The Middle East is witnessing a significant surge in solar energy investments, with total investment in the sector nearing $100 billion.

Several key projects are underway, including JinkoSolar's 10GW high-efficiency battery project in Saudi Arabia, which is expected to contribute substantially to the region's solar energy capacity.

The region's solar energy market is growing rapidly, with the Middle East leading in sustainable energy infrastructure development, and Larsen & Toubro securing a 3.5 GW solar project in the region.

The UAE produces 2.6 gigawatts of electricity from solar energy, while Egypt produces 1.9 gigawatts, and the MENA region is expected to grow its solar capacity by 500% by 2023.

The UAE ranks second in wind and solar electricity production, and Arab countries plan to double their renewable energy capacity by 2030.

The Middle East had 12 GW of renewable energy capacity in 2013, and the region's renewable energy sector is growing rapidly, with the Benban Solar Park in Egypt having a capacity of 1,800 megawatts.

The park, which spans 37 square kilometers, has 7 million photovoltaic panels and is valued at $4 billion.

The Arab Clean Energy Initiative aims to achieve 80 GW of renewable energy capacity by 2030, with the Gulf of Suez Wind Power Project reducing 2.4 million tons of CO2 emissions.

The UAE aims to achieve net zero emissions by 2050, with the Mohammed bin Rashid Al Maktoum Solar Park being the world's largest single-site solar park, having a production capacity of 5,000 megawatts by 2030.

The Dubai Clean Energy Strategy 2050 targets 100% clean energy, with a total investment in Mohammed bin Rashid Al Maktoum Solar Park of AED 50 billion.

The UAE has also launched the Green Hydrogen Project, which is the first in the Middle East and North Africa, and has enhanced desalination efficiency through reverse osmosis technology.

The region is expected to be a source of 10 to 20 percent of the global hydrogen market by 2050, with hydrogen expected to generate annual revenues of $120 billion to $200 billion.

Green finance in the MENA region reached $3.8 billion in 2020, and grew significantly in Turkey, UAE, Egypt, and Saudi Arabia in 2022.

The UAE aims to achieve carbon neutrality by 2050, with a target of 50% clean energy in the total energy mix and a reduction of carbon emissions by 70% by 2050.

The UAE plans to invest $163 billion in clean energy by 2050 and aims to raise energy efficiency by 40%, with a target of achieving savings of $190 billion by 2050.

The Middle East countries are investing heavily in energy transformation, with Jordan aiming for 50% renewable energy by 2030 and the UAE, Saudi Arabia, and Oman promoting renewable energy development.

The region receives 22 to 26 percent of the solar radiation energy on Earth, making it an ideal location for solar energy production.

The governments in the region are offering incentives for renewable energy, such as foreign revenue, to encourage the development of renewable energy projects.

The UAE has invested over $50 billion in renewable energy projects and plans to double its renewable energy supply by 2030.

The Al Dhafra Solar Power Plant provides power to 160,000 homes, with the Noor Abu Dhabi solar plant reducing emissions by 1 million metric tons per year.

The Mohammed bin Rashid Al Maktoum Solar Park is expected to power 800,000 homes by 2030, with the Barakah Nuclear Power Plant generating 5.6 GW of clean energy.

Abu Dhabi's solar PV capacity is expected to reach 7.5 gigawatts by 2030, with 50% of the city's electricity coming from renewables.

The city aims to reduce its CO2 emissions by 50% to 22 million tonnes per year by 2030, and average CO2 intensity from electricity generation is expected to reach 190 kg/MWh by 2030.

Lebanon's solar energy market grew between 2010 and 2020, with solar water heating systems exceeding 900 thousand square meters.

The country's clean energy production cost is about 6 or 7 cents per kilowatt hour, and solar energy projects are expected to exceed 1500 MW by June 2024.

The ministry aims to install 3000 megawatts of solar farms by 2030 and 1000 megawatts of wind farms by 2030, with clean energy accounting for 30 percent of national consumption by 2030.

Egypt's solar energy capacity is 1756 MW, and the country's total renewable energy capacity is 2852 MW, with hydropower projects accounting for 96 MW.

The country aims to become a regional clean energy production center, with global clean energy investment expected to reach $2 trillion in 2024.

Solar PV investment is expected to grow to $500 billion in 2024, with China accounting for $675 billion in clean energy investment.

The Middle East leads in oil and gas exploration investment, but the region is also witnessing significant growth in renewable energy investments.

Global energy investment is expected to exceed $3 trillion in 2024, with clean energy spending supported by strong economies and cost reductions.

The cost of solar panels has reduced by 30% in two years, making solar energy a more viable option for countries in the region.

Egypt targets 42% renewable energy by 2030 and has planned $1.7 billion in renewable energy investments, with a 200 MW solar cell plant to start operating in 2024.

The country's installed renewable energy capacity is 6,600 MW, and 27 memorandums of understanding have been signed for 114 GW capacity.

The UAE solar energy market is expected to grow 35% annually until 2029, with the country aiming to inject 150-200 billion dirhams in renewable energy.

The UAE has 3,040 megawatts of solar capacity and is ranked second in per capita solar energy consumption, with Masdar developing a 2 GW Al Dhafra solar PV plant.

The Mohammed bin Rashid Al Maktoum Solar Park is expected to produce 5,000 megawatts, with total investment in the park reaching AED 50 billion.

The park is expected to reduce 6.5 million tonnes of carbon emissions annually, and the UAE aims to triple its renewable energy contribution by 2030.

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

The Middle East saw a 12.8% increase in new renewable energy capacity in 2022, with eight Arab countries leading the trend in renewable energy growth.

The UAE is the top Arab country producing electricity from solar energy, while Egypt is the largest Arab country producing electricity from wind energy.

The Arab Renewable Energy Authority expects 45 gigawatts of renewable energy capacity by 2027, with $1 trillion investments in renewable energy projects expected by 2040 in Arab countries.

The UAE has launched several renewable energy projects, including the Al Dhafra solar farm, which has a power of 2 GW.

Saudi Arabia has the cheapest solar electricity in the world, making it an attractive location for renewable energy investments.

The Middle East region has excellent wind resources, despite the lack of consistency, with Egypt planning to build a 10 GW wind farm with Masdar.

Oman targets 16% of electricity from renewables by 2025 and 30% by 2030, with a focus on solar PV and onshore wind.

The UAE aims to invest $54.5 billion in renewable energy and has launched a number of initiatives to support the growth of the renewable energy sector.

The UAE offers financial incentives for renewable energy projects, while Jordan provides financial facilities to investors for solar power.

Saudi Arabia has launched a number of initiatives to support the growth of the renewable energy sector, including the development of a carbon-free city called The Line.

The Gulf countries offer attractive green hydrogen production incentives, with governments financing investments in the renewable energy sector.

The region is expected to be a source of 10 to 20 percent of the global hydrogen market by 2050, with hydrogen expected to generate annual revenues of $120 billion to $200 billion.

Green finance in the MENA region reached $3.8 billion in 2020, with significant growth seen in 2022 in Turkey, UAE, Egypt, and Saudi Arabia.

The UAE aims to achieve net zero emissions by 2050, while Saudi Arabia targets carbon neutrality by 2060, with Egypt aiming for 42% renewable energy by 2035.

The Middle East countries are investing heavily in energy transformation, with Jordan aiming for 50% renewable energy by 2030 and the UAE, Saudi Arabia, and Oman promoting renewable energy development.

The region receives 22 to 26 percent of the solar radiation energy on Earth, making it an ideal location for solar energy production.

The governments in the region are offering incentives for renewable energy, such as foreign revenue, to encourage the development of renewable energy projects.

The Middle East produces 30% of global oil production, and oil revenues drive government revenues in the region.

The

The Middle East is witnessing a significant surge in solar energy investments, with total investment in the sector nearing $100 billion.

Title:

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

The region's solar energy market is growing rapidly, with the Middle East leading in sustainable energy infrastructure development, and Larsen & Toubro securing a 3.5 GW solar project in the region.

Title:

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

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

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

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

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

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

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

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

(Disclaimer: With inputs from agencies.)

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The UAE produces 2.6 gigawatts of electricity from solar energy, while Egypt produces 1.9 gigawatts, and the MENA region is expected to grow its solar capacity by 500% by 2023.

Title:

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

The UAE ranks second in wind and solar electricity production, and Arab countries plan to double their renewable energy capacity by 2030.

The Middle East had 12 GW of renewable energy capacity in 2013, and the region's renewable energy sector is growing rapidly, with the Benban Solar Park in Egypt having a capacity of 1,800 megawatts.

Title:

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

The park, which spans 37 square kilometers, has 7 million photovoltaic panels and is valued at $4 billion.

The Arab Clean Energy Initiative aims to achieve 80 GW of renewable energy capacity by 2030, with the Gulf of Suez Wind Power Project reducing 2.4 million tons of CO2 emissions.

The UAE aims to achieve net zero emissions by 2050, with the Mohammed bin Rashid Al Maktoum Solar Park being the world's largest single-site solar park, having a production capacity of 5,000 megawatts by 2030.

Title:

Content: Dubai Electricity Projects Support UAE Climate Neutrality Goals
T + T - normal size
Dubai Electricity and Water Authority (DEWA) has established itself as a pillar of the UAE ’ s ambitious drive to achieve carbon neutrality by 2050.
Under the visionary guidance of the wise leadership, the Authority has launched several pioneering projects and initiatives, which reflect its firm commitment to the principles of sustainability and innovation.
The Mohammed bin Rashid Al Maktoum Solar Park, the world ’ s largest single-site solar park under the Independent Energy Producer (IPP) system, is a key part of DEWA ’ s sustainability strategy as well as its key role in the Dubai Clean Energy Strategy.
The complex will have a production capacity of more than 5,000 megawatts by 2030, with a total investment of more than AED 50 billion.
With its current capacity of 2,860 megawatts, the park contributes significantly to achieving the Dubai Clean Energy Strategy 2050 and Dubai ’ s Carbon Neutrality Strategy 2050, to provide 100% of energy capacity from clean energy sources by 2050.
Green Hydrogen
In addition to the advancement of solar projects, DEWA is also playing a leading role in the production of green hydrogen, having implemented the Green Hydrogen Project at the Mohammed bin Rashid Al Maktoum Solar Park, the first of its kind in the Middle East and North Africa to produce hydrogen using solar energy.
The pilot plant was designed and built to be able to accommodate future applications and test platforms for various uses of hydrogen, including electricity production and mobility.
In addition to the Authority ’ s innovative projects, the hydroelectric station in Hatta, with stored hydropower technology, which is the first of its kind in the Arabian Gulf region.
The plant will improve energy storage efficiency and respond quickly to electricity demand, with a capacity of 250 megawatts and a storage capacity of 1,500 megawatt hours.
This project, along with DEWA ’ s various renewable energy projects, reflects DEWA ’ s leading role in supporting the UAE ’ s energy transition.
DEWA ’ s commitment to sustainability is not limited to energy production projects, as it has implemented several initiatives aimed at enhancing desalination efficiency and reducing carbon emissions, and has succeeded in enhancing the efficiency of water production processes through the adoption of reverse osmosis desalination technology.
In this context, the Authority ’ s efforts have led to raising the fuel efficiency of the main production units to about 90%, which is one of the best in the world.
DEWA ’ s innovative projects and initiatives continue to deliver outstanding results that support its sustainability vision.
Brand Finance ’ s latest report highlighted TRA ’ s achievements in this area, confirming that it has been ranked first in the UAE in sustainability, as well as ranked first among UAE service organizations in the overall brand value.
These achievements reflect DEWA ’ s strong presence in the market and its commitment to excellence and sustainability.
The report added that the value of the Authority ’ s brand has increased by 3% since its launch on the Dubai Financial Market.
Strategic initiatives
DEWA ’ s strategic initiatives come in line with the UAE ’ s objectives in the field of sustainability, and by employing advanced technologies and sustainable practices, DEWA contributes significantly to achieving the economic and environmental objectives of the Emirate of Dubai, as well as being a model for service institutions worldwide.
DEWA continues to adopt a proactive approach to clean energy and innovative solutions, underscoring its commitment to building a sustainable future and strengthening Dubai ’ s position as a global leader in the transition to a green economy.
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The Dubai Clean Energy Strategy 2050 targets 100% clean energy, with a total investment in Mohammed bin Rashid Al Maktoum Solar Park of AED 50 billion.

The UAE has also launched the Green Hydrogen Project, which is the first in the Middle East and North Africa, and has enhanced desalination efficiency through reverse osmosis technology.

The region is expected to be a source of 10 to 20 percent of the global hydrogen market by 2050, with hydrogen expected to generate annual revenues of $120 billion to $200 billion.

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.

Green finance in the MENA region reached $3.8 billion in 2020, and grew significantly in Turkey, UAE, Egypt, and Saudi Arabia in 2022.

The UAE aims to achieve carbon neutrality by 2050, with a target of 50% clean energy in the total energy mix and a reduction of carbon emissions by 70% by 2050.

Title:

Content: UAE announces initiative to become first Middle East country to achieve climate neutrality by 2050
Middle East
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DUBAI, United Arab Emirates (CNN) - The United Arab Emirates (UAE) has announced that it will be the first country in the Middle East and North Africa to announce its goal of achieving climate neutrality by 2050.
The announcement of the initiative was made in the presence of Sheikh Mohammed bin Zayed, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, at the UAE Pavilion at Expo 2020 Dubai.
Sheikh Mohammed bin Zayed said: “By achieving climate neutrality in the UAE by 2050, we aim to develop a comprehensive government approach that ensures sustainable economic growth in the country.
It provides a model for action and cooperation to ensure a better future for humanity, ” the official WAM news agency reported.
For his part, Sheikh Mohammed bin Rashid, Vice President and Prime Minister of the UAE and Ruler of Dubai, said: “Our development model will take into account this goal, and all institutions will work as a team to achieve it.
The UAE will invest more than 600 billion dirhams ($163 billion) in clean and renewable energy by 2050.
It will play its global role in the fight against climate change. ”
Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology and UAE Special Envoy for Climate Change, said: “We will strive to achieve climate neutrality with a focus on creating new economic opportunities that contribute to increasing industrial competitiveness and strengthening the UAE ’ s position as an attractive global economic hub for investments, in line with the 10 principles of the new 50. ”
Al Jaber explained that the UAE ’ s Strategic Climate Neutrality Initiative aims to contribute to diversifying sources of income, creating opportunities for sustainable economic and social growth while balancing sustainable development and reducing the impact of climate change, building a knowledge economy, leveraging clean technology to achieve sustainable development, and creating a diverse mix of energy sources.
The initiative will also contribute to the development of human capital expertise in future fields, and attract distinguished human competencies.
Al Jaber said that his country ’ s initiative constitutes an open invitation from the UAE to the world to cooperate in creating meaningful economic opportunities by finding practical solutions to the consequences of climate change.
According to the announcement, the UAE ’ s Energy Strategy 2050 targets a mix of renewable, nuclear and clean energy sources to ensure a balance between economic needs and environmental objectives with investments of 600 billion dirhams until 2050, to ensure that energy demand is met.
In addition to raising the efficiency of individual and institutional consumption by 40%, raising the contribution of clean energy in the total energy mix produced in the country to 50%, including 44% renewable energy and 6% nuclear energy, achieving savings equivalent to 700 billion dirhams until 2050, in addition to reducing carbon emissions from electricity production by 70% over the next three decades.
As part of the announced initiative, at least 30 million native Quram trees will be planted across the UAE by 2030 to preserve the coastal environment and enhance its biodiversity, noting that these trees are capable of capturing and storing large amounts of carbon.
The UAE has submitted its bid to host the 28th session of the Conference of the Parties to the United Nations Framework Convention on Climate Change (COP 28) in Abu Dhabi in 2023.
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The UAE plans to invest $163 billion in clean energy by 2050 and aims to raise energy efficiency by 40%, with a target of achieving savings of $190 billion by 2050.

The Middle East countries are investing heavily in energy transformation, with Jordan aiming for 50% renewable energy by 2030 and the UAE, Saudi Arabia, and Oman promoting renewable energy development.

Title:

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

The region receives 22 to 26 percent of the solar radiation energy on Earth, making it an ideal location for solar energy production.

The governments in the region are offering incentives for renewable energy, such as foreign revenue, to encourage the development of renewable energy projects.

The UAE has invested over $50 billion in renewable energy projects and plans to double its renewable energy supply by 2030.

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Content: Friday 8 December 2023 Abu Dhabi UAE
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Massive clean energy projects boost UAE ’ s climate efforts
Suhail Al Mazrouei
December 8, 2023 01: 29
His Excellency Suhail Mohammed Al Mazrouei
The UAE has seen rapid and sustained growth in renewable energy production over the past decade and has increased its investment in international renewable energy projects, placing it at the forefront of the world ’ s transition to clean energy.
Located just 35km from Abu Dhabi, Al Dhafra Solar Power Plant is the largest single-site solar power plant in the world.
The newly commissioned plant has about 4 million solar panels spread over an area of 20 square kilometers and provides enough power for more than 160,000 homes.
This milestone is part of the UAE ’ s ambitious plans to diversify its energy sources and is one of the latest achievements in a 15-year journey in which the country has established itself as the world ’ s largest solar producer and the second largest consumer of solar energy by population.
The Al Dhafra Solar Power Plant contributes significantly to the UAE ’ s strategic goal of achieving climate neutrality by 2050.
This is a goal that the country is moving steadily towards thanks to its huge investments.
To date, the UAE has fulfilled its commitments to invest more than $50 billion in renewable energy projects, both inside and outside the country.
In July 2023, the UAE unveiled additional plans to double its renewable energy supply and investment by $54 billion over the next seven years to meet growing energy demand.
The UAE has already begun to reap the benefits of its commitment to these pledges.
By 2030, the country will have doubled its renewable energy capacity and the share of clean energy in its diverse energy sources will increase by 30% with a total capacity of 19.8 GW.
Thanks to the UAE ’ s year-round sunny climate, solar energy is one of the most important and prominent sources of energy in the country.
In addition to the Al Dhafra solar plant, the Noor Abu Dhabi solar plant generates 1.2 gigawatts of electricity and provides power to 90,000 homes while reducing emissions by 1 million metric tons per year, enough to remove 200,000 vehicles from the roads.
The Shams plant in the Al Dhafra region of Abu Dhabi is one of the largest concentrated solar power plants in the Middle East and helps eliminate 175,000 tons of carbon dioxide annually, equivalent to planting 1.5 million trees.
In Dubai, the Mohammed bin Rashid Al Maktoum Solar Park comes with a production capacity of 5,000 megawatts by 2030, enough to power 800,000 homes by 2030 and reduce more than 6.5 million tonnes of carbon emissions annually.
Despite the country ’ s large and diversified investments in clean energy, its transition to clean energy is based on a long history and track record in sustainability that put his first daughters, the founding father of the late Sheikh Zayed bin Sultan Al Nahyan, who was the forerunner in preserving the environment before increasing interest in this important topic.
Recently, the UAE has begun to take advantage of technological development to establish itself as a leading innovation hub based on a sophisticated system aimed at finding solutions to some of the world ’ s biggest challenges.
Although solar power is abundant, nuclear power contributes even more to efforts to reduce carbon emissions.
At the Barakah Nuclear Power Plant in the Emirate of Abu Dhabi, the first nuclear power project in the Arab world, three of its four units have started commercial operations.
Once the fourth reactor is operational, the plant will generate 5.6 GW of clean energy, providing 25% of the UAE ’ s electricity needs.
The UAE has also succeeded in introducing wind energy on a large scale in its diverse energy sources by launching the UAE Wind Energy Program, where wind farms are located in three locations in Abu Dhabi and one in Fujairah, with a production capacity sufficient to power more than 23,000 homes annually.
Low-emission hydrogen is expected to play a key role in the UAE ’ s renewable energy portfolio, as the country prepares to strengthen its leadership in the production and export of low-emission hydrogen, with a target of 1.4 million metric tons per year by 2031 and 15 million metric tons per year by 2050.
In line with the UAE ’ s National Hydrogen Strategy announced in July 2023, it will establish two hydrogen-producing oases by 2031 and increase the number to five by 2050.
There are also plans to establish a dedicated hydrogen research, development and innovation centre.
The UAE has made significant progress in this area by entering into a number of important partnerships, with Abu Dhabi Future Energy Company (Masdar) signing a Memorandum of Understanding (MoU) with four Dutch companies to develop a green hydrogen supply chain between Abu Dhabi and Amsterdam.
ADNOC also sent its first shipment of hydrogen ammonia to Germany in October 2022 as part of a landmark agreement between the UAE and Germany to increase energy security, decarbonize and tackle climate change.
At the same time, the UAE is developing its infrastructure to facilitate the manufacture of clean hydrogen.
This includes ADNOC ’ s plans to build a world-class blue ammonia plant in the Tamkeen industrial zone and chemicals hub in Ruwais.
This is in addition to the agreement signed by Abu Dhabi-based VertiGlobe, a joint venture between ADNOC and USSI, registered in the Netherlands, with Masdar and France to develop a competitively priced green hydrogen production facility in Ruwais with a potential capacity of up to 2 MW scheduled for operation by 2025.
Domestically, the UAE is making significant progress in meeting its energy needs, but its vision for a sustainable future transcends its borders.
In 2022 alone, the UAE allocated nearly $36 billion in foreign direct investment to renewable energy projects around the world.
Since its launch in 2006, Masdar has invested or committed to investing in projects around the world worth more than $30 billion.
These investments include the partnership agreement it recently signed with Egypt to build a 10GW wind farm, which is expected to become one of the largest projects in its class.
In addition to producing 47,790 gigawatts of clean energy annually, the farm will create 100,000 jobs during construction and 3,200 more once the project is completed.
It will contribute a 42% share of Egypt ’ s diverse energy sources by 2035 and help save $5 billion a year in natural gas costs.
Masdar also formed a new consortium to build a $1 billion solar power plant in Saudi Arabia after signing a power purchase agreement with EDF Renewables, Nesma and Saudi Power Purchase Company.
Under the agreement, the consortium will develop the 1,100-megawatt (MW) Hannakiya solar power plant, which, when completed, will power more than 190,000 homes a year and avoid the release of more than 1.8 million tonnes of carbon emissions annually.
While the UAE ’ s ambitious clean energy projects have proven to have a significant impact on reducing emissions, the country ’ s expansion of its clean and diverse energy sources promotes the development of sustainable development on a larger scale, creating jobs, increasing access to clean, affordable, reliable and safe energy, and paving the way towards a thriving sustainable economy.
Minister of Energy and Infrastructure
All rights reserved to Union News Center 2023 ©

The Al Dhafra Solar Power Plant provides power to 160,000 homes, with the Noor Abu Dhabi solar plant reducing emissions by 1 million metric tons per year.

The Mohammed bin Rashid Al Maktoum Solar Park is expected to power 800,000 homes by 2030, with the Barakah Nuclear Power Plant generating 5.6 GW of clean energy.

Abu Dhabi's solar PV capacity is expected to reach 7.5 gigawatts by 2030, with 50% of the city's electricity coming from renewables.

Title:

Content: Thursday, 22 February 2024 06: 22 GMT
EWEC launches ‘ Future Capacity Requirements 2024-2037 ’ report
(MENAFN- Al-Bayan)
The Emirates Water and Electricity Company (EWEC) launched yesterday a report ((Future Capacity Requirements for Water and Electricity Production for the Years 2024-2037)).
During a briefing in Abu Dhabi, Othman Al Ali, CEO of EWEC, confirmed the construction of 10 solar power plants that will add about 1.4 gigawatts of new solar PV energy annually over the years (2027-2037), with a total capacity of up to 14 gigawatts.
He explained that the company is looking to raise solar PV capacity to about 7.5 gigawatts in Abu Dhabi by 2030, pointing out that more than 50% of the electricity in Abu Dhabi will be provided through renewable and clean energy sources by 2030.
In its report, EWEC recommended the development of 400 megawatts of improved battery storage systems for one hour ’ s reserve by 2026 to enhance the system ’ s flexibility and provide operational reserves.
The report also recommended developing the necessary infrastructure facilities for electricity generation and water desalination to achieve sustainability goals, and to meet the growing demand for water and electricity reliably and at the lowest possible cost.
In its report, the company expects reverse osmosis desalination to play a key role in reducing operational costs and reducing the carbon intensity of water production by 93% by 2031.
The Future Capacity Requirement Report aims to produce nearly emission-free water by 2031, predicting a reduction of almost 50% in total CO2 emissions to about 22 million tonnes per year by the mid-1930s, compared to 42 million tonnes per year in 2019, and a reduction in the average CO2 intensity from electricity generation to 190 kg per megawatt. by 2030, compared to 330 kg / MWh in 2019.
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The city aims to reduce its CO2 emissions by 50% to 22 million tonnes per year by 2030, and average CO2 intensity from electricity generation is expected to reach 190 kg/MWh by 2030.

Lebanon's solar energy market grew between 2010 and 2020, with solar water heating systems exceeding 900 thousand square meters.

Title:

Content: World News
Clean Energy Middle East Exhibition and Conference Opening Ceremony
The opening ceremony of the third edition of the Middle East Clean Energy Conference and Exhibition, a conference and exhibition dedicated to clean and renewable energy, showcasing the latest technologies, as well as a range of related solutions and services.
Dealers display their commercial goods in terms of inverters, panels, batteries, solar programs and heaters, and project finance.
It will last until May 10, 2024 at the Venice Hotel, Beirut.
The first session of the conference and exhibition was held under the title: "National Policy for the Energy Sector", in which Minister of Energy and Water Walid Fayyad participated.
In a related context, the Director General of EDL, Kamal Hayek, reviewed the reality of the institution after the explosion of August 4, the national emergency plans approved by the government to promote the electricity sector, and the decisions of the Board of Directors to put national emergency plans into effect, the most important of which is the amendment of the tariff, and the future vision of EDL and its dealings with international donors such as the World Bank.
Then came the word A.
Sami Alawiya, who spoke about the importance of hydropower and its role in reducing emissions as clean energy, and the relationship with EDL.
Fayyad pointed out that the Ministry of Energy and Water is moving towards more clean, sustainable and environmentally friendly energy technologies, and that Lebanon is serious about the transition to sustainable energy that is less expensive than fossil energy and is a partner in the fight against climate change.
He pointed out that the solar energy market has witnessed good growth between 2010 and 2020, especially in the level of water heating on solar energy, where the area of water heating systems on solar energy exceeded 900 thousand square meters on the entire Lebanese territory.
The market of electricity production through solar energy and fans has also witnessed a remarkable growth, especially with the lifting of subsidies on oil derivatives, as the clean energy currently produced in Lebanon is less expensive, where the cost of electricity production in EDL is about 14 US cents per kilowatt hour, while the cost of electricity production from private generators is about 30 US cents per kilowatt hour, the cost of electricity production from clean energy is currently about 6 or 7 cents per kilowatt hour. ”
"The lifting of subsidies on electricity prices has given the clean and renewable energy market a significant boost, making the volume of solar energy projects implemented to exceed the threshold of 1500 MW by June 2024," he said.
He also touched on government plans to implement major projects in the field of electricity production through the sun, especially the construction of 11 solar plants to produce electricity with a capacity of 15 MW per plant, i.e. a total of 165 MW, with the production being linked to EDL and sold to EDL.
It is estimated that the share of clean and renewable energy in electricity production will be about 30 percent of the national consumption by 2030.
The ministry ’ s goal is to install 3,000 megawatts of solar farms by 2030 and about 1,000 megawatts of wind farms, in addition to completing the volume of water heating on solar energy, and increasing hydropower; the ministry will spare no effort to achieve these figures, even surpassing them. ”
This was the details of the news of the opening ceremony of the exhibition and conference "Middle East Clean Energy" for today. We hope that we have succeeded by giving you the details and full information and to follow all our news you can subscribe to the alerts system or one of our different systems to provide you with all the new.
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The country's clean energy production cost is about 6 or 7 cents per kilowatt hour, and solar energy projects are expected to exceed 1500 MW by June 2024.

The ministry aims to install 3000 megawatts of solar farms by 2030 and 1000 megawatts of wind farms by 2030, with clean energy accounting for 30 percent of national consumption by 2030.

Egypt's solar energy capacity is 1756 MW, and the country's total renewable energy capacity is 2852 MW, with hydropower projects accounting for 96 MW.

Title:

Content: Chairman of the Board of Directors and Editors
Mohamad Elbaz
Chairman of the Board of Directors and Editors
Mohamad Elbaz
Leader of the Future of a Nation: Egypt will become a regional center for the production of clean energy and investment in it
The International Energy Agency (IEA) predicts that total global energy investment will exceed $3 trillion in 2024, including renewables, electric vehicles, nuclear power, grids, storage, low-emission fuels, efficiency improvements and heat pumps, to $2 trillion this year.
Al-Deeb added that Egypt has proactive steps under the directives of President Abdel Fattah Al-Sisi in this field, the capacity of the implemented projects amounted to 1635 MW, and with regard to renewable energy projects, including solar projects, where the capacity of the implemented projects amounted to 1756 MW, while renewable energy projects also include hydropower projects in Naga Hammadi with a capacity of 64 MW, and Assiut with a capacity of 32 MW. A strong presence in clean energy investment that has become the focus of the world ’ s attention. ”
He pointed out that investment in clean energy, which has become the focus of attention of the whole world, achieves new records even under difficult economic conditions, which confirms the momentum gained by the new global energy economy, and the major economies compete for advantage in the new clean energy supply chains.

The country aims to become a regional clean energy production center, with global clean energy investment expected to reach $2 trillion in 2024.

Solar PV investment is expected to grow to $500 billion in 2024, with China accounting for $675 billion in clean energy investment.

Title:

Content: Two-sided solar panels in Turin, Italy
Investment in clean energy could reach $2 trillion by 2024
Global investment in clean energy technology and infrastructure is expected to reach $2 trillion this year, double the amount allocated to fossil fuels, according to a report by the International Energy Agency (IEA).
In its annual Global Energy Investment Report, the IEA said total investment in the energy sector is expected to exceed $3 trillion for the first time in 2024.
About $2 trillion will go to clean energy technologies, including renewables, electric vehicles, nuclear power, grids, storage, low-emission fuels, efficiency improvements and heat pumps, with the rest going to gas, oil and coal.
Joint investment in energy and renewable grids exceeded the amount spent on fossil fuels for the first time in 2023.
Fatih Birol, executive director of the International Energy Agency, said: “For every dollar that goes into fossil fuels today, nearly two dollars are invested in clean energy. ”
“The rise in clean energy spending is being supported by strong economies, ongoing cost reductions and energy security considerations. ”
Related News
More than 110 countries support COP28 pledge to double renewable energy
China is set to account for the largest share of clean energy investment in 2024, with an estimated $675 billion, while Europe is set to account for $370 billion and the United States for $315 billion.
Spending on solar PV is more concentrated than any other technology to generate electricity, and investments are expected to grow to $500 billion in 2024, due to lower prices for solar modules.
Global investment in oil and gas exploration is expected to increase by 7 percent in 2024 to $570 billion, after a similar rise in 2023.
National oil companies in the Middle East and Asia led most of the investment, the report said.
There is still a lack of energy investment in parts of the world such as emerging economies and developing economies outside China.
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The Middle East leads in oil and gas exploration investment, but the region is also witnessing significant growth in renewable energy investments.

Global energy investment is expected to exceed $3 trillion in 2024, with clean energy spending supported by strong economies and cost reductions.

The cost of solar panels has reduced by 30% in two years, making solar energy a more viable option for countries in the region.

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International Energy Agency: Clean Energy Investment to Reach $2 Trillion by 2024
6 June 2024
According to the International Energy Agency (IEA), investments in solar power worldwide exceed investments in all other sources of electricity combined.
China will account for the largest share of global clean energy investment in 2024.
https: / / p.dw.com / p / 4gjD8
According to the latest report released by the International Energy Agency (IEA), global investment in clean energy will reach $2 trillion (1.84 trillion euros) this year, double the investment in fossil fuels.
Fatih Birol, Executive Director of the International Energy Agency, said: "At present, for every dollar spent on fossil fuels, nearly two dollars are spent on clean energy."
Clean technologies include renewable energy, electric vehicles, nuclear energy, grids, storage, low-emission fuels, efficiency improvements, and heat pumps.
At the same time, the agency said in its annual World Energy Investment Report that total energy investment is expected to exceed $3 trillion for the first time in 2024. In 2023, total investment in renewable energy power and power grids exceeded total investment in fossil fuels for the first time.
6 Ideas for Green Energy!
Solar energy investment exceeds other forms of energy
The report shows that more money is invested in solar photovoltaic (PV) panels than all other power generation technologies combined.
The cost of solar panels has been reduced by 30% in the past two years, and "investment in solar photovoltaic power generation will grow to $500 billion by 2024 as falling module prices spur new investments."
China will account for the largest share of global clean energy investment in 2024, which is expected to reach $675 billion, Europe will reach $370 billion, and the United States will reach $315 billion.
Energy investment gap still exists in some regions
By contrast, following similar growth in 2023, global upstream oil and gas investment is expected to grow by 7% to $570 billion by 2024.
National oil companies in the Middle East and Asia are the main drivers of this growth, the report said.
What is hindering Germany ’ s energy transition?
The International Energy Agency has warned that to meet the medium-term goal of reducing harmful carbon emissions, global investment in renewable energy must be doubled by 2030.
The agency also noted that energy investment gaps remain in some parts of the world, such as emerging markets and developing economies outside China.
The IEA warns that excessive costs are creating "serious imbalances and shortages in energy investment flows in many parts of the world".
(AFP, Reuters)
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Egypt targets 42% renewable energy by 2030 and has planned $1.7 billion in renewable energy investments, with a 200 MW solar cell plant to start operating in 2024.

Title:

Content: Chairman of the Board of Directors and Editors
Mohamad Elbaz
Chairman of the Board of Directors and Editors
Mohamad Elbaz
3 renewable energy plants in operation and a plan to attract investment of $1.7 billion
Egypt is seeking to become a regional energy hub in the Mediterranean region, especially in the energy sector produced from renewable sources such as sun, wind and water, where the national contribution plan has been updated to make the proportion of energy produced from new and renewable sources in the energy mix of the electricity sector 42% by 2030.
Eng. Ihab Ismail, Executive Vice President for Studies, Research and Technical Affairs at the New and Renewable Energy Authority, said that the year 2024 will witness the operation of three new and renewable energy plants with different capacities.
Ismail added that the month of January witnessed the official operation of the Gulf of Suez wind station with a capacity of 250 megawatts, which is owned by the New and Renewable Energy Authority and the cost of its construction is 250 million dollars.
The Vice President of the New and Renewable Energy Authority pointed out that during the first half of this year 2024, the first plant, owned by ACWA Power, a 200 MW solar cell plant with investments of $160 million will start operating in the Kom Ombo area and will be officially operational in the second quarter of this year 2024. 24, which is an investment of approximately $400 million.
The Vice President of the New and Renewable Energy Authority confirmed the start of the modernization of the wind atlas of Egypt in cooperation with Denmark.
Solar Cell Services Interactive Platform
In order to reach more accurate and fast data to communicate with investors, the Ministry of Electricity and Renewable Energy launched the interactive platform for solar cell systems services PVHUB, which was launched in cooperation with the New and Renewable Energy Authority (NREA) and the Small Cell Systems Project of the Industrial Modernization Center (IMC) funded by the United Nations Development Program (UNDP). Electricity, consumer protection and solar system installers.
According to a report issued by the Renewable Energy Authority, seen by "Constitution", the platform allows the submission of applications for qualification and follow-up, accreditation, communication with distribution companies and follow-up of the linking procedures until the completion of the project implementation and linking it to the network "all steps are done online".
- Facilitate procedures for companies operating in the field of solar energy
- Provide access to relevant information.
- Following up the development of the market, inventorying the installed capacities and issuing periodic reports.
- Mechanization of procedures between the authorities related to solar cell projects, where applications for the rehabilitation of the implementing companies, and applications to connect the projects to the electrical network are received electronically, with all documents attached to the technical file to facilitate the procedures and save these documents in the database.
According to the official website of the New and Renewable Energy Authority, there are BOO projects under development in the Gulf of Suez region with a capacity of more than 1700 MW.
A 250 MW wind farm project is also being constructed in the private sector (Lakela Company).
Dr. Mohamed El-Khayat, Chairman of the New and Renewable Energy Authority (NREA), said that Egypt will receive new investments in new and renewable energy during 2024 and the implementation of the state plan for renewable energy projects, where the authority allocated LE 7.3 billion investment budget in 2024 / 2025, focusing on the establishment of renewable energy projects, including the establishment of a 20 MW solar power plant in Hurghada in cooperation with the Japan International Cooperation Agency (JICA). To increase the participation of renewable energy sources to more than 42% by 2030.
Al-Khayat added in special statements to the Constitution that the draft budget of the Authority for the fiscal year 2024 / 2025 is estimated at 7.799 billion Egyptian pounds, of which 4 billion pounds is an ongoing budget.
He pointed out that the installed capacity in Egypt is currently about 6,600 megawatts of renewable energy capacity divided between 45% of the water stations, and the rest is distributed between solar and wind energy.
He explained that the Authority aims to attract foreign direct investments worth $1.7 billion distributed between $1 billion for wind energy projects in the Gulf of Suez region with two projects producing 500 megawatts each, in addition to investments worth $700 million in the Aswan region for solar energy projects.
According to the draft budget of the new fiscal year 2024 / 2025, President Abdel Fattah al-Sisi allocated additional land areas for renewable energy projects, to exceed the total areas allocated to these projects 41 thousand square kilometers, with the issuance of presidential decrees No. 591 for the year 2023 for an area of about 47 km2 in Aswan governorate and 39 for the year 2024 for an area of about 10 km2 in New Valley governorate, allowing to absorb additional capacities for electricity production from wind and solar. A total of 27 memorandums of understanding were signed with a total capacity of about 114 GW (63 GW wind + 51 GW solar), in addition to the signing of 4 memorandums of understanding for the establishment of wind plants with a capacity of 28 thousand MW in addition to about 11 thousand MW solar, part of which will be established in the new allocated lands.
National Green Hydrogen Strategy
According to the Ministry of Electricity and Renewable Energy, the national strategy for low carbon hydrogen aims to make Egypt one of the leading countries in the low carbon hydrogen economy globally. The strategy is based on the gradual expansion of the local use of low carbon hydrogen, increasing the production capacities of hydrogen and its derivatives, and the use of low carbon hydrogen in all sectors, especially industry and transport.
The strategy aims to unify the efforts of the State to stimulate investment in the field of green hydrogen and its derivatives, in line with the requirements of sustainable development and the State's plans for economic and social development, and to ensure competitiveness at the regional and international levels.
Egypt established the National Council for Green Hydrogen and its Derivatives in September 2022 with the aim of unifying the efforts of the state to stimulate investment in the field of green hydrogen and its derivatives, in line with the requirements of sustainable development and the state ’ s plans for economic and social development, and to ensure competitiveness at the regional and international levels.
On 27 / 2 / 2024, the Supreme Council of Energy, headed by Dr. Mostafa Madbouly, adopted the National Strategy for Low Carbon Hydrogen, making Egypt one of the leading countries in the low carbon hydrogen economy in the world.
Objectives of the Strategy
• Increase the share of renewable energy in the electricity mix to more than 42% by 2030.
Issuing approvals for the establishment of green low-carbon hydrogen and its derivatives projects and granting them the necessary incentives to attract more investments in this vital field.
* To make Egypt one of the leading countries in the low-carbon hydrogen economy globally, through the use of world-leading expertise and innovations in the production of hydrogen and its derivatives, and promising renewable energy sources.
* The gradual expansion of the domestic use of low-carbon hydrogen, with increased production capacities of hydrogen and its derivatives, to the use of low-carbon hydrogen in all sectors, especially industry and transport.
* Export the excess of low-carbon hydrogen, above the domestic market share of global markets.
Unify the efforts of the State to stimulate investment in the field of green low-carbon hydrogen and its derivatives, in line with the requirements of sustainable development and the State's plans for economic and social development, and ensure competitiveness at the regional and international levels.
* Producing low-carbon green hydrogen using 100% renewable energy.
Egypt has signed several agreements for hydrogen production projects, the latest of which was announced by the Cabinet of Ministers to sign an agreement with Saudi ACWA Power to develop a green hydrogen project with investments exceeding $4 billion.
The statement added that after this agreement, an action plan will be developed to develop the first phase of the green hydrogen project, with a production capacity of up to 600 thousand tons per year of green ammonia.
Egyptian Prime Minister Dr. Mostafa Madbouly witnessed the signing ceremony, in the presence of Minister of Electricity and Renewable Energy Dr. Mohamed Shaker, Minister of Planning and Economic Development Dr. Hala Al-Saeed, CEO of ACWA Power Marco Archili, and Chairman of the Suez Canal Economic Zone Walid Gamaleldin.

The country's installed renewable energy capacity is 6,600 MW, and 27 memorandums of understanding have been signed for 114 GW capacity.

The UAE solar energy market is expected to grow 35% annually until 2029, with the country aiming to inject 150-200 billion dirhams in renewable energy.

Title:

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

The Mohammed bin Rashid Al Maktoum Solar Park is expected to produce 5,000 megawatts, with total investment in the park reaching AED 50 billion.

The park is expected to reduce 6.5 million tonnes of carbon emissions annually, and the UAE aims to triple its renewable energy contribution by 2030.

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

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

The UAE is the top Arab country producing electricity from solar energy, while Egypt is the largest Arab country producing electricity from wind energy.

The Arab Renewable Energy Authority expects 45 gigawatts of renewable energy capacity by 2027, with $1 trillion investments in renewable energy projects expected by 2040 in Arab countries.

The UAE has launched several renewable energy projects, including the Al Dhafra solar farm, which has a power of 2 GW.

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

Saudi Arabia has the cheapest solar electricity in the world, making it an attractive location for renewable energy investments.

The Middle East region has excellent wind resources, despite the lack of consistency, with Egypt planning to build a 10 GW wind farm with Masdar.

Oman targets 16% of electricity from renewables by 2025 and 30% by 2030, with a focus on solar PV and onshore wind.

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

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

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

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

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

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

The UAE aims to invest $54.5 billion in renewable energy and has launched a number of initiatives to support the growth of the renewable energy sector.

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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.

The UAE offers financial incentives for renewable energy projects, while Jordan provides financial facilities to investors for solar power.

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

The Gulf countries offer attractive green hydrogen production incentives, with governments financing investments in the renewable energy sector.

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Content: ...
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Energy.
Gulf countries most attractive globally for green hydrogen production
Governments play a role in financing investments in the sector
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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 region is expected to be a source of 10 to 20 percent of the global hydrogen market by 2050, with hydrogen expected to generate annual revenues of $120 billion to $200 billion.

Green finance in the MENA region reached $3.8 billion in 2020, with significant growth seen in 2022 in Turkey, UAE, Egypt, and Saudi Arabia.

The UAE aims to achieve net zero emissions by 2050, while Saudi Arabia targets carbon neutrality by 2060, with Egypt aiming for 42% renewable energy by 2035.

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