The Middle East, traditionally reliant on oil, is undergoing a significant energy transition, with countries like the UAE and Saudi Arabia leading investments in solar energy to diversify their economies and achieve climate goals.

Key projects include the Mohammed bin Rashid Al Maktoum Solar Park in Dubai, which aims for a capacity of 5 gigawatts by 2030, and the Al Dhafra Solar PV Plant in Abu Dhabi, set to become the world's largest solar power plant at 2 gigawatts.

Egypt's Benban Solar Park, spanning 37 square kilometers, is another landmark project, with a capacity of 1.8 gigawatts and significant contributions to job creation and greenhouse gas reduction.

Government incentives, such as Egypt's Feed-in Tariff program and Jordan's solar loan initiatives, have been instrumental in attracting private investments and fostering renewable energy adoption.

The region's solar energy potential is immense, with annual solar radiation exceeding 2,000 kilowatt-hours per square meter, yet solar currently accounts for just over 2% of the energy mix.

Economic diversification efforts, such as Saudi Arabia's Vision 2030 and the UAE's $163.5 billion clean energy plan, highlight the role of renewables in reducing dependence on oil revenues.

Challenges like infrastructure gaps and high capital demands persist, but international collaborations, such as China's solar manufacturing partnerships, are helping to address these barriers.

The energy transition aligns with global climate goals, with initiatives like the UAE's Net Zero Strategic Initiative and regional hosting of COP events emphasizing the importance of decarbonization.

By integrating solar energy into their grids and exploring green hydrogen, Middle Eastern nations are positioning themselves as leaders in the global renewable energy market.

These efforts not only advance climate objectives but also create economic opportunities, enhance energy security, and strengthen the region's role in the global energy transition.

The Middle East, traditionally reliant on oil, is undergoing a significant energy transition, with countries like the UAE and Saudi Arabia leading investments in solar energy to diversify their economies and achieve climate goals.

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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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Key projects include the Mohammed bin Rashid Al Maktoum Solar Park in Dubai, which aims for a capacity of 5 gigawatts by 2030, and the Al Dhafra Solar PV Plant in Abu Dhabi, set to become the world's largest solar power plant at 2 gigawatts.

Egypt's Benban Solar Park, spanning 37 square kilometers, is another landmark project, with a capacity of 1.8 gigawatts and significant contributions to job creation and greenhouse gas reduction.

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Content: Chairman of the Board of Directors and Editors
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Economy: Benban and the Gulf of Suez are among the largest renewable energy projects
Economic Middle East magazine, which specializes in economics and energy, said that the Benban solar park and the Gulf of Suez wind project in Egypt are considered among the largest renewable energy projects in the Middle East.
Renewable Energy Projects in the Middle East
The Middle East has long relied on oil and gas, not only for revenue but also for power generation, but in the past years, the region has positioned itself as a leader in the renewable energy sector, boasting numerous renewable energy projects.
From 2023 to 2028, Mordor Intelligence expects the renewable energy market in the Middle East to grow by 13.43% annually.
The Arab Clean Energy Initiative was launched by the International Renewable Energy Agency (IRENA), and during the Arab Economic and Social Development Summit of 2013, the League of Arab States adopted the initiative, with leaders pledging to increase renewable energy generation capacity in the region from 12 GW in 2013 to 80 GW by 2030.
Benban Solar Park
Located in Aswan, Egypt with a capacity of 1,800 megawatts, Benban Solar Park is valued at $4 billion and includes 41 solar power plants, one of the largest solar PV parks in the world, spanning 37 square kilometers and containing 7 million photovoltaic panels, this initiative is a component of Egypt ’ s Renewable Energy Feed Tariff (FiT) program, which was unveiled in September 2014.
Gulf of Suez Wind Power Project
In November last year, ACWA Power and the Sovereign Fund of Egypt (TSFE) signed a memorandum of understanding, and together they will invest in a 1100 MW wind power project in Jebel Zeit and the Gulf of Suez. The project is one of the largest onshore wind farms in the world, and aims to provide power to more than one million households and reduce annual CO2 emissions by 2.4 million tons.

Government incentives, such as Egypt's Feed-in Tariff program and Jordan's solar loan initiatives, have been instrumental in attracting private investments and fostering renewable energy adoption.

The region's solar energy potential is immense, with annual solar radiation exceeding 2,000 kilowatt-hours per square meter, yet solar currently accounts for just over 2% of the energy mix.

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Content: General Supervision
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World Future Energy Summit.
Green finance and climate change lead day 2
The second day of the World Future Energy Summit (WFES), held at the Abu Dhabi National Exhibition Centre (ADNEC) in the UAE, kicked off today.
The summit is the premier annual forum for future energy and sustainability.
The day ’ s events focused on green finance, with Boris Johnson, the former Prime Minister of the United Kingdom, stressing the urgency of correcting climate change and thinking outside the box, and providing inspiring views on the obstacles to investing in renewable energy and ways to develop it during a session entitled “Financing Global Approaches to Low-Carbon Economies ”.
“It takes a lot of in-depth social studies, practical solutions and a lot of financial support – governments around the world spend a lot of money to defend themselves against other governments, but we don ’ t spend that much money to fight everyone ’ s first enemy, climate change.
He believes that finding practical solutions requires a serious approach to financing and establishing an assembly line for simple renewable energy projects, so that tangible results can be achieved as soon as possible, which is not possible without setting aside the side issues that usually concern us or we will not be able to solve the problem for another 10 years.
Ahmed Bahieldin, General Manager and Commercial Officer for Europe, Middle East and Africa (EMEA) at GE Vernova, an independent public company spin-off of GE ’ s energy, wind and electricity business, also joined the panel.
“Time is an important factor, especially as there is a lot of capital looking for projects in advanced markets, especially in the areas of renewable energy sources and new technologies, and regulatory reforms and the structuring of the revenue model give more room for growth.
The second day of the summit also saw the launch of the Solar Outlook 2024 report, officially released by the Middle East Solar Industry Association at the World Future Energy Summit.
The report highlights the growing contribution of solar energy to the MENA region ’ s ongoing energy transition from traditional fossil fuels to renewables, amid continued manufacturing boom, population and economic growth, as well as concerns about climate change and environmental sustainability.
Solar Energy
According to the report, the Middle East and North Africa (MENA) region today has one of the highest levels of solar energy potential in the world, with countries such as Saudi Arabia, the United Arab Emirates, Morocco and Egypt contributing on average annual solar radiation exceeding 2,000 kilowatt-hours per square meter per year.
While the regional solar growth trajectory is expected to continue, the report reveals that it is still well below the levels required to replace the current fossil fuel contribution of 87%, with solar providing just over 2% of the current energy mix in the MENA region.
Denisa Vines, Secretary General of the Middle East Solar Industry Association, said: “The COP28 pledge to increase renewable energy capacity and double energy efficiency with the support of 124 countries has set ambitious targets to increase the deployment of renewable energy and energy efficiency measures by 2030, but we still face many challenges to achieve these goals, especially in the energy sector within the Gulf region. After 2030, a variety of technologies are expected to be market-ready, offering scalable solutions to decarbonize the energy sector, enabling a more effective role for renewables, energy efficiency and zero-emission technologies.
The broad pursuit of ambitious targets by 2030 is focused on public utility projects, which may overshadow the needs of the commercial and industrial sectors, and this underscores the importance of considering a balanced approach to energy deployment to ensure inclusive and sustainable development.
COP28 Pledges
Speaking at the Solar and Clean Energy Conference, Dr. Ralph Blumenthal, Head of Networks Programs Middle East at Siemens, praised the ongoing discussions on digitization and the great importance of integrating renewables into smart grids to help achieve the goals of the COP28 pledge.
Batteries are key if we want to triple renewables by 2030, and increase them nine-fold by 2050. Batteries are not only storage, they are essential to grid regulation and reduce disruptions that may occur during renewable energy generation. Today, around 1,500 GW of renewable energy has been installed globally and is ready for deployment, but cannot be integrated into networks. It operates 100% on renewable energy, but national grids have not yet been able to effectively integrate renewables on a large scale.
Constructive discussions and sessions on global energy issues and solutions will continue tomorrow with the Electric Mobility Forum, which will comprehensively examine the role of clean and independent transport in changing the future of city design, and what is needed to unlock the potential of investing in expanding electric mobility.

Economic diversification efforts, such as Saudi Arabia's Vision 2030 and the UAE's $163.5 billion clean energy plan, highlight the role of renewables in reducing dependence on oil revenues.

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Content: People 's Network > > International
The Middle East: Struggling between reconciliation and conflict
December 25, 2023, 16: 10 | Source: Xinhua Network
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Xinhua News Agency, CAIRO, December 25, (International Watch) The World's Seven Regions 2023 Review | The Middle East: Struggling Between Reconciliation and Conflict
By Xinhua reporter Chen Mengyang
Reconciliation and cooperation, disasters and conflicts, growth and decline … The Middle East presents a complex picture in 2023, reflecting the coexistence of hope and challenges, vitality and hardship in the region.
Reunification of Shay leads to regional reconciliation
In 2023, reconciliation and cooperation are the salient features of the situation in the Middle East, indicating the growing autonomy of the Middle East countries.
Under the mediation of China, Saudi Arabia and Iran agreed in March to resume diplomatic relations after severing diplomatic ties for seven years.
This has shocked the world by reviving old enemies in the Middle East.
Iran and Saudi Arabia have agreed to hold a joint summit of leaders of the Arab and Islamic countries in Riyadh on November 11, the first visit by an Iranian president to Saudi Arabia since 2012.
In 2023, the Middle East countries made a series of progress in the regional reconciliation process: Israel and the United Arab Emirates signed their first free trade agreement with Arab countries; Turkey and Egypt sent ministerial officials to exchange visits for the first time in years; Qatar, Bahrain and the United Arab Emirates announced the resumption of formal diplomatic relations; Syria was suspended for more than a decade.
Speaking at the 32nd Arab League summit on reconciliation and unity, Saudi Crown Prince Mohammed said that peace, unity, cooperation and construction are in the interest of the Arab peoples. "We will not let this region become a zone of conflict," he said.
In 2023, the role of Middle East countries in international and regional multilateral organizations and cooperation mechanisms will continue to increase.
Iran officially joined the Shanghai Cooperation Organization, and Egypt, Saudi Arabia, the United Arab Emirates and Iran were invited to join the BRICS cooperation mechanism.
Zou Zhiqiang, a scholar at the Center for Middle East Studies of Fudan University, believes that the situation in the Middle East in 2023 has shown an unprecedented momentum
Although the Middle East peace process has been suspended due to the outbreak of a new round of Palestinian-Israeli conflict, it will not continue, and the general trend of relaxation and local instability will not be fundamentally changed.
Serious consequences of conflict
In 2023, there will be many serious natural disasters and armed conflicts in the Middle East, which will seriously affect regional stability and development prospects.
On February 6, a powerful earthquake hit Turkey's southern border region near Syria, killing more than 50,000 people and leaving millions homeless. Damage in Turkey alone amounted to about 100 billion U.S. dollars. On September 8, a powerful earthquake hit Morocco, killing more than 2,900 people and injuring more than 5,000 others.
Many people have been unable to return to their homes since the two major earthquakes caused huge loss of life and property.
The armed conflict has cast a shadow over the Middle East in 2023. On April 15, fierce clashes broke out in Khartoum, the Sudanese capital, and the Sudanese Armed Forces and the Sudanese Rapid Support Forces exchanged fire, which has continued to this day. On October 7, a large-scale armed conflict between Israel and Hamas in the Gaza Strip has caused huge casualties.
The Palestinian-Israeli issue has once again become the focus of great attention of the international community.
The new round of Israeli-Palestinian conflict has turned the situation in the region into chaos, disrupting the process of reconciliation between Israel and other Arab countries and Turkey.
In addition, unstable factors such as the Iranian nuclear issue, the civil war in Yemen, the conflict between Lebanon and Syria and Israel, and Turkey ’ s cross-border attack on PKK militants continue to plague the Middle East.
Multinational economic development in the doldrums
In 2023, due to multiple internal and external factors, in addition to the UAE and Saudi Arabia, economic growth in many countries in the Middle East is weak and depressed.
Recently, the world's largest single photovoltaic power station, Eldavra photovoltaic power station, was completed in Abu Dhabi, the United Arab Emirates.
The plant produces enough electricity to power 200,000 homes each year and will reduce carbon dioxide emissions by 2.4 million metric tons.
This project once again demonstrates the determination of the UAE, an oil and gas rich Gulf state, to diversify its energy and green development.
Saudi Arabia ’ s Vision 2030, which aims to move away from dependence on oil revenues and diversify its growth, is gradually turning from a blueprint into a reality.
According to a recent IMF report, Saudi Arabia is in a period of strong economic growth and is in good financial condition.
At the same time, other countries in the region, such as Egypt, Turkey, Lebanon, Syria and Iran, suffered from sharp currency devaluations, high inflation and soaring unemployment.
The exchange rate of the Lebanese pound, the Egyptian pound, the Turkish lira and other Middle Eastern countries has reached record lows against the US dollar.
In addition, the new round of Palestinian-Israeli conflict has hit the economies of Egypt, Jordan, Lebanon, Iran and other neighboring countries hard.
Forecasts released by the World Bank in October show that economic growth in West Asia and North Africa is expected to decline sharply in 2023, from 6% in 2022 to around 1.9%.
Zhao Jun, associate professor of the Middle East Research Institute of Shanghai Foreign Studies University, believes that due to factors such as low oil prices leading to oil production cuts, global financial environment tension, sustained interest rate hikes by the Federal Reserve, and the continued price rise of commodities and raw materials such as food due to the Ukrainian crisis, coupled with local turmoil continues, the economic downturn in many countries in the Middle East is unlikely to be reversed in a short time.
(Editor: Liu Ye Ting, Xu Xiangli)
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Challenges like infrastructure gaps and high capital demands persist, but international collaborations, such as China's solar manufacturing partnerships, are helping to address these barriers.

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Content: Land solar energy investment set off the "Middle East fever" total amount of nearly 100 billion
China's new energy investment set off the "Middle East fever", solar industry giants Jingke Energy, TCL Central almost at the same time announced cooperation with Saudi Arabia (Saudi Arabia) sovereign fund solar projects, a total investment of about 3 billion US dollars (about NT $97.5 billion).
In addition, inverter giant Sunlight Power announced the successful signing of the world's largest energy storage project with Saudi company ALGIHAZ, with a capacity of up to 7.8GWh.
Analysts pointed out that the above case means that in addition to the continued investment of Middle East funds in the mainland, in the solar industry is subject to overcapacity criticism, mainland funds choose to go to the Middle East to develop the solar industry.
Founded in 1971, PIF is one of the largest and most influential sovereign renewable wealth funds in the world. Its wholly-owned subsidiary, RELC, is one of the largest and most influential renewable wealth funds in the world. and a leader in green energy technology manufacturing.
Founded in 2021 by two major conglomerates, Abunayyan and Al Muhaidib, VI aims to build a new energy industry chain manufacturing capacity in Saudi Arabia to meet the huge demand for new energy in the Middle East and the world, and is an investor and developer of green energy industrial projects to support the localization of supply chains.
Among them, JinkoSolar ’ s joint venture company plans to set up a joint venture company in Saudi Arabia to build 10GW of high-efficiency batteries and components, with a total investment of 7.157 billion yuan.
JinkoSolar has a market share of more than 50% in the Middle East in 2023, including more than 70% in Saudi Arabia.
The joint venture company of TCL Central has an annual output of 20 GW of solar wafer projects in Saudi Arabia, with a total investment of about RMB15.1 billion.
It is also TCL ’ s first overseas solar wafer factory in Central.
After the project is launched, it will become the first solar wafer project in Saudi Arabia and the largest wafer factory in the world.
Vision Group ’ s joint venture will manufacture wind turbines and critical components locally. Helping Saudi wind power value chain achieve 75% localized production by 2030.
And Vision is the global wind power leader, overseas wind orders for two consecutive years accounted for 70% of the orders of mainland China's wind power enterprises.
At the same time, Sunlight Power also announced three sites in the Middle East energy storage project, in the Najran, Madaya and Khamis Mushait regions of Saudi Arabia, with deliveries starting in 2024 and full capacity grid operation in 2025.
However, Sun Power did not disclose the contract amount in the announcement.
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The energy transition aligns with global climate goals, with initiatives like the UAE's Net Zero Strategic Initiative and regional hosting of COP events emphasizing the importance of decarbonization.

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Content: 00: 00
Expo 2020 Dubai Today
Hosted by the UAE for the first time in the region
Middle East Climate Week explores sustainable recovery
T + T - normal size
The first MENA Regional Climate Week 2022 kicked off yesterday in the presence of H.E. Dr. Sultan Al Jaber, Minister of Industry and Advanced Technology, UAE Special Envoy for Climate Change; H.E. Maryam bint Mohammed Al Muhairi, Minister of Climate Change and Environment; H.E. Saeed Mohammed Al Tayer, President of the World Green Economy Organization; Managing Director and CEO of Dubai Electricity and Water Authority; and Patricia Espinosa, CEO of the United Nations Framework Convention on Climate Change. The meeting was attended by government and private sector officials, dignitaries from the Middle East and North Africa (MENA) region and beyond, heads of UN organizations around the world, as well as a large number of experts and stakeholders on climate action from around the world.
The Middle East and North Africa Climate Week will be held in Dubai for the first time in the region from 28 to 31 March at the Atlantis, The Palm Hotel, hosted by the UAE Government represented by the Ministry of Climate Change and Environment, the World Green Economy Organization and Dubai Electricity and Water Authority in collaboration with the United Nations Framework Convention on Climate Change, the United Nations Development Programme, the United Nations Environment Programme and the World Bank Group. Regional partners: International Renewable Energy Agency (IRENA); Arab League Secretariat; United Nations Economic and Social Commission for Western Asia; Islamic Development Bank.
A vision.
H.E. Dr. Al Jaber said: “As our region will host the next two sessions of the Conference of the Parties to the United Nations Framework Convention on Climate Change (COP), this event provides us with an ideal platform to discuss key climate challenges and propose smart solutions based on continued and ambitious climate action.
For us in the UAE, in line with the vision of our wise leadership, we have a realistic and positive outlook for the future, deal with challenges with a proactive approach, and we are committed to our role as a responsible energy producer. ”
His Excellency Sultan Al Jaber added: “The UAE is playing a leading role in these areas because it is focused on finding practical solutions to the challenges associated with climate change, and views these challenges as opportunities for growth to be taken advantage of.
As the host of COP28 in 2023, we will do our utmost to make this session inclusive and unifying the world ’ s efforts. We will focus on ensuring that the conference contains the views of all, represents all perspectives in the public and private sectors, and includes women, youth and civil society.
We will also focus on viable, commercially viable climate solutions that can transform plans and strategies into concrete results on the ground. ”
Her Excellency Maryam bint Mohammed Al Muhairi said: “The experience of the international community in the face of the Coronavirus epidemic has confirmed to everyone that cooperation, coordination and collective action are the way to face all challenges, especially the challenge of climate change, which threatens not only human health, but the health of the planet as a whole. ”“ Efforts to reduce the drivers of climate change and enhance capacity to adapt to its consequences. ”
H.E. Al Muhairi added: “The UAE will focus during the week on presenting its model of sustainable economic development to the countries of the region based on transforming all the challenges posed by climate change into growth opportunities that can be used effectively to create a better future for present and future generations. ”
Capability
In his speech during the opening ceremony, HE Saeed Mohammed Al Tayer welcomed the participants of the Regional Climate Week, which is being organized in the UAE in line with the vision of His Highness Sheikh Khalifa bin Zayed Al Nahyan, President of the UAE, and the directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, and His Highness Sheikh Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE. It supports the UAE ’ s efforts to achieve sustainable development and strengthen the UAE ’ s leading position in the field of green development, in line with the UAE Centennial 2071 strategies and objectives, the UAE ’ s Strategic Initiative to Achieve Climate Neutrality by 2050, the Dubai Clean Energy Strategy 2050 and the Dubai Carbon Neutrality Initiative to provide 100% of energy production capacity from clean energy sources by 2050.
Al Tayer added: “This event marks an important milestone and historic moment in the global and regional climate action agenda and will strengthen the leading role of the MENA countries hosting the next two sessions of the COP, with Egypt hosting COP27 in November 2022 and the UAE hosting COP28 next year.
I would also like to commend the efforts and support of the hosting partners of MENA Climate Week 2022 for their significant contribution to the organization of this important event. ”
A conclusion.
Al Tayer explained that the MENA Climate Week comes at the end of an important year for climate action, efforts to address climate change, and the beginning of a new and decisive decade, as this meeting is the first on the global agenda after COP26 held in Glasgow last November, followed by a series of Climate Weeks held in Africa, Latin America and the Caribbean, and Asia and the Pacific in 2021.
Al Tayer continued: “Given Dubai ’ s extensive experience in hosting and organising regional and global events, as well as its commitment to promoting a green economy, we are confident that the MENA Climate Week 2022, which coincides with Expo 2020 Dubai, is an ideal opportunity for participants from the MENA region and beyond. Challenges and opportunities, as well as a review of ambitious solutions.
It also provides an exceptional platform for regional stakeholders to share their views and concerns and prepare to contribute to COP 27.
We are confident that this event is an opportunity to move forward towards further enhancing ambition and climate action. ”
Al Tayer added: “Dubai has always been keen to support the key objective of the 2015 Paris climate agreement to limit global temperature rise to 1.5 ° C above pre-industrial levels.
In support of the directives of the wise leadership and the implementation of the Glasgow Climate Charter issued by the 26th session of the Conference of the Parties (COP26), the Emirate of Dubai has converted the Hasyan energy production complex to run on natural gas instead of clean coal technology, to promote the transformation of the Emirate of Dubai to a carbon-neutral economy.
Dubai has made significant progress in reducing emissions of nitrogen oxide and sulfur dioxide, implemented solar energy projects at an accelerated pace, and reduced its carbon emissions by 22% in 2019 and 33% in 2020, exceeding the target of the Dubai Carbon Reduction Strategy 2021. ”
SUPPORT
Patricia Espinosa praised the UAE hosting the meeting for its leadership on climate, adding: “The Glasgow Climate Charter agreed at the United Nations Climate Conference (COP26) underscored the importance of regional cooperation.
MENA Climate Week 2022 supports efforts to enhance the chances of a shift towards climate neutrality and protect communities and economies against the impacts of climate change.
In addition, bringing together stakeholders to discuss regional solutions enhances the global response to climate change. ”
Busy schedule
The Middle East and Africa Climate Week will feature a packed agenda of activities, forums and meetings, including roundtables for ministers, experts and leading figures, to discuss several themes, including “raising the bar on ambition ”;“ accelerating the pace of action during this key decade ”; and “enhancing the resilience of communities in the Middle East and North Africa ”.
The event brings together representatives of government agencies, private sectors and various stakeholders in events and dialogue sessions held under the umbrella of “Regional Climate Week ”, hosted by the co-organizers.
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By integrating solar energy into their grids and exploring green hydrogen, Middle Eastern nations are positioning themselves as leaders in the global renewable energy market.

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Content: MUSCAT: Renewable capacity expansion in the Middle East and North Africa (MENA) is projected to grow three-fold over the next five years (2023 – 2028), with the Sultanate of Oman ranked among the front-runners in driving this growth. According to a new report by the International Energy Agency (IEA), Oman’s renewables capacity growth is set to be the fourth largest in the region after Saudi Arabia, United Arab Emirates and Morocco.

These countries will account for the lion’s share of the 62 gigawatt (GW) increase in renewables capacity anticipated in the region by 2028, the Paris-based intergovernmental agency noted in its newly published report. “Over the next five years, the pace of growth is expected to accelerate to more than three times the previous five-year period, with solar PV making up over 85 per cent of the increase. Onshore wind and concentrated solar power also contribute,” said the IEA in its report, titled ‘Renewables 2023: Analysis and forecast to 2028’.

Driving much of this growth will be efforts by individual countries to decarbonize their electricity generation, but green hydrogen production is set to play a major role as well, according to the report. This is particularly the case in Saudi Arabia, UAE and Oman, it pointed out. “In fact, hydrogen accounts for more than 13 per cent of the region’s renewable capacity growth thanks to government policies to stimulate development for trade. Good solar resources, land availability and existing port infrastructure create favourable conditions for economically attractive renewable hydrogen to be shipped to demand centres in Europe and Asia,” the agency further stated.

Additionally, the report reaffirmed Oman’s positioning among the world’s top exporters of renewable hydrogen. It said: “By 2028, potential export countries could account for over one-fifth of hydrogen-driven renewable capacity deployment, led by Saudi Arabia, Australia, Oman and the United Arab Emirates. With the prospect of producing economically attractive renewable hydrogen to ship to potential demand centres in Europe and Asia, these countries aim to become major exporters of renewable hydrogen and hydrogen-based fuels.”

A revised Renewable Energy Plan enshrined in Oman’s 2040 Vision seeks to secure 16 per cent of electricity from renewables by 2025, rising to 30 per cent by 2030. Clean energy capacity is projected to rise to 2.6 GW by 2025 under the National Energy Master Plan. Supplementing this strategy is a commitment to embracing green hydrogen to, on the one hand, decarbonise the economy, and on the other to evolve into a major producer and exporter of renewable hydrogen. Green hydrogen output is targeted at around 1 million tonnes per annum by 2030.

2022 © All right reserved for Oman Establishment for Press, Publication and Advertising (OEPPA) Provided by SyndiGate Media Inc. (Syndigate.info).

These efforts not only advance climate objectives but also create economic opportunities, enhance energy security, and strengthen the region's role in the global energy transition.

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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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