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Stonepeak currently manages 10.4 GW of renewable energy capacity

Stonepeak, a leading alternative investment firm focused on infrastructure and real assets, has unveiled WahajPeak, its first renewable energy platform in the Middle East.

The platform aims to acquire and develop high-quality utility-scale renewable energy projects, including solar, wind, and battery storage, across the Gulf Cooperation Council (GCC) and the wider Middle East.

WahajPeak’s launch comes amid strong regional policy support for decarbonisation, energy diversification, and grid modernisation, providing a favorable environment for renewable energy growth. 

Stonepeak's previous initiatives include the Asia Energy Storage Platform, Peak Energy, and Synera Renewable Energy, all focused on renewable asset development, ownership, and operation in Asia.

In North America, the firm developed Madison Energy Investments, a distributed solar platform fully realised in 2023.

The MENA portfolio

More recently, Stonepeak launched JouleTerra, a European renewables land aggregation platform, and Longview Infrastructure, a North American transmission investment platform.

Through its platforms and investments, Stonepeak currently manages 10.4 GW of renewable energy capacity across wind, solar, and battery storage projects that are operational, under construction, or in development.

WahajPeak marks the firm’s first dedicated renewable initiative in the Middle East, reinforcing Stonepeak’s commitment to driving the region’s clean energy transition while leveraging its global experience in renewable infrastructure development.

Mothana Qteishat, who will lead the platform, said, “Governments across the Middle East and North Africa are targeting the deployment of approximately 175 GW of renewable energy capacity by 2030, creating a rapidly growing need for reliable, utility-scale infrastructure. With the WahajPeak team’s strong execution track record and Stonepeak’s deep experience in renewable energy investment and platform building, we are well-positioned to meet this demand. We’ve designed WahajPeak to scale and adapt over time, in step with the region’s evolving energy landscape, and we are excited to work closely with our stakeholders to seize the significant opportunities ahead.”

Hajir Naghdy, senior managing director and head of Asia and the Middle East at Stonepeak, said, “Stonepeak has solidified its presence in the Middle East through dedicated boots on the ground in Riyadh and Abu Dhabi, and our previously announced partnership with The Arab Energy Fund. With the establishment of WahajPeak, we are furthering our commitment to the region. We look forward to leveraging our local presence and significant experience building and scaling pan-regional platforms as we work with Mothana and team to grow WahajPeak.”

Ryan Chua, senior managing director at Stonepeak, added, “WahajPeak is a great example of Stonepeak’s approach to platform creation—combining exceptional talent with long-term capital, and our sector capabilities and network, to deliver essential infrastructure—making it a natural fit for our global renewables strategy. We have the utmost confidence in Mothana and the WahajPeak team, whose extensive experience and expertise in the region will be invaluable as we look to support the region’s energy transformation.”

Also read: Oman introduces new incentives to boost green hydrogen projects

The plant is currently in its final testing phase. (Image source: DEWA)

Dubai Electricity and Water Authority (DEWA) has started trial operations and electricity export from its pumped-storage hydroelectric power plant in Hatta, following an announcement by HE Saeed Mohammed Al Tayer, MD and CEO of DEWA, during a site visit to the project.

The plant, currently in its final testing phase, has already produced more than 17,921 megawatt-hours of electricity.

Once fully operational, it will provide 250 MW of generation capacity, 1,500MWh of storage, and is expected to operate for up to 80 years. With peak demand in Hatta at around 39 MW, surplus power will be supplied to Dubai’s grid.

Al Tayer toured the underground power station, located 60 metres below ground level, where he reviewed the operation of two main water valves weighing 110 tonnes each.

He also visited the command and control centre, witnessed operational tests of pumping and generation, and inspected the upper dam, which has a storage capacity of 5.3mn cubic metres of water.

Expanding renewable targets

The structure consists of two compressed concrete walls, the main wall rising 72 metres in height and stretching 225 metres in length.

The AED1.42bn project is part of DEWA’s wider efforts to expand renewable and storage technologies.

Alongside solar PV, concentrated solar power, and battery systems, the Hatta plant contributes to the Dubai Clean Energy Strategy 2050 and the Dubai Net-Zero Carbon Emissions Strategy 2050, which target 100% clean energy generation by mid-century.

Using a closed-loop system, the plant generates electricity by releasing water stored in the upper dam through a 1.2 km tunnel to spin turbines, achieving a turnaround efficiency of nearly 79%.

Power can be dispatched to DEWA’s grid in less than 90 seconds when demand peaks. During low-demand periods, solar power from the Mohammed bin Rashid Al Maktoum Solar Park will be used to pump water back to the upper reservoir.

Also read: Dubai invests US$2bn on expanding electricity transmission network

 

The new incentives focus on reducing financial barriers during the critical early stages of project development

Hydrom, the authority driving Oman’s national Green Hydrogen Strategy, has announced a fresh set of fiscal incentives aimed at enhancing the commercial viability of projects participating in the country’s third green hydrogen auction round.

The measures reflect feedback from a market sounding exercise earlier this year and respond to evolving global hydrogen market trends, reinforcing Oman’s reputation as one of the world’s most structured and investment-ready hydrogen ecosystems.

Supportive fiscal framework for early-stage projects

The new incentives focus on reducing financial barriers during the critical early stages of project development. Developers will benefit from a 90% reduction in land lease fees during the development stage, with the possibility of further reductions during the Front-End Engineering Design (FEED) phase.

In addition, base royalties will be significantly lowered during the first years of production, and corporate tax exemptions of up to 10 years will be available.

These measures are designed to improve project economics, increase internal rates of return, and accelerate progress toward final investment decisions.

Flexible and scalable auction structure

Oman’s third green hydrogen auction round offers a land block of up to 300 sq km in Duqm, with minimum project sizes set at 100 sq km.

Bidders have the flexibility to define the footprint of their projects within the block, allowing them to tailor development plans to match individual strategies and market needs. This approach ensures both transparency and scalability, attracting a wide range of potential investors and developers.

Strong market interest

The auction has already drawn significant attention, with nearly 100 registrations from leading industry players and consortia spanning the green hydrogen value chain. This robust response underlines the growing interest in structured, policy-backed green hydrogen investment opportunities.

Round 3 continues to attract first movers and institutional investors eager to establish or expand their presence in a competitive and well-regulated market.

Encouraging participation and consortium building

The Statement of Qualification (SoQ) submission window remains open until 31 October 2025. Hydrom encourages all interested participants to register and submit their documents through the dedicated online platform.

To support the creation of strong project consortia, Hydrom will also release an updated consortium matchmaking list, a tool that has successfully connected qualified participants with strategic partners in previous rounds.

By combining a supportive fiscal framework, flexible auction design, and tools to facilitate collaboration, Hydrom is setting the stage for accelerated growth of Oman’s green hydrogen sector while attracting global investment.

his new solution enables organisations to respond efficiently to requests for proposals

Travanleo, a prominent ESG and sustainability technology company with offices in the UAE and India, has announced the launch of Carbon Xpress, a specialised solution within its flagship platform, Ecodrisil ESG Xpress.

Carbon Xpress is designed to help enterprises swiftly capture, calculate, and report greenhouse gas (GHG) emissions, simplifying and accelerating the emission disclosure process.

This new solution enables organisations to respond efficiently to requests for proposals (RFPs), supplier qualification programmes, investor inquiries, and climate-linked financing needs.

Carbon Xpress allows teams to produce audit-ready carbon reports aligned with globally recognised standards, eliminating much of the complexity, manual effort, and delays that typically hinder ESG reporting.

At the heart of Carbon Xpress is ESGAI, Ecodrisil’s integrated AI co-pilot that streamlines the entire carbon emission reporting lifecycle.

From data collection and validation to automated report drafting, ESGAI ensures faster turnaround times and greater confidence in disclosures, even when faced with tight deadlines.

Carbon Xpress offers guided workflows that enable rapid onboarding of emission data from both internal systems and value chain partners.

It automates emission calculations across Scope 1, Scope 2, and select Scope 3 categories by utilising built-in emission factors and calculators.

The platform generates reports that comply with frameworks such as the GHG Protocol and CDP, among other investor-preferred standards.

It also produces submission-ready documents tailored for RFPs, due diligence processes, or regulatory filings.

The solution is already gaining momentum in the industry, with early adopters spanning multiple sectors.

For example, a global technology company based in Europe is using Carbon Xpress to prepare Scope 1 and 2 emission disclosures for a significant RFP submission.

Meanwhile, a leading chemical manufacturer in the Gulf Cooperation Council (GCC) region is integrating the platform to meet increasing supplier evaluation and ESG scoring requirements from international buyers.

Both companies chose Carbon Xpress for its ability to deliver rapid, standards-compliant reporting within stringent timelines, and implementations are currently in progress.

Carbon capture is widely recognised as a cornerstone in achieving net-zero goals

Dr. Steve Griffiths, professor and vice chancellor for research at American University of Sharjah (AUS), is at the forefront of research into cutting-edge carbon capture technologies that could help transform the Middle East’s carbon-intensive industries. Speaking to Technical Review Middle East, he discussed the findings of a recent study, co-authored by AUS and Heriot-Watt University, which explores innovations ranging from advanced amine blends to electroswing systems, metal-organic frameworks, and their integration into the region’s sustainability agenda.

Carbon capture is widely recognised as a cornerstone in achieving net-zero goals, particularly in sectors such as oil and gas or cement, where emissions are difficult to eliminate. According to Dr. Griffiths, chemical absorption using blended amine solutions represents the most immediately viable option for the region’s carbon-intensive (or “hard-to-decarbonise”) sectors.

SteveGriffiths

Dr. Steve Griffiths, professor and vice chancellor for research at American University of Sharjah

“According to our paper, these are the most established CC technology, with MEA/MDEA blends achieving over 30% reduction in regeneration energy compared to single solvents,” he said. These systems have already seen proven industrial deployment, with facilities like Boundary Dam serving as examples. The oil and gas industry’s existing experience with gas processing technologies, he explained, makes adoption more feasible.

For cement production, the potential is equally promising. “Amino acid salts have been successfully tested at the Siemens Meri-Pori CCS project in Finland and so further options are in the pipeline,” he added.

Reducing energy consumption

Electroswing technologies, while promising, particularly due to their ability to operate at ambient temperatures of 25-40°C, remain unproven at commercial scale.

One of the most compelling aspects of these innovations is their ability to reduce the energy demands of carbon capture, which has historically been a major barrier to adoption. “Our paper confirms that advanced solvent blending reduces energy consumption by over 30%,” Dr. Griffiths said.

Traditional monoethanolamine (MEA) systems, he explained, require 0.9-1.2 MWh per ton of CO2 for regeneration, accounting for 70-80% of operating expenses.

IEA

Annual CO2 capture capacity vs CO2 storage capacity, current and planned, 2022-2030. (Image source: IEA)

By blending MDEA with MEA and using phase-split solvents, these requirements are significantly reduced. “Electrochemical regeneration enables operation at 40-80°C compared to typical MEA regeneration at 125°C, reducing both energy requirements and amine degradation,” he noted.

From a cost perspective, the study’s findings suggest encouraging possibilities.

“Our paper’s Figure 1 shows capture costs ranging from US$50-175 per ton CO2 depending on the source and technology, with natural gas processing at the lower end and cement/power sectors at the higher end,” Dr. Griffiths said.

Another area drawing increasing attention is the use of metal-organic frameworks (MOFs), which offer high efficiency in selectively capturing CO2. While still under development, progress is accelerating. “Metal-organic frameworks are advancing toward industrial deployment with pilot tests currently underway,” he said. MOF-74 variants are being tested at General Electric Gas Power and Drax Power Station through companies like Svante and Promethean Particles.

However, Dr. Griffiths stressed that certain performance benchmarks must still be met. “As we discuss in the paper, MOFs need to achieve 90% CO2 recovery with 95% purity and energy consumption of 3 GJ per ton (approximately) to be competitive with existing technologies. Note, these are performance targets, not yet demonstrated achievements,” he said.

Improvements in water tolerance and cycle stability have been significant, but the commercialisation timeline remains uncertain.

Aiding UAE industries

When it comes to regional integration, Dr. Griffiths believes these technologies have a natural fit with the UAE’s sustainability ambitions, mainly in areas like clean hydrogen production, industrial decarbonisation, and emerging carbon markets.

“We identify in the paper several applications relevant to the UAE and region,” he said. “Steam methane reforming for hydrogen production, which requires carbon capture to reduce emissions, is highlighted as achieving 96-99% CO2 concentration in exhaust streams, making capture highly efficient. We note that electroswing technologies benefit from curtailed renewable electricity cost, which aligns with the UAE’s great solar potential.”

Enhanced oil recovery remains an established use for captured CO2, but the focus, he emphasised, is shifting. “Carbon capture technologies are central to the sustainability and economic plans of the UAE and the broader GCC,” he said. “The focus is shifting from using CO2 for enhanced oil recovery to enabling large-scale industrial decarbonisation and the production of low-carbon fuels.”

The scale of ambition is significant. “For instance, in the UAE ADNOC targets 10 MtCO2/yr of capture capacity by 2030, Saudi Arabia is aiming for 44 MtCO2/yr by 2035 and Qatar targets 11 MtCO2/yr by 2035,” he noted. These targets are partly driven by the ambition to export low-carbon hydrogen and ammonia to key markets in Europe such as Germany, and Asia.

“By coupling carbon capture with significant natural gas resources, the region can secure its long-term role as a major energy provider while pursuing net-zero goals,” Dr. Griffiths concluded.

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