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

The region aims to increase its renewable energy capacity by 2030, as outlined in the COP28 pledge.

The UAE aims to generate 50% of its electricity from renewable and nuclear energy by 2050.

Saudi Arabia aims to achieve carbon neutrality by 2060 through various initiatives.

The region's energy transition is driven by both environmental concerns and economic opportunities, as its finite oil reserves face a 75% decline in demand by 2050.

The shift towards renewable energy is expected to create new job opportunities and stimulate local economic growth.

Climate change is impacting the region, affecting food security and water scarcity through rising temperatures and altered precipitation.

The region's high population growth and urbanization are increasing energy demand, making renewable energy investment essential.

The Middle East's energy transition is driven by government policies and incentives, including tax breaks for renewable energy investment.

The UAE plans to invest $163.5 billion in clean energy projects.

Masdar City in the UAE is the world's most sustainable urban community, powered by renewable energy.

Egypt has invested $120 million in a waste-to-electricity plant, aiming to convert 4.5-5 million tons of waste to energy annually.

The Egyptian government's "Egypt Solar Platform" initiative aims for 42% renewable energy by 2030, with solar panels saving 1800 kilowatts/hour per year.

Jordan aims to reach 50% renewable energy, having already achieved 31%, and plans to export excess clean power to neighbors.

Saudi Arabia is leading in capacity growth, and Oman aims for 16% renewable electricity by 2025.

The UAE and Saudi Arabia offer incentives for electric vehicles, aiming for the UAE to have 50% electric vehicles by 2050.

The UAE aims to mobilize $272 billion in sustainable finance by 2030 and reach net zero by 2050, investing $40 billion in clean energy.

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

Title:

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

The region aims to increase its renewable energy capacity by 2030, as outlined in the COP28 pledge.

The UAE aims to generate 50% of its electricity from renewable and nuclear energy by 2050.

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.

Saudi Arabia aims to achieve carbon neutrality by 2060 through various initiatives.

The region's energy transition is driven by both environmental concerns and economic opportunities, as its finite oil reserves face a 75% decline in demand by 2050.

The shift towards renewable energy is expected to create new job opportunities and stimulate local economic growth.

Title:

Content: Monday 26th September 2022 Abu Dhabi UAE
Prayer times
Today 's Issue
Today 's Issue
United Arab Emirates
TRENDS Conference: Middle East Security and Climate Change Challenges
TRENDS Conference: Middle East Security and Climate Change Challenges
September 26, 2022 02: 56
Abu Dhabi (Union)
With the participation of Al-Ittihad newspaper and in cooperation with the Atlantic Council, TRENDS Research and Consulting Center is organizing its second annual conference, entitled “Sustainable Security in the Middle East: Challenges and Prospects of Climate Change ”, at the Council ’ s headquarters in Washington, DC, with the participation of four ministers and about 30 speakers from important political figures and experts from different countries of the world.
The conference aims to highlight climate change as a global crisis that requires new approaches and joint steps to address the consequences, while at the same time providing innovative solutions in all sectors in which climate diplomacy plays a pivotal role for a better future for the Middle East and the whole world.
This year ’ s conference will discuss climate action in the region, explore environmental challenges and opportunities, and showcase ambitious solutions.
The two-day sessions will also provide unique perspectives focusing on climate resilience, the transition to a low-emission economy, and collaboration to solve pressing challenges.
The conference aims to draw insights from experts and practitioners from within and outside the region to formulate recommendations for policymakers.
Keyword
Keynote addresses will be delivered by H.E. Sheikh Nahyan bin Mubarak Al Nahyan, Cabinet Member and Minister of Tolerance; Sheikha Shamma bint Sultan bin Khalifa Al Nahyan, Chief Executive Officer of the UAE Independent Climate Action Accelerators Project; H.E. Dr. Sultan Ahmed Al Jaber, Minister of Industry and Advanced Technology; UAE Special Envoy for Climate Change; H.E. Maryam Al Muhairi, Minister of Climate Change and David Livingstone, Senior Advisor to the US Presidential Special Envoy.
Dr. Mohammed Abdullah Al-Ali, CEO of TRENDS Research and Consulting Center, said that the second annual TRENDS conference, which coincides with the Center ’ s celebrations of its eighth anniversary, with its participation of experts and thinkers, will certainly be an important opportunity to present ideas and perceptions that help support regional and international efforts to address the threat of global warming. In order to overcome them and achieve the desired goals, especially in the field of achieving sustainable environmental security, in the Middle East region.
Dr. Al-Ali stressed that TRENDS aims to organize its second annual conference “Sustainable Security in the Middle East: Challenges and Prospects of Climate Change ”, in cooperation with the Atlantic Council, to be a bridge of knowledge and academic communication linking the most important think tanks and studies at the regional and international levels. About 30 speakers were important political figures and experts from around the world.
Regional focus
Hamad Al Kaabi, Editor-in-Chief of the Union, stressed that the media is a key partner in raising awareness of the importance of addressing climate change, which is no longer a future threat but a daily challenge facing all the world ’ s population and all countries.
Al-Kaabi, who will present a paper at the conference on “The role of media in supporting green security initiatives, ” said that the region is now the focus of the world ’ s attention as it hosts Cop27 events in the Egyptian city of Sharm el-Sheikh from November 8 to 18, and the United Arab Emirates hosts Cop28 events in the city of « Expo Dubai » in November 2023.
It has become clear that climate change has become a file that requires regional cooperation, as well as concerted global efforts to curb climate change, protect sustainable development plans, and maintain the development and prosperity paths in the Middle East.
The conference will begin with an opening speech by H.E. Sheikh Nahyan bin Mubarak Al Nahyan, Cabinet Member and Minister of Tolerance and Coexistence, while the keynote speech will be delivered by David Livingstone, Senior Advisor to the US Presidential Special Envoy for Climate Affairs.
Security and Climate Change
The first day will also feature a welcome speech by Dr. Mohammed Abdullah Al-Ali, CEO of TRENDS Center, and Mr. Jonathan Panikov, Director of the Scowcroft Middle East Security Initiative, Middle East Programs, Atlantic Council.
The first session of the conference will discuss the topic of national security, climate change and the Middle East: current challenges and future prospects, highlighting the perspective of climate change and national security in the region and their implications for the Middle East and the stability of the region, environmental changes and the effects of global warming on public health, the link between extreme natural phenomena and increased migration flows, and climate change as a geopolitical challenge: adaptation and resilient development.
The session will be moderated by Reina Nainan, Senior Non-Resident Researcher at the Adrian Arsht-Rockefeller Foundation Resilience Center, Atlantic Council, and the co-founder ’ s CEO, News3 Dow.
Scarcity of resources
The second session will address the impacts of resource scarcity and population growth in the Middle East.
The effects of the war in Ukraine are discussed in the Middle East's main agricultural imports, such as wheat.
As well as the challenges facing the region in terms of high demand for food and water, especially in light of the expected increase in the region ’ s population, future prospects and implications of population growth and drought on the infrastructure of food and water systems, the strategic importance of water and the growing concept of cross-border water conflict in the Middle East and North Africa, the impact of climate change on supply chains, regional food security strategies and the effects of the war in Ukraine.
The session will be moderated by Dr. Christian Alexander, Head of Strategic Studies at Trends.
Clean energy
The third session of the first day of the conference will begin in the afternoon US time with a keynote address by H.E. Dr. Sultan Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology and UAE Special Envoy for Climate Change.
The session will then address energy industries, infrastructure and politics in the Middle East: opportunities and challenges of the transition to clean energy, and will discuss the transition to an energy system in which environmentally friendly technologies and the potential of sustainable clean energy sources play an increasingly important role.
In addition to the role of industrial partnerships in the transition to safe and low-carbon energy systems, the transformations of key high-energy industries in pursuit of sustainability objectives, the impact of increased regional gas supplies to Europe (in light of the Russian invasion of Ukraine) on the rapid transition to wind, solar and hydrogen, the challenges of energy transition in the Middle East and North Africa, and the impact of renewable energy generation on urban infrastructure, transportation systems and electricity grids.
The session will be moderated by Dan Murphy, CNBC's Middle East anchor and correspondent.
Climate Diplomacy
The second day of the second annual TRENDS conference in Washington will begin with an opening speech by Her Excellency Maryam Bint Mohammed Al Muhairi, UAE Minister of Climate Change and Environment, followed by the fourth session of the conference entitled between COP27 and COP28: Middle East Diplomatic Efforts to Address Climate Change.
The session will address the role of climate summits in facilitating the transition to a low-carbon economy and highlight the importance of geopolitical factors related to climate diplomacy, as well as new visions for building a sustainable environmental framework, assessing the commitments and commitments made at COP26, and climate diplomacy as a growing foreign policy challenge.
The title is divided into two themes: COP27 and COP28, which will be attended by Sheikha Shamma bint Sultan bin Khalifa Al Nahyan, CEO of the UAE ’ s Independent Climate Action Accelerators Project.
It highlights the UAE ’ s hosting of this conference.
The session will be moderated by Awad Al Braiki, Head of Trends Global.
Green security initiatives
The fifth session of the conference is entitled “Multilateral Green Security Initiatives: The Beginning of a Green New Era Towards Collective Environmental Security in the Middle East ”.
It will discuss the importance of regional and collaborative efforts in operationalizing the Middle East ’ s green security initiatives, as well as ways to mitigate the challenges of environmental insecurity, and ways to enhance regional security and key infrastructure systems that accommodate different climatic conditions, through environmental measures and collective green initiatives.
The use of multilateral green security initiatives to improve the capacity of MENA countries to be global leaders in a resilient and inclusive post-carbon economy, the economic aspects of sustainable environmental security and the investments needed to achieve environmental security, and the role of the media in supporting Middle East green security initiatives.
The session will be moderated by Mohamed Al Mulla, Founder and Director of Diwan Al Mulla Network in the State of Kuwait.
The conference will conclude with recommendations and closing remarks, delivered by Somaya Hadrami, Vice President of Trends Global, and Mr. William Wechsler, Senior Director of the Rafik Hariri Center and Middle East Programs, Atlantic Council.
* Trends Research and Consulting Center is an independent research institution, established in 2014 in the Emirate of Abu Dhabi, United Arab Emirates, and is interested in looking to the future through many specialized research programs.
Trends has been able to build a strong network of relationships and partnerships with various international research centers and international governmental and non-governmental organizations and bodies, and benefit from international research and academic expertise to enhance its scientific and research role at the regional and global levels, by organizing scientific events that enrich the exchange of research experiences and expertise, and the production of various publications in various fields of human knowledge. *
All rights reserved to Al Ittihad Newspaper 2022 ©

Climate change is impacting the region, affecting food security and water scarcity through rising temperatures and altered precipitation.

The region's high population growth and urbanization are increasing energy demand, making renewable energy investment essential.

Title:

Content: The Middle East is on the cusp of an energy revolution.
In the midst of unprecedented climate change
The next morning – follow up:
The world is currently facing extreme weather extremes, from flash floods to heavy rainfall to record-high temperatures and wildfires, all pointing to a single source: climate change driven by carbon emissions in the air.
The Middle East is particularly affected by this situation as it produces and consumes a very large amount of carbon-emitting fossil fuels that in turn lead to climate change.
A UN report by a UN scientific panel described climate change as unprecedented, saying it was definitely people who were responsible for climate change.
He called for drastic cuts in emissions in order to keep global temperature below the limits set out in the 2015 Paris climate agreement.
According to the Intergovernmental Panel on Climate Change (IPCC), “The scope of recent changes in aspects of the climate system as a whole and the current state of many aspects of the climate system are unprecedented for centuries or several millennia. ”
"Based on the available evidence, they have high confidence that atmospheric carbon dioxide concentrations were higher in 2019 than at any point in at least two million years, and that since 1970, global surface temperature has risen faster than any other 50 years in at least the last two millennia."
234 experts from 66 countries wrote the report, the most comprehensive since 2013.
Many of the effects of climate change can no longer be avoided today.
John Alterman, vice president of the Center for Strategic and International Studies, director of the Middle East Program and director of the Brzezinski Chair for Global and Strategic Security, says no region in the world is more immersed in the consequences of global climate change than the Middle East.
The region accounts for 30% of global oil production and oil revenues are the locomotive of government revenues in the region, either because countries produce oil or because countries produce a workforce working in oil-exporting countries and send money home.
Because of oil revenues, Middle Eastern governments can and do employ large numbers of their own population.
As the world moves away from oil as a source of energy, the economies of the Middle East will change profoundly.
John Alterman adds in a report published by the Center for Strategic and International Studies that at the same time the Middle East is vulnerable to the consequences of climate change.
The region is already extremely water-poor, with the Middle East having 9 of the 10 most water-poor countries.
Drought pushes farmers away from their land and the region ’ s many coastal cities are threatened by sea-level rise, and rising summer temperatures increasingly combine with humidity to endanger human survival.
The Middle East is thus rooted on both sides of the issue of climate change.
As global consumption patterns change, the Middle East will change profoundly.
With climate change, the Middle East will also change profoundly.
He adds that developing countries' energy consumption rises sharply as incomes increase and are likely to rely on existing equipment and technology for longer.
While the rich can spend thousands on green products, for much of the world ’ s population oil and gas will remain affordable fuel.
But Middle Eastern governments may not be willing to cut their oil production.
A sustained drop in global consumption, however small, would put pressure on Gulf states to increase output in a bid to drive higher-cost producers out of the market and ensure they are not left with less valuable barrels in the ground when consumption falls further.
Governments across the Middle East have been preparing for a post-oil world for years but are still far from their goals, says John Alterman.
In the Gulf countries, years will be needed to move from the reality of high-productivity, low-wage workers supporting the efforts of low-productivity, high-wage workers.
The energy transition will be important for more than just the Middle East.
Energy security is the driver of much of China ’ s recent investment in the region.
If China decides that its energy security derives from mines in Africa and not from wells in the Middle East, we should expect a shift in Chinese interest and capital.
If there is a more permanent role for oil and gas in the global energy picture, there could be more competition between the United States and China for regional influence.
Finally, Western countries could move away from hydrocarbons for environmental reasons while China and the developing world remain devoted to them for economic reasons.
This could almost be reflected in America abandoning its future role in the Middle East, with China capturing much of this inaction.
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The Middle East's energy transition is driven by government policies and incentives, including tax breaks for renewable energy investment.

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Tesla Competitor Lucid Raises $1.5 Billion, Majority From Saudi Sovereign Wealth Fund

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Key Takeaways

  • Lucid Group has raised an additional $1.5 billion to support ongoing operations, with $915 million being contributed by the Saudi Arabia Public Investment Fund.
  • It keeps the Fund’s stake in Lucid at around 62%, continuing their status as a majority owner of the company.
  • Despite almost $1 billion in additional investment, it’s a drop in the bucket compared to the funds total value, which is estimated at over $620 billion.
  • It marks a continued diversification of the oil states diversification away from fossil fuels, into a wide range of investment from video games to sports teams to major infrastructure projects.

Electric vehicle (EV) manufacturing has come a long way over the past ten years. Back in 2008 when the first generation Tesla Roadster was launched, EV's were very much a curiosity.

It was the first road legal production EV, and while less than 2,500 Roadsters were sold across the world, it kicked off a trend that continues to pick up pace today.

Tesla wasn't the first company to make an electric vehicle. They’ve been made in one form or another as far back as 1828. But Tesla were the first to mass produce one that was legally able to be driven on the road, and they made it sexy to boot.

Since then, the EV market has exploded.

There have been a huge number of newcomers to the space, with companies such as Rivian, Nikola, Polestar, Fisker and Lucid all vying for their share of the electric gold rush. Not only that, but traditional automakers are pumping billions of dollars into the sector as well.

Companies such as General Motors, Mercedes-Benz, Volkswagen Group, Kia and Hyundai and others have all jumped on the bandwagon and now offer a range of electric vehicles alongside their internal combustion range.

The trend is only going to pick up speed. Many jurisdictions are now seeking to ban the sale of new gasoline and diesel powered cars, such as California and all states signed up to their Zero Emission Vehicle Program, plus the UK and Europe, Canada, New Zealand, Singapore, Japan, Iceland, Norway and even China.

So with all that going on in the background, it’s not a stretch to suggest that the oil states might be getting a little nervous. It’s why we’ve seen such a huge push from places like Sudi Arabia, the United Arab Emirates and Oman to diversify their economies away from just oil.

The Saudi Arabia Public Investment Fund is already a majority owner of Lucid Motors, and with an additional $915 million cash tipped in with this round, their stake remains at sound 62%.

Download Q.ai today for access to AI-powered investment strategies.

Lucid raises $1.5 billion

In addition to the $915 million added by Saudi Arabia, Lucid raised an additional $600 million through a traditional secondary stock offering. The funds will be used to help bolster the company’s balance sheet, after it posted underwhelming third quarter results.

The figures showed delivery numbers way down from expectations which had been as high as 20,000 vehicles in 2022. Now the number is expected to be below 7,000.

Lucid is now likely to have over $5 billion in cash reserves, with the newly raised $1.5 billion being added to the $3.85 billion on hand on September 30.

After going public in January 2021, Lucid’s stock price rose very quickly from an IPO price of $14 to hit an all-time high closing price of $58.05 in February of that year. It came back down soon after to settle in the low $20 range, before running up to the high $50’s again in late 2021.

Since then the price has crashed in 2022 and is down over 81% year to date. It currently trades at just under $8 per share.

What is the Saudi Arabia Public Investment Fund?

By far the largest investor in Lucid is the Saudi Arabia Public Investment Fund (PIF), which holds around 62% of the company. The PIF is a sovereign wealth fund that was established by the government of Saudi Arabia in 1971. Its mandate is to manage the country's financial assets and make strategic investments that will contribute to the economic development of Saudi Arabia.

The PIF is one of the largest sovereign wealth funds in the world, with assets estimated at over $620 billion. It is a key financial institution in Saudi Arabia, and it is responsible for managing a large portion of the country's financial resources.

The PIF has made a number of high-profile investments in recent years, including a $3.5 billion stake in Uber, $522 million in Meta, $495 million in Disney, $487 million in Bank of America, $713 million in Boeing and $522 million in Citigroup.

The fund has also made a number of bets on gaming, at various times taking minority ownership in Electronic Arts, Take-Two Interactive, Activision Blizzard, Capcom, Nexon and Nintendo.

It doesn’t end there.

There have been a range of high profile investments in sports as well. In 2021 the fund purchased English Premier League club Newcastle United for $370 million and also launched LIV Golf, a high profile, big money competitor to the PGA Tour.

These investments were made in order to help the PIF diversify its portfolio and generate returns for the benefit of the Saudi government and its citizens.

The PIF has also played a key role in the Saudi government's efforts to diversify the country's economy away from oil. For example, it has invested in a number of infrastructure projects, like the construction of a new international airport in Riyadh and the development of a new city called NEOM - the crazy, 100 mile long, mirror-finished, futuristic ‘line’ in the desert.

These projects are intended to create jobs and stimulate economic growth in non-oil sectors, and they are part of the Saudi government's Vision 2030 plan to transform the country into a more diversified and modern economy.

The PIF is hugely important for Saudi Arabia, and it is expected to play a key role in the country's economic development in the future. It’s responsible for managing a significant portion of the country's financial resources, and it is working to make strategic investments that will contribute to the economic growth and diversification of the country.

Why are oil states moving away from oil?

It’s not just the move to EV’s which is driving this diversification.

At the end of the day, oil is a finite resource, which means that it will eventually run out. The oil reserves in these countries are not infinite, and at some point in the future, they’ll be gone.

That might be a long way off, but nonetheless it will happen.

This is a concern for the governments of these countries because oil has traditionally been the main source of income and economic activity in the region. If they don’t diversify their economies and find other sources of income, they’ll be in big trouble when oil or its demand begins to run out.

Another reason for diversification is that the demand for oil can fluctuate significantly, and this can have a big impact on their economies. For example, if there is a recession or a drop in global oil prices, the economies of these countries may suffer. This is because the demand for oil decreases during these times, and as a result, the revenues that these countries generate from oil exports may decrease as well. By diversifying their economies, these countries can be less reliant on a single resource and be less vulnerable to these fluctuations.

The oil states also recognize that there are increasing concerns about the environmental impacts of fossil fuels and the need to transition to more sustainable sources of energy.

Diversifying their economies can help them achieve this goal by promoting more diverse and sustainable sources of economic activity, such as renewable energy, tourism, and technology.

Overall, diversifying their economies away from oil is seen as a way for the Middle Eastern oil states to ensure their long-term economic stability and sustainability. By having a more diverse and resilient economy, they can better weather economic downturns and other challenges, and continue to thrive in the future.

How can investors benefit?

There’s no denying that moving towards a more sustainable future makes sense. Not just from an environmental standpoint, but from an investment one as well. There is a huge push for new technologies and strategies to make our economy cleaner, and this creates a big opportunity for companies.

In our Clean Tech Kit, we use the power of AI to invest across a range of different green technologies. These include renewable sectors such as EV producers and infrastructure manufacturers, hydrogen fuel cell tech, alternative fuels, battery manufacture, waste reduction and smart water technologies.

Every week our AI predicts how each holding in the predetermined investment universe is likely to perform in the coming week on a risk-adjusted basis, and then automatically rebalances the Kit in line with these predictions.

This includes three ETFs, plus a weekly allocation to between 16-19 individual stocks out of a total universe of 58.

It’s like having a professional investment manager, right in your pocket.

Download Q.ai today for access to AI-powered investment strategies.

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The UAE plans to invest $163.5 billion in clean energy projects.

Title:

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Updated: October 19, 2022, 10:41 AM
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Masdar City in the UAE is the world's most sustainable urban community, powered by renewable energy.

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Content: New technologies to achieve sustainability goals and address climate change
Science and Technology
Huawei
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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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Egypt has invested $120 million in a waste-to-electricity plant, aiming to convert 4.5-5 million tons of waste to energy annually.

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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 Egyptian government's "Egypt Solar Platform" initiative aims for 42% renewable energy by 2030, with solar panels saving 1800 kilowatts/hour per year.

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Content: Exclusive renewable energy solutions attract the attention of Egyptian real estate developers
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Egyptian real estate developers have turned to the use of solar energy solutions in their projects to provide sustainable energy sources in projects and overcome any potential crises related to the lack of power supply or capacity of major networks, as well as adding value to projects that enhance their marketing opportunities.
Managing Director and CEO of Madinat Misr, Abdullah Salam, said that the Egyptian real estate development companies are constantly seeking to provide green solutions to their customers, given the importance of sustainability in projects to ensure adding value to projects.
He added that his company adopts a vision to develop sustainable communities, starting from the project designs and taking into account the surrounding environmental conditions, including addressing energy problems, rationalizing its use and ensuring its continuous availability, rationalizing the use of water and recycling, and recycling waste.
He explained that the company is studying all modern technological solutions for the use of renewable energy sources in the communities that develop them.
He pointed out that the launch of new technological solutions in residential urban communities is a challenge that the company is working to find solutions for now.
“While the cost of building solar panels or introducing new energy efficiency solutions increases, this will reduce the operational costs of those services in the long run compared to those of traditional energy sources, which not only increase their operating costs but rise over time due to higher prices of conventional energy, ” he said.
Use of foreign expertise
Ahmed Al-Attal, Chairman of the Group of Companies for Real Estate Development, said with Sunview, a Malaysian company specialized in sustainable alternative solutions for energy and the production of solar panels to provide solar panels in Parklane project in the New Administrative Capital and other projects of the company in West Cairo and Future City in East Cairo.
He added that the Malaysian company is currently working to open its regional office in Egypt to facilitate access to the service and under the contract will pay for the service over 10 years, in addition to its contract two years ago with Siemens to provide alternative energy solutions and digitization of its projects.
Al-Attal told Al Arabiya Business that his company complies with the requirements of the Administrative Capital for Urban Development Company, which requires that at least 60% of the roofs of buildings in the project be allocated for the installation of solar panels.
He added that "Attal" has already allocated about 80% of the roofs of buildings, whether residential or administrative, for the installation of solar panels, explaining that his company will transfer the electricity production service from solar energy to the Administrative Capital Company, which in turn will buy the service and sell it to customers, which means that real estate developers in the New Administrative Capital project will not sell electricity themselves.
He stressed that the company will generalize this experience in its other projects in various regions, where electricity will be produced from solar energy and sold directly to customers, and will be paid for the service through the maintenance differences paid by the customer.
Top Developer Initiatives
Sebastian Reyes, president of Schneider Egypt, North Africa and the Levant, said that the Egyptian real estate sector is witnessing a very large growth during the current period.
“We have a number of discussions with many major real estate developers, and we also have a strong partnership with most real estate developers such as Talaat Mustafa, Al-Ahly Sabbour Development, Tatweer Misr, Landmark Sabbour Real Estate Development, Misr Italia, Paragon and others, ” he added.
Reyes stressed that all these developers expressed their desire to create sustainable urban communities, move to digitization in the management of energy resources and use modern technology to rationalize the use of energy, to preserve the value of the property and build a sustainable future for their customers.
Reyes explained that Schneider Egypt has a large and extended partnership with the Administrative Capital Company for Urban Development, noting that they are holding open discussions all the time with the company to deliver more sustainability in the city by offering rational and clean energy solutions.
Government incentives
Romany Hakim, chairman of the board of directors of Benchetti Solar Energy and vice chairman of the Energy Development Association (SIDA), said that Egyptian real estate developers have been studying for years the use of solar panels in electricity production, however, no actual proposals have yet been put forward to sell the units as green homes based on alternative energy.
He added that companies specialized in the production of renewable energy have made several offers to real estate developers to exploit the empty spaces on the roofs of unutilized residential buildings.
He said that some real estate companies have been forced to use this technology in public spaces within residential complexes without applying it to the residential units themselves.
He pointed out that real estate developers need to be incentivized by the state to provide facilities for the installation of solar panels in residential buildings and must have a clear marketing plan to sell these units, while explaining their benefits to customers in terms of sustainability and rationalization of energy use, which contributes to reducing operational expenses for customers.
Hakeem pointed out that the solar panel industry in Egypt is currently witnessing significant growth, despite some obstacles that private sector companies seek to overcome.
He explained that the situation is much better than before, but there is a need for the support of the state and customers, in addition to providing clear and serious incentives for them to take the initiative.
Hakeem stressed the need for full cooperation between the ministries of electricity, finance and petroleum to solve the problems facing the new and renewable energy sector, pointing out that the cost of producing kilowatts of electricity with solar energy is much cheaper than producing it using natural gas, which contributes to providing natural gas more to the industrial sector.
He also called for incentives for developers to use solar panels in homes in undeveloped areas, tax incentives such as tax relief, reduced property taxes or electricity subsidies for developers, and mandatory rules for installing solar energy in buildings before projects are approved.
Cost reduction
Hakim revealed that one kilowatt of solar energy can save about 5-6 kilowatts / day, equivalent to 1800 kilowatts / hour per year, and in some areas up to 2000 kilowatts / hour per year, at a cost of about 20,000 pounds per kilowatt.
According to estimates by Intersolar Egypt, a specialist in the field of solar energy in Egypt and the Middle East, the estimated cost of solar panels to produce one kilowatt in Egypt is about $1,000 and requires an area of 8 square meters on the ground.
Government initiatives for individuals
The Egyptian government announced last year the “Egypt Solar Platform ” initiative to facilitate the installation of solar panels for homes and companies to stimulate the reduction of consumption of traditional sources of energy and increase reliance on new and renewable sources of energy to reach 42% renewable energy participation by 2030.
The platform provides guidance on the installation of solar cells, the costs involved, the capacity required and the required documentation, as well as lists of qualified companies for the installation of these cells, and facilitates communication between customers and the installation companies and electricity distribution.
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Jordan aims to reach 50% renewable energy, having already achieved 31%, and plans to export excess clean power to neighbors.

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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.
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Saudi Arabia is leading in capacity growth, and Oman aims for 16% renewable electricity by 2025.

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Content: MUSCAT: Renewable capacity expansion in the Middle East and North Africa (MENA) is projected to grow three-fold over the next five years (2023 – 2028), with the Sultanate of Oman ranked among the front-runners in driving this growth. According to a new report by the International Energy Agency (IEA), Oman’s renewables capacity growth is set to be the fourth largest in the region after Saudi Arabia, United Arab Emirates and Morocco.

These countries will account for the lion’s share of the 62 gigawatt (GW) increase in renewables capacity anticipated in the region by 2028, the Paris-based intergovernmental agency noted in its newly published report. “Over the next five years, the pace of growth is expected to accelerate to more than three times the previous five-year period, with solar PV making up over 85 per cent of the increase. Onshore wind and concentrated solar power also contribute,” said the IEA in its report, titled ‘Renewables 2023: Analysis and forecast to 2028’.

Driving much of this growth will be efforts by individual countries to decarbonize their electricity generation, but green hydrogen production is set to play a major role as well, according to the report. This is particularly the case in Saudi Arabia, UAE and Oman, it pointed out. “In fact, hydrogen accounts for more than 13 per cent of the region’s renewable capacity growth thanks to government policies to stimulate development for trade. Good solar resources, land availability and existing port infrastructure create favourable conditions for economically attractive renewable hydrogen to be shipped to demand centres in Europe and Asia,” the agency further stated.

Additionally, the report reaffirmed Oman’s positioning among the world’s top exporters of renewable hydrogen. It said: “By 2028, potential export countries could account for over one-fifth of hydrogen-driven renewable capacity deployment, led by Saudi Arabia, Australia, Oman and the United Arab Emirates. With the prospect of producing economically attractive renewable hydrogen to ship to potential demand centres in Europe and Asia, these countries aim to become major exporters of renewable hydrogen and hydrogen-based fuels.”

A revised Renewable Energy Plan enshrined in Oman’s 2040 Vision seeks to secure 16 per cent of electricity from renewables by 2025, rising to 30 per cent by 2030. Clean energy capacity is projected to rise to 2.6 GW by 2025 under the National Energy Master Plan. Supplementing this strategy is a commitment to embracing green hydrogen to, on the one hand, decarbonise the economy, and on the other to evolve into a major producer and exporter of renewable hydrogen. Green hydrogen output is targeted at around 1 million tonnes per annum by 2030.

2022 © All right reserved for Oman Establishment for Press, Publication and Advertising (OEPPA) Provided by SyndiGate Media Inc. (Syndigate.info).

The UAE and Saudi Arabia offer incentives for electric vehicles, aiming for the UAE to have 50% electric vehicles by 2050.

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Content: People 's Daily Online > > Economy and Technology
Electric cars welcome in the Middle East
Li Xuehua
July 18, 2024 08: 47 | Source: Economic Daily
Small number
Original title: China's electric car welcomed by the Middle East market
In recent years, in the face of increasingly severe climate change challenges and increasingly urgent pressure to reduce emissions, countries in the Middle East have accelerated the green transformation of energy and economic diversification, and the development of green transportation has become one of the important contents.
With its cost-effective and beautiful design, Chinese-made electric vehicles are favored by more and more industry insiders and consumers in the region.
The Middle East is becoming a "blue ocean" for Chinese electric vehicle companies to explore the international market.
The development of electric vehicles is the general trend
According to the International Energy Agency (IEA), the transportation sector currently accounts for about 60% of global oil consumption.
In order to achieve global emission reduction targets, the proportion of electric vehicles must be greatly increased.
The development of electric vehicles has become an important part of the Middle East countries to promote the green transition.
The UAE is the first country in the Gulf region to commit to net zero emissions by 2050.
To this end, the UAE has formulated a National Electric Vehicle Policy, which provides preferential measures such as free registration, free parking and reduced charging and tolls to promote the development of the electric vehicle industry.
The UAE has converted 20% of federal government agency vehicles to electric vehicles and has set a target of at least 30% of government vehicles and 10% of road vehicles to be electric (pure electric or hybrid) by 2030.
By 2050, 50% of the UAE ’ s road vehicles will be electric.
The development of the electric vehicle industry is an important part of the Saudi strategic transformation program “Vision 2030 ”. In 2022, the Saudi government launched the national electric vehicle strategy, in addition to increasing the market share of electric vehicles, the Saudi government also provides a series of incentives for consumers to buy electric vehicles, including tax cuts and subsidies.
In addition, the Saudi government has also set a target of 30% of electric vehicles in the capital Riyadh by 2030, with an annual output of 300,000 vehicles.
Saudi Arabia has completed the formulation of relevant supporting policies for the infrastructure of electric vehicle charging stations in August 2022, and promoted the acceleration of the landing of charging infrastructure.
The Egyptian government launched the Electric Vehicle Development Plan in 2018, aiming to make up 2% of the total vehicle fleet by 2025 and 10% of the total vehicle fleet by 2030.
In order to achieve these policy objectives, the Egyptian government has adopted a series of policy measures and incentives to stimulate and support investment and consumption of electric vehicles and charging stations.
The Qatari government ’ s goal is to reach 10% penetration of pure electric vehicles by 2030, expand 15,000 charging stations, and make public transport 100% electric buses.
Governments in the Middle East have launched plans to promote electric vehicles, accelerating the growth of the electric vehicle market, and the acceptance and recognition of electric vehicles by consumers is rising.
Chinese car companies compete
According to PwC ’ s latest “Electric Vehicle Outlook 2024: UAE ” report, it is expected that by 2030, the market share of electric vehicles in new passenger and light commercial vehicle sales in the UAE will exceed 15% (about 58,000 vehicles), and by 2035, this share will increase to 25% (about 110,500 vehicles).
Arthur D. Little, an international consultancy, expects the UAE EV market to grow at a rate of 30% per year between 2022 and 2028.
Deloitte predicts that by 2030, the total value of the Saudi electric vehicle market is expected to reach 28 billion US dollars.
The huge demand for electric vehicles and supporting facilities in the Middle East is undoubtedly a major positive and unmissable opportunity for Chinese car companies.
According to the statistics of the China Automobile Industry Association, in 2023, China's new energy vehicles exported 1.203 million, an increase of 77.6%.
China's new energy vehicle production and sales account for more than 60% of the world's total.
In addition to meeting the needs of the domestic market, "going to sea" has become a concerted action of the industry, and the Middle East has become an important market for large car companies to explore.
Xie Qiyi, Vice President of Dubai One Road Group, said that electric vehicles have become a new business card for Chinese brand cars in the Middle East. During the 2022 World Cup in Qatar, China Yutong Bus provided 1,002 special electric buses to Qatar and put them into the national public transportation system after the World Cup. In October 2022, Red Flag Electric Vehicles successfully “joined ” the Dubai Police Force as the first electric vehicle for the Dubai Police, and the Red Flag E-HS9 has become one of the favorite electric vehicles of local chiefs, royals and government dignitaries.
At the end of 2022, Geely ’ s electric commercial vehicle brand Long Range Motors signed an order for 1,000 electric commercial vehicles with Emirati enterprises. In September 2023, Geely ’ s other electric vehicle brand, Gekrypton Automobile, signed a national general generation agreement with dealers in the UAE, Saudi Arabia, Qatar and Bahrain to build a sales service network.
BYD began to enter the Middle East market in 2023, entering the UAE, Saudi Arabia, Jordan, Qatar, Israel and other countries. In May 2024, BYD officially opened its first store in Riyadh, the capital of Saudi Arabia. In June 2024, BYD completed its 1000th delivery in the UAE.
BYD has established a leading position for electric vehicle brands in the Middle East.
Other Chinese electric vehicle companies such as the Great Wall, Beiqi, Changan, Xiaopeng, Skyworth, etc. have also opened up the Middle East market.
With its high cost performance and beautiful design, China's electric vehicles are favored by more and more consumers in the Middle East.
According to data released by the Israel Automobile Importers Association, in 2023, China 's electric vehicles accounted for about 61% of the Israeli electric vehicle market share. In the first half of 2024, the market share increased to 68.31%, and BYD became the sales champion brand, with the ATTO 3 becoming the best-selling model in Israel in the first half of the year with 7265 sales.
In Jordan, Egypt and other countries, sales of Chinese brand electric vehicles are also growing.
Industry insiders are generally optimistic about the sales prospects of Chinese brand electric vehicles in the Middle East.
Heiko Seitz, head of global and Middle East electric vehicles at PwC, expects to see more electric vehicle models from Chinese companies in the UAE in the coming years.
A report by Dubai-based Glasgow Research Consulting found that Chinese automakers are seizing the opportunity to deliver reliable and cost-effective electric vehicles, making them key players in the UAE ’ s transition to a green future.
Help the Middle East improve the industrial chain
Zhang Chenling, executive president of One Road Group, believes that China's electric vehicle industry chain is complete, upstream and downstream batteries, energy storage, infrastructure and other aspects are in the world's leading level, many Middle Eastern countries not only aim to import electric vehicles, but also hope to promote the development of their own electric vehicle industry chain through cooperation with China to expand their local manufacturing capacity, thereby boosting their own industrialization process.
The best way for Chinese auto companies to enter the Middle East market is to choose a reliable local partner, which can make full use of the preferential policies of the local government and effectively deal with some trade barriers.
Cooperation between the two sides can complement each other's advantages and be mutually beneficial and win-win.
In March 2024, Rongding Consulting released a research report that China's foreign direct investment in electric vehicle related industries is shifting from North America to Europe, the Middle East and Asia.
The report predicts that China's overseas investment in electric vehicles will remain strong in 2024, and the Middle East and North Africa will jump to second place.
In June 2024, Egypt ’ s GV Investment Company entered into a cooperation agreement with China FAW Group to begin production of China FAW ’ s affordable electric vehicles in Egypt in the first quarter of 2025. GV Investment aims to localize 65% of vehicle parts and export products to the Middle East, Africa, Europe and Latin America in the next three to five years.
In July 2024, BYD signed an agreement with the Turkish government, BYD will invest $1 billion to build a plant in Turkey with an annual output of 150,000 electric vehicles and set up a research and development center.
The plant is expected to go into production by the end of 2026, providing 5,000 jobs.
In June 2023, during the 10th Entrepreneur Conference of the China-Arab Cooperation Forum, the Saudi Ministry of Investment and Chinese electric vehicle manufacturer China Express signed a $5.6 billion contract to establish a joint venture for research, development, manufacturing and sales of automobiles.
In the same month, NIO Motor announced that it had signed a share subscription agreement with CYVN, the Abu Dhabi sovereign fund, which will make a total strategic investment of about $1.1 billion through the targeted issuance of new and old shares.
Some countries enjoy duty-free access to markets in Europe and North America.
While meeting the local market demand, Chinese electric vehicle companies can also take the Middle East countries as an important partner in developing third-party markets, and radiate broader markets such as Europe and Africa from here.
Cooperation between China and Middle East countries in the field of electric vehicles has broad prospects and great potential.
(Editor: Yang Xi, Chen Jian)
Public Number ： People 's Network Finance
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The UAE aims to mobilize $272 billion in sustainable finance by 2030 and reach net zero by 2050, investing $40 billion in clean energy.

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Content: Sunday 30th April 2023 Abu Dhabi UAE
Prayer times
News Highlights
Today 's Issue
Today 's Issue
Engie Global ’ s Head of Sustainability to Etihad: UAE Pioneers in Adopting Innovative Solutions to Decarbonize Industries
Engie Global ’ s Head of Sustainability to Etihad: UAE Pioneers in Adopting Innovative Solutions to Decarbonize Industries
April 30, 2023 01: 44
Hussam Abdulnabi (Dubai)
Daxita Raj Kumar, Head of Sustainability at ENGIE International, said that many industries in the UAE have shown significant progress towards decarbonization, adopting many innovative solutions to address climate challenges.
Kumar told Al Ittihad that over the past 15 years, the UAE has committed to achieving net zero by 2050, has developed its renewable energy portfolio, invested more than $40 billion in clean energy, and plans to spend an additional $160 billion to achieve a zero-carbon economy in two decades or more. Fossil fuels, economic diversification and climate action.
Kumar also highlighted the UAE ’ s efforts to decarbonize the industrial sector at EGA, which in 2021 switched to hydrogen to reduce carbon emissions and has recently made significant investments to produce solar energy at its facilities in Abu Dhabi.
“Bee ’ ah Waste Management Group in Sharjah converts more than 300,000 tonnes of non-recyclable waste into energy each year away from the landfill and produces around 30MW of clean energy for 28,000 homes, ” she added, noting that with the completion of this facility, Sharjah will also become the first waste-free city in the Middle East.
Kumar said that for the aviation industry, which faces significant challenges to become more environmentally friendly, Etihad Airways has launched its own sustainability programme under which the airline adopts new technologies to use energy such as sustainable alternative fuels (SAFs) on its flights in more efficient ways.
Investment Projects
Kumar revealed that Engie, as part of its strategy to support global economies by providing 80 GW by 2030, aims to accelerate the development of renewable energy infrastructure to support the UAE ’ s net zero emissions targets, with major investment projects likely to soon include green hydrogen, e-fuel cells and local energy distribution systems.
As a responsible investor and provider of low-carbon solutions, the company applies the highest standards of environmental and social governance throughout the project lifecycle.
Best practices
Speaking to Al Ittihad, Kumar explained that the UAE applies the best practices and requirements of environmental and social governance, as well as the commitment of companies to sustainability standards.
Engie is working closely with companies and governments across the region to support industry standards and accelerate the transition to a zero-carbon economy by enhancing energy efficiency and providing greener solutions, she said, noting that the revised roadmap in 2021 reinforces the company ’ s role in providing an affordable, reliable and sustainable transition, helping customers achieve greater efficiency and performance while upgrading low-carbon renewable energy.
Greenhouse gas emissions are increasing, global temperatures continue to rise, and the planet is rapidly approaching critical challenges that will exacerbate the climate problem.
Renewable Energy
Daxita Raj Kumar stressed that countries must produce renewable energy sources and develop green hydrogen technology, especially in terms of storage and transportation solutions, stressing the need to find more environmentally friendly desalination plant projects, especially in the Middle East, where climate change affects water security.
At the same time, Kumar called for more innovations to help companies reduce their energy-related carbon footprint.
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