Abu Dhabi’s Aldar plans to spend $1.36bn on deals this year


EU to quadruple semiconductor production; France’s EDF to rely on imports: NRG matters

RIYADH: Signs of struggle are evident in the energy sector as countries such as the UK and France attempt to combat soaring prices. Elsewhere, initiatives like those by Brussels provide some sort of balance to the sector as they reflect a work in progress towards a sustainable future.

Looking at the bigger picture:

·Brussels will announce schemes to raise semiconductor production by 300 percent in the eight years to come, Bloomberg reported. 

This comes as the bloc aims to produce 20 percent of worldwide supply of chips by 2030 in attempts to become a semiconductor powerhouse. Read more: 

·The price cap which currently shields an estimated 22 million homes in the UK is projected to surge 54 percent as of April as wholesale prices in the past year soared, Reuters reported, citing the chief executive of energy regulator Ofgem.

UK households are expected to further suffer from the updated price caps to take place in October especially if political conflicts between Russia and Ukraine advance.

·Botswana plans to construct a solar power plant with a capacity of 200 megawatt, Bloomberg reported.

The project poses as the country’s largest renewable project up to date and aims to push the electricity demand supplied from sustainable sources in the country from 6 to 36 percent by 2035.

Through a micro lens: 

·UK’s electricity system manager National Grid ESO has collaborated with local renewable energy group Octopus energy to carry out a two-month study that aims to examine whether consumers can help balance supply and demand, the Financial Times reported.

Under the terms of the study, British households will be presented with financial incentives to limit their electricity use at times of peak demand.

·French nuclear electric power generation company Electricite de France SA, or EDF, has announced that its production in 2022 could plunge to levels that have not been witnessed since 1990, Bloomberg reported.

As a result, France is forced to rely on imported electricity while neighboring countries — that usually depend on the nuclear giant for electricity — suffer from shortages in supply.



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