Abdul Latif Jameel Global Energy’s Fotowatio Renewable Ventures (FRV), a Spain-based solar and wind developer, has agreed to provide renewable energy to power Amazon’s operations, the technology and e-commerce giant said Sept. 19.
The agreement with FRV was announced alongside word of Amazon Web Services Inc.’s (AWS) selection as the preferred cloud provider to power Abdul Latif Jameel’s digital transformation. The diversified company, dually headquartered in Saudi Arabia and UAE, focuses on the mobility, energy, health and financial services sector.
FRV will use more than 1.5 terawatt-hours of clean energy annually from five solar farms in Spain to power Amazon’s operations, according to a news release. One of the farms is operational, and the remaining four are expected online in 2024.
“By collaborating with Abdul Latif Jameel on its cloud-first strategy and advancing the use of renewable energy, we can drive significant progress toward our shared goals of reducing carbon emissions and creating a more digital and sustainable future,” Yasser Hassan, AWS managing director of commercial sector for the Middle East, North Africa and Turkey, said in a news release.
The cloud provider agreement with AWS comes as Abdul Latif Jameel aims to build up its analytics, machine learning and generative artificial intelligence program to roll out new applications, according to the release. Plans are for the company to use AWS services that include Amazon Simple Storage Service and AWS Lake Formation to ingest, catalog and secure financial data, as well as Amazon Bedrock, which makes foundational models available to develop generative AI applications.
Recommended Reading
Chevron Targets Up to $8B in Free Cash Flow Growth Next Year, CEO Says
2025-01-08 - The No. 2 U.S. oil producer expects results to benefit from the start of new or expanded oil production projects in Kazakhstan, U.S. shale and the offshore U.S. Gulf of Mexico.
E&P Consolidation Ripples Through Energy Finance Providers
2024-11-29 - Panel: The pool of financial companies catering to oil and gas companies has shrunk along with the number of E&Ps.
Buying Time: Continuation Funds Easing Private Equity Exits
2025-01-31 - An emerging option to extend portfolio company deadlines is gaining momentum, eclipsing go-public strategies or M&A.
The Private Equity Puzzle: Rebuilding Portfolios After M&A Craze
2025-01-28 - In the Haynesville, Delaware and Utica, Post Oak Energy Capital is supporting companies determined to make a profitable footprint.
Artificial Lift Firm Flowco’s Stock Surges 23% in First-Day Trading
2025-01-22 - Shares for artificial lift specialist Flowco Holdings spiked 23% in their first day of trading. Flowco CEO Joe Bob Edwards told Hart Energy that the durability of artificial lift and production optimization stands out in the OFS space.
Comments
Add new comment
This conversation is moderated according to Hart Energy community rules. Please read the rules before joining the discussion. If you’re experiencing any technical problems, please contact our customer care team.