Russia seizes assets worth $50 BN in three-year ‘fortress’ push
Russia has confiscated 3.9 trillion roubles (about $50 billion) in company assets since 2022, signalling a decisive shift towards a 'fortress Russia' ...
Saudi Arabia has integrated its largest battery energy storage system (BESS) into the grid, marking a significant milestone in the country’s renewable energy development.
The innovative facility boasts a staggering capacity of 500 MW/2000 MWh, positioning itself as the largest operational single-phase energy storage project worldwide.
This ambitious development, located in Bisha, the southwestern Saudi Arabian province of ‘Asir, incorporates 122 prefabricated storage units crafted by the Chinese company BYD. Each storage unit is equipped with a 6 MW power conversion system and features four lithium iron phosphate (LFP) battery modules, providing robust power storage capabilities.
This systematic design enhances efficiency while addressing potential technical failures.
Engineered by Power China’s Hubei Engineering Co., the project overcame the challenges posed by the harsh desert climate, including extreme heat and sandstorms. Engineers developed advanced installation techniques and streamlined commissioning processes, greatly enhancing the system’s resilience.
The Bisha BESS is part of Saudi Arabia’s broader initiative to strengthen its renewable energy infrastructure. The kingdom’s long-term economic strategy “Vision 2030” aims to derive 50% of its energy from renewable sources. Energy storage is a vital component of this transition, providing grid flexibility and enabling the integration of intermittent power sources such as solar and wind.
The project is among several large-scale battery storage initiatives being developed in Saudi Arabia. In an ongoing procurement, the Saudi Power Procurement Company (SPPC) is tendering four 500 MW / 2,000 MWh BESS projects. The list of prequalified 33 bidders was released earlier in January, revealing Masdar, ACWA Power, EDF, and TotalEnergies as competitors for 15-year storage services agreements.
Australian researchers have pioneered a low-cost and scalable plasma-based method to produce ammonia gas directly from air, offering a green alternative to the traditional fossil fuel-dependent Haber-Bosch process.
European Commission President Ursula von der Leyen urged stronger sanctions and defence support for Ukraine as the EU's 18th sanctions package against Russia nears approval.
A deadly mass shooting early on Monday (7 July) in Philadelphia's Grays Ferry neighbourhood left three men dead and nine others wounded, including teenagers, as more than 100 shots were fired.
Archaeologists have uncovered a 3,500-year-old city in northern Peru that likely served as a key trade hub connecting ancient coastal, Andean, and Amazonian cultures.
The United States has rescinded licensing restrictions on ethane exports to China, allowing shipments to resume after a temporary halt and signalling progress in efforts to ease recent trade tensions.
An integrated mountain agropastoral system in Tajikistan has become the first Central Asian addition to the Globally Important Agricultural Heritage Systems, - the Food and Agriculture Organization of the United Nations (FAO) announced.
President Donald Trump’s postponement of a sweeping tariff deadline to 1 August has renewed hopes for trade deals with key partners, but left smaller exporters and businesses grappling with uncertainty.
Former UK Prime Minister Rishi Sunak is returning to Goldman Sachs as a senior adviser, the investment bank said on Tuesday.
Russia's budget deficit reached 3.69 trillion roubles ($46.89 billion), or 1.7% of gross domestic product (GDP), in the first half of the year, the same as expected for the full year, the finance ministry said.
Norway has listed two Russian fishing companies, Norebo JSC and Murman Seafood, in line with European Union sanctions adopted on 20th May. The Norwegian government stated that the decision supports the country’s broader security policy objectives.
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