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TotalEnergies’ First Solar Power Plant in Saudi Arabia Fully Financed

RIYADH: Sustainable energy provision in Saudi Arabia is set to grow after French energy giant TotalEnergies achieved financial closure for its first solar power plant in the Kingdom.  According to a press statement, the 119 megawatts solar plant will be developed by a consortium of TotalEnergies, Japan’s Toyota Tsusho and Saudi Arabia’s Altaaqa Renewable Energy.  The group secured a power purchase agreement for the project with Riyadh-based Saudi Power Procurement Co. in an auction held between 2021 and 2022. 
sport

Biles set to make competitive comeback in August

LOS ANGELES: Gymnastics superstar Simone Biles is poised to compete in August for the first time since mental health and safety concerns cut short her Tokyo Olympics campaign, entering the August US Classic near Chicago. USA Gymnastics announced Wednesday that the four-time Olympic gold medalist was entered in the August 4-5 event, which would be her first since she withdrew from most of her events in Tokyo in 2021. “Registration...does not guarantee participation,” USA Gymnastics warned in the statement.
Business

“Bahrain aims for 5% renewable energy in electricity generation by 2025”

RIYADH: In line with the aims of Bahrain’s National Energy Transition Plan, the state has stepped up efforts to increase the share of its renewable energy to 5 percent of its total electricity generation by 2025.  Kamal bin Ahmed Mohammed, president of the country’s Electricity and Water Authority, said the move is part of a strategy to diversify the state’s energy resources and achieve a renewable resource share of 20 percent by 2035, according to Bahrain News Agency. 
Business

Egypt boosts energy transition with updated climate commitments

RIYADH: Egypt aims to advance its target of generating 42 percent of its energy through renewable sources to 2030 from 2035 as the North African nation submitted updated climate commitments as per the Paris Agreement on Monday.   In its updated Nationally Determined Contribution document, Egypt noted that the country needs to obtain grants and soft financing worth €500 million ($548 million) as a contribution to achieving the revised targets. 
Business

“Growing Venture Capital Scene in Saudi Arabia”

CAIRO: Silicon Valley-based investor Plug and Play Tech Center, renowned for its early investments in successful firms such as Dropbox and PayPal, is seeking to raise $100 million to support Saudi startups, Bloomberg reported.  The venture capital firm is in discussions with Jada, a $1 billion fund of funds established by Saudi Arabia’s sovereign wealth fund the Public Investment Fund, to collaborate on this initiative, Saeed Amidi, Plug and Play’s founder and CEO, stated. 
sport

Reuben Neves Joins Al-Hilal at His Peak

Ruben Neves has finally landed in Riyadh to finalize his move to Saudi Pro League side Al-Hilal, and it is a move that seems to have attracted attention for one thing above all else: his age. The Portuguese international is undoubtedly a massive talent in his own right but, in terms of profile, he is not quite in the same bracket as fellow Pro League players Cristiano Ronaldo or Karim Benzema. What he does have, though, is time on his side to reach that level.
sport

2023 King Salman Club Cup Games to be Held in Three Saudi Cities

RIYADH: The Arabian Football Federation has released the schedule and confirmed the venues for the group stage matches of the 2023 King Salman Club Cup. The Saudi cities of Taif, Abha and Al-Baha will host the tournament, with the matches being played between July 27 and Aug. 12, the federation said on Thursday. Before then, Sudanese club Al-Hilal will face Aymen Sfaxi of Tunisia in a delayed second qualifying round tie on July 4 and 7, the winner of which will join Saudi side Al-Ittihad, Iraq’s Al-Shurta and Al-Taraji of Tunisia in Group A
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