Despite ~2,000 kWh/m2/yr of sun, regional solar is 2% and fossils 87%.

Regional renewables grew 12.8% in 2022; Arab states plan $1 trillion by 2040.

The UAE targets 50% clean energy by 2050.

The UAE will triple renewables to 14 GW by 2030 and has invested $50b+.

Dubai’s MBR Solar Park targets 5,000 MW by 2030, 6.5 MtCO2/yr cuts, and AED 50b.

Its phases total 2,000 MW, create 14,000+ jobs, and serve 320,000 households.

Abu Dhabi’s 2 GW Al Dhafra powers 200,000 homes, cuts 2.4 MtCO2/yr at ~1.32–1.35¢/kWh; falling costs and policy momentum point to solar’s lead.

UAE tools include an AED 100m solar finance program and an IPP model attracting AED 43.6b.

The UAE targets net zero by 2050 and plans $163.5b for clean energy, including renewables and green hydrogen.

Saudi projects include a 2.06 GW solar plant and a 2.2 GW NEOM project producing 600 t/day green hydrogen.

Saudi Arabia targets 50% renewables by 2030 and net zero by 2060, with pledges and clean-energy investment anchoring strategies and regional cooperation.

In the GCC, solar PV is the cheapest power (~$2/kWh).

Jordan targets 50% renewables by 2030; Baynouna produces 560 GWh/yr for 160,000 homes.

Jordan offers 0% loans for solar up to $28,100; Iraq targets 10,000 MW by 2025 with a $680m fund; concessional loans, net metering, and low-interest finance are expanding in Jordan, Lebanon, Kuwait, and Iraq.

Egypt targets 42% renewable electricity by 2035 and has 1,808 MW of solar, including Benban.

Egypt provides tax and tariff exemptions, subsidies, and grants under its Electricity and Investment Laws.

Qatar has 875 MW of solar and targets 5 GW by 2035.

Oman targets 16% renewables by 2025 and 30% by 2030, and is forecast among the fastest-growing by 2028.

Egypt uses competitive bidding and feed-in tariffs; the UAE uses IPP frameworks and targeted finance.

MENA green finance hit $24.55b in 2021, and the region could supply 10–20% of global hydrogen, earning $120–200b/yr by 2050.

Despite ~2,000 kWh/m2/yr of sun, regional solar is 2% and fossils 87%.

Title:

Content: General Supervision
Elham Aboul Fath
Editor-in-Chief
Thank you for your patience.
General Supervision
Elham Aboul Fath
Editor-in-Chief
Thank you for your patience.
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.

Regional renewables grew 12.8% in 2022; Arab states plan $1 trillion by 2040.

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 UAE targets 50% clean energy by 2050.

Title:

Content: General Supervision
Elham Aboul Fath
Editor-in-Chief
Thank you for your patience.
General Supervision
Elham Aboul Fath
Editor-in-Chief
Thank you for your patience.
Arab Monetary Fund: Growing interest of Egypt and countries in the region in renewable energy
The Arab Monetary Fund (AMF) has confirmed the increasing interest of Arab countries in renewable energy with the aim of diversifying the national mix of energy sources and working to reduce harmful emissions to the environment through the adoption of clean energy technologies and the safe disposal of carbon.
In the 55th issue of its series of introduction booklets entitled “Renewable Energy ”, the Fund stated that the UAE aims to triple its renewable energy production capacity by 2030 and increase the contribution of clean energy in total energy production to 30% by 2030, reaching 38% by 2035.
He pointed out that the Arab Republic of Egypt aims in its integrated energy strategy until 2035 to reach 42% of the total electricity produced in 2035, where the current contribution of renewable energy including hydropower in the total electricity produced is about 12%.
The IMF pointed out that within the framework of Saudi Arabia ’ s National Renewable Energy Program, which is a strategic initiative launched within the Kingdom ’ s Vision 2030, and the Custodian of the Two Holy Mosques Renewable Energy Initiative, the Kingdom aims to increase its share in renewable energy production, balance the local energy mix and meet its commitments to avoid emissions.
The IMF pointed out that Oman ’ s Vision 2040 includes goals related to achieving energy security through diversifying energy sources, increasing reliance on renewable energy, and rationalizing consumption, and aims to increase the proportion of renewable energy consumption in total energy consumption to reach 20% in 2030, rising to between 35% and 39% in 2040.
Qatar National Action Plan for Climate Change 2030
According to the IMF, the Qatar National Action Plan for Climate Change 2030 stressed the importance of expanding renewable energy projects and the integration of renewable energy sources in the energy mix in Qatar is an opportunity to liberalize energy production for export, reduce the amount of oil and gas consumed in desalination and power generation, and reduce greenhouse gas emissions.
The IMF pointed out that the energy management strategy in Tunisia aims to enhance energy efficiency by reducing the national consumption of primary energy by 30%, and the development of renewable energy sources by raising the contribution of renewable energy in electricity production to 30% by 2030, while in Algeria the government ’ s action plan aims to achieve a production capacity of 15,000 GW by 2035 based on renewable energy sources, especially solar energy.
In its comprehensive energy sector strategy for the years 2020-2030, Jordan aims to increase the contribution of renewable energy to electricity generation to 31% in 2030 compared to 21% in 2020, while Morocco ’ s energy strategy aims to increase the share of renewable energies in electricity generation from 20% to more than 52% in 2030.
The IMF pointed out that the rest of the Arab countries such as Iraq, Bahrain, Libya and the United States are working to enhance their use of renewable energy sources, especially solar energy, which Arab countries rely on a lot in light of the Arab region's advantages related to the solar belt that surrounds it, which is characterized by the availability of bright sunlight and heat that extends for long periods during the year.
The Arab Monetary Fund pointed out that the global interest in expanding the use of renewable and clean energy sources, in light of the ongoing challenges related to achieving energy security that have emerged clearly globally on the one hand, and the increasing demand for energy on the other hand, in addition to the growing environmental challenges that push towards the transformation of energy systems to clean, sustainable and affordable energy.
The IMF pointed out that despite the increasing interest in renewable energy, its contribution to the global energy mix remains modest, with several challenges related to the ability of renewable energy to meet the requirements of reliability and sustainability in relation to the availability of certain weather and climate conditions such as intensity and longevity of sunlight and heat, wind speed and water flow strength.

The UAE will triple renewables to 14 GW by 2030 and has invested $50b+.

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Content: The United Arab Emirates launched the Al Dhafra solar farm ahead of COP28, which is currently the largest single point solar farm in the world.
The 2 gigawatt (GW) solar farm is 22 miles (35 kilometers) from Abu Dhabi and has nearly 4 million double-sided solar panels.
It will power nearly 200,000 homes and reduce carbon emissions by more than 2.4 million tons per year.
It created 4,500 jobs at the peak of construction, with solar panels installed at an average rate of 10 megawatts (MW) per day during construction.
Al Dhafra is jointly developed by Abu Dhabi Future Energy Company (Masdar), Abu Dhabi National Energy Company (TAQA), EDF Renewable Energy and Chinese solar developer Jingke Power.
TAQA owns 40% of the project, while Masdar, EDF Renewables and JinkoSolar each own 20%.
Under the 2020 power purchase agreement, the solar power plant will supply electricity to the UAE Hydropower Company (EWEC).
Now that Al Dhafra is online, the UAE ’ s solar power capacity has increased to 3.2 GW. In September, EWEC solicited a proposal to develop a 1.5 GW solar power plant in Al Khazna, near Abu Dhabi.
The UAE aims to triple its renewable energy capacity to 14 GW by 2030.

Dubai’s MBR Solar Park targets 5,000 MW by 2030, 6.5 MtCO2/yr cuts, and AED 50b.

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Content: Saeed Al Tayer to Al Bayan: 86 million hours worked at Mohammed bin Rashid Solar Park
T + T - normal size
His Excellency Saeed Mohammed Al Tayer, Managing Director and CEO of DEWA, revealed to Al Bayan that the Mohammed bin Rashid Al Maktoum Solar Park includes more than 12.2 million solar panels, pointing out that the total working hours of the complex since its launch until 31 July last exceeded 86 million working hours.
He said: “The complex is one of the most prominent renewable and clean energy projects implemented by the Authority and is the largest single-site solar complex in the world under the Independent Energy Producer system, and its production capacity will reach 5,000 megawatts by 2030 with solar photovoltaic and concentrated solar energy technologies, with a total investment of up to AED 50 billion.
When completed, the complex will reduce CO2 emissions by 6.5 million tonnes per year. ”
Stages
He explained that the projects of the complex are being implemented in several stages: the first phase was launched in October 2013 with a capacity of 13 megawatts with the technology of solar photovoltaic panels, and included the installation of more than 152 thousand photovoltaic panels.
His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, inaugurated the second phase in March 2017, with a capacity of 200 megawatts with solar photovoltaic technology, the first solar energy project of its kind in the region under the Independent Energy Product (IPP) system.
This phase involved installing some 2.3 million photovoltaic panels over an area of 4.5 square kilometers.
The third phase was inaugurated in November 2020, with a capacity of 800 megawatts with solar PV technology under the Independent Energy Product (IPP) system.
This phase is the first project of its kind in the Middle East and North Africa region to use the uniaxial solar tracking system to increase energy productivity.
This phase involved the installation of more than 3 million photovoltaic panels.
In September 2017, His Highness Sheikh Mohammed bin Rashid Al Maktoum announced the fourth phase of the complex, the largest single-site CSP project in the world, awarded to the consortium of ACWA Power Saudi Arabia and the Silk Road Fund in cooperation with Shanghai Electric China as the main contractor.
In November 2018, Dubai Electricity and Water Authority (DEWA) signed an amendment to the Power Purchase Agreement (PPA) to add 250 megawatts (MW) of solar PV technology, increasing the total capacity of Phase 4 from 700 to 950 MW.
Common Techniques
The fourth phase uses three common technologies for the production of clean energy, the first is the system of parabolic reflectors with a total capacity of 600 megawatts, the highest solar tower in the world at 262.44 meters with a capacity of 100 megawatts, in addition to solar photovoltaic panels with a capacity of 250 megawatts.
This phase is the largest solar energy storage project in the world, allowing for the availability of solar energy 24 hours a day.
This phase involved the installation of more than 790,000 photovoltaic panels.
As for the parabolic trough reflectors system, more than 63,600 PT parabolic trough collectors have been installed and the project uses 70,000 heliostats, which follow the movement of the sun, with the fourth phase scheduled to be completed in the first quarter of 2024.
CHOICE
In June, His Highness Sheikh Mohammed bin Rashid Al Maktoum inaugurated the fifth phase of the complex, which has a capacity of 900 megawatts, and included the installation of more than 2.2 million photovoltaic panels.
In August, Dubai Electricity and Water Authority (DEWA) announced the selection of Abu Dhabi Future Energy Company (Masdar) - the best diminishing company - to implement the sixth phase of the Mohammed bin Rashid Al Maktoum Solar Park, with a capacity of 1800 megawatts with solar photovoltaic panels under the Independent Energy Product (IPP) system, with investments amounting to about 5.51 billion dirhams.
The Authority was able to obtain the lowest global competitive price of 1.6215 US cents per kilowatt hour for this phase, which will include the installation of more than 3.7 million photovoltaic panels and the sixth phase will be operated in stages between 2024 and 2026.
SHARE
Dubai Electricity and Water Authority (DEWA) organized a virtual forum under the theme “Rule of Law and Sustainability ” to celebrate the International Day of Law, which included a number of events, seminars, awareness brochures and cultural competitions to enrich employees ’ information on legal aspects.
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Its phases total 2,000 MW, create 14,000+ jobs, and serve 320,000 households.

Title:

Content: Shanghai Electric Completes Second 900MW Phase of Mohammed Bin Rashid Al Maktoum Solar Park
SHANGHAI, September 4, 2022 / PRNewswire / – Shanghai Electric has announced the commissioning of the 900MW Phase B of the Mohammed Bin Rashid Al Maktoum Solar Park.
As part of the world ’ s largest photovoltaic power plant under construction, the project will help drive Dubai to upgrade and transform its energy mix by providing 2,268 billion kWh of power supply per year upon completion, enough to service more than 240,000 homes and capable of reducing 1.1 million tonnes of carbon emissions annually.
“We are very proud to see the Solar Park achieve another historic milestone after connecting Phase A to the grid in 2021.
Meng Chuanmin, Project Manager of Phase 5 of the Mohammed Bin Rashid Al Maktoum Solar Park, said: “Now, Phase C is well underway and is expected to be completed in 2023. ”
“The construction of the fifth phase of the Mohammed bin Rashid Al Maktoum Solar Park is characterized by a series of challenges, culminating in the peak of the COVID-19 pandemic that severely disrupted global supply chains.
The team overcame the difficulties and ensured that the procurement and delivery of raw materials for the project were carried out in a timely manner to avoid any delay in overall progress, ” Meng added.
Shanghai Electric has also made great efforts to control costs.
Compared to the pre-pandemic period, container shipping became widely unavailable, with cable transport prices generally increasing by ten times.
To ensure the project is completed on schedule, the team decided to ship the cables via bulk carriers, although the new solution increases the workload.
In addition, due to the natural movement and fluidity of the sand dunes, the team later discovered that the construction site had been lifted by hundreds of thousands of cubic meters compared to the previously surveyed value, adding $3 million to the total cost.
After conducting a thorough investigation and research, Shanghai Electric came up with a plan that helped the team solve the problem while ensuring that there was no interruption in the construction progress.
ACWA Power, owner, developer and operator of Phase 5 of the Mohammed Bin Rashid Solar Park, has appointed Shanghai Electric as an Engineering, Procurement and Construction (EPC) contractor for the project in 2020.
Starting in July 2020, the project consisted of phases A, B and C, with a total installed capacity of 1,050 MW.
With the project ’ s international team employing more than 2,500 workers during the peak period, Shanghai Electric ’ s efforts to unite the best global workforce, resources and supplies to build one of the country ’ s most advanced solar parks have been recognized by the project owner and his partners.
In addition, the project also created more than 4,000 direct jobs and 10,000 indirect jobs, playing a key role in promoting local employment and economic development.
Shanghai Electric also participated in the construction of the 950 MW Mohammed bin Rashid Al Maktoum Solar Park Phase IV, which includes a 700 MW Concentrated Solar Power Plant (CSP) and a 250 MW PV Plant (PV).
Concentrated solar power (CSP) is capable of storing thermal energy during the day, which can later be used to generate electricity at night, providing a clean, stable and reliable power source around the clock.
Since the start of this project in 2018, more than 8,500 workers have been employed during the peak period, and the 100MW CSP Tower and 200MW Equivalent Basin II are scheduled to be connected to the grid by the end of 2022.
It features the world ’ s latest solar technology that will provide clean energy to 320,000 households and reduce 1.6 million tonnes of carbon emissions each year, and goes a long way to helping Dubai achieve its renewable vision for 2050.
About Shanghai Electric
Shanghai Electric Group Co., Ltd. (SEHK: 2727, SSE: 601727) is a world-class high-end equipment manufacturer, focusing on intelligent energy, intelligent manufacturing and intelligent infrastructure to provide industrial-grade green and intelligent system solutions.
It has a global presence in industries such as new energy, efficient clean energy, industrial automation, medical devices, and environmental protection.
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Abu Dhabi’s 2 GW Al Dhafra powers 200,000 homes, cuts 2.4 MtCO2/yr at ~1.32–1.35¢/kWh; falling costs and policy momentum point to solar’s lead.

Title:

Content: Friday 17th November 2023 Abu Dhabi UAE
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Hazza bin Zayed inaugurates world ’ s largest single-site solar power plant
Hazza bin Zayed inaugurates world ’ s largest single-site solar power plant
November 16, 2023 20: 06
His Highness Sheikh Hazza bin Zayed Al Nahyan, Deputy Ruler of Abu Dhabi, stressed that the UAE, under the leadership of His Highness Sheikh Mohammed bin Zayed Al Nahyan, President of the UAE, is continuing its plans to enhance energy security and sources by creating a diversified and flexible mix that contributes to reducing emissions and supporting the national economy and sustainable development efforts.
This came on the occasion of His Highness ’ inauguration in the presence of Lt. General H.H. Sheikh Saif bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Interior, Al Dhafra Solar PV Plant, which has a production capacity of 2 gigawatts and is the largest single-site solar power plant in the world.
“This pioneering project, which comes with the upcoming hosting of COP28, is an example of projects implemented in accordance with national strategies aimed at increasing the share of clean energy, reducing emissions and supporting global efforts to stimulate effective climate action, mitigating the effects of climate change and supporting inclusive sustainable development, ” His Highness said.
“We are witnessing, day after day, and project after project, the realization of the vision of His Highness Sheikh Mohammed bin Zayed Al Nahyan, President of the UAE, to be at the forefront of the world in adopting clean energy and innovative solutions in this field, in order to achieve energy security on the one hand, and contribute to building a prosperous future for generations on the other. ”
H.H. Sheikh Hazza bin Zayed heard from His Excellency Dr. Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology, Chairman of the Conference of the Parties (COP28) and Chairman of Masdar, about the project, its strategic importance and its role in enhancing national energy security. intention annually.
The project was built on a 20-square-kilometre site and created 4,500 jobs during the construction phase.
The plant houses nearly 4 million bifacial solar panels, an innovative technology that enables more efficient electricity generation by capturing solar radiation from the front and back sides of the solar panels.
The Al Dhafra project was established by Abu Dhabi Future Energy Company (Masdar), along with Abu Dhabi National Energy Company (TAQA), EDF Renewables and Genco Power, in collaboration with Emirates Water and Electricity Company (EWEC).
The inauguration ceremony was attended by Suhail bin Mohammed Al Mazrouei, Minister of Energy and Infrastructure, Mohammed Hassan Al Suwaidi, Minister of Investment and Vice Chairman of Masdar, Khaldoon Al Mubarak, Managing Director and Group CEO of Mubadala, Eng. Aweida Murshed Al Marar, Chairman of the Department of Energy in Abu Dhabi, HE Jabr Mohammed Ghanem Al Suwaidi, Minister of State, and Zhang Jimeng, Ambassador of the People ’ s Republic of China to the UAE. Sem Hussain Thabet, Group CEO and Managing Director of TAQA and Board Member of Masdar, Othman Al Ali, CEO of EWEC, Mohammed Jameel Al Ramahi, CEO of Masdar, Bruno Benasson, Executive Vice President of EDF Group, Chairman and CEO of EDF Renewables, and Charles Bay, CEO of International Business Ginko Power ".
The launch of this landmark project comes ahead of the Conference of the Parties (COP28), hosted by the UAE, which in less than 15 years has become a world leader in the field of solar energy, ranking second in the world in terms of per capita solar consumption.
The UAE ’ s renewable energy journey has been underway since 2009 with the launch of Masdar ’ s first 10MW project, leading up to the day when the Al Dhafra plant has a capacity of 200GW.
This mega project, which adds to the UAE ’ s series of achievements in the field of renewable energy, achieved a world record in terms of cost at the time of completion of the project financing deal, reflecting the UAE ’ s firm commitment to reduce carbon emissions nationally and globally.
His Excellency Dr. Sultan bin Ahmed Al Jaber said: “In line with the vision of His Highness Sheikh Mohamed bin Zayed Al Nahyan, President of the UAE, to promote sustainable economic and social development, deploy renewable energy solutions and support climate action, we are proud to inaugurate this national achievement, which represents a new step in the UAE ’ s technological innovation in the field of energy and its approach to building partnerships. ” The development of the Al Dhafra plant is the result of a collaboration between Masdar and three leading companies: TAQA UAE, EDF France and Genco Power China. ”
He added: “Al Dhafra represents a quantum leap in the UAE ’ s strategic plans to ensure energy security and diversify its sources, and achieve a gradual, logical and smart transition in the energy sector, so that this transition is a program and model for sustainable economic and social growth, in parallel with efforts to reduce emissions and find realistic and practical solutions to reduce the impact of climate change. ”
He explained that the launch of this project coincides with the UAE ’ s readiness to welcome the world at COP28 in 14 days, where renewable energy will be the focus of the conference due to its role in reducing emissions, noting that the main goal of the conference is to reduce the impact of climate change and global warming. We are working as COP28 Chair to reach a global consensus on this increase, and through dialogue and communication, 85% of the world ’ s economies have declared their support for this goal, stressing the continued mobilization and consensus to reach a comprehensive global commitment. ”
His Excellency Sultan Al Jaber said: “This project embodies the great ambitions that the world needs and confirms that we are able to find practical and economically viable solutions to the consequences of climate change, and solar energy will play a major role in achieving this goal, especially with great progress in efficiency and cost. ”
He pointed out that the cost of solar energy decreased by about 90% compared to 2010, with expectations to continue to decline by about 50% by 2050, noting that in 2009 the price of the tariff for solar energy was 39.6 US cents per kilowatt-hour.
The Al Dhafra Solar PV Plant, planned and procured by EWEC, set a record cost price for utility-scale solar projects. The project introduced one of the most competitive solar tariffs, at 4.97 fils per kilowatt-hour (1.35 US cents per kilowatt-hour), which was subsequently improved to 4.85 fils per kilowatt-hour. The efficiency of solar cells has improved dramatically over the past decade, from less than 14% to double now, and is expected to continue to improve in the coming years with new generations of solar cells and advanced materials.
His Excellency stressed that, in line with the leadership ’ s directive to build and empower the next generation of young national cadres in the field of renewable energy and sustainability, Masdar focuses on preparing and training young cadres, allowing them to gain knowledge and practical experience and participate in the development and management of the company ’ s projects in more than 40 countries.
His Excellency Eng. Aweida Morshed Al Marar, Chairman of the Department of Energy in Abu Dhabi, said that the launch of the Al Dhafra solar PV plant is a new strategic step that enhances the position of the UAE and Abu Dhabi in the clean and renewable energy sector and its role in driving the growth of the sector in the world. Climate Neutrality Strategy 2050.
He added: “The project will contribute to creating opportunities for sustainable economic and social growth, while balancing sustainable development and mitigating the impacts of climate change, building a knowledge economy, leveraging clean technology, and creating a diverse mix of energy sources. ”
“The launch of the plant is particularly important as it coincides with the UAE ’ s preparations for the COP28 World Climate Conference, which strengthens national efforts to produce solar PV at a competitive cost, and fundamentally supports the diversification of clean and renewable energy sources in Abu Dhabi, as well as DoE ’ s strategies and policies in this regard, ” he said.
Jassim Hussain Thabet, Group CEO and Managing Director, Abu Dhabi National Energy Company (TAQA), said: “As the UAE approaches COP28, the Al Dhafra 2 GW solar PV project demonstrates to the world what can be achieved through a commitment to partnership and technological development.
TAQA is proud of its pivotal role in collaborating with our partners to create the world ’ s largest single-site solar PV plant, the second largest solar power plant in the UAE.
TAQA is also a leader in the transition to cleaner and more sustainable energy, thanks to our portfolio of two of the world ’ s largest solar projects and our primary role in providing grid services.
As a global integrated low-carbon utility company, we are focused on collaborating with partners to provide affordable, safe and sustainable electricity and water to communities across the UAE and beyond. ”
Othman Al Ali, Chief Executive Officer, Emirates Water and Electricity Company (EWEC), said: “EWEC is one of the region ’ s leading players in the transition to renewable and clean energy, and today ’ s launch of Al Dhafra Solar PV, the world ’ s largest single-site solar power plant, marks a major turning point in this important journey.
Alongside the Noor Abu Dhabi plant, the Al Dhafra Solar PV Plant will increase EWEC ’ s solar capacity and significantly reduce the carbon emissions associated with electricity production.
We have also recently developed two new solar plants, similar in size and capacity to Al Dhafra Solar PV, which will make Abu Dhabi home to the world ’ s four largest solar plants. ”
“We expect to add 1 GW per year of new solar projects in Abu Dhabi over the next 10 years, as part of our strategic plan to accelerate decarbonization of energy production, ensure the UAE ’ s leadership in solar energy globally, and promote and diversify the country ’ s economic development to reach its key goal of climate neutrality. ”
Mohammed Jameel Al Ramahi, CEO of Masdar, stressed the importance of the Al Dhafra plant project, which represents a pioneering step for the UAE and a proud achievement for Masdar and its strategic partners, who have been instrumental in achieving this success.
Al Ramahi explained that the development of the world ’ s largest single-site solar power plant is a vivid example of the importance of partnerships and embodies the spirit of entrepreneurship and ambitious vision.
“For more than 17 years, Masdar has been playing an important role in the development of renewable energy projects in the UAE and around the world and we have plans to increase the capacity of our portfolio to 100 GW by 2030.
As the world looks for ways and means to accelerate the transformation of the energy sector, Al Dhafra Solar PV represents a unique model globally to stimulate collaboration and collaboration to build a more sustainable future. ”
Bruno Bennasson, EDF Group Executive Vice President, Chairman and CEO, EDF Renewables, said: “We are honored to have the unique solar plant inaugurated by His Highness Sheikh Hazza bin Zayed Al Nahyan. This milestone would not have been possible without the support of the UAE government and relevant authorities, the Department of Energy, and in particular our client, Emirates Water and Electricity Company. The outstanding performance of the project team, partners and contractors. ”
“At the forefront of COP28, EDF is proud to support the UAE ’ s strategic initiative to achieve climate neutrality by 2050, and remains convinced that to build a carbon-neutral future while maintaining economic development and social prosperity, the world needs, gradually but faster, to evolve towards a mix of low carbon dioxide emission solutions.
This mix of solutions must of course include renewable energies, as well as energy efficiency, nuclear power, carbon capture and storage, as well as clean hydrogen.
In this way, we will combine the needs of energy producers and consumers, from rich and poor countries, from the economy and the environment. ”
Charles Bay, Genco Power ’ s Chief International Business Officer, said: “Today ’ s launch of Al Dhafra reflects a milestone achievement as the world ’ s largest single-site solar project developed in a single phase.
We thank the Government of the Emirate of Abu Dhabi, the Ministry of Energy and Infrastructure, Emirates Water and Electricity Company, our partners and all stakeholders for their support, commitment and contribution to this achievement, which will remain one of the most prominent projects in the history of renewable energy in the world. ”
“Genco Power is proud to develop another record-breaking solar project in Abu Dhabi, following our successful completion of Noor Abu Dhabi under the challenging circumstances of the COVID-19 pandemic.
The inauguration of the plant underscores the importance of the bidding programs designed and implemented by the Abu Dhabi government.
We are fully committed to continuing our contribution to achieving the carbon reduction targets of Abu Dhabi as well as globally. ”
TAQA owns 40% of the Al Dhafra Solar Power Plant, while Masdar, EDF Renewables and Genco Power each hold 20%.
The plant will supply electricity to the Emirates Water and Electricity Company (EWEC) in accordance with a power purchase agreement signed in 2020, and will increase Abu Dhabi ’ s solar power generation capacity to 3.2 GW.
Source: WAM
All rights reserved to Union News Center 2023 ©

UAE tools include an AED 100m solar finance program and an IPP model attracting AED 43.6b.

Title:

Content: The Independent Product Model has attracted projects worth AED 43.6 billion over 10 years.
Dewa: Dubai is a ‘ benchmark ’ for global solar prices
Dubai Electricity and Water Authority (DEWA) has revealed that its adoption of the Independent Energy and Water Product (IPP) model has contributed to attracting investments worth AED 43.6 billion over 10 years.
She stressed that the projects of the “Independent Product Model ” encourage partnership between the public and private sectors, pointing out that through this model, it obtained the lowest international prices per kilowatt hour in solar energy projects, and Dubai became the benchmark for solar energy prices globally.
Attracting Investments
In detail, the Managing Director and CEO of Dubai Electricity and Water Authority (DEWA), Saeed Mohammed Al Tayer, said that DEWA is working in accordance with the vision and directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, to make Dubai a global capital of the green economy.
He added that the Authority has developed the “Independent Energy and Water Product Model ”, taking advantage of the best international experiences and practices, where a model was designed to suit the requirements of the Emirate of Dubai and its legislative and technical environment.
Al Tayer continued: “The adoption of the independent product model has contributed to attracting investments worth 43.6 billion dirhams over 10 years, ” pointing out that the“ independent product ” projects encourage partnership between the public and private sectors, at a time when the Authority obtained through this model the lowest international prices per kilowatt hour in solar energy projects, and Dubai has become the benchmark for solar energy prices globally.
Al Tayer said: “Dubai ’ s regulatory and legislative frameworks that allow private sector participation in energy production projects encourage international investors and developers to participate in the Mohammed bin Rashid Al Maktoum Solar Park projects implemented by the Authority under the Independent Energy Product (IPP) system. ”
“Our projects, based on the Independent Energy and Water Producer Model, support the Dubai Economic Agenda (D33), which aims to double the size of Dubai ’ s economy in 10 years, strengthen its position among the top three economic cities in the world, and contribute to achieving the objectives of the Dubai Clean Energy Strategy 2050 and the Dubai Carbon Neutrality Strategy 2050 to provide 100% of energy production capacity from clean energy sources by 2050. ”
Energy and Water Desalination
Dubai Electricity and Water Authority (DEWA) said it is contributing to attracting foreign investment through its pioneering energy and water projects under the Independent Energy and Water Product (IPP) model adopted since 2014, rather than the Engineering, Procurement and Construction (EPC) model.
One of the Authority ’ s most prominent projects under the “Independent Energy Producer Model ” is the Mohammed bin Rashid Al Maktoum Solar Park, the largest single-site solar park in the world, which will have a production capacity of more than 5,000 megawatts by 2030 with investments of up to AED 50 billion.
The Authority said that it has so far launched five phases of the complex, and is currently working on the implementation of the sixth phase with a capacity of 1800 MW and a cost of about 5.5 billion dirhams, while several international alliances have participated in the implementation of these phases under the leadership of major companies such as ACWA Power Saudi Arabia, and Abu Dhabi Future Energy Company Masdar, among others.
Other energy projects implemented by DEWA under the Independent Energy Product (IPP) system include the 2400 MW Hasyan Natural Gas Energy Complex, one of the largest power plants in the region, based on the latest international technologies in the field of energy production.
The Authority is also working on the implementation of the seawater desalination plant using the “reverse osmosis technology ” in the“ Hasyan Complex ” with a production capacity of 180 million gallons per day, according to the “Independent Water Product Model ”.
The project is the largest of its kind in the world to produce seawater reverse osmosis using solar energy, with an investment of Dh3.400 billion.
1650 foreign investment projects
Dubai Electricity and Water Authority (DEWA) has confirmed that Dubai provides an ideal business environment for investors, and according to the Financial Times – FDI Markets data, it has maintained the number one position globally in attracting foreign direct investment projects for the third year in a row.
In 2023, it attracted 1,650 foreign investment projects worth more than AED 39.2 billion, and these projects contributed to the creation of about 45,000 jobs.
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The UAE targets net zero by 2050 and plans $163.5b for clean energy, including renewables and green hydrogen.

Title:

Content: World Government Summit in partnership with Oliver Wyman
5 urgent actions to reduce 80% of emissions in the Middle East
Governments in the Middle East, which have set ambitious targets for climate neutrality in the coming years, may face real challenges related to limited technological solutions and the potential for their economic and social growth levels to be affected if national priorities and strategies are not aligned.
He recommended five urgent actions to support the efforts of governments in the region to reduce current emissions by 80%.
The report, prepared by the summit in partnership with Oliver Wyman, a consulting firm, titled “Sustainable Policies for Climate Action in the Middle East, ” noted that governments in the region recognize the importance of reducing emissions, prompting the UAE to pledge to achieve climate neutrality by 2050.
Mohammed Yousef Al Sharhan, Deputy Director of the World Government Summit Foundation, stressed that the report reflects the role of the Summit in employing modern technologies to meet the challenges of the environment and climate change, and reduce carbon emissions.
The report recommended focusing on five actions, the first being the application of CCS and CCU in the energy and industrial sectors, where the impact is expected to be a 22% reduction in emissions.
Second, reducing emissions in building heating and cooling, which is expected to reduce emissions by 20%.
The third measure is to increase power generation with low emissions, the impact of which is expected to reduce emissions by 18%, while the fourth measure is to target emissions in logistics and transport, contributing to a 10% reduction in emissions.
The fifth measure is to increase energy efficiency in industrial processes, with the effect expected to be a 7% reduction in emissions.
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Saudi projects include a 2.06 GW solar plant and a 2.2 GW NEOM project producing 600 t/day green hydrogen.

Title:

Content: It produces 600 tons of green hydrogen per day.
NEOM is preparing to launch the largest photovoltaic power plant in the Middle East
Thursday 10 August 2023 9: 57 AM
The Citizen - Translated by Hala Abdulrahman
NEOM Green Hydrogen Company plans to produce 600 tons of environmentally friendly gas per day, generating a demand of at least 4 watts of solar PV and wind power, as the management of the mega project contracted with a Chinese company to ensure that the plant is fully operational on a daily basis.
NEOM deal with a Chinese company
In a statement, China ’ s Sungrow announced that it has signed a contract with Larsen & Toubro to supply inverters for the 2.2GW solar PV plant, the largest utility-scale single-site solar PV plant in the Middle East, designed to power the NEOM Green Hydrogen Production Project in Saudi Arabia by the NEOM Green Hydrogen Company (NGHC).
The NEOM project will produce carbon-free hydrogen using renewable energy sources from wind and solar power to produce up to 600 tonnes per day of green hydrogen by the end of 2026.
The project will mark a milestone in Saudi Arabia ’ s progress towards achieving Vision 2030 and creating a clean and sustainable energy future.
NEOM Green Hydrogen Package Details
Sungrow is heavily involved in the NEOM green hydrogen project, and earlier Sungrow signed a contract with Larsen & Toubro to supply 400 MWh energy storage systems that include 536 MWh / 600 MWh DC capacity for the NEOM project.
Sungrow ’ s supply of 2.2GW Sungrow 1 + X Modular Inverter for the solar PV plant is a strong contribution of its kind to a historic and giant project such as the NEOM Green Hydrogen Project.
NEOM Green Hydrogen Project Objectives
NGHC ’ s giant Neom Hydrogen plant in Oxagan, Saudi Arabia, is expected to produce up to 600 tonnes per day of carbon-free hydrogen by the end of 2026, and will supply 4 watts of wind, solar and battery power, using more than 2 gigawatts of hydrogen electrolysis.
The project is the cornerstone of Saudi Arabia ’ s Vision 2030 project, which promises investments of up to $500 billion to build a linear city called Neom, 170 kilometers east of the Red Sea.
Importance of NEOM for Europe and Asia
The NGHC aims to produce green hydrogen on a large scale for global export in the form of green ammonia with a total investment of $8.4 billion.
Supported by 23 local, regional and international banking and financial institutions, the project achieved a full financial closure in May 2022, leading to the award of long-term contracts.
Saudi Arabia also has sun and air, infrastructure, ports and geographical proximity to Asian countries, as well as fossil fuels, which are an important component of hydrogen production, making it Asia ’ s preferred customer for green hydrogen.
Europe also needs 20 million tons of green hydrogen annually, of which at least 10 million tons are imported from outside the European Union, according to the latest European studies.

Saudi Arabia targets 50% renewables by 2030 and net zero by 2060, with pledges and clean-energy investment anchoring strategies and regional cooperation.

Title:

Content: Middle East Climate Week looks at renewable energy transition and carbon reduction
During a panel discussion focused on the Kingdom ’ s high energy and efficiency records
The “Middle East and North Africa Climate Week 2023 ”, hosted by the Kingdom of Saudi Arabia, in coordination and cooperation with the United Nations Framework Convention on Climate Change (UNFCCC) Secretariat, discussed on the third day the transition of renewable energy and the reduction of carbon emissions.
The panel discussion, entitled “Accelerating the Transition of Renewable Energy and Reducing Carbon Emissions ”, tackled carbon emissions mitigation and climate change, and the programs and initiatives adopted by the Kingdom to address climate change.
The speakers – Senior Sustainability Advisor to the Minister of Energy, Chief Negotiator of the Kingdom ’ s Climate Agreements, Dr. Khalid Al Meheid, Undersecretary of the Ministry of Energy for Electricity Nasser Al Qahtani, SPPC CEO Mazen Al Bahkali, ACWA Power ’ s Vice Chairman and Managing Director Raad Al Saadi, and Saudi Energy Efficiency Center General Manager Nasser Al Ghamdi – discussed the objectives of the Kingdom ’ s energy programs, priorities, needs, resources and funding sources. and current solutions.
They addressed the Kingdom ’ s high energy and efficiency records, touching on hydrogen from manufacturing to strengthening regional and international supply chains, pointing to the vast areas that enable solar and wind energy projects and clean energy exports with international connectivity.
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In the GCC, solar PV is the cheapest power (~$2/kWh).

Title:

Content: IRENA offers great opportunities for GCC leadership in the renewable energy sector
T + T - normal size
The International Renewable Energy Agency (IRENA) has confirmed that the GCC countries have great opportunities to become a leading global hub for renewable energy, climate action and economic diversification.
In a report entitled “Renewable Energy Markets: GCC 2023 ”, the agency highlighted the opportunities for GCC countries to use their existing resources to develop innovative renewable energy solutions that contribute to reducing the impact of climate change, diversify their economies, create new jobs and reduce the environmental impact of the energy sector.
As the United Nations Climate Change Conference (COP28) takes place in the Gulf Cooperation Council (GCC) region, in Dubai, the new IRENA report is a resource for policymakers, business and society to tap into the region ’ s vast potential from this renewable energy resource.
Solar PV is now the least expensive option to produce energy in the GCC at less than $2 per kilowatt-hour, outpacing the cost of generating power using natural gas, liquefied natural gas, oil, coal and nuclear. Low generation costs and abundant solar and wind resources in the region open the door to adopting innovative energy technologies to produce resources such as green hydrogen competitively.
Francesco La Camera, Director General of the International Renewable Energy Agency (IRENA), said: “The GCC region has a unique opportunity to maintain its leading role in the international energy market as the world enters a new energy era, and this momentum is growing in the region as the GCC countries develop ambitious renewable energy and hydrogen strategies and continue to implement their zero-emission commitments.
La Camera added: Renewable energy sources have become cost-effective in the GCC. Very successful achievements have brought solar PV prices to record levels globally, enhancing their economic viability and paving the way for the inclusion of large shares of renewable energy sources in the electricity mix.
To translate ambitious goals into reality on the ground, more sustained action is needed.
Production Capabilities
The report highlights the significant increase in renewable energy production capacity in the GCC, from 176 megawatts in 2013 to more than 5.6 gigawatts in 2022.
However, renewables still represent a small fraction of the region ’ s electricity generation capacity, while energy end-uses continue to rely on fossil fuels.
Public investments in infrastructure and value chains can stimulate and enable the deployment of renewable energy while enhancing the benefits associated with it.
The report stresses the importance of building on existing energy infrastructure, including the promotion of regional connectivity and infrastructure development to support the deployment of renewable energy sources in end-uses such as transportation.
The report emphasizes that GCC countries have an opportunity to play a greater role in achieving global energy and sustainability goals, both domestically and internationally.
The report concludes that GCC countries are well positioned, in addition to continuing their efforts at national levels, to support the energy transition in developing countries through joint international investments in renewable energy.
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Jordan targets 50% renewables by 2030; Baynouna produces 560 GWh/yr for 160,000 homes.

Title:

Content: Economy of Jordan
Jordan Opens Largest Solar Power Plant in Partnership with Masdar
200 MW capacity
Posted in: Last Updated:
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Jordanian state television said on Saturday that Jordan has opened its largest solar power plant with a capacity of 200 megawatts.
The television added on its official Twitter account that the project is a partnership between the Jordanian National Electricity Company (JNEC), Abu Dhabi Future Energy Company (Masdar) and Finnish investment group Taleri.
The project contributes to supporting the achievement of the Kingdom ’ s objectives related to climate and clean energy, in addition to providing new job opportunities and supporting the economic development process.
The Baynunah plant is the largest project of its kind in Jordan, launched by Baynunah Solar Company, a joint venture between Abu Dhabi Future Energy Company (Masdar), a global leader in renewable energy, and Finnish investment and asset management group Taleri.
The project contributes to providing half of Jordan ’ s electricity needs from renewable sources by 2030 as a strategic goal, and the Baynouna solar power plant produces more than 560 GWh of energy annually, enough to meet the annual energy needs of nearly 160,000 homes.
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Jordan offers 0% loans for solar up to $28,100; Iraq targets 10,000 MW by 2025 with a $680m fund; concessional loans, net metering, and low-interest finance are expanding in Jordan, Lebanon, Kuwait, and Iraq.

Title:

Content: Among them Iraq.
5 Arab Countries Leading Solar Energy Support Programs
2023-11-07 | 02: 22
Alsumaria News – Economy
Solar subsidy and loan programs in Arab countries continue at a time when the need for alternative energy sources is acute, as the effects of climate change intensify, and the global energy crisis that began with the Russian invasion of Ukraine on February 24, 2022 intensifies.
Solar energy in Iraq, Jordan, Lebanon, Egypt and Kuwait receives official support, either through direct legislation approved by the parliaments of these countries, or through loans made available by government and official banks there, or through national and national projects provided by the ministries of energy and electricity, according to the specialized energy platform.
In the coming years, support for solar energy in Arab countries is expected to gain momentum, with many declaring their commitment to achieving carbon neutrality by mid-century and plans to increase the contribution of renewable energy to their electricity mix by 2050.
* Support for solar energy in Jordan
The most prominent support received by solar energy in the Arab countries is that provided by Jordan, through a range of programs supervised by the Ministry of Energy and Mineral Resources, as the solar loan project in Jordan witnessed a new step on Sunday, October 29, as part of efforts to motivate citizens to adopt clean energy.
The Agricultural Credit Corporation signed an agreement with the Renewable Energy Promotion Fund to support the second phase of the program to install solar cell systems for farmers to cover the interest on the loans, according to a press release.
* Solar Loans in Jordan
The Minister of Agriculture and Chairman of the Agricultural Lending Corporation, Khalid Al-Hanifat, said that the agreement will reduce the cost of production for farmers, as it targets all animal and plant agricultural activities, as it covers beneficiaries with a ceiling of 20 thousand dinars (28.1 thousand US dollars) without interest.
At the same time, Jordan is preparing for the third phase of the strongest support program witnessed by solar energy in the Arab countries, the installation of solar cells in homes, the second phase of which ended in July 2023, according to information monitored by the specialized energy platform.
This program aims to support the use of solar energy in Jordanian homes, as well as the installation of solar heaters, which will reduce the cost of electricity for citizens, while reducing the energy import bill for the state.
* Solar Loans in Lebanon
As part of the efforts to support solar energy in the Arab countries, the Lebanese effort, which aims to alleviate the energy crisis, is highlighted through an important program to grant solar energy loans, which are an appropriate and sustainable solution to overcome the energy threat, as described by the Lebanese government a year ago.
The installation of solar energy in the homes of Lebanese will solve the crisis of high electricity bills, as these loans are provided to the low- and middle-income by the initiative "Loans to the low- and middle-income", in cooperation with the Lebanese Center for Energy Conservation.
Loans for the installation of solar energy systems and plants in Lebanon range from 75 million to 200 million liras ($2,590 to $6,900) per person, up to a maximum of 80% of the project cost, and at an interest rate of 4.99% per annum, depending on the specialized energy platform.
* Information on Solar Loans in Lebanon
It is noteworthy that the solar energy market in the Arab countries is witnessing increasing growth, especially in Lebanon, which, despite its major crisis, witnessed during 2020 about 313 projects authorized, with a capacity of 14 MW, before this number increased, and the country records 662 applications for the installation of solar plants, during the period from October 2021 to March 2022.
According to the Lebanese Center for Energy Conservation, the installation of solar power plants in Lebanese homes will save citizens the value of high bills, which makes them able to save the value of the loan within two to three years, especially since the repayment is limited to paper lira only.
Solar energy in Egypt
In August 2023, the Committee on Energy and Environment in the Egyptian House of Representatives set a number of rules to increase the number of small household units to consume electricity from solar energy, as part of its recommendations on the Economic and Social Development Plan for 2023-2024.
The Committee stressed the need to develop alternative renewable sources of energy, to take action to mitigate and adapt to climate change and its consequences, while working to reduce greenhouse gas emissions, and to accelerate the transition to low-carbon vehicles.
Solar energy in Egypt
Prior to these directives, Egypt witnessed one of the strongest solar energy subsidy programs in the Arab countries, with four banks, including government banks, providing loans of large amounts to support the installation of solar energy systems and their stations for homes, through various repayment programs.
HSBC Egypt, one of the largest solar loans in the Arab world, is offering EGP 2 million ($64,675) with a repayment period of about seven years, while QNB is offering a loan of EGP 400,000 ($12,930) for seven years.
Misr State Bank also offers a financing program worth up to EGP 500,000 ($16,168) and a repayment period of up to 10 years, while the Commercial International Bank (CIB) offers a loan worth EGP 350,000 ($11,300) with a repayment period of 5 years.
* Solar energy in Kuwait
As the State of Kuwait prepares to complete new phases of the Shaqaya CSP project, the State continues to encourage citizens to use solar energy in their homes, as part of its drive to achieve carbon neutrality and reduce emissions by mid-century.
The State of Kuwait adopts a unique approach that distinguishes it from all consumers of solar energy in the Arab countries, as it encourages citizens to sell electricity in excess of their consumption to the government, generated from solar panels installed on rooftops.
* Solar energy in Kuwait
According to an analysis by Mordor Intelligence, seen by the specialized energy platform, the solar energy market in Kuwait is expected to register a compound annual growth rate of more than 7%, especially as this market is achieving a significant recovery, despite the damage caused by the outbreak of the Coronavirus three years ago.
Despite this, Kuwait ’ s solar market is not growing in line with expectations, as initial spending is large, and there is a lack of multiple government programs during the forecast period, but over time internal subsidies continue, leaving the country with the most important solar projects in the Arab countries.
At the same time, the Kuwaiti government is working to provide solar energy to citizens by building huge power plants from an inexhaustible renewable source, especially as Kuwait enjoys a very high brightness, which qualifies it to enter this market from its widest doors.
Iraq to finance solar installation
As Iraq faces one of the difficult electricity crises, caused by the lack of Iranian gas supplies, and seeks alternative sources, both external (such as Qatari gas) and internal (such as the tendency to burn gas associated with electricity generation), Baghdad continues to provide one of the most important forms of solar energy subsidies in Arab countries.
In January 2022, the Central Bank of Iraq issued controls to finance electricity generation systems from renewable energy, as the governor of the bank signed the first circular that allows citizens and institutions to buy systems and power plants from solar energy.
Solar energy in Iraq
This initiative is in line with the State ’ s commitment to the decisions of the Paris Climate Conference, as the interest on loans provided to citizens to install solar power plants did not exceed 1%.
While the value of loans ranged between 7 million Iraqi dinars (4 thousand and 800 dollars) for stations 3 kilowatt hours, and one billion dinars (685 thousand dollars) for large projects in residential squares, according to the website of the Central Bank of Iraq.
Source: Energy Platform
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Egypt targets 42% renewable electricity by 2035 and has 1,808 MW of solar, including Benban.

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Content: Solar power in North Africa is a green dream that needs government support
Announcement
Cairo (AFP)
North Africa ’ s year-round sunshine presents a huge opportunity to harness this amount of solar energy, but the scale of investment and government support required for large-scale projects is challenging countries in economic straits.
Although the region has some of the largest projects in the world, renewable energy entrepreneurs believe that the focus should be on the community level, helping entire villages tap out of local grids and without using diesel fuel.
Egypt, the most populous Arab country with more than 100 million people, has put solar energy at the top of its priorities and aims to generate about 42% of its electricity from renewable energy by 2035.
According to official statistics, the percentage of electricity generation from renewable energy sources in Egypt reached 9% until 2016.
In the Western Desert, about 40 kilometers (25 miles) north of the southern city of Aswan, the Benban complex was built to generate electricity with solar energy.
The massive Benban project, which can be seen from outer space and funded by the World Bank at a cost of $4 billion, is the fourth largest solar power plant in the world and covers an area of more than 37 square kilometers.
Benban, which was connected to Egypt ’ s national electricity grid in 2019, has six million solar panels and currently produces 930 megawatt-hours a year, enough to power 420,000 homes, according to the United Nations.
- Incentives.
Experts say the Egyptian government needs to offer incentives if it expects to accelerate solar projects, especially since the number of consumers who have the means or space to switch to solar energy to meet household needs is not large.
Mohammed Abdel Raouf, an expert in green economics in the region, told AFP: “It can be difficult to install solar panels in Cairo, because you need a lot of space above buildings and they don ’ t cover all your electricity needs, such as running an air conditioner during the summer. ”
He adds that tourist resorts on the coasts of the Red Sea and the Mediterranean as well as the countryside may be the most suitable soil for applying this shift in reliance on solar energy.
Abdel Rauf believes that “the state needs to motivate the average consumer, ” noting that one house in Cairo costs“ about 60,000 pounds (about $3,800) to switch to solar energy. ”
"Why invest in expensive environmentally-friendly technology?"
The state really needs to make the initiative attractive. ”
According to the International Energy Agency, over the past decade, North African countries have increased their renewable energy production by 40%, but this has not reduced fossil fuel use.
In Algeria, an oil-rich country that enjoys about 3,600 hours of sun a year, renewable energy accounts for only 1.8% of the country ’ s consumption.
- "Scary projects" -
In Morocco, particularly in the city of Ouarzazate, the giant Noor solar power complex, with four power plants, embodies the green state strategy.
The project, which is the largest for multi-technology solar power plants in the world, has a capacity of 530 megawatts.
But Rabat is selling its green power at a loss, with generation costs double the price it sells to the national grid.
Energy management expert Saeed Jamra told AFP: “From the beginning it was clear that the strategy was unbalanced.
The mistake was the desire to invest in huge projects that are difficult to finance. ”
To date, the Moroccan Agency for Sustainable Energy, which manages the Noor complex and is privately owned and publicly funded, owes more than €85 million.
Ahmed Zahran, CEO of Cairo-based solar startup Karam, said it was time to move away from the model of selling electricity to the state and toward a public-private partnership like Benban.
"The business model is very offensive and not comprehensive.
Companies are focused on selling electricity to one party (the state) and are not interested in participating in the infrastructure of the countries in which they operate. ”
“So companies are always seen as opportunistic investors trying to get specific contracts, so it ’ s better to work with the government. ”
Zahran, the first private company to obtain a power distribution license in Egypt, is designing solar-powered buildings and water pumping systems to help villages beyond national grids and without using diesel fuel.
“We realized that our future is not in being a solar developer but in being a utility-scale solar company.
We are working on the entire infrastructure from the construction of the power plant, the construction of the distribution network..
everything. "
On its website, Zahran says it has allowed the use of 2.3 million liters of diesel fuel to produce 10,000 tons of CO2 by installing more than 71 megawatts of solar power.

Egypt provides tax and tariff exemptions, subsidies, and grants under its Electricity and Investment Laws.

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Content: Egypt ’ s move towards renewable energy represents a major shift in its energy policy, reflecting global sustainability trends and local environmental needs.
This detailed analysis explores Egypt ’ s legal framework for renewable energy projects, highlighting growth opportunities and regulatory challenges that must be overcome.
Aspirations for renewable energy and strategic plans
Egypt has set targets looking to increase its renewable energy production in line with global initiatives such as the Paris Agreement to combat climate change, and this commitment is reflected in Egypt ’ s strategic plans, which outline the goals and mechanisms needed to integrate renewable energy into the national electricity grid.
The legal framework governing renewable energy in Egypt
Central to Egypt ’ s renewable energy policy is the Electricity Law No. 87 of 2015 and its subsequent amendments. These legal provisions create a regulated environment for the development and regulation of renewable energy sources. The law gives the Egyptian Electricity Regulatory Authority the authority to oversee and implement regulations, ensuring effective and sustainable management of the sector ’ s growth.
Government incentives and international cooperation
The Egyptian government has provided various incentives under these laws to encourage investment in the renewable energy sector, including tax exemptions, tariff exemptions, and other financial incentives designed to make renewable energy projects more feasible and attractive to investors.
Emerging investment landscape in renewable energy
Egypt ’ s move towards renewable energy has opened up new investment opportunities, especially in the solar and wind sectors, as the liberalization of the energy market has made it accessible to private investors, both local and international. Successful renewable energy projects in Egypt are a testament to the sector ’ s potential, as they provide useful insights into market dynamics and future growth trajectory.
Detailed legal framework for renewable energy
The Electricity Law No. 87 of 2015 and its amendments form the basic legal structure governing the production, distribution and regulation of electricity, including renewable energy. This law defines the roles of various government agencies, such as the Egyptian Electricity Regulatory Authority (ERA), in overseeing the sector, paving the way for private sector participation and introducing regulatory mechanisms such as feed-in tariffs, which have been effective in attracting investments.
Renewable Energy Law and Investment Law
Egypt ’ s Renewable Energy Law and Investment Law form an important part of the state ’ s approach to advancing the renewable energy sector, and the Renewable Energy Law specifically addresses the development, promotion and use of renewable energy sources such as solar, wind and hydropower.
It also provides a legal framework for various renewable energy initiatives, detailing the responsibilities of both public and private entities involved in the production and distribution of renewable energy, and plays a key role in establishing regulatory mechanisms, including the establishment of feed-in tariffs, which are designed to offer attractive prices for renewable energy that feeds the national grid, thus stimulating private investment.
The Investment Law, especially Law No. 72 of 2017, complements the Renewable Energy Law by providing a set of financial incentives to promote investment in the renewable energy sector, including tax exemptions, where new investments in renewable energy can be exempted from certain taxes for a specific period.
In addition, the law provides for lower tax rates on profits generated by renewable energy projects, making these projects more financially attractive, and other benefits under the investment law may include exemptions from customs duties and other fees on equipment and machinery imported for use in renewable energy projects.
Together, these laws aim to create a supportive and financially viable environment for renewable energy projects and encourage local and international investors to participate in Egypt ’ s renewable energy sector. The government ’ s focus is not only to increase renewable energy production, but also to ensure that these projects contribute to sustainable economic growth and environmental conservation.
Regulatory Challenges and Bureaucratic Obstacles
Despite the supportive legal framework, developers often face challenges in dealing with the bureaucratic landscape, where the process of obtaining licenses and approvals can be complex, involve multiple government bodies and rigorous environmental assessments, and delays in these processes can hinder project timelines and affect the overall viability of renewable energy projects.
Andersen Egypt has expertise in liaising with government bodies and obtaining the necessary permits and approvals for large-scale renewable energy projects.
Environmental impact assessments and approvals
Despite the supportive legal framework, developers often face challenges in dealing with the bureaucratic landscape, where the process of obtaining licenses and approvals can be complex, involve multiple government bodies and rigorous environmental assessments, and delays in these processes can hinder project timelines and affect the overall viability of renewable energy projects.
Andersen Egypt has expertise in liaising with government bodies and obtaining the necessary permits and approvals for large-scale renewable energy projects.
Environmental impact assessments and approvals
Despite the supportive legal framework, developers often face challenges in dealing with the bureaucratic landscape, where the process of obtaining licenses and approvals can be complex, involve multiple government bodies and rigorous environmental assessments, and delays in these processes can hinder project timelines and affect the overall viability of renewable energy projects.
Andersen Egypt has expertise in liaising with government bodies and obtaining the necessary permits and approvals for large-scale renewable energy projects.
Environmental impact assessments and approvals
EIA ensures that environmental considerations are integrated into project planning and implementation. Obtaining approval for EIA can be a major hurdle, and requires thorough documentation and adherence to environmental standards.
Incentives to develop renewable energy
The Egyptian government offers several incentives to encourage the development of renewable energy in Egypt. These include tax incentives, duty exemptions and preferential tariffs under the “feed-in tariff ” system. These incentives aim to ease the financial burden on developers and make renewable energy projects more economically viable.
The following incentives can also be applied to large-scale renewable energy projects in Egypt:
A feed-in tariff system (FiTs) is a system of prices set by the Egyptian government that allows producers to sell renewable energy to the national grid, providing long-term contracts and ensuring a stable and predictable revenue stream for renewable energy projects.
• Tax incentives: Reductions in corporate income tax rates, exemptions from customs duties and sales taxes on imported renewable energy equipment, and other tax-related benefits are available to encourage investment in renewable energy
• Government subsidies and grants: direct financial contributions to reduce the initial capital costs of establishing renewable energy projects.
Land allocation: The government may offer land at subsidized prices or on special terms for the construction of renewable energy facilities, especially in areas with high renewable energy potential.
Regulatory support: Simplified approval and licensing procedures help reduce bureaucratic hurdles and accelerate the implementation of renewable energy projects.
Opportunities in the Renewable Energy Sector
Egypt ’ s evolving legal and regulatory environment offers significant opportunities for growth in the renewable energy sector. The government ’ s commitment to increasing renewable energy production has opened up prospects for investment, especially in solar and wind power. The sector ’ s potential is further enhanced by Egypt ’ s geographical advantages, such as high solar radiation and favorable wind conditions.
Challenges in Egypt ’ s Renewable Energy Sector
Dealing with the regulatory environment for renewable energy projects in Egypt poses many challenges.
They include:
Complex approval processes: Obtaining the necessary permits and approvals can be time-consuming and complex, involving multiple government bodies.
Infrastructure Development: Adequate infrastructure is still being developed to support renewable energy projects, including grid connectivity.
Despite government incentives, securing financing for renewable energy projects can be difficult due to anticipated risks and high upfront costs.
Market volatility: The renewable energy market is subject to fluctuations in technology costs, global energy prices and policy changes, which may affect the viability of the project.
• Technological advancements: Keeping pace with rapid technological advances in renewable energy while complying with regulatory standards is a major challenge.
Opportunities for growth and development
Despite these challenges, Egypt ’ s renewable energy sector offers many opportunities:
Government support and incentives: Strong government support for renewable energy, manifested in its legal framework and incentives, creates an enabling environment for growth.
Geographical advantages: Egypt ’ s geographical location provides an abundance of solar and wind energy resources, making it an ideal location for renewable energy projects.
• Private sector participation: The liberalization of the energy market has opened doors for private sector investment, both domestically and internationally.
• Sustainable Development Goals: In line with global sustainability goals, renewable energy projects in Egypt contribute to environmental conservation and economic diversification.
• Job creation and economic growth: The renewable energy sector has the potential to create jobs and stimulate economic growth, contributing to the overall development of Egypt.
Concluding remarks
The Egyptian legal framework for renewable energy projects, which is characterized by a mixture of opportunities and challenges, is a reflection of the country ’ s commitment to sustainable energy development, and although dealing with the regulatory trend may be complicated, the potential rewards and opportunities to achieve the desired goals are great.
As Egypt continues to improve its legal and regulatory environment, maintaining flexibility will be key for companies looking to take advantage of opportunities in this dynamic sector.
The content of this article is intended to provide a general guide to the subject matter.
Specialist advice should be sought about your specific circumstances.

Qatar has 875 MW of solar and targets 5 GW by 2035.

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Content: Qatar Energy announced on Tuesday that its affiliate QatarEnergy Renewable Solutions, has awarded the Engineering, Procurement and Construction (EPC) contract for its Industrial Cities (IC) solar power project to South Korea’s Samsung C&T.

The approximately 2.3 billion Qatari riyal ($632 million) IC Solar project, which consists of two large-scale photovoltaic (PV) solar power plants with a combined capacity of 875 megawatts (MW), is Qatar’s second utility-scale solar project after the 800 MWp Al Kharsaa Solar PV Independent Power Plant (IPP), which is currently under construction.

The project’s power generation capacity is strategically distributed between the two main industrial cities in Qatar, Mesaieed Industrial City (MIC) and Ras Laffan Industrial City (RLIC), Qatar Energy said in a press statement.

The MIC plant will have a capacity of 417 MW while the one in RLIC will have a capacity of 458 MW, the statement said, adding that the two plants, spread over a combined area of 10 square kilometres, are expected to start electricity production by the end of 2024.

The statement noted that the IC Solar project will increase Qatar’s renewable energy generation capacity to 1.675 gigawatts (GW).

Qatar is targeting 5 GW of solar generated power by 2035.

The statement also said the output of both plants will contribute to the reduction of QatarEnergy’s GHG footprints from its facilities in RLIC and MIC, mainly its NFE and NFS LNG expansion projects, in addition to expanding grid capacity in other locations.

(Writing by SA Kader; Editing by Anoop Menon)

(anoop.menon@lseg.com

Oman targets 16% renewables by 2025 and 30% by 2030, and is forecast among the fastest-growing by 2028.

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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).

Egypt uses competitive bidding and feed-in tariffs; the UAE uses IPP frameworks and targeted finance.

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Content: Launched by Emirates Development Bank
New Program for Financing Solar Energy Projects
Emirates Development Bank (EDB) has launched a special program to finance solar energy projects, the first of its kind, which aims to enhance the capacity of micro enterprises and small and medium enterprises in the country to adopt renewable energy solutions by allocating 100 million dirhams for this purpose.
The program is part of the bank ’ s efforts to support sustainability and the transition to clean energy sources, where it supports companies to overcome financial obstacles that may prevent the adoption of sustainable business practices, by providing renewable energy financing on competitive terms and conditions, by providing facilities for structured finance and solar panels with repayment periods of up to eight years, grace periods of up to half a year, and 100% of the value of the project, according to the estimated value.
Through a smooth application process, the programme provides medium- and long-term working capital financing facilities of up to AED 5 million, including support to solar technology and equipment suppliers, energy users in all sectors and other related energy sectors, such as electricity, hydrogen production and use, waste management and desalination plants.
Ahmed Mohammed Al Naqbi, Chief Executive Officer of the Emirates Development Bank, said: “The bank provides a competitive source of funding to help companies in the country transition to sustainable energy solutions, reducing reliance on non-renewable energy sources and contributing to addressing climate change. ”
“The launch of the programme is important as it coincides with the hosting of the Conference of the Parties (COP28) in the UAE this year, ” he said.
The program includes capital expenditure financing for solar panels and structured financing facilities for new and existing projects in other renewable energy sectors.
Print

MENA green finance hit $24.55b in 2021, and the region could supply 10–20% of global hydrogen, earning $120–200b/yr by 2050.

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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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