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Dubai Electricity and Water Authority (DEWA) has invited qualified companies and consortiums to submit proposals for the seventh phase of the Mohammed bin Rashid Al Maktoum Solar Park. This phase will add 2,000 megawatts (MW) from photovoltaic solar panels and include a 1,400MW battery storage system with a six-hour capacity, providing a total storage capacity of 8,400 megawatt-hours. This makes it one of the world’s largest solar-plus-storage projects.

The project, which will be implemented under the independent power producer model, supports the Dubai Clean Energy Strategy 2050 and the Dubai Net Zero Carbon Emissions Strategy 2050 that aim to provide 100% of the emirate’s total power capacity from clean sources by mid-century.

HE Saeed Mohammed Al Tayer, MD & CEO of DEWA, emphasised that this pioneering project aligns with the vision of HH Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, to make Dubai a global hub for clean energy and the green economy.

“We work in accordance with the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum to establish Dubai as a global model for sustainability and innovation in clean energy. The seventh phase of the Mohammed bin Rashid Al Maktoum Solar Park is a key strategic step in our ongoing efforts to diversify Dubai’s energy mix and increase the share of renewable and clean energy. It consolidates Dubai’s leadership in adopting the latest sustainable energy production and storage technologies and supports the net zero by 2050 target,” said Al Tayer.

“We have raised the renewable energy target in Dubai’s energy mix to 36% by 2030, compared to the originally planned 25%. With the completion of the seventh phase, the solar park’s total production capacity will reach 8,060MW by 2030, reducing CO₂ emissions by more than 8.5 million tonnes annually,” added Al Tayer.

The solar park’s current production capacity is 3,860MW, with an additional 800MW under construction. To date, DEWA has received 49 expressions of interest (EOIs) requesting the Request for Qualification document for the seventh phase. The EOI document was released on 16 May 2025 and the Request for Proposal document was issued to qualified bidders on 20 October 2025.

BBVA accelerates shareholder distributions

As announced at the second quarter 2025 earnings presentation, BBVA will have around €13 billion available for short-term distributions to shareholders. In this regard, on October 31, the bank launched the €993 million share buyback program that had been pending execution, as part of its ordinary shareholder distribution for 2024.

Furthermore, BBVA’s Board of Directors recently agreed to launch another substantial share buyback¹ once the European Central Bank (ECB) grants approval.

BBVA’s shareholder distribution policy entails an annual payout of 40 percent to 50 percent of net attributable profits. This means that 40 percent to 50 percent of the profit generated by the Group each year is allocated to shareholder distributions, through a combination of cash dividends and share buybacks. This policy is implemented through two payments: an interim dividend during the current year and a final dividend once the fiscal year has ended. BBVA has also committed to distribute excess capital over 12 percent.¹

¹ Pending approval from the governing bodies and subject to mandatory regulatory approvals.

November 4, 2025—Paris—Valeo, a global leader in thermal systems, and 2CRSi, a leading manufacturer of high-performance servers and storage solutions, announce a strategic partnership agreement to develop next-generation liquid cooling solutions tailored to edge computing environments. 

The collaboration will focus on creating scalable thermal management architectures that combine Valeo’s expertise in high-efficiency heat exchange, system integration, and operation across wide temperature ranges — acquired through decades of automotive innovation — with 2CRSi’s advanced know-how in server design and manufacturing. Together, the two companies aim to design compact, autonomous cooling systems capable of maintaining optimal performance in decentralized environments, such as outdoor edge data centers deployed near 5G antennas, where space, energy, and environmental conditions are critical challenges.

Through their combined strengths, Valeo and 2CRSi illustrate how advanced liquid cooling can enable sustainable, energy-efficient, and reliable data centers. “As demand for AI-driven and edge computing infrastructures grows, efficient and sustainable cooling has become a key enabler of performance and reliability”, said Christophe Delhovren, CTO at Valeo Power Division. “This collaboration is set to drive innovation in the rapidly growing edge data center market. With 2CRSi, we found a highly competent partner supporting us in the ambition to offer our customers advanced liquid cooling solutions for efficient and sustainable data management, wherever deployed.”

“Joining forces with Valeo, we’re bringing automotive-grade thermal reliability to the edge”, said Alain Wilmouth, CEO at 2CRSi. “Their mastery of high-efficiency heat exchange perfectly complements our high-density server design and liquid-cooling know-how to unlock compact, energy-frugal systems that keep performing even outside the white room”

A Strategic Alliance to Address the Fast-Growing Edge Computing Market

By leveraging their complementary strengths, Valeo and 2CRSi aim to accelerate the development of compact, energy-efficient cooling systems that can operate reliably in constrained or harsh outdoor environments. Valeo’s industrial expertise in thermal system design, integration, and control software perfectly complements 2CRSi’s excellence in high-performance server engineering, enabling the joint definition and manufacturing of the next generation of immersive liquid cooling solutions.

First Joint Innovation Showcased at Data Centre World Paris

The two companies introduce their first standalone dielectric-fluid-immersed cooling solution, specifically engineered to meet the demanding thermal and environmental requirements of edge infrastructures during Data Centre World Paris on Valeo’s booth (B22) on November 5-6, 2025, at Paris Expo Porte de Versailles. Designed for compact, outdoor environments, this system offers high energy efficiency, strong temperature and weather resistance, and reliable operation without the need for extensive supporting infrastructure.

About Valeo
Valeo is a technology company and partner to all automakers and new mobility players worldwide. Valeo innovates to make mobility safer, smarter and more sustainable. Valeo enjoys technological and industrial leadership in electrification, driving assistance systems, reinvention of the interior experience and lighting everywhere. These four areas, vital to the transformation of mobility, are the Group’s growth drivers.
Valeo in figures: 21.5 billion euros in sales in 2024 | 106,100 employees, 28 countries, 155 plants, 64 research and development centers and 19 distribution platforms on February 28, 2025. Valeo is listed on the Paris Stock Exchange.
Learn more at www.valeo.com

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