Neom to Adopt Unique ‘Solar Dome’ Desalination Plant

Neom to Adopt Unique ‘Solar Dome’ Desalination Plant
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Neom to Adopt Unique ‘Solar Dome’ Desalination Plant

Neom to Adopt Unique ‘Solar Dome’ Desalination Plant

The Neom smart-city project will use cutting-edge solar technology to power a desalination plant that produces clean, low-cost, environmentally friendly freshwater. The decision aims to enhance the megacity’s position as a new global tourism destination, a center of innovation and environmental conservation, and as an accelerator of human progress.

Neom signed an agreement with UK business Solar Water Limited to build a desalination plant in the northwest of the Kingdom that uses the newly developed “solar dome” technology. It is hoped that thef first-of-its-kind, completely sustainable and carbon-neutral facility will shape the future of desalination in Neom, the Kingdom and throughout the world.

Work on the solar dome project will begin in February and is expected to be completed by the end of the year. The technology it employs will significantly reduce the environmental impact of the desalination process by producing less saline solution, a byproduct that can harm natural ecosystems.

The pioneering and innovative approach from Solar Water Limited, which was developed at Cranfield University in the UK, represents the first widespread use of concentrated solar power technology in desalination, Neom said.

Seawater is pumped into a hydrological solar dome made of glass and steel, where it is heated and evaporated to remove the salt. The process can continue at night thanks to the storage of solar energy generated throughout the day. The technology helps to prevent any damage to marine life as it does not dump saline solution created by the process back into the sea.

“Neom’s adoption of the experimental version of this program supports the sustainability goals set by the Ministry in the Kingdom, as shown in the National Water Strategy 2030, and is fully in line with the sustainable-development goals set by the United Nations,” said Minister of Environment, Water and Agriculture Abdulrahman Al-Fadhli.

Neom CEO Nadhmi Al-Nasr said that the megacity project has easy access to abundant amounts of seawater and completely renewable energy resources, which puts it in the ideal position to produce low-cost and sustainable fresh water using solar-powered desalination.

He added that the adoption of this type of technology reflects Neom’s commitment to supporting innovation, protecting the environment and preserving its purity to provide a comfortable and exceptional life. It also raises the possibility of using the technology in other parts of Saudi Arabia in cooperation with the Ministry of Environment, Water and Agriculture.

David Reavley, the CEO of Solar Water Ltd, said: “Currently, thousands of desalination plants around the world rely heavily on burning fossil fuels for water extraction, and we have the technology to desalinate water in a way that is completely sustainable and 100 percent carbon neutral."

“We are happy to partner with Neom, which has a strong vision of what the new future looks like in harmony and integration with nature.”



Gold Headed for Weekly Gain as Sept US Rate Cut Views Firm

An employee at a gold shop in Khan El Khalili, Cairo (Reuters)
An employee at a gold shop in Khan El Khalili, Cairo (Reuters)
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Gold Headed for Weekly Gain as Sept US Rate Cut Views Firm

An employee at a gold shop in Khan El Khalili, Cairo (Reuters)
An employee at a gold shop in Khan El Khalili, Cairo (Reuters)

Gold prices edged up on Friday and were set for a weekly gain on growing optimism about a September US rate cut, although expectations the Federal Reserve will ease aggressively have been tempered ahead of Chair Jerome Powell's upcoming speech.

Spot gold was up 0.3% at 2,462.82 per ounce, as of 1002 GMT and has gained more than 1% so far this week. US gold futures rose 0.3% to $2,500.50.

"Gold traders are proceeding with caution this week because US data has greatly lowered the chances of a 50 bps interest rate cut in September," said Zain Vawda, market analyst at MarketPulse by OANDA, Reuters reported.

US. inflation data indicates that gold may need additional catalysts to surpass $2,500, while this level could eventually be reached, it's unlikely in the near term, with gold expected to remain within the $2,360 to $2,480 range, Vawda added.

Recent data restored confidence that had been shaken by a surprisingly weak employment report earlier this month. It also bolstered optimism regarding improving inflation, as evidenced by the July releases of the producer price index and consumer price index this week.

Traders are convinced the Fed will slash rates on Sept. 18, but had debated the size of the reduction. Odds currently stand at 25% for a 50 basis-point cut, down from 36% a day earlier, according to the CME Group's FedWatch Tool.

A low interest rate environment tends to boost non-yielding bullion's appeal.

Minutes of the Fed's July policy meeting are due on Wednesday and Powell will speak on the US economic outlook next Friday at the Jackson Hole symposium.

Elsewhere, spot silver fell 0.6% to $28.22 per ounce, and platinum dipped 0.2% to $951.05 after gaining as much as 4% to hit a two-week high on Thursday. Palladium shed 0.6% to $941.19.

All metals were on track for weekly gains.