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Tesla Batteries Store Sun’s Power At World’s Biggest Solar Farm In Dubai
The Solar Park currently generates around 1 MW of electricity, but DEWA aims to expand it to 5 GW by the end of this decade.
While there’s no shortage of hot sunny days in the MENA region and the United Arab Emirates in particular, it’s not enough to harness the sun’s energy using solar panels. The generated energy has to be stored somewhere so that it can be utilized when needed, instead of only when the sun is shining. That’s why the Dubai Electricity and Water Authority (DEWA) and Tesla have joined forces to install a Tesla battery energy storage system (BESS) at the Mohammed bin Rashid Al Maktoum Solar Park, one of the world’s largest renewable projects in the world.
“The energy storage project using Tesla’s lithium-ion battery solution at the Mohammed bin Rashid Al Maktoum Solar Park, the largest single-site solar park in the world, aims to diversify the energy mix and enhance energy storage technologies,” said DEWA managing director and CEO Saeed Mohammed Al Tayer.
Another goal of the pilot project is to evaluate the technical and economic capabilities of the technology and to test its role in the integration between clean energy and energy storage to achieve maximum efficiency and reliability.
Currently, the Mohammed bin Rashid Al Maktoum Solar Park can generate around 1 MW of electricity, but DEWA aims to expand it to 5 GW by the end of this decade. To put the number into perspective, a typical nuclear reactor produces approximately 1 GW of electricity.
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DEWA is also working on other renewable projects, testing a sodium sulphur (NaS) energy solution and developing a 250 MW pumped-storage hydroelectric power station.
Together, these renewable projects aim to realize the Dubai Clean Energy Strategy 2050, whose goal is to produce more than 75 percent of Dubai’s energy requirements from clean, renewable sources to significantly reduce the city’s carbon footprint in the world.
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NEOPAY Wants To Follow Merchants Across Channels And Borders
A controlling 65% stake in noon payments would give NEOPAY access to marketplace sellers, online merchants and the payment flows they generate.
It’s been a long time since checkouts were single defined places. A merchant might take payments at a physical register, on its own website and through an online marketplace, sometimes in more than one country. NEOPAY wants to follow those transactions wherever they happen.
The UAE payments company has entered into an agreement to acquire a 65% controlling stake in noon payments. NEOPAY already runs the acquiring infrastructure that lets merchants accept card payments, along with omnichannel acceptance and a merchant services platform. This new deal would add noon payments’ embedded payments platform, e-commerce gateway and merchant network across the UAE, Saudi Arabia and Egypt. That would considerably expand both NEOPAY’s digital commerce capabilities and its regional reach.
For merchants, the attraction is a single provider for online and in-store payments, plus faster settlements, data and analytics, and value-added financial services.
“Payments should be simple, reliable, and built for the markets they serve,” said Faraz Khalid, CEO of noon. His counterpart at NEOPAY, Vibhor Mundhada, added: “We have built a strong payments business in the UAE, and our ambition is now to take that capability across the region”. The acquisition, Mundhada added, would “expand our footprint into Saudi Arabia and Egypt” while reinforcing NEOPAY’s position at home.
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NEOPAY is also keen to point out potential payment volume increases. The company says noon payments’ integrations with marketplace sellers and online merchants create high transaction density in some of the region’s fastest-growing digital commerce segments. It also believes control of the business would give it access to those merchant relationships and payment flows, and speed up the rollout of alternative payment methods and installment options.
The combined roadmap targets faster merchant onboarding, better payment performance, tighter fraud controls and embedded financial services. The deal could also strengthen cross-border payments and settlement along key regional commerce corridors.
NEOPAY Wants To Follow Merchants Across Channels And Borders
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