NEW YORK, Feb. 15, 2023 (GLOBE NEWSWIRE) — Brooge Energy Ltd (“Brooge Energy” or the “Company”) (Nasdaq: BROG), a Cayman Islands-based infrastructure provider, which is currently engaged in clean petroleum products and biofuels and crude oil storage and related services, today announced a partnership through the company’s subsidiary Brooge Renewable Energy (“BRE”) with Siemens Energy (“SE”), one of the world’s largest energy technology companies, to build a PV solar farm to supply BRE’s Green Hydrogen and Green Ammonia project in Abu Dhabi, United Arab Emirates at the World Government Summit 2023 taking place on February 13 – 15, 2023 in Madinat Jumeirah, Dubai, United Arab Emirates.
Lina Saheb, Interim Chief Executive Officer, commented, “It is with great honor to announce our partnership with Siemens Energy at the World Government Summit 2023 as together we take a step toward a greener future. I look forward to working closely with the talented Siemens Energy team on this important project.”
BRE and SE partnership is aimed to build up to 650 MW solar PV plant to supply BRE’s planned Phase 1 of the green ammonia project with renewable energy. Siemens Energy will serve as the Technical Partner to Brooge and exclusive provider of solutions including engineering, design procurement, and construction of up to a 650 MW solar PV plant including grid connection and operation and maintenance services. The two companies will partner to obtain the necessary project approvals from governmental agencies as a first step of the project.
The UAE, as a leading global energy producer, has a critical role to play in the global energy transition. By launching this project, BRE will not only demonstrating its commitment to sustainable energy but also contribute to the UAE’s and the global efforts to reduce carbon emissions.
The green ammonia project is one of the first privately owned company green ammonia projects in the United Arab Emirates (UAE), led by BRE, which aims to produce renewable, carbon-free fuel using solar power. This project aims to have a positive impact on the UAE economy by promoting the growth of the renewable energy sector, creating new job opportunities, and reducing the country’s reliance on fossil fuels. It also aims to contribute to the global effort to reduce carbon emissions and combat climate. This project is a significant milestone in the UAE’s energy transition journey and demonstrates the country’s commitment to sustainable energy.
About Siemens Energy
Siemens Energy is one of the world’s leading energy technology companies. The company works with its customers and partners on energy systems for the future, thus supporting the transition to a more sustainable world. With its portfolio of products, solutions and services, Siemens Energy covers almost the entire energy value chain – from power generation and transmission to storage. The portfolio includes conventional and renewable energy technology, such as gas and steam turbines, hybrid power plants operated with hydrogen, and power generators and transformers. More than 50 percent of the portfolio has already been decarbonized. A majority stake in the listed company Siemens Gamesa Renewable Energy (SGRE) makes Siemens Energy a global market leader for renewable energies. An estimated one-sixth of the electricity generated worldwide is based on technologies from Siemens Energy. Siemens Energy employs around 92,000 people worldwide in more than 90 countries and generated revenue of €29 billion in fiscal year 2022. www.siemens-energy.com.
About Brooge Energy Limited
Brooge Energy Ltd, is a Cayman Islands-based infrastructure provider now intending to focus on renewable energy infrastructures and biofuels, next to clean petroleum products, crude oil storage and related services. The company conducts its business and operations through its subsidiaries Brooge Renewable Energy, Brooge Petroleum and Gas Investment Company FZE (BPGIC), and Brooge Petroleum and Gas Investment Company Phase 3 FZE. BPGIC, the Company’s primary operating subsidiary that focuses on midstream oil storage and other services, is strategically located outside the Strait of Hormuz at the Port of Fujairah in the Emirate of Fujairah in the UAE. The Company differentiates itself from competitors by providing customers with fast order processing times, excellent customer service and high accuracy blending services with low product losses. For more information, please visit at www.broogeenergy.com.
Forward-Looking Statements
This press release contains statements that are not historical facts and constitute “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Such statements reflect management’s current views based on certain assumptions, and they involve risks and uncertainties. Actual results, events or performance may differ materially from the forward-looking statements due to a number of important factors, and will be dependent upon a variety of factors, including risks described in public reports filed by Brooge Energy with the SEC. Readers are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made. Brooge Energy does not undertake any obligation to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise.
