"One of the main goals of the Middle East Green initiative is to achieve net zero emissions by investing in clean and renewable energy projects, such as solar energy, as seen in the UAE's investment of Dh600 billion in clean energy projects over the next three decades."

The UAE is a Middle East country that is proactively developing its renewable energy sector, with significant investments in global renewable energy projects.

Climate change is impacting the Middle East through drought, sea-level rise, and rising temperatures, affecting the region's water-poor countries and threatening human survival.

The UAE, Egypt, Jordan, and Morocco are among the countries in the Middle East that are investing in solar and wind energy as part of their energy transition strategies.

The Middle East Green initiative was launched by a kingdom in the region, which organized a summit attended by prominent international figures, aiming to promote environmental initiatives and reach net zero carbon emissions by 2060.

"Egypt is investing in solar energy as part of its energy transition strategy, aiming to derive 42 per cent of its electricity mix from renewable sources by 2035."

The Benban Solar Park in Egypt has a capacity of 1.8 GW.

"Egypt is investing in renewable energy, aiming to derive 42% of its electricity mix from renewable sources by 2035, as part of the growing trend of renewable energy investment in the Middle East."

"Saudi Arabia's Public Investment Fund is investing in Lucid Group, a Tesla competitor, as part of the country's efforts to diversify away from fossil fuels and invest in alternative energy sources, including electric vehicles."

Gulf Cooperation Council countries are transitioning to clean and renewable energy, with a focus on solar energy, as evidenced by significant investments in solar projects and goals to achieve net zero emissions.

The United Arab Emirates aims to generate 50% of its electricity from renewable and nuclear energy by 2050.

"One of the main goals of the Middle East Green initiative is to achieve net zero emissions by investing in clean and renewable energy projects, such as solar energy, as seen in the UAE's investment of Dh600 billion in clean energy projects over the next three decades."

Title:

Content: World Future Energy Summit to focus on providing ‘sustainability blueprint’

The three-day event will be held at the Abu Dhabi National Exhibition Centre from January 16 to January 18

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The 2023 World Future Energy Summit aims to provide a “crucial sustainability blueprint” amid a global focus on the energy transition and measures to boost investment in the renewables sector.

Energy industry leaders and policymakers from around the world will participate in the three-day event at the Abu Dhabi National Exhibition Centre from January 16 to January 18, organisers said on Wednesday.

The summit is the centrepiece of Abu Dhabi Sustainability Week, a global initiative championed by the UAE and Abu Dhabi's clean energy company Masdar to hasten sustainable development and advance economic, social, and environmental progress.

“This event has evolved just as the energy sector and our economies are transitioning,” said Suhail Al Mazrouei, Minister of Energy and Infrastructure.

“It has now morphed into the Middle East’s most important industry gathering, of which clean energy and infrastructure are key components.”

Countries in the Middle East such as the UAE, Saudi Arabia, Jordan, Oman and Egypt are boosting investment in the clean energy sector.

The UAE is investing Dh600 billion ($163.5bn) in clean and renewable energy projects over the next three decades as it aims to achieve net zero emissions by 2050.

It is building the world’s largest solar plant with a capacity of two gigawatts in Abu Dhabi's Al Dhafra region that is expected to be ready next year, as well as the Mohammed bin Rashid Solar Park in Dubai with a capacity of five gigawatts.

Saudi Arabia, the Arab world’s largest economy, also announced a number of new renewable energy projects as it seeks to become carbon neutral by 2060.

Egypt, the most populous country in the Arab world, aims to derive 42 per cent of its electricity mix from renewable sources by 2035. The North African country is hosting Cop27 next month.

“This newly transitioned event profile is in the right place at the right time, underlining a much-needed shift towards reaching our clean energy goals, as well as achieving sustainable governance and adopting consumption and [the] production of natural energy methods that ensure the quality of life for current and future generations,” Mr Al Mazrouei said.

Renewable energy investment continued to rise amid green transition efforts globally. Capital investments in renewables are set to surpass oil and gas spending for the first time in 2022 as high power prices prompt countries to further diversify their energy mix, according to a report by Rystad Energy.

Investment in renewable energy is set to hit $494bn in 2022, outstripping upstream oil and gas spending at $446bn for the year, the Oslo-based energy consultancy said this month.

In addition to the focus on energy, water, eco-waste, solar, smart cities, climate and the environment, next year's event will also preside over the launch of a dedicated hydrogen innovation centre as demand for the clean fuel picks up globally amid green transition efforts, organisers said.

The event takes place at a time when the UAE is preparing to host Cop28 next year.

Updated: October 19, 2022, 10:41 AM
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The UAE is a Middle East country that is proactively developing its renewable energy sector, with significant investments in global renewable energy projects.

Title:

Content: Monday 7th November 2022 Abu Dhabi UAE
Prayer times
Today 's Issue
Today 's Issue
United Arab Emirates
Sultan Al Jaber: UAE believes in the importance of including everyone in climate action
Sultan Al Jaber: UAE believes in the importance of including everyone in climate action
November 7, 2022 02: 58
Abu Dhabi (Union)
H.E. Dr. Sultan Ahmed Al Jaber, Minister of Industry and Advanced Technology and UAE Special Envoy for Climate Change, stressed that the UAE, in line with the leadership ’ s vision, is firmly convinced of the importance of including everyone in climate action to accelerate economic growth for all countries.
“Climate action is an opportunity to diversify both the economy and the energy mix, accelerating new growth sectors in clean energy and creating additional jobs for future generations, ” he said.
This came in an interview with His Excellency ahead of the UAE ’ s participation in the 27th session of the Conference of the Parties to the United Nations Framework Convention on Climate Change (COP27), which will be hosted in the Egyptian city of Sharm el-Sheikh from 6 to 18 November.
He pointed out that in light of the close partnership with Egypt and coinciding with the 50th anniversary of the establishment of bilateral relations, the UAE supports the Egyptian presidency of the Conference of the Parties (COP27) and focuses on linking the results and outputs with the COP28 hosted by the UAE in 2023.
His Excellency said: “The UAE ’ s priorities at COP27 are to communicate and dialogue with the 190 countries participating in the event, to accommodate their aspirations, and to contribute to the global dialogue to find effective solutions to address the consequences of climate change and implement them optimally. ”
What are the main objectives of the UAE at COP27?
Our primary goal is to contribute to practical solutions to mitigate and adapt to climate change, and to affirm our commitment to building a low-emission economy to create sustainable economic and social development opportunities for all, especially in the South.
We seek to highlight the UAE ’ s decades-long track record in climate diplomacy, climate action and delivering practical climate solutions, especially in developing countries most vulnerable to the impacts of climate change.
We also seek to build capacity and enhance collaboration ahead of COP28 in the UAE, with the aim of identifying practical, ambitious and inclusive pathways for climate action that benefit billions of people around the world.
His Highness Sheikh Mohamed bin Zayed Al Nahyan, President of the UAE, stressed that we cannot ignore facts, but must face them firmly, not ignore challenges, but deal with them with a positive mind and work to find appropriate solutions in cooperation with partners who share the same visions, ideas and trends.
Emission reduction
- Can you tell us more about the UAE ’ s track record in climate action and how it can benefit the world by adopting a participatory and inclusive approach?
Our commitment to reducing emissions and promoting climate action is not new: several decades ago, the founding father, Sheikh Zayed bin Sultan Al Nahyan, laid the foundations of sustainability to preserve and preserve the environment and natural resources.
We are the first country in the Middle East and North Africa to sign and ratify the Paris Agreement, and the first in the region to commit to achieving climate neutrality by 2050.
Today, the country is home to three of the world ’ s largest and least expensive solar power plants and is the first country in the region to implement carbon capture, use and storage technology on a large industrial scale.
We have also set new records for the most cost-effective wind power generation locally and internationally.
We are the first country in the region to use peaceful nuclear energy.
The UAE also has a leading role in exploring clean alternatives such as hydrogen.
We were able to record the lowest methane densities in the energy sector two decades before the global pledge called for a gradual reduction of methane.
In September this year, the UAE announced an updated version of the second edition of its Nationally Determined Contributions (NDCs), with the aim of reducing carbon emissions by 31% by 2030.
We work with all stakeholders around the world to promote climate action, believing that addressing the impacts of climate change requires practical, realistic and inclusive solutions.
Currently, the UAE is one of the most invested countries in global renewable energy projects; we have invested $50 billion in renewable energy projects in 70 countries, including 31 of the most vulnerable developing island countries to climate change.
We committed to investing an additional $50 billion over the next 10 years in many countries to accelerate the transition to clean energy.
In addition, the UAE and the United States recently signed a partnership to invest in clean energy and remove emissions from the energy that the world currently depends on, while increasing investment in emission-free energy sources in the two countries and emerging economies around the world.
The partnership aims to catalyse $100 billion in financing and support and the implementation of 100 GW clean energy projects in the UAE, the United States and emerging economies by 2035.
This year, the UAE launched Union 7, an innovative program to secure financing for renewable energy projects in Africa, which aims to provide clean electricity to 100 million people by 2035.
We believe that this increased climate finance for communities most vulnerable to climate change – especially to support resilience and secure food and water supplies – is also an investment in stability and peace.
We have also empowered communities, through initiatives such as the Zayed Sustainability Prize; and today we are engaged in supporting future generations and preparing them for the jobs of the future, through institutions such as the Mohammed bin Zayed University for Artificial Intelligence.
Planting 100 million trees by 2030
We have pledged to plant 100 million mangroves by 2030, a programme led by the Environment Agency – Abu Dhabi (EAD) to promote nature-based solutions to mitigate climate change, protect biodiversity and contribute to ‘ natural carbon stores ’.
We also support the 30 / 30 biodiversity target to protect 30% of land and 30% of marine areas by 2030, as well as nature-based solutions to address the interconnected climate and biodiversity crises.
Your Excellency, you have recently been keen to highlight the world ’ s need for more energy with less emissions.
Can you explain this in more detail in the context of the UAE ’ s energy transition strategy?
The world population is expected to rise soon to 9.7 billion people by 2050.
To meet the needs of this number, we will have to produce 30% more energy than we produce today.
If the basic energy needs of billions of people around the world are not met, economies will slow down, severely affecting the resources needed to support climate action and the energy transition.
In addition to meeting energy needs through the capital assets and infrastructure on which the world currently depends, we must focus on reducing emissions and accelerating investment in new clean energy systems.
Therefore, the world needs to use all available solutions, not just oil, gas, solar, wind, nuclear, or hydrogen, but all of the above, as well as clean energies that have not yet been discovered, marketed, or deployed.
In short, the world needs “more energy with less emissions. ”
This is the approach we take in the UAE.
Thanks to the leadership ’ s vision, the UAE has always taken the lead in launching the first initiatives of its kind globally to reduce methane densities and emissions.
We are well aware that the transition in the energy sector will not happen at the touch of a button, but it is possible if we take a realistic, practical and economically feasible approach.
We must take into account that the solutions the world needs open up broad prospects for the global economy.
As we meet those needs, we will help bring electricity to the 800 million people who lack it today.
We will improve the lives of 2.6 billion people who do not have access to clean fuels for cooking and heating.
We will also lift people out of poverty, raise living standards and achieve sustainable economic growth.
Masdar is a leader in the transition to clean energy
- As Chairman of Masdar, what do you think of Masdar ’ s role in supporting the world and its strategic initiative to achieve climate neutrality in the UAE by 2050 through proven technologies and investments?
When Masdar was launched in 2006, many said it was ahead of its time.
Today, the company is a leader in the transition to clean energy and is instrumental in achieving the UAE ’ s vision to become a global leader in sustainability and climate action.
We believe that clean technology and climate solutions are indispensable, and that we need to apply them on a large scale, a strategy that the UAE has been implementing for more than a decade.
In addition to a total investment of more than $20 billion in more than 40 countries, Masdar ’ s projects generate more than 15 gigawatts of clean energy and avoid around 19.5 million tonnes of emissions annually.
In Africa, Masdar and its partners are empowering local communities and developing projects that provide more than 1 gigawatt of clean energy capable of electrifying more than 845,000 homes in Egypt, Morocco, Mauritania and the Seychelles.
The Zayed Sustainability Prize is managed by Masdar, which for 14 years has had a positive impact on the lives of more than 370 million people around the world.
In addition, the company provides knowledge-sharing platforms to stimulate further development in the renewable energy sector in general and the clean technology sector.
In addition, we support the transition to clean energy by taking advantage of hydrogen production opportunities, which Masdar has been exploring for more than 10 years, and aims to establish a global leader in green hydrogen production and support Abu Dhabi ’ s ambition to become a global hub of excellence.
Masdar plans to increase its hydrogen capacity to 1 million tonnes by 2030, and earlier this year signed a landmark agreement to develop clean hydrogen power plants in Egypt with a capacity of 4 GW by 2030.
Agricultural Climate Innovation Initiative
At COP26 in Glasgow last year, the UAE and the United States launched an agricultural climate innovation initiative with the participation of many countries, and announced an increase of $4 billion in investments to accelerate the innovation of climate-smart food and agriculture systems.
The Agricultural Innovation for Climate initiative focuses on developing food systems and enhancing climate resilience in the agriculture sector by stimulating investments in innovations that contribute to food security and climate change mitigation.
At the same time, this global initiative seeks to protect the livelihoods of millions of smallholder farmers around the world who are most vulnerable to climate change.
The $4 billion increase in investments announced by the Agricultural Climate Innovation Initiative at COP26 represents the commitment of UAE partners to increase investment in 2021-2025, and the country has pledged to increase investment by $1 billion to accelerate the work of several government institutions to innovate climate-smart food and agriculture systems.
Although located in a dry area with scarce water resources, the UAE has been able to turn deserts into fertile agricultural land thanks to innovation and technology.
A good example is Bustanek, the world ’ s largest vertical farm, managed by Emirates Group, which produces more than 1,000 tons of high-quality leafy vegetables annually, in addition to Al Ain farms that produce strawberries and cranberries locally.
COP28
- You mentioned earlier that the UAE is looking forward to building capacity and enhancing cooperation as it prepares to host COP28 in 2023.
We are always striving to implement the vision of His Highness Sheikh Mohamed bin Zayed Al Nahyan, President of the UAE, and his directives to continue exploring new opportunities to build a world without emissions, as the UAE adopts this approach in all fields and sectors.
As we prepare to host COP28 in 2023, it is important to understand the priorities of all countries, and this is one of our main tasks now and next year.
COP28 will be the first global outcome to assess progress in implementing the goals of the Paris Agreement, an important outcome of COP28, and a critical milestone, as we seek to transform the event into an inclusive climate conference dedicated to finding solutions.
This approach will focus on empowering women and youth, accelerating climate finance, promoting access to and widespread deployment of advanced technology, and supporting communities most vulnerable to the impacts of climate change.
We believe that the world can explore tremendous opportunities for economic growth through cooperation for climate action.
All rights reserved to Al Ittihad Newspaper 2022 ©

Climate change is impacting the Middle East through drought, sea-level rise, and rising temperatures, affecting the region's water-poor countries and threatening human survival.

Title:

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

The UAE, Egypt, Jordan, and Morocco are among the countries in the Middle East that are investing in solar and wind energy as part of their energy transition strategies.

Title:

Content: Sunday, 24 September 2023 02: 03 GMT
2030 Arab Goal to Advance Renewable Energy Capabilities Globally
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Several Arab countries are accelerating to keep pace with the international aspiration to achieve the goal of tripling global renewable energy capacity by 2030, which is receiving widespread attention, amid various plans and strategies at national levels in many countries.
The Arab countries that are likely to play the largest role in this regard, according to industry experts, are the UAE, Saudi Arabia, Oman, Kuwait, Egypt, Jordan, Algeria and Morocco, by injecting more investments into this vital and promising sector.
During the recent G20 summit in New Delhi in September, G20 leaders expressed their support for all efforts to increase renewable energy capacity and pledged to accelerate measures to address environmental crises and challenges.
With this growing international interest in the energy transition, the plans are facing many challenges, including (but not limited to) access to finance, especially for low- and middle-income countries, with significant investment required over the coming years.
(Al-Bayan), a group of American academics and specialists in the renewable energy sector were surveyed about the main opportunities and challenges on the way to increase the desired capacity, the investments required to achieve that goal, and the extent of its expected environmental and economic repercussions.
Huge spikes.
Achieving the ambitious goal of doubling global renewable energy capacity in the near term will be reflected concretely in several contexts, explains Gregory Nemet, a specialist in the analysis of international energy systems and environmental policies at the University of Wisconsin. By 2030, it will deliver significant benefits in terms of jobs, economic development, and improved air quality, as well as putting the world on the path to addressing climate change in the long term.
“The costs of renewable energy, especially solar and wind, have dropped dramatically over the last 10 years, and most experts expect them to continue to fall, ” says Nemet, explaining that a clean, affordable source of energy creates huge opportunities, allowing global renewable energy capacity to be tripled by taking full advantage of it.
According to Nemet, the 3-fold increase also presents challenges, such as “access to finance for low- and middle-income countries, and investments in electricity grids to accommodate this growth ”, stressing that“ challenges can be overcome through sustained efforts and supportive policies, as we have seen many examples in the recent past. ” A sign of broad international cooperation is required in this regard.
Last year, renewable energy capacity (globally) increased by 9.6 percent to 3,372 gigawatts, an increase of a record 295 gigawatts, despite global uncertainty in light of geopolitical developments and the Ukrainian war, according to data published by the International Renewable Energy Agency (IRENA) on March 22.
Almost half of the new capacity from renewable energy in Asia has been added, with China contributing more than 141 gigawatts to the new capacity of the entire continent.
Renewable energy sources in Europe and the United States grew by 57.3 gigawatts and 29.1 gigawatts respectively.
African capacity increased slightly by 2.7 gigawatts.
According to IRENA data, although hydropower accounts for the largest share of total global renewable energy capacity at 1,250 gigawatts, solar and wind power continue to dominate new capacity, contributing 90% of total capacity last year.
Solar capacity came first with an increase of 22%, followed by wind power with an increase of 9%.
Policies and Incentives
University of Massachusetts academic David Turcotte, whose research interests include climate change and environmental justice, believes that there are many opportunities in the context of increasing global renewable energy capacity, due to increases in oil prices as a result of the Ukrainian crisis, which makes renewable energy sources more cost-effective, as well as worsening economic and human costs. Recurrent, more severe climate change disasters.
“Many developed countries have expanded policies and incentives to encourage increased capacity to produce renewable energy.
However, we still face a lot of challenges […]
That threatens to derail efforts to increase renewable energy capacity, and the transition to a clean energy economy.
Among these challenges is the lack of adequate funding to support increases in renewable energy capacity in developing countries, a challenge he described as “serious. ”
While international efforts are accelerating to target investments in the context of increasing global renewable energy capacity, those investments are still below the 1.5 ° C target.
This is shown by data from IRENA and the Climate Policy Initiative (CPI) released in February, which estimate the total volume of investments in renewable energy sectors during 2022 at $499 billion, up from $430 billion in the previous year 2021.
Developments in the world over the past year, especially with the start of the Russian military operation in Ukraine in February 2022, have also encouraged many countries to move more towards renewable energy sources, to overcome the energy crisis caused by the consequences of the war, in the interest of the desired goal of increasing capacity.
Required investments
John Hall, Professor of Mechanical Engineering at the Center for Energy Production and Infrastructure, University of North Carolina, United States, notes that “the goal of tripling global renewable energy capacity by 2030 is a challenge, and achieving the goal requires an intensive global strategy, focused on significant financial investment, technological innovation targeting these communities, inclusive policies, and collaborative efforts. ”
Speaking with Al-Bayan, he stressed that community participation and infrastructure development in underserved areas should be central to the strategy, leading not only to the promotion of the energy transition, but also to economic upgrading.
The International Renewable Energy Agency (IRENA) estimates that $4 trillion per year will be required in the clean energy sector until 2030 to strengthen global capacity in this regard.
Logistical challenges
Warren Mabey, an academic at Queen ’ s University who specialises in energy policy and natural resource management, told Al Bayan that “it is technically possible to triple global renewable energy capacity over the next six years, and this will put enormous pressure on the global supply chains that support the sector. and manufactured goods, necessary for the transformation process).
Mabe believes that “the cost will be enormous, and the logistical challenge may be too great to overcome ”, stressing the need for“ strong and consistent leadership from countries around the world to achieve this. ”
Arabic Steps
At the Arab level, five Arab countries (Egypt, Morocco, Oman, Saudi Arabia and the United Arab Emirates) are expected to account for about 72% of the region ’ s total growth in renewable energy, according to the Organization of Arab Petroleum Exporting Countries (OAPEC), which expects renewable energy capacity to reach 45 gigawatts by 2027, an increase of 3 times. Compared to the last five years.
The International Renewable Energy Agency (IRENA) estimates that in 2022, the Middle East saw the highest increase in renewables ever, with 3.2 gigawatts of new capacity added last year, a 12.8 percent increase over the previous year.
According to the Arab Renewable Energy Authority (AREA), the volume of investments by Arab countries in renewable energy projects is expected to reach $1 trillion by 2040, in light of the interest of Arab governments in this file, to achieve global environmental goals.
A Great Leap in 10 Years
According to the current data, the renewable energy sector in the region is expected to witness a huge leap in the next 10 years, at a time when eight Arab countries are leading this trend, according to the researcher in international relations and political economy, Abu Bakr al-Deeb, adviser to the Arab Center for Studies and Research, who tells Al-Bayan that the countries strongly candidate to move in this direction are:, Kuwait, Egypt, Jordan, Algeria and Morocco).
Aldeeb also cites the volume of electricity generated from renewable sources in the Middle East and Arab countries, which is expected to increase six-fold in 10 years through heavy reliance on solar photovoltaic energy, noting that the Arab region has “great potential ” to help launch major projects to produce energy from the sun. And wind, among these possibilities or advantages (the right climate, the bright sun most days of the year, as well as human expertise, and financial capabilities also for some countries).
The UAE is at the top of the list of Arab countries that produce electricity from solar energy, while Egypt is the largest country in the Arab world in terms of electricity production from wind energy, according to a report issued by (Global Energy Monitor), which Al-Deeb cites when explaining the progress made by some Arab countries in this sector, The UAE, Egypt, Jordan and Morocco are among the first Arab countries to establish solar and wind power plants.
According to the report, renewable power plant projects for Arab countries are likely to achieve 92% of the region ’ s total target by 2030 when completed.
One of the most reliable projects in this regard is the Green Hydrogen projects, through which the Middle East is seeking global leadership, with export revenues likely to reach $200 billion by 2050 for the Gulf countries, according to a study by Dii Desert Energy.
In this context, Al-Deeb notes the abundance of renewable energy resources, clean hydrogen, human expertise, capital, and their geographical proximity to the European market, all of which provide them with important and growing opportunities.
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The Middle East Green initiative was launched by a kingdom in the region, which organized a summit attended by prominent international figures, aiming to promote environmental initiatives and reach net zero carbon emissions by 2060.

Title:

Content: The Guardian: The Middle East is facing a ‘ resurrection ’
And Mecca may not be livable by the end of the century.
Friday 29 October 2021 05: 27 pm / Jerusalem time + 2GMT
London / Sama /
Titled “Resurrection Soon: A Reluctant Middle East Forced to Awareness of the Climate Crisis, ” The Guardian ’ s diplomatic editor Patrick Wintour said that Hurricane Shaheen hit Oman some time ago, the first tropical cyclone to reach this point west into the Gulf.
In Basra, southern Iraq, power has been cut off frequently as a result of this summer ’ s temperature of 50 degrees Celsius, forcing residents to move in their cars to get cold.
Kuwait broke the record for the hottest day of 2016 of 53.6 degrees Celsius, and this summer temperatures were very high, with floods in Jeddah and more recently in Mecca at a time when temperatures in Saudi Arabia have increased by 2 percent and the maximum temperature of 2.5 percent since the 1980s.
Qatar is the world ’ s highest emitting country and the world ’ s largest producer of liquefied gas (LNG), and public spaces are equipped with air conditioners.
In Tehran, pollution annually kills 4,000 people a year, and in Khuzestan province, citizens have blocked streets and burned tires due to drought as a result of mismanagement, U.S. sanctions and a deadly atmosphere.
In the United Arab Emirates, the climate crisis is estimated to cost $6 billion a year, the highest in terms of health costs.
The salinity of the Gulf increased with the proliferation of desalination plants by 20%, which affected marine life and biodiversity.
Conditions are expected to worsen at a time of rising temperatures, humidity and sea levels.
Warming rates in the Middle East are twice as high as in the world.
By the end of the century, if the dangerous predictions are correct, Mecca may not be fit for life, making the Hajj season dangerous if not catastrophic.
Large swaths of the Middle East have come to resemble the Afar region of Ethiopia, a vast area without human settlement that pushes towards the Red Sea.
The glittering cities of the Gulf may face the dilemma of rising water levels themselves.
We do not speak of the day of judgment, but of the day of judgment.
Jim Crane, an energy researcher at Rice University in Houston, said: “This is really a difficult topic because the interests of the ruling elites are at odds with the interests of the citizens.
The ruling elite depends on oil resources for the survival of their regimes.
They want to keep the oil trade in order to keep them in power.
Their system is based on oil leasing, but the population ’ s ultimate interests lie in a sustainable climate. ”
Zeina Khalil Haj, founder of Greenpeace in the Middle East, believes that the region is suffering from double pressure: “With increasing demands for energy change, a region that relies on fossil energy, oil and carbon for its economic survival, but cannot continue this dependency.
There will be no oil market but with climate change, they are required to increase efforts to survive.
The extreme climate is changing people ’ s lives on a daily basis and there is no choice but to go green. ”
The West ’ s persistent appetite for fossil energy has led the region to build car-based cities, shiny skyscrapers filled with air conditioners and shopping malls.
It must look for ways to avoid self-destruction, and it must be, according to Thomas Friedman, the Prometheus moment for the Middle East and the search for creative and creative ways.
In fact, the region has been reminded for a decade that it has to make the transition from oil.
Although the moment when oil demand will reach its highest point remains controversial, and depends on a number of assumptions about regulation, technology and customer behavior, the point I mentioned is 2040, after which demand will decline.
But the International Energy Organization ’ s “Net Zero ” report sees the peak as 2050 and by comparison suggests a reduction in oil demand from 88 million barrels per day in 2020 to 72 million barrels per day by 2030, and 24 million barrels per day in 2050, a 75% decline between 2020-2050.
The report argues that the Gulf has three factors underpinning the transformation: capital, sun, and vast, empty spaces.
Until recently, the Gulf states, including Iran, did not feel the desire to shift away from fossil energy to this extent.
When asked, Saudi Oil Minister Prince Abdulaziz bin Salman said it was “a sequel to La La Land, ” meaning that the report and its writers do not know what is happening.
"If I wanted to worry about the IEA's expectations, I would be on Prozac all the time," he said.
Qatar ’ s Energy Minister Saad al-Kaabi said reducing oil and gas production levels would affect the supply process and laughed at “the enthusiasm surrounding the transition. ”
The Organization of Petroleum Producing and Exporting Countries (OPEC) forecasts that the process of oil demand will increase significantly through 2045 and the share of oil in global energy demand will fall from 30% to 28%, which is not a green revolution.
Gulf states still rely on gas and oil exports, accounting for 70 percent of goods exported from Kuwait, Qatar, Saudi Arabia and Oman.
Oil resources account for more than 70% of the total resources of Kuwait, Qatar, Oman and Bahrain.
In Vision 2030, published by Prince Mohammed bin Salman in 2016, he promised to turn the country into an important industrial hub.
World Bank figures show that Saudi Arabia relies on 75% of its oil resources for its budget.
Aramco, which is making its mark on global carbon emissions, is not diversifying at the same pace as Shell or BP.
Instead, it announced it would increase crude oil production capacity from 12 million barrels per day to 13 million barrels per day by 2027.
Haj believes that the shift away from oil may require a psychological shift from the consumer mentality, “The Gulf has not yet reached this kind of discussion.
If you see the way of life in the UAE and Qatar, it is based on inexhaustible consumption, and I fear we are still a long way from that in terms of politics and readiness. ”
Iran is the largest country in the world in terms of carbon emissions by population, followed by the UAE in second place and Saudi Arabia in 13th place.
Of course, Gulf rulers at events such as the Glasgow climate conference can defend themselves by saying that their region is not the primary source of carbon emissions, and historically, collectively, accounts for 4.7% less than carbon emissions and pollution from the United States, Europe and China.
The Middle East exports oil, but pollution is the responsibility of those who import it.
But the region ’ s leaders have come to grips with the problem not because of Western pressure but in response to citizens ’ demands, the goose has realized that the eggs, the oil, are no longer golden but brown.
The UAE is the first country to say it has moved to ratify the Paris Treaty and is the least dependent Gulf state on oil for its government resources.
Last week, she announced the “Net Zero by 2050 Initiative ” with an initial investment budget of $163 billion and appointed the Minister of Climate Change and Environment, Maryam Al Muhairi.
The announcement came after the government ordered awareness sessions in all its ministries since June for 80 days.
It was the first country in the Gulf to adopt a net zero domestic consumption policy.
The plan is still in its infancy and some of its features are unclear, but the direction is clear.
It promised to rely on renewable and nuclear energy by 50% to generate electricity by 2050.
Abu Dhabi ’ s national oil company said it would get 100 percent of its electricity from the nuclear reactor and solar power.
The Mohammed bin Maktoum Solar Park will be the largest in the world with a capacity of 5,000 megawatts.
Gulf states are competing with each other, with news reports that Qatar has appointed a climate minister, Bahrain aiming for net zero carbon by 2050 and Kuwait announcing a plan to reduce carbon emissions.
Saudi Arabia does not like to be late.
It announced that it would increase the proportion of renewable energy from 0.3% to 50% by 2030.
The plan is to plant 10 million trees in the coming decades.
Over the weekend, the kingdom organized a summit of the Green Middle East Initiative, attended by John Kerry and Britain ’ s Prince Charles.
It promised to reach net zero carbon emissions in its territory by 2060.
The main reason the Gulf states have been slow to shift away from oil and its commodities is that they have made them rich and helped them anesthetize their citizens.
Their loyalty was bought through a series of subsidies for water, electricity, fuel and tax breaks.
These dynamics were different from Iraq, Lebanon and to a lesser extent Iran, but the situation is changing with the emergence of local environmental groups.

"Egypt is investing in solar energy as part of its energy transition strategy, aiming to derive 42 per cent of its electricity mix from renewable sources by 2035."

The Benban Solar Park in Egypt has a capacity of 1.8 GW.

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Content: The Middle East and North Africa have significant investments in wind energy
The Middle East and North Africa have significant investments in wind energy
Renewable energy throughout the Middle East and North Africa is usually talked about from one point of view: the sun shining strongly on the region ’ s deserts.
Solar energy is indeed a great source of energy and is designed to power equipment and appliances, but wind also blows through the plains, hills and seas of the Middle East, and megaprojects harness the power of wind and turn it into energy.
Political analyst Robin Mills says the Middle East and North Africa (MENA) region actually started using modern wind energy on a commercial scale a decade before using solar power, with projects in Morocco, Egypt, Israel and in Tafileh in Jordan, where the turbines are slowly spinning near the ancient fortress of Karak.
The cheapest electricity in the world is generated from solar power in the UAE and Saudi Arabia, and global projects such as the largest single-site solar farm in Al Dhafra in Abu Dhabi, with a power of 2 GW, and two of the largest multi-project sites, the Mohammed bin Rashid Solar Park in Dubai (5 GW) and Banban in Egypt (1.8 GW), can also be installed. solar on a smaller scale on the shelves of homes and factories.
Despite the lack of consistency unlike Northwest Europe, there are excellent wind resources in the MENA region.
Winds are blowing in southern Morocco and the areas around the Gulf of Suez and Aqaba in Egypt, Jordan, northwestern Saudi Arabia, southern Egypt and the southeastern coast of Oman.
Parts of Libya, southern Tunisia, the Algerian desert, inland Iran and Kuwait also experience strong winds, and in contrast to most parts of Europe, the region has open spaces where the construction of wind stations will not be rejected by some segments of society.
Egypt, which hosted the COP27, benefits from having projects that produce 1.59 GW currently installed, 0.75 GW under construction and 1.6 GW planned, and has signed a series of projects in recent weeks, which have included memorandums of understanding with Norwegian developer Skatek for 5 GW, with UAE clean energy company Masdar for 10 GW, and with Saudi energy development company Aqua for 10 GW.
It will be the second largest wind farm in the world, and the largest is Gansu, which produces 20 gigawatts in China.
Aqua is already building a 1.1 GW wind farm at Jebel Zeit on the Gulf of Suez, which will be the largest in the region when it comes into operation in late 2026, with Egypt ’ s total projected production capacity of 24 GW, the seventh largest national capacity in the world according to current figures.
In addition, Egypt, Saudi Arabia, Oman, Morocco and Mauritania will need huge wind farms to build their planned green hydrogen projects, which use renewable electricity to analyze water with electricity.
Under MENA conditions, wind power is likely to be more expensive than solar, even if Saudi Arabia gets a very competitive tariff of 2.13 cents per kilowatt-hour for its first wind farm in Dumat al-Jandal (which was the lowest solar contract in the region at 1.03 cents per kilowatt-hour).
Wind power also takes longer to build, and production cannot be predicted after a few days.
But wind has many advantages: it is clear that it often blows at night more strongly than during the day, making it complementary to solar energy.
This is especially useful in hot early autumn evenings, when people need air conditioning even after sunset.
Solar energy in the region has achieved a capacity factor, which is the average output of the source as a proportion of its peak output, and is about 20 percent over the year, allowing work at night and different seasons, Egyptian wind power manages 53 percent, and solar and wind power in the best locations can have a combined capacity factor of more than 70 percent.
And there are still some vital questions about the location of turbines and mega projects planned in Egypt?
Wind lanes around Sinai are relatively confined and surrounded by mountains, and areas to the south on the Red Sea coast, or inland areas with difficult logistical hurdles, will have to be considered.
And will the region venture out and explore offshore wind power, as Northwest Europe has successfully done?
There are stronger and more consistent winds, and much more room to develop them, albeit at higher costs.
Will current project announcements overlap with green hydrogen projects?
If this is done, the wind requirements will be much greater, and will provoke competition for good sites and equipment.
Can countries in the Middle East and North Africa that are less exposed to wind power, particularly the UAE, Qatar and Bahrain, benefit economically from improved turbines for slower wind speeds?
Will other wind-blowing countries with low energy, such as Iraq, Kuwait, Libya and Tunisia, start adopting this technology?
If those questions can be answered with a yes, the spinning turbines and shimmering solar panels in the Middle East and North Africa will become a symbol of the region ’ s shift to clean energy.
arabic

"Egypt is investing in renewable energy, aiming to derive 42% of its electricity mix from renewable sources by 2035, as part of the growing trend of renewable energy investment in the Middle East."

"Saudi Arabia's Public Investment Fund is investing in Lucid Group, a Tesla competitor, as part of the country's efforts to diversify away from fossil fuels and invest in alternative energy sources, including electric vehicles."

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Tesla Competitor Lucid Raises $1.5 Billion, Majority From Saudi Sovereign Wealth Fund

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Key Takeaways

  • Lucid Group has raised an additional $1.5 billion to support ongoing operations, with $915 million being contributed by the Saudi Arabia Public Investment Fund.
  • It keeps the Fund’s stake in Lucid at around 62%, continuing their status as a majority owner of the company.
  • Despite almost $1 billion in additional investment, it’s a drop in the bucket compared to the funds total value, which is estimated at over $620 billion.
  • It marks a continued diversification of the oil states diversification away from fossil fuels, into a wide range of investment from video games to sports teams to major infrastructure projects.

Electric vehicle (EV) manufacturing has come a long way over the past ten years. Back in 2008 when the first generation Tesla Roadster was launched, EV's were very much a curiosity.

It was the first road legal production EV, and while less than 2,500 Roadsters were sold across the world, it kicked off a trend that continues to pick up pace today.

Tesla wasn't the first company to make an electric vehicle. They’ve been made in one form or another as far back as 1828. But Tesla were the first to mass produce one that was legally able to be driven on the road, and they made it sexy to boot.

Since then, the EV market has exploded.

There have been a huge number of newcomers to the space, with companies such as Rivian, Nikola, Polestar, Fisker and Lucid all vying for their share of the electric gold rush. Not only that, but traditional automakers are pumping billions of dollars into the sector as well.

Companies such as General Motors, Mercedes-Benz, Volkswagen Group, Kia and Hyundai and others have all jumped on the bandwagon and now offer a range of electric vehicles alongside their internal combustion range.

The trend is only going to pick up speed. Many jurisdictions are now seeking to ban the sale of new gasoline and diesel powered cars, such as California and all states signed up to their Zero Emission Vehicle Program, plus the UK and Europe, Canada, New Zealand, Singapore, Japan, Iceland, Norway and even China.

So with all that going on in the background, it’s not a stretch to suggest that the oil states might be getting a little nervous. It’s why we’ve seen such a huge push from places like Sudi Arabia, the United Arab Emirates and Oman to diversify their economies away from just oil.

The Saudi Arabia Public Investment Fund is already a majority owner of Lucid Motors, and with an additional $915 million cash tipped in with this round, their stake remains at sound 62%.

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Lucid raises $1.5 billion

In addition to the $915 million added by Saudi Arabia, Lucid raised an additional $600 million through a traditional secondary stock offering. The funds will be used to help bolster the company’s balance sheet, after it posted underwhelming third quarter results.

The figures showed delivery numbers way down from expectations which had been as high as 20,000 vehicles in 2022. Now the number is expected to be below 7,000.

Lucid is now likely to have over $5 billion in cash reserves, with the newly raised $1.5 billion being added to the $3.85 billion on hand on September 30.

After going public in January 2021, Lucid’s stock price rose very quickly from an IPO price of $14 to hit an all-time high closing price of $58.05 in February of that year. It came back down soon after to settle in the low $20 range, before running up to the high $50’s again in late 2021.

Since then the price has crashed in 2022 and is down over 81% year to date. It currently trades at just under $8 per share.

What is the Saudi Arabia Public Investment Fund?

By far the largest investor in Lucid is the Saudi Arabia Public Investment Fund (PIF), which holds around 62% of the company. The PIF is a sovereign wealth fund that was established by the government of Saudi Arabia in 1971. Its mandate is to manage the country's financial assets and make strategic investments that will contribute to the economic development of Saudi Arabia.

The PIF is one of the largest sovereign wealth funds in the world, with assets estimated at over $620 billion. It is a key financial institution in Saudi Arabia, and it is responsible for managing a large portion of the country's financial resources.

The PIF has made a number of high-profile investments in recent years, including a $3.5 billion stake in Uber, $522 million in Meta, $495 million in Disney, $487 million in Bank of America, $713 million in Boeing and $522 million in Citigroup.

The fund has also made a number of bets on gaming, at various times taking minority ownership in Electronic Arts, Take-Two Interactive, Activision Blizzard, Capcom, Nexon and Nintendo.

It doesn’t end there.

There have been a range of high profile investments in sports as well. In 2021 the fund purchased English Premier League club Newcastle United for $370 million and also launched LIV Golf, a high profile, big money competitor to the PGA Tour.

These investments were made in order to help the PIF diversify its portfolio and generate returns for the benefit of the Saudi government and its citizens.

The PIF has also played a key role in the Saudi government's efforts to diversify the country's economy away from oil. For example, it has invested in a number of infrastructure projects, like the construction of a new international airport in Riyadh and the development of a new city called NEOM - the crazy, 100 mile long, mirror-finished, futuristic ‘line’ in the desert.

These projects are intended to create jobs and stimulate economic growth in non-oil sectors, and they are part of the Saudi government's Vision 2030 plan to transform the country into a more diversified and modern economy.

The PIF is hugely important for Saudi Arabia, and it is expected to play a key role in the country's economic development in the future. It’s responsible for managing a significant portion of the country's financial resources, and it is working to make strategic investments that will contribute to the economic growth and diversification of the country.

Why are oil states moving away from oil?

It’s not just the move to EV’s which is driving this diversification.

At the end of the day, oil is a finite resource, which means that it will eventually run out. The oil reserves in these countries are not infinite, and at some point in the future, they’ll be gone.

That might be a long way off, but nonetheless it will happen.

This is a concern for the governments of these countries because oil has traditionally been the main source of income and economic activity in the region. If they don’t diversify their economies and find other sources of income, they’ll be in big trouble when oil or its demand begins to run out.

Another reason for diversification is that the demand for oil can fluctuate significantly, and this can have a big impact on their economies. For example, if there is a recession or a drop in global oil prices, the economies of these countries may suffer. This is because the demand for oil decreases during these times, and as a result, the revenues that these countries generate from oil exports may decrease as well. By diversifying their economies, these countries can be less reliant on a single resource and be less vulnerable to these fluctuations.

The oil states also recognize that there are increasing concerns about the environmental impacts of fossil fuels and the need to transition to more sustainable sources of energy.

Diversifying their economies can help them achieve this goal by promoting more diverse and sustainable sources of economic activity, such as renewable energy, tourism, and technology.

Overall, diversifying their economies away from oil is seen as a way for the Middle Eastern oil states to ensure their long-term economic stability and sustainability. By having a more diverse and resilient economy, they can better weather economic downturns and other challenges, and continue to thrive in the future.

How can investors benefit?

There’s no denying that moving towards a more sustainable future makes sense. Not just from an environmental standpoint, but from an investment one as well. There is a huge push for new technologies and strategies to make our economy cleaner, and this creates a big opportunity for companies.

In our Clean Tech Kit, we use the power of AI to invest across a range of different green technologies. These include renewable sectors such as EV producers and infrastructure manufacturers, hydrogen fuel cell tech, alternative fuels, battery manufacture, waste reduction and smart water technologies.

Every week our AI predicts how each holding in the predetermined investment universe is likely to perform in the coming week on a risk-adjusted basis, and then automatically rebalances the Kit in line with these predictions.

This includes three ETFs, plus a weekly allocation to between 16-19 individual stocks out of a total universe of 58.

It’s like having a professional investment manager, right in your pocket.

Download Q.ai today for access to AI-powered investment strategies.

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Gulf Cooperation Council countries are transitioning to clean and renewable energy, with a focus on solar energy, as evidenced by significant investments in solar projects and goals to achieve net zero emissions.

The United Arab Emirates aims to generate 50% of its electricity from renewable and nuclear energy by 2050.