (HK) Company Limited as Managing Member and Technical Member, Sun Glare Holding
and Sunlight Energy Holding as Consortium Members.
The NREP is supervised by the Ministry of Energy and is an extension of the energy ecosystem’s
efforts towards realizing Vision 2030’s objectives, achieving the optimal energy mix, and displacing
liquid fuels in the kingdom’s power sector.
Additionally, the programme utilizes vast lands to harness renewable energy resources and
increase the share of renewables in the energy mix to around 50% by 2030.

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US: Occidental and BlackRock form JV to develop STRATOS, the
world's largest Direct Air Capture Plant …. Source: Occidental
Occidental has announced that BlackRock will invest $550 million on behalf of clients in the
development of STRATOS, the world's largest Direct Air Capture (DAC) facility, in Ector County,
Texas.
Through a fund managed by its Diversified Infrastructure business, BlackRock has signed a
definitive agreement to form a joint venture with Occidental through its subsidiary 1PointFive that
will own STRATOS.
STRATOS is designed to capture up to 500,000 tonnes of CO2 per year. Construction activities for
STRATOS are approximately 30 percent complete and the facility is expected to be commercially
operational in mid-2025. The project is expected to employ more than 1,000 people during the
construction phase and up to 75 once operational.
'We are excited to partner with BlackRock on this transformative facility that will provide a solution
to help the world reach net zero,' said Vicki Hollub, President and CEO, Occidental. 'This joint
venture demonstrates that Direct Air Capture is becoming an investable technology and
BlackRock’s commitment in STRATOS underscores its importance and potential for the world.
We believe that BlackRock’s expertise across global markets and industries makes them the ideal
partner to help further industrial-scale Direct Air Capture.'
'BlackRock is proud to partner with global energy leader Occidental to help build the world’s largest
direct air carbon capture facility in Texas,' said Larry Fink, Chairman and CEO,
STRATOS designed to capture 500,000 tonnes of CO2 per year
BlackRock $550 million investment to advance construction underway in Texas

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BlackRock. 'Occidental’s technical expertise brings unprecedented scale to this cutting-edge
decarbonization technology.
STRATOS represents an incredible investment opportunity for BlackRock’s clients to invest in this
unique energy infrastructure project and underscores the critical role of American energy companies
in climate technology innovation.'
DAC is a technology that captures and removes large volumes of CO2 directly from the atmosphere,
which can be safely and securely stored deep underground in geologic formations. STRATOS is
expected to provide cost-effective solutions that companies in hard-to-decarbonize industries can
use in conjunction with their own emissions reduction programs.
To date, 1PointFive has signed CO2 removal credit purchase agreements with customers, including
Amazon, Airbus, All Nippon Airways (ANA), TD Bank Group, the Houston Astros, and the Houston
Texans.

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NewBase November 10 -2023 Khaled Al Awadi
NewBase for discussion or further details on the news below you may contact us on +971504822502, Dubai, UAE
Oil set for third weekly decline as Middle East conflict concerns ebb
Reuters + NewBase
Oil prices were up slightly on Friday but are set to fall for a third week as concerns of supply
disruptions from the Israel-Hamas conflict have ebbed allowing demand worries to reassert
themselves.
Brent crude futures for January were up 41 cents, or 0.5%, at $80.42 a barrel at 0550 GMT, while
the U.S. West Texas Intermediate (WTI) crude futures for December were at $76.06, up 32 cents,
or 0.4%.
Brent futures are down 5.7% this week while WTI has declined 5.9% since last week. The three
weeks of declines are the longest weekly losing streak for both contracts since a four-week drop
from mid-April to early May.
"The threat of disruptions to supplies from the Middle East continues to fall," ANZ Research said in
a note on Friday. "The conflict remains well contained within Gaza, despite concerns it would
escalate as neighbouring Arab nations show their displeasure."
Oil price special
coverage

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The White House said on Thursday that Israel had agreed to pause military operations in parts of
north Gaza for four hours a day, though there was no sign of a complete let-up.
The sense supply disruptions from the Israel-Hamas conflict are easing is occurring as concerns
around demand, especially from China, the world's largest oil importer, are rising.
Weak Chinese economic data this week increased worries of faltering demand. Additionally, refiners
in China, the largest buyer of crude oil from the world's largest exporter Saudi Arabia, asked for less
supply from Saudi Arabia for December.
However, analysts at Citi said in a note on Thursday it expected the downward pressure to ease
and prices to recover after falling to their lowest since July earlier this week.
"We expect prices to consolidate, and we maintain our near-term price forecasts with support
expected to come from refinery maintenance easing and a shift in the risk-reward for investors
following the recent sell-off," Citi said.
"Indeed upside risks abound from current levels, the potential for (the Organization of the Petroleum
Exporting Countries and allies) to look to act to defend prices, while supply risks in the Middle East
remain elevated.

8. Copyright © 2023 NewBase www.hawkenergy.net Edited by Khaled Al Awadi – Energy Consultant All rights reserved. No part of this publication may be reproduced, redistributed,
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NewBase Specual Coverage
The Energy world –November 10 -2023
CLEAN ENERGY
Africa will overtake Europe in geothermal capacity by 2030,
$35 billion investments by 2050 –
Rystad Energy
Africa’s geothermal sector will attract at least $35 billion in investments by 2050, showing the critical
role geothermal is set to play in meeting the continent’s rapidly growing energy demand. Rystad
Energy’s latest projections reveal this significant investment will see Africa’s installed geothermal
capacity surpass Europe by the end of the decade.
Despite being home to only about 1 gigawatt (GW) of geothermal capacity in 2023 – half of Europe’s
total – Africa's total installed capacity will more than double by 2030, based solely on already
announced projects. If we also consider yet-to-be-announced projects needed to meet government
targets, capacity could triple by 2030.
By 2050, we expect geothermal power generation capacity in Africa to expand to 13 GW, more than
double the expected 5.5 GW of installed capacity in Europe. Kenya and Ethiopia will lead the growth
of Africa’s geothermal sector, accounting for close to 90% of total capacity.
Daniel Holmedal, senior supply chain analyst, Rystad Energy, said: 'The geothermal industry in
Africa is picking up steam and could help meet soaring demand across the continent in the decades
to come.
Analyzing already announced projects signals significant growth on the horizon, but developments
that we project to come online given economics and demand really highlight the rapid build out. This
growth will take the continent from being the sixth largest geothermal power generator in 2023 to
the third largest in 2030.'

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Geothermal power has contributed to Africa's energy sector since the 1950s. The Democratic
Republic of Congo was the third country in the world to build a geothermal power plant, with the
commissioning of the Kiabukwa power plant in 1952.
Today, international players are increasingly looking to the East African Rift for growth opportunities
as geothermal energy provides a stable energy source that complements intermittent sources like
wind and solar. Rystad Energy forecasts that investments in Africa’s geothermal sector will reach
at least $35 billion from 2024 to 2050, driven by rapidly growing energy demand in East Africa.
International expertise and technical assistance have helped contribute to the growth of East
Africa’s geothermal sector, in turn fostering the development of domestic expertise. Kenyan
companies such as the Geothermal Development Company (GDC) and Kenya Electricity
Generating Company (KenGen) are playing key roles in helping neighboring countries establish
their geothermal industry.
Kenya and Ethiopia will lead the growth of Africa’s geothermal sector, accounting for close to 90%
of total capacity. This is due to their rich geothermal resources and the need to diversify Ethiopia’s
power mix.
The power supply in the two countries is expected to increase six-fold from 2023 to 2050, rising
from 34 terawatt-hours (TWh) to 222 TWh. Rystad Energy projects that geothermal supply from the
pair will rise well above 10 GW by 2050, potentially reaching as high as 12 GW.

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Many African countries with geothermal potential rely heavily on hydropower for their electricity
supply. Ethiopia, for instance, currently sources 88% of its electricity from hydro. However, this
dependency places these countries at risk to external weather conditions such as droughts.
By incorporating more geothermal energy into their power mix, African nations can help reduce their
dependency on hydropower and mitigate these risks. While Kenya has limited potential for large-
scale hydropower projects, estimated at around 1-1.5 GW, Ethiopia has significant potential for
hydropower generation. Its controversial Grand Renaissance Dam on the Nile, for example, has a
capacity of more than 5 GW.

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To achieve a 13 GW geothermal capacity in Africa by 2050, Rystad Energy's base case scenario
relies heavily on the development of geothermal resources in Kenya and Ethiopia. Kenya has
already demonstrated its commitment to incorporating geothermal energy into its power mix.
With abundant geothermal resources, strong local expertise and increasing interest from
international players, it is expected that Kenya will exceed 8 GW of geothermal capacity by 2050.
Ethiopia faces several challenges, however, and it is imperative that projects like Tulu Moye, Aluto-
Langano and Corbetti prove their worth if the country is to exceed 3.5 GW of installed geothermal
capacity by 2050.

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NewBase Energy News 10-November - Issue No. 1672 call on +971504822502, UAE
The Editor:” Khaled Al Awadi” Your partner in Energy Services
NewBase energy news is produced Twice a week and sponsored by Hawk Energy Service – Dubai, UAE.
For additional free subscriptions, please email us.
About: Khaled Malallah Al Awadi,
Energy Consultant
MS & BS Mechanical Engineering (HON), USA
Emarat member since 1990
ASME member since 1995
Hawk Energy member 2010
www.linkedin.com/in/khaled-al-awadi-38b995b
Mobile: +971504822502
khdmohd@hawkenergy.net or khdmohd@hotmail.com
Khaled Al Awadi is a UAE National with over 30 years of experience in the Oil & Gas
sector. Has Mechanical Engineering BSc. & MSc. Degrees from leading U.S.
Universities. Currently working as self leading external Energy consultant for the
GCC area via many leading Energy Services companies. Khaled is the Founder of
the NewBase Energy news articles issues, Khaled is an international consultant,
advisor, ecopreneur and journalist with expertise in Gas & Oil pipeline Networks,
waste management, waste-to-energy, renewable energy, environment protection
and sustainable development. His geographical areas of focus include Middle East,
Africa and Asia. Khaled has successfully accomplished a wide range of projects in
the areas of Gas & Oil with extensive works on Gas Pipeline Network Facilities & gas
compressor stations. Executed projects in the designing & constructing of gas pipelines, gas metering &
regulating stations and in the engineering of gas/oil supply routes.
Has drafted & finalized many contracts/agreements in products sale, transportation, operation &
maintenance agreements. Along with many MOUs & JVs for organizations & governments authorities.
Currently dealing for biomass energy, biogas, waste-to-energy, recycling and waste management. He has
participated in numerous conferences and workshops as chairman, session chair, keynote speaker and
panelist.
Khaled is the Editor-in-Chief of NewBase Energy News and is a professional environmental writer with over
1400 popular articles to his credit. He is proactively engaged in creating mass awareness on renewable
energy, waste management, plant Automation IA and environmental sustainability in different parts of the
world. Khaled has become a reference for many of the Oil & Gas Conferences and for many Energy program
broadcasted internationally, via GCC leading satellite Channels. Khaled can be reached at any time, see
contact details above.

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