The Middle East region is undergoing a significant transformation in its energy landscape, with several countries investing heavily in solar energy as part of their energy transition strategies.

The United Arab Emirates (UAE) is leading the way in solar energy production, with a total installed capacity of 2.6 gigawatts and a goal of achieving 50% clean energy by 2050.

Saudi Arabia is also making significant strides in renewable energy, with a target of generating 50% of its energy from renewables by 2030 and a goal of achieving carbon neutrality by 2060.

Egypt is another major player in the region's energy transition, with a goal of generating 42% of its electricity from renewable sources by 2035 and a number of large-scale solar and wind projects underway.

The region's energy transition is driven by a combination of factors, including government incentives, declining technology costs, and growing demand for clean energy.

The UAE has invested $163.5 billion in clean energy projects and aims to achieve net zero emissions by 2050, while Saudi Arabia has launched a number of initiatives to support the development of renewable energy projects.

Egypt has also implemented a number of policies to support the development of renewable energy, including a feed-in tariff program and a goal of generating 20% of its electricity from solar and wind power by 2022.

The region's energy transition is expected to have a significant impact on the local economy, with the potential to create new jobs and industries in the renewable energy sector.

However, the transition also poses a number of challenges, including the need for significant investment in infrastructure and the potential for disruption to traditional energy industries.

Overall, the Middle East region is making significant progress in its energy transition, with a number of countries investing heavily in solar and other renewable energy sources.

The region's energy transition is expected to continue to grow in the coming years, with a number of new projects and initiatives underway.

The UAE's Mohammed bin Rashid Al Maktoum Solar Park is a key project in the region's energy transition, with a capacity of 5,000 megawatts and a goal of reducing carbon emissions by 6.5 million tonnes per year.

The park is also expected to provide clean energy to over 320,000 homes in Dubai and will play a significant role in the UAE's efforts to achieve net zero emissions by 2050.

The Middle East region has a number of advantages that make it an attractive location for solar energy production, including high levels of solar radiation and a growing demand for clean energy.

The region's energy transition is also being driven by a number of international agreements and initiatives, including the Paris Agreement and the United Nations' Sustainable Development Goals.

Overall, the Middle East region is playing a significant role in the global energy transition, with a number of countries investing heavily in solar and other renewable energy sources.

The region's energy transition is expected to continue to grow in the coming years, with a number of new projects and initiatives underway.

The UAE, Saudi Arabia, and Egypt are among the countries leading the way in the region's energy transition, with a number of large-scale solar and wind projects underway.

The region's energy transition is driven by a combination of factors, including government incentives, declining technology costs, and growing demand for clean energy.

The Middle East region is expected to play a significant role in the global energy transition, with a number of countries investing heavily in solar and other renewable energy sources.

The region's energy transition is expected to have a significant impact on the local economy, with the potential to create new jobs and industries in the renewable energy sector.

The UAE aims to mobilize $272 billion in sustainable finance by 2030 to support the transition to a low-carbon economy.

The region's energy transition is also being driven by a number of national and international initiatives, including the UAE's National Energy Strategy and the International Renewable Energy Agency.

The Middle East region has a number of opportunities for growth and development in the renewable energy sector, including the potential for solar and wind energy production.

The region's energy transition is expected to continue to grow in the coming years, with a number of new projects and initiatives underway.

The UAE, Saudi Arabia, and Egypt are among the countries leading the way in the region's energy transition, with a number of large-scale solar and wind projects underway.

The region's energy transition is driven by a combination of factors, including government incentives, declining technology costs, and growing demand for clean energy.

The Middle East region is expected to play a significant role in the global energy transition, with a number of countries investing heavily in solar and other renewable energy sources.

The region's energy transition is expected to have a significant impact on the local economy, with the potential to create new jobs and industries in the renewable energy sector.

The region's energy transition is also being driven by a number of international agreements and initiatives, including the Paris Agreement and the United Nations' Sustainable Development Goals.

The UAE has launched a number of initiatives to support the development of renewable energy projects, including the Mohammed bin Rashid Al Maktoum Solar Park.

The park is a key project in the region's energy transition, with a capacity of 5,000 megawatts and a goal of reducing carbon emissions by 6.5 million tonnes per year.

The Middle East region has a number of advantages that make it an attractive location for solar energy production, including high levels of solar radiation and a growing demand for clean energy.

The region's energy transition is expected to continue to grow in the coming years, with a number of new projects and initiatives underway.

The UAE, Saudi Arabia, and Egypt are among the countries leading the way in the region's energy transition, with a number of large-scale solar and wind projects underway.

The region's energy transition is driven by a combination of factors, including government incentives, declining technology costs, and growing demand for clean energy.

The Middle East region is expected to play a significant role in the global energy transition, with a number of countries investing heavily in solar and other renewable energy sources.

The region's energy transition is expected to have a significant impact on the local economy, with the potential to create new jobs and industries in the renewable energy sector.

The region's energy transition is also being driven by a number of national and international initiatives, including the UAE's National Energy Strategy and the International Renewable Energy Agency.

The Middle East region has a number of opportunities for growth and development in the renewable energy sector, including the potential for solar and wind energy production.

The region's energy transition is expected to continue to grow in the coming years, with a number of new projects and initiatives underway.

The UAE aims to achieve net zero emissions by 2050, with a goal of reducing carbon emissions by 23% by 2030.

The country has launched a number of initiatives to support the development of renewable energy projects, including the Mohammed bin Rashid Al Maktoum Solar Park.

The park is a key project in the region's energy transition, with a capacity of 5,000 megawatts and a goal of reducing carbon emissions by 6.5 million tonnes per year.

The Middle East region has a number of advantages that make it an attractive location for solar energy production, including high levels of solar radiation and a growing demand for clean energy.

The region's energy transition is expected to continue to grow in the coming years, with a number of new projects and initiatives underway.

The UAE, Saudi Arabia, and Egypt are among the countries leading the way in the region's energy transition, with a number of large-scale solar and wind projects underway.

The region's energy transition is driven by a combination of factors, including government incentives, declining technology costs, and growing demand for clean energy.

The Middle East region is expected to play a significant role in the global energy transition, with a number of countries investing heavily in solar and other renewable energy sources.

The region's energy transition is expected to have a significant impact on the local economy, with the potential to create new jobs and industries in the renewable energy sector.

The region's energy transition is also being driven by a number of international agreements and initiatives, including the Paris Agreement and the United Nations' Sustainable Development Goals.

The UAE has launched a number of initiatives to support the development of renewable energy projects, including the Mohammed bin Rashid Al Maktoum Solar Park.

The park is a key project in the region's energy transition, with a capacity of 5,000 megawatts and a goal of reducing carbon emissions by 6.5 million tonnes per year.

The Middle East region has a number of advantages that make it an attractive location for solar energy production, including high levels of solar radiation and a growing demand for clean energy.

The region's energy transition is expected to continue to grow in the coming years, with a number of new projects and initiatives underway.

The UAE, Saudi Arabia, and Egypt are among the countries leading the way in the region's energy transition, with a number of large-scale solar and wind projects underway.

The region's energy transition is driven by

The Middle East region is undergoing a significant transformation in its energy landscape, with several countries investing heavily in solar energy as part of their energy transition strategies.

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.

The United Arab Emirates (UAE) is leading the way in solar energy production, with a total installed capacity of 2.6 gigawatts and a goal of achieving 50% clean energy by 2050.

Title:

Content: In numbers...
Arab countries race to double their renewable energy production by 2030
ECONOMY
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DUBAI, United Arab Emirates — (CNN) Arab countries are on track to grow their utility-scale wind and solar capacity by more than 500% by 2023, according to a report by Global Energy Monitor.
According to the report, the Middle East and North Africa (MENA) region has enormous potential for large-scale wind and solar power projects because of its favorable climate and sunny weather for most of the year.
Arab countries are planning more than 73 gigawatts of utility-scale solar and wind projects, a more than fivefold increase in current capacity, which together with operational projects will account for 91% of the Arab League ’ s renewable energy goals for 2030.
The UAE is at the top of the list of Arab countries that produce the most electricity from solar energy, with solar plants producing 2.6 gigawatts of electricity.
Egypt is among the Arab countries that produce the most electricity from wind power at 1.6 gigawatts.
Egypt produces 1.9 gigawatts of electricity from solar power plants.
Egypt ’ s total electricity production from both places it at the top of the list of Arab countries with a production capacity of 3.5 gigawatts.
Thanks to its huge investments in solar electricity production, the UAE ranks second in wind and solar electricity production, followed by Morocco in third place with 1.9 GW and Jordan in fourth place with 1.7 GW.
While Egypt, the United Arab Emirates, Morocco and Jordan are the first Arab countries to initiate wind and solar power plants, Oman, Algeria and Kuwait are poised to follow suit, ranking first in expected solar and wind power production in the near future.
Here are the top Arab countries in terms of the current operation of solar and wind energy on the scale of utilities and the capacity of wind and solar energy expected to be produced at the level of each country in the Arab region.

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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Saudi Arabia is also making significant strides in renewable energy, with a target of generating 50% of its energy from renewables by 2030 and a goal of achieving carbon neutrality by 2060.

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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Egypt is another major player in the region's energy transition, with a goal of generating 42% of its electricity from renewable sources by 2035 and a number of large-scale solar and wind projects underway.

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Content: Chairman of the Board of Directors and Editors
I'm sorry.
Mohamad Elbaz
Chairman of the Board of Directors and Editors
I'm sorry.
Mohamad Elbaz
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 region's energy transition is driven by a combination of factors, including government incentives, declining technology costs, and growing demand for clean energy.

The UAE has invested $163.5 billion in clean energy projects and aims to achieve net zero emissions by 2050, while Saudi Arabia has launched a number of initiatives to support the development of renewable energy projects.

Egypt has also implemented a number of policies to support the development of renewable energy, including a feed-in tariff program and a goal of generating 20% of its electricity from solar and wind power by 2022.

Title:

Content: Chairman of the Board of Directors and Editors
I'm sorry.
Mohamad Elbaz
Chairman of the Board of Directors and Editors
I'm sorry.
Mohamad Elbaz
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.

Title:

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.

The region's energy transition is expected to have a significant impact on the local economy, with the potential to create new jobs and industries in the renewable energy sector.

Title:

Content: Environmental, Social, and Governance (ESG) issues have become increasingly prominent on the global stage as organisations recognise the need to integrate sustainability into their operations.

As the Middle East moves towards a low carbon future, sustainability has become a top priority for organisations and governments across the region.

Sheikh Mohammad bin Rashid, Prime Minister and Ruler of Dubai announced while launching the National Hydrogen Strategy that the UAE is to invest up to AED 200 billion ($54.5 billion) in renewable energy.

The launch of a AED 4 billion renewable energy plant in Dubai,  and the world’s largest waste-to-energy plant are proof of sustainability climbing the agenda.

With COP 28 being held in the UAE this year, there is a renewed sense of urgency on climate change action, and the net-zero carbon target is being prioritised through policies and actions.

After all, sustainability will boost the UAE’s economic competitiveness, drive innovative policy and improve investment opportunities.

The region has seen notable sustainability innovations, including Saudi Arabia’s rapid transition to a circular carbon economy, Bahrain’s state oil company refinancing a $2.2 billion sustainability-linked corporate finance facility, and Oman’s exploration of green hydrogen as a clean energy source.

However, the Middle East faces its own unique challenges in implementing ESG practices, especially around accurate sustainability reporting and implementing early regulations to fill in previous gaps.

Other challenges that hinder the progress of the region’s ESG agenda include the talent gap, how corporates in the region address the need to implement ESG practices, as well as data availability.

Regulatory frameworks

While standardised frameworks and reporting guidelines begin to form, the lack of clear regulations can hinder consistent measurement and disclosure of ESG performance.

Global frameworks have now become more widely adopted in the region such as the Global Reporting Initiative (GRI), the Sustainability Accounting Standards Board (SASB), and the newly published International Sustainability Standards Board (ISSB).

The gap in standardisation previously posed challenges for investors and stakeholders who relied on transparent and comparable ESG data for decision-making, however, we are starting to see drastic changes in this area.

Data availability

Many companies in the Middle East still face challenges in collecting, managing, and reporting ESG data, which can hinder their ability to effectively assess and manage their sustainability performance.

Data is the first step to measure any status, but also measure progress. Improving data collection mechanisms and investing in robust reporting systems will be instrumental in addressing this challenge.

ESG talent gap

Organisations need individuals with specialised knowledge and expertise in ESG practices to drive sustainable strategies effectively. Alongside this specialised knowledge, the industry also needs innovators, risk takers, agitators for change, mentors, and communicators in the field. There is however, a shortage of skilled professionals in the region with a deep understanding of ESG principles to drive innovative solutions.

Bridging this gap requires investment in education and training programmes to build a skilled workforce capable of integrating ESG considerations into business practices. Universities and training institutions are therefore increasingly offering courses and programmes on sustainability and ESG and businesses are partnering with academic institutions to develop tailored training initiatives and internships, nurturing a pipeline of talent equipped with the required knowledge and skills.

These efforts will cultivate a sustainable workforce capable of implementing and driving ESG practices in the Middle East.

Implementation by region’s corporates

Despite the challenges, corporations in the Middle East are embracing ESG practices, recognising the importance of sustainability and responsible business conduct. We see this through accelerated electrification and the increase of decarbonizing energy supply.

The GCC’s oil-producing nations have made efforts to diversify energy sources, transitioning towards net-zero carbon fuels for transportation. Investments in renewable energy, such as solar and wind, aim to mitigate environmental impacts and promote a low-carbon economic future transforming the economic system and supply chain.

Additionally, social considerations are gaining prominence. Companies are addressing social issues through initiatives that promote diversity, inclusion, and employee welfare.

Governance practices are also being strengthened to ensure transparency, accountability, regulatory reforms and ethical conduct.

While obstacles in integrating ESG practices persist in the Middle East, corporates in the region are proactively embracing sustainability and responsible business practices.

That the Middle East is emerging as a leader in ESG adoption is apparent through their fullfillment of the UN SDG goals which has driven positive environmental, social, and governance outcomes for businesses and society as a whole.

However, the transition also poses a number of challenges, including the need for significant investment in infrastructure and the potential for disruption to traditional energy industries.

Title:

Content: Contribution ｜ Explore Hong Kong ’ s role and opportunities in the development of renewable energy in the Middle East
Author: 01 More Voices
Published: Updated:
In recent years, Hong Kong has actively promoted the development of renewable energy and launched a number of related products in the financial market.
In addition, more and more Hong Kong enterprises have also started to participate in the development of this industry, especially in the financial market, and launched a number of financial products to support the development of renewable energy.
At the same time, many countries in the Middle East, such as the United Arab Emirates, Jordan, Saudi Arabia, Oman and Turkey, are also actively engaged in various large-scale projects to promote the development of renewable energy, and expect to see a different energy mix and economic development model in 2030 or 2050.
For Hong Kong, China and other countries, the development opportunities of the Middle East market cannot be ignored, and Hong Kong ’ s participation in this area cannot be underestimated.
Submitted by: Kwong Cheuk-wui
Recently, I had the opportunity to participate in several seminars on economic and energy development in the Middle East, and have in-depth exchanges with government representatives in charge of foreign affairs and trade from various Middle Eastern countries and Azerbaijan.
These exchange experiences provide the author with a wealth of insight.
After many in-depth talks, to understand the interest and momentum of the development of renewable energy in many countries in the Middle East, the author synthesized the information from various parties and came to the following insights: The reason why the major oil producers in the Middle East are actively developing renewable energy is to achieve economic diversification and get rid of dependence on oil and related industries.
They hope to turn the country ’ s surplus renewable energy into new, dependable foreign revenues (i.e., revenues generated from natural resource exports; “Rents ”) through innovative technologies.
For other non-oil producing countries, they want to achieve economic sustainability through the development of renewable energy, reduce dependence on traditional fossil fuels or electricity imports, and convert renewable energy into new external rental income to boost the country ’ s economic development.
From this, it can be seen that the Middle East countries are very concerned about the development of renewable energy, but also hope to complete the energy transformation as soon as possible, and look forward to renewable energy can produce more and greater economic benefits, create new dependent income, promote economic diversification and modernization, but also benefit thousands of people.
As a result, many countries in the Middle East have invested heavily in and promoted energy transformation and clean energy development.
Although many countries have made extraordinary achievements in driving renewable energy development, they also face many challenges.
Jordan, for example, has a wealth of renewable energy resources, including solar, wind, geothermal and bioenergy, as well as state-of-the-art renewable energy laws, regulatory mechanisms and development frameworks.
Earlier this year, Jordan successfully achieved its national roadmap, originally set for 2030, with renewable energy accounting for 31% of total energy.
The Jordanian government also plans to increase this target to 50%, and is committed to building the country into a regional renewable energy development center and exporting environmentally friendly power to neighboring countries to increase the country ’ s foreign revenue.
However, like other Middle Eastern countries, Jordan faces a host of challenges.
These challenges include lagging energy infrastructure, imperfect grid planning, an over-concentration of resources on solar and wind with less focus on geothermal energy, and a lack of energy storage systems and foreign investment.
In addition, there is the debt problem of the national power company.
These difficulties not only affect Jordan ’ s progress in developing renewable energy, but also act as a barrier to modernizing and diversifying the country ’ s economy.
Some Jordanian officials and scholars are concerned about whether the development of renewable energy is progressing as expected.
They are concerned that if the development of renewable energy and its core economic development model are not carried out smoothly, or if the newly set targets are not successfully achieved, the country ’ s economic sustainability will be adversely affected.
At the same time, it can undermine the credibility and governance of the government.
In particular, those political forces that have been opposed to the use of renewable energy to promote economic development and diversification may take the opportunity to launch opposition actions, further endangering the political stability and regional security of the country and the Middle East as a whole.
It is worth noting that these challenges are not only in Jordan, but also in Middle Eastern countries such as Morocco and Egypt.
Other countries such as the United Arab Emirates, Oman, Saudi Arabia and Qatar have also made great efforts to develop solar and wind power in recent years, but in addition to the above concerns and challenges, there are also concerns that the development of renewable energy will have some impact on the high dependence of these countries ’ economies on oil and gas markets, which may affect existing incomes and lead to economic and social instability.
Other factors include the huge demand for capital, the need for foreign technology and talents, the need for talent training, economic feasibility, etc. These are also issues of concern to the officials of these Middle Eastern countries.
These challenges are in fact a valuable development opportunity for Hong Kong.
The key is to make good use of our strengths, especially in the Belt and Road Initiative, to work with the Middle East countries to promote renewable energy and green economy development.
This not only helps these countries diversify their economies, but also creates development opportunities for Hong Kong businesses and governments, and indirectly promotes the development of other industries.
I suggest that Hong Kong can establish cooperation platforms and channels of communication with transnational organizations in the Middle East and North Africa, such as the Arab Parliamentary Union, the Gulf Cooperation Council, the Turkic Parliament and the Arab Maghreb Union.
Such a platform could be used to explore free trade agreements and to help Middle Eastern countries provide services such as finance, advisory, legal, education or training, and energy infrastructure.
This will not only help Hong Kong consolidate its leading position in the professional services sector and the financial sector, but will also directly or indirectly create many development opportunities, especially in Islamic finance.
Finally, Hong Kong can consider providing financial support to the Middle East countries by assisting in the issuance of Islamic financial bonds to promote the development of renewable energy, and can also take the opportunity to develop Islamic finance in Hong Kong as a new financial center outside the Islamic world.
Of course, Hong Kong should not only cooperate with major countries such as Saudi Arabia and the United Arab Emirates or the above-mentioned multinational organizations and platforms, but also consider other regions with development potential and worthy of investment, such as Turkey, Azerbaijan, Morocco, etc.
This diverse collaboration will help Hong Kong expand its international presence and contribute to global sustainability in the renewable energy sector.
The author, Mr Kwong Cheuk-rui, is the Executive Director of the Hong Kong Group of Ideas, a Master of Arts from the Australian National University, and has worked at the Australian Institute of International Affairs.
The article is only the opinion of the author and does not represent the position of Hong Kong 01.
Please email us at 01view @ hk01.com.
Please attach the author ’ s real name and contact details.
If not applicable, without prior notice.

Overall, the Middle East region is making significant progress in its energy transition, with a number of countries investing heavily in solar and other renewable energy sources.

The region's energy transition is expected to continue to grow in the coming years, with a number of new projects and initiatives underway.

Title:

Content: Chairman of the Board of Directors and Editors
I'm sorry.
Mohamad Elbaz
Chairman of the Board of Directors and Editors
I'm sorry.
Mohamad Elbaz
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 UAE's Mohammed bin Rashid Al Maktoum Solar Park is a key project in the region's energy transition, with a capacity of 5,000 megawatts and a goal of reducing carbon emissions by 6.5 million tonnes per year.

Title:

Content: UAE strengthens its position in the solar energy sector
T + T - normal size
Solar investments in the UAE have huge potential, driven by government subsidies, large government investments, supportive policies, an innovation-friendly environment, commitment to sustainability goals, increased energy demand and lower technology costs.
The UAE is a pioneer in the adoption of renewable energy sources and strives to make solar energy the cornerstone of the national energy system, with many global reports indicating that the UAE is one of the fastest countries in the world in the adoption of solar energy.
And in this regard...
A report by Mordor Intelligence International, for research and studies, predicted that the size of the solar energy market in the UAE will grow at a compound annual growth rate of more than 35% during the coming period, specifically until 2029.
The report stressed the importance of the UAE Energy Strategy, which aims to triple the contribution of renewable energy over the next seven years, and to inject national investments between 150 and 200 billion dirhams during the same period, in order to reach the targets of climate neutrality 2050.
He also predicted that the transformation in the field of renewable energy, specifically solar energy, which is a key player in the energy transformation strategy, will create many opportunities for the solar market in the UAE in the future.
According to another report from Mordor Intelligence, the global solar market is expected to grow at a rate of only 29% between 2024 and 2029, thus surpassing the global average.
The UAE has emerged as a major player in the global solar market in recent years, and has leapfrogged production rates over the past 10 years: from just about 12 megawatts of solar capacity in 2012, it has raised the figure at a staggering rate to more than 3,040 megawatts, according to the Energy Institute.
In 2022, the UAE emerged as a major player in the global solar energy market, ranking second in the world in terms of per capita solar energy consumption, according to the Statutory Review of World Energy.
S & P reported that the proliferation of solar PV as an abundant, low-cost and rapidly deployable technology has overshadowed the potential of wind in the Middle East, pointing to the UAE ’ s role in the region in the field of solar energy and the transition to clean energy.
Masdar is involved in the development of a number of key projects in the UAE, including Shams, the region ’ s first concentrated solar power plant, which was inaugurated in 2013.
It has also invested in a range of world-leading solar power plants, including the 2 GW Al Dhafra plant, the world ’ s largest single-site solar PV plant in operation.
Masdar has developed the third phase of the Mohammed bin Rashid Al Maktoum Solar Park in Dubai and won the bid to develop the sixth phase of the project, which will have a total production capacity of 5 gigawatts and will be the largest in the world.
The Mohammed bin Rashid Al Maktoum Solar Park, implemented by DEWA, is the largest single-site solar park in the world under the IPP system and will have a production capacity of 5,000 megawatts by 2030, with a total investment of AED 50 billion.
When completed, the complex will reduce more than 6.5 million tonnes of carbon emissions annually.
At the end of March this year, DEWA ’ s production capacity from the complex reached 2,627 megawatts.
The fourth phase of the Mohammed bin Rashid Al Maktoum Solar Park uses three common technologies to produce clean energy: a 600 MW parabolic trough system, a 100 MW CSP tower and 250 MW photovoltaic solar panels.
The Mohammed bin Rashid Al Maktoum Solar Park achieved two records for the world ’ s “highest concentrated solar power tower ” at 263.126 meters and the“ largest thermal energy storage capacity ” in the world with a capacity of 5907 MWh using concentrated solar energy using parabolic inverters and molten salt.
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The park is also expected to provide clean energy to over 320,000 homes in Dubai and will play a significant role in the UAE's efforts to achieve net zero emissions by 2050.

The Middle East region has a number of advantages that make it an attractive location for solar energy production, including high levels of solar radiation and a growing demand for clean energy.

The region's energy transition is also being driven by a number of international agreements and initiatives, including the Paris Agreement and the United Nations' Sustainable Development Goals.

Title:

Content: What are COPs? And who attends them?

‘COP’ stands for ‘the Conference of the Parties of the UN Framework Convention on Climate Change (UNFCCC)’. The aim of these events is for nations to provide updates on efforts to reduce emissions and improve climate resilience and to agree on new targets and measures to increase ambition and delivery.

COPs have been held every year since 1995 and, each year, the COP Presidency rotates among the UN’s recognised regions – Africa, Asia, Latin America and the Caribbean, Western Europe, Central and Eastern Europe and other nations.

COPs are attended by world leaders on the first few days and official negotiating delegations for the duration. Other policymakers, including environment, energy and climate ministers, also attend. Over the years, the presence of other groups – known as non-state actors – has gradually increased. COPs are now attended by NGOs, city and town representatives, citizens’ groups, businesses, faith groups and all manner of other organisations.

COP28 officially begins in Dubai, United Arab Emirates (UAE), on Thursday 30 November. It is due to finish on Tuesday 12 December. Organisers are aiming to attract more than 60,000 people.

How are COPs organised?

Once a country makes a successful bid to the UN to host a COP, it must select a president-designate for the summit. Environment or energy secretaries are a popular choice.

The UAE’s choice is its special envoy for climate change, Sultan Ahmed Al Jaber. He is also the chief executive of the nation’s state-owned oil and gas business, ADNOC, which makes him a controversial pick.

COPs are usually held at existing event venues and staffed by temporarily expanded workforces within the host government. COP26 in Glasgow in 2021, for example, was at the Scottish Event Campus. COP28 will be at Expo City (pictured).

Every COP has two main zones – blue and green. The blue zone houses the official negotiating room, country pavilions and the media centre. It is where world leaders give their initial address during the first two days, also. Only selected attendees are given access to the blue zone.

The only people allowed in the negotiation rooms are official negotiators, ministers, facilitators and a select group of observers. Businesses and other so-called ‘non-state actors’ are not asked to directly add their input.

The green zone, meanwhile, is open to all attendees. It will play host to side events and pavilions and desks manned by businesses, academic organisations, NGOs and civil society groups.

What happened last year at COP27?

The general consensus is that the agreement struck at COP27, which took place in Egypt in November 2022, was not strong enough.

This summit concluded with a final text that did not mention phasing out all forms of fossil fuels – something that had been proposed in the draft. Oil and gas exporters reportedly pushed for weaker language around ‘phasing down’ and advocated the mention of ‘low-emissions’ energy rather than clean or renewable energy, opening the possibility for carbon capture at fossil fuel plants to be framed as an alternative to renewables and nuclear. Also advocated was a pledge to reduce “inefficient” fossil fuel subsidies rather than all fossil fuel subsidies.

One glimmer of hope was the long-awaited agreement on the creation of a loss and damage fund, following U-turns from the likes of the US and EU. The fund is still to be operationalised but this should happen soon after a blueprint was agreed upon earlier this month.

There were also several notable initiatives launched outside of the negotiating room at COP27.

Barbados’s Prime Minister Mia Mottley kick-started an international stream of work intended to reform the global financial infrastructure to better unlock flows of international climate finance. E3G has a useful explainer of her ‘Bridgetown Agenda’ here.

From the COP27 presidency itself, we saw a new ‘Sharm-El-Sheikh Adaptation Agenda’ programme, headlined by a pledge to improve climate resiliency for at-risk places that are home to some four billion people.

What has happened since COP27?

It is widely accepted that the last 12 months have presented many new and deepening challenges in global geopolitics. Only time will tell how the COP28 presidency will deliver a day of conference proceedings relating to relief, recovery and peace after a year of extreme weather, war and divisive elections.

Regarding UN-led international diplomacy on the environment specifically, COP negotiators this year have something they didn’t at COP27 – an updated global biodiversity treaty.

The treaty was agreed upon in December 2022 after more than two years of meetings which were challenging to deliver during the Covid-19 pandemic. Its headline ambition is halting nature loss and degradation this decade, then bringing about restoration at an unprecedented pace and scale. Key commitments include setting aside 30% of land and sea for conservation and restoration, plus reforming at least $500bn of environmentally harmful subsidies each year.

We can expect discussions at COP28 on balancing land use for nature with the need to scale renewable energy and the need to safeguard human rights.

More recently, in June, negotiators gathered in their hundreds for the annual intersessional climate talks in Bonn. Observers noted that there was not a particularly strong display of ambition, which UN Secretary-General Antonio Guterres swiftly called out.

Then, in September 2023, the UN hosted its annual General Assembly in New York to track progress towards the 17 Sustainable Development Goals. For the first time, the UN tagged on a new one-day climate summit and would only let government representatives speak if they had “credible, serious and new” plans to announce.

September was a jam-packed month that also included the G20 summit in India. This concluded with mixed progress on the energy transition. Nations rallied behind a vision to triple the world’s renewable energy generation capacity by 2030 but failed to reach any new agreements on energy efficiency or reducing fossil fuel supply.

What are the key negotiating topics this year?

Fossil fuels

Already, fault lines are deepening around approaches to the energy transition. Nations are broadly split between backing an agreement to phase out fossil fuels and remove all subsidies, and between wanting a weaker ‘phase down’.

This debate was on display at COP27. The UAE and other petrostates advocated for a text which would enable them to use carbon capture as a substitute for shifting their energy generation mix away from fossil fuels. We can expect this again in 2023; the UK has indicated that it would support a weakening of language here just to ensure global agreement.

Coal will be another frontier in the debating rooms. A new coalition of the UK, Canada, Germany, Chile, Colombia, Denmark, the Netherlands, Panama, Niue, Slovenia, Vanuatu and Spain will advocate for a total coal phase-out. China, India and Russia are expected to counter this.

The International Energy Agency (IEA) has stated that aligning the global energy system with net-zero by 2050, in line with the Paris Agreement’s 1.5C trajectory, means ending fossil fuel expansion immediately and properly preparing to decrease demand and supply.

The We Mean Business Coalition has convened dozens of large businesses to rally behind a strong ‘fossil to clean’ agreement.

Loss and Damage

As already mentioned, a loss and damage fund was launched at COP27. Following a series of sticky debates this year, nations finally agreed on the basics of operationalising this fund in recent weeks. All eyes in the Global South will be on COP8 to await further details of putting the fund into motion.

Observers have stated that the major blocker to operationalising the fund so far has been the US. It has been reported that it is categorically refusing to pay in if there is any chance that China could benefit from the funding.

We can also expect debates on whether an historic shortfall of international loss and damage finance should be rectified by back-payments from wealthy, high-emitting nations.

Linked to this, nations will doubtless be asked to provide a progress update on improving adaptation efforts through initiatives like the Sharm-El-Sheikh Adaptation Agenda.

Heath and food

COP28 is the first with an entire presidency programme day dedicated to health. This is happening on Sunday 3 December.

The presence of health organisations from the public and private sectors, plus academia and civil society, has been steadily increasing at COPs. There are hopes that the links between the climate crisis and public health can be acknowledged in the final outcome texts for the first time.

The COP28 Presidency has also made much fanfare around the dedication of Sunday 10 December to food. The UN Food and Agriculture Organisation is set to publish the first official global roadmap to 1.5C-aligned net-zero ahead of this day. At the summit, organisers will encourage other nations to better embed plans to reduce food sector emissions and enhance the resilience of their food systems into their Paris Agreement pledges.

There is a risk that the UAE will lean heavily on technological solutions for agriculture to distract from its reliance on fossil fuels.

How will COP28 impact businesses?

As noted above, COPs are becoming ever more of a pull for large multinational businesses. Opportunities to sponsor these summits or hold events in the host city are attractive propositions for networking and reputation-building.

But many businesses do question how major global agreements, written in mostly jargon and vague language, will impact them.

Agreements struck at COPs, if they are of the importance of Paris, do trickle down to impact national policy. These changes can provide businesses with the carrots and/or sticks needed to accelerate their low-carbon transitions and work to improve climate resilience.

Most governments now conclude that non-state actors will have to deliver the change on the ground to make meeting national climate targets – the majority of which are developed with the Paris Agreement in mind – possible.

edie has recently published a free-to-access Business Primer Report for COP28. You can download your copy here.

edie is also hosting the write-up of a recent pre-COP28 roundtable which convened a dozen decision-makers at businesses. You can read their thoughts on how UN summits impact businesses here.

© Faversham House Ltd 2023 edie news articles may be copied or forwarded for individual use only. No other reproduction or distribution is permitted without prior written consent.

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Overall, the Middle East region is playing a significant role in the global energy transition, with a number of countries investing heavily in solar and other renewable energy sources.

The region's energy transition is expected to continue to grow in the coming years, with a number of new projects and initiatives underway.

Title:

Content: Chairman of the Board of Directors and Editors
I'm sorry.
Mohamad Elbaz
Chairman of the Board of Directors and Editors
I'm sorry.
Mohamad Elbaz
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 UAE, Saudi Arabia, and Egypt are among the countries leading the way in the region's energy transition, with a number of large-scale solar and wind projects underway.

Title:

Content: Chairman of the Board of Directors and Editors
I'm sorry.
Mohamad Elbaz
Chairman of the Board of Directors and Editors
I'm sorry.
Mohamad Elbaz
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.

Title:

Content: In numbers...
Arab countries race to double their renewable energy production by 2030
ECONOMY
Publish
3 minutes read
DUBAI, United Arab Emirates — (CNN) Arab countries are on track to grow their utility-scale wind and solar capacity by more than 500% by 2023, according to a report by Global Energy Monitor.
According to the report, the Middle East and North Africa (MENA) region has enormous potential for large-scale wind and solar power projects because of its favorable climate and sunny weather for most of the year.
Arab countries are planning more than 73 gigawatts of utility-scale solar and wind projects, a more than fivefold increase in current capacity, which together with operational projects will account for 91% of the Arab League ’ s renewable energy goals for 2030.
The UAE is at the top of the list of Arab countries that produce the most electricity from solar energy, with solar plants producing 2.6 gigawatts of electricity.
Egypt is among the Arab countries that produce the most electricity from wind power at 1.6 gigawatts.
Egypt produces 1.9 gigawatts of electricity from solar power plants.
Egypt ’ s total electricity production from both places it at the top of the list of Arab countries with a production capacity of 3.5 gigawatts.
Thanks to its huge investments in solar electricity production, the UAE ranks second in wind and solar electricity production, followed by Morocco in third place with 1.9 GW and Jordan in fourth place with 1.7 GW.
While Egypt, the United Arab Emirates, Morocco and Jordan are the first Arab countries to initiate wind and solar power plants, Oman, Algeria and Kuwait are poised to follow suit, ranking first in expected solar and wind power production in the near future.
Here are the top Arab countries in terms of the current operation of solar and wind energy on the scale of utilities and the capacity of wind and solar energy expected to be produced at the level of each country in the Arab region.

The region's energy transition is driven by a combination of factors, including government incentives, declining technology costs, and growing demand for clean energy.

The Middle East region is expected to play a significant role in the global energy transition, with a number of countries investing heavily in solar and other renewable energy sources.

The region's energy transition is expected to have a significant impact on the local economy, with the potential to create new jobs and industries in the renewable energy sector.

The UAE aims to mobilize $272 billion in sustainable finance by 2030 to support the transition to a low-carbon economy.

Title:

Content: Analyzing The Impact On -And What's Next For- The Middle East After The UAE's Momentous Staging Of COP28 The United Nations climate conference in Dubai made history last month, uniting nearly 200 nations to adopt a resolution to "transition away" from coal, oil and gas in this decade.

By Megha Merani

Opinions expressed by Entrepreneur contributors are their own.

You're reading Entrepreneur Middle East, an international franchise of Entrepreneur Media.

The 28th edition of the Conference of the Parties of the United Nations Framework Convention on Climate Change (COP28) may have wrapped up- but the spotlight still remains fixed on the Middle East, with the UAE at the center, as it emerges as a potential key influencer in the global climate agenda. This focus comes amidst expectations from industry leaders that the summit's resolutions will spark a new wave of innovation and strategic rethinking across the region.

The United Nations (UN) climate conference in Dubai made history last month, uniting nearly 200 nations to adopt a resolution to "transition away" from coal, oil and gas in this decade. The landmark decision on fossil fuels -a first of its kind in the conference's three-decades- was won after intense debate and considerable resistance from leading energy producers.

Fossil fuels, which are responsible for the majority of global warming emissions, still account for more than 80% of the world's energy consumption, even amid a steady rise in renewable energy capacity. COP28 President Dr. Sultan Al Jaber said the deal "delivered a paradigm shift that has the potential to redefine our economies," but stressed the importance of action over rhetoric, signaling a turning point in international energy policies. "We are what we do, not what we say," he said. "We must take the steps necessary to turn this agreement into tangible action."

Salaal Hassan, founder and CEO of Ahya, an artificial intelligence (AI)-powered solution for businesses to measure and reduce emissions, said heightened awareness of climate challenges spurred by COP28 opens key opportunities for both policymakers and the private sector. "The private sector must move beyond an outlook of seeing climate change as corporate social responsibility (CSR), and instead adapt from purely capitalist models to green social capital-based enterprises," he said. To make the shift, he recommends the adoption of "double materiality", a concept that focuses on reinvesting profits into climate protection and accurately assessing climate risk.

Salaal Hassan, founder and CEO, Ahya. Source: Ahya

As for the road ahead, Hassan predicts the COP28 dialogue will be a major catalyst for climatetech innovation in the region, especially for software startups focused on database management, reporting, and reduction processes for climate initiatives. "Such solutions already exist in the US and European Union, but they are not transferable to the UAE due to cost, support, localization, and compliance aspects," he noted. As the region -which has been historically reliant on fossil fuels- pivots towards a sustainable future, Hassan also sees potential for Direct Air Capture (DAC) technology for greenhouse gas mitigation. However, he also pointed out that its capital-intensive nature poses limitations in emerging markets.

Meanwhile, Shukri Eid, General Manager for the Gulf, Levant, and Pakistan at American multinational IBM, said the urgency to measure carbon footprints, as well as the increasing demand for comprehensive data, including environmental, social, and governance (ESG) reporting, have exerted immense pressure on organizations. "To start, organizations need to establish baselines and develop data-driven strategies- deciding what data to collect, where to store it, and how to manage it for audits, performance assessment, and driving improvements," Eid said. Unfortunately, existing data is often "fragmented, incomplete, or outdated," Eid noted.

Shukri Eid, General Manager, IBM-Gulf, Levant, and Pakistan. Source: IBM

But he noted that technologies infused with AI "hold the most promise for climate action," citing IBM's collaboration with the US' National Aeronautics and Space Administration (NASA) on a foundation model for weather and climate. Trained on geospatial information, the model offers a novel approach to tackle climate change. "Unlike traditional AI models, geospatial foundation models can be fine-tuned for diverse applications, from flood detection to fire scars, driving impactful solutions across climate-related challenges," Eid explained.

Closer to home, IBM -which was an Associate Pathway Partner for the COP28 conference in Dubai – has also partnered with Mohamed Bin Zayed University of Artificial Intelligence to map the urban heat islands in the UAE. The research involves a fine-tuned version of IBM and NASA's geospatial foundation model to understand Abu Dhabi's urban environment and the formation of urban heat islands influenced by local landscapes. At the same time, IBM's Sustainability Accelerator is fostering innovation in water management at the University of Sharjah, which is developing a model and application to monitor and forecast water access in the Middle East and North Africa.

The financial sector is also adapting to take the lead in environmental initiatives. Dr. Saeeda Jaffar, Senior Vice President and Group Country Manager for the GCC at global digital payments leader Visa, said that finance and payment players "bear a significant responsibility" in driving adaptation, and that they are essential to bridging the gap between consumers and businesses in instilling sustainable practices. "The imperative for banks extends beyond merely reducing the reliance on cash payments and paper," she said. "It encompasses providing crucial capital to sustainable businesses, and creating an environment that fosters their growth. Any technology or innovation that inspires individuals and businesses to awareness and climate action holds great promise."

Dr. Saeeda Jaffar, Senior Vice President and Group Country Manager GCC, Visa. Source: Visa

Dr. Jaffar cited Visa's collaboration with sustainability-as-a-service startup Ecolytiq to launch an "Eco Benefits" bundle, in partnership with Mashreq Bank in the UAE and Qatar Islamic Bank in Qatar, as a prime example. The solution leverages payments data to allow consumers to track their carbon footprint per transaction, enabling them to understand the impact their spending behavior is having on the environment, and offers guidance on how to offset their carbon impact.

In the UAE, the carbon emissions insights are available to nearly one million Mashreq personal banking customers. "Rather than just offering products and services, we aim to craft experiences that truly benefit our customers," Faisal Al Shimmari, Head of ESG and Corporate Strategy at Mashreq Bank, said. "These products are designed to promote climate-positive behaviors, while delivering tangible impact for Mashreq customers."

Meanwhile, Mashreq is also actively ramping up its efforts to provide sustainable financing with a goal to reach US$30 billion by 2030, making it among the top facilitators of the UAE Banks Federation's (UBF) pledge at COP28 to mobilize $272 billion in sustainable finance by the end of the decade. The bank has already facilitated more than 30 deals in sustainable financing since 2021, including structuring and underwriting the recently closed Bapco Energies' $2.5 billion dual tranche Islamic and conventional term facility, the largest sustainability-linked loan in the region so far. Other projects that have received financing include adaptation-related projects such as water projects in Egypt, the UAE, Qatar, Saudi Arabia and Bahrain.

Related: A Silicon Valley for Climate Tech? It Could Well Be the UAE

Having noted important gaps in climate finance for decarbonization in the UAE, Al Shimmari called it "a matter of national priority". This is why Mashreq is set to launch a UAE ESG Ecosystem Government Accelerator, an initiative uniting public institutions and financial private sector organizations to expedite the UAE's green transition.

Meanwhile, as 2024 now gets underway, Al Shimmari noted that UAE climate startups will need to confront regulatory uncertainties and funding challenges, yet promising avenues for innovation and growth await. "Startups should focus on increasing their technology readiness level through university collaborations and market-funded programs, and work on addressing climate risk stress testing, including data availability and governance challenges," he advised, noting a bright outlook especially for agri- and water-tech sectors.

However, Ahya's Hassan highlighted that the scarcity of capital for climatetech is a major obstacle to progress. "The biggest challenge is that of investors not having the risk appetite or a specialized thesis, due to the need to dive deep into the macroeconomics and regulations, which are distinguishably different from other sectors, as well as the need to see climatetech returns on a mid to long term horizon," Hassan said. "Here, very few investors have a focus on climatetech. And enterprises, whilst having sustainability departments, do not have specialists running them and have a general view of sustainability as an operational expense or CSR function. This can only change through confidence building, and simplifying the macro regulatory context."

Echoing Hassan's view, Victor Sunyer, Partner at Dubai-based investment firm Nuwa Capital, said that venture capitalists, in line with market conditions, "will continue to exhibit increased selectivity and caution." This cautious approach comes just as UAE-based data platform Magnitt noted a significant global investment growth in climatetech. The sector saw $82 billion in investments in 2022, up 20% from the previous year.

Victor Sunyer, Partner, Nuwa Capital. Source: Nuwa Capital

In the more nascent Middle East, North Africa, and Turkey (MENAT) market, climatetech startups attracted $651 million across 148 ventures between 2018 and 2022. However, Nuwa Capital envisions climatetech as "a fundamental area for growth and investment in the region" over the next few years, Sunyer said, motivated by the urgency to mitigate climate change impact. "Consumer sensitivity towards responsible behavior adds momentum to this trend," he said. "We are pursuing investment opportunities in the climate action space, spanning both early and growth stages."

Sunyer also said that the region is seeing "the beginnings of a solid climatetech ecosystem", also pointing to accelerator programs sponsored by major energy companies directing their focus to energy efficiency and transition. ADNOC, for example, launched a $1 million decarbonization technology challenge last year. Sunyer also noted "heightened enthusiasm" for water management and efficiency post-COP28, as well as technologies focused around low-carbon foods and locally grown produce, and on reducing building energy consumption. "Given the relevance of the construction sector and the climatic conditions, implementing energy-conserving measures for buildings is crucial for enhancing overall energy efficiency," Sunyer said. "Anticipated strides by policymakers in this regard underscore the potential impact."

With buildings accounting for nearly 40% of global carbon emissions, Maged Marie, CEO at Egypt-based real estate firm Magnom Properties, emphasized the role of the built environment in global energy transition discussions at COP28. The summit focused on practical solutions to decarbonize the buildings sector, Marie said, describing it as a move to "course-correct."

Maged Marie, CEO, Magnom Properties. Source: Magnom Properties

At the summit, the governments of France and Morocco, alongside the UN Environment Program (UNEP), launched the Buildings Breakthrough, setting a goal for near-zero emissions and climateresilient buildings by 2030– an initiative Marie lauded as one of the "most important sector-specific outcomes" at the conference in Dubai. "While the speed and scale of urbanization globally has brought manifold challenges to the climate crisis, the buildings sector is also uniquely positioned to be part of the solutions as we move forward on the path of net zero," Marie said. "At Magnom Properties, for instance, we are tapping into the long-term potential of clean hydrogen to power 75% of the total energy demands of the Forbes International Tower in Cairo, Egypt, designed to be one of the most sustainable buildings globally."

The Forbes International Tower, a commercial project planned to be constructed in locations including the UAE, Saudi Arabia, and Egypt, will also use solar power, while also incorporating water recycling and smart technologies for efficient use. The tower is set to reduce its carbon footprint by 58%, equivalent to 60 million kilograms of carbon dioxide emissions, and it is also targeting Platinum LEED certification.

Commenting on the industry as a whole, Louise Collins, Head of Engineering and Energy for the MEA, and Head of Project and Development Services for the UAE, at real estate services firm JLL, said that sustainability is "high on the agenda" for both local and global businesses operating in the real estate sector. More time, resources, and money are being spent on sustainability, she said, which is expected to continue in the years ahead. According to JLL, 59% of the top 100 office occupiers in Dubai have carbon commitments.

Louise Collins, Head of Engineering and Energy for the MEA, and Head of Project and Development Services for the UAE, JLL. Source: JLL

Collins said that much of the demand for low-carbon space is coming from international occupiers. But the Emirate faces a unique set of challenges in meeting this demand, she said, including extreme climate conditions, rapid urban development, and high-energy demand buildings. That said, the market also presents unique opportunities. "As Dubai continues to develop rapidly, local government officials and developers benefit from implementing stringent buildings codes and construction practices to ensure buildings are sustainable at the onset– a much easier route than having to go through expensive and complex retrofits," Collins explained. "Building owners can also capitalize on abundant solar energy potential and leverage smart city technologies."

A spokesperson from NWTN, a UAE-based electric car manufacturer and green energy provider, forecasted transformative shifts in the regional energy landscape, including an uptick in investments in renewables like solar and wind power, that would potentially lead to the emergence of new renewable tech companies. "Given the UAE's abundant solar resources, innovations in solar energy, such as more efficient photovoltaic cells or concentrated solar power systems, are particularly promising," the spokesperson said. "Wind energy, especially offshore wind turbines, could also see significant advancements."

Other promising technologies include green hydrogen produced using renewable energy sources. "It can be used in various sectors, including transportation, industry, and power generation, making it a versatile option for decarbonization," the spokesperson said. These, along with advanced energy storage systems including batteries and other novel storage technologies, along with smart grid technology, are essential for managing the intermittent nature of renewable energy sources.

Peter May, Vice President of Operations at Dubai-based proptech startup Silkhaus, underscored the shared collective accountability for climate action. "Climate action is everyone's responsibility across sectors, and not just that of cleantech businesses," he said. But startups face challenges, he added, in "avoiding the lure of greenwashing," and resisting the misconception that purchasing carbon credits is a primary solution. Advocating for a more comprehensive approach, May said companies need to focus on education, optimization, and direct impact reduction.

Peter May, VP of Operations, Silkhaus. Source: Silkhaus

But despite hurdles in the shift to green, May is upbeat about COP28's long-term effect on Middle East economies. Ultimately, the unprecedented agreement is encouraging as it aligns with the region's ambitions to diversify away from oil-dependence, he said. After all, expanding into non-oil sectors -while fostering sustainable practices- is a win-win scenario.

Related: What Are The Climate Solutions That We're Leaving On The Table? Ask Women Entrepreneurs.

Megha Merani

Independent Journalist

Megha Merani is an independent journalist based in Dubai, United Arab Emirates. Her stories have made headlines across a number of publications including Reuters, Associated Press, Entrepreneur Middle EastBloomberg Middle East, Arabian Gulf Business Insight, Arabian Business, and former local daily 7DAYS.

Megha also produces editorial for government platforms including the World Government Summit and World Economic Forum's Annual Meeting of the Global Future Councils. She has been a grant winner of the Thomson Reuters Foundation and The Global Initiative Against Organized Crime funded by the government of Norway to report on the online trade in illegal wildlife.

Megha is also an Associate Fellow (AFHEA) at Murdoch University in Dubai and leads its Digital Newsroom course unit. In addition, Megha serves as a United Nations Women mentor to support equal opportunities for women entrepreneurs, and supports various other programs including TIE Women, 60 Day Startups, and the Watt Inc. Business Incubator.

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The huge investment packages are said to come with the full support of Saudi Arabia Crown Prince HRH Mohammed bin Salman bin Abdulaziz Al Saud, who remains committed to accelerating tech developments in Saudi Arabia.

The region's energy transition is also being driven by a number of national and international initiatives, including the UAE's National Energy Strategy and the International Renewable Energy Agency.

The Middle East region has a number of opportunities for growth and development in the renewable energy sector, including the potential for solar and wind energy production.

The region's energy transition is expected to continue to grow in the coming years, with a number of new projects and initiatives underway.

Title:

Content: Chairman of the Board of Directors and Editors
I'm sorry.
Mohamad Elbaz
Chairman of the Board of Directors and Editors
I'm sorry.
Mohamad Elbaz
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 UAE, Saudi Arabia, and Egypt are among the countries leading the way in the region's energy transition, with a number of large-scale solar and wind projects underway.

Title:

Content: Chairman of the Board of Directors and Editors
I'm sorry.
Mohamad Elbaz
Chairman of the Board of Directors and Editors
I'm sorry.
Mohamad Elbaz
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.

Title:

Content: In numbers...
Arab countries race to double their renewable energy production by 2030
ECONOMY
Publish
3 minutes read
DUBAI, United Arab Emirates — (CNN) Arab countries are on track to grow their utility-scale wind and solar capacity by more than 500% by 2023, according to a report by Global Energy Monitor.
According to the report, the Middle East and North Africa (MENA) region has enormous potential for large-scale wind and solar power projects because of its favorable climate and sunny weather for most of the year.
Arab countries are planning more than 73 gigawatts of utility-scale solar and wind projects, a more than fivefold increase in current capacity, which together with operational projects will account for 91% of the Arab League ’ s renewable energy goals for 2030.
The UAE is at the top of the list of Arab countries that produce the most electricity from solar energy, with solar plants producing 2.6 gigawatts of electricity.
Egypt is among the Arab countries that produce the most electricity from wind power at 1.6 gigawatts.
Egypt produces 1.9 gigawatts of electricity from solar power plants.
Egypt ’ s total electricity production from both places it at the top of the list of Arab countries with a production capacity of 3.5 gigawatts.
Thanks to its huge investments in solar electricity production, the UAE ranks second in wind and solar electricity production, followed by Morocco in third place with 1.9 GW and Jordan in fourth place with 1.7 GW.
While Egypt, the United Arab Emirates, Morocco and Jordan are the first Arab countries to initiate wind and solar power plants, Oman, Algeria and Kuwait are poised to follow suit, ranking first in expected solar and wind power production in the near future.
Here are the top Arab countries in terms of the current operation of solar and wind energy on the scale of utilities and the capacity of wind and solar energy expected to be produced at the level of each country in the Arab region.

The region's energy transition is driven by a combination of factors, including government incentives, declining technology costs, and growing demand for clean energy.

The Middle East region is expected to play a significant role in the global energy transition, with a number of countries investing heavily in solar and other renewable energy sources.

The region's energy transition is expected to have a significant impact on the local economy, with the potential to create new jobs and industries in the renewable energy sector.

The region's energy transition is also being driven by a number of international agreements and initiatives, including the Paris Agreement and the United Nations' Sustainable Development Goals.

The UAE has launched a number of initiatives to support the development of renewable energy projects, including the Mohammed bin Rashid Al Maktoum Solar Park.

The park is a key project in the region's energy transition, with a capacity of 5,000 megawatts and a goal of reducing carbon emissions by 6.5 million tonnes per year.

The Middle East region has a number of advantages that make it an attractive location for solar energy production, including high levels of solar radiation and a growing demand for clean energy.

The region's energy transition is expected to continue to grow in the coming years, with a number of new projects and initiatives underway.

Title:

Content: Chairman of the Board of Directors and Editors
I'm sorry.
Mohamad Elbaz
Chairman of the Board of Directors and Editors
I'm sorry.
Mohamad Elbaz
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 UAE, Saudi Arabia, and Egypt are among the countries leading the way in the region's energy transition, with a number of large-scale solar and wind projects underway.

Title:

Content: Chairman of the Board of Directors and Editors
I'm sorry.
Mohamad Elbaz
Chairman of the Board of Directors and Editors
I'm sorry.
Mohamad Elbaz
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.

Title:

Content: In numbers...
Arab countries race to double their renewable energy production by 2030
ECONOMY
Publish
3 minutes read
DUBAI, United Arab Emirates — (CNN) Arab countries are on track to grow their utility-scale wind and solar capacity by more than 500% by 2023, according to a report by Global Energy Monitor.
According to the report, the Middle East and North Africa (MENA) region has enormous potential for large-scale wind and solar power projects because of its favorable climate and sunny weather for most of the year.
Arab countries are planning more than 73 gigawatts of utility-scale solar and wind projects, a more than fivefold increase in current capacity, which together with operational projects will account for 91% of the Arab League ’ s renewable energy goals for 2030.
The UAE is at the top of the list of Arab countries that produce the most electricity from solar energy, with solar plants producing 2.6 gigawatts of electricity.
Egypt is among the Arab countries that produce the most electricity from wind power at 1.6 gigawatts.
Egypt produces 1.9 gigawatts of electricity from solar power plants.
Egypt ’ s total electricity production from both places it at the top of the list of Arab countries with a production capacity of 3.5 gigawatts.
Thanks to its huge investments in solar electricity production, the UAE ranks second in wind and solar electricity production, followed by Morocco in third place with 1.9 GW and Jordan in fourth place with 1.7 GW.
While Egypt, the United Arab Emirates, Morocco and Jordan are the first Arab countries to initiate wind and solar power plants, Oman, Algeria and Kuwait are poised to follow suit, ranking first in expected solar and wind power production in the near future.
Here are the top Arab countries in terms of the current operation of solar and wind energy on the scale of utilities and the capacity of wind and solar energy expected to be produced at the level of each country in the Arab region.

The region's energy transition is driven by a combination of factors, including government incentives, declining technology costs, and growing demand for clean energy.

The Middle East region is expected to play a significant role in the global energy transition, with a number of countries investing heavily in solar and other renewable energy sources.

The region's energy transition is expected to have a significant impact on the local economy, with the potential to create new jobs and industries in the renewable energy sector.

The region's energy transition is also being driven by a number of national and international initiatives, including the UAE's National Energy Strategy and the International Renewable Energy Agency.

The Middle East region has a number of opportunities for growth and development in the renewable energy sector, including the potential for solar and wind energy production.

The region's energy transition is expected to continue to grow in the coming years, with a number of new projects and initiatives underway.

Title:

Content: Chairman of the Board of Directors and Editors
I'm sorry.
Mohamad Elbaz
Chairman of the Board of Directors and Editors
I'm sorry.
Mohamad Elbaz
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 UAE aims to achieve net zero emissions by 2050, with a goal of reducing carbon emissions by 23% by 2030.

The country has launched a number of initiatives to support the development of renewable energy projects, including the Mohammed bin Rashid Al Maktoum Solar Park.

The park is a key project in the region's energy transition, with a capacity of 5,000 megawatts and a goal of reducing carbon emissions by 6.5 million tonnes per year.

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

Beta V.1.0 - Powered by automated translation

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 Middle East region has a number of advantages that make it an attractive location for solar energy production, including high levels of solar radiation and a growing demand for clean energy.

The region's energy transition is expected to continue to grow in the coming years, with a number of new projects and initiatives underway.

Title:

Content: Chairman of the Board of Directors and Editors
I'm sorry.
Mohamad Elbaz
Chairman of the Board of Directors and Editors
I'm sorry.
Mohamad Elbaz
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.

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

Beta V.1.0 - Powered by automated translation

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
EDITOR'S PICKS
NEWSLETTERS
MORE FROM THE NATIONAL

The UAE, Saudi Arabia, and Egypt are among the countries leading the way in the region's energy transition, with a number of large-scale solar and wind projects underway.

Title:

Content: Chairman of the Board of Directors and Editors
I'm sorry.
Mohamad Elbaz
Chairman of the Board of Directors and Editors
I'm sorry.
Mohamad Elbaz
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.

Title:

Content: In numbers...
Arab countries race to double their renewable energy production by 2030
ECONOMY
Publish
3 minutes read
DUBAI, United Arab Emirates — (CNN) Arab countries are on track to grow their utility-scale wind and solar capacity by more than 500% by 2023, according to a report by Global Energy Monitor.
According to the report, the Middle East and North Africa (MENA) region has enormous potential for large-scale wind and solar power projects because of its favorable climate and sunny weather for most of the year.
Arab countries are planning more than 73 gigawatts of utility-scale solar and wind projects, a more than fivefold increase in current capacity, which together with operational projects will account for 91% of the Arab League ’ s renewable energy goals for 2030.
The UAE is at the top of the list of Arab countries that produce the most electricity from solar energy, with solar plants producing 2.6 gigawatts of electricity.
Egypt is among the Arab countries that produce the most electricity from wind power at 1.6 gigawatts.
Egypt produces 1.9 gigawatts of electricity from solar power plants.
Egypt ’ s total electricity production from both places it at the top of the list of Arab countries with a production capacity of 3.5 gigawatts.
Thanks to its huge investments in solar electricity production, the UAE ranks second in wind and solar electricity production, followed by Morocco in third place with 1.9 GW and Jordan in fourth place with 1.7 GW.
While Egypt, the United Arab Emirates, Morocco and Jordan are the first Arab countries to initiate wind and solar power plants, Oman, Algeria and Kuwait are poised to follow suit, ranking first in expected solar and wind power production in the near future.
Here are the top Arab countries in terms of the current operation of solar and wind energy on the scale of utilities and the capacity of wind and solar energy expected to be produced at the level of each country in the Arab region.

The region's energy transition is driven by a combination of factors, including government incentives, declining technology costs, and growing demand for clean energy.

The Middle East region is expected to play a significant role in the global energy transition, with a number of countries investing heavily in solar and other renewable energy sources.

The region's energy transition is expected to have a significant impact on the local economy, with the potential to create new jobs and industries in the renewable energy sector.

The region's energy transition is also being driven by a number of international agreements and initiatives, including the Paris Agreement and the United Nations' Sustainable Development Goals.

The UAE has launched a number of initiatives to support the development of renewable energy projects, including the Mohammed bin Rashid Al Maktoum 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

Beta V.1.0 - Powered by automated translation

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
EDITOR'S PICKS
NEWSLETTERS
MORE FROM THE NATIONAL

The park is a key project in the region's energy transition, with a capacity of 5,000 megawatts and a goal of reducing carbon emissions by 6.5 million tonnes per year.

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

Beta V.1.0 - Powered by automated translation

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
EDITOR'S PICKS
NEWSLETTERS
MORE FROM THE NATIONAL

The Middle East region has a number of advantages that make it an attractive location for solar energy production, including high levels of solar radiation and a growing demand for clean energy.

The region's energy transition is expected to continue to grow in the coming years, with a number of new projects and initiatives underway.

Title:

Content: Chairman of the Board of Directors and Editors
I'm sorry.
Mohamad Elbaz
Chairman of the Board of Directors and Editors
I'm sorry.
Mohamad Elbaz
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.

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

Beta V.1.0 - Powered by automated translation

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
EDITOR'S PICKS
NEWSLETTERS
MORE FROM THE NATIONAL

The UAE, Saudi Arabia, and Egypt are among the countries leading the way in the region's energy transition, with a number of large-scale solar and wind projects underway.

Title:

Content: Chairman of the Board of Directors and Editors
I'm sorry.
Mohamad Elbaz
Chairman of the Board of Directors and Editors
I'm sorry.
Mohamad Elbaz
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.

Title:

Content: In numbers...
Arab countries race to double their renewable energy production by 2030
ECONOMY
Publish
3 minutes read
DUBAI, United Arab Emirates — (CNN) Arab countries are on track to grow their utility-scale wind and solar capacity by more than 500% by 2023, according to a report by Global Energy Monitor.
According to the report, the Middle East and North Africa (MENA) region has enormous potential for large-scale wind and solar power projects because of its favorable climate and sunny weather for most of the year.
Arab countries are planning more than 73 gigawatts of utility-scale solar and wind projects, a more than fivefold increase in current capacity, which together with operational projects will account for 91% of the Arab League ’ s renewable energy goals for 2030.
The UAE is at the top of the list of Arab countries that produce the most electricity from solar energy, with solar plants producing 2.6 gigawatts of electricity.
Egypt is among the Arab countries that produce the most electricity from wind power at 1.6 gigawatts.
Egypt produces 1.9 gigawatts of electricity from solar power plants.
Egypt ’ s total electricity production from both places it at the top of the list of Arab countries with a production capacity of 3.5 gigawatts.
Thanks to its huge investments in solar electricity production, the UAE ranks second in wind and solar electricity production, followed by Morocco in third place with 1.9 GW and Jordan in fourth place with 1.7 GW.
While Egypt, the United Arab Emirates, Morocco and Jordan are the first Arab countries to initiate wind and solar power plants, Oman, Algeria and Kuwait are poised to follow suit, ranking first in expected solar and wind power production in the near future.
Here are the top Arab countries in terms of the current operation of solar and wind energy on the scale of utilities and the capacity of wind and solar energy expected to be produced at the level of each country in the Arab region.

The region's energy transition is driven by

The region's energy transition is driven by

The region's energy transition is driven by