Saving money and the planet with solar leasing

Saving money and the planet with solar leasing

Saving money and the planet with solar leasing
The Bahrain Mall's solar project produces 10 million KWH of clean energy yearly. (YellowDoorEnery photo)
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In recent years, Saudi Arabia has stepped up its pursuit of a cleaner, greener tomorrow, positioning itself as a global energy leader championing climate action.

Under the Saudi and Middle East Green Initiatives, the Kingdom is implementing more than 80 projects in the public and private sectors with investments worth more than SR705 billion ($188 billion) to build a more sustainable future for all.

Furthermore, COP16 of the UN Convention to Combat Desertification will be held in the Saudi capital Riyadh in December.

Another important step is Saudi Arabia’s intention to reach net-zero by 2060, which requires an annual emission reduction of 278 million tonnes of CO2 equivalent by 2030.

To achieve this goal, the Kingdom is targeting 130 GW of renewable energy production capacity by 2030, increasing its share in the energy mix to 50 percent.

Tapping into its immense solar power potential, the country more than doubled its renewable energy capacity last year from 700 MW in 2022 to more than 2.2 GW.

With the growing importance of solar, companies are looking for innovative ways to switch to clean energy while reducing their electricity costs.

Solar leasing, also known as a solar power purchase agreement, or PPA, is the preferred option among multinational companies and large family-owned businesses. This solution is now widely available through leading sustainable energy developers in Saudi Arabia.

With a solar lease, companies can enjoy immediate savings with no upfront investment, while focusing on their core business and transferring the entire construction and operational risk to developers such as Yellow Door Energy.

The savings can be substantial, significantly reducing operating costs.

Solar leasing offers a cost-effective way to adopt renewable energy, lowering operational costs and enhancing an organization’s green credentials without the burden of initial capital investment.

Khaled Chebaro

With diesel pricing going up, businesses are looking to solar leasing to reduce diesel consumption and reliance on diesel generators.

Additionally, the widespread adoption of solar leasing can enhance energy grid stability and resilience by diversifying the energy supply and reducing peak demand pressures.

Solar leasing offers a cost-effective way to adopt renewable energy, lowering operational costs and enhancing an organization’s green credentials without the burden of initial capital investment.

In addition to the cost savings, this approach is hassle-free, as the operations and maintenance are entrusted to an expert with a proven track record.

Yellow Door Energy has more than 90 customers and 240 MW of awarded solar projects in Saudi Arabia, Bahrain, UAE, Oman, Jordan and South Africa.

The company implements strict health and safety standards on all its 100-plus project sites and has a robust sustainable energy asset management system to live-monitor all its operating projects and maximize clean energy production.

With its desert climate, characterized by high temperatures and water scarcity, Saudi Arabia faces several environmental challenges, including desertification and land degradation. The country is also highly susceptible to the impacts of climate change.

Innovative technologies, such as solar PV, combined with the solar lease financing solution, along with traditional efforts such as land restoration, are an integral part of a holistic approach to environmental protection, climate action and achieving the Kingdom’s net zero 2060 target.

Additionally, the expansion of solar leasing can drive job creation and economic growth in the renewable energy sector, supporting overall national development.

In summary, with the Saudi government drafting regulations to advance a just energy transition, the Kingdom’s companies have a prime opportunity to amplify their contributions to a more sustainable future through the adoption of renewable energy solutions.

Khaled Chebaro is the Saudi Arabia country director at Yellow Door Energy
 

Disclaimer: Views expressed by writers in this section are their own and do not necessarily reflect Arab News' point of view

Pakistani PM hopes Sharaa assuming president’s office will bring peace to Syria

Pakistani PM hopes Sharaa assuming president’s office will bring peace to Syria
Updated 1 min 10 sec ago
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Pakistani PM hopes Sharaa assuming president’s office will bring peace to Syria

Pakistani PM hopes Sharaa assuming president’s office will bring peace to Syria
  • Al-Sharaa was declared president for a transitional phase on Wednesday, less than two months after he led a campaign that toppled Bashar Assad
  • Sharaa said he will form an inclusive transitional government that will build institutions and run the country until it can hold free and fair elections

ISLAMABAD: Pakistan Prime Minister Shehbaz Sharif on Saturday welcomed Ahmed Al-Sharaa’s assumption of the office of the Syrian president, hoping it would lead to peace in Syria.
Sharaa was declared president for a transitional phase on Wednesday, less than two months after he led a campaign that toppled Bashar Assad.
He was also empowered to form a temporary legislative council for a transitional period and the Syrian constitution was suspended.
“We welcome Mr. Ahmed Al-Sharaa’s assumption of office as President of the Syrian Arab Republic during the transitional phase and hope that the new leadership will be able to bring peace, progress and prosperity to the brotherly people of Syria,” Sharif said on X.

Syria’s President Ahmed Al-Sharaa delivers a speech at the Presidential Palace in Damascus, Syria in this undated handout image released on January 30, 2025. (Handout via REUTERS)

On Thursday, Sharaa said he will form an inclusive transitional government representing diverse communities that will build institutions and run the country until it can hold free and fair elections.
He was addressing the nation in his first speech since being appointed president by the military command that ousted Assad in a lightning offensive last year.
The group that led the offensive, Hayat Tahrir Al-Sham, has since set up an interim government that has welcomed a steady stream of senior Western and Arab diplomatic delegations keen to help stabilize the country after 13 years of civil war.


Pakistan army chief vows retaliation after militant attack kills 18 troops in Balochistan

Pakistan army chief vows retaliation after militant attack kills 18 troops in Balochistan
Updated 47 min 31 sec ago
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Pakistan army chief vows retaliation after militant attack kills 18 troops in Balochistan

Pakistan army chief vows retaliation after militant attack kills 18 troops in Balochistan
  • Pakistani forces suffered casualties when they engaged militants who had erected barricades on a key highway in Kalat district late Friday
  • Balochistan has for years been the scene of an insurgency, with several separatist groups staging attacks and targeting mainly security forces

ISLAMABAD: Pakistan’s army chief, General Asim Munir, on Saturday visited the southwestern Balochistan province after militants killed 18 Pakistani soldiers in the restive region, promising to hunt down the perpetrators of attacks on Pakistani security forces.
General Munir was given a comprehensive brief on the prevailing security situation in Balochistan during his visit, according to the Inter-Services Public Relations (ISPR), the Pakistani military’s media wing.
He offered funeral prayers for the deceased soldiers and later inquired after the injured ones at the Combined Military Hospital in Balochistan’s provincial capital of Quetta.
“Those who are acting as terrorist proxies of their foreign masters who have mastered the art of manifesting double standards of hunting with the hound and running with the hare are well known to us. No matter what these so called ‘frenemies’ may do, you will surely be defeated by the resilience of our proud nation and its Armed Forces,” the army chief was quoted as saying by the ISPR.
“For the defense of our motherland and its people, we will definitely retaliate and ‘hunt you down,’ whenever required and wherever you may be.”

Commuters ride past a bank set ablaze by militants at Kalat district, in Pakistan's Balochistan province on February 1, 2025. (AFP)

Pakistani forces suffered the casualties when they engaged militants who had erected barricades on a key highway in Balochistan’s Kalat district late on Friday night. The banned Baloch Liberation Army (BLA), one of the most prominent separatist groups operating in the southwestern province, claimed responsibility for the incident.
The fighting continued overnight into Saturday morning and the military said it had killed at least 23 militants in subsequent clearance operations.
Balochistan has for years been the scene of an insurgency, with several separatist groups staging attacks and targeting mainly security forces in their quest for independence. The separatists accuse Islamabad of exploiting the province’s natural resources. Successive Pakistani governments deny the allegations and say they have prioritized Balochistan’s development through investments in health, education and infrastructure projects.

A handout image released by Balochistan Levies on February 1, 2025, shows a bank damaged in an overnight attack by separatist militants in the town of Mangochar, located in Balochistan’s Kalat district. (Photo courtesy: Balochistan Levies)

In the past, the BLA has carried out major attacks in Balochistan and other parts of Pakistan, targeting security forces, ethnic Punjabis whom it considers “outsiders” in Balochistan, and Chinese interests and nationals.
More than 50 people, including security forces, were killed in August last year in a string of assaults in Balochistan that were claimed by the BLA. Last month, dozens of fighters of the separatist outfit wrested control of a small town in Khuzdar from the Levies paramilitary forces. Pakistani authorities had regained the town after hours of efforts.


Niemann enjoying riding shotgun at International Series India presented by DLF

Niemann enjoying riding shotgun at International Series India presented by DLF
Updated 49 min 42 sec ago
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Niemann enjoying riding shotgun at International Series India presented by DLF

Niemann enjoying riding shotgun at International Series India presented by DLF
  • Thick fog each day has caused numerous delays which resulted in organizers moving to a shotgun start for rounds 3, 4

GURUGRAM, INDIA: The first ever shotgun start on The International Series saw the advantage lie with Joaquin Niemann during the third round of the International Series India presented by DLF.

The Chilean reached seven under for the tournament at DLF Golf and Country Club after eight holes before darkness brought day three to an end.

Japan’s Kazuki Higa and Ollie Schniederjans from the US, playing in the same group as Niemann, are one and three shots back, respectively.

Niemann led after the second round, which was completed earlier in the day, by two shots from Higa and Schniederjans, and looks to be well in control of his game heading into tomorrow. They are all due to putt out on nine when they return in the morning. He made a birdie, on the third, and parred all the other holes in the third round.

Thick fog each day has caused numerous delays which resulted in the organizers moving to a shotgun start for rounds three and four in order for the tournament to reach completion on Sunday.

Play will commence at 7.30 a.m. local time on Sunday, weather permitting, with the final round starting at 11.10 a.m.

Niemann is attempting to win back-to-back titles on The International Series having claimed the season-ending PIF Saudi International powered by SoftBank Investment Advisers in December.

Australian Travis Smyth and Eugenio Chacarra from Spain are in joint fourth, four behind the frontrunner.

American Bryson DeChambeau, the star attraction this week and current US Open champion, is six back from the top.

It is the first time there has been a shotgun start on The International Series but not on the Asian Tour. Last year’s Mercuries Taiwan Masters saw two shotgun starts at the weekend because of delays caused by Typhoon Krathon.

This week’s inaugural $2 million event is the first event of the season on The International Series and the second stop on the Asian Tour, after last week’s Smart Infinity Philippine Open.


Pakistan, Azerbaijan aim to strengthen partnership in infrastructure, energy and trade

Pakistan, Azerbaijan aim to strengthen partnership in infrastructure, energy and trade
Updated 01 February 2025
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Pakistan, Azerbaijan aim to strengthen partnership in infrastructure, energy and trade

Pakistan, Azerbaijan aim to strengthen partnership in infrastructure, energy and trade
  • The development comes as Islamabad seeks closer ties, especially in trade and investment, with Central Asian states to overcome an economic crisis
  • In July last year, Azerbaijan President Ilham Aliyev visited Pakistan and announced the two nations were working to increase bilateral trade to $2 billion

ISLAMABAD: Pakistan and Azerbaijan have resolved to strengthen their partnership in infrastructure, energy and trade sectors, the Pakistani government said on Saturday, following high-level meetings between officials of the two countries in Baku.
Pakistan’s Minister of Investment, Privatization and Communications Abdul Aleem Khan met with Azerbaijan Prime Minister Ali Asadov and discussed with him avenues for enhancing bilateral cooperation, according to the Press Information Department (PID) of the Pakistani government.
The discussions focused on expanding economic collaboration, with Khan highlighting vast investment opportunities in Pakistan, particularly in privatization of state-owned enterprises (SOEs). He also invited Azerbaijan to invest in Pakistan’s motorway and other key sectors.
During the visit, the Pakistani delegation engaged in discussions with Azerbaijan’s Energy Minister Parviz Shahbazov, Transport Minister Rashad Nabiyev, Deputy Minister of Economy Samad Bashiri and President of the State Oil Company of the Republic of Azerbaijan (SOCAR), Rovshan Najaf.
“The meetings explored opportunities for mutual investment in various sectors, including infrastructure development, energy, and trade,” the PID said in a statement. “Additionally, discussions covered the privatization of government-run enterprises and other key investment initiatives.”
The meetings were also attended by Lt. Gen. Sarfaraz Ahmed, coordinator of Pakistan’s Special Investment Facilitation Council (SIFC), Federal Secretary Petroleum Momin Ali Agha and other senior officials.
Welcoming the Pakistani delegation, PM Asadov praised Pakistan’s recent economic advancements and assured Azerbaijan’s support in increasing bilateral trade and investment.
The development comes amid Islamabad’s efforts to forge closer ties, especially in trade and investment, with Central Asian states as Pakistan treads a tricky path to economic recovery. There have been a series of visits by Azerbaijani officials to Pakistan in recent months, with Azerbaijan President Ilham Aliyev visiting Pakistan in July 2024 and announcing the two nations were working to increase bilateral trade to $2 billion.
“The visit also included a review of progress on various Memorandums of Understanding (MoUs) between Pakistan and Azerbaijan. Special discussions were held on developing trade corridors, rail networks, and other communication links between Pakistan and Central Asian states to enhance regional connectivity,” the PID said.
“This visit marks another step toward deepening economic and strategic ties between Pakistan and Azerbaijan, paving the way for expanded cooperation in trade, investment, and infrastructure development.”
Last month, Pakistan’s Defense Minister Khawaja Asif said Islamabad and Baku were in the process of finalizing an agreement to enhance security ties through cooperation in arms trade, defense infrastructure and intelligence sharing.
In Dec. 2024, Pakistan waived customs and regulatory duties on imports from Azerbaijan under the Pakistan-Azerbaijan Preferential Trade Agreement. The agreement aimed to boost economic cooperation by reducing tariffs on goods like Pakistan’s sports equipment, leather, and pharmaceuticals and Azerbaijan’s oil and gas products.


Jordan eyes increased exports to Iraq amid strengthening economic ties

Jordan eyes increased exports to Iraq amid strengthening economic ties
Updated 01 February 2025
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Jordan eyes increased exports to Iraq amid strengthening economic ties

Jordan eyes increased exports to Iraq amid strengthening economic ties
  • Delegation arrives in Baghdad to take part in Jordanian-Iraqi business forum
  • 70 Jordanian firms to take part in forum as business leaders seek growth in bilateral trade

BAGHDAD: A Jordanian delegation arrived in Baghdad on Saturday to bolster economic cooperation and explore new opportunities in the Iraqi market, with a focus on expanding Jordanian exports, the Jordan News Agency reported.

The visit, organized by the Jordan Chamber of Industry in partnership with Jordan Export House, coincided with the Baghdad International Fair, where Jordanian industrial firms are set to showcase their products in a dedicated pavilion.

The delegation will also participate in a Jordanian-Iraqi business forum, facilitating discussions between key industrial and commercial figures from both nations.

JCI Chairman Fathi Jaghbir said the initiative aimed to restore Jordanian exports to Iraq to previous levels, when the Iraqi market accounted for roughly 20 percent of Jordan’s total exports.

He described Iraq as a “strategic depth” for Jordanian industries, and highlighted the chamber’s commitment to increasing trade between the two countries.

The forum will be attended by Jordan’s Minister of Industry, Trade and Supply, Yarub Qudah, alongside Iraq’s Minister of Industry and Minerals, Khaled Batal, and will feature a dialogue session on Jordan-Iraq trade, titled “Visions and a Bright Future,” to highlight the growing collaboration between the public and private sectors.

Jaghbir said that ongoing efforts between Jordanian and Iraqi business leaders have begun to show “tangible” results, with Jordanian exports to Iraq rising by 45 percent over the past year.

He also pointed to past initiatives, such as a specialized Jordanian industries exhibition in Baghdad and multiple bilateral forums, which have led to new agreements and the establishment of joint business chambers.

Ihab Qadiri, head of the JCI’s Iraq focus, underscored the country’s strategic importance for Jordanian exports, noting that 70 Jordanian companies are taking part in the business forum.

Official data shows Jordan’s exports to Iraq reached 830 million dinars ($1.17 billion) in the first 11 months of last year, a 45.6 percent increase over the same period in 2023. Iraq also accounted for 25.4 percent of Jordan’s total exports to the Greater Arab Free Trade Area, valued at 3.25 billion dinars.