The Oman Investment Authority partnered with Hong Kong-based Templewater to launch a $200 million Energy Transition Fund. The fund aims to finance projects in renewable energy, energy storage, clean fuels, green data centers, and low-carbon transportation, such as electric vehicles. The fund includes $100 million commitments from both the Future Fund Oman (FFO) and Templewater. FFO, established in January 2024 with assets of OMR 2 billion ($5.2 billion), focuses on stimulating local investment and economic diversification.

Morocco announced its plans to construct a 500 MW data center in Dakhla, which will be powered entirely by renewable energy. This construction is part of a broader 11 billion dirham (~$1.22 billion) digital transformation strategy, which also includes investments in artificial intelligence and the expansion of fiber optic networks. The announcement follows the launch of Morocco’s first sovereign data center in January this year.

The Abu Dhabi Islamic Bank (ADIB) mobilized AED17 billion (~$4.62 billion) in sustainable finance, progressing toward its AED60 billion (~$16.33 billion) target by 2030. The bank also released its inaugural Green Sukuk Allocation and Impact Report for its $500 million green bond issued earlier, with 90% of $500 million proceeds allocated to clean energy projects as of December 2024. ADIB reported an 87% reduction in Scope 1 emissions.

Petroleum Development Oman (PDO) is partnering with OQ and TotalEnergies on three clean energy projects: a 100 MW solar facility and two wind farms (totaling 200 MW), which are expected to come online in 2026.

Tamimi Markets signed a solar lease agreement with Yellow Door Energy to install 900 kW of rooftop solar systems at distribution centers in Jeddah and Dammam. As part of this project, over 1,500 bifacial solar panels will generate approximately 1.5 million kWh of energy annually. The project is expected to be completed by the end of the year. Yellow Door Energy will finance, install, and operate the systems.

GameChange Solar will supply its Genius Tracker system for the 1.25 GW Phase II of the Abydos Solar power project in Egypt, which is being developed by AMEA Power and built by CEEC-ZTPC. The project features a 600 MWh battery energy storage system and follows the solar project’s 560 MW Phase I. Scheduled for commissioning in May 2026, the project is expected to generate approximately 3,000 GWh of energy annually.