The Middle East has historically been dominated by oil and gas but is increasingly investing in renewable energy, especially solar.

Several states have adopted national strategies such as the UAE’s Energy Strategy 2050 and Jordan’s comprehensive energy strategy 2020–2030.

National projects include Egypt’s New Administrative Capital and a regional electrical interconnection linking Egypt, Jordan, Iraq, Saudi Arabia and Cyprus.

Jordan has invested more than $5 billion in energy projects and achieved about 31% renewable share earlier than planned, with a target to reach 50%.

Egypt is expanding large-scale programs in wind, solar and green hydrogen and is promoting private-sector participation.

PV deployment has accelerated: the Middle East imported 11.4 GW of PV modules from China in 2022, with Saudi imports rising tenfold and UAE imports up 340% year‑on‑year.

Industry forecasts value the MENA low‑carbon energy market at $257 billion by 2030, with PV accounting for roughly half of project value.

The region has substantial financial capacity including large sovereign wealth funds and growing green finance (about $3.8 billion in 2020 and rising in 2022).

Policy and fiscal tools are being promoted to align COVID‑19 recovery and public spending with green objectives and to mobilize finance.

Countries pursue renewables to diversify economies, avoid the resource curse, and develop export opportunities in green hydrogen and electricity.

Climate risks are increasing urgency: temperatures have risen faster than the global average, droughts and extreme events are more frequent, and water stress could shrink GDP by 6–14% by 2050.

Governments are also pressing for more international climate finance to support adaptation and resilience alongside mitigation.

Conclusion: Middle Eastern governments are accelerating solar and renewable projects through national strategies, major projects, and finance mobilization to diversify economies and address growing climate risks.

The Middle East has historically been dominated by oil and gas but is increasingly investing in renewable energy, especially solar.

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: 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.
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Several states have adopted national strategies such as the UAE’s Energy Strategy 2050 and Jordan’s comprehensive energy strategy 2020–2030.

Title:

Content: Chairman of the Board of Directors and Editors
I'm sorry.
Mohamad Elbaz
Chairman of the Board of Directors and Editors
I'm sorry.
Mohamad Elbaz
Secretary of the Arab Renewable Energy Authority: Egypt and Jordan make a quantum leap in the uses of clean energy
The Secretary General of the Arab Renewable Energy Authority, Eng. Mohammed Al-Taani, praised the Egyptian-Jordanian relations in all fields, especially with regard to renewable energy, stressing that Egypt and Jordan have pioneering experiences and a qualitative shift in the uses of clean energy as a basis for dealing with climate change.
Relations between Cairo and Amman
Al-Taani said that the relations between Cairo and Amman at the highest levels are historic, pointing out that the Egyptian-Jordanian relations are a model for Arab-Arab relations.
He added that Egypt is an ancient and large country and has many models and experiences in the field of renewable energy and is an Arab model to be followed by its history in this regard, pointing out that Egypt has made great strides in the field of renewable energy and the New Administrative Capital is a model that every Arab is proud of in this matter, in addition to many smart cities launched by Egypt.
He pointed out that Egypt is currently working on launching the infrastructure of environmentally friendly electric vehicles and thus taking pioneering steps in this vital sector, pointing out that Egypt and Jordan will work to export successful models in the renewable energy sector to all Arab countries.
Al-Taani pointed out that the major projects carried out by Egypt for the Arab-European electrical interconnection in cooperation with Jordan represent a qualitative leap in Arab-Arab cooperation and also a pride for all Arab citizens, pointing to the project of electrical interconnection between Egypt, Jordan, Iraq, Saudi Arabia and Cyprus.
He added that there is a trend now to major economic projects and global economic blocs in order to put the Arab world in its rightful place as it possesses energy and great expertise in the renewable energy sector and has honorable models in front of the world.
The Secretary General of the Arab Renewable Energy Authority pointed out that the energy sector in Jordan is one of the main sectors that follow long-term national strategies, the latest of which is the comprehensive national strategy for the energy sector for the year 2020-2030, pointing out that Jordan has spent more than $5 billion on projects and investments in the energy sector and exceeded the global contribution to more than 30% in renewable energy projects.
He explained that the Jordanian national strategy focuses mainly on the energy sector by diversifying the sources and forms of imported energy, developing local energy sources and benefiting from them, and encouraging private investment in energy infrastructure projects to export green energy, whether electricity produced from renewable energy sources or green hydrogen, in order to make Jordan a regional center for green development.
Jordan is first in the Middle East to switch to clean energy
He pointed out that Jordan is the first country in the Middle East in the transition to clean energy, and in terms of citizens' demand for renewable energy and electric vehicles, stressing the need to move to an authentic renewable energy industry in the Arab world instead of importing from abroad and work to strengthen electricity connectivity through smart grids in order to accelerate the energy transition and sustainable development in Arab countries.
It is noteworthy that the sessions of the eighth Arab Forum for Renewable Energy and Energy Efficiency, which was held over two days with the participation of Egypt through a delegation of the Ministry of Electricity, and a large Arab and international, while the delegations on Thursday made field visits to renewable energy projects in Jordan.
The forum focused on the importance of Jordan being a vital center for investment, a center for smart grids, green hydrogen and sustainability, and an important hub for energy transfer between the countries of Asia, Europe and Africa, as well as a specialized workshop for energy storage and electric vehicles and the importance of Arab economic integration in the field of renewable energy.
The sessions included the topics of renewable energy and sustainability, the role of women in the era of renewable energy, climate and natural factors affecting the efficiency of photovoltaic power plants, renewable energy strategy in the Arab countries, energy management and energy funds, green economy strategy in Jordan, renewable energy policies and green economy in the Arab world, and renewable energy prospects in the Arab countries.
Many Arab countries presented several environmentally friendly projects, while Egypt presented its experience in smart and environmentally friendly cities such as the administrative capital and others, as well as projects to establish power stations such as gas stations for electric cars, which began to appear in the Egyptian market in cooperation with all government and private sectors.

National projects include Egypt’s New Administrative Capital and a regional electrical interconnection linking Egypt, Jordan, Iraq, Saudi Arabia and Cyprus.

Jordan has invested more than $5 billion in energy projects and achieved about 31% renewable share earlier than planned, with a target to reach 50%.

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.

Egypt is expanding large-scale programs in wind, solar and green hydrogen and is promoting private-sector participation.

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
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PV deployment has accelerated: the Middle East imported 11.4 GW of PV modules from China in 2022, with Saudi imports rising tenfold and UAE imports up 340% year‑on‑year.

Industry forecasts value the MENA low‑carbon energy market at $257 billion by 2030, with PV accounting for roughly half of project value.

The region has substantial financial capacity including large sovereign wealth funds and growing green finance (about $3.8 billion in 2020 and rising in 2022).

Policy and fiscal tools are being promoted to align COVID‑19 recovery and public spending with green objectives and to mobilize finance.

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.
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Countries pursue renewables to diversify economies, avoid the resource curse, and develop export opportunities in green hydrogen and electricity.

Climate risks are increasing urgency: temperatures have risen faster than the global average, droughts and extreme events are more frequent, and water stress could shrink GDP by 6–14% by 2050.

Title:

Content: The Middle East is waking up to massive destruction caused by climate change.
The Middle East is waking up to massive destruction caused by climate change.
The countries of the Middle East and Africa are paying the largest tax on climate change, although they have not contributed much to the acceleration of the occurrence of climate coups that threaten to cause mass destruction to societies, economies and agricultural infrastructure, so they began to move to impose at the next climate conference the fulfillment of their financial pledges to reduce the risks caused by climate change.
CAIRO – Temperatures in the Middle East have risen much faster than the global average over the past three decades.
Precipitation has also decreased, and experts predict that the world will experience droughts with greater frequency and severity.
The Middle East is one of the most vulnerable regions of the world to the effects of climate change, and the effects are already emerging.
In Iraq, intense and frequent sandstorms have choked cities this year, shutting down trade and leaving thousands in hospitals.
Soil salinity in Egypt ’ s Nile Delta is destroying important agricultural land.
In Afghanistan, drought has helped fuel the migration of young people from their villages in search of jobs.
Temperatures in some parts of the region in recent weeks have exceeded 50 degrees Celsius.
This year ’ s annual UN climate change conference, known as COP27, will be held in Egypt in November and will highlight the region.
Governments across the Middle East are waking up to the dangers of climate change, especially the damage it is already inflicting on their economies.
Lama El Hitto, an environmental climate change consultant who has worked with the World Bank and specialises in the Middle East and North Africa, said: “We are seeing the impacts right in front of us.
These effects are not something that will affect us in 9 or 10 years.
More and more countries are beginning to realize that action is necessary. ”
Karim El Guindi: Changes increase social tensions and affect security
Egypt, Morocco and other countries in the region are ramping up clean energy initiatives, but their top priority at COP27 is pressing for more international funding to help them deal with the risks they already face from climate change.
One of the reasons for the Middle East ’ s weakness is the lack of margin to mitigate the blow to millions of people as temperatures accelerate, as the region already records high temperatures and has limited water resources even under normal conditions.
In a report released this year, the International Monetary Fund (IMF) noted that Middle Eastern governments have limited capacity to adapt.
Economies and infrastructure are weak, and regulations often remain unenforced.
Poverty is widespread, making job creation a priority at the expense of climate protection.
As in Egypt, autocratic governments restrict civil society, hampering an important tool in engaging the public on environmental and climate issues.
At the same time, developed countries are pressuring the Middle East and elsewhere to make emission reductions, even as they themselves renege on their promises.
As the region warms and dries up, the United Nations has warned that crop production in the Middle East could fall by 30 percent by 2025.
The region is expected to lose between 6 and 14 percent of its GDP by 2050 due to water scarcity, according to a World Bank report which confirmed that rainfall in Egypt has fallen by 22 percent over the past 30 years.
Droughts are expected to become more frequent and severe.
The eastern Mediterranean recently experienced its worst drought in 900 years, according to NASA.
This is a major blow to countries such as Syria and Lebanon, where agriculture depends on rainfall.
Water demand in Jordan and the Gulf states is putting pressure on aquifers.
In Iraq, increased drought has caused an increase in sand storms.
At the same time, rising water and air temperatures are increasing the frequency of extreme and often devastating weather events, such as the deadly floods that frequently hit Sudan and Afghanistan.
Climate damage can have serious social consequences.
Karim El Guindi, associate fellow of the Environment and Society Program at the UK ’ s Royal Institute of International Affairs, Chatham House, said many of those who have lost the livelihoods they once earned in agriculture or tourism will move to cities in search of jobs.
Al-Jundi, also a non-resident researcher at the Middle East Institute, believes that this is likely to lead to increased urban unemployment, burdening social services, and could increase social tensions and affect security.
But adapting infrastructure and economies to cope with the damage will be very expensive and will require the equivalent of 3.3 percent of the region ’ s GDP each year over the next 10 years, the International Monetary Fund estimates.
Spending must go to everything from creating more efficient water use systems and new farming methods to building coastal protection, strengthening social safety nets, and improving awareness campaigns.
Therefore, one of the top priorities for the Middle East and other developing countries at this year ’ s COP27 is to press the United States, Europe and wealthier nations to keep their promises to provide them with billions in climate finance.
The developed countries have not yet fulfilled those promises.
Most of the money it has provided has gone to help poor countries pay for reducing greenhouse gas emissions in order to “mitigate, ” in UN terminology, rather than“ adapt. ”
For this year ’ s COP27, the main theme repeated by UN officials, Egyptian hosts and climate activists is the implementation of commitments.
The gathering aims to push countries to clarify how to achieve promised emission reduction targets and reach deeper cuts, with experts saying the targets will lead to catastrophic levels of warming if they remain the same.
The Middle East is one of the most vulnerable regions of the world to the effects of climate change, and the effects are already beginning to appear.
Developing countries also want wealthier nations to show how they will deliver on their promises from the recent COPE conference to provide $500 billion in climate finance over the next five years and ensure that at least half of that funding is dedicated to adaptation rather than mitigation.
However, global events threaten to undermine the momentum from COP26.
In terms of cutting emissions, the sharp rise in global energy prices and the war in Ukraine have prompted some European countries to return to using coal for power generation despite insisting it is only a temporary step.
The Middle East also has many countries whose economies depend on fossil fuel resources, such as Saudi Arabia and other Gulf states, and even Egypt with their increasing production of natural gas.
Continued inflation and the prospect of a recession could make major countries more reluctant to make climate finance commitments.
With international officials often focusing on cutting emissions, it must be remembered that countries in Africa, the Middle East and elsewhere in the developing world have not contributed significantly to climate change, yet bear the brunt of its effects.
“We need to talk about funding to adapt to a problem they didn ’ t cause. ”
arabic

Governments are also pressing for more international climate finance to support adaptation and resilience alongside mitigation.

Conclusion: Middle Eastern governments are accelerating solar and renewable projects through national strategies, major projects, and finance mobilization to diversify economies and address growing climate risks.


The Middle East is increasingly investing in renewable energy, especially solar, as part of national strategies to diversify economies away from oil.

The region has very high solar potential, receiving about 22–26 percent of the solar radiation energy on Earth.

In 2022, the Middle East imported 11.4 GW of photovoltaic modules from China, a 78% increase over 2021.

Saudi Arabia's imports of PV components from China increased tenfold in 2022 compared to 2021, and the United Arab Emirates' imports grew by 340% in 2022, making the UAE the largest component customer in the Middle East.

Industry estimates indicate a large commercial opportunity: MESIA projects the low‑carbon energy industry in MENA could be worth about $257 billion by 2030, with photovoltaic projects representing roughly half of that project value.

APRICORP expects renewable energy investments to account for around 34 percent of electricity investment in the Middle East and North Africa between 2022 and 2026.

Several national and regional projects are underway, including electrical interconnection projects linking Egypt, Jordan, Iraq, Saudi Arabia and Cyprus.

Egypt has advanced renewable and smart‑city projects such as the New Administrative Capital and is working to expand electric vehicle infrastructure.

Jordan has spent more than $5 billion on energy projects, adopted a national energy strategy for 2020–2030, and seeks to become a regional center for green development and energy exports.

Jordan previously achieved a roadmap target with renewable energy accounting for about 31 percent of total energy and the government plans to increase that target toward 50 percent.

Egypt, Jordan and other countries are developing regulatory frameworks and measures to encourage private sector participation in renewable energy projects.

Gulf governments and banks have increased standards and legislation to support green finance, with the region recording about $3.8 billion in green finance in 2020 and notable growth in 2022 in Turkey, the UAE, Egypt and Saudi Arabia.

The Middle East has substantial financing capacity through large sovereign wealth funds and relatively high government spending, with average spending around 20 percent of GDP in studied countries and up to 28 percent in Saudi Arabia, which supports the potential to fund the green transition.

Some major oil‑producing countries are already investing in new energy sectors and technologies, including large investments in electric vehicle manufacturing and strategic partnerships with Chinese firms.

Chinese photovoltaic companies are expanding into the Middle East and pursuing independent solar power generation projects in the region.

Climate impacts in the Middle East—faster‑rising temperatures, reduced precipitation, more frequent droughts, sandstorms and damage to agriculture and water resources—are already evident and are driving calls for both adaptation finance and cleaner energy pathways.

International climate forums, including COP27 hosted in Egypt, have highlighted the region's urgent need for adaptation funding and stronger implementation of emission‑reduction commitments.

The region also has opportunities beyond solar, with analyses suggesting Middle Eastern countries could supply 10–20 percent of the global hydrogen market by 2050, generate $120–200 billion annually from hydrogen, and account for about 10 percent of global carbon capture and storage capacity.

Common challenges include imperfect grid planning, limited energy storage, infrastructure gaps, large upfront capital requirements, dependence on foreign technology and talent, and utility debt issues in some countries.

Overall, Middle Eastern countries are rapidly expanding solar and broader renewable projects driven by high solar potential, national diversification strategies, growing green finance and regional partnerships, while facing infrastructure, storage and financing challenges that must be addressed to meet economic and climate goals.

The Middle East is increasingly investing in renewable energy, especially solar, as part of national strategies to diversify economies 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 region has very high solar potential, receiving about 22–26 percent of the solar radiation energy on Earth.

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.

In 2022, the Middle East imported 11.4 GW of photovoltaic modules from China, a 78% increase over 2021.

Saudi Arabia's imports of PV components from China increased tenfold in 2022 compared to 2021, and the United Arab Emirates' imports grew by 340% in 2022, making the UAE the largest component customer in the Middle East.

Industry estimates indicate a large commercial opportunity: MESIA projects the low‑carbon energy industry in MENA could be worth about $257 billion by 2030, with photovoltaic projects representing roughly half of that project value.

APRICORP expects renewable energy investments to account for around 34 percent of electricity investment in the Middle East and North Africa between 2022 and 2026.

Several national and regional projects are underway, including electrical interconnection projects linking Egypt, Jordan, Iraq, Saudi Arabia and Cyprus.

Title:

Content: Chairman of the Board of Directors and Editors
I'm sorry.
Mohamad Elbaz
Chairman of the Board of Directors and Editors
I'm sorry.
Mohamad Elbaz
Secretary of the Arab Renewable Energy Authority: Egypt and Jordan make a quantum leap in the uses of clean energy
The Secretary General of the Arab Renewable Energy Authority, Eng. Mohammed Al-Taani, praised the Egyptian-Jordanian relations in all fields, especially with regard to renewable energy, stressing that Egypt and Jordan have pioneering experiences and a qualitative shift in the uses of clean energy as a basis for dealing with climate change.
Relations between Cairo and Amman
Al-Taani said that the relations between Cairo and Amman at the highest levels are historic, pointing out that the Egyptian-Jordanian relations are a model for Arab-Arab relations.
He added that Egypt is an ancient and large country and has many models and experiences in the field of renewable energy and is an Arab model to be followed by its history in this regard, pointing out that Egypt has made great strides in the field of renewable energy and the New Administrative Capital is a model that every Arab is proud of in this matter, in addition to many smart cities launched by Egypt.
He pointed out that Egypt is currently working on launching the infrastructure of environmentally friendly electric vehicles and thus taking pioneering steps in this vital sector, pointing out that Egypt and Jordan will work to export successful models in the renewable energy sector to all Arab countries.
Al-Taani pointed out that the major projects carried out by Egypt for the Arab-European electrical interconnection in cooperation with Jordan represent a qualitative leap in Arab-Arab cooperation and also a pride for all Arab citizens, pointing to the project of electrical interconnection between Egypt, Jordan, Iraq, Saudi Arabia and Cyprus.
He added that there is a trend now to major economic projects and global economic blocs in order to put the Arab world in its rightful place as it possesses energy and great expertise in the renewable energy sector and has honorable models in front of the world.
The Secretary General of the Arab Renewable Energy Authority pointed out that the energy sector in Jordan is one of the main sectors that follow long-term national strategies, the latest of which is the comprehensive national strategy for the energy sector for the year 2020-2030, pointing out that Jordan has spent more than $5 billion on projects and investments in the energy sector and exceeded the global contribution to more than 30% in renewable energy projects.
He explained that the Jordanian national strategy focuses mainly on the energy sector by diversifying the sources and forms of imported energy, developing local energy sources and benefiting from them, and encouraging private investment in energy infrastructure projects to export green energy, whether electricity produced from renewable energy sources or green hydrogen, in order to make Jordan a regional center for green development.
Jordan is first in the Middle East to switch to clean energy
He pointed out that Jordan is the first country in the Middle East in the transition to clean energy, and in terms of citizens' demand for renewable energy and electric vehicles, stressing the need to move to an authentic renewable energy industry in the Arab world instead of importing from abroad and work to strengthen electricity connectivity through smart grids in order to accelerate the energy transition and sustainable development in Arab countries.
It is noteworthy that the sessions of the eighth Arab Forum for Renewable Energy and Energy Efficiency, which was held over two days with the participation of Egypt through a delegation of the Ministry of Electricity, and a large Arab and international, while the delegations on Thursday made field visits to renewable energy projects in Jordan.
The forum focused on the importance of Jordan being a vital center for investment, a center for smart grids, green hydrogen and sustainability, and an important hub for energy transfer between the countries of Asia, Europe and Africa, as well as a specialized workshop for energy storage and electric vehicles and the importance of Arab economic integration in the field of renewable energy.
The sessions included the topics of renewable energy and sustainability, the role of women in the era of renewable energy, climate and natural factors affecting the efficiency of photovoltaic power plants, renewable energy strategy in the Arab countries, energy management and energy funds, green economy strategy in Jordan, renewable energy policies and green economy in the Arab world, and renewable energy prospects in the Arab countries.
Many Arab countries presented several environmentally friendly projects, while Egypt presented its experience in smart and environmentally friendly cities such as the administrative capital and others, as well as projects to establish power stations such as gas stations for electric cars, which began to appear in the Egyptian market in cooperation with all government and private sectors.

Egypt has advanced renewable and smart‑city projects such as the New Administrative Capital and is working to expand electric vehicle infrastructure.

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.
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Jordan has spent more than $5 billion on energy projects, adopted a national energy strategy for 2020–2030, and seeks to become a regional center for green development and energy exports.

Jordan previously achieved a roadmap target with renewable energy accounting for about 31 percent of total energy and the government plans to increase that target toward 50 percent.

Egypt, Jordan and other countries are developing regulatory frameworks and measures to encourage private sector participation in renewable energy projects.

Gulf governments and banks have increased standards and legislation to support green finance, with the region recording about $3.8 billion in green finance in 2020 and notable growth in 2022 in Turkey, the UAE, Egypt and Saudi Arabia.

The Middle East has substantial financing capacity through large sovereign wealth funds and relatively high government spending, with average spending around 20 percent of GDP in studied countries and up to 28 percent in Saudi Arabia, which supports the potential to fund the green transition.

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Expo 2020 Dubai Today
Mohammed bin Rashid College supports governments in the region to adopt green transformation
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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.
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Some major oil‑producing countries are already investing in new energy sectors and technologies, including large investments in electric vehicle manufacturing and strategic partnerships with Chinese firms.

Chinese photovoltaic companies are expanding into the Middle East and pursuing independent solar power generation projects in the region.

Climate impacts in the Middle East—faster‑rising temperatures, reduced precipitation, more frequent droughts, sandstorms and damage to agriculture and water resources—are already evident and are driving calls for both adaptation finance and cleaner energy pathways.

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Content: The Middle East is waking up to massive destruction caused by climate change.
The Middle East is waking up to massive destruction caused by climate change.
The countries of the Middle East and Africa are paying the largest tax on climate change, although they have not contributed much to the acceleration of the occurrence of climate coups that threaten to cause mass destruction to societies, economies and agricultural infrastructure, so they began to move to impose at the next climate conference the fulfillment of their financial pledges to reduce the risks caused by climate change.
CAIRO – Temperatures in the Middle East have risen much faster than the global average over the past three decades.
Precipitation has also decreased, and experts predict that the world will experience droughts with greater frequency and severity.
The Middle East is one of the most vulnerable regions of the world to the effects of climate change, and the effects are already emerging.
In Iraq, intense and frequent sandstorms have choked cities this year, shutting down trade and leaving thousands in hospitals.
Soil salinity in Egypt ’ s Nile Delta is destroying important agricultural land.
In Afghanistan, drought has helped fuel the migration of young people from their villages in search of jobs.
Temperatures in some parts of the region in recent weeks have exceeded 50 degrees Celsius.
This year ’ s annual UN climate change conference, known as COP27, will be held in Egypt in November and will highlight the region.
Governments across the Middle East are waking up to the dangers of climate change, especially the damage it is already inflicting on their economies.
Lama El Hitto, an environmental climate change consultant who has worked with the World Bank and specialises in the Middle East and North Africa, said: “We are seeing the impacts right in front of us.
These effects are not something that will affect us in 9 or 10 years.
More and more countries are beginning to realize that action is necessary. ”
Karim El Guindi: Changes increase social tensions and affect security
Egypt, Morocco and other countries in the region are ramping up clean energy initiatives, but their top priority at COP27 is pressing for more international funding to help them deal with the risks they already face from climate change.
One of the reasons for the Middle East ’ s weakness is the lack of margin to mitigate the blow to millions of people as temperatures accelerate, as the region already records high temperatures and has limited water resources even under normal conditions.
In a report released this year, the International Monetary Fund (IMF) noted that Middle Eastern governments have limited capacity to adapt.
Economies and infrastructure are weak, and regulations often remain unenforced.
Poverty is widespread, making job creation a priority at the expense of climate protection.
As in Egypt, autocratic governments restrict civil society, hampering an important tool in engaging the public on environmental and climate issues.
At the same time, developed countries are pressuring the Middle East and elsewhere to make emission reductions, even as they themselves renege on their promises.
As the region warms and dries up, the United Nations has warned that crop production in the Middle East could fall by 30 percent by 2025.
The region is expected to lose between 6 and 14 percent of its GDP by 2050 due to water scarcity, according to a World Bank report which confirmed that rainfall in Egypt has fallen by 22 percent over the past 30 years.
Droughts are expected to become more frequent and severe.
The eastern Mediterranean recently experienced its worst drought in 900 years, according to NASA.
This is a major blow to countries such as Syria and Lebanon, where agriculture depends on rainfall.
Water demand in Jordan and the Gulf states is putting pressure on aquifers.
In Iraq, increased drought has caused an increase in sand storms.
At the same time, rising water and air temperatures are increasing the frequency of extreme and often devastating weather events, such as the deadly floods that frequently hit Sudan and Afghanistan.
Climate damage can have serious social consequences.
Karim El Guindi, associate fellow of the Environment and Society Program at the UK ’ s Royal Institute of International Affairs, Chatham House, said many of those who have lost the livelihoods they once earned in agriculture or tourism will move to cities in search of jobs.
Al-Jundi, also a non-resident researcher at the Middle East Institute, believes that this is likely to lead to increased urban unemployment, burdening social services, and could increase social tensions and affect security.
But adapting infrastructure and economies to cope with the damage will be very expensive and will require the equivalent of 3.3 percent of the region ’ s GDP each year over the next 10 years, the International Monetary Fund estimates.
Spending must go to everything from creating more efficient water use systems and new farming methods to building coastal protection, strengthening social safety nets, and improving awareness campaigns.
Therefore, one of the top priorities for the Middle East and other developing countries at this year ’ s COP27 is to press the United States, Europe and wealthier nations to keep their promises to provide them with billions in climate finance.
The developed countries have not yet fulfilled those promises.
Most of the money it has provided has gone to help poor countries pay for reducing greenhouse gas emissions in order to “mitigate, ” in UN terminology, rather than“ adapt. ”
For this year ’ s COP27, the main theme repeated by UN officials, Egyptian hosts and climate activists is the implementation of commitments.
The gathering aims to push countries to clarify how to achieve promised emission reduction targets and reach deeper cuts, with experts saying the targets will lead to catastrophic levels of warming if they remain the same.
The Middle East is one of the most vulnerable regions of the world to the effects of climate change, and the effects are already beginning to appear.
Developing countries also want wealthier nations to show how they will deliver on their promises from the recent COPE conference to provide $500 billion in climate finance over the next five years and ensure that at least half of that funding is dedicated to adaptation rather than mitigation.
However, global events threaten to undermine the momentum from COP26.
In terms of cutting emissions, the sharp rise in global energy prices and the war in Ukraine have prompted some European countries to return to using coal for power generation despite insisting it is only a temporary step.
The Middle East also has many countries whose economies depend on fossil fuel resources, such as Saudi Arabia and other Gulf states, and even Egypt with their increasing production of natural gas.
Continued inflation and the prospect of a recession could make major countries more reluctant to make climate finance commitments.
With international officials often focusing on cutting emissions, it must be remembered that countries in Africa, the Middle East and elsewhere in the developing world have not contributed significantly to climate change, yet bear the brunt of its effects.
“We need to talk about funding to adapt to a problem they didn ’ t cause. ”
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International climate forums, including COP27 hosted in Egypt, have highlighted the region's urgent need for adaptation funding and stronger implementation of emission‑reduction commitments.

The region also has opportunities beyond solar, with analyses suggesting Middle Eastern countries could supply 10–20 percent of the global hydrogen market by 2050, generate $120–200 billion annually from hydrogen, and account for about 10 percent of global carbon capture and storage capacity.

Common challenges include imperfect grid planning, limited energy storage, infrastructure gaps, large upfront capital requirements, dependence on foreign technology and talent, and utility debt issues in some countries.

Overall, Middle Eastern countries are rapidly expanding solar and broader renewable projects driven by high solar potential, national diversification strategies, growing green finance and regional partnerships, while facing infrastructure, storage and financing challenges that must be addressed to meet economic and climate goals.