Emirates Waste to Energy Company, a joint venture between Bee’ah and Masdar, will develop the UAE’s first solar landfill project in Sharjah to boost the emirate’s renewable energy generation capacity.
In a solar landfill project, solar panels are installed on top of a landfill site to make optimum use of space while generating clean energy.
“Waste is a growing issue in the Gulf Cooperation Council region," Mohamed Jameel Al Ramahi, chief executive of Masdar, said on Thursday. "However, this project highlights how we can utilise closed landfills to deliver clean energy, while simultaneously supporting the UAE’s clean energy targets and UN Sustainable Development Goals.”
The project has a total capacity of 120 megawatts and will be constructed on top of Sharjah’s Al Sajah landfill, close to Bee’ah’s waste management complex, according to the statement. It will be completed in three phases, with the first phase due for completion in 2023.
“Bee’ah is looking to create new value from capped landfills while supporting the deployment of renewable energy in the UAE,” said Khaled Al Huraimel, group chief executive of Bee’ah and chairman of the Emirates Waste to Energy Company.
Emirates Waste to Energy Company will be responsible for the financing, design, procurement and construction of the project. It will also provide operation and maintenance services at the project for 25 years. The total investment in the project was not disclosed.
Established in 2017, Emirates Waste to Energy Company is also constructing a 30MW waste-to-energy facility in Sharjah, which is due to be completed later this year.
The UAE aims to increase the contribution of clean energy to its total energy mix from 25 per cent to 50 per cent by 2050. It is developing a number of renewable energy projects including the world's largest solar power plant in Abu Dhabi.
Separately on Thursday, Masdar signed an agreement with Etihad Credit Insurance, the UAE’s federal export credit company, to work on initiatives aimed at supporting investment in renewable projects.
As part of the deal, ECI and Masdar will explore establishing political and commercial risk insurance solutions to improve bankability and attract cheaper capital to Masdar’s renewable projects in the UAE and globally.
ECI will also support Masdar in its global expansion through “tailor-made credit insurance solutions in order to enhance its overall viability and competitiveness globally, as well as through extending its products and solutions to other companies registered at Masdar City”.
Masdar will also be collaborating with China Gezhouba Group International Engineering Company to explore the development of renewable energy projects worldwide. The deal was signed virtually as part of Abu Dhabi Sustainability Week 2021 on Thursday, according to a statement from Masdar.
Masdar is currently active in more than 30 countries with a total renewable energy capacity of 10.7 gigawatts.
Tributes from the UAE's personal finance community
• Sebastien Aguilar, who heads SimplyFI.org, a non-profit community where people learn to invest Bogleheads’ style
“It is thanks to Jack Bogle’s work that this community exists and thanks to his work that many investors now get the full benefits of long term, buy and hold stock market investing.
Compared to the industry, investing using the common sense approach of a Boglehead saves a lot in costs and guarantees higher returns than the average actively managed fund over the long term.
From a personal perspective, learning how to invest using Bogle’s approach was a turning point in my life. I quickly realised there was no point chasing returns and paying expensive advisers or platforms. Once money is taken care off, you can work on what truly matters, such as family, relationships or other projects. I owe Jack Bogle for that.”
• Sam Instone, director of financial advisory firm AES International
"Thought to have saved investors over a trillion dollars, Jack Bogle’s ideas truly changed the way the world invests. Shaped by his own personal experiences, his philosophy and basic rules for investors challenged the status quo of a self-interested global industry and eventually prevailed. Loathed by many big companies and commission-driven salespeople, he has transformed the way well-informed investors and professional advisers make decisions."
• Demos Kyprianou, a board member of SimplyFI.org
"Jack Bogle for me was a rebel, a revolutionary who changed the industry and gave the little guy like me, a chance. He was also a mentor who inspired me to take the leap and take control of my own finances."
• Steve Cronin, founder of DeadSimpleSaving.com
"Obsessed with reducing fees, Jack Bogle structured Vanguard to be owned by its clients – that way the priority would be fee minimisation for clients rather than profit maximisation for the company.
His real gift to us has been the ability to invest in the stock market (buy and hold for the long term) rather than be forced to speculate (try to make profits in the shorter term) or even worse have others speculate on our behalf.
Bogle has given countless investors the ability to get on with their life while growing their wealth in the background as fast as possible. The Financial Independence movement would barely exist without this."
• Zach Holz, who blogs about financial independence at The Happiest Teacher
"Jack Bogle was one of the greatest forces for wealth democratisation the world has ever seen. He allowed people a way to be free from the parasitical "financial advisers" whose only real concern are the fat fees they get from selling you over-complicated "products" that have caused millions of people all around the world real harm.”
• Tuan Phan, a board member of SimplyFI.org
"In an industry that’s synonymous with greed, Jack Bogle was a lone wolf, swimming against the tide. When others were incentivised to enrich themselves, he stood by the ‘fiduciary’ standard – something that is badly needed in the financial industry of the UAE."
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GULF MEN'S LEAGUE
Pool A Dubai Hurricanes, Bahrain, Dubai Exiles, Dubai Tigers 2
Pool B Abu Dhabi Harlequins, Jebel Ali Dragons, Dubai Knights Eagles, Dubai Tigers
Opening fixtures
Thursday, December 5
6.40pm, Pitch 8, Abu Dhabi Harlequins v Dubai Knights Eagles
7pm, Pitch 2, Jebel Ali Dragons v Dubai Tigers
7pm, Pitch 4, Dubai Hurricanes v Dubai Exiles
7pm, Pitch 5, Bahrain v Dubai Eagles 2
Recent winners
2018 Dubai Hurricanes
2017 Dubai Exiles
2016 Abu Dhabi Harlequins
2015 Abu Dhabi Harlequins
2014 Abu Dhabi Harlequins
Tightening the screw on rogue recruiters
The UAE overhauled the procedure to recruit housemaids and domestic workers with a law in 2017 to protect low-income labour from being exploited.
Only recruitment companies authorised by the government are permitted as part of Tadbeer, a network of labour ministry-regulated centres.
A contract must be drawn up for domestic workers, the wages and job offer clearly stating the nature of work.
The contract stating the wages, work entailed and accommodation must be sent to the employee in their home country before they depart for the UAE.
The contract will be signed by the employer and employee when the domestic worker arrives in the UAE.
Only recruitment agencies registered with the ministry can undertake recruitment and employment applications for domestic workers.
Penalties for illegal recruitment in the UAE include fines of up to Dh100,000 and imprisonment
But agents not authorised by the government sidestep the law by illegally getting women into the country on visit visas.
Cryopreservation: A timeline
- Keyhole surgery under general anaesthetic
- Ovarian tissue surgically removed
- Tissue processed in a high-tech facility
- Tissue re-implanted at a time of the patient’s choosing
- Full hormone production regained within 4-6 months
