The Middle East region has high solar energy potential, with several countries investing heavily in solar energy as part of their energy transition strategies.

Total investment in Middle East solar energy is nearly $100 billion, indicating a significant shift towards renewable energy.

Saudi Arabia and the UAE have high annual solar radiation, making them ideal locations for solar energy projects.

The UAE is investing $163.5 billion in clean energy projects, including the construction of the world's largest solar plant in Al Dhafra.

Mohammed bin Rashid Solar Park in Dubai has a capacity of 5 GW, making it one of the largest solar parks in the region.

Saudi Arabia aims to be carbon neutral by 2060 and is investing heavily in solar energy to achieve this goal.

Egypt targets 42% renewable electricity by 2035, with a focus on solar and wind energy.

The Middle East region has numerous renewable energy projects, including the Benban Solar Park in Egypt, which has a capacity of 1,800 megawatts.

The Benban Solar Park is valued at $4 billion and includes 41 solar power plants, spanning 37 square kilometers.

The Gulf of Suez Wind Power Project has a capacity of 1100 MW and reduces 2.4 million tons of CO2 emissions.

The Arab Clean Energy Initiative targets 80 GW of renewable energy capacity by 2030, highlighting the region's commitment to clean energy.

The UAE and Saudi Arabia generate the cheapest electricity from solar power, making solar energy a viable option for the region.

Al Dhafra in Abu Dhabi has a 2 GW single-site solar farm, which is one of the largest in the region.

The UAE and Jordan have signed a memorandum for 2 GW wind energy projects, demonstrating the growing cooperation between countries in the region on renewable energy.

Masdar owns 31% of Jordan Wind Company with a $90 million investment, highlighting the importance of international investment in the region's renewable energy sector.

The low-carbon energy industry in the Middle East will be worth $257 billion by 2030, with PV accounting for 50% of the project value in the Middle East energy industry.

The Middle East PV market is expected to be nearly a trillion dollars by 2030, driven by growing demand for solar energy.

China's PV companies are heading to the Middle East, with the region importing 11.4 GW of PV modules from China in 2022.

Saudi Arabia's PV imports from China increased tenfold in 2022, highlighting the growing partnership between China and the Middle East on solar energy.

The UAE grew by 340% year-on-year in PV imports from China in 2022, demonstrating the country's rapid growth in the solar sector.

The UAE aims to achieve net zero emissions by 2050 and is investing heavily in solar energy to achieve this goal.

The UAE will host Cop28 next year, which will provide a platform for the region to showcase its progress on renewable energy and climate goals.

Abu Dhabi Sustainability Week promotes sustainable development and provides a platform for companies to showcase their renewable energy projects.

The Dubai hosts Middle East and North Africa Solar Conference, which explores the benefits of perovskite solar cells and showcases the region's latest solar projects.

The Mohammed bin Rashid Al Maktoum Solar Park is showcased at the conference, highlighting the UAE's commitment to solar energy.

The Turkish company GETAS Group has invested $60 million in a 72 MW solar power plant in Bahrain, demonstrating the growing interest of international companies in the region's solar sector.

The project has a total cost of $60 million and will be completed within 18 months, with solar panels imported from a Taiwanese partner company.

The investment is located in Bahrain, Middle East region, and will help the country to increase its solar capacity.

The company JinkoSolar has over 50% market share in Middle East solar energy, and over 70% market share in Saudi Arabia solar energy, demonstrating its dominance in the region's solar sector.

The company Sunlight Power has three energy storage sites in Saudi Arabia, highlighting the importance of energy storage in the region's solar landscape.

The Vision Group will manufacture wind turbines locally in Saudi Arabia, which will help to increase the country's wind energy capacity.

The Saudi wind power aims for 75% localized production by 2030, demonstrating the country's commitment to becoming a major player in the global wind industry.

The IFC approved $635 million investment for solar projects in Egypt, which will help to increase the country's solar capacity.

The investment will be used to build 11 solar power plants with a combined capacity of 500 megawatts, making it one of the largest private investments in the country's solar sector.

The project is expected to attract foreign investments and will help to achieve the country's renewable energy targets.

The total cost of the project is $730 million, and it will be located in Benban, near Aswan, Egypt.

The project is part of the country's solar FIT program, which aims to increase the share of solar energy in the country's energy mix.

The program is expected to attract $2 billion in foreign direct investments, which will help to boost the country's economy.

The Middle East region has high solar energy potential, with several countries investing heavily in solar energy as part of their energy transition strategies.

Title:

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

Total investment in Middle East solar energy is nearly $100 billion, indicating a significant shift towards renewable energy.

Title:

Content: Land solar energy investment set off the "Middle East fever" total amount of nearly 100 billion
China's new energy investment set off the "Middle East fever", solar industry giants Jingke Energy, TCL Central almost at the same time announced cooperation with Saudi Arabia (Saudi Arabia) sovereign fund solar projects, a total investment of about 3 billion US dollars (about NT $97.5 billion).
In addition, inverter giant Sunlight Power announced the successful signing of the world's largest energy storage project with Saudi company ALGIHAZ, with a capacity of up to 7.8GWh.
Analysts pointed out that the above case means that in addition to the continued investment of Middle East funds in the mainland, in the solar industry is subject to overcapacity criticism, mainland funds choose to go to the Middle East to develop the solar industry.
Founded in 1971, PIF is one of the largest and most influential sovereign renewable wealth funds in the world. Its wholly-owned subsidiary, RELC, is one of the largest and most influential renewable wealth funds in the world. and a leader in green energy technology manufacturing.
Founded in 2021 by two major conglomerates, Abunayyan and Al Muhaidib, VI aims to build a new energy industry chain manufacturing capacity in Saudi Arabia to meet the huge demand for new energy in the Middle East and the world, and is an investor and developer of green energy industrial projects to support the localization of supply chains.
Among them, JinkoSolar ’ s joint venture company plans to set up a joint venture company in Saudi Arabia to build 10GW of high-efficiency batteries and components, with a total investment of 7.157 billion yuan.
JinkoSolar has a market share of more than 50% in the Middle East in 2023, including more than 70% in Saudi Arabia.
The joint venture company of TCL Central has an annual output of 20 GW of solar wafer projects in Saudi Arabia, with a total investment of about RMB15.1 billion.
It is also TCL ’ s first overseas solar wafer factory in Central.
After the project is launched, it will become the first solar wafer project in Saudi Arabia and the largest wafer factory in the world.
Vision Group ’ s joint venture will manufacture wind turbines and critical components locally. Helping Saudi wind power value chain achieve 75% localized production by 2030.
And Vision is the global wind power leader, overseas wind orders for two consecutive years accounted for 70% of the orders of mainland China's wind power enterprises.
At the same time, Sunlight Power also announced three sites in the Middle East energy storage project, in the Najran, Madaya and Khamis Mushait regions of Saudi Arabia, with deliveries starting in 2024 and full capacity grid operation in 2025.
However, Sun Power did not disclose the contract amount in the announcement.
TCL Middle East Wealth
Extended reading
Singapore is expanding its production capacity, attracting semiconductor manufacturers to visit
Upgrading the tech war?
U.S. Pressures Allies to Tighten Restrictions on Land Chip Names Tokyo Electronics and ASML
High-end no low-end taiwo: chip self-sufficiency rate is only 10%
More profitable! The energy storage industry can 't be underestimated, driving another gold rush on Wall Street.
Related News
Land solar energy investment set off the "Middle East fever" total amount of nearly 100 billion
China 's new energy investment set off the "Middle East fever", solar industry giants Jingke Energy, TCL Central almost at the same time announced cooperation with Saudi Arabia (Saudi) Sovereign Fund solar projects...
Fujian petrochemical base Gulei Phase II approved a total investment of 71.1 billion yuan
The second phase of Fujian Gulei Refining and Chemical Integration Project (Gulei Phase II Project), with a total investment of 71.1 billion yuan, was approved by the Fujian Provincial Development and Reform Commission on the 16th.
This sign...
Import and export value of Beijing, Tianjin increased by 4.6% compared to last year
According to Beijing Customs News, in the first half of this year, the import and export of the Beijing-Tianjin-Hebei region reached 2.54 trillion yuan (RMB, the same below), a record high in the same period, and an increase of 4.6% over the same period last year (the same below).
China 's coal power push for low-carbon transformation
China 's National Development and Reform Commission and the National Energy Administration announced the Action Plan for Coal and Power Low-Carbon Transformation and Construction (2024-2027) on the 16th, and it is clear that by 2025 and 202...
Huawei new machine shipments to challenge Apple
Huawei internal sources revealed that the Huawei Pura 70 full series of new aircraft shipments compared with the P 60 series a...
AI godmother Li Feifei builds a unicorn for four months to create a new company
In just four months, Li Feifei, a well-known Chinese-American scientist known as the "godmother of AI," has quietly established a billion-dollar startup in the United States, joining the entire technology industry.
Product recommendation
udn Forum

Saudi Arabia and the UAE have high annual solar radiation, making them ideal locations for solar energy projects.

The UAE is investing $163.5 billion in clean energy projects, including the construction of the world's largest solar plant in Al Dhafra.

Title:

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

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

Beta V.1.0 - Powered by automated translation

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Updated: October 19, 2022, 10:41 AM
EDITOR'S PICKS
NEWSLETTERS
MORE FROM THE NATIONAL

Mohammed bin Rashid Solar Park in Dubai has a capacity of 5 GW, making it one of the largest solar parks in the region.

Title:

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

Saudi Arabia aims to be carbon neutral by 2060 and is investing heavily in solar energy to achieve this goal.

Egypt targets 42% renewable electricity by 2035, with a focus on solar and wind energy.

The Middle East region has numerous renewable energy projects, including the Benban Solar Park in Egypt, which has a capacity of 1,800 megawatts.

Title:

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

The Benban Solar Park is valued at $4 billion and includes 41 solar power plants, spanning 37 square kilometers.

The Gulf of Suez Wind Power Project has a capacity of 1100 MW and reduces 2.4 million tons of CO2 emissions.

The Arab Clean Energy Initiative targets 80 GW of renewable energy capacity by 2030, highlighting the region's commitment to clean energy.

The UAE and Saudi Arabia generate the cheapest electricity from solar power, making solar energy a viable option for the region.

Al Dhafra in Abu Dhabi has a 2 GW single-site solar farm, which is one of the largest in the region.

The UAE and Jordan have signed a memorandum for 2 GW wind energy projects, demonstrating the growing cooperation between countries in the region on renewable energy.

Title:

Content: Wednesday, 15 November 2023 08: 46 GMT
Growing UAE investments in energy fields in the Kingdom
(MENAFN- Alghad Newspaper)
Jordanian-UAE relations have witnessed a great development in various fields, especially economic and investment in the fields of energy during recent years, thanks to the leadership of the two brotherly countries.
These relations are framed by several agreements, memorandums of understanding, programs and protocols that will contribute to opening wider horizons for cooperation between the two countries, which have had the effect of raising the volume of UAE investment in the Kingdom to reach about 16 billion dinars, according to the Ministry of Investment.
The latest positive developments in bilateral relations between the two countries came during the recent visit of His Majesty King Abdullah II to the UAE and his meeting with His Highness Sheikh Mohammed bin Zayed Al Nahyan, where the two leaders affirmed their pride in the level of historical and solid relations between Jordan and the UAE, and their keenness to strengthen economic partnership and investment cooperation in various fields.
According to the Ministry of Energy and Mineral Resources, UAE investments in Jordanian land in the field of energy have grown over recent years, with government projects and commercial projects (private sector).
The commercial projects (private sector) focused on the project of Jordan Wind Company in Tafileh, where the implementation, connection and commercial operation of the project was completed in September 2015, according to the direct supply system with a generating capacity of 117 MW.
Masdar owns 31% of the shares of Jordan Wind Company with an investment value of $90 million out of a total investment of $290 million in the project.
The Abu Dhabi Future Energy Company ’ s (Masdar / Baynouna) solar project was commercially completed in December 2020 with an investment of $240 million at 100% and a generating capacity of 200 MW.
Masdar is a UAE government company established in 2006 and headquartered in the UAE capital Abu Dhabi, where it seeks to invest in clean and renewable energy and sustainable development.
The government projects are the Sheikh Zayed Solar Park in Al Quwaira, Aqaba, one of the most important development and investment projects owned by the Jordanian government, with a generating capacity of 92 MW and an annual output of 211 GWh, implemented through a grant from the Abu Dhabi Fund for Development with a total investment of $150 million.
The project has been in commercial operation since 18 / 7 / 2018, and its importance is to enhance Jordan ’ s ability to use renewable energy, contribute to the needs of more than 50 thousand homes with electricity, reduce dependence on imported energy, reduce the costs of importing oil derivatives, and provide job opportunities in the construction, operation and maintenance phases of the project.
The solar complex works on a land area of 3000 dunums, where the number of solar panels comprising the project reached 328,320 solar panels.
The other project is Oman ’ s strategic facilities in the Maduna area, where the project was implemented with a $210 million grant from the Abu Dhabi Fund for Development, which aims to secure the storage capacities necessary to maintain and enhance the Kingdom ’ s strategic oil derivatives stockpile, with a total capacity of 312,000 tons.
In November 2022, the Ministry of Energy signed a memorandum of understanding with Abu Dhabi Future Energy Company (Masdar) to explore the possibility of investing and developing wind energy projects with a capacity of (2) GW, which would be economically feasible (more detail).
The memorandum of understanding, signed by the Jordanian and Emirati sides and witnessed by His Majesty the King and the UAE President, on a grant from the UAE to enable the Jordanian government to implement a package of development priority programs and projects in the field of energy and tourism, in addition to the sectors of education and digital transformation / administrative modernization and public budget support worth $400 million, including the construction of a pipeline network. Gas for three development and industrial regions and cities worth $70 million.
According to the ministry, the project aims to reduce production costs and increase the competitiveness of Jordanian industries by supplying Al-Muwaqar Industrial City, Al-Rawda Industrial City in Ma ’ an Governorate and the development zone in Mafraq with Egyptian gas, to reduce the cost of energy on national industries to raise the competitiveness of local products in export markets and in the local market.
MENAFN15112023000072011014ID1107427202
Legal Disclaimer:
MENA Financial Services Network provides information "as is" without any representations or warranties...
This disclaims our responsibility for the privacy practices or content of the sites included in our network, including images and videos.
For any queries regarding the use and reuse of this source of information, please contact the provider of the above article.

Masdar owns 31% of Jordan Wind Company with a $90 million investment, highlighting the importance of international investment in the region's renewable energy sector.

The low-carbon energy industry in the Middle East will be worth $257 billion by 2030, with PV accounting for 50% of the project value in the Middle East energy industry.

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.

The Middle East PV market is expected to be nearly a trillion dollars by 2030, driven by growing demand for solar energy.

China's PV companies are heading to the Middle East, with the region importing 11.4 GW of PV modules from China in 2022.

Saudi Arabia's PV imports from China increased tenfold in 2022, highlighting the growing partnership between China and the Middle East on solar energy.

The UAE grew by 340% year-on-year in PV imports from China in 2022, demonstrating the country's rapid growth in the solar sector.

The UAE aims to achieve net zero emissions by 2050 and is investing heavily in solar energy to achieve this goal.

The UAE will host Cop28 next year, which will provide a platform for the region to showcase its progress on renewable energy and climate goals.

Abu Dhabi Sustainability Week promotes sustainable development and provides a platform for companies to showcase their renewable energy projects.

The Dubai hosts Middle East and North Africa Solar Conference, which explores the benefits of perovskite solar cells and showcases the region's latest solar projects.

Title:

Content: Dubai: A first-of-its-kind conference in the region taking place in Dubai is exploring the benefits of perovskite solar cells to to enhance photovoltaic systems in the MENA region’s climate conditions.

A line-up of international researchers, scientists and specialists at the first Middle East and North Africa Solar Conference (MENA-SC) 2023, are presenting the latest scientific and technical progress of organic and organic-inorganic hybrid perovskite cells.

They are also discussing methods of testing photovoltaic solar panels to ensure their reliability and suitability for the climate and atmosphere of the MENA region, for optimal performance in different climate conditions.

Dubai Electricity and Water Authority (DEWA) is organising MENA-SC from November 15 to 18 at the Dubai World Trade Centre. The conference is the first scientific and technical conference of its kind in the region, specialising in solar energy systems.

It focuses on all areas of photovoltaics with a rich programme on PV materials and devices, future technologies, PV reliability and forecasting for performance assessment. Areas extend to system operation, concentrated solar power and grid integration, all of which are key in accelerating the green energy transformation.

Clean energy

Saeed Mohammed Al Tayer

“We strive to achieve the wise directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, to consolidate Dubai’s global position in renewable and clean energy, and sustainability,” said Saeed Mohammed Al Tayer, MD and CEO of DEWA.

“The conference creates additional momentum for the renewable and clean energy sector in the MENA region.”

Al Tayer said this is through encouraging innovation, research, and development and by showcasing the latest innovations, research papers, and scientific discoveries in solar energy.

The conference is also attracting scientists, researchers, investors, and international keynote speakers to exchange knowledge, and insights, and discuss breakthrough ideas and the latest innovative technologies and solutions to accelerate the development of the solar photovoltaic systems industry, and deliver the expected Return on Investment for all stakeholders along the value chain, Al Tayer pointed out.

Read More

Perovskite and organic materials

The research papers at MENA SC focus on the most prominent scientific and technical progress of perovskite, organic, and hybrid solar cells, which are rising stars for solar cell and optoelectronic applications for their outstanding features.

The conference explores the horizons of these emerging PV technologies, which are low-cost, lightweight, flexible, and eco-friendly. They also combine efficiency and stability.

The conference is also holding discussions on organic and dye-sensitised solar cells, high-performance hybrid tandem or multijunction solar cells, PV module and system reliability in the MENA region, effects and mitigation of soiling on PV Systems and module and system reliability in the circular economy. The MENA-SC 2023 conference is held in conjunction with the 25th Water, Energy, Technology, and Environment Exhibition (WETEX) and Dubai Solar Show 2023.

DEWA at WETEX and DSS

Meanwhile, DEWA is showcasing its key projects, initiatives, and digital services at its stands at WETEX and DSS 2023.

Some of the most prominent projects being featured by DEWA include the following: The Mohammed bin Rashid Al Maktoum Solar Park, Green Hydrogen Project, Hassyan SWRO IWP Project, DEWA’s Space-D programme, Pumped-storage hydroelectric power plant in Hatta, Dubai Mountain Peak, Aquifer Storage and Recovery (ASR) project, the Green Charger initiative, Smart Grid, Rammas (DEWA’s virtual employee supported by ChatGPT) and the Duroob smart app.

Organised by DEWA under the directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, the events are held under the theme ‘At the Forefront of Sustainability.’

The current edition of WETEX & DSS has attracted around 2,600 companies from 62 countries. The exhibition is spread over 78,000 square metres and includes 24 international pavilions.

The Mohammed bin Rashid Al Maktoum Solar Park is showcased at the conference, highlighting the UAE's commitment to solar energy.

The Turkish company GETAS Group has invested $60 million in a 72 MW solar power plant in Bahrain, demonstrating the growing interest of international companies in the region's solar sector.

Title:

Content: Archive / Global News
A Turkish company invests $60 million in solar energy in Bahrain
You are now following the news of a Turkish company investing $60 million in solar energy in Bahrain from the World News section and now we leave you with full details
Shahd Mohammed - Abu Dhabi on Monday, August 21, 2023 04: 20 PM - The management of Turkish company GETAS Group announced on Monday that it will invest in a solar power plant in Bahrain worth $60 million.
The Chairman of the Board of Directors of the company, Aykut Erdogan, said in a press statement that the solar power plant in Bahrain will have a capacity of up to 72 MW.
“But this capacity could be increased to 200 megawatts in the next phase. ”
“Solar panels will be installed on the roofs of the car parks at the University of Bahrain campus and Al Dana Exhibition Centre, on the grounds of the University of Bahrain campus, and on the roofs of other exhibitions. ”
The chairman pointed out that his company will import solar panels from a Taiwanese partner company of Turkey ’ s GETAS Group.
He added that the implementation of the project will start in November and that the project will be ready within a maximum of 18 months.
We hope that we have succeeded in conveying the full details of the news of a Turkish company investing $60 million in solar energy in Bahrain.
In God ’ s care and protection.
Advertisements
You may also read.

The project has a total cost of $60 million and will be completed within 18 months, with solar panels imported from a Taiwanese partner company.

The investment is located in Bahrain, Middle East region, and will help the country to increase its solar capacity.

The company JinkoSolar has over 50% market share in Middle East solar energy, and over 70% market share in Saudi Arabia solar energy, demonstrating its dominance in the region's solar sector.

The company Sunlight Power has three energy storage sites in Saudi Arabia, highlighting the importance of energy storage in the region's solar landscape.

The Vision Group will manufacture wind turbines locally in Saudi Arabia, which will help to increase the country's wind energy capacity.

The Saudi wind power aims for 75% localized production by 2030, demonstrating the country's commitment to becoming a major player in the global wind industry.

The IFC approved $635 million investment for solar projects in Egypt, which will help to increase the country's solar capacity.

Title:

Content: $635mn investment approved to build and operate 11 solar plants in Egypt

By James Henderson
The Board of Executive Directors of IFC, a member of the World Bank Group, has approved an investment of $635mn that will help construct, ope...

The Board of Executive Directors of IFC, a member of the World Bank Group, has approved an investment of $635mn that will help construct, operate and maintain up to 11 solar power plants in Egypt.

The combined capacity of the plants amount to 500 megawatts, and will be one of the largest private foreign direct investments in the country’s power sector in recent years.

Part of Egypt's landmark solar Feed-In Tariff (FIT) program, the $730mn project in Benban, near Aswan, aims to mobilise private investment to build the world's largest solar photovoltaic generation park, harnessing the country’s vast solar resources.

SEE ALSO:

As well as helping to spur economic growth, the project will help drive the local economy, including the creation of temporary and long-term jobs and help reduce greenhouse gas emissions

“This landmark investment demonstrates that when you have the right reform policies, and a government willing to allow greater involvement by the private sector, you can attract investors in every sector, including infrastructure,” said Mouayed Makhlouf, IFC Director for the Middle East and North Africa.

“Investments like these are the nucleus for economic growth, which is needed in Egypt.”

Egypt’s solar FIT program, which includes projects financed by other institutions like the European Bank for Reconstruction and Development and Proparco, is expected to be one of the largest foreign direct investments in years, attracting investments of up to $2bn.

Share

Featured Articles

Honest debates about fossil fuels in the energy transition

Robin M. Mills, CEO of Qamar Energy and author of 'The Myth of the Oil Crisis', reflects on the integral role of oil and gas in the energy transition

Uniper partners with Shell for UK blue hydrogen project

The Humber Hub Blue Project includes plans for a blue hydrogen production facility with capacity up to 720MW, using gas reformation technology with CCS

EnerMech Oil & Gas ProServ JV wins first two contracts

A new joint venture between EnerMech and Oil & Gas ProServ has secured its first two contracts, worth $3mn, in the Azerbaijan region

Avanade completes cloud migration at Hinkley Point C

Technology & AI

Mitsui & Co invests €10mn in Lhyfe to fuel hydrogen growth

Renewable Energy

Eco Wave Power to build 2MW wave energy plant in Spain

Renewable Energy

The investment will be used to build 11 solar power plants with a combined capacity of 500 megawatts, making it one of the largest private investments in the country's solar sector.

The project is expected to attract foreign investments and will help to achieve the country's renewable energy targets.

The total cost of the project is $730 million, and it will be located in Benban, near Aswan, Egypt.

The project is part of the country's solar FIT program, which aims to increase the share of solar energy in the country's energy mix.

The program is expected to attract $2 billion in foreign direct investments, which will help to boost the country's economy.