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Emirati state-owned renewable energy project developer Masdar has entered the Philippines market with plans to develop 1GW of solar PV, wind and battery energy storage systems (BESS).

Chinese PV tracker provider Arctech has secured a 1.5GW solar tracker supply agreement with Chinese state-owned energy company PowerChina.

Masdar acquired 70% of Terna Energy’s outstanding shares at €20 per share, valuing the company at an enterprise value of €3.2 billion.

Masdar plans to develop including over 6GW of new solar capacity and 4GW of new solar manufacturing capacity in Egypt.

EDF Renewables, the Korea Western Power Company (KOWEPO) and Masdar have reached financial close for the 1.5GW Al Ajban solar project.

Construction is expected to start in November, with the 2GW module assembly plant built in the United Arab Emirates (UAE).

Masdar has raised US$1 billion in green bond financing to support the development of new clean energy projects.

Egypt aims to accelerate the approval process for new renewables capacity to be constructed in the country.

GCL Tech is to build the Middle East's first polysilicon plant and the company's first overseas facility in the UAE.

EWEC has awarded development rights for the 1.5GW Al Ajban solar project to French firm EDF Renewables and the Korean Western Power Company.