The Middle East is shifting towards renewable energy, with several countries investing heavily in solar energy as part of their energy transition strategies.

Saudi Arabia has total investments of about 3 billion US dollars in solar projects, with JinkoSolar planning to build 10GW high-efficiency batteries in the country.

The UAE produces 2.6 gigawatts of solar electricity, while Egypt produces 1.9 gigawatts of solar electricity and 1.6 gigawatts of wind electricity.

The Arab countries plan to implement 73 gigawatts of solar and wind projects, with the UAE ranking second in wind and solar electricity production.

Oman has a 607 MW Ibri Solar PV Project, which generates 1,598 GWh of annual power and reduces carbon emissions by 340,000 tons per year.

The UAE has the cheapest solar electricity in the world, along with Saudi Arabia, and Abu Dhabi has a 2 GW single-site solar farm.

Dubai has a 5 GW Mohammed bin Rashid Solar Park, and Egypt has a 1.8 GW Banban solar project, with 1.59 GW of solar power currently installed.

The UAE's Masdar signed a 10 GW solar project with Egypt, and Saudi Arabia's Aqua signed a 10 GW solar project with Egypt.

Egypt aims to generate 42% of its electricity from renewable energy by 2035, and the Benban complex in Egypt is the fourth largest solar power plant in the world.

The Benban project produces 930 megawatt-hours a year, enough to power 420,000 homes, and was funded by the World Bank at a cost of $4 billion.

Morocco targets 52% of electricity from renewable sources by 2030, and the UAE aims to increase its clean energy share to 50% by 2050.

The UAE has invested in the Shams 1 solar thermal plant and the Mohammed bin Rashid Al Maktoum Solar Park, and Morocco has the Noor Ouarzazate complex, the largest concentrated solar power plant.

The MENA region accounted for 36% of global oil production and 20% of global gas production in 2018, but could generate over 60% of its electricity from renewable sources by 2030.

The UAE invests $163.5bn in clean energy projects, including the world's largest solar plant in Al Dhafra, and targets net zero emissions by 2050.

Saudi Arabia announces new renewable energy projects and targets carbon neutrality by 2060, while Egypt hosts the Cop27 conference and aims for 42% renewable energy by 2035.

The UAE has the Mohammed bin Rashid Al Maktoum Solar Park, the world's largest IPP solar site, and Al Dhafra Solar PV Plant is being built with 2 GW capacity.

Saudi Arabia's Neom has a 100% renewable energy city, The Line, and Egypt develops solar energy projects to replace non-renewable energy.

Morocco has huge solar arrays and leads in renewable energy, with Jordan using solar power to generate electricity since 2012.

The Middle East receives 22-26% of global solar radiation, and renewable energy investments are expected to be 34% of electricity investment.

The region may source 10-20% of the global hydrogen market by 2050, with hydrogen potentially generating $120-200 billion in annual revenues by 2050.

Green finance in MENA reached $3.8 billion in 2020, with Turkey, UAE, Egypt, and Saudi Arabia seeing significant green finance growth.

The UAE, Israel, and Jordan collaborate on a solar project, with Jordan receiving water from Israel in exchange for solar power.

Iraq provides solar energy subsidies with loan interest up to 1%, and Jordan offers solar loans up to 20 thousand dinars without interest.

Egypt offers solar loans up to EGP 2 million with a repayment period of seven years, and Kuwait encourages citizens to sell excess electricity to the government.

Lebanon provides solar energy loans ranging from 75 million to 200 million liras, and the Iraqi Central Bank finances solar installation with loans up to one billion dinars.

The Middle East saw 3.2 gigawatts of new renewable capacity added in 2022, with renewable energy capacity in the region expected to reach 45 gigawatts by 2027.

The UAE leads Arab countries in solar energy production, with a current solar capacity of 3.2 GW, and aims to triple its renewable energy capacity to 14 GW by 2030.

Egypt's current solar capacity is 1.59 GW, and the country plans to install 10 GW of solar power with Masdar and Aqua.

The Al Dhafra solar farm in Abu Dhabi has a 2 GW power capacity and reduces carbon emissions by 2.4 million tons per year.

The Mohammed bin Rashid Solar Park in Dubai has a 5 GW power capacity and will reduce 6.5 million tonnes of carbon emissions annually.

The UAE's solar market is expected to grow at a 35% rate until 2029, with the country aiming to invest 150-200 billion dirhams in renewable energy by 2029.

The Middle East region has high solar energy potential, with an average annual solar radiation exceeding 2,000 kilowatt-hours per square meter per year in countries like Saudi Arabia and the UAE.

Solar energy provides just over 2% of the current energy mix in the MENA region, but the region's renewable energy capacity is expected to grow three-fold by 2028.

The Arab Clean Energy Initiative aims for 80 GW of renewable energy capacity by 2030, with Arab countries planning 73 gigawatts of utility-scale solar and wind projects.

The region's renewable energy capacity is expected to increase six-fold in 10 years, with solar energy capacity factor in the region being about 20 percent.

Green hydrogen projects in the region are expected to generate $200 billion in export revenue by 2050, with Oman targeting 1 million tonnes of green hydrogen output per annum by 2030.

The UAE and Saudi Arabia generate the cheapest electricity from solar power, with the cost of solar energy decreasing over the decades in the Middle East.

The MENA region needs a balanced approach to energy deployment for inclusive and sustainable development, with a focus on solar and wind energy.

The region's energy demand is expected to grow 1.8% annually, with fossil fuels currently accounting for 98% of Middle East energy consumption.

However, the Middle East is expected to contribute to global energy security with renewables, with countries like Egypt, Algeria, Libya, and Turkey supplying Europe with energy.

The global renewable energy capacity reached 3,870 GW in 2023, with the Middle East increasing its renewable energy capacity by 16.6% in 2023.

Solar power accounted for 73% of renewable energy growth in 2023, with global solar PV production capacity increasing by 345.5 GW in 2023.

The worldwide solar cell capacity is expected to grow to 3,100 GW by 2040, with the UAE aiming to triple its renewable energy contribution in seven years.

The UAE targets climate neutrality by 2050, with the country's solar capacity expected to play a significant role in achieving this goal.

The Arab countries aim to triple global renewable energy capacity by 2030, with the UAE, Saudi Arabia, and Egypt leading in renewable energy investments.

The Middle East saw a 12.8% increase in renewables in 2022, indicating a growing trend towards renewable energy in the region.

The Arab countries' investments in renewable energy projects are expected to reach $1 trillion by 2040, demonstrating a significant commitment to the energy transition.

Eight Arab countries are expected to lead the trend in renewable energy, with the renewable energy capacity in the Arab region projected to reach 45 gigawatts by 2027.

The Middle East renewable energy market is growing at an annual rate of 13.43% from 2023 to 2028, driven by government incentives and investments in renewable energy.

The Arab Clean Energy Initiative aims to increase renewable energy capacity to 80 GW by 2030, providing a framework for cooperation and investment in the region.

Egypt's Renewable Energy Feed Tariff program, unveiled in September 2014, is an example of a government incentive that has encouraged investment in renewable energy.

The UAE is investing $54.5 billion in renewable energy and has launched a National Hydrogen Strategy, demonstrating its commitment to the energy transition.

Oman targets 16% of electricity from renewables by 2025 and 30% by 2030, with the government implementing policies to stimulate green hydrogen development.

Saudi Arabia leads the MENA region in renewables capacity growth, with the cost of solar power in the country being the cheapest in the world.

The UAE offers funding for innovative renewable energy projects, and the government of Jordan provides financial facilities for investors in renewable energy.

Gulf countries offer incentives for green hydrogen production, and governments finance investments in the renewable energy sector, encouraging the growth of the industry.

The UAE aims to achieve net zero emissions by 2050, and Saudi Arabia targets carbon neutrality by 2060, with both countries investing heavily in renewable energy.

Egypt aims to generate 42% of electricity from renewable energy by 2035, and the country has made significant progress in developing its renewable energy sector.

The Middle East countries promote renewable energy development,

The Middle East is shifting towards renewable energy, with several countries investing heavily in solar energy as part of their energy transition strategies.

Title:

Content: Land solar energy investment set off the "Middle East fever" total amount of nearly 100 billion
China's new energy investment set off the "Middle East fever", solar industry giants Jingke Energy, TCL Central almost at the same time announced cooperation with Saudi Arabia (Saudi Arabia) sovereign fund solar projects, a total investment of about 3 billion US dollars (about NT $97.5 billion).
In addition, inverter giant Sunlight Power announced the successful signing of the world's largest energy storage project with Saudi company ALGIHAZ, with a capacity of up to 7.8GWh.
Analysts pointed out that the above case means that in addition to the continued investment of Middle East funds in the mainland, in the solar industry is subject to overcapacity criticism, mainland funds choose to go to the Middle East to develop the solar industry.
Founded in 1971, PIF is one of the largest and most influential sovereign renewable wealth funds in the world. Its wholly-owned subsidiary, RELC, is one of the largest and most influential renewable wealth funds in the world. and a leader in green energy technology manufacturing.
Founded in 2021 by two major conglomerates, Abunayyan and Al Muhaidib, VI aims to build a new energy industry chain manufacturing capacity in Saudi Arabia to meet the huge demand for new energy in the Middle East and the world, and is an investor and developer of green energy industrial projects to support the localization of supply chains.
Among them, JinkoSolar ’ s joint venture company plans to set up a joint venture company in Saudi Arabia to build 10GW of high-efficiency batteries and components, with a total investment of 7.157 billion yuan.
JinkoSolar has a market share of more than 50% in the Middle East in 2023, including more than 70% in Saudi Arabia.
The joint venture company of TCL Central has an annual output of 20 GW of solar wafer projects in Saudi Arabia, with a total investment of about RMB15.1 billion.
It is also TCL ’ s first overseas solar wafer factory in Central.
After the project is launched, it will become the first solar wafer project in Saudi Arabia and the largest wafer factory in the world.
Vision Group ’ s joint venture will manufacture wind turbines and critical components locally. Helping Saudi wind power value chain achieve 75% localized production by 2030.
And Vision is the global wind power leader, overseas wind orders for two consecutive years accounted for 70% of the orders of mainland China's wind power enterprises.
At the same time, Sunlight Power also announced three sites in the Middle East energy storage project, in the Najran, Madaya and Khamis Mushait regions of Saudi Arabia, with deliveries starting in 2024 and full capacity grid operation in 2025.
However, Sun Power did not disclose the contract amount in the announcement.
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Saudi Arabia has total investments of about 3 billion US dollars in solar projects, with JinkoSolar planning to build 10GW high-efficiency batteries in the country.

The UAE produces 2.6 gigawatts of solar electricity, while Egypt produces 1.9 gigawatts of solar electricity and 1.6 gigawatts of wind electricity.

Title:

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

The Arab countries plan to implement 73 gigawatts of solar and wind projects, with the UAE ranking second in wind and solar electricity production.

Oman has a 607 MW Ibri Solar PV Project, which generates 1,598 GWh of annual power and reduces carbon emissions by 340,000 tons per year.

Title:

Content: To enable Oman Vision 2040, PowerChina sets new standards in renewable energy through the Oman Ibri Solar PV Project
BEIJING, Dec. 22, 2022 / PRNewswire / — Report from haiwainet.cn:
According to a recent World Government Summit report, Oman, Jordan, Tunisia, the United Arab Emirates, Algeria and Morocco have topped the list in achieving 60% of the 2030 Sustainable Development Goals.
Oman is promoting global cooperation in renewable energy following the launch of Oman Vision 2040.
In January 2022, Oman ’ s largest renewable energy project, the Oman Ibri Solar PV Project, implemented by PowerChina, was completed.
As the largest solar PV project in Oman at present, it has a installed capacity of 607 MW and annual power generation of 1,598 GWh, which could cover the annual electricity consumption of 50,000 local households.
It is important to secure energy supply and diversify Oman ’ s energy structure.
The construction of a large-scale photovoltaic power plant in the desert needs to take into account not only summer extremes, but also complex geological conditions and dust storm weather.
During the storm, a thick layer of dust will accumulate on the photovoltaic panels, reducing the efficiency of power generation.
To deal with the dust storm, the project team made a groundbreaking attempt – installing intelligent cleaning robots on the panels.
The cleaning robots will automatically clean the dust covered on the panels.
This project combines photoelectric tracking system and automatic cleaning system for the first time, greatly improves power generation efficiency and reduces operation and maintenance costs, and sets new standards for large-scale power plant operation and maintenance in the Middle East.
PowerChina has obtained 41 patents for inventions and utility models, completed one study, and published 8 scientific reports through this project.
At the same time, the clean energy produced by the Oman Ibri solar PV project is expected to reduce carbon emissions by 340,000 tons per year, contributing positively to addressing climate change and achieving carbon neutrality.

The UAE has the cheapest solar electricity in the world, along with Saudi Arabia, and Abu Dhabi has a 2 GW single-site solar farm.

Title:

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

Dubai has a 5 GW Mohammed bin Rashid Solar Park, and Egypt has a 1.8 GW Banban solar project, with 1.59 GW of solar power currently installed.

The UAE's Masdar signed a 10 GW solar project with Egypt, and Saudi Arabia's Aqua signed a 10 GW solar project with Egypt.

Egypt aims to generate 42% of its electricity from renewable energy by 2035, and the Benban complex in Egypt is the fourth largest solar power plant in the world.

Title:

Content: Solar power in North Africa is a green dream that needs government support
Announcement
Cairo (AFP)
North Africa ’ s year-round sunshine presents a huge opportunity to harness this amount of solar energy, but the scale of investment and government support required for large-scale projects is challenging countries in economic straits.
Although the region has some of the largest projects in the world, renewable energy entrepreneurs believe that the focus should be on the community level, helping entire villages tap out of local grids and without using diesel fuel.
Egypt, the most populous Arab country with more than 100 million people, has put solar energy at the top of its priorities and aims to generate about 42% of its electricity from renewable energy by 2035.
According to official statistics, the percentage of electricity generation from renewable energy sources in Egypt reached 9% until 2016.
In the Western Desert, about 40 kilometers (25 miles) north of the southern city of Aswan, the Benban complex was built to generate electricity with solar energy.
The massive Benban project, which can be seen from outer space and funded by the World Bank at a cost of $4 billion, is the fourth largest solar power plant in the world and covers an area of more than 37 square kilometers.
Benban, which was connected to Egypt ’ s national electricity grid in 2019, has six million solar panels and currently produces 930 megawatt-hours a year, enough to power 420,000 homes, according to the United Nations.
- Incentives.
Experts say the Egyptian government needs to offer incentives if it expects to accelerate solar projects, especially since the number of consumers who have the means or space to switch to solar energy to meet household needs is not large.
Mohammed Abdel Raouf, an expert in green economics in the region, told AFP: “It can be difficult to install solar panels in Cairo, because you need a lot of space above buildings and they don ’ t cover all your electricity needs, such as running an air conditioner during the summer. ”
He adds that tourist resorts on the coasts of the Red Sea and the Mediterranean as well as the countryside may be the most suitable soil for applying this shift in reliance on solar energy.
Abdel Rauf believes that “the state needs to motivate the average consumer, ” noting that one house in Cairo costs“ about 60,000 pounds (about $3,800) to switch to solar energy. ”
"Why invest in expensive environmentally-friendly technology?"
The state really needs to make the initiative attractive. ”
According to the International Energy Agency, over the past decade, North African countries have increased their renewable energy production by 40%, but this has not reduced fossil fuel use.
In Algeria, an oil-rich country that enjoys about 3,600 hours of sun a year, renewable energy accounts for only 1.8% of the country ’ s consumption.
- "Scary projects" -
In Morocco, particularly in the city of Ouarzazate, the giant Noor solar power complex, with four power plants, embodies the green state strategy.
The project, which is the largest for multi-technology solar power plants in the world, has a capacity of 530 megawatts.
But Rabat is selling its green power at a loss, with generation costs double the price it sells to the national grid.
Energy management expert Saeed Jamra told AFP: “From the beginning it was clear that the strategy was unbalanced.
The mistake was the desire to invest in huge projects that are difficult to finance. ”
To date, the Moroccan Agency for Sustainable Energy, which manages the Noor complex and is privately owned and publicly funded, owes more than €85 million.
Ahmed Zahran, CEO of Cairo-based solar startup Karam, said it was time to move away from the model of selling electricity to the state and toward a public-private partnership like Benban.
"The business model is very offensive and not comprehensive.
Companies are focused on selling electricity to one party (the state) and are not interested in participating in the infrastructure of the countries in which they operate. ”
“So companies are always seen as opportunistic investors trying to get specific contracts, so it ’ s better to work with the government. ”
Zahran, the first private company to obtain a power distribution license in Egypt, is designing solar-powered buildings and water pumping systems to help villages beyond national grids and without using diesel fuel.
“We realized that our future is not in being a solar developer but in being a utility-scale solar company.
We are working on the entire infrastructure from the construction of the power plant, the construction of the distribution network..
everything. "
On its website, Zahran says it has allowed the use of 2.3 million liters of diesel fuel to produce 10,000 tons of CO2 by installing more than 71 megawatts of solar power.

The Benban project produces 930 megawatt-hours a year, enough to power 420,000 homes, and was funded by the World Bank at a cost of $4 billion.

Morocco targets 52% of electricity from renewable sources by 2030, and the UAE aims to increase its clean energy share to 50% by 2050.

Title:

Content: Fossil fuels, which have powered the industrial growth and development of civilisations for centuries, are facing a looming deadline of depletion. Moreover, they have caused severe environmental and social problems, such as climate change, conflicts, and pollution. The need for alternative and sustainable energy sources is clear and urgent. However, the transition to a post-fossil fuel era is not easy or straightforward. It requires innovation, investment, cooperation, and vision.

This article explores the challenges and opportunities of global energy transformation, focusing on the dual nature of fossil fuels, the countdown to their exhaustion, and the promise of renewable energy sources. It also highlights the progress and potential of some countries in the Middle East and North Africa (MENA) region, which is one of the most dependent regions on fossil fuels in the world.

Fossil Fuels: A Double-Edged Sword

Fossil fuels, comprising oil, coal, and natural gas, are ancient energy sources that have been central to the development of various industries and sectors. They have enhanced transportation, manufacturing, agriculture, and electricity generation. They have catalysed global trade, commerce, and innovation, elevating the quality of life for millions.

However, this ascent has been coupled with profound challenges. Fossil fuels have been a source of geopolitical strife, epitomised by wars and conflicts over their control and distribution. They have also exacerbated environmental issues, such as greenhouse gas emissions, global warming, and climate change. Incidents like oil spills, gas leaks, and fracking have inflicted severe damage on ecosystems and public health.

The Countdown to Depletion

The finite and non-renewable nature of fossil fuels leaves humanity facing a daunting deadline. Predicting the exact exhaustion of these resources is a complex endeavour, influenced by reserves, consumption rates, technological advancements, and price fluctuations. Nonetheless, projections based on current data paint a concerning picture.

According to Octopus Energy, the year 2060 may mark the twilight of fossil fuels, based on current consumption and reserve estimates. In 2020, global oil production reached 91.7 million barrels per day (b/d), with key players like the United States, Saudi Arabia, and Russia at the forefront. Simultaneously, natural gas production stood at 3.94 trillion cubic meters (bcm). Although the Covid-19 pandemic temporarily curtailed production, a resurgence is anticipated. In contrast, natural gas consumption steadily rises by over 3% each year.

Should additional oil reserves remain elusive, known deposits could be depleted by 2052. The stark reality is that demand for oil has surged, nearly doubling the average annual rate observed over the preceding decade in 2018.

Toward a Sustainable Energy Paradigm

The global imperative for alternative energy sources is clear. Sustainable options, even if not entirely devoid of environmental impact, have become a linchpin of energy discussions. The quest for sustainability is no longer optional; it is fundamental to securing a prosperous future.

Embracing alternative and sustainable energy solutions is our paramount responsibility. The adverse consequences of persisting with fossil fuels are increasingly undeniable. Furthermore, incidents such as oil spills, gas leaks, and fracking have grievously scarred ecosystems and human health.

The geopolitical maelstrom surrounding fossil fuels is a testament to their strategic importance. By reducing our dependence on these finite resources, we can contribute to global stability and peace.

The Promise of Sustainable Energy

Investing in sustainable energy is not merely an ecological commitment; it is a strategic move to safeguard long-term energy security. Renewable sources like solar and wind power do not suffer the same spectre of depletion as fossil fuels, offering a reliable and sustainable energy future. Moreover, technology’s relentless march is enhancing the efficiency and cost-effectiveness of these alternatives, ensuring a seamless transition.

In this era of unprecedented global challenges, the unsustainable trajectory of fossil fuels is no longer tenable. Transitioning to renewable and sustainable energy sources is both a moral imperative and an economic necessity. As we confront the relentless march of climate change, endeavouring to secure long-term energy stability and foster global peace, embracing this transformation is our only viable path toward a sustainable and prosperous future. It is a journey we must embark upon with unwavering determination and foresight.

The MENA Region: The abundance of wisdom

The MENA region stands as an interesting case study for global energy transformation. The region is one of the most dependent regions on fossil fuels in the world. According to the World Bank, the region accounted for 36% of the global oil production and 20% of the global gas production in 2018. However, the region also faces many challenges and risks related to its reliance on fossil fuels, such as price volatility, environmental degradation, social unrest, and geopolitical conflicts.

Therefore, some countries in the region have started to prepare for the transition to a post-fossil fuel era by diversifying their economies, investing in renewable energy sources, and promoting innovation and sustainability. According to a report by the International Renewable Energy Agency (IRENA), the MENA region has a huge potential for renewable energy development, especially solar and wind power. The report estimates that the region could generate more than 60% of its total electricity from renewable sources by 2030.

Some of the countries that have made significant progress in this field are:

• UAE: The UAE has been a leader in innovation and sustainability in the region, with a vision of becoming a global hub for green economy and clean energy. The UAE has set a target of increasing its share of clean energy to 50% by 2050. The UAE has invested in various renewable energy projects, such as the Shams 1 solar thermal plant, which is one of the largest of its kind in the world, and the Mohammed bin Rashid Al Maktoum Solar Park, which is planned to be the largest single-site solar park in the world by 2030. The UAE is also home to Masdar City, which is a planned city that aims to be one of the most sustainable cities in the world. Also, UAE is one of the 10 largest oil producing countries with a proven reserves, according to BP statistical reviews, of 100 billion barrels.

• Morocco: Morocco has been a pioneer in renewable energy development in the region, with a target of achieving 52% of its electricity from renewable sources by 2030. Morocco has invested heavily in solar power projects, such as the Noor Ouarzazate complex, which is the largest concentrated solar power plant in the world. Morocco also has a strong wind power sector, with a capacity of over 1.2 gigawatts (GW) as of 2019.

• Egypt: Egypt has also been pursuing an ambitious renewable energy strategy, with a goal of reaching 42% of its electricity from renewable sources by 2035. Egypt has a large potential for solar and wind power, especially in the Sinai Peninsula and the Red Sea coast. Egypt has launched several large-scale projects, such as the Benban Solar Park, which is expected to be the largest solar photovoltaic (PV) plant in the world when completed, and the Zafarana Wind Farm, which is one of the largest wind farms in Africa.

These are some examples of countries in the MENA region that are prepared for after fossil fuels era. However, there are still many challenges and barriers that need to be overcome, such as policy and regulatory frameworks, financing and investment mechanisms, public awareness and participation, and regional cooperation and integration.

The world is at a crossroads in its energy choices. Fossil fuels have been instrumental in driving industrial growth and development, but they have also caused severe environmental problems. Their finite nature also poses a threat to long-term energy security. The need for alternative and sustainable energy sources is clear and urgent.

Renewable energy sources offer a promising solution to this challenge. They are abundant, reliable, and sustainable. They can reduce greenhouse gas emissions, mitigate climate change impacts, and foster global peace. They can also create new opportunities for economic growth, innovation, and social welfare.

— Dr Abdullah Belhaif Al Nuaimi is a former UAE minister of Infrastructure Development and for Climate Change and Environment

The UAE has invested in the Shams 1 solar thermal plant and the Mohammed bin Rashid Al Maktoum Solar Park, and Morocco has the Noor Ouarzazate complex, the largest concentrated solar power plant.

The MENA region accounted for 36% of global oil production and 20% of global gas production in 2018, but could generate over 60% of its electricity from renewable sources by 2030.

The UAE invests $163.5bn in clean energy projects, including the world's largest solar plant in Al Dhafra, and targets net zero emissions by 2050.

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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Saudi Arabia announces new renewable energy projects and targets carbon neutrality by 2060, while Egypt hosts the Cop27 conference and aims for 42% renewable energy by 2035.

The UAE has the Mohammed bin Rashid Al Maktoum Solar Park, the world's largest IPP solar site, and Al Dhafra Solar PV Plant is being built with 2 GW capacity.

Title:

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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Saudi Arabia's Neom has a 100% renewable energy city, The Line, and Egypt develops solar energy projects to replace non-renewable energy.

Morocco has huge solar arrays and leads in renewable energy, with Jordan using solar power to generate electricity since 2012.

The Middle East receives 22-26% of global solar radiation, and renewable energy investments are expected to be 34% of electricity investment.

Title:

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

The region may source 10-20% of the global hydrogen market by 2050, with hydrogen potentially generating $120-200 billion in annual revenues by 2050.

Green finance in MENA reached $3.8 billion in 2020, with Turkey, UAE, Egypt, and Saudi Arabia seeing significant green finance growth.

The UAE, Israel, and Jordan collaborate on a solar project, with Jordan receiving water from Israel in exchange for solar power.

Title:

Content: The UAE, Israel and Jordan sign a memorandum of understanding for a solar energy project in the Kingdom
ECONOMY
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DUBAI, United Arab Emirates (CNN) — John Kerry, US President Joe Biden ’ s climate envoy, is leading efforts to sign an agreement between the UAE, Israel and Jordan to build a large solar power project on the kingdom ’ s soil.
Shaked Eliyahu, a spokeswoman for Israeli Energy Minister Karen Alharar, told CNN that the memorandum of understanding would be signed on Monday, which would seek to work toward “reciprocal actions to deal with the climate crisis. ”
Jordan is one of the most water-stressed countries in the world, while a source involved in the memo said Israel is looking for open spaces and other solutions to produce and store solar energy.
A Jordanian source told CNN that what will be signed is a declaration on something called the Prosperity Project, which consists of two complementary and interdependent elements.
“Solar power for Israel and water for Jordan in return, but it ’ s only a declaration at this stage and not an agreement. ”

Iraq provides solar energy subsidies with loan interest up to 1%, and Jordan offers solar loans up to 20 thousand dinars without interest.

Title:

Content: Among them Iraq.
5 Arab Countries Leading Solar Energy Support Programs
2023-11-07 | 02: 22
Alsumaria News – Economy
Solar subsidy and loan programs in Arab countries continue at a time when the need for alternative energy sources is acute, as the effects of climate change intensify, and the global energy crisis that began with the Russian invasion of Ukraine on February 24, 2022 intensifies.
Solar energy in Iraq, Jordan, Lebanon, Egypt and Kuwait receives official support, either through direct legislation approved by the parliaments of these countries, or through loans made available by government and official banks there, or through national and national projects provided by the ministries of energy and electricity, according to the specialized energy platform.
In the coming years, support for solar energy in Arab countries is expected to gain momentum, with many declaring their commitment to achieving carbon neutrality by mid-century and plans to increase the contribution of renewable energy to their electricity mix by 2050.
* Support for solar energy in Jordan
The most prominent support received by solar energy in the Arab countries is that provided by Jordan, through a range of programs supervised by the Ministry of Energy and Mineral Resources, as the solar loan project in Jordan witnessed a new step on Sunday, October 29, as part of efforts to motivate citizens to adopt clean energy.
The Agricultural Credit Corporation signed an agreement with the Renewable Energy Promotion Fund to support the second phase of the program to install solar cell systems for farmers to cover the interest on the loans, according to a press release.
* Solar Loans in Jordan
The Minister of Agriculture and Chairman of the Agricultural Lending Corporation, Khalid Al-Hanifat, said that the agreement will reduce the cost of production for farmers, as it targets all animal and plant agricultural activities, as it covers beneficiaries with a ceiling of 20 thousand dinars (28.1 thousand US dollars) without interest.
At the same time, Jordan is preparing for the third phase of the strongest support program witnessed by solar energy in the Arab countries, the installation of solar cells in homes, the second phase of which ended in July 2023, according to information monitored by the specialized energy platform.
This program aims to support the use of solar energy in Jordanian homes, as well as the installation of solar heaters, which will reduce the cost of electricity for citizens, while reducing the energy import bill for the state.
* Solar Loans in Lebanon
As part of the efforts to support solar energy in the Arab countries, the Lebanese effort, which aims to alleviate the energy crisis, is highlighted through an important program to grant solar energy loans, which are an appropriate and sustainable solution to overcome the energy threat, as described by the Lebanese government a year ago.
The installation of solar energy in the homes of Lebanese will solve the crisis of high electricity bills, as these loans are provided to the low- and middle-income by the initiative "Loans to the low- and middle-income", in cooperation with the Lebanese Center for Energy Conservation.
Loans for the installation of solar energy systems and plants in Lebanon range from 75 million to 200 million liras ($2,590 to $6,900) per person, up to a maximum of 80% of the project cost, and at an interest rate of 4.99% per annum, depending on the specialized energy platform.
* Information on Solar Loans in Lebanon
It is noteworthy that the solar energy market in the Arab countries is witnessing increasing growth, especially in Lebanon, which, despite its major crisis, witnessed during 2020 about 313 projects authorized, with a capacity of 14 MW, before this number increased, and the country records 662 applications for the installation of solar plants, during the period from October 2021 to March 2022.
According to the Lebanese Center for Energy Conservation, the installation of solar power plants in Lebanese homes will save citizens the value of high bills, which makes them able to save the value of the loan within two to three years, especially since the repayment is limited to paper lira only.
Solar energy in Egypt
In August 2023, the Committee on Energy and Environment in the Egyptian House of Representatives set a number of rules to increase the number of small household units to consume electricity from solar energy, as part of its recommendations on the Economic and Social Development Plan for 2023-2024.
The Committee stressed the need to develop alternative renewable sources of energy, to take action to mitigate and adapt to climate change and its consequences, while working to reduce greenhouse gas emissions, and to accelerate the transition to low-carbon vehicles.
Solar energy in Egypt
Prior to these directives, Egypt witnessed one of the strongest solar energy subsidy programs in the Arab countries, with four banks, including government banks, providing loans of large amounts to support the installation of solar energy systems and their stations for homes, through various repayment programs.
HSBC Egypt, one of the largest solar loans in the Arab world, is offering EGP 2 million ($64,675) with a repayment period of about seven years, while QNB is offering a loan of EGP 400,000 ($12,930) for seven years.
Misr State Bank also offers a financing program worth up to EGP 500,000 ($16,168) and a repayment period of up to 10 years, while the Commercial International Bank (CIB) offers a loan worth EGP 350,000 ($11,300) with a repayment period of 5 years.
* Solar energy in Kuwait
As the State of Kuwait prepares to complete new phases of the Shaqaya CSP project, the State continues to encourage citizens to use solar energy in their homes, as part of its drive to achieve carbon neutrality and reduce emissions by mid-century.
The State of Kuwait adopts a unique approach that distinguishes it from all consumers of solar energy in the Arab countries, as it encourages citizens to sell electricity in excess of their consumption to the government, generated from solar panels installed on rooftops.
* Solar energy in Kuwait
According to an analysis by Mordor Intelligence, seen by the specialized energy platform, the solar energy market in Kuwait is expected to register a compound annual growth rate of more than 7%, especially as this market is achieving a significant recovery, despite the damage caused by the outbreak of the Coronavirus three years ago.
Despite this, Kuwait ’ s solar market is not growing in line with expectations, as initial spending is large, and there is a lack of multiple government programs during the forecast period, but over time internal subsidies continue, leaving the country with the most important solar projects in the Arab countries.
At the same time, the Kuwaiti government is working to provide solar energy to citizens by building huge power plants from an inexhaustible renewable source, especially as Kuwait enjoys a very high brightness, which qualifies it to enter this market from its widest doors.
Iraq to finance solar installation
As Iraq faces one of the difficult electricity crises, caused by the lack of Iranian gas supplies, and seeks alternative sources, both external (such as Qatari gas) and internal (such as the tendency to burn gas associated with electricity generation), Baghdad continues to provide one of the most important forms of solar energy subsidies in Arab countries.
In January 2022, the Central Bank of Iraq issued controls to finance electricity generation systems from renewable energy, as the governor of the bank signed the first circular that allows citizens and institutions to buy systems and power plants from solar energy.
Solar energy in Iraq
This initiative is in line with the State ’ s commitment to the decisions of the Paris Climate Conference, as the interest on loans provided to citizens to install solar power plants did not exceed 1%.
While the value of loans ranged between 7 million Iraqi dinars (4 thousand and 800 dollars) for stations 3 kilowatt hours, and one billion dinars (685 thousand dollars) for large projects in residential squares, according to the website of the Central Bank of Iraq.
Source: Energy Platform
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Egypt offers solar loans up to EGP 2 million with a repayment period of seven years, and Kuwait encourages citizens to sell excess electricity to the government.

Lebanon provides solar energy loans ranging from 75 million to 200 million liras, and the Iraqi Central Bank finances solar installation with loans up to one billion dinars.

The Middle East saw 3.2 gigawatts of new renewable capacity added in 2022, with renewable energy capacity in the region expected to reach 45 gigawatts by 2027.

Title:

Content: Sunday, 24 September 2023 02: 03 GMT
2030 Arab Goal to Advance Renewable Energy Capabilities Globally
(MENAFN- Al-Bayan) $(resize) .css ('font-size', newFontSize); return false;});});
Several Arab countries are accelerating to keep pace with the international aspiration to achieve the goal of tripling global renewable energy capacity by 2030, which is receiving widespread attention, amid various plans and strategies at national levels in many countries.
The Arab countries that are likely to play the largest role in this regard, according to industry experts, are the UAE, Saudi Arabia, Oman, Kuwait, Egypt, Jordan, Algeria and Morocco, by injecting more investments into this vital and promising sector.
During the recent G20 summit in New Delhi in September, G20 leaders expressed their support for all efforts to increase renewable energy capacity and pledged to accelerate measures to address environmental crises and challenges.
With this growing international interest in the energy transition, the plans are facing many challenges, including (but not limited to) access to finance, especially for low- and middle-income countries, with significant investment required over the coming years.
(Al-Bayan), a group of American academics and specialists in the renewable energy sector were surveyed about the main opportunities and challenges on the way to increase the desired capacity, the investments required to achieve that goal, and the extent of its expected environmental and economic repercussions.
Huge spikes.
Achieving the ambitious goal of doubling global renewable energy capacity in the near term will be reflected concretely in several contexts, explains Gregory Nemet, a specialist in the analysis of international energy systems and environmental policies at the University of Wisconsin. By 2030, it will deliver significant benefits in terms of jobs, economic development, and improved air quality, as well as putting the world on the path to addressing climate change in the long term.
“The costs of renewable energy, especially solar and wind, have dropped dramatically over the last 10 years, and most experts expect them to continue to fall, ” says Nemet, explaining that a clean, affordable source of energy creates huge opportunities, allowing global renewable energy capacity to be tripled by taking full advantage of it.
According to Nemet, the 3-fold increase also presents challenges, such as “access to finance for low- and middle-income countries, and investments in electricity grids to accommodate this growth ”, stressing that“ challenges can be overcome through sustained efforts and supportive policies, as we have seen many examples in the recent past. ” A sign of broad international cooperation is required in this regard.
Last year, renewable energy capacity (globally) increased by 9.6 percent to 3,372 gigawatts, an increase of a record 295 gigawatts, despite global uncertainty in light of geopolitical developments and the Ukrainian war, according to data published by the International Renewable Energy Agency (IRENA) on March 22.
Almost half of the new capacity from renewable energy in Asia has been added, with China contributing more than 141 gigawatts to the new capacity of the entire continent.
Renewable energy sources in Europe and the United States grew by 57.3 gigawatts and 29.1 gigawatts respectively.
African capacity increased slightly by 2.7 gigawatts.
According to IRENA data, although hydropower accounts for the largest share of total global renewable energy capacity at 1,250 gigawatts, solar and wind power continue to dominate new capacity, contributing 90% of total capacity last year.
Solar capacity came first with an increase of 22%, followed by wind power with an increase of 9%.
Policies and Incentives
University of Massachusetts academic David Turcotte, whose research interests include climate change and environmental justice, believes that there are many opportunities in the context of increasing global renewable energy capacity, due to increases in oil prices as a result of the Ukrainian crisis, which makes renewable energy sources more cost-effective, as well as worsening economic and human costs. Recurrent, more severe climate change disasters.
“Many developed countries have expanded policies and incentives to encourage increased capacity to produce renewable energy.
However, we still face a lot of challenges […]
That threatens to derail efforts to increase renewable energy capacity, and the transition to a clean energy economy.
Among these challenges is the lack of adequate funding to support increases in renewable energy capacity in developing countries, a challenge he described as “serious. ”
While international efforts are accelerating to target investments in the context of increasing global renewable energy capacity, those investments are still below the 1.5 ° C target.
This is shown by data from IRENA and the Climate Policy Initiative (CPI) released in February, which estimate the total volume of investments in renewable energy sectors during 2022 at $499 billion, up from $430 billion in the previous year 2021.
Developments in the world over the past year, especially with the start of the Russian military operation in Ukraine in February 2022, have also encouraged many countries to move more towards renewable energy sources, to overcome the energy crisis caused by the consequences of the war, in the interest of the desired goal of increasing capacity.
Required investments
John Hall, Professor of Mechanical Engineering at the Center for Energy Production and Infrastructure, University of North Carolina, United States, notes that “the goal of tripling global renewable energy capacity by 2030 is a challenge, and achieving the goal requires an intensive global strategy, focused on significant financial investment, technological innovation targeting these communities, inclusive policies, and collaborative efforts. ”
Speaking with Al-Bayan, he stressed that community participation and infrastructure development in underserved areas should be central to the strategy, leading not only to the promotion of the energy transition, but also to economic upgrading.
The International Renewable Energy Agency (IRENA) estimates that $4 trillion per year will be required in the clean energy sector until 2030 to strengthen global capacity in this regard.
Logistical challenges
Warren Mabey, an academic at Queen ’ s University who specialises in energy policy and natural resource management, told Al Bayan that “it is technically possible to triple global renewable energy capacity over the next six years, and this will put enormous pressure on the global supply chains that support the sector. and manufactured goods, necessary for the transformation process).
Mabe believes that “the cost will be enormous, and the logistical challenge may be too great to overcome ”, stressing the need for“ strong and consistent leadership from countries around the world to achieve this. ”
Arabic Steps
At the Arab level, five Arab countries (Egypt, Morocco, Oman, Saudi Arabia and the United Arab Emirates) are expected to account for about 72% of the region ’ s total growth in renewable energy, according to the Organization of Arab Petroleum Exporting Countries (OAPEC), which expects renewable energy capacity to reach 45 gigawatts by 2027, an increase of 3 times. Compared to the last five years.
The International Renewable Energy Agency (IRENA) estimates that in 2022, the Middle East saw the highest increase in renewables ever, with 3.2 gigawatts of new capacity added last year, a 12.8 percent increase over the previous year.
According to the Arab Renewable Energy Authority (AREA), the volume of investments by Arab countries in renewable energy projects is expected to reach $1 trillion by 2040, in light of the interest of Arab governments in this file, to achieve global environmental goals.
A Great Leap in 10 Years
According to the current data, the renewable energy sector in the region is expected to witness a huge leap in the next 10 years, at a time when eight Arab countries are leading this trend, according to the researcher in international relations and political economy, Abu Bakr al-Deeb, adviser to the Arab Center for Studies and Research, who tells Al-Bayan that the countries strongly candidate to move in this direction are:, Kuwait, Egypt, Jordan, Algeria and Morocco).
Aldeeb also cites the volume of electricity generated from renewable sources in the Middle East and Arab countries, which is expected to increase six-fold in 10 years through heavy reliance on solar photovoltaic energy, noting that the Arab region has “great potential ” to help launch major projects to produce energy from the sun. And wind, among these possibilities or advantages (the right climate, the bright sun most days of the year, as well as human expertise, and financial capabilities also for some countries).
The UAE is at the top of the list of Arab countries that produce electricity from solar energy, while Egypt is the largest country in the Arab world in terms of electricity production from wind energy, according to a report issued by (Global Energy Monitor), which Al-Deeb cites when explaining the progress made by some Arab countries in this sector, The UAE, Egypt, Jordan and Morocco are among the first Arab countries to establish solar and wind power plants.
According to the report, renewable power plant projects for Arab countries are likely to achieve 92% of the region ’ s total target by 2030 when completed.
One of the most reliable projects in this regard is the Green Hydrogen projects, through which the Middle East is seeking global leadership, with export revenues likely to reach $200 billion by 2050 for the Gulf countries, according to a study by Dii Desert Energy.
In this context, Al-Deeb notes the abundance of renewable energy resources, clean hydrogen, human expertise, capital, and their geographical proximity to the European market, all of which provide them with important and growing opportunities.
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The UAE leads Arab countries in solar energy production, with a current solar capacity of 3.2 GW, and aims to triple its renewable energy capacity to 14 GW by 2030.

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

Egypt's current solar capacity is 1.59 GW, and the country plans to install 10 GW of solar power with Masdar and Aqua.

The Al Dhafra solar farm in Abu Dhabi has a 2 GW power capacity and reduces carbon emissions by 2.4 million tons per year.

The Mohammed bin Rashid Solar Park in Dubai has a 5 GW power capacity and will reduce 6.5 million tonnes of carbon emissions annually.

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Content: UAE strengthens its position in the solar energy sector
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Solar investments in the UAE have huge potential, driven by government subsidies, large government investments, supportive policies, an innovation-friendly environment, commitment to sustainability goals, increased energy demand and lower technology costs.
The UAE is a pioneer in the adoption of renewable energy sources and strives to make solar energy the cornerstone of the national energy system, with many global reports indicating that the UAE is one of the fastest countries in the world in the adoption of solar energy.
And in this regard...
A report by Mordor Intelligence International, for research and studies, predicted that the size of the solar energy market in the UAE will grow at a compound annual growth rate of more than 35% during the coming period, specifically until 2029.
The report stressed the importance of the UAE Energy Strategy, which aims to triple the contribution of renewable energy over the next seven years, and to inject national investments between 150 and 200 billion dirhams during the same period, in order to reach the targets of climate neutrality 2050.
He also predicted that the transformation in the field of renewable energy, specifically solar energy, which is a key player in the energy transformation strategy, will create many opportunities for the solar market in the UAE in the future.
According to another report from Mordor Intelligence, the global solar market is expected to grow at a rate of only 29% between 2024 and 2029, thus surpassing the global average.
The UAE has emerged as a major player in the global solar market in recent years, and has leapfrogged production rates over the past 10 years: from just about 12 megawatts of solar capacity in 2012, it has raised the figure at a staggering rate to more than 3,040 megawatts, according to the Energy Institute.
In 2022, the UAE emerged as a major player in the global solar energy market, ranking second in the world in terms of per capita solar energy consumption, according to the Statutory Review of World Energy.
S & P reported that the proliferation of solar PV as an abundant, low-cost and rapidly deployable technology has overshadowed the potential of wind in the Middle East, pointing to the UAE ’ s role in the region in the field of solar energy and the transition to clean energy.
Masdar is involved in the development of a number of key projects in the UAE, including Shams, the region ’ s first concentrated solar power plant, which was inaugurated in 2013.
It has also invested in a range of world-leading solar power plants, including the 2 GW Al Dhafra plant, the world ’ s largest single-site solar PV plant in operation.
Masdar has developed the third phase of the Mohammed bin Rashid Al Maktoum Solar Park in Dubai and won the bid to develop the sixth phase of the project, which will have a total production capacity of 5 gigawatts and will be the largest in the world.
The Mohammed bin Rashid Al Maktoum Solar Park, implemented by DEWA, is the largest single-site solar park in the world under the IPP system and will have a production capacity of 5,000 megawatts by 2030, with a total investment of AED 50 billion.
When completed, the complex will reduce more than 6.5 million tonnes of carbon emissions annually.
At the end of March this year, DEWA ’ s production capacity from the complex reached 2,627 megawatts.
The fourth phase of the Mohammed bin Rashid Al Maktoum Solar Park uses three common technologies to produce clean energy: a 600 MW parabolic trough system, a 100 MW CSP tower and 250 MW photovoltaic solar panels.
The Mohammed bin Rashid Al Maktoum Solar Park achieved two records for the world ’ s “highest concentrated solar power tower ” at 263.126 meters and the“ largest thermal energy storage capacity ” in the world with a capacity of 5907 MWh using concentrated solar energy using parabolic inverters and molten salt.
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The UAE's solar market is expected to grow at a 35% rate until 2029, with the country aiming to invest 150-200 billion dirhams in renewable energy by 2029.

The Middle East region has high solar energy potential, with an average annual solar radiation exceeding 2,000 kilowatt-hours per square meter per year in countries like Saudi Arabia and the UAE.

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Content: General Supervision
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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.

Solar energy provides just over 2% of the current energy mix in the MENA region, but the region's renewable energy capacity is expected to grow three-fold by 2028.

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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 Arab Clean Energy Initiative aims for 80 GW of renewable energy capacity by 2030, with Arab countries planning 73 gigawatts of utility-scale solar and wind projects.

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

The region's renewable energy capacity is expected to increase six-fold in 10 years, with solar energy capacity factor in the region being about 20 percent.

Green hydrogen projects in the region are expected to generate $200 billion in export revenue by 2050, with Oman targeting 1 million tonnes of green hydrogen output per annum by 2030.

The UAE and Saudi Arabia generate the cheapest electricity from solar power, with the cost of solar energy decreasing over the decades in the Middle East.

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Content: 900 exhibitors showcase their innovations at Middle East Energy in Dubai
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His Excellency Saeed Mohammed Al Tayer, Managing Director and Chief Executive Officer of Dubai Electricity and Water Authority (DEWA), inaugurated yesterday Middle East Energy 2023, the region ’ s leading energy event with over 900 suppliers from around the world showcasing their latest innovations and new technologies to the market.
The 48th edition of the exhibition, which runs until March 9 at the Dubai World Trade Centre and is attended by more than 35,000 energy professionals, will feature an exhibition and three separate conferences, including Intersolar Middle East, the Strategic Conference and Technical Seminars, which explore plans and policies to shape the region ’ s energy sector and inform attendees of its current reality.
During his tour, Al Tayer spoke to a number of leading exhibitors from the region and the world to take a closer look at the latest products and trends in the industry, including Fanar and the German National Pavilion.
Sibylle Bfaff, Consul General of the Federal Republic of Germany in Dubai, stressed that Germany has been keen to participate in the Middle East Energy Show for years, and the German pavilion returns with the largest area in the history of the exhibition this year with the participation of 58 companies, reflecting an increase of 20% compared to last year.
She said: “We were delighted that His Excellency Saeed Al Tayer visited our stand, where he was particularly interested in energy efficiency and sustainability in line with the objectives of the UAE Year of Sustainability.
The UAE is our largest trading partner in the region and is a destination for companies looking to do business in the region and looking forward to the opportunities the region offers. ”
Future Expectations
Nicholas Daher, Principal Energy Analyst at The Economist Intelligence, opened the strategic conference by talking about the current state of energy consumption in the region and the world and the outlook for the future: “Fossil fuels in the Middle East and North Africa account for 98% of total energy consumption, with energy demand in the region expected to grow by 1.8% annually, making it the second fastest growing region in the world after Asia.
The Middle East needs to strike a balance between decarbonising efforts and meeting growing energy demand. ”
Change of Directions
At the Intersolar Middle East Conference, Ahmed Nada, President of the Middle East Solar Industry Association, highlighted the rapidly changing energy trends in the Middle East.
“The cost of solar energy was very high decades ago, and landowners across the region did not trust the vision of a world-leading solar ecosystem, as other fuels such as oil and gas were abundant at the time, ” he said.
But things have changed considerably faster than we can imagine, as the Middle East is now poised to make a real contribution to global energy security by replacing existing resources with renewable resources.
“Several countries like Egypt, Algeria, Libya and Turkey are competing to supply Europe with energy, and this cannot be achieved without coordinated efforts and cooperation.
The Middle East will certainly play a key role in enhancing energy security in the future, especially with regard to renewables.
We have also seen a shift in the supply chain away from reliance on China as the sole source, if the COVID-19 crisis teaches us that no single country can take over supply, prompting Europe to invest heavily in production processes while the United States has enough assets and high demand to rely on itself in domestic manufacturing.
The 48th Middle East Energy Show will see the return of the previously successful Global Buyers Programme, bringing together key industry stakeholders, investors and suppliers from around the world by connecting with more than 100 direct procurement influencers.
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The MENA region needs a balanced approach to energy deployment for inclusive and sustainable development, with a focus on solar and wind energy.

The region's energy demand is expected to grow 1.8% annually, with fossil fuels currently accounting for 98% of Middle East energy consumption.

However, the Middle East is expected to contribute to global energy security with renewables, with countries like Egypt, Algeria, Libya, and Turkey supplying Europe with energy.

The global renewable energy capacity reached 3,870 GW in 2023, with the Middle East increasing its renewable energy capacity by 16.6% in 2023.

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Content: Archive / Economics
3,870 GW of renewable energy capacity globally by 2023
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Thank you for reading the news about 3870 GW of renewable energy production capacity globally in 2023 and now we start to details
DAMMAM (Reuters) - A new record has been achieved for the adoption of renewable sources in the energy sector, with the total production capacity of renewable energy in 2023 reaching 3,870 gigawatts globally, accounting for 86% of the total new production capacity.
The Renewable Energy Capacity Statistics 2024 report, published by the International Renewable Energy Agency (IRENA) today, said that this growth has not been evenly distributed around the world, so tripling renewable energy capacity by 2030 remains a distant goal.
Global production capacity
Of the 473 GW of new global renewable energy capacity in 2023, Asia again accounted for the largest share of this expansion at 69% (326 GW), driven by China, which increased its capacity by 63% to 297.6 GW.
This reflects a significant gap with other regions, with the majority of developing countries lagging behind despite their enormous economic and development needs.
He noted that while Africa has seen some growth, this growth has been modest at 4.6% to bring its total production capacity to 62 GW.
Exceptional increase
Francesco La Camera, Director General of the International Renewable Energy Agency (IRENA), said: “This exceptional increase in renewable energy capacity shows that it is the best way to accelerate the transformation of the energy system in line with the objectives of the Paris Agreement. ”
“At the same time, these data indicate that progress is not fast enough to add the 7.2 terawatts of renewable energy required over the next seven years under the 1.5 ° C scenario presented by IRENA ’ s Global Energy Transition Outlook. ”
“Intervention to establish the required policies and correct the global trajectory is urgent to overcome structural obstacles and create local value in emerging markets and developing economies, many of which are lagging behind. ”
Deepening the decarbonization gap
“The uneven growth of renewable energy capacity, both geographically and technologically, is deepening the decarbonization gap and preventing the goal of tripling renewable energy by 2030. ”
In China, the growing competitiveness of solar and wind power versus coal and gas power generation has become the main driver for the growth of renewable energy capacity.
In the European Union, the rapid growth of such capacities was due to improved policies and growing concerns about energy security, regardless of the increased cost-competitiveness of renewables versus fossil fuels.
Expansion of power generation capabilities
Other regions of the world saw a significant expansion in renewable power generation capacity, with the Middle East increasing by 16.6% and Oceania increasing by 9.4%.
Together, the G7 achieved a 7.6 percent increase, adding 69.4 gigawatts last year.
On the other hand, G20 countries increased their renewable energy capacity by 15.0% to 3,084 GW by 2023.
According to the report, for global production to reach more than 11 terawatts to achieve the goal of tripling renewable energy, G20 members alone will have to produce 9.4 terawatts by 2030.
The report noted that with solar power at the forefront of the expansion of renewable energy generation capacity, growth has not only been uneven in geographical areas, but also in technologies.
Solar power accounted for 73 percent of renewable energy growth last year to 1,419 gigawatts, followed by wind power at 24 percent.
Screenplay by Irina
The IRENA scenario for halting the temperature rise to 1.5 ° C recommended a significant increase in financing and international cooperation to accelerate the transformation of the energy system, with a major focus on supporting developing countries.
That would require investment in power grids, improving their resilience and increasing their generation and storage capacities.
Institutions, policies and skills must be strengthened to support efforts to triple renewable energy by 2030.
Major Developments by Technology
Solar PV production capacity increased by 345.5 GW last year, while concentrated solar power generation capacity increased by 0.3 GW.
China alone accounted for 216.9 GW of the total expansion.
Hydropower capacity, excluding pumped hydro power, has reached 1,270 gigawatts (GW) with less growth than in recent years.
Australia, China, Colombia and Nigeria each contributed more than 0.5 GW each.
Wind power grew by 13%, second only to solar power.
By the end of 2023, total wind capacity was 1,017 GW.
China and the United States are at the forefront of this expansion.
Bioenergy expansion continued to slow with a 3% increase and 4.4 GW added compared to 6.4 GW in 2022.
China again accounted for the largest share of this expansion, followed by Japan, Brazil and Uruguay.
Geothermal capacity saw a very modest growth of 193MW, with Indonesia at the forefront of this expansion.
Off-grid renewable energy capacity – outside Europe, North America and Eurasia – increased by 4.6% to 12.7 GW, dominated by solar power, which reached 5 GW of off-grid capacity by 2023.
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Solar power accounted for 73% of renewable energy growth in 2023, with global solar PV production capacity increasing by 345.5 GW in 2023.

The worldwide solar cell capacity is expected to grow to 3,100 GW by 2040, with the UAE aiming to triple its renewable energy contribution in seven years.

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Content: Highlights of the International Sustainability and Renewable Energy Movement at the World Future Energy Summit 2022
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The World Future Energy Summit 2022 (WFES), which is taking place during Abu Dhabi Sustainability Week 2022 and hosted by Masdar, will feature sessions highlighting the latest strategies and trends in the international movement for sustainability and renewable energy at the Solar and Clean Energy Forum.
The summit comes as the solar sector continues to expand at an accelerated pace, with worldwide solar cell capacity expected to grow more than four-fold to 3,100 GW, while wind capacity will grow nearly 2.5 times to 1,850 GW by 2040, according to the IEA ’ s stated policy scenario.
More than 70 key experts and CEOs will share their insights on the dynamic transformation of the industry over the long term at the Solar and Clean Energy Forum.
At a time of increasing demand for clean energy, participants will discuss strategies to meet energy demand and work on the study and evaluation of new technologies.
Top investors and stakeholders from governments and companies, entrepreneurs, entrepreneurs, innovators and technology solution providers in the Middle East will attend the summit in person.
The topics to be discussed at the Clean and Solar Energy Forum will include the future of green hydrogen and the UAE hydrogen strategy, commercial and industrial uses of solar energy, mini-grids, grid and distributed power stability, green finance, project investments, operations, maintenance and asset management, energy storage in renewable environments, hybrid energy planning and the latest technologies.
Keynote speakers include Hind Al Mutawa, Director of Electricity and Energy Trade at the UAE Ministry of Energy and Infrastructure; Abdulaziz Al Obaidli, Director of Asset Management at TAQA; Bruce Stedal, Director of Asset Management at TRANSCO; Ahmed Al Mazrouei, Director of Electricity and Energy Trade at the UAE Ministry of Energy and Infrastructure; Lucas Sokol, Head of City Design, Sustainable Planning and Accreditation – Masdar; Carmen Vidal, President Executive Purchasing – Engie.
Grant Tuchten, Director of Group Events at the World Future Energy Summit, said: “We are delighted to once again welcome opinion leaders and exhibitors to an exceptional personal networking experience where they will be able to share business opportunities, innovation and knowledge. This will make the World Future Energy Summit the perfect platform to help establish new businesses and partnerships to drive the clean energy transition in the region. ”
The World Future Energy Summit 2022 provides free platforms that enable attendees to access valuable industry content, benefit from presentations by key stakeholders, attend industry panel discussions, explore best practice case studies, and learn about the latest industry trends.
The summit is the ideal forum for stakeholders to network and share business opportunities to promote clean energy transition and sustainable development in the MENA region.
Organised by RX Middle East, the World Future Energy Summit 2022 will take place at the Abu Dhabi National Exhibition Centre (ADNEC) from 17 to 19 January 2022 and will be hosted by Masdar as part of Abu Dhabi Sustainability Week, featuring a series of high-profile events addressing current global challenges and ways to collaborate to build a sustainable future for all.
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The UAE targets climate neutrality by 2050, with the country's solar capacity expected to play a significant role in achieving this goal.

The Arab countries aim to triple global renewable energy capacity by 2030, with the UAE, Saudi Arabia, and Egypt leading in renewable energy investments.

The Middle East saw a 12.8% increase in renewables in 2022, indicating a growing trend towards renewable energy in the region.

The Arab countries' investments in renewable energy projects are expected to reach $1 trillion by 2040, demonstrating a significant commitment to the energy transition.

Eight Arab countries are expected to lead the trend in renewable energy, with the renewable energy capacity in the Arab region projected to reach 45 gigawatts by 2027.

The Middle East renewable energy market is growing at an annual rate of 13.43% from 2023 to 2028, driven by government incentives and investments in renewable energy.

The Arab Clean Energy Initiative aims to increase renewable energy capacity to 80 GW by 2030, providing a framework for cooperation and investment in the region.

Egypt's Renewable Energy Feed Tariff program, unveiled in September 2014, is an example of a government incentive that has encouraged investment in renewable energy.

The UAE is investing $54.5 billion in renewable energy and has launched a National Hydrogen Strategy, demonstrating its commitment to the energy transition.

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

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

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

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

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

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

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

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

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

Regulatory frameworks

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

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

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

Data availability

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

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

ESG talent gap

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

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

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

Implementation by region’s corporates

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

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

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

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

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

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

Oman targets 16% of electricity from renewables by 2025 and 30% by 2030, with the government implementing policies to stimulate green hydrogen development.

Saudi Arabia leads the MENA region in renewables capacity growth, with the cost of solar power in the country being the cheapest in the world.

The UAE offers funding for innovative renewable energy projects, and the government of Jordan provides financial facilities for investors in renewable energy.

Gulf countries offer incentives for green hydrogen production, and governments finance investments in the renewable energy sector, encouraging the growth of the industry.

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Energy.
Gulf countries most attractive globally for green hydrogen production
Governments play a role in financing investments in the sector
Posted in: Last Updated:
Addy Ghanem, director at Arthur D. Little Middle East, said there are many conditions necessary to drive the hydrogen economy, both in terms of policy, infrastructure and supply and demand.
Ghanem said in an interview with Al-Arabiya that a number of incentives and legislation should be put in place to encourage demand for hydrogen in the short term, including the adoption of carbon taxes and support for research and development in the sector.
Ghanem said that in terms of supply, it should be taken into account that the cost of hydrogen represents two-thirds of the cost of energy, so it is important to produce hydrogen in places that provide many sources of energy and high capacity to generate energy from the sun and wind.
In terms of infrastructure, Ghanem said that the cost of storage and the cost of transporting hydrogen is high, so in order to enable a long-term hydrogen economy, this cost must be reduced, in addition to the investment of countries in transport networks.
He explained that many countries are building new transcontinental transport networks, or converting untapped gas networks at a lower cost.
Ghanem stressed that there must be high and concentrated demand, often coming from the industrial, petrochemical, investment and finance sectors as well as governments.
Governments play a role in providing finance, as does the private sector, and private sector companies must join hands to mitigate climate risks.
He pointed out that the countries of the region have started their journey in the field of hydrogen, noting that they enjoy a high competitive advantage with multiple sources of energy and a huge capacity to produce from such sources as solar and wind, making them one of the most attractive areas in the world and exporting it to demand centers in Japan, Germany and Korea.
The Director at Arthur D. Little Middle East revealed that the countries of the Gulf region have long experience in the production and export of oil and gas and assets and infrastructure that can be used in the hydrogen production sector.
“Hydrogen has many advantages, the most important of which is reducing harmful emissions, contributing to economic growth, diversifying energy sources and creating jobs, and it is a cross-sectoral field that can provide many economic and technological opportunities in the transportation and electricity sectors, ” he said.
He said that some countries in the region have started plans to produce hydrogen, including the launch of the first green hydrogen plant in the region in cooperation with Siemens, as well as the announcement of Abu Dhabi ’ s plans to enter the field, both from Mubadala Investment Company and TAQA.
Ghanem added: "Saudi Arabia is also implementing hydrogen projects in the city of Neom, and aims to establish the largest hydrogen generation facilities in the world, as well as signing a memorandum of understanding with Germany to expand in this area."

The UAE aims to achieve net zero emissions by 2050, and Saudi Arabia targets carbon neutrality by 2060, with both countries investing heavily in renewable energy.

Egypt aims to generate 42% of electricity from renewable energy by 2035, and the country has made significant progress in developing its renewable energy sector.

The Middle East countries promote renewable energy development,

The Middle East countries promote renewable energy development,

The Middle East countries promote renewable energy development,