The Middle East region is undergoing a significant energy transition, with several countries investing heavily in renewable energy, particularly solar energy, as part of their strategies to diversify their economies and reduce dependence on oil.

The United Arab Emirates (UAE) has adopted a resolution to transition away from coal, oil, and gas as part of its energy transition strategy, and aims to reach 100 gigawatts of renewable energy capacity, with at least $3 trillion to be invested in renewable energy in the next 10 years.

Saudi Arabia has invested $40 billion in high-tech vehicles and is aiming to be carbon neutral by 2060, while the UAE is building the world's largest solar plant in the Al Dhafra region, with a planned investment of $163.5 billion in clean energy projects by 2050.

Egypt is targeting 42% of electricity from renewables by 2035 and has established a solar power plant in Biban and wind power plants on the Red Sea coast, and the Middle East and North Africa (MENA) region is expected to account for 34% of electricity investment in renewables by 2026.

The region has 10% of global carbon capture and storage capabilities, and green finance in the MENA region reached $3.8 billion in 2020 and grew significantly in 2022 in Turkey, UAE, Egypt, and Saudi Arabia.

The UAE has a hydrogen strategy and is discussing green finance and project investments at the World Future Energy Summit, and the MENA region receives 22-26% of global solar radiation energy due to its location, making it an ideal place for solar energy investments.

The region is expected to be 10-20% of the global hydrogen market by 2050, with hydrogen generating $120-200 billion annual revenues, and the Arab Energy Conference discusses energy transformation and sustainable development, with countries like Kuwait leading the transformation to renewable energy.

The UAE has 3.2 GW solar power capacity currently, with Al Dhafra solar farm being 2 GW, and aims for 14 GW renewable energy by 2030, while Qatar's current solar capacity project is 875 megawatts, and the country targets 5 GW of solar power by 2035.

The Benban Solar Park in Egypt has a capacity of 1,800 megawatts and is valued at $4 billion, and the Mohammed bin Rashid Solar Park in Dubai has 5 GW capacity and is expected to reach 5000 MW capacity by 2030.

Egypt has enormous natural potential for solar energy production and aims to reach 42% of renewable energy by 2030, and the UAE is investing $163.5bn in clean energy projects by 2050 and aims to host the World Future Energy Summit in January.

The Middle East saw a 12.8% increase in renewables in 2022, and Arab countries plan to invest $1 trillion in renewables by 2040, with the region having 73 gigawatts of planned solar and wind projects, and Arab countries aiming to double renewable energy production by 2030.

Larsen & Toubro has secured a 3.5 GW solar project in the Middle East, which will be a valuable addition to the company's green portfolio, and the Arab Clean Energy Initiative aims for 80 GW capacity by 2030, and the Gulf of Suez Wind Power Project has 1100 MW capacity.

The UAE ranks second in wind and solar electricity production, while Egypt ranks first in total electricity production from solar and wind, and the Al Dhafra solar farm in Abu Dhabi has 2 GW power and reduces carbon emissions by 2.4 million tons per year.

The Egyptian government has set a target of producing 29,784 GWh of clean energy annually from new projects, which will help reduce the country's reliance on fossil fuels, and the Middle East region has high solar energy potential, with countries like Saudi Arabia, UAE, Morocco, and Egypt having high annual solar radiation.

The region aims to increase energy efficiency by 2030 and has 1,500 GW of renewable energy ready for deployment, and energy storage is key to tripling renewables by 2030 and increasing them nine-fold by 2050, with countries like the UAE and Saudi Arabia investing in advanced energy storage technologies.

Batteries are essential for grid regulation and reducing disruptions in renewable energy generation, and countries are working to integrate renewables into smart grids, with around 1,500 GW of renewable energy ready for deployment but cannot be integrated into networks.

The Middle East Solar Industry Association has released the Solar Outlook 2024 report, providing insights into the region's solar energy market and opportunities for growth, and Iraq targets 12 gigawatts of renewable energy by 2030, with its renewable energy expected to account for 33% of its electricity mix by 2030.

Egypt aims to be a regional energy hub by 2030, with Arab countries increasing their renewable energy capacity by 57%, and the UAE, Saudi Arabia, and other Middle Eastern countries are developing renewable energy projects, including solar and wind power, to reduce their dependence on oil and gas.

These efforts are expected to have a positive impact on both the local economy and climate goals, with the potential to reduce carbon emissions and create new job opportunities, and the integration of renewables into smart grids is crucial for achieving climate goals, with countries working to develop advanced energy storage technologies to support this transition.

Green hydrogen and advanced energy storage are promising technologies that can support the transition to a low-carbon economy, and the UAE's Masdar City is the most sustainable urban community in the world, with a focus on renewable energy and energy efficiency.

Huawei has established 163 ICT academies in the Middle East to promote sustainability and has used 300 million kWh of electricity from renewable sources in 2021, and the Bahrain World Trade Centre is the first skyscraper with wind turbines for total energy consumption, demonstrating the potential for renewable energy in urban areas.

The Middle East countries are facing challenges in their energy transition, including debt problems, imperfect grid planning, and a lack of energy storage infrastructure, but with the help of foreign technology and talent, these countries can overcome these challenges and achieve their renewable energy targets.

The region's energy transition is expected to have a significant impact on the global energy market, with the potential to reduce carbon emissions and create new economic opportunities, and the UAE has invested $54.5 billion in renewable energy, highlighting the region's growing commitment to the energy transition.

The Middle East faces challenges in ESG reporting and regulations, which can impact the effectiveness of energy transition strategies, and Saudi Arabia is transitioning to a circular carbon economy, a significant step towards reducing the country's reliance on oil.

Bahrain has refinanced $2.2 billion in sustainability-linked corporate finance, demonstrating the growing importance of sustainable practices in the region, and Oman is exploring green hydrogen as a clean energy source, which could play a crucial role in the region's energy transition.

The UAE aims to achieve net zero emissions by 2050, with the "Net Zero by 2050 Initiative" having a $163 billion investment budget, and Saudi Arabia has set a goal of 50% renewable energy by 2030, which will require significant investment in solar and wind energy projects.

Qatar is the world's highest emitting country and largest producer of liquefied gas, making it a critical player in the region's energy transition, and the UAE's climate crisis costs $6 billion annually in health costs, emphasizing the need for urgent action to reduce emissions.

The salinity of the Gulf states' waters has increased by 20% due to desalination plants, which can have significant environmental impacts, and warming rates in the Middle East are twice as high as the global average, making the region particularly vulnerable to climate change.

Mecca may not be livable by 2100 due to climate change, highlighting the urgent need for climate action in the region, and the Gulf states rely heavily on oil and gas exports, accounting for 70% of goods exported, making the energy transition a critical economic issue.

Saudi Arabia relies on 75% of its oil resources for its budget, emphasizing the need for diversification and investment in renewable energy, and stakeholder engagement is critical for successful energy projects, with local communities and stakeholders must be engaged before construction.

Community engagement is essential for mitigating the social ramifications of the low-carbon transition and ensuring that the energy transition benefits local communities, and economic development services can facilitate stakeholder engagement, and partnering with experienced providers can avoid project delays and protests.

The World Bank has developed environmental and social standards to protect communities, which can be applied to energy transition projects in the Middle East, and training on environmental management and social affairs is provided, which can help build capacity and ensure that energy transition projects are implemented sustainably.

The UN report notes Arab region progress in renewable energy generation, with 91% electricity access and 42 million people lacking access, and five Arab countries have pledged to achieve net zero emissions, with the UAE and Oman aiming for net zero by 2050 and Bahrain, Kuwait, and Saudi Arabia aiming for net zero by 2060.

The Middle East and North Africa Climate Week 2023 discussed renewable energy transition, with a focus on carbon emissions mitigation and climate change programs, and

The Middle East region is undergoing a significant energy transition, with several countries investing heavily in renewable energy, particularly solar energy, as part of their strategies to diversify their economies and reduce dependence on oil.

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Content: Wednesday 05 April 2023
Chairman of the Board of Directors and Editors
Abdurrahim Ali
Editor-in-Chief
Dalia Abdul Rahim
Chairman of the Board of Directors and Editorial Board
Abdurrahim Ali
Editor-in-Chief
Dalia Abdul Rahim
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$120 MILLION INVESTMENTS FOR THE FIRST WASTE TRANSFORMATION PLANT FOR ELECTRICAL ENERGY IN AB
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Minister of Environment Yasmine Fouad, Minister of Electricity and Renewable Energy Mohamed Shaker, Minister of Finance Mohamed Maait, Minister of Local Development Hisham Amna and Minister of Military Production Mohamed Salah El-Din signed a contract to finance, design, construct, exploit, maintain and transfer the ownership of the first plant to convert municipal solid waste into electricity between Giza Governorate and Renergy Group. Partners, with a total cost of about $120 million direct investment, is a milestone in Egypt ’ s localization of waste-to-electricity technology and enhanced partnership with the private sector.
Dr. Fouad stressed that this step is the culmination of a long journey and a success story of a journey that lasted 3 years, with constructive cooperation between the concerned ministers, and the Egyptian government has adopted a national strategy to allocate part of the collected municipal solid waste amounting to 4.5 to 5 million tons annually to convert it into energy. The use of waste as a source of energy is one of the national projects in which the Ministry of Environment participates in cooperation with several official bodies, such as the ministries of military production, local development and electricity, and comes within the framework of a package of incentives and guarantees provided by the government to encourage the private sector in Egypt to invest in waste management.
The Minister of Environment pointed out that the issuance of the Council of Ministers Resolution No. 41 of 2019 on the tariff of electric feeding generated from (municipal solid waste - biogas extracted from safe sanitary landfills - sludge from sewage treatment plants), was the cornerstone of the construction, where a national committee was formed with the participation of representatives of various parties, and issued a guide for projects to convert waste to energy. In April 2020, it was announced to receive requests for interest from companies wishing to invest in the field of converting waste to energy, and the number of companies advanced was (92) companies, evaluated through a technical committee, and the completion of the rehabilitation of (53) companies, including 19 Egyptian companies, and 34 foreign companies.
The minister pointed out that waste is not only a national challenge, but it is linked to a global challenge that is climate change, where waste is the second source of greenhouse gas emissions in Egypt after the energy sector with 13% of Egypt ’ s emissions, and the involvement of the private sector is a significant step forward. Wastes for electric power implemented 16 plants, which means adding direct investment to the private sector in the waste sector by about $1.6 billion.
The minister added that the creation of a climate supportive of the entry of the field of waste conversion to electricity requires three steps, namely the issuance of the Waste Management Law and the feeder tariff in 2020, the preparation of the contract, which is highly complex due to the multiplicity of partners, in addition to the state setting a number of incentives through the new investment law in four areas, namely waste management, new and renewable energy, green hydrogen and plastic alternatives.
The Minister of Environment explained that in implementation of the mandates of His Excellency the President to focus on Egyptian companies in the implementation of the first phase of projects to convert waste to energy, in order to localize technology and support national companies, criteria were set for the selection of 8 Egyptian companies, and the Prime Minister met with investors. Wm (Atsa), Beheira (Abu Matamir), Damietta (Abu Jarida), Menoufia (Eshmoun), Sharqiya (Husseiniya)
"Since the decision to start the implementation of this project as the first project to convert waste to electricity, the Ministry of Environment has been keen to complete all the procedures for contracting the right of use for the design, construction and operation of the power plant from solid waste, through a major consultative process in cooperation with all partners," she said. Between the competent administrative authority and the investor and its approval, legal review, holding consultation sessions with the concerned authorities, and then reviewing and approving the contract by the Fatwa Department of the State Council, until we reached the day of signing the contract, which is a starting point for the implementation of the project.
The minister pointed out that this contract is a real step to start the first projects to convert municipal solid waste to electricity, which is a model for sustainable development projects and the green economy, where it achieves the environmental dimension by reducing the accumulation of waste within the provinces that lead to environmental damage and emissions, and reduce the amount of waste buried in health landfills, in order to reduce pressure on them and help sustain them for longer periods. By enabling the production of electricity that is suitable for self-use in the plant and for connection to the network, which provides a material return and provides a new source of energy, and contributes to the implementation of a type of project under the golden license within the framework of the green transformation of the state.
The Minister thanked the teams of all ministries and partners in the implementation of the project, and appreciated their efforts over the past years to overcome the obstacles and meet the challenges to bring this project to light.
For his part, Minister of Electricity and Renewable Energy Mohamed Shaker stressed the importance of encouraging investment in this field within the framework of the global and local trend to increase the share of renewable energies and switch to clean green energy. these projects.
Minister of Finance Mohamed Maait stressed that the projects of converting solid waste to electricity create a new path to promote environmentally friendly investments in the sectors of development and economic priority, in a way that leads to the establishment of a healthy environment and achieve an economic return, in line with the efforts of the transformation of the green economy.
The Minister of Finance added that we look forward to more contributions from the private sector in the national priority investments, in light of the unprecedented support provided by the government to enhance its participation in economic activity, through many tax and customs incentives, and supporting production, including the initiative to support the agricultural and industrial productive sectors, which applies to new and renewable energy activities. He pointed out that the state treasury also bears 5 billion pounds worth of real estate tax on industrial and productive sectors for three years, as part of the continuous support to maximize our productive capacities in light of the successive global crises.
The Minister of Finance pointed out that there are financial incentives to deepen the automotive industry in Egypt and encourage the transition to the use of gas and electricity, pointing out that we are continuing to implement the presidential initiative to replace obsolete vehicles to work with natural gas, where 15 governorates have been covered so far. The Framework for Sustainable Sovereign Finance was launched during the previous Climate Summit, which represents an important step in the field of innovative financing to achieve most of the United Nations Sustainable Development Goals, by covering 10 axes, including: New and Renewable Energy, pointing out that the new and renewable energy projects are at the forefront of the concerns of the sector « Partnership with the private sector in the Ministry of Finance P.P.P.P.P. ». to 10 billion pounds of electricity, in line with maximizing green transformation efforts.
For his part, Major General Hisham Amna stressed the ministry 's keenness to provide all support for the success of the important project in implementation of the directives of the President of the Republic and his support for the projects of converting waste to energy and expanding new and renewable energy projects to preserve the environment. He pointed out that Giza Governorate has contracted with the alliance of the Ministry of Military Production represented by the alliance of RENERGY GROUP PARTNERS to establish a municipal solid waste treatment plant to convert it to electric power in Aborwash area to process a capacity of 1200 tons / day and investment costs estimated at $120 million.
The Minister of Local Development said that the land was allocated for the establishment of the project for the Ministry of Military Production and the environmental impact assessment studies of the project were prepared, as well as the cadastral lift and the preliminary feasibility study of the project with the work of the initial design of the plant in the project land. This technology in the treatment of waste that the amount of the final rejected that will be buried healthy safe only 5% compared to the current technologies, which the size of rejected 25%, which leads to the optimal utilization of the safe burial sites that have been built to extend the life time of them and thus preserve Egypt ’ s resources of land.
For his part, Minister of State for Military Production Mohamed Salahuddin Mustafa stressed the keenness of all concerned parties to move forward in the implementation of this important project, which will contribute to improving the environmental, health and living conditions of citizens and reduce pollution rates, in light of the directives of President Abdel Fattah Al-Sisi to work on implementing projects that contribute to improving the lives of citizens and providing them with a decent life. He pointed out that this project is based on an exceptional partnership between the public and private sectors, adding that the transfer of knowledge and advanced and modern technical industry to Egypt in the field of waste recycling, where the industry will be localized from equipment within the factories of the Ministry of Military Production.
Major General Ahmed Rashid, Governor of Giza, stressed that the integrated management system of municipal solid waste is one of the difficult challenges facing the state to find sustainable and immediate solutions in the treatment of municipal solid waste through converting it into electricity, which contributes to maintaining the environmental balance, reducing air pollution emissions, and maximizing the economic value of waste. A clean card to take into account the factors of sustainability and the sustainable development strategy of the vision of Egypt 2030, in addition to seeking to achieve many of the expected economic goals that the state seeks to achieve by investing in such projects based on alternative sources of energy within green investment and relying on the establishment of green investment projects, which many countries of the world depend on as a main source of national income.
Major General Ahmed Rashid expressed his great happiness for the choice of Giza Governorate to establish the first factory of its kind to convert waste into energy, through which we can rely on the large population population of Giza Governorate, along with industrial areas and agricultural lands in the centers and cities of the governorate, which results in a huge amount of waste that can be used to feed that industry. And financial in the establishment of a municipal solid waste treatment plant and convert it into electricity, which contributes to the maintenance of public health of citizens.
Mr. Robert Falk, CEO of Renergy Group Partners, pointed out that the project is part of Egypt ’ s Vision 2030, where the plant will treat 1,200 tons of household waste and convert it into electrical energy and convert waste from a problem to a solution for renewable energy production, stressing that the project was developed under the supervision of the Ministry of Environment and cooperation with the relevant ministries. RATE, which means relieving the government financially, as the Renergy Group Alliance through its partners the Ministry of Military Production, Green Tech Egypt and Oak Holding will build, own and operate the project for 25 years, after which ownership of the plant will be transferred to Giza Governorate.

The United Arab Emirates (UAE) has adopted a resolution to transition away from coal, oil, and gas as part of its energy transition strategy, and aims to reach 100 gigawatts of renewable energy capacity, with at least $3 trillion to be invested in renewable energy in the next 10 years.

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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Content: Energy transition provides opportunity to transform, diversify economy: Sultan Al Jaber

Dr Sultan bin Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology and Special Envoy for Climate Change.

Globally, at least $3 trillion will be invested in renewable energy over the next ten years.

By WAM

Published: Tue 18 Jan 2022, 11:12 PM

Last updated: Tue 18 Jan 2022, 11:15 PM

The UAE sees the energy transition as an opportunity to transform and diversify the economic growth model of the country, according to Dr Sultan bin Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology and Special Envoy for Climate Change.

Speaking during a virtual panel session titled ‘Projecting COP Ambitions across COP27 and COP28 and Economic Diversification Priorities Post-pandemic’ at the Abu Dhabi Sustainability Week (ADSW), Dr. Al Jaber explained how the UAE and the Middle East and North Africa (Mena) region can take advantage of the drive to climate action.

Al Jaber was speaking alongside the Alok Sharma MP, President of COP26, and Sameh Shoukry, Minister of Foreign Affairs of Egypt and President-Designate of COP27, during the session moderated by Fred Kempe, President and CEO of the Atlantic Council.

Al Jaber said, “This region has specific advantages that can accelerate the energy transition from our position as energy leaders. Firstly, as long as the world continues to rely on oil and gas we can ensure reliable supplies of the least carbon intensive oil and gas available. We are leveraging this position to further drive down the carbon intensity through expansion of the first in the region carbon capture facility.

“We are also building on our unique capabilities in hydrogen to lay the foundation for a zero carbon hydrogen market. And, as you know, the UAE has been investing in the solar and broader renewable space for the last 15 years, and we are doubling down on this investment.”

Al Jaber pointed out that globally, at least $3 trillion will be invested in renewable energy over the next ten years. He said this represents a multi-trillion dollar opportunity that the UAE, the region and its international partners can capitalise on. “In fact, this is the thinking behind our Net Zero Strategic Initiative. Net zero, for us, is about new industries, new skills and new jobs. For us, the business of tackling climate change is simply good business.”

Dr Al Jaber cited the recent strategic partnership between Abu Dhabi National Energy Company PJSC (Taqa), Mubadala Investment Company (Mubadala) and Abu Dhabi National Oil Company (Adnoc) which transformed Masdar into a global clean energy powerhouse.

He said the new Masdar has almost doubled its renewable energy capacity and the ambition is to build on this solid foundation to reach 100 gigawatts (GW). Al Jaber called for partners, in the public and private sectors, to join the UAE and Masdar in delivering these ambitious goals that will lead to new industries, new skills, new jobs and new opportunities.

Responding to a question on the outcome of COP26 (the 26th United Nations Climate Change Conference), Dr. Al Jaber noted it was a success as Glasgow united 90 per cent of the world’s economy on the path to net zero. “COP 26 also succeeded in launching many coalitions between governments and businesses to accelerate innovation. AIM for Climate, which the UAE launched with the US and 34 other countries is a good example. This is a growing coalition that directs investment to agri-tech to reduce agricultural emissions, which account for as much a third of global emissions. And critically COP26 finally reached a deal on Article 6 of the Paris Agreement, which lays the foundation for effective carbon markets. All of this creates great momentum and a great platform which Egypt and the UAE can, and will, build on.”

On COP28 which is set to take place in Abu Dhabi in 2023, Al Jaber highlighted that it will mark the first ever global stocktake that will show us how we are tracking towards the Paris goals and, critically, it will set the roadmap towards 2030 and beyond. He added that the UAE is already working closely with the UK and Egypt to continue the momentum of COP26 and went on to detail the UAE’s approach to COP28.

“We want Abu Dhabi to be where the world turn pledges into concrete results and help take commercially viable climate solutions to scale around the world. This is why we want COP 28 to be as inclusive as possible, reflecting the views of developed alongside developing countries, the public and private sectors and scientists and civil society.”

“Inclusive also means including the expertise that exists across the energy spectrum, and specifically the hydrocarbon industry, because if we want to successfully transition to the energy system of tomorrow, we cannot simply unplug from the energy system of today. We need to make the current system work more efficiently with less carbon. We should leverage expertise from across the energy sector to find the climate solutions we need,” said Al Jaber as he stressed the need to always remember that the goal is to hold back emissions, not progress. — Wam

More news from Business

Saudi Arabia has invested $40 billion in high-tech vehicles and is aiming to be carbon neutral by 2060, while the UAE is building the world's largest solar plant in the Al Dhafra region, with a planned investment of $163.5 billion in clean energy projects by 2050.

Title:

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

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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Egypt is targeting 42% of electricity from renewables by 2035 and has established a solar power plant in Biban and wind power plants on the Red Sea coast, and the Middle East and North Africa (MENA) region is expected to account for 34% of electricity investment in renewables by 2026.

Title:

Content: Global News
The World Today - A pivotal and promising role for the countries of the region in the transition to renewable energy
You are now following the news of a pivotal and promising role waiting for the countries of the region in the transition to renewable energy from the news section of the world and now we leave you with full details
MARCH 3, 2023 02: 16 AM - The Middle East and North Africa (MENA) region has always played a pivotal role in the oil and gas markets, but this role will not stop if the world decides to move to low-emission sources of energy.
According to APRICORP, renewable energy investments are expected to account for 34 percent of electricity investment in the Middle East and North Africa between 2022 and 2026.
According to McKinsey & Company, the Middle East and North Africa receives 22 to 26 percent of the solar radiation energy on Earth, due to its geographical location.
Solar energy is not the only thing that distinguishes the region, as countries in this region are likely to be the source of 10 to 20 percent of the global hydrogen market by 2050, according to Roland Berger.
Hydrogen is likely to generate annual revenues of $120 billion to $200 billion by 2050, and many countries in the region have already started projects to transport and export hydrogen to energy-consuming countries.
The region has about 10 percent of global carbon capture and storage capabilities.
Despite the many challenges that countries in the region must face in this regard, the Middle East and North Africa (MENA) region has the potential to play a pivotal role in the global energy transition.
The most prominent question about green finance comes in this promising region.
Nael Amin, senior director of financial services at Arthur D. Little, said on this week ’ s episode of Dot Gulf ’ s World of Energy program that green finance in the Middle East and North Africa, including green bonds, had reached $3.8 billion in 2020.
This amount, according to Amin, has grown significantly during the year 2022, specifically in 4 countries, Turkey, the Arab Emirates, Egypt and Saudi Arabia, due to the development in the region and increased investments in this sector, as well as providing some important requirements in this sector.
Amin explained that besides financing, the region is witnessing progress in many areas in terms of dealing with environmental factors, which is an attractive factor for investors.
Over the past two years, banks have significantly increased their legislation in this area, as each of the Gulf countries has implemented the necessary standards and requirements to support the business environment in the field of green energy.
There are challenges, according to Amin, the most prominent of which is the data challenge, as he pointed out that banks are approaching the activities of customers to know the necessary data on funded projects, for example, in the case of financing the construction of a building, you must know the amount of energy that will be consumed by this building.
The Gulf States are working and collaborating with each other to understand the framework that must be adopted to develop infrastructure in the field of renewable energy and promote sustainability, which will positively impact and support green investment in general in the region.
We hope that we have succeeded in conveying the full details of a pivotal and promising role that awaits the countries of the region in the transition to renewable energy.
In God ’ s care and protection.
You may also read.

The region has 10% of global carbon capture and storage capabilities, and green finance in the MENA region reached $3.8 billion in 2020 and grew significantly in 2022 in Turkey, UAE, Egypt, and Saudi Arabia.

The UAE has a hydrogen strategy and is discussing green finance and project investments at the World Future Energy Summit, and the MENA region receives 22-26% of global solar radiation energy due to its location, making it an ideal place for solar energy investments.

Title:

Content: Highlights of the International Sustainability and Renewable Energy Movement at the World Future Energy Summit 2022
T + T - normal size
The World Future Energy Summit 2022 (WFES), which is taking place during Abu Dhabi Sustainability Week 2022 and hosted by Masdar, will feature sessions highlighting the latest strategies and trends in the international movement for sustainability and renewable energy at the Solar and Clean Energy Forum.
The summit comes as the solar sector continues to expand at an accelerated pace, with worldwide solar cell capacity expected to grow more than four-fold to 3,100 GW, while wind capacity will grow nearly 2.5 times to 1,850 GW by 2040, according to the IEA ’ s stated policy scenario.
More than 70 key experts and CEOs will share their insights on the dynamic transformation of the industry over the long term at the Solar and Clean Energy Forum.
At a time of increasing demand for clean energy, participants will discuss strategies to meet energy demand and work on the study and evaluation of new technologies.
Top investors and stakeholders from governments and companies, entrepreneurs, entrepreneurs, innovators and technology solution providers in the Middle East will attend the summit in person.
The topics to be discussed at the Clean and Solar Energy Forum will include the future of green hydrogen and the UAE hydrogen strategy, commercial and industrial uses of solar energy, mini-grids, grid and distributed power stability, green finance, project investments, operations, maintenance and asset management, energy storage in renewable environments, hybrid energy planning and the latest technologies.
Keynote speakers include Hind Al Mutawa, Director of Electricity and Energy Trade at the UAE Ministry of Energy and Infrastructure; Abdulaziz Al Obaidli, Director of Asset Management at TAQA; Bruce Stedal, Director of Asset Management at TRANSCO; Ahmed Al Mazrouei, Director of Electricity and Energy Trade at the UAE Ministry of Energy and Infrastructure; Lucas Sokol, Head of City Design, Sustainable Planning and Accreditation – Masdar; Carmen Vidal, President Executive Purchasing – Engie.
Grant Tuchten, Director of Group Events at the World Future Energy Summit, said: “We are delighted to once again welcome opinion leaders and exhibitors to an exceptional personal networking experience where they will be able to share business opportunities, innovation and knowledge. This will make the World Future Energy Summit the perfect platform to help establish new businesses and partnerships to drive the clean energy transition in the region. ”
The World Future Energy Summit 2022 provides free platforms that enable attendees to access valuable industry content, benefit from presentations by key stakeholders, attend industry panel discussions, explore best practice case studies, and learn about the latest industry trends.
The summit is the ideal forum for stakeholders to network and share business opportunities to promote clean energy transition and sustainable development in the MENA region.
Organised by RX Middle East, the World Future Energy Summit 2022 will take place at the Abu Dhabi National Exhibition Centre (ADNEC) from 17 to 19 January 2022 and will be hosted by Masdar as part of Abu Dhabi Sustainability Week, featuring a series of high-profile events addressing current global challenges and ways to collaborate to build a sustainable future for all.
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The region is expected to be 10-20% of the global hydrogen market by 2050, with hydrogen generating $120-200 billion annual revenues, and the Arab Energy Conference discusses energy transformation and sustainable development, with countries like Kuwait leading the transformation to renewable energy.

Title:

Content: Oil Minister: KPC ’ s 2040 Strategy is Strong and Ambitious in Energy Transformation Issues
Deputy Prime Minister and Minister of Oil and Minister of State for Economic Affairs and Investment Dr. Saad Al-Barrak said on Tuesday that KPC ’ s 2040 strategy program is strong and ambitious in the issues of energy transformation and carbon emission reduction.
In a speech during a ministerial session at the 12th Arab Energy Conference in Doha entitled (Energy, Environment and Sustainable Development), Barrak said that the countries of the region are serious about the issue of renewable and clean energy, expressing his pride that Kuwait, Saudi Arabia, Qatar, Egypt, the UAE, Jordan and Algeria are leading this transformation.
Barrak, who is also chairman of Kuwait Petroleum Corporation (KPC), said Middle East and North Africa countries, although rich in oil and gas, had raised their renewable energy capacity to 57 percent between 2022 and 2023.
"There is an attack on the so-called reduction of dependence on oil as a source of energy," he said, expressing surprise at the insistence on depriving many people and countries, most of them developing countries, of being the source of the economy that can transport them over the next 30 years to a life of prosperity, security and stability.
At the same time, he pointed out that Africa today needs about $25 billion a year to invest in energy until 2030, explaining that large numbers of people in Africa and elsewhere do not have access to electricity.
He pointed out that what drives the climate issue are “values ” related to the safety of the human environment, well-being and decent living, saying:“ Let us give the people of this region in Asia and Africa an opportunity to advance their resources, which God has granted to be in a position where they can exercise well-being. ”
For his part, Bahraini Minister of Oil and Environment Dr. Mohammed bin Dinah said in a similar speech during the session that the energy transition is not to serve the Framework Convention on Climate Change but to serve the peoples of the countries in which we live.
He added that fuel is an essential part of the economies or incomes of some countries, noting that it must be conserved and consumed in a balanced manner in order to be committed to the environment in the region in terms of carbon quantities.
For his part, the Director General of the Arab Planning Institute, Dr. Abdullah Al-Shami, said during the session that there are many challenges in the subject of energy, including the steady growth in the issue of cities and the demand for housing, which consumes 29% of the energy exported from oil and gas.
He added that the oil-exporting countries, mostly in the Middle East, are suffering from several problems such as increasing the cost of oil production, in addition to the lack of oil technology, such as oil exploration and lack of foreign investment, noting that these countries depend heavily on their oil revenues and energy.
Omer Farouk, secretary-general of the Organization of African Petroleum Producers, called for the need to look at the energy problem in a holistic way, not just focusing on fossil fuels.
If emissions are causing a climate problem, we need to confront and address emissions released by industrialized countries rather than targeting fossil fuels.
It is noteworthy that the 12th Arab Energy Conference was launched yesterday in Doha under the slogan (Energy and Arab Cooperation) and lasts for two days.
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Kona.
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The UAE has 3.2 GW solar power capacity currently, with Al Dhafra solar farm being 2 GW, and aims for 14 GW renewable energy by 2030, while Qatar's current solar capacity project is 875 megawatts, and the country targets 5 GW of solar power by 2035.

Title:

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

Title:

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

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

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

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

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

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

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

(Writing by SA Kader; Editing by Anoop Menon)

(anoop.menon@lseg.com

The Benban Solar Park in Egypt has a capacity of 1,800 megawatts and is valued at $4 billion, and the Mohammed bin Rashid Solar Park in Dubai has 5 GW capacity and is expected to reach 5000 MW capacity by 2030.

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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.

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Content: DEWA Projects and Initiatives Support COP28 Goals to Accelerate Energy Transition
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Dubai Electricity and Water Authority (DEWA) supports the objectives of the 28th session of the Conference of the Parties to the United Nations Framework Convention on Climate Change (COP28), which the UAE is hosting at Expo City Dubai, particularly in accelerating an orderly, equitable and responsible transition in the energy sector.
DEWA is implementing a number of pioneering projects to diversify the sources of clean energy production, including clean and renewable energy technologies in Dubai such as photovoltaics and concentrated solar energy in the Mohammed bin Rashid Al Maktoum Solar Park, green hydrogen production using solar energy, and hydropower stored in the Hatta hydropower project using clean energy, along with projects and initiatives to increase energy efficiency.
His Excellency Saeed Mohammed Al Tayer, Managing Director and CEO of DEWA, said: “In line with the vision of the wise leadership, we contribute through all our projects, events and ambitious plans to support the green economy and accelerate the transition to carbon neutrality by adding solar energy and other clean energy sources such as hydropower and green hydrogen to the energy mix, in line with the Dubai Clean Energy Strategy 2050 and Dubai Carbon Neutrality Strategy 2050. To provide 100% of energy production capacity from clean energy sources by 2050.
In the UAE ’ s Year of Sustainability, with the UAE hosting the 28th session of the Conference of the Parties to the United Nations Framework Convention on Climate Change (COP28), in which DEWA is a key partner of the track, we are stepping up our efforts to accompany and support this global event, which aims to lead the global shift from pledges to concrete actions. ”
He added: “The world is witnessing an increasing interest in investing in clean and renewable energy sources that will change the global energy landscape over the next few years by relying on environmentally friendly and relatively low-cost energy sources.
We are developing the production and use of green hydrogen as a key part of our transition to clean energy.
We invest in research and development initiatives to find innovative solutions for energy production, storage and distribution.
We are keen to provide global platforms to bridge the gap between the current situation and the 17 Sustainable Development Goals adopted by the United Nations for 2030, and build bridges of communication and constructive cooperation to support the momentum of climate action.
For several years now, we have stopped the launch of any new fossil fuel energy projects, limited new desalination projects to high-efficiency reverse osmosis technology using clean energy, and raised the fuel efficiency of major production units to about 90% at the best global level. ”
Some of the most prominent projects implemented by DEWA to support increased reliance on clean and renewable energy sources are:
The Mohammed bin Rashid Al Maktoum Solar Park, the world ’ s largest single-site solar park using the IPP model, will have a capacity of 5,000 megawatts by 2030, with solar PV and CSP technologies, with investments of up to AED 50 billion.
The current capacity of the complex is 2,627 MW, using solar PV and CSP technologies, equivalent to 16% of DEWA ’ s total power capacity of 16,270 MW.
The fourth phase of the complex, with a capacity of 950 MW and an investment of AED 15.78 billion under the IPP system, is the largest single-site concentrated solar power plant in the world combining concentrated solar power and solar PV technologies.
This phase includes the world ’ s tallest solar tower at 263,126 meters and the largest thermal energy storage capacity of 5,907 megawatt hours.
The Hesayan Independent Water Producer (IWP) desalination project, the world ’ s largest solar-powered desalination project, and DEWA ’ s first IWP project.
The project has a production capacity of 180 million gallons of desalinated water per day using reverse osmosis seawater desalination technology, with an investment of AED 3.357 billion (US $914 million).
The Hatta Hydropower Station project will have a capacity of 250 MW with a storage capacity of 1,500 MWh and a shelf life of up to 80 years.
This station is the first of its kind in the Arabian Gulf region.
The project ’ s investments amount to AED1.421 billion, with the pilot project expected to commence in mid-2024.
A pilot project for the production of green hydrogen at the Mohammed bin Rashid Al Maktoum Solar Park, the first of its kind in the Middle East and North Africa region to produce green hydrogen using solar energy, store it and then convert it to electricity in addition to other uses in the sectors of air transport, land, marine and industry.
The project produces about 400 kilograms of green hydrogen per day, and a hydrogen gas tank can store up to 12 hours of hydrogen produced using solar energy.
Hydrogen is used to produce electricity with a capacity of about 300 kilowatts.
The plant is designed and built to be able to accommodate future applications and test platforms for various uses of hydrogen including power production and mobility.
The project supports the UAE ’ s goal of acquiring a 25% share of the low-carbon hydrogen market, which is expected to be worth more than $400 billion.
The project supports the country ’ s efforts to achieve global competitiveness in the green hydrogen market.
The project supports DEWA ’ s efforts to diversify energy sources and increase investment by supporting innovation, research and development in energy storage technologies, including green hydrogen, which some describe as “the fuel of the future ”, and will play an important role not only in the global energy mix, but also in mitigating the effects of global warming.
The project also supports the Dubai Green Mobility 2030 initiative, which aims to stimulate the use of sustainable transport.
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Egypt has enormous natural potential for solar energy production and aims to reach 42% of renewable energy by 2030, and the UAE is investing $163.5bn in clean energy projects by 2050 and aims to host the World Future Energy Summit in January.

Title:

Content: Egypt News
China is the world ’ s top solar power producer with 584.2 TWh
Mohamed Ismail - Cairo - Cairo - A:
The Information and Decision Support Center at the Council of Ministers issued a new analysis highlighting solar energy and its role in the transition towards sustainable energy, as well as the most important international markets in the field of photovoltaic energy, the most important elements of Egypt in the field of solar energy production, and the Egyptian efforts towards localizing the solar panel industry.
Solar energy in Egypt has seen remarkable growth in recent years driven by high demand for clean energy, the achievement of Egypt ’ s 2030 vision to shift towards renewable energy, and the Egyptian state ’ s support for green projects. It is about 7 times more renewable.
The analysis of the center at the beginning dealt with the manufacture of solar energy systems, as it explained that solar cells (photovoltaics) are the main component of solar energy panels, where solar energy is converted into electrical energy, through photovoltaic effect, so that the cell is made of semi-conductive materials, which acquires electrical properties when exposed to light, such as: electric current, resistance, voltage, and the solar cell must also be able to absorb light. And the production of electrons, and the default ages of solar cells of different types range from (10 to 30 years).
Solar cells are generally made of semiconductor materials, for example crystalline silicon, which is extracted from sand processing, and silicon production makes up nearly 90% of the solar cell industry.
According to a recent report by the International Energy Agency (IEA) in April on these markets in 2024, the global cumulative capacity of PV has grown to 1.6 terawatts in 2023, compared to 1.2 terawatts in 2022, with 446 gigawatts of PV systems being used in 2023, up from 407.3 gigawatts.
The analysis indicated that PV has played an important role in reducing CO2 emissions from electricity in 2023, with more than 75% of new renewable capacity installed in 2023, and about 60% of generation from new renewable capacity.
China accounted for the largest share of cumulative PV capacity with 43% of total PV capacity globally in 2023, followed by the Asia-Pacific region with 19%, Europe with 18%, and the Americas with 15%.
In terms of the largest countries in solar electricity generation in the world, China was the highest in solar energy production (584.2 terawatt-hours) in 2023, followed by the United States (238.1 terawatt-hours), India (113.4 terawatt-hours) and Japan (109.4 terawatt-hours).
The IEA ’ s latest report, released in June 2024, looks at global energy investments, with global energy investment expected to exceed US $3 trillion for the first time in 2024, of which US $2 trillion is dedicated to clean energy technologies and infrastructure.
Investment in clean energy has accelerated since 2020, and spending on renewable energy is now higher than total spending on oil, gas and coal.
Solar panel costs have fallen by 30% over the past two years, and the prices of metals essential for energy transitions, especially those needed for batteries, have fallen sharply.
The IEA report warns that energy investment flows continue to be disrupted, especially insufficient clean energy investments in emerging markets and developing countries outside China, although there are initial signs of recovery, with clean energy investments expected to approach US $320 billion in 2024, up more than 50% since 2020.
In 2024, the share of global clean energy investment in emerging market economies and developing countries outside China is expected to remain at around 15% of the total, which – both in terms of volume and share – falls far short of what is needed to ensure full access to modern energy and meet growing energy demand in a sustainable manner.
The energy sector ’ s investment in solar PV technology is also expected to exceed US $500 billion in 2024, surpassing all other sources of generation combined, and although growth may slow slightly in 2024 due to lower PV prices, solar remains central to the energy sector ’ s transformation.
The analysis pointed out that Egypt has enormous natural, geographical and economic potentials that make it an ideal destination to become a regional and global center for solar energy production.
The analysis reviewed the most important of these elements: first, the natural resources where Egypt has the potential of solar photovoltaic energy, and is expected to maximize the benefit of natural geography and the potential of local solar energy, in addition to the availability of silicon ore, which is used in the manufacture of solar panels. Fourth, solar energy exploits the promotion of the private sector: the state supports private sector companies in the field of new and renewable energy to enable them to enter strongly into the production of new and renewable energy, through its management and operation.
The competitiveness of Egypt in the field of human resources is its ability to provide skilled and trained workers in the field of manufacturing and production of solar energy, and Egypt is the main regional source of skilled labor in many sectors, including the new and renewable energy sector, especially in light of the adoption of national programs to prepare and train skilled workers.
Sixth, advanced and modern infrastructure: There are many elements in the field of infrastructure in Egypt, where Egypt has achieved unprecedented achievements in the field of infrastructure projects that have contributed to strengthening its regional and international role and making it one of the most important countries in the Middle East and Africa.
The analysis pointed out that within the framework of the Egyptian state ’ s interest in national projects, especially renewable energy projects, the state adopted an integrated and sustainable development strategy until 2035 to support the capacity of the electricity and renewable energy sector, and implement its pledge to reach 42% of renewable energy by 2030 instead of 2035, compared to 20% in 2022.
The analysis highlighted the most important major projects to localize the solar panel industry: the Silicon Production Complex in New Alamein City, comprising four phases, where the detailed feasibility study of the first phase was completed, which aims to produce metallic silicon with a production capacity of 45,000 tons per year, at an investment cost estimated at $172 million, based on ultra-pure Egyptian quartz ore instead of exporting it as a raw material.
The second phase of the project includes the production of intermediate silicon derivatives that enter the industries of insulating materials, construction and construction, rubber, medical uses, and others, while the third phase of the project aims to establish a factory for the production of polysilicon, which enters the manufacture of solar cells and electronics, with a production capacity of about 10 thousand tons annually.
The launch of the Egypt Solar Platform is one of the most important major projects and was launched during the current year, in order to automate and facilitate the installation of small solar plants, and through the platform to identify the follow-up of the installation of "solar power plants" for citizens, individuals and companies, and connect them to the national electricity network through various distribution companies.
The platform was established in cooperation between the New and Renewable Energy Authority, the Egyptian Electricity Holding Company, the Small and Medium Cell Systems Project of the Industrial Modernization Center, and the Electricity Utility and Consumer Protection Regulatory Authority.
ACWA Power ’ s Kom Ombo solar project is one of the most important projects, with a capacity of 200 MW of clean energy that contributes to the reduction of carbon dioxide by 280 thousand tons annually, and meets the needs of about 130 thousand housing units, in addition to the project contains the latest technology of solar panels, in addition to 952 electric reflectors on an area of 4.8 square kilometers.
The project aims to expand the production of clean energy produced, create jobs for young people, contribute to the diversification of electricity sources for citizens, and reduce 2 million tons of carbon emissions annually. The project includes 32 solar plants to generate electricity with a capacity of 1.47 thousand megawatts.
The Cabinet approved the offer of Amia Power, a subsidiary of the UAE ’ s Al Nowais Investment Group, to implement additional renewable energy projects, bringing the total capacity planned to be added from Amia Power ’ s projects before summer 2025 to 2,000 megawatts, including a battery storage system.
The analysis pointed out that Egypt has huge potential in the field of solar energy production thanks to these promising elements; to become a regional and global leader in solar energy production, as well as targeting the Egyptian state ’ s strategy to increase the contribution of renewable energy in the electricity mix, diversify the sources of electricity production, and exploit natural resources, especially new and renewable energy sources.
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The Middle East saw a 12.8% increase in renewables in 2022, and Arab countries plan to invest $1 trillion in renewables by 2040, with the region having 73 gigawatts of planned solar and wind projects, and Arab countries aiming to double renewable energy production by 2030.

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

Larsen & Toubro has secured a 3.5 GW solar project in the Middle East, which will be a valuable addition to the company's green portfolio, and the Arab Clean Energy Initiative aims for 80 GW capacity by 2030, and the Gulf of Suez Wind Power Project has 1100 MW capacity.

Title:

Content: L&T Secures Mega Renewable Energy Project in Middle East

Larsen & Toubro's renewable energy division has landed a significant project in the Middle East, entailing the construction of two Gigawatt Scale Solar PV plants. With these new orders, the company’s renewables portfolio is projected to reach a cumulative capacity of 22 GWp.

Devdiscourse News Desk | Updated: 08-07-2024 12:17 IST | Created: 08-07-2024 12:17 IST
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  • India

The Renewable energy arm of Larsen & Toubro (L&T) has clinched a major energy project in the Middle East, the company announced in an exchange filing on Monday. The project involves building two Gigawatt Scale Solar PV plants with a key developer in the region.

These solar plants will have a combined capacity of 3.5 GW (Gigawatt). The orders also encompass grid interconnections, including pooling substations and overhead transmission lines. Engineering and initial construction work for the project is slated to commence shortly.

Last month, the company announced securing a solar-cum-storage plant project in India. With the addition of these new mega orders from the Middle East, L&T's renewables portfolio is expected to reach 22 GWp (Gigawatt Peak) in cumulative capacity, comprising both solar and wind projects. 'The successive order wins stand as a testament to our engineering and project management capabilities,' noted T Madhava Das, Whole-time Director & Sr Executive VP (Utilities) - L&T.

Larsen & Toubro is a USD 27 billion Indian multinational enterprise engaged in EPC (Engineering, Procurement, and Construction) Projects, Hi-Tech Manufacturing, and Services. 'The Middle East is leading in sustainable energy infrastructure. These orders are valuable additions to our green portfolio as we envision the future with next-generation technologies,' said S N Subrahmanyan, Chairman & Managing Director - L&T.

Shares of the company stood at Rs 3602.45 on Monday at the time of the report filing. (ANI)

(Disclaimer: With inputs from agencies.)

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The UAE ranks second in wind and solar electricity production, while Egypt ranks first in total electricity production from solar and wind, and the Al Dhafra solar farm in Abu Dhabi has 2 GW power and reduces carbon emissions by 2.4 million tons per year.

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

The Egyptian government has set a target of producing 29,784 GWh of clean energy annually from new projects, which will help reduce the country's reliance on fossil fuels, and the Middle East region has high solar energy potential, with countries like Saudi Arabia, UAE, Morocco, and Egypt having high annual solar radiation.

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Content: Friday 29 December 2023
Chairman of the Board of Directors and Editors
Abdurrahim Ali
Editor-in-Chief
Dalia Abdul Rahim
Chairman of the Board of Directors and Editorial Board
Abdurrahim Ali
Editor-in-Chief
Dalia Abdul Rahim
NEWS
Hassad 2023 | « Electricity »: New renewable energy projects under construction with a total capacity of 1700 MW
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The Ministry of Electricity and Renewable Energy confirmed that the green hydrogen projects to be established will provide 44,000 direct and indirect jobs and 220,000 temporary jobs, in addition to eliminating 37 million tons of carbon dioxide emissions annually in Egypt.
Minister of Electricity and Renewable Energy Mohamed Shaker announced that there are 3,500 megawatts under construction and implementation to produce electricity from renewable energy, with investments of up to $4 billion and 400 million.
He added that this comes within the framework of Egypt's keenness to expand renewable energy projects to increase its reliance on electricity generation to provide the quantities of fuel used.
He stressed that the total capacity generated from renewable energy in the national electricity grid in 2025 is expected to reach 15,800 megawatts and reach 42,100 megawatts by 2028.
Total capacity generated from renewable energy will reach 68,500 MW by 2030.
He added that there is a reference plan that aims to rely on renewable energies by 50% by 2040 of the total capacity of the national electricity network with a total capacity of 142,000 megawatts.
Regarding the so-called “Green Plan ”, the minister explained that the state aims to rely on renewable energies by 57% by 2040 with a capacity of 159 thousand megawatts.
He pointed out that Egypt is keen to implement its plan to shift to green energy by amending the renewable energy strategy in Egypt to target reliance on renewable energies by 42% by 2030 instead of 2035.
He pointed out that renewable energy projects in Egypt have become a source of other investments such as green hydrogen, electric cars and water desalination.
For his part, Dr. Mohammed Musa Omran, CEO of the Electricity and Consumer Protection Utility Authority, said that the Authority is keen to overcome any obstacles facing investors in the sector, and speed the completion of licenses for investors and procedures within 15 days.
He added that there are also many legislations for new and renewable energy, and there is an exemption of up to 10 megabytes in the field of integration, and there is progress in net metering projects.
As for consumer complaints, he said that the door is always open to quickly end any problems, explaining that in the framework of developments, the investor can build a sales terminal for the consumer directly without the need to sell the network, which facilitates investment in this sector.
He stressed that the Authority is keen to open the competitive market for the private sector to produce renewable energy and sell it to the private sector and draft bilateral agreements between the private sector to create a favorable environment to attract private investment, which is one of the priorities of the Egyptian government.
On the other hand, the Ministry of Electricity confirmed that the memorandum of understanding signed between the New and Renewable Energy Authority and one of the leading Chinese companies in the field of renewable energy will be investments of up to $10 billion and include the establishment of solar power plants with capacities of up to 10 gigawatts. The participation of renewable energy in the national electricity grid to 42% by 2030, pointing out that Egypt has a huge potential in the field of renewable energy unlike any other in the world, and that the project will produce about 29,784 GWh of clean energy annually, which will contribute to reducing about 14 million tons of carbon dioxide emissions.
The ministry pointed out that the largest gathering of solar power plants in Egypt and the Middle East is Benban solar complex with a capacity of 1465 megawatts, noting that the memorandum of understanding signed aims to establish plants with a capacity of up to 10,000 megawatts that can be divided into two or three complexes to become the largest gathering of solar power plants in the future.

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 region aims to increase energy efficiency by 2030 and has 1,500 GW of renewable energy ready for deployment, and energy storage is key to tripling renewables by 2030 and increasing them nine-fold by 2050, with countries like the UAE and Saudi Arabia investing in advanced energy storage technologies.

Batteries are essential for grid regulation and reducing disruptions in renewable energy generation, and countries are working to integrate renewables into smart grids, with around 1,500 GW of renewable energy ready for deployment but cannot be integrated into networks.

The Middle East Solar Industry Association has released the Solar Outlook 2024 report, providing insights into the region's solar energy market and opportunities for growth, and Iraq targets 12 gigawatts of renewable energy by 2030, with its renewable energy expected to account for 33% of its electricity mix by 2030.

Title:

Content: BAGHDAD/PRNewswire/ -- In a strategic move toward harnessing the untapped potential of Iraq's solar landscape, Sungrow is taking the lead in shaping the nation's green energy sector.

Iraq's Minister of Oil, Ihsan Abdul Jabbar, stressed the importance for Arab countries to prioritize high-efficiency, low-cost energy production to foster a modern economy. The country has set a target to install 12 gigawatts of renewable energy, accounting for 33% of the country's electricity by 2030.
Spearheading this initiative, Lei Wu, the Acting Chief Operating Officer of Sungrow MENA region, emphasized the significance of bringing cutting-edge technology to tackle Iraq's longstanding electricity shortage, ultimately enhancing the availability of reliable and high-quality electricity for its residents.

Urgent energy transition needs calls for international cooperation
Iraq faces a substantial electricity shortage, with nearly one-third of its supply coming from imports, including natural gas, according to Reuters.
With 8 to 10 hours of daily sunshine and an annual average of 3,000 to 3,650 hours, the region is poised for large-scale PV deployment.
Wu outlines three key avenues for PV expansion in Iraq: utility-scale power plants, commercial and industrial (C&I) installations, and residential solutions.

Iraq's $680 million fund for clean energy development supports these efforts, demonstrating the government's ambition to build a green economy and foster international cooperation aiming for this goal.

Fragile grid demands innovative solutions
As the demand for solar power grows in Iraq, Iraq emerges as a burgeoning solar market. However, the underdeveloped power grid in Iraq presents challenges that demand higher standards for both products and technologies. Solar projects operating under Iraq's weak grid, whether serving as backup power sources during outages or directly connecting to the grid, have the potential to affect the overall stability of the grid, worsening an already precarious situation.

Lei Wu emphasizes, "Tailoring our products and solutions to diverse requirements is crucial. For example, when a project requires connection to a weak grid, our focus is on providing robust grid support. This involves a seamless integration of PV and energy storage to enhance the stability and optimize consumption ratios. Alternatively, in off-grid scenarios or as a backup power source, our goal is to ensure seamless collaboration between PV and energy storage for maximum efficiency."

A weak grid signifies a low Short Circuit Ratio (SCR), making it vulnerable to grid failure or disconnection issues. Currently, the minimum SCR required by the grid is 1.5, and the lower the SCR value inverters are compatible with, the more robust the grid supports after connection.

Notably, Sungrow, leveraging its technological prowess, has developed a "1+X" modular inverter and SG350HX string inverter, passing SCR tests at 1.018 and 1.1, respectively. In terms of energy storage, Sungrow employs Stem Cell Grid technology, achieving 0ms grid connection and disconnection switching. This ongoing exploration of boundaries serves to comprehensively enhance grid support capabilities.

"We have extensive experience in the MENA region. Previously, we participated in the construction of an 800 MW solar project for the Qatar World Cup. At that time, the integration of large-scale green energy into the Qatar power grid served as a test, and with the backing of advanced Chinese technology, the project proceeded smoothly. This success has bolstered our confidence in venturing into the Iraqi market", said Wu.

Provide localized services
"Venturing into international markets" is intrinsic to Chinese PV enterprises, yet breaking new ground is far from straightforward. Operating abroad not only scrutinizes technology and products, but also the effectiveness of local sales networks, post-sales teams, and service response capabilities. For seasoned players like Sungrow, however, this challenge is effortlessly managed.

Since its establishment in 1997, Sungrow has been dedicated to renewable energy power generation. Whether considering product quality, scale, or market coverage, the company stands as a global industry leader. Up to now, in addition to its traditional strength in solar inverters, Sungrow has diversified its business portfolio to include energy storage systems, renewable energy hydrogen production systems, smart operation and maintenance, EV-charging, investment and development in renewable energy power plants, and new energy automotive driving systems, etc. Wu told the reporter, "Every enterprise may face challenges of not fitting the local conditions while exploring new markets. To overcome this, concerted efforts are necessary. Firstly, we must understand the local business environment and social culture, do thorough groundwork in advance, and avoid potential risk factors."

"Secondly, we need a strong sales and service network for timely customer response. Currently, our business reaches 150+ countries and regions, committed to addressing overseas customer needs within 48 hours.

Sungrow follows a global development strategy, with branches and sales networks in the MENA region for localized services. This enhances cooperation with local customers, aiding in expanding the Iraqi market," he added.

Wu further emphasized that, "Exploring new markets is about establishing roots. The deeper the roots, the more abundant the growth."

In the first nine months of this year, Sungrow marked a revenue of RMB 46.415 billion, surpassing the annual revenue of RMB 40.257 billion in 2022, setting a new record. As per consulting firm S&P Global Commodity Insights, Sungrow has maintained its global lead by shipping 77 GW of PV inverters in 2022. Additionally, its delivery of energy storage systems exceeded 7.7 GWh in the same year.

SOURCE Sungrow Power Supply Co., Ltd.

CONTACT: Bertha Wang, wangxiaoyu@sungrowpower.com

Egypt aims to be a regional energy hub by 2030, with Arab countries increasing their renewable energy capacity by 57%, and the UAE, Saudi Arabia, and other Middle Eastern countries are developing renewable energy projects, including solar and wind power, to reduce their dependence on oil and gas.

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.

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
Economist: Egypt is linked to 2030 strategy and will be an energy hub
Dr. Walid Jaballah, an economist, said that the Arab countries ’ increase in renewable energy capacity by 57% is a medium increase and is concentrated in Egypt, Saudi Arabia, Oman and Morocco.
During a telephone interview with Extra News, Jaballah said that these countries are taking the approach of economic diversification in the Gulf, Egypt and Morocco, while other Arab countries are still not concerned with this file and are suffering from problems related to exporting the necessary financing in order to move to the path of renewable energy.
He added that Egypt is linked to its 2030 strategy and to be a regional energy hub with real projects on the ground, where he issued a solar power plant in Biban and wind power plants on the Red Sea coast.
The expert pointed out that Egypt, Saudi Arabia, the UAE, Oman and Morocco account for more than 72% of the total renewable energy growth in the MENA region until 2027.

These efforts are expected to have a positive impact on both the local economy and climate goals, with the potential to reduce carbon emissions and create new job opportunities, and the integration of renewables into smart grids is crucial for achieving climate goals, with countries working to develop advanced energy storage technologies to support this transition.

Green hydrogen and advanced energy storage are promising technologies that can support the transition to a low-carbon economy, and the UAE's Masdar City is the most sustainable urban community in the world, with a focus on renewable energy and energy efficiency.

Title:

Content: New technologies to achieve sustainability goals and address climate change
Science and Technology
Huawei
Copy Link https: / / en.rt.com / u0x4
Existing renewable energy initiatives in the Middle East are strengthening their role in supporting international efforts to address climate change.
In particular, the region is one of the largest contributors to the oil and gas sector globally, and at the same time is the cradle of a number of major and ambitious initiatives and projects aimed at enhancing the reliance on clean energy.
In the UAE, the Mohammed bin Rashid Al Maktoum Solar Park is the world ’ s largest IPP solar site, and the Al Dhafra Solar PV Plant is being built as the world ’ s largest solar power plant with a capacity of 2 GW.
Masdar City is the most sustainable urban community in the world.
ADFD is committed to funding innovative projects to accelerate access to sustainable energy as part of a joint initiative with the International Renewable Energy Agency (IRENA).
In Saudi Arabia, Neom recently launched The Line, the world ’ s first car-free, carbon-free city with 100% renewable energy.
King Abdullah University of Science and Technology (KAUST) leads green energy projects designed to manage the recycling of grey water for reuse for plant irrigation and other purposes, and also has large area photovoltaic panels that produce clean electricity.
In Egypt, hydropower is the second source of energy after thermal, wind and solar, and the country has developed a number of future projects that seek to exploit solar energy and replace non-renewable energy.
Other green projects in Egypt include the cities of Jebel Galala and El Alamein.
The Bahrain World Trade Centre is one of the world ’ s leading examples of sustainable architecture, taking the lead in being the first skyscraper in the world to introduce wind turbines to provide total energy consumption.
Morocco, famous for its huge and world-leading solar arrays, has made a big name for itself as a leader in the fight against climate change, renewable energy makes up nearly two-fifths of the country ’ s electricity, and the country implements some of the world ’ s largest clean energy projects.
Since 2012, Jordan has turned to solar power to generate electricity and government policies have pushed citizens and investors to turn to renewable energy to reduce carbon dioxide emissions, by offering financial facilities to investors and reducing the electricity bill.
Sustainability initiatives in the Arab countries contribute effectively to building a diversified digital economy that achieves the national visions of these countries, and the green economy initiative launched by the UAE, and the Saudi Green Initiative is a good example of this.
Today, the ICT sector is increasingly playing a role in achieving sustainability through new technologies such as 5G, cloud computing and artificial intelligence that will play a key role in implementing clean energy initiatives as they enhance productivity, improve efficiency, reduce costs and waste, evaluate business systems, analyze waste, track problems and develop solutions.
The International Telecommunication Union (ITU) says ICT will contribute to achieving the UN ’ s Sustainable Development Goals and improving the quality of life.
According to the United Nations, ICT can be relied upon in two ways: reliance on clean information and communication technology, and clean energy generation based on information and communication technology.
In the first scenario, ICT solutions that contribute to environmental safety and carbon reduction are designed.
In the second scenario, ICT solutions such as those in grids, buildings, smart logistics and industrial processes help promote sustainability and energy efficiency.
The sustainability efforts of tech companies have been recognized globally, Huawei is an example of companies that have adjusted their business in line with sustainability goals, and recently received an award from the International Mobile Phone Association for their contributions to achieving the United Nations Sustainable Development Goals through mobile devices.
The company aims to rely on innovative technologies to drive clean development across various sectors and industries, and in 2021 it used more than 300 million kWh of electricity produced from renewable sources, an increase of 42.3% compared to 2020.
Huawei ’ s digital power solutions have generated 482.9 billion kilowatt-hours of clean energy and reduced electricity consumption by 14.2 billion kilowatt-hours, equivalent to 230 million tons of carbon emissions.
In parallel with efforts to promote a sustainable approach to technology, the ICT industry must not lose sight of the issue of enhanced security.
Technology providers should focus on protecting user privacy when working to provide modern, seamless technology and communications.
Certainly, we will not be able to grow the business and ensure its sustainability if we do not provide safe and reliable technologies to protect cybersecurity, which is a shared responsibility of all stakeholders involved in sustainability.
The current digital divide could isolate millions of people around the world from contributing to the development of a clean economy.
Tech companies can contribute to making technology accessible to all thanks to their technical capabilities and resources.
Through initiatives such as TECH4ALL, Huawei has relied on digital technologies to implement programs aimed at enhancing the leadership capabilities of more than 110,000 people in 2021.
The digital divide in global talent could undermine sustainability efforts, so greater emphasis should be placed on redressing it and priority should be given to strengthening collaboration between tech companies, academia and government institutions in order to bridge the digital skills gap.
By investing in programs to prepare local technical cadres, hone skills and enhance practical experience, more bridges of cooperation between the public and private sectors can be built to prepare the future generation of sustainability leaders with the help of technology.
Huawei has established 163 ICT academies in the Middle East.
More than 3,500 students participated in the Seeds for the Global Future program, while more than 37,000 students received Huawei certifications.
The company has also provided training to more than 120,000 ICT talents in the region who are expected to contribute to the advancement of sustainability in the countries of the region by making the most of technology.
In light of the increasing challenges of reducing carbon emissions facing various countries around the world, we all have a responsibility to strengthen cooperation and work together to build a sustainable and prosperous future for future generations.
By: Ammar Taba, Huawei Vice President for Public Relations and Media in the Middle East
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Huawei has established 163 ICT academies in the Middle East to promote sustainability and has used 300 million kWh of electricity from renewable sources in 2021, and the Bahrain World Trade Centre is the first skyscraper with wind turbines for total energy consumption, demonstrating the potential for renewable energy in urban areas.

The Middle East countries are facing challenges in their energy transition, including debt problems, imperfect grid planning, and a lack of energy storage infrastructure, but with the help of foreign technology and talent, these countries can overcome these challenges and achieve their renewable energy targets.

The region's energy transition is expected to have a significant impact on the global energy market, with the potential to reduce carbon emissions and create new economic opportunities, and the UAE has invested $54.5 billion in renewable energy, highlighting the region's growing commitment to the energy transition.

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.

The Middle East faces challenges in ESG reporting and regulations, which can impact the effectiveness of energy transition strategies, and Saudi Arabia is transitioning to a circular carbon economy, a significant step towards reducing the country's reliance on oil.

Bahrain has refinanced $2.2 billion in sustainability-linked corporate finance, demonstrating the growing importance of sustainable practices in the region, and Oman is exploring green hydrogen as a clean energy source, which could play a crucial role in the region's energy transition.

The UAE aims to achieve net zero emissions by 2050, with the "Net Zero by 2050 Initiative" having a $163 billion investment budget, and Saudi Arabia has set a goal of 50% renewable energy by 2030, which will require significant investment in solar and wind energy projects.

Title:

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

Qatar is the world's highest emitting country and largest producer of liquefied gas, making it a critical player in the region's energy transition, and the UAE's climate crisis costs $6 billion annually in health costs, emphasizing the need for urgent action to reduce emissions.

The salinity of the Gulf states' waters has increased by 20% due to desalination plants, which can have significant environmental impacts, and warming rates in the Middle East are twice as high as the global average, making the region particularly vulnerable to climate change.

Mecca may not be livable by 2100 due to climate change, highlighting the urgent need for climate action in the region, and the Gulf states rely heavily on oil and gas exports, accounting for 70% of goods exported, making the energy transition a critical economic issue.

Saudi Arabia relies on 75% of its oil resources for its budget, emphasizing the need for diversification and investment in renewable energy, and stakeholder engagement is critical for successful energy projects, with local communities and stakeholders must be engaged before construction.

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Content:
Electrical Power & Protection

Stakeholder engagement mitigates renewable energy project delays

July 2022 Electrical Power & Protection

Community and stakeholder engagement is a critical factor that can make or break renewable energy projects, yet it is almost always overlooked or under-prioritised in project planning and execution. When energy producers do not follow best practices in community engagement or public consultation, the results are rarely favourable, and many projects are stopped dead in the water by local opposition.

Janine Espin.

To avoid such a situation in South Africa, and to minimise the risk of further delay in kicking off much-needed renewable energy projects, it will be critical for Independent Power Producers (IPPs) to engage with local communities before, during and after the construction and energy development process. Fair and open consultation with communities will be key to ensuring successful and fruitful energy projects that carve the way for South Africa to transition to cleaner, more responsible energy generation.

Context: South Africa’s escalating energy crisis

In February 2021, it was estimated by our national power utility, Eskom, that we would experience an electricity supply shortfall of between 4000 and 6000 megawatts over the next five years as old coal-fired power stations reach their end of life. As part of the plan to address this shortfall, President Cyril Ramaphosa issued a request for proposals for 2600 megawatts from wind and solar energy as part of a bid window, while easing licensing requirements for new embedded-generation projects to unlock up to 5000 megawatts of additional capacity and help to ease the impact of load shedding.

In amending Schedule 2 of the Electricity Regulation Act, self-generation is now permissible up to 100 MW, which means that we will see an increase in renewable energy projects, particularly PV solar plants (with battery storage options) in the future. By allowing IPPs to increase the amount of power they can generate without a licence, it will be possible to reduce generation demands on our national grid and to alleviate residential, commercial and industrial electricity supply constraints.

The CEO of Eskom announced the company’s intentions to build its own PV solar plants to sell energy to industry in order to reduce Eskom’s own carbon emissions, and for organisations to offset their carbon emissions without needing to invest in their own large and costly renewable energy plants.

Opportunity for sustainable growth

Private companies and industries now have the opportunity to develop their own generation capacity and to participate more freely in the limited transmission, distribution and sale of electricity. In resolving the country’s energy crisis, the government has shown willingness to embrace deregulation, with an increased threshold that allows new IPPs to enter the energy market, which will ultimately lower power generation costs in the medium term.

With the renewables industry poised for major growth, we will also see more large-scale industries building their own renewable energy plants, and where possible they will circulate their energy generation to other industries.

Stakeholder engagement is complicated

While the Renewable Energy Independent Power Producers Programme (REIPPP) does not make stakeholder engagement mandatory during the bidding phase, it is proposed that community baseline studies occur at this stage. This can help give companies a high-level overview of the communities and possible risks that may occur.

Discussions with local communities should start immediately after financial closing, and preceding the construction period, to ensure that communities are aware of opportunities which may exist for them to participate in the building of such renewable energy plants. Such a stakeholder engagement requirement is separate from the public participation process compliance as required during the Environmental Impact Assessment (EIA) process, but there is often overlap with the economic development compliance requirements that relate to the number of jobs to be created, community development or social impact, for example. All of which makes stakeholder engagement tricky and extremely sensitive during the bidding processes.

Who is affected?

Stakeholders in the upcoming renewable energy projects include local government, traditional leaders, community forums, local business forums and communities surrounding the planned operational sites, which will become the local labour-sending areas. Navigating and balancing these stakeholders’ interests can be an extremely delicate exercise. This is where a partner that specialises in economic development services will prove invaluable.

Consider the bigger picture

Despite tricky conditions, IPPs cannot afford to overlook stakeholder engagement. IPPs need to realise that engagement isn’t a once-off, project-based transaction, and it is necessary to carefully consider stakeholder engagement in its wider context. This context includes our transition to a low-carbon economy, and here, it is important to remember that the energy system isn’t just a technical collection of wires and power stations, but an entire, organic, socio-technical system with very complex interplays between society, infrastructure and the economy.

The challenge lies in seeing that a low-carbon transition is not about replacing one dirty fuel with another, cleaner type, but about adjusting our entire way of life around that fuel. This process is never easy, and the social ramifications are far-reaching. To be successful, such complex social implications will require much greater levels of community and stakeholder engagement. Here, IPPs must partner with an experienced and credible provider of economic development services if they are to avoid any further delays and risk of protests when addressing South Africa’s worsening energy crisis.

For more information contact Janine Espin, Economic Development Solutions, +27 11 447 4683, www.eds.holdings

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Community engagement is essential for mitigating the social ramifications of the low-carbon transition and ensuring that the energy transition benefits local communities, and economic development services can facilitate stakeholder engagement, and partnering with experienced providers can avoid project delays and protests.

The World Bank has developed environmental and social standards to protect communities, which can be applied to energy transition projects in the Middle East, and training on environmental management and social affairs is provided, which can help build capacity and ensure that energy transition projects are implemented sustainably.

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Content: It creates 135,000 jobs in the global green transition.
World Bank: 7% growth in green skills for UAE youth
The World Bank ’ s Director for the Gulf Cooperation Council (GCC), Safaa Al-Tayeb Al-Koogli, confirmed that the growth of green skills for young people in the UAE is 7% between 2022 and 2023.
In a statement to the UAE News Agency (WAM) on the sidelines of the COP28, Al-Kuqli said that green skills are a critical aspect of the global agenda for green transformation, noting that the World Bank announced at the current Conference of the Parties that 45% of its annual funding will go to climate, which in turn includes aspects about green skills.
“The World Bank is the world ’ s largest financier of education and skills, thus ensuring that young people have the skills for the future, and also the skills for a better environment and climate, is a critical part of our work. ”
“We will create about 135,000 green transition jobs globally, so ensuring that young people have sufficient skills and a sustainable supply of skills to fill those jobs will be vital. ”
It took four years to develop these standards in consultation with hundreds of people around the world to ensure that environmental and social standards are in place to protect communities and help countries maintain their growth in an environmentally successful manner.
“We do a lot of training on environmental management and social affairs, and we work with governments and communities to ensure that many of these practices are implemented and adopted. ”
She explained that there are many challenges in the Middle East and North Africa, especially in terms of increasing labor force participation rates, especially of women, noting that these challenges remain, but there are opportunities currently with the presence of green jobs and the green economy, which will contribute to the creation of more inclusive jobs.
In six years, Saudi Arabia has more than doubled female labor participation rates, most of them in the private sector.
“I think it ’ s important to have enough information for people to know where jobs are, so the challenge is to create information management systems in countries so that young people can access information about where jobs are, and it ’ s also important to create partnerships with universities and institutions that actually deliver skills. ”
He stressed that it was necessary to hold companies accountable, not only to provide green jobs, but also to rehabilitate their employees to create training opportunities, so that these skills existed and actually grew as the economy grew in the green transition.
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The UN report notes Arab region progress in renewable energy generation, with 91% electricity access and 42 million people lacking access, and five Arab countries have pledged to achieve net zero emissions, with the UAE and Oman aiming for net zero by 2050 and Bahrain, Kuwait, and Saudi Arabia aiming for net zero by 2060.

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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
UN report: Arab region has made progress in renewable energy generation
The United Nations Economic and Social Committee said that the Arab region has recently made progress in achieving the goals of the seventh goal of sustainable development, but it must accelerate the pace of action, as the crisis in Ukraine has caused multiple crises, including energy crises in many regions, affecting the most vulnerable groups.
In a report obtained by the Constitution, ESCWA said that the continued disruption of the supply chain, economic contraction and instability in many Arab countries are slowing the progress of the Sustainable Development Goals (SDGs), and urgent efforts are needed to achieve the targets of SDG 7 by 2030.
In terms of policy, five Arab countries have pledged to achieve net zero emissions for the economy as a whole; the United Arab Emirates and Oman aim to achieve this goal by 2050; Bahrain, Kuwait and Saudi Arabia by 2060; and energy is at the heart of Arab sustainable development.
The United Nations Economic and Social Commission for Western Asia (ESCWA) noted that the Arab region has made significant progress in recent years in the field of renewable energy generation, and several world-leading projects are scheduled to be launched in 2023.
Access to electricity in the Arab region reached almost 91% in 2021, depriving some 42 million people of access to electricity, and facing only 83% of the rural population compared to 98% in urban areas.
In contrast, 52 million people in Arab countries did not have access to clean cooking, with significant disparities between subregions.

The Middle East and North Africa Climate Week 2023 discussed renewable energy transition, with a focus on carbon emissions mitigation and climate change programs, and

The Middle East and North Africa Climate Week 2023 discussed renewable energy transition, with a focus on carbon emissions mitigation and climate change programs, and

The Middle East and North Africa Climate Week 2023 discussed renewable energy transition, with a focus on carbon emissions mitigation and climate change programs, and