The Middle East is shifting towards renewable energy, with several countries heavily investing in solar energy.

The region has high solar energy potential, with 2,000 kilowatt-hours per square meter per year.

In the MENA region, solar energy accounts for over 2% of the energy mix, with fossil fuels making up 87%.

The UAE aims for 100% clean energy by 2050, driven by the Mohammed bin Rashid Al Maktoum Solar Park, which will have over 5,000 megawatts capacity by 2030.

Arab countries aim to add 73GW of solar and wind capacity by 2030, with Saudi Arabia and the UAE targeting 50% renewable and clean energy by 2030 and 2050, respectively.

The UAE and Saudi Arabia have invested in vehicles, with the UAE investing nearly $8 billion in NIO and Saudi Arabia $40 billion in high-tech vehicles.

The Middle East PV market is expected to be worth nearly $1 trillion by 2030.

The UAE is investing $163.5bn in clean energy by 2050, including a 2-gigawatt solar plant and a 5-gigawatt Mohammed bin Rashid Solar Park.

The Benban Solar Park in Egypt has a 1,800-megawatt capacity, valued at $4 billion, and features 7 million photovoltaic panels across 41 plants.

The Gulf of Suez Wind Project has a 1,100 megawatt capacity, reducing 2.4 million tons of CO2 emissions and powering one million households.

Scatec has signed a cooperation agreement for a 1 GW solar project with 200 MWh battery storage in Egypt.

The region's energy transition is expected to boost the local economy and climate goals by reducing carbon emissions and increasing renewable energy use.

The region's energy transition is driven by government incentives, like Dubai's Clean Energy Strategy 2050, to promote solar energy and reduce emissions.

The UAE aims to achieve climate neutrality by 2050 by reducing emissions 22% through methods like carbon capture.

The country plans to decrease building emissions by 20% and power generation emissions by 18%.

The Middle East is shifting towards renewable energy, with several countries heavily investing in solar energy.

Title:

Content: Morocco will commission three large solar power plants within a landmark strategy launched in 2009 to boost renewable sources to more than half its energy mix.

Addressing a seminar in Rome on Monday, Prime Minister Aziz Akhannouch said the three new projects are based in the mountainous town of Midelt in central Morocco.

“We have plans to commission three new solar power plants in Midelt in 2027 at the latest…these projects will sharply expand the country’s renewable energy generation,” he said in his comments, published by Hespress and other Moroccan newspapers.

Akhannouch said renewable sources now account for nearly 40 percent of Morocco’s electricity production and the level is poised to rise to 52 percent by 2030.

He also said Morocco counts on its “geographic and strategic” location to become a major producer of green hydrogen.

(Writing by Nadim Kawach; Editing by Anoop Menon)

(anoop.menon@lseg.com)

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The region has high solar energy potential, with 2,000 kilowatt-hours per square meter per year.

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.

In the MENA region, solar energy accounts for over 2% of the energy mix, with fossil fuels making up 87%.

The UAE aims for 100% clean energy by 2050, driven by the Mohammed bin Rashid Al Maktoum Solar Park, which will have over 5,000 megawatts capacity by 2030.

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Content: DEWA briefs Dominican delegation on its sustainable initiatives
T + T - normal size
Dubai Electricity and Water Authority (DEWA) received a high-level delegation from the Dominican Republic, headed by Rafael Orlando Gómez del Judes, Deputy Minister of Energy, to learn about DEWA ’ s pioneering projects and initiatives in the field of clean, renewable and sustainable energy, as well as its best practices and international experiences.
According to a study conducted last year by a specialized global consultant, the Authority ranked first globally in more than 10 key performance indicators in its field.
H.E. Saeed Mohammed Al Tayer, Managing Director and Chief Executive Officer of TRA, said: “We are pleased to share our successful experiences and experiences with private and government entities and institutions from various friendly countries, and to strengthen cooperation and joint action to ensure a more sustainable and green future for all. ”
He added: “The growing global interest in DEWA ’ s projects and initiatives reflects the strides we have made to accelerate the energy transition and achieve a green economy, in line with the UAE ’ s Strategic Climate Neutrality Initiative 2050, Dubai Clean Energy Strategy 2050 and Dubai ’ s Carbon Neutrality Strategy 2050 to provide 100% of energy production capacity from clean energy sources by 2050. ”
During the visit, the delegation toured the Mohammed bin Rashid Al Maktoum Solar Park, the world ’ s largest single-site solar park under the Independent Energy Producer (IPP) system, which will have a production capacity of more than 5,000 megawatts by 2030.
The delegation was closely acquainted with the Green Hydrogen project, which was implemented by the Authority at the complex, and is the first of its kind in the Middle East and North Africa region to produce hydrogen using solar energy.
During their visit to DEWA ’ s Innovation Centre, Dr. Aisha Al Nuaimi, Director of DEWA ’ s Innovation Centre, accompanied the delegation in the Innovation Centre ’ s exhibition area, which includes more than 30 interactive displays on the most important historical inventions and innovations in electricity and the latest developments in renewable and sustainable energy, as well as DEWA Museum and others.
The delegation praised the Authority ’ s major projects, praising the Innovation Center, which is a global incubator for innovation in various fields of renewable and clean energy.
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Arab countries aim to add 73GW of solar and wind capacity by 2030, with Saudi Arabia and the UAE targeting 50% renewable and clean energy by 2030 and 2050, respectively.

Title:

Content: People 's Network > > International
Sino-Arab green transformation cooperation is on the rise
December 8, 2022, 13: 09 | Source: Xinhua Network
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Xinhua News Agency, BEIJING, December 8 (International observation) Sino-Arab cooperation on green transformation is on the rise
Xinhua News Agency reporter Luo Guofang
China and Arab countries have different resource endowments and development paths, but they are in the key stage of green development transformation.
The pursuit of a common vision of sustainable development will push China and Argentina to move forward together in a cleaner, greener and low-carbon direction, and continuously deepen cooperation in related fields to benefit the people of China and Argentina.
Development Complementary Advantages
At present, China's development is changing from high-speed growth to high-quality development, and it is committed to energy transformation and clean development in the field of energy, and strives to build a clean, low-carbon, safe and efficient energy system.
At the same time, many Arab countries have also launched energy transformation plans in recent years, committed to the development of clean and renewable energy, and strive to reduce dependence on fossil fuels such as oil and natural gas, and promote sustainable economic development.
Saudi Arabia announced in its Vision 2030 development strategy that by 2030, the proportion of renewable energy in the country's energy mix will reach 50%.
The UAE ’ s Energy Strategy 2050 aims to increase the share of clean energy in the total energy mix to 50% by 2050.
Egypt plans to increase the share of clean energy generation to 40% by 2035.
The Arab region has one of the best solar and wind energy resource endowments in the world, and the development of clean and renewable energy has unique conditions.
According to a report released by the Global Energy Monitor in June this year, Arab countries in the Middle East and North Africa plan to add 73 gigawatts of utility-scale solar and wind capacity by 2030, more than five times the current installed capacity.
China has advanced technology and rich experience in the field of photovoltaic and wind power, and has complementary advantages with Arab countries in the field of clean and renewable energy.
Abu Dhabi Energy Director, Avida Murshid Maral, said that vigorously developing renewable energy has become a global trend, which creates a good opportunity for deepening Arab-Chinese energy cooperation.
Collaborating for a Green Transition
In recent years, China has actively expanded cooperation with Arab countries in the field of clean and renewable energy, and the two sides have jointly implemented a number of cooperation projects.
The Zafra Solar Power Station, about 35 kilometers from Abu Dhabi City, is the largest single photovoltaic power station in the world, with an installed capacity of 2 GW.
The solar power plant, which is contracted by a Chinese company, will help Abu Dhabi reduce carbon dioxide emissions by 2.4 million tons per year and play an important role in the sustainable development of the UAE's energy economy.
Saudi Arabia's Red Sea coast is creating a green new city, the project called the Red Sea New City, the future electricity supply will be 100% from clean energy.
The realization of this vision will not only rely on solar and wind energy, but also benefit from energy storage systems that can act as energy “cisterns ” and“ regulators, stabilizers ”.
The successful signing of the Red Sea New City energy storage project by Chinese enterprises will help Saudi Arabia to build a global clean energy and green economy center.
Abdullah Wadi, a researcher at the Saudi think tank Research and Knowledge Exchange Center, said that Saudi Arabia and China are committed to vigorously developing clean and renewable energy, and actively promoting relevant international cooperation, which has set a good example for the international community to work together to promote green and low-carbon development and jointly deal with various challenges and global issues facing mankind.
Helping Fishing Development
With the deepening of cooperation between China and Arab countries in clean energy, low-carbon economy and energy transition, China ’ s advanced technology in related fields has also entered Arab countries. China adheres to the concept of “teaching people to fish ” and helps Arab countries improve their independent development capabilities through multi-level cooperative research and training programs.
China and Arab countries jointly set up the China-Arab Clean Energy Training Center to jointly organize capacity-building activities in photovoltaic, solar thermal, wind power and smart grid.
China and Egypt have set up a Sino-Egyptian joint laboratory on renewable energy to carry out joint research, promote personnel training, and help Egypt strengthen scientific and technological capacity building.
Since its establishment in 2015, the China-Arab Technology Transfer Center has built eight bilateral technology transfer centers in Saudi Arabia, Jordan and other countries, forming a technology transfer cooperation network linking nearly 5,000 Chinese and foreign members.
“The development of zero-carbon and low-carbon energy technologies is of great significance.
These technologies align with our energy transition goals, make the energy industry more resilient and help us build a sustainable and peaceful future, ” said Maral.
(Editor: Jia Wenting, Liu Jieyan)
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The UAE and Saudi Arabia have invested in vehicles, with the UAE investing nearly $8 billion in NIO and Saudi Arabia $40 billion in high-tech vehicles.

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

The Middle East PV market is expected to be worth nearly $1 trillion by 2030.

The UAE is investing $163.5bn in clean energy by 2050, including a 2-gigawatt solar plant and a 5-gigawatt Mohammed bin Rashid Solar Park.

Title:

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Updated: October 19, 2022, 10:41 AM
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The Benban Solar Park in Egypt has a 1,800-megawatt capacity, valued at $4 billion, and features 7 million photovoltaic panels across 41 plants.

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

The Gulf of Suez Wind Project has a 1,100 megawatt capacity, reducing 2.4 million tons of CO2 emissions and powering one million households.

Scatec has signed a cooperation agreement for a 1 GW solar project with 200 MWh battery storage in Egypt.

Title:

Content: Scatec at COP28: Accelerating renewable energy transition from Egypt to South Africa

Oslo, NORWAY

Dubai, 2 December 2023: This week, Scatec ASA, a leading renewable energy company, is actively engaging in the UN Climate Change Conference in Dubai (COP28). Our focus is to underscore renewable energy as an unequivocal solution to climate change and emphasise the critical need for increased green energy investments in emerging markets.

COP28 serves as a pivotal platform for global stakeholders to reinforce commitments aimed at averting catastrophic consequences of climate change. Scatec aligns with climate experts in stressing the urgency of the situation and the imperative to continue advancing towards the objectives outlined in the Paris Agreement. There's no time to waste, and collective progress is crucial for safeguarding our planet's future.

“We are at COP28 to highlight the key role renewable energy must play in our energy future, "At COP28, our focus is on underscoring the crucial role renewable energy must assume in shaping our energy future, particularly in emerging markets," states Scatec CEO Terje Pilskog. "To achieve our global climate targets, a substantial escalation of renewable energy solutions across various technologies is imperative."

Egypt’s first hybrid solar and battery storage project
As part of these efforts, Scatec today signed a landmark early-stage cooperation agreement together with the Egyptian Electricity Holding Company (EEHC) for a future 1 gigawatt (GW) solar and 200 MWh battery storage project, during a signing ceremony in Dubai today. In connection with this agreement, the African Development Bank Group (AfDB) has signed a letter of intent for the financing package of the project at competitive terms. Next steps in the initial development phase include securing land lease agreements and grid connection for the project.

Innovative and unique
A solar and battery storage plant uniquely combines two renewable technologies, addressing intermittency challenges, enhancing grid stability, and providing reliable, green power. Dispatchable power production and the ability to release stored energy during peak demand make hybrid plants ideal for meeting region-wide energy needs during periods of high consumption.

 “We are very pleased with the agreements we were able to sign during COP28 and thank all stakeholders and parties involved,” says Pilskog. “A project like the one initiated today reinforces our commitment together with Egypt and Norway to further accelerating the renewable energy transition.”

 As COP28 gathers world leaders, civil society, and corporates, Scatec underscores the importance of maintaining momentum in the pursuit of sustainable solutions. The company’s plea for collaboration echoes the shared responsibility to address climate challenges and marks a call to action for a resilient, green future.

Our goal is to actively engage in conversations that expedite the green transition. Leveraging our projects, we aim to demonstrate that impactful change is not only achievable but can also be realised swiftly and at scale. Key markets hold untapped potential, serving as catalysts for regional and continental development.

For further information, please contact:
For analysts and investors: Andreas Austrell, VP IR, phone: +47 974 38 686,  andreas.austrell@scatec.com
For media: Meera Bhatia, SVP Communications & Government Affairs, phone: +47 468 44 959, meera.bhatia@scatec.com

About Scatec
Scatec is a leading renewable energy solutions provider, accelerating access to reliable and affordable clean energy emerging markets. As a long-term player, we develop, build, own, and operate renewable energy plants, with 4.3 GW in operation and under construction across four continents today. We are committed to grow our renewable energy capacity, delivered by our passionate employees and partners who are driven by a common vision of ‘Improving our Future’. Scatec is headquartered in Oslo, Norway and listed on the Oslo Stock Exchange under the ticker symbol ‘SCATC’. To learn more, visit www.scatec.com or connect with us on LinkedIn

This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act

The region's energy transition is expected to boost the local economy and climate goals by reducing carbon emissions and increasing renewable energy use.

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Content: Strong French Presence at Dubai Energy Show
T + T - normal size
The Middle East Energy Expo 2022 is witnessing a strong presence of France through the participation of 11 French companies under the umbrella of the French pavilion, organized and supported by the National Agency for the Development of the French Economy internationally Business France.
The most prestigious and comprehensive event for the energy sector in the Middle East and North Africa region is expected to attract more than 800 exhibitors and thousands of visitors, specialists and experts from around the world.
With a heritage of more than 45 years, Middle East Energy has established itself as one of the region ’ s leading energy events.
The 11 French companies, all with expertise in energy storage, equipment and applications, transmission and distribution of electricity, network protection products, systems and lighting, offer innovative, efficient and competitive solutions to the region.
The Middle East Energy Show will be an opportunity for French companies to discover the demands of new markets, share their valuable industry knowledge and experience and promote new and existing business areas.
Countries in the Middle East and North Africa (MENA) region are investing heavily in strengthening their electricity infrastructure and building new power lines, in order to secure supplies and respond to the growing demand for electricity in light of their booming economies and growing populations.
This includes the development of “high voltage ” direct current interconnection (HDVC) projects, such as connecting Egypt to GCC interconnected networks, or connecting Saudi Arabia to North Africa and Egypt to Iraq via Jordan.
The strategic importance of energy cooperation between the Middle East and North Africa is stronger than ever.
In this context, the French role is highlighted by its expertise in the areas of building new smart infrastructure, integrating renewable energies into the grid, and energy storage, which qualifies it to play an important and specific role in helping the Middle East and North Africa region achieve its carbon reduction goals.
In addition, the overall familiarity of French equipment manufacturers with the electrification of unconnected and isolated sites, with appropriate off-grid / mini-grid solutions, meets the specific requirements of the region.
As MEE coincides with the announcement that the UAE will host the UN Climate Conference (COP28) in 2023, French companies have been keen to introduce new solutions and systems to support the energy transition, cleaner energy production and sustainable energy.
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The region's energy transition is driven by government incentives, like Dubai's Clean Energy Strategy 2050, to promote solar energy and reduce emissions.

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Content: To participate in the Middle East and North Africa Solar Conference 2023
DEWA draws research from 95 universities and global centres in 36 countries
Dubai Electricity and Water Authority (DEWA) has welcomed the research of a large group of experts and researchers from 95 universities and research centers from 36 countries around the world to participate in the first edition of the Middle East and North Africa Solar Conference 2023 and present their papers and scientific discoveries at the region ’ s first scientific and technical conference on solar energy systems, which will be held from 15 to 18 November 2023 at the Dubai World Trade Centre.
Perfect platform
Saeed Mohammed Al Tayer, Managing Director and CEO of DEWA, said: “The unlimited support of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, has contributed to making DEWA one of the most important contributors to the development of the clean and renewable energy sector around the world. ”
He added that “the Middle East and North Africa Solar Conference 2023 provides an ideal platform to showcase the latest innovations, research and scientific discoveries in the field of solar energy, as the conference brings together scientists, researchers, investors and leading global speakers to exchange knowledge and insights and discuss the most important ideas and research. ”
“DEWA attaches great importance to research and development in the fields of sustainability and renewable energy, including solar PV, concentrated solar power, hydropower, green hydrogen and others, in line with 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, ” Al Tayer said.
Research Papers
Waleed bin Salman, Executive Vice President for Business Development and Excellence at TRA, said: “The research papers that will participate in the conference will focus on a wide range of topics, including new and unconventional concepts of future technologies, materials and devices of silicon photovoltaics, perovskite, organic materials and solar cells, PV models, reliability of PV systems production in the Middle East and North Africa, solar sources of PV systems, and forecasting. Solar energy, electronic devices for energy conversion, network integration, and all fields that will accelerate the transition to green energy. ”
Big turnout.
The conference is expected to be very popular, as it is taking place ahead of the 28th session of the Conference of the Parties to the United Nations Framework Convention on Climate Change (COP28), to be hosted by the UAE at Expo City Dubai in November, and in conjunction with the 25th edition of the Water, Energy and Environment Technology Exhibition (WETEX) and Dubai Solar, which will be organized by DEWA from 15 to 17 November 2023. sustainability and related sectors, and one of the largest specialized exhibitions in the world.
Late Submission
Dewa stated that the opportunity is still available for researchers and scientists to present their research and participate in the conference during the late submission period until August 1, 2023 via: https: / / mbrsic.ae / en / mena-sc.
Those interested in attending the conference can also benefit from the early registration discount, which lasts until 31 July 2023 through the link: « https: / / mbrsic.ae / en / mena-sc / registration / », noting that it provides additional discounts for students and members of the Institute of Electrical and Electronics Engineers.
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The UAE aims to achieve climate neutrality by 2050 by reducing emissions 22% through methods like carbon capture.

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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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The country plans to decrease building emissions by 20% and power generation emissions by 18%.