Several Middle Eastern governments are investing in renewable energy and new energy vehicles to diversify their economies, and the UAE launched an Energy Strategy 2050.

China is a major partner: Middle Eastern sovereign funds are investing in Chinese new-energy firms and the region imported 11.4 GW of PV modules from China in 2022.

Abu Dhabi invested about US$1.1 billion in NIO, and Saudi Arabia agreed a 21 billion Saudi riyal joint venture with China Express to develop vehicles.

In 2022 Saudi imports of Chinese PV components rose tenfold and UAE imports grew 340% year-on-year, making the UAE the largest component customer in the Middle East.

McKinsey estimates the MENA region receives 22–26% of the Earth's solar radiation, and APRICORP expects renewables to account for 34% of electricity investment there from 2022–2026.

MESIA projects the low‑carbon energy industry in the Middle East and North Africa will be worth $257 billion by 2030, with PV accounting for about 50% of project value.

Regional financing capacity is strong because many countries have large sovereign wealth funds and relatively high government spending, averaging around 20% of GDP and up to 28% in Saudi Arabia.

Green finance in the region was $3.8 billion in 2020 and grew substantially during 2022, notably in Turkey, the UAE, Egypt and Saudi Arabia.

Countries face practical barriers such as inadequate grid planning, insufficient storage, heavy capital needs, and dependence on oil revenues.

Events and policy reports such as Middle East Energy and studies by the Mohammed bin Rashid School of Government emphasize a transition push while noting MENA still relies on fossil fuels for about 98% of energy and faces rising demand of roughly 1.8% per year.

Middle Eastern countries are actively expanding solar and related clean-energy investments to diversify economies, attract foreign partners, and address climate and financing challenges.

Several Middle Eastern governments are investing in renewable energy and new energy vehicles to diversify their economies, and the UAE launched an Energy Strategy 2050.

Title:

Content: China 's orders surge' in the Middle East, hot money flows to more unicorns
Author: External Submission
Published: Updated:
The market and capital of the Middle East, the market and technology of China, are moving in both directions with enthusiasm.
The front foot of Saudi Arabia has just invested 40 billion in high-tech vehicles, and the rear foot of the United Arab Emirates has invested nearly 8 billion in NIO vehicles.
Why are the two oil giants looking at China's new energy?
Original text published in WeChat public account Ruicheng, Hong Kong 01 authorized to reprint.
Hot money from the Middle East is rushing to China for more unicorns.
Middle East out of money, domestic companies out of the project, what did they invest in?
At the same time, the heat of the Middle East market is also attracting attention.
Qatar Energy has promised to continue delivering liquefied natural gas to China for the next 27 years; China ’ s PV is heading out to the Middle East; and the North Gas Field, regarded as the world ’ s largest single gas field by Qatar, will receive a share in the next expansion project.
Chinese companies and the Middle East cooperation has been discussed one after another, what are the opportunities?
NIO Automotive showcases its automotive products in Wuhan in July 2022 (Getty)
01 Why did the new power of car building become a “hot spot ” for oil-producing countries?
On the evening of June 20, NIO announced that it has signed a share subscription agreement with CYVN Holdings, an Abu Dhabi investment institution. CYVN Holdings will make a total strategic investment of about US $1.1 billion (about 7.9 billion RMB) through the targeted issuance of new shares and the transfer of old shares.
What is CYVN Holdings?
It is a majority-owned investment institution by the Abu Dhabi government.
The Chairman of the Authority is the Minister of Finance of Abu Dhabi, and also serves as Vice Chairman of the Abu Dhabi Central Bank, Vice Chairman of the Sovereign Fund ADQ, and Director of the Sovereign Fund ADIA and the oil company ADNOC.
As we all know, Abu Dhabi is the largest of the seven emirates of the United Arab Emirates (UAE), accounting for 86% of the country's total area and 42% of the total population.
Therefore, CYVN Holdings' investment in NIO can be seen as a direct result of the UAE national team, which is an investment with a strong official color.
It means that the UAE believes in our electric vehicle enterprises in China and is optimistic about our development prospects in the field of new energy.
This is the second time in nearly half a month that Middle Eastern countries have extended an olive branch to Chinese new energy vehicle companies.
On June 11, the Saudi Ministry of Investment and China Express signed an agreement worth 21 billion Saudi riyals (about 40 billion RMB) to establish a joint venture in the development, manufacturing and sales of automobiles.
Saudi Arabia and the United Arab Emirates, two Middle East oil-producing countries, are clearly the biggest winners in the era of fuel vehicles, why invest a lot of money in new energy vehicles?
UAE: A flag of the United Arab Emirates flies in the wind on a boat at a Dubai pier on May 22, 2015. (Reuters)
There are two main reasons:
First, the resource curse crisis.
Oil reserves are capped, there is always a day to dig out.
Moreover, the current world energy landscape is also quietly changing, zero carbon background, countries are looking for cleaner solutions, shale gas, solar energy, hydrogen energy and many other energy technologies are continuing to develop.
This may further break the monopoly of the Middle Eastern countries in oil.
Therefore, it is only natural for the Middle East to consider economic restructuring in advance and avoid being abandoned by the times.
Today, most Middle Eastern countries, whether oil producers or non-oil producers, will develop a green economy, develop new energy and renewable energy as the basic strategy of national sustainable development.
For example, the UAE proposed its Energy Strategy 2050 as early as 2017.
In this context, new energy vehicles have naturally become a new investment hotspot and economic growth point for the Middle East market, especially Saudi Arabia and the United Arab Emirates.
Second, China has significant advantages in the field of new energy vehicles.
At present, China is the world's largest new energy vehicle market, whether it is technology, product or supply chain maturity, in the global context, have a prominent influence.
China has many new energy vehicle companies, global power battery leaders, intensive energy supply network, mature new energy vehicle industry chain, the competition has become white-hot intelligent cockpit and automatic driving technology... and these have also created China's new energy vehicles outstanding cost-performance ratio.
Therefore, whether it is investing in Chinese new energy vehicle companies, or introducing Chinese new energy vehicle brands, it is a valuable and potential option for investors in the Middle East.
02 Middle East Capital Flows to China ’ s Unicorn
The Middle East has capital, China has technology and market, such a scenario is not only in the new energy vehicle industry.
In other areas of China, money is pouring in from the Middle East as well.
At the just-held “China-Arab Entrepreneurs Summit ”, Hong Kong Stock Exchange CEO Au Guansheng said that by 2030, the investment capital of the Middle East sovereign fund is expected to increase to 10 trillion US dollars, by which time, more than 10-20%, or 1-2 trillion US dollars of investment, will be invested in China.
Chinese venture capital firms are receiving money from the Middle East.
What kind of investment and opportunities in China do Middle East investors prefer?
Among the top 10 sovereign wealth funds in the world, the Middle East countries occupy four seats.
According to research by alternative asset research organization Preqin, as of 2022, the total asset management scale of sovereign wealth funds in the Middle East reached 3.64 trillion US dollars, accounting for one-third of the total global sovereign wealth funds.
From the public data, it can be seen that since the beginning of 2023, capital from the Middle East is flowing into China, with special attention to cutting-edge technology, biopharmaceuticals, new consumer trends and other areas.
For example, the Public Investment Fund (PIF) of Saudi Arabia, the largest country in the Middle East, submitted a QFII (Qualified Foreign Investor) application to the China Securities and Futures Commission at the end of 2021, and by February 2022, its Hong Kong office had opened.
Previously, PIF has been investing frequently in China.
According to incomplete statistics of the Sovereign Wealth Fund “Saudi Model ”: Globalization and Localization of PIF, published by Gao Hao, director of the Global Family Enterprise Research Center of the School of Wudaokou Finance of Tsinghua University, PIF ’ s total overseas equity investment in 2017-2021 was about US $60.8 billion, of which the total investment in China was about US $12.2 billion, accounting for 20%.
In terms of industry distribution, there are 13 equity investments in China (including additional investment), 4 investments in online education (3 assignments, 1 head to 1), 4 investments in the Internet (1 Little Red Book, 1 word of mouth, 2 road trips), 2 investments in software services (Keep 1, 1 truck), and 1 investment in commercial real estate (WeWork). One pen goes to medical and health care (Ping An Good Doctor) and one pen goes to retail (melon seeds used car).
More recently, there has been a larger flow of money between the Middle East and China.
According to media reports, on the first day of the China-Argentina Entrepreneurs Summit, investment agreements worth 10 billion US dollars (about 71.6 billion yuan) were signed, covering more than 30 industries, including technology, renewable energy, agriculture, real estate, minerals, supply chain, tourism and healthcare.
Outside of the summit, investments continue to take place, such as in late May, when Saudi Aramid-backed venture capital firm Prosperity7 announced that it was investing “tens of millions of yuan ” in Shanghai-based driver-assistance technology startup Hyperview.
In addition to Saudi Arabia, the UAE is also investing heavily in China.
In May this year, the UAE hosted a conference specifically for Chinese entrepreneurs.
According to the country ’ s state media, the country hosted China ’ s “top 50 unicorns ” (startups valued at more than $1 billion) and launched a“ secret Arab-Chinese unicorns investment conference. ”
This is a win-win cooperation.
Over the past few years, governments across the Middle East have announced plans to invest heavily in reshaping their economies to achieve sustainable growth in the future.
Being deeply involved in the transformation of the Middle East is an opportunity that all countries want to fight for, and Chinese companies with valuable infrastructure and manufacturing technologies are naturally among them.
For the Middle East countries, China has technology and a market, and cooperation with China is also one of the key driving forces for the successful transformation of the Middle East countries.
A clear trend is that, based on the strategic planning of the Middle East countries themselves, there is more and more investment in China to meet the needs of the industry.
Many Middle East LPs want to drive local industry development through investment and economic transformation.
Industrial investment has become a "two-way drive" between China and the Middle East.
Xi Jinping and Saudi Crown Prince and Prime Minister Mohammed meet in Riyadh, Saudi capital, in December 2022 (Reuters)
03 Outbound Middle East Heat
At the same time that the capital of the Middle East looks to the "East", the Middle East has become a popular area for Chinese companies to go overseas.
For example, when Europe and the United States began another round of strikes on Chinese PV, Chinese PV companies set their eyes on the Middle East market, which is opening its enthusiastic arms to us.
According to InfoLink data, in 2022, the Middle East imported 11.4 GW of PV modules from China, an increase of 78% compared to 2021.
In the past, the import of components in the Middle East market was mainly Pakistan and Israel, while in 2022, the United Arab Emirates and Saudi Arabia saw significant growth.
Saudi Arabia ’ s imports from China increased tenfold in 2022 compared to 2021, while the UAE grew by 340% year-on-year in 2022, making it the largest component customer in the Middle East.
Moreover, it is not only the supply of components, Chinese photovoltaic companies have been on the move, directly to the Middle East, to strive for the development of photovoltaic solar independent power generation projects in the Middle East.
As mentioned above, on June 11, the first day of the China-Argentina Entrepreneurs Summit, the two countries signed an investment agreement worth $10 billion, which covers the renewable energy sector.
This is a great market opportunity for Chinese photovoltaic companies.
According to the Middle East Photovoltaic Industry Association (MESIA), the low-carbon energy industry in the Middle East and North Africa region will be worth $257 billion by 2030.
Among them, PV accounts for 50% of the project value, which means that the Middle East PV market is nearly trillion.
Opportunities in the Middle East market are not only in the photovoltaic sector, in the case of Saudi Arabia, there are also other rich opportunities in a number of technology sectors, including energy technology.
Examples include new digital infrastructure such as data centers, supply chain solutions for consumer goods, and fintech.
Of course, the rich Middle East is a hot land and a jungle, with countless opportunities and brutal competition.
For example, in addition to establishing cooperative relationships with local companies, enterprises must also build their own teams in the local area, such as the maintenance of relations with the government.
In short, do the brand well or do the local scarce supply chain, but either way, it takes time to accumulate.
Going to the Middle East also requires long-termism.

Title:

Content: Contribution ｜ Explore Hong Kong ’ s role and opportunities in the development of renewable energy in the Middle East
Author: 01 More Voices
Published: Updated:
In recent years, Hong Kong has actively promoted the development of renewable energy and launched a number of related products in the financial market.
In addition, more and more Hong Kong enterprises have also started to participate in the development of this industry, especially in the financial market, and launched a number of financial products to support the development of renewable energy.
At the same time, many countries in the Middle East, such as the United Arab Emirates, Jordan, Saudi Arabia, Oman and Turkey, are also actively engaged in various large-scale projects to promote the development of renewable energy, and expect to see a different energy mix and economic development model in 2030 or 2050.
For Hong Kong, China and other countries, the development opportunities of the Middle East market cannot be ignored, and Hong Kong ’ s participation in this area cannot be underestimated.
Submitted by: Kwong Cheuk-wui
Recently, I had the opportunity to participate in several seminars on economic and energy development in the Middle East, and have in-depth exchanges with government representatives in charge of foreign affairs and trade from various Middle Eastern countries and Azerbaijan.
These exchange experiences provide the author with a wealth of insight.
After many in-depth talks, to understand the interest and momentum of the development of renewable energy in many countries in the Middle East, the author synthesized the information from various parties and came to the following insights: The reason why the major oil producers in the Middle East are actively developing renewable energy is to achieve economic diversification and get rid of dependence on oil and related industries.
They hope to turn the country ’ s surplus renewable energy into new, dependable foreign revenues (i.e., revenues generated from natural resource exports; “Rents ”) through innovative technologies.
For other non-oil producing countries, they want to achieve economic sustainability through the development of renewable energy, reduce dependence on traditional fossil fuels or electricity imports, and convert renewable energy into new external rental income to boost the country ’ s economic development.
From this, it can be seen that the Middle East countries are very concerned about the development of renewable energy, but also hope to complete the energy transformation as soon as possible, and look forward to renewable energy can produce more and greater economic benefits, create new dependent income, promote economic diversification and modernization, but also benefit thousands of people.
As a result, many countries in the Middle East have invested heavily in and promoted energy transformation and clean energy development.
Although many countries have made extraordinary achievements in driving renewable energy development, they also face many challenges.
Jordan, for example, has a wealth of renewable energy resources, including solar, wind, geothermal and bioenergy, as well as state-of-the-art renewable energy laws, regulatory mechanisms and development frameworks.
Earlier this year, Jordan successfully achieved its national roadmap, originally set for 2030, with renewable energy accounting for 31% of total energy.
The Jordanian government also plans to increase this target to 50%, and is committed to building the country into a regional renewable energy development center and exporting environmentally friendly power to neighboring countries to increase the country ’ s foreign revenue.
However, like other Middle Eastern countries, Jordan faces a host of challenges.
These challenges include lagging energy infrastructure, imperfect grid planning, an over-concentration of resources on solar and wind with less focus on geothermal energy, and a lack of energy storage systems and foreign investment.
In addition, there is the debt problem of the national power company.
These difficulties not only affect Jordan ’ s progress in developing renewable energy, but also act as a barrier to modernizing and diversifying the country ’ s economy.
Some Jordanian officials and scholars are concerned about whether the development of renewable energy is progressing as expected.
They are concerned that if the development of renewable energy and its core economic development model are not carried out smoothly, or if the newly set targets are not successfully achieved, the country ’ s economic sustainability will be adversely affected.
At the same time, it can undermine the credibility and governance of the government.
In particular, those political forces that have been opposed to the use of renewable energy to promote economic development and diversification may take the opportunity to launch opposition actions, further endangering the political stability and regional security of the country and the Middle East as a whole.
It is worth noting that these challenges are not only in Jordan, but also in Middle Eastern countries such as Morocco and Egypt.
Other countries such as the United Arab Emirates, Oman, Saudi Arabia and Qatar have also made great efforts to develop solar and wind power in recent years, but in addition to the above concerns and challenges, there are also concerns that the development of renewable energy will have some impact on the high dependence of these countries ’ economies on oil and gas markets, which may affect existing incomes and lead to economic and social instability.
Other factors include the huge demand for capital, the need for foreign technology and talents, the need for talent training, economic feasibility, etc. These are also issues of concern to the officials of these Middle Eastern countries.
These challenges are in fact a valuable development opportunity for Hong Kong.
The key is to make good use of our strengths, especially in the Belt and Road Initiative, to work with the Middle East countries to promote renewable energy and green economy development.
This not only helps these countries diversify their economies, but also creates development opportunities for Hong Kong businesses and governments, and indirectly promotes the development of other industries.
I suggest that Hong Kong can establish cooperation platforms and channels of communication with transnational organizations in the Middle East and North Africa, such as the Arab Parliamentary Union, the Gulf Cooperation Council, the Turkic Parliament and the Arab Maghreb Union.
Such a platform could be used to explore free trade agreements and to help Middle Eastern countries provide services such as finance, advisory, legal, education or training, and energy infrastructure.
This will not only help Hong Kong consolidate its leading position in the professional services sector and the financial sector, but will also directly or indirectly create many development opportunities, especially in Islamic finance.
Finally, Hong Kong can consider providing financial support to the Middle East countries by assisting in the issuance of Islamic financial bonds to promote the development of renewable energy, and can also take the opportunity to develop Islamic finance in Hong Kong as a new financial center outside the Islamic world.
Of course, Hong Kong should not only cooperate with major countries such as Saudi Arabia and the United Arab Emirates or the above-mentioned multinational organizations and platforms, but also consider other regions with development potential and worthy of investment, such as Turkey, Azerbaijan, Morocco, etc.
This diverse collaboration will help Hong Kong expand its international presence and contribute to global sustainability in the renewable energy sector.
The author, Mr Kwong Cheuk-rui, is the Executive Director of the Hong Kong Group of Ideas, a Master of Arts from the Australian National University, and has worked at the Australian Institute of International Affairs.
The article is only the opinion of the author and does not represent the position of Hong Kong 01.
Please email us at 01view @ hk01.com.
Please attach the author ’ s real name and contact details.
If not applicable, without prior notice.

China is a major partner: Middle Eastern sovereign funds are investing in Chinese new-energy firms and the region imported 11.4 GW of PV modules from China in 2022.

Abu Dhabi invested about US$1.1 billion in NIO, and Saudi Arabia agreed a 21 billion Saudi riyal joint venture with China Express to develop vehicles.

In 2022 Saudi imports of Chinese PV components rose tenfold and UAE imports grew 340% year-on-year, making the UAE the largest component customer in the Middle East.

McKinsey estimates the MENA region receives 22–26% of the Earth's solar radiation, and APRICORP expects renewables to account for 34% of electricity investment there from 2022–2026.

Title:

Content: Global News
The World Today - A pivotal and promising role for the countries of the region in the transition to renewable energy
You are now following the news of a pivotal and promising role waiting for the countries of the region in the transition to renewable energy from the news section of the world and now we leave you with full details
MARCH 3, 2023 02: 16 AM - The Middle East and North Africa (MENA) region has always played a pivotal role in the oil and gas markets, but this role will not stop if the world decides to move to low-emission sources of energy.
According to APRICORP, renewable energy investments are expected to account for 34 percent of electricity investment in the Middle East and North Africa between 2022 and 2026.
According to McKinsey & Company, the Middle East and North Africa receives 22 to 26 percent of the solar radiation energy on Earth, due to its geographical location.
Solar energy is not the only thing that distinguishes the region, as countries in this region are likely to be the source of 10 to 20 percent of the global hydrogen market by 2050, according to Roland Berger.
Hydrogen is likely to generate annual revenues of $120 billion to $200 billion by 2050, and many countries in the region have already started projects to transport and export hydrogen to energy-consuming countries.
The region has about 10 percent of global carbon capture and storage capabilities.
Despite the many challenges that countries in the region must face in this regard, the Middle East and North Africa (MENA) region has the potential to play a pivotal role in the global energy transition.
The most prominent question about green finance comes in this promising region.
Nael Amin, senior director of financial services at Arthur D. Little, said on this week ’ s episode of Dot Gulf ’ s World of Energy program that green finance in the Middle East and North Africa, including green bonds, had reached $3.8 billion in 2020.
This amount, according to Amin, has grown significantly during the year 2022, specifically in 4 countries, Turkey, the Arab Emirates, Egypt and Saudi Arabia, due to the development in the region and increased investments in this sector, as well as providing some important requirements in this sector.
Amin explained that besides financing, the region is witnessing progress in many areas in terms of dealing with environmental factors, which is an attractive factor for investors.
Over the past two years, banks have significantly increased their legislation in this area, as each of the Gulf countries has implemented the necessary standards and requirements to support the business environment in the field of green energy.
There are challenges, according to Amin, the most prominent of which is the data challenge, as he pointed out that banks are approaching the activities of customers to know the necessary data on funded projects, for example, in the case of financing the construction of a building, you must know the amount of energy that will be consumed by this building.
The Gulf States are working and collaborating with each other to understand the framework that must be adopted to develop infrastructure in the field of renewable energy and promote sustainability, which will positively impact and support green investment in general in the region.
We hope that we have succeeded in conveying the full details of a pivotal and promising role that awaits the countries of the region in the transition to renewable energy.
In God ’ s care and protection.
You may also read.

MESIA projects the low‑carbon energy industry in the Middle East and North Africa will be worth $257 billion by 2030, with PV accounting for about 50% of project value.

Regional financing capacity is strong because many countries have large sovereign wealth funds and relatively high government spending, averaging around 20% of GDP and up to 28% in Saudi Arabia.

Title:

Content: 00: 00
Expo 2020 Dubai Today
Mohammed bin Rashid College supports governments in the region to adopt green transformation
T + T - normal size
The Mohammed Bin Rashid School of Government (MBRSG) has published two new regional reports outlining the need for governments in the Middle East to build new tools and policies to advance climate action and accelerate the transition to a low-carbon economy.
The two reports, “Better Recovery: A Green, Resilient and Fair Recovery in the Middle East, ” were jointly conducted with HSBC to produce two regional studies,“ Aligning Policies with Green, Resilient and Fair Recovery Processes in the Middle East, ” and “Financing the Green Transformation in the Middle East. ”
The reports put forward a series of recommendations for eight countries in the Middle East, including Bahrain, Egypt, Kuwait, Iraq, Oman, Qatar, Saudi Arabia and the United Arab Emirates, that could contribute to achieving the United Nations Sustainable Development Goals and supporting the goals of the Paris Climate Agreement.
The first report, “Aligning Policies with Green, Flexible, and Equitable Recovery Processes in the Middle East, ” provides an overview of government spending and fiscal policies for recovery throughout the first year of the COVID19 pandemic, and assesses governments ’ contributions to environmental conservation, resilience, and recovery processes during the pandemic.
Recovery phase
Dr. Ali bin Sebaa Al Marri, Chief Executive Officer of the Mohammed bin Rashid School of Government, said: “The world is in a real recovery phase from the COVID-19 pandemic, and governments in the Middle East have an opportunity to realign development to more committed and environmentally resilient pathways. ”
Development Procedures
Dr. Marie Loumi, non-resident research fellow at the Mohammed bin Rashid School of Government and co-author of the first report in 2020, said: “Low oil prices have affected the ability and willingness of oil producers in the region to spend on development measures, with the first year of the COVID19 pandemic seeing few examples of recovery-oriented green policies in the Middle East.
1. Recommendations
The first report concludes with recommendations for immediate action to put the region on track towards a sustainable, low-carbon future, and calls on governments to adopt best practices in developing and implementing recovery policies.
Mustafa Bayoumi, a sustainability policy researcher at the Mohammed bin Rashid School of Government and co-author of both reports, said: “There are actions governments can take now that will have a significant impact, putting the Middle East at the forefront of the region ’ s clean energy transition. ”
The second report, “Financing the Green Transformation in the Middle East, ” focuses on how the region is financing the green recovery after the pandemic, noting that governments in the Middle East are well positioned in terms of financing the green economy and how to channel it, and according to the World Bank, government spending as a percentage of GDP is high in many of the countries studied.
With an average of 20% of GDP in the region and as high as 28% in Saudi Arabia, compared to the global average of 17%, the Middle East is also home to some of the world ’ s largest sovereign wealth funds.
Pioneering role
Sabreen Rahman, Managing Director and Head of Sustainability, Europe, Middle East and Africa, HSBC Bank, said: “HSBC is playing a leading role in leading the transition to a carbon-neutral global economy, not only by financing it but by helping shape and influence the global policy agenda.
Print Email

Green finance in the region was $3.8 billion in 2020 and grew substantially during 2022, notably in Turkey, the UAE, Egypt and Saudi Arabia.

Countries face practical barriers such as inadequate grid planning, insufficient storage, heavy capital needs, and dependence on oil revenues.

Events and policy reports such as Middle East Energy and studies by the Mohammed bin Rashid School of Government emphasize a transition push while noting MENA still relies on fossil fuels for about 98% of energy and faces rising demand of roughly 1.8% per year.

Title:

Content: 900 exhibitors showcase their innovations at Middle East Energy in Dubai
T + T - normal size
His Excellency Saeed Mohammed Al Tayer, Managing Director and Chief Executive Officer of Dubai Electricity and Water Authority (DEWA), inaugurated yesterday Middle East Energy 2023, the region ’ s leading energy event with over 900 suppliers from around the world showcasing their latest innovations and new technologies to the market.
The 48th edition of the exhibition, which runs until March 9 at the Dubai World Trade Centre and is attended by more than 35,000 energy professionals, will feature an exhibition and three separate conferences, including Intersolar Middle East, the Strategic Conference and Technical Seminars, which explore plans and policies to shape the region ’ s energy sector and inform attendees of its current reality.
During his tour, Al Tayer spoke to a number of leading exhibitors from the region and the world to take a closer look at the latest products and trends in the industry, including Fanar and the German National Pavilion.
Sibylle Bfaff, Consul General of the Federal Republic of Germany in Dubai, stressed that Germany has been keen to participate in the Middle East Energy Show for years, and the German pavilion returns with the largest area in the history of the exhibition this year with the participation of 58 companies, reflecting an increase of 20% compared to last year.
She said: “We were delighted that His Excellency Saeed Al Tayer visited our stand, where he was particularly interested in energy efficiency and sustainability in line with the objectives of the UAE Year of Sustainability.
The UAE is our largest trading partner in the region and is a destination for companies looking to do business in the region and looking forward to the opportunities the region offers. ”
Future Expectations
Nicholas Daher, Principal Energy Analyst at The Economist Intelligence, opened the strategic conference by talking about the current state of energy consumption in the region and the world and the outlook for the future: “Fossil fuels in the Middle East and North Africa account for 98% of total energy consumption, with energy demand in the region expected to grow by 1.8% annually, making it the second fastest growing region in the world after Asia.
The Middle East needs to strike a balance between decarbonising efforts and meeting growing energy demand. ”
Change of Directions
At the Intersolar Middle East Conference, Ahmed Nada, President of the Middle East Solar Industry Association, highlighted the rapidly changing energy trends in the Middle East.
“The cost of solar energy was very high decades ago, and landowners across the region did not trust the vision of a world-leading solar ecosystem, as other fuels such as oil and gas were abundant at the time, ” he said.
But things have changed considerably faster than we can imagine, as the Middle East is now poised to make a real contribution to global energy security by replacing existing resources with renewable resources.
“Several countries like Egypt, Algeria, Libya and Turkey are competing to supply Europe with energy, and this cannot be achieved without coordinated efforts and cooperation.
The Middle East will certainly play a key role in enhancing energy security in the future, especially with regard to renewables.
We have also seen a shift in the supply chain away from reliance on China as the sole source, if the COVID-19 crisis teaches us that no single country can take over supply, prompting Europe to invest heavily in production processes while the United States has enough assets and high demand to rely on itself in domestic manufacturing.
The 48th Middle East Energy Show will see the return of the previously successful Global Buyers Programme, bringing together key industry stakeholders, investors and suppliers from around the world by connecting with more than 100 direct procurement influencers.
Print Email

Middle Eastern countries are actively expanding solar and related clean-energy investments to diversify economies, attract foreign partners, and address climate and financing challenges.


Middle Eastern countries are actively investing in renewable energy and pursuing economic diversification away from oil.

The United Arab Emirates published an Energy Strategy 2050 as early as 2017.

Jordan reached a 31% share of renewable energy earlier than planned and aims to raise that target to 50%.

Saudi Arabia and the United Arab Emirates have made large strategic investments in Chinese new-energy vehicle and related technology companies as part of broader diversification plans.

Middle Eastern sovereign wealth funds are substantial, with total assets of about $3.64 trillion as of 2022, and they are increasing overseas investments.

Chinese photovoltaic companies exported heavily to the Middle East in 2022, with the region importing 11.4 GW of PV modules from China, a 78% increase from 2021.

Saudi Arabia's imports of PV modules from China rose tenfold in 2022 compared with 2021, and UAE imports grew 340% year-on-year in 2022, making the UAE the largest component customer in the Middle East.

The Middle East and North Africa receive between 22% and 26% of the world's solar radiation, giving the region strong natural potential for solar power.

APRICORP projects that renewable energy investments will account for 34% of electricity investment in MENA between 2022 and 2026.

Analysts estimate the region could supply 10–20% of the global hydrogen market by 2050, with hydrogen potentially generating $120–200 billion in annual revenues by then.

The Middle East Photovoltaic Industry Association (MESIA) estimates the MENA low‑carbon energy industry will be worth $257 billion by 2030 and that PV accounts for about half of project value in the region.

Green finance in the region has expanded, with green bonds reaching $3.8 billion in 2020 and growing significantly by 2022 in countries including Turkey, the UAE, Egypt and Saudi Arabia.

Regional industry events such as Middle East Energy and Intersolar Middle East showcase rapid interest in renewables and feature government and industry leaders discussing transition plans.

Speakers at these events note that fossil fuels still dominated regional energy use, with a cited figure of about 98% of total energy consumption in MENA, while demand is projected to grow.

The Economist Intelligence projection cited at the conference estimates regional energy demand growth of about 1.8% per year.

Reports and commentators emphasise practical barriers to faster deployment, including lagging grid infrastructure, limited storage capacity, concentration on a narrow set of technologies, and financing or debt constraints for utilities.

Policy studies from the Mohammed bin Rashid School of Government recommend aligning recovery policies and finance to accelerate a green, resilient transition and note that several regional governments have high public spending and large sovereign funds to support financing.

The Middle East is both highly exposed to climate impacts and strategically motivated to plan for a post‑oil world, which is prompting governments to pursue renewable projects and economic restructuring.

Countries such as Egypt are positioning themselves as regional centres for wind, solar and green hydrogen while promoting private sector participation in projects.

Collectively, the documents show strong momentum for large‑scale solar deployment, rising PV imports, growing green finance and explicit national strategies, alongside persistent infrastructure and financing challenges.

In summary, Middle Eastern governments are accelerating solar and broader renewable deployment to diversify economies and meet climate objectives, but progress is uneven and constrained by grid, storage and financing challenges.

Conclusion: Middle Eastern countries are pushing large solar and renewable programmes to diversify from oil and advance climate goals, but infrastructure, storage and financing gaps mean outcomes will vary by country.

Middle Eastern countries are actively investing in renewable energy and pursuing economic diversification away from oil.

Title:

Content: China 's orders surge' in the Middle East, hot money flows to more unicorns
Author: External Submission
Published: Updated:
The market and capital of the Middle East, the market and technology of China, are moving in both directions with enthusiasm.
The front foot of Saudi Arabia has just invested 40 billion in high-tech vehicles, and the rear foot of the United Arab Emirates has invested nearly 8 billion in NIO vehicles.
Why are the two oil giants looking at China's new energy?
Original text published in WeChat public account Ruicheng, Hong Kong 01 authorized to reprint.
Hot money from the Middle East is rushing to China for more unicorns.
Middle East out of money, domestic companies out of the project, what did they invest in?
At the same time, the heat of the Middle East market is also attracting attention.
Qatar Energy has promised to continue delivering liquefied natural gas to China for the next 27 years; China ’ s PV is heading out to the Middle East; and the North Gas Field, regarded as the world ’ s largest single gas field by Qatar, will receive a share in the next expansion project.
Chinese companies and the Middle East cooperation has been discussed one after another, what are the opportunities?
NIO Automotive showcases its automotive products in Wuhan in July 2022 (Getty)
01 Why did the new power of car building become a “hot spot ” for oil-producing countries?
On the evening of June 20, NIO announced that it has signed a share subscription agreement with CYVN Holdings, an Abu Dhabi investment institution. CYVN Holdings will make a total strategic investment of about US $1.1 billion (about 7.9 billion RMB) through the targeted issuance of new shares and the transfer of old shares.
What is CYVN Holdings?
It is a majority-owned investment institution by the Abu Dhabi government.
The Chairman of the Authority is the Minister of Finance of Abu Dhabi, and also serves as Vice Chairman of the Abu Dhabi Central Bank, Vice Chairman of the Sovereign Fund ADQ, and Director of the Sovereign Fund ADIA and the oil company ADNOC.
As we all know, Abu Dhabi is the largest of the seven emirates of the United Arab Emirates (UAE), accounting for 86% of the country's total area and 42% of the total population.
Therefore, CYVN Holdings' investment in NIO can be seen as a direct result of the UAE national team, which is an investment with a strong official color.
It means that the UAE believes in our electric vehicle enterprises in China and is optimistic about our development prospects in the field of new energy.
This is the second time in nearly half a month that Middle Eastern countries have extended an olive branch to Chinese new energy vehicle companies.
On June 11, the Saudi Ministry of Investment and China Express signed an agreement worth 21 billion Saudi riyals (about 40 billion RMB) to establish a joint venture in the development, manufacturing and sales of automobiles.
Saudi Arabia and the United Arab Emirates, two Middle East oil-producing countries, are clearly the biggest winners in the era of fuel vehicles, why invest a lot of money in new energy vehicles?
UAE: A flag of the United Arab Emirates flies in the wind on a boat at a Dubai pier on May 22, 2015. (Reuters)
There are two main reasons:
First, the resource curse crisis.
Oil reserves are capped, there is always a day to dig out.
Moreover, the current world energy landscape is also quietly changing, zero carbon background, countries are looking for cleaner solutions, shale gas, solar energy, hydrogen energy and many other energy technologies are continuing to develop.
This may further break the monopoly of the Middle Eastern countries in oil.
Therefore, it is only natural for the Middle East to consider economic restructuring in advance and avoid being abandoned by the times.
Today, most Middle Eastern countries, whether oil producers or non-oil producers, will develop a green economy, develop new energy and renewable energy as the basic strategy of national sustainable development.
For example, the UAE proposed its Energy Strategy 2050 as early as 2017.
In this context, new energy vehicles have naturally become a new investment hotspot and economic growth point for the Middle East market, especially Saudi Arabia and the United Arab Emirates.
Second, China has significant advantages in the field of new energy vehicles.
At present, China is the world's largest new energy vehicle market, whether it is technology, product or supply chain maturity, in the global context, have a prominent influence.
China has many new energy vehicle companies, global power battery leaders, intensive energy supply network, mature new energy vehicle industry chain, the competition has become white-hot intelligent cockpit and automatic driving technology... and these have also created China's new energy vehicles outstanding cost-performance ratio.
Therefore, whether it is investing in Chinese new energy vehicle companies, or introducing Chinese new energy vehicle brands, it is a valuable and potential option for investors in the Middle East.
02 Middle East Capital Flows to China ’ s Unicorn
The Middle East has capital, China has technology and market, such a scenario is not only in the new energy vehicle industry.
In other areas of China, money is pouring in from the Middle East as well.
At the just-held “China-Arab Entrepreneurs Summit ”, Hong Kong Stock Exchange CEO Au Guansheng said that by 2030, the investment capital of the Middle East sovereign fund is expected to increase to 10 trillion US dollars, by which time, more than 10-20%, or 1-2 trillion US dollars of investment, will be invested in China.
Chinese venture capital firms are receiving money from the Middle East.
What kind of investment and opportunities in China do Middle East investors prefer?
Among the top 10 sovereign wealth funds in the world, the Middle East countries occupy four seats.
According to research by alternative asset research organization Preqin, as of 2022, the total asset management scale of sovereign wealth funds in the Middle East reached 3.64 trillion US dollars, accounting for one-third of the total global sovereign wealth funds.
From the public data, it can be seen that since the beginning of 2023, capital from the Middle East is flowing into China, with special attention to cutting-edge technology, biopharmaceuticals, new consumer trends and other areas.
For example, the Public Investment Fund (PIF) of Saudi Arabia, the largest country in the Middle East, submitted a QFII (Qualified Foreign Investor) application to the China Securities and Futures Commission at the end of 2021, and by February 2022, its Hong Kong office had opened.
Previously, PIF has been investing frequently in China.
According to incomplete statistics of the Sovereign Wealth Fund “Saudi Model ”: Globalization and Localization of PIF, published by Gao Hao, director of the Global Family Enterprise Research Center of the School of Wudaokou Finance of Tsinghua University, PIF ’ s total overseas equity investment in 2017-2021 was about US $60.8 billion, of which the total investment in China was about US $12.2 billion, accounting for 20%.
In terms of industry distribution, there are 13 equity investments in China (including additional investment), 4 investments in online education (3 assignments, 1 head to 1), 4 investments in the Internet (1 Little Red Book, 1 word of mouth, 2 road trips), 2 investments in software services (Keep 1, 1 truck), and 1 investment in commercial real estate (WeWork). One pen goes to medical and health care (Ping An Good Doctor) and one pen goes to retail (melon seeds used car).
More recently, there has been a larger flow of money between the Middle East and China.
According to media reports, on the first day of the China-Argentina Entrepreneurs Summit, investment agreements worth 10 billion US dollars (about 71.6 billion yuan) were signed, covering more than 30 industries, including technology, renewable energy, agriculture, real estate, minerals, supply chain, tourism and healthcare.
Outside of the summit, investments continue to take place, such as in late May, when Saudi Aramid-backed venture capital firm Prosperity7 announced that it was investing “tens of millions of yuan ” in Shanghai-based driver-assistance technology startup Hyperview.
In addition to Saudi Arabia, the UAE is also investing heavily in China.
In May this year, the UAE hosted a conference specifically for Chinese entrepreneurs.
According to the country ’ s state media, the country hosted China ’ s “top 50 unicorns ” (startups valued at more than $1 billion) and launched a“ secret Arab-Chinese unicorns investment conference. ”
This is a win-win cooperation.
Over the past few years, governments across the Middle East have announced plans to invest heavily in reshaping their economies to achieve sustainable growth in the future.
Being deeply involved in the transformation of the Middle East is an opportunity that all countries want to fight for, and Chinese companies with valuable infrastructure and manufacturing technologies are naturally among them.
For the Middle East countries, China has technology and a market, and cooperation with China is also one of the key driving forces for the successful transformation of the Middle East countries.
A clear trend is that, based on the strategic planning of the Middle East countries themselves, there is more and more investment in China to meet the needs of the industry.
Many Middle East LPs want to drive local industry development through investment and economic transformation.
Industrial investment has become a "two-way drive" between China and the Middle East.
Xi Jinping and Saudi Crown Prince and Prime Minister Mohammed meet in Riyadh, Saudi capital, in December 2022 (Reuters)
03 Outbound Middle East Heat
At the same time that the capital of the Middle East looks to the "East", the Middle East has become a popular area for Chinese companies to go overseas.
For example, when Europe and the United States began another round of strikes on Chinese PV, Chinese PV companies set their eyes on the Middle East market, which is opening its enthusiastic arms to us.
According to InfoLink data, in 2022, the Middle East imported 11.4 GW of PV modules from China, an increase of 78% compared to 2021.
In the past, the import of components in the Middle East market was mainly Pakistan and Israel, while in 2022, the United Arab Emirates and Saudi Arabia saw significant growth.
Saudi Arabia ’ s imports from China increased tenfold in 2022 compared to 2021, while the UAE grew by 340% year-on-year in 2022, making it the largest component customer in the Middle East.
Moreover, it is not only the supply of components, Chinese photovoltaic companies have been on the move, directly to the Middle East, to strive for the development of photovoltaic solar independent power generation projects in the Middle East.
As mentioned above, on June 11, the first day of the China-Argentina Entrepreneurs Summit, the two countries signed an investment agreement worth $10 billion, which covers the renewable energy sector.
This is a great market opportunity for Chinese photovoltaic companies.
According to the Middle East Photovoltaic Industry Association (MESIA), the low-carbon energy industry in the Middle East and North Africa region will be worth $257 billion by 2030.
Among them, PV accounts for 50% of the project value, which means that the Middle East PV market is nearly trillion.
Opportunities in the Middle East market are not only in the photovoltaic sector, in the case of Saudi Arabia, there are also other rich opportunities in a number of technology sectors, including energy technology.
Examples include new digital infrastructure such as data centers, supply chain solutions for consumer goods, and fintech.
Of course, the rich Middle East is a hot land and a jungle, with countless opportunities and brutal competition.
For example, in addition to establishing cooperative relationships with local companies, enterprises must also build their own teams in the local area, such as the maintenance of relations with the government.
In short, do the brand well or do the local scarce supply chain, but either way, it takes time to accumulate.
Going to the Middle East also requires long-termism.

Title:

Content: Contribution ｜ Explore Hong Kong ’ s role and opportunities in the development of renewable energy in the Middle East
Author: 01 More Voices
Published: Updated:
In recent years, Hong Kong has actively promoted the development of renewable energy and launched a number of related products in the financial market.
In addition, more and more Hong Kong enterprises have also started to participate in the development of this industry, especially in the financial market, and launched a number of financial products to support the development of renewable energy.
At the same time, many countries in the Middle East, such as the United Arab Emirates, Jordan, Saudi Arabia, Oman and Turkey, are also actively engaged in various large-scale projects to promote the development of renewable energy, and expect to see a different energy mix and economic development model in 2030 or 2050.
For Hong Kong, China and other countries, the development opportunities of the Middle East market cannot be ignored, and Hong Kong ’ s participation in this area cannot be underestimated.
Submitted by: Kwong Cheuk-wui
Recently, I had the opportunity to participate in several seminars on economic and energy development in the Middle East, and have in-depth exchanges with government representatives in charge of foreign affairs and trade from various Middle Eastern countries and Azerbaijan.
These exchange experiences provide the author with a wealth of insight.
After many in-depth talks, to understand the interest and momentum of the development of renewable energy in many countries in the Middle East, the author synthesized the information from various parties and came to the following insights: The reason why the major oil producers in the Middle East are actively developing renewable energy is to achieve economic diversification and get rid of dependence on oil and related industries.
They hope to turn the country ’ s surplus renewable energy into new, dependable foreign revenues (i.e., revenues generated from natural resource exports; “Rents ”) through innovative technologies.
For other non-oil producing countries, they want to achieve economic sustainability through the development of renewable energy, reduce dependence on traditional fossil fuels or electricity imports, and convert renewable energy into new external rental income to boost the country ’ s economic development.
From this, it can be seen that the Middle East countries are very concerned about the development of renewable energy, but also hope to complete the energy transformation as soon as possible, and look forward to renewable energy can produce more and greater economic benefits, create new dependent income, promote economic diversification and modernization, but also benefit thousands of people.
As a result, many countries in the Middle East have invested heavily in and promoted energy transformation and clean energy development.
Although many countries have made extraordinary achievements in driving renewable energy development, they also face many challenges.
Jordan, for example, has a wealth of renewable energy resources, including solar, wind, geothermal and bioenergy, as well as state-of-the-art renewable energy laws, regulatory mechanisms and development frameworks.
Earlier this year, Jordan successfully achieved its national roadmap, originally set for 2030, with renewable energy accounting for 31% of total energy.
The Jordanian government also plans to increase this target to 50%, and is committed to building the country into a regional renewable energy development center and exporting environmentally friendly power to neighboring countries to increase the country ’ s foreign revenue.
However, like other Middle Eastern countries, Jordan faces a host of challenges.
These challenges include lagging energy infrastructure, imperfect grid planning, an over-concentration of resources on solar and wind with less focus on geothermal energy, and a lack of energy storage systems and foreign investment.
In addition, there is the debt problem of the national power company.
These difficulties not only affect Jordan ’ s progress in developing renewable energy, but also act as a barrier to modernizing and diversifying the country ’ s economy.
Some Jordanian officials and scholars are concerned about whether the development of renewable energy is progressing as expected.
They are concerned that if the development of renewable energy and its core economic development model are not carried out smoothly, or if the newly set targets are not successfully achieved, the country ’ s economic sustainability will be adversely affected.
At the same time, it can undermine the credibility and governance of the government.
In particular, those political forces that have been opposed to the use of renewable energy to promote economic development and diversification may take the opportunity to launch opposition actions, further endangering the political stability and regional security of the country and the Middle East as a whole.
It is worth noting that these challenges are not only in Jordan, but also in Middle Eastern countries such as Morocco and Egypt.
Other countries such as the United Arab Emirates, Oman, Saudi Arabia and Qatar have also made great efforts to develop solar and wind power in recent years, but in addition to the above concerns and challenges, there are also concerns that the development of renewable energy will have some impact on the high dependence of these countries ’ economies on oil and gas markets, which may affect existing incomes and lead to economic and social instability.
Other factors include the huge demand for capital, the need for foreign technology and talents, the need for talent training, economic feasibility, etc. These are also issues of concern to the officials of these Middle Eastern countries.
These challenges are in fact a valuable development opportunity for Hong Kong.
The key is to make good use of our strengths, especially in the Belt and Road Initiative, to work with the Middle East countries to promote renewable energy and green economy development.
This not only helps these countries diversify their economies, but also creates development opportunities for Hong Kong businesses and governments, and indirectly promotes the development of other industries.
I suggest that Hong Kong can establish cooperation platforms and channels of communication with transnational organizations in the Middle East and North Africa, such as the Arab Parliamentary Union, the Gulf Cooperation Council, the Turkic Parliament and the Arab Maghreb Union.
Such a platform could be used to explore free trade agreements and to help Middle Eastern countries provide services such as finance, advisory, legal, education or training, and energy infrastructure.
This will not only help Hong Kong consolidate its leading position in the professional services sector and the financial sector, but will also directly or indirectly create many development opportunities, especially in Islamic finance.
Finally, Hong Kong can consider providing financial support to the Middle East countries by assisting in the issuance of Islamic financial bonds to promote the development of renewable energy, and can also take the opportunity to develop Islamic finance in Hong Kong as a new financial center outside the Islamic world.
Of course, Hong Kong should not only cooperate with major countries such as Saudi Arabia and the United Arab Emirates or the above-mentioned multinational organizations and platforms, but also consider other regions with development potential and worthy of investment, such as Turkey, Azerbaijan, Morocco, etc.
This diverse collaboration will help Hong Kong expand its international presence and contribute to global sustainability in the renewable energy sector.
The author, Mr Kwong Cheuk-rui, is the Executive Director of the Hong Kong Group of Ideas, a Master of Arts from the Australian National University, and has worked at the Australian Institute of International Affairs.
The article is only the opinion of the author and does not represent the position of Hong Kong 01.
Please email us at 01view @ hk01.com.
Please attach the author ’ s real name and contact details.
If not applicable, without prior notice.

The United Arab Emirates published an Energy Strategy 2050 as early as 2017.

Jordan reached a 31% share of renewable energy earlier than planned and aims to raise that target to 50%.

Saudi Arabia and the United Arab Emirates have made large strategic investments in Chinese new-energy vehicle and related technology companies as part of broader diversification plans.

Middle Eastern sovereign wealth funds are substantial, with total assets of about $3.64 trillion as of 2022, and they are increasing overseas investments.

Chinese photovoltaic companies exported heavily to the Middle East in 2022, with the region importing 11.4 GW of PV modules from China, a 78% increase from 2021.

Saudi Arabia's imports of PV modules from China rose tenfold in 2022 compared with 2021, and UAE imports grew 340% year-on-year in 2022, making the UAE the largest component customer in the Middle East.

The Middle East and North Africa receive between 22% and 26% of the world's solar radiation, giving the region strong natural potential for solar power.

Title:

Content: Global News
The World Today - A pivotal and promising role for the countries of the region in the transition to renewable energy
You are now following the news of a pivotal and promising role waiting for the countries of the region in the transition to renewable energy from the news section of the world and now we leave you with full details
MARCH 3, 2023 02: 16 AM - The Middle East and North Africa (MENA) region has always played a pivotal role in the oil and gas markets, but this role will not stop if the world decides to move to low-emission sources of energy.
According to APRICORP, renewable energy investments are expected to account for 34 percent of electricity investment in the Middle East and North Africa between 2022 and 2026.
According to McKinsey & Company, the Middle East and North Africa receives 22 to 26 percent of the solar radiation energy on Earth, due to its geographical location.
Solar energy is not the only thing that distinguishes the region, as countries in this region are likely to be the source of 10 to 20 percent of the global hydrogen market by 2050, according to Roland Berger.
Hydrogen is likely to generate annual revenues of $120 billion to $200 billion by 2050, and many countries in the region have already started projects to transport and export hydrogen to energy-consuming countries.
The region has about 10 percent of global carbon capture and storage capabilities.
Despite the many challenges that countries in the region must face in this regard, the Middle East and North Africa (MENA) region has the potential to play a pivotal role in the global energy transition.
The most prominent question about green finance comes in this promising region.
Nael Amin, senior director of financial services at Arthur D. Little, said on this week ’ s episode of Dot Gulf ’ s World of Energy program that green finance in the Middle East and North Africa, including green bonds, had reached $3.8 billion in 2020.
This amount, according to Amin, has grown significantly during the year 2022, specifically in 4 countries, Turkey, the Arab Emirates, Egypt and Saudi Arabia, due to the development in the region and increased investments in this sector, as well as providing some important requirements in this sector.
Amin explained that besides financing, the region is witnessing progress in many areas in terms of dealing with environmental factors, which is an attractive factor for investors.
Over the past two years, banks have significantly increased their legislation in this area, as each of the Gulf countries has implemented the necessary standards and requirements to support the business environment in the field of green energy.
There are challenges, according to Amin, the most prominent of which is the data challenge, as he pointed out that banks are approaching the activities of customers to know the necessary data on funded projects, for example, in the case of financing the construction of a building, you must know the amount of energy that will be consumed by this building.
The Gulf States are working and collaborating with each other to understand the framework that must be adopted to develop infrastructure in the field of renewable energy and promote sustainability, which will positively impact and support green investment in general in the region.
We hope that we have succeeded in conveying the full details of a pivotal and promising role that awaits the countries of the region in the transition to renewable energy.
In God ’ s care and protection.
You may also read.

APRICORP projects that renewable energy investments will account for 34% of electricity investment in MENA between 2022 and 2026.

Analysts estimate the region could supply 10–20% of the global hydrogen market by 2050, with hydrogen potentially generating $120–200 billion in annual revenues by then.

The Middle East Photovoltaic Industry Association (MESIA) estimates the MENA low‑carbon energy industry will be worth $257 billion by 2030 and that PV accounts for about half of project value in the region.

Green finance in the region has expanded, with green bonds reaching $3.8 billion in 2020 and growing significantly by 2022 in countries including Turkey, the UAE, Egypt and Saudi Arabia.

Regional industry events such as Middle East Energy and Intersolar Middle East showcase rapid interest in renewables and feature government and industry leaders discussing transition plans.

Title:

Content: 900 exhibitors showcase their innovations at Middle East Energy in Dubai
T + T - normal size
His Excellency Saeed Mohammed Al Tayer, Managing Director and Chief Executive Officer of Dubai Electricity and Water Authority (DEWA), inaugurated yesterday Middle East Energy 2023, the region ’ s leading energy event with over 900 suppliers from around the world showcasing their latest innovations and new technologies to the market.
The 48th edition of the exhibition, which runs until March 9 at the Dubai World Trade Centre and is attended by more than 35,000 energy professionals, will feature an exhibition and three separate conferences, including Intersolar Middle East, the Strategic Conference and Technical Seminars, which explore plans and policies to shape the region ’ s energy sector and inform attendees of its current reality.
During his tour, Al Tayer spoke to a number of leading exhibitors from the region and the world to take a closer look at the latest products and trends in the industry, including Fanar and the German National Pavilion.
Sibylle Bfaff, Consul General of the Federal Republic of Germany in Dubai, stressed that Germany has been keen to participate in the Middle East Energy Show for years, and the German pavilion returns with the largest area in the history of the exhibition this year with the participation of 58 companies, reflecting an increase of 20% compared to last year.
She said: “We were delighted that His Excellency Saeed Al Tayer visited our stand, where he was particularly interested in energy efficiency and sustainability in line with the objectives of the UAE Year of Sustainability.
The UAE is our largest trading partner in the region and is a destination for companies looking to do business in the region and looking forward to the opportunities the region offers. ”
Future Expectations
Nicholas Daher, Principal Energy Analyst at The Economist Intelligence, opened the strategic conference by talking about the current state of energy consumption in the region and the world and the outlook for the future: “Fossil fuels in the Middle East and North Africa account for 98% of total energy consumption, with energy demand in the region expected to grow by 1.8% annually, making it the second fastest growing region in the world after Asia.
The Middle East needs to strike a balance between decarbonising efforts and meeting growing energy demand. ”
Change of Directions
At the Intersolar Middle East Conference, Ahmed Nada, President of the Middle East Solar Industry Association, highlighted the rapidly changing energy trends in the Middle East.
“The cost of solar energy was very high decades ago, and landowners across the region did not trust the vision of a world-leading solar ecosystem, as other fuels such as oil and gas were abundant at the time, ” he said.
But things have changed considerably faster than we can imagine, as the Middle East is now poised to make a real contribution to global energy security by replacing existing resources with renewable resources.
“Several countries like Egypt, Algeria, Libya and Turkey are competing to supply Europe with energy, and this cannot be achieved without coordinated efforts and cooperation.
The Middle East will certainly play a key role in enhancing energy security in the future, especially with regard to renewables.
We have also seen a shift in the supply chain away from reliance on China as the sole source, if the COVID-19 crisis teaches us that no single country can take over supply, prompting Europe to invest heavily in production processes while the United States has enough assets and high demand to rely on itself in domestic manufacturing.
The 48th Middle East Energy Show will see the return of the previously successful Global Buyers Programme, bringing together key industry stakeholders, investors and suppliers from around the world by connecting with more than 100 direct procurement influencers.
Print Email

Speakers at these events note that fossil fuels still dominated regional energy use, with a cited figure of about 98% of total energy consumption in MENA, while demand is projected to grow.

The Economist Intelligence projection cited at the conference estimates regional energy demand growth of about 1.8% per year.

Reports and commentators emphasise practical barriers to faster deployment, including lagging grid infrastructure, limited storage capacity, concentration on a narrow set of technologies, and financing or debt constraints for utilities.

Policy studies from the Mohammed bin Rashid School of Government recommend aligning recovery policies and finance to accelerate a green, resilient transition and note that several regional governments have high public spending and large sovereign funds to support financing.

Title:

Content: 00: 00
Expo 2020 Dubai Today
Mohammed bin Rashid College supports governments in the region to adopt green transformation
T + T - normal size
The Mohammed Bin Rashid School of Government (MBRSG) has published two new regional reports outlining the need for governments in the Middle East to build new tools and policies to advance climate action and accelerate the transition to a low-carbon economy.
The two reports, “Better Recovery: A Green, Resilient and Fair Recovery in the Middle East, ” were jointly conducted with HSBC to produce two regional studies,“ Aligning Policies with Green, Resilient and Fair Recovery Processes in the Middle East, ” and “Financing the Green Transformation in the Middle East. ”
The reports put forward a series of recommendations for eight countries in the Middle East, including Bahrain, Egypt, Kuwait, Iraq, Oman, Qatar, Saudi Arabia and the United Arab Emirates, that could contribute to achieving the United Nations Sustainable Development Goals and supporting the goals of the Paris Climate Agreement.
The first report, “Aligning Policies with Green, Flexible, and Equitable Recovery Processes in the Middle East, ” provides an overview of government spending and fiscal policies for recovery throughout the first year of the COVID19 pandemic, and assesses governments ’ contributions to environmental conservation, resilience, and recovery processes during the pandemic.
Recovery phase
Dr. Ali bin Sebaa Al Marri, Chief Executive Officer of the Mohammed bin Rashid School of Government, said: “The world is in a real recovery phase from the COVID-19 pandemic, and governments in the Middle East have an opportunity to realign development to more committed and environmentally resilient pathways. ”
Development Procedures
Dr. Marie Loumi, non-resident research fellow at the Mohammed bin Rashid School of Government and co-author of the first report in 2020, said: “Low oil prices have affected the ability and willingness of oil producers in the region to spend on development measures, with the first year of the COVID19 pandemic seeing few examples of recovery-oriented green policies in the Middle East.
1. Recommendations
The first report concludes with recommendations for immediate action to put the region on track towards a sustainable, low-carbon future, and calls on governments to adopt best practices in developing and implementing recovery policies.
Mustafa Bayoumi, a sustainability policy researcher at the Mohammed bin Rashid School of Government and co-author of both reports, said: “There are actions governments can take now that will have a significant impact, putting the Middle East at the forefront of the region ’ s clean energy transition. ”
The second report, “Financing the Green Transformation in the Middle East, ” focuses on how the region is financing the green recovery after the pandemic, noting that governments in the Middle East are well positioned in terms of financing the green economy and how to channel it, and according to the World Bank, government spending as a percentage of GDP is high in many of the countries studied.
With an average of 20% of GDP in the region and as high as 28% in Saudi Arabia, compared to the global average of 17%, the Middle East is also home to some of the world ’ s largest sovereign wealth funds.
Pioneering role
Sabreen Rahman, Managing Director and Head of Sustainability, Europe, Middle East and Africa, HSBC Bank, said: “HSBC is playing a leading role in leading the transition to a carbon-neutral global economy, not only by financing it but by helping shape and influence the global policy agenda.
Print Email

The Middle East is both highly exposed to climate impacts and strategically motivated to plan for a post‑oil world, which is prompting governments to pursue renewable projects and economic restructuring.

Title:

Content: The Middle East is on the cusp of an energy revolution.
In the midst of unprecedented climate change
The next morning – follow up:
The world is currently facing extreme weather extremes, from flash floods to heavy rainfall to record-high temperatures and wildfires, all pointing to a single source: climate change driven by carbon emissions in the air.
The Middle East is particularly affected by this situation as it produces and consumes a very large amount of carbon-emitting fossil fuels that in turn lead to climate change.
A UN report by a UN scientific panel described climate change as unprecedented, saying it was definitely people who were responsible for climate change.
He called for drastic cuts in emissions in order to keep global temperature below the limits set out in the 2015 Paris climate agreement.
According to the Intergovernmental Panel on Climate Change (IPCC), “The scope of recent changes in aspects of the climate system as a whole and the current state of many aspects of the climate system are unprecedented for centuries or several millennia. ”
"Based on the available evidence, they have high confidence that atmospheric carbon dioxide concentrations were higher in 2019 than at any point in at least two million years, and that since 1970, global surface temperature has risen faster than any other 50 years in at least the last two millennia."
234 experts from 66 countries wrote the report, the most comprehensive since 2013.
Many of the effects of climate change can no longer be avoided today.
John Alterman, vice president of the Center for Strategic and International Studies, director of the Middle East Program and director of the Brzezinski Chair for Global and Strategic Security, says no region in the world is more immersed in the consequences of global climate change than the Middle East.
The region accounts for 30% of global oil production and oil revenues are the locomotive of government revenues in the region, either because countries produce oil or because countries produce a workforce working in oil-exporting countries and send money home.
Because of oil revenues, Middle Eastern governments can and do employ large numbers of their own population.
As the world moves away from oil as a source of energy, the economies of the Middle East will change profoundly.
John Alterman adds in a report published by the Center for Strategic and International Studies that at the same time the Middle East is vulnerable to the consequences of climate change.
The region is already extremely water-poor, with the Middle East having 9 of the 10 most water-poor countries.
Drought pushes farmers away from their land and the region ’ s many coastal cities are threatened by sea-level rise, and rising summer temperatures increasingly combine with humidity to endanger human survival.
The Middle East is thus rooted on both sides of the issue of climate change.
As global consumption patterns change, the Middle East will change profoundly.
With climate change, the Middle East will also change profoundly.
He adds that developing countries' energy consumption rises sharply as incomes increase and are likely to rely on existing equipment and technology for longer.
While the rich can spend thousands on green products, for much of the world ’ s population oil and gas will remain affordable fuel.
But Middle Eastern governments may not be willing to cut their oil production.
A sustained drop in global consumption, however small, would put pressure on Gulf states to increase output in a bid to drive higher-cost producers out of the market and ensure they are not left with less valuable barrels in the ground when consumption falls further.
Governments across the Middle East have been preparing for a post-oil world for years but are still far from their goals, says John Alterman.
In the Gulf countries, years will be needed to move from the reality of high-productivity, low-wage workers supporting the efforts of low-productivity, high-wage workers.
The energy transition will be important for more than just the Middle East.
Energy security is the driver of much of China ’ s recent investment in the region.
If China decides that its energy security derives from mines in Africa and not from wells in the Middle East, we should expect a shift in Chinese interest and capital.
If there is a more permanent role for oil and gas in the global energy picture, there could be more competition between the United States and China for regional influence.
Finally, Western countries could move away from hydrocarbons for environmental reasons while China and the developing world remain devoted to them for economic reasons.
This could almost be reflected in America abandoning its future role in the Middle East, with China capturing much of this inaction.
Related Articles

Countries such as Egypt are positioning themselves as regional centres for wind, solar and green hydrogen while promoting private sector participation in projects.

Title:

Content: World News
Study reveals the importance of renewable energy in Egypt and the promotion of private sector participation
Thank you for reading the news about a study that reveals the importance of renewable energy in Egypt and enhancing the participation of the private sector.
Egypt has set ambitious targets to increase its production of renewable energy, in line with international agreements such as the Paris Agreement on Climate Change, and this commitment is reflected in the strategic plans developed by Egypt, which define the goals and mechanisms needed to integrate renewable energy into the national grid and increase its reliance on fossil fuels.
Egypt has become one of the most important countries in the region in the fields of (wind energy - solar energy - green hydrogen), and has taken its path to become a regional center for energy trade in the region, and worked to develop policies and measures to promote this and create an attractive climate for investment and private sector participation. In renewable energy projects, setting the regulations for bilateral agreements in the private sector, and announcing the start of receiving registration applications for companies wishing to participate in the first phase of projects to produce electricity from renewable sources as a step to support the exit of the government sector or at least its participation in this vital sector.
You can follow the news of Egypt and the world from our website
Advertisements

Collectively, the documents show strong momentum for large‑scale solar deployment, rising PV imports, growing green finance and explicit national strategies, alongside persistent infrastructure and financing challenges.

In summary, Middle Eastern governments are accelerating solar and broader renewable deployment to diversify economies and meet climate objectives, but progress is uneven and constrained by grid, storage and financing challenges.

Conclusion: Middle Eastern countries are pushing large solar and renewable programmes to diversify from oil and advance climate goals, but infrastructure, storage and financing gaps mean outcomes will vary by country.