The Middle East is shifting towards solar energy and other renewables as part of its energy transition.

The UAE aims to triple its renewable energy production and cut CO2 intensity by 40% by 2030.

The UAE aims to provide 100% of its energy from clean sources by 2050, with projects like the Mohammed bin Rashid Al Maktoum Solar Park already showing significant progress.

Saudi Arabia and Egypt are investing heavily in renewables, aiming for net zero emissions by 2060 and 42% renewable electricity by 2035, respectively.

The region's energy transition is expected to create new job opportunities and stimulate economic growth.

The transition poses challenges, including needing new infrastructure and potential fossil fuel job losses.

Governments in the region are implementing policies like tax exemptions and subsidies to support the energy transition.

The UAE aims to produce 1.4 million metric tons of hydrogen annually by 2031 under its National Hydrogen Strategy.

Egypt has launched initiatives like the Sustainable Energy Strategy 2035 and Climate Strategy 2050 to promote green investments and reduce emissions.

The MENA region receives 22-26% of global solar radiation and is expected to supply 10-20% of the global hydrogen market by 2050.

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

The region can learn from countries like China, which has advanced renewable energy technology and a clean energy training center.

The global focus on energy transition is driving growth, with Abu Dhabi set to host the world's largest solar plant and global renewable energy investment expected to reach $494 billion in 2022.

The Middle East's energy transition strategies focus on diversifying energy sources, increasing renewables, and reducing emissions.

The Middle East is shifting towards solar energy and other renewables as part of its energy transition.

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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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The UAE aims to triple its renewable energy production and cut CO2 intensity by 40% by 2030.

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Content: Sunday 26 March 2023 Abu Dhabi UAE
Prayer times
News Highlights
Today 's Issue
Today 's Issue
The Role of Solar Energy in Changing the Future of the UAE ’ s Energy Sector
The Role of Solar Energy in Changing the Future of the UAE ’ s Energy Sector
March 26, 2023 02: 39
Othman Juma Al Ali *
The UAE has a huge potential in the field of solar energy, with more than 90% of its land area capable of producing solar energy efficiently, making it one of the leading countries in this field globally.
In recent years, the importance of balancing the three most important pillars in the energy sector has been highlighted: first, security, reliability and reliability of supplies and systems, second, economic and cost of electricity services, and third, environmental and sustainability requirements and standards.
These axes constitute the most prominent challenges facing the world today, despite the seriousness of efforts and intentions in the field of sustainability, but they remain the main priorities that cannot be compromised and must be taken seriously and carefully.
EWEC continues to drive the development of pioneering global strategic projects that will enhance the UAE ’ s journey towards a more sustainable future and make it a model for sustainable, efficient and efficient water and electricity production.
By 2030, we will see a 600% surge in EWEC solar power plants with installed capacity of 7.3 GW. During this period, the average CO2 intensity of electricity generation will be reduced by more than 40%. We will continue to invest in reverse osmosis desalination plants to increase the production of low-carbon water.
Abu Dhabi is currently home to the world ’ s largest single-site solar power plant, Noor Abu Dhabi, with a capacity of 1 GW (AC), and the Al Dhafra 1.5 GW (AC) solar PV plant, which will be the world ’ s largest single-site PV plant once it enters commercial operation, is under development.
The 1.5 gigawatt (GW) Al Ajban Solar PV Plant is our third solar PV plant and, once commercially operational, will generate enough electricity for 160,000 homes and reduce Abu Dhabi ’ s CO2 emissions by more than 2.4 million tonnes per year, equal in size and capacity to Al Dhafra Solar Power Plant.
Our growing portfolio of renewable and clean energy projects accelerates efforts to reduce and decarbonize the UAE ’ s energy sector, in line with the Strategic Initiative to Achieve Climate Neutrality by 2050, and supports the requirements to achieve the Department of Energy ’ s Clean Energy Targets – Abu Dhabi 2035.
Increasing solar power generation capacity is one of our top strategic priorities to achieve the country ’ s sustainability goals.
EWEC continues to lead the transformation of the energy sector and is responsible for ensuring the economic, sustainable and reliable supply of water and electricity in Abu Dhabi and the UAE.
In the next 10 years we will work to increase the production capacity of solar energy, we have the necessary solutions, and our latest report outlines the road map for its implementation.
Through innovation and collaboration, we will make solar energy the cornerstone of the UAE ’ s energy mix and contribute to the country ’ s strategic initiative to achieve climate neutrality by 2050.
* Chief Executive Officer, Emirates Water and Electricity Company
All rights reserved to Al Ittihad Newspaper 2023 ©

The UAE aims to provide 100% of its energy from clean sources by 2050, with projects like the Mohammed bin Rashid Al Maktoum Solar Park already showing significant progress.

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Content: 00: 00
Expo 2020 Dubai Today
Dubai Electricity: Global achievements support the march of excellence and competitiveness of the UAE
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Since its establishment on January 1, 1992, DEWA has been guided by the vision of the Founding Fathers and the directives of the wise leadership to promote the comprehensive and sustainable development of the UAE, which has flourished over 50 years of global achievements and gains, and heralds the next 50 years full of prosperity and prosperity.
The Authority has achieved significant achievements that have made it one of the best service institutions in the world, providing services to more than one million customers in Dubai.
DEWA has a world-class infrastructure with assets of AED 200 billion and investments of more than AED 86 billion over five years to meet the growing demand for electricity and water in the emirate through a clear strategy and roadmap to transform Dubai into a centre of excellence in new technologies necessary to achieve the Dubai Clean Energy Strategy 2050 and Dubai Carbon Neutrality Initiative to provide 100% of energy production capacity from clean energy sources by 2050.
HE Saeed Mohammed Al Tayer, Managing Director and Chief Executive Officer of DEWA, said: “DEWA is working to provide advanced infrastructure according to the highest international standards, and raise the capacity and efficiency of production stations and transmission and distribution networks to provide electricity and water services according to the highest standards of availability, reliability, efficiency and sustainability.
Sustainability
H.E. Al Tayer added: “As part of its vision as a world leading sustainable and innovative institution, DEWA seeks to contribute to the achievement of the United Nations Sustainable Development Goals 2030 and promote sustainability in all its environmental, social and economic aspects, in line with the directives of His Highness Sheikh Khalifa bin Zayed Al Nahyan, President of the UAE, His Highness Sheikh Mohammed bin Rashid Al Maktoum, Abu Dhabi, Deputy Supreme Commander of the UAE Armed Forces, has pledged to make the UAE the best country in the world by its centenary in 2071.
Thanks to the support of the wise leadership, DEWA ’ s installed capacity reached 13,417 megawatts of electricity and 490 million gallons of desalinated water per day.
The share of clean energy in Dubai is 11.38% of the total energy mix, which represents a great success for the Emirate of Dubai, where the emirate exceeded the proportion set in the Dubai Clean Energy Strategy 2050, where the target was to provide 7% of energy production capacity from clean energy sources by 2020.
Dubai achieved a 33 per cent reduction in carbon emissions in 2020, more than doubling the target of the Dubai Carbon Reduction Strategy 2021, which aims to reduce emissions by 16 per cent by 2021.
Dubai has become a role model in the field of clean and renewable energy, sustainability, green economy, reducing carbon emissions and finding sustainable solutions to reduce the negative effects of climate change.
Excellence.
He added that the authority achieved superior levels in the global competitiveness indicators, including raising the efficiency of fuel consumption in production units to about 90% to compete with the best international standards, and improving production efficiency by 33.41% between 2006 and 2020.
The availability and reliability of production plants in the summer reached 99.66% and 99.98%, respectively, which are among the highest in the world.
The authority outperformed the elite European and American companies, reducing the percentage of losses in electricity transmission and distribution networks to 3.3% compared to 6-7% in Europe and the United States.
It was also able to achieve the best global results in the rate of electricity cuts per subscriber per year, which amounted to 1.66 minutes per subscriber compared to 15 minutes recorded by the elite electricity companies in the European Union countries.
The agency also managed to reduce water network losses to 5.1% compared to 15% in North America.
Some of the most prominent stations in the course of the Authority over the past 29 years are:
Mohammed Bin Rashid Al Maktoum Solar Park
The Mohammed bin Rashid Al Maktoum Solar Park is the world ’ s largest single-site solar energy project with an independent product system.
The solar energy projects currently in operation in the complex have a capacity of 1,527 MW with solar PV panels, and the Authority currently has 1,333 MW projects under implementation with PV and CSP technologies, in addition to other future phases to reach 5,000 MW by 2030.
The Authority is seeking to set two new Guinness World Records for the highest solar tower in the world at 262.44 meters and the largest power plant using concentrated solar power with a capacity of 700 MW, within the fourth phase of the complex.
The park includes the Innovation Centre, which is a global platform for renewable and clean energy innovations and will contribute to shaping the world ’ s sustainable energy future.
The complex also includes a research and development center that supports DEWA ’ s efforts to look to the future, develop long-term proactive plans to keep pace with the Fourth Industrial Revolution and innovate disruptive technologies that provide world-class services that enhance the quality of life in Dubai.
The Authority entered the Guinness Book of Records for the first 3D printing laboratory in the world, as well as the robotics and drones laboratory at the Center.
Dubai Electricity and Water Authority (DEWA) Space Program (SpaceD)
The DEWA Space Program enhances operational efficiency and effectiveness, including preventive maintenance of the electricity and water networks (planning, production, transmission and distribution). It also contributes to the flexibility and agility of monitoring and control of the electricity and water networks, accurate and rapid monitoring of the impacts of weather events and climate change on energy supply and infrastructure, including desalination.
The performance and efficiency of the solar PV panels at the Mohammed bin Rashid Al Maktoum Solar Park will be monitored through special cameras located on the main satellite and examine the impact of weather events and climate change on energy infrastructure and supply.
The project includes the launch of satellites supporting the main satellite and will be manufactured by UAE hands at the Research and Development Centre.
The system includes a satellite ground station and ground transmission stations that use Internet of Things (IoT) and artificial intelligence (AI) technologies through sensors distributed over different locations of the network.
Green Hydrogen
DEWA has launched the “Green Hydrogen ” project, the first of its kind in the Middle East and North Africa region to produce green hydrogen using solar energy, at the Mohammed bin Rashid Al Maktoum Solar Park.
The plant is designed and built to be able to accommodate future applications and test platforms for various uses of hydrogen including mobility and industrial uses.
The pilot project was implemented in collaboration with DEWA, Expo 2020 Dubai and Siemens Energy.
Development Projects in Hatta
The Authority is working on pioneering and innovative projects, the most important of which is a 250MW hydroelectric power plant in Hatta, which is the first of its kind in the Arabian Gulf region, with a storage capacity of 1,500 MWh and a life expectancy of 80 years, with investments of about AED 1.421 billion.
The Authority is currently considering a project to generate electricity through wind power in the Hatta region.
In furtherance of Hatta ’ s position as one of the most prominent tourist attractions in the Emirate of Dubai, DEWA is implementing the “Dubai Summit ” project, which includes the construction of a 5.4-kilometer cable car to transport tourists from the Hatta Dam to the Umm Al Nsour summit in Hatta, the highest natural peak in the Emirate of Dubai, with a height of 1,300 meters above sea level. Cars under the dam, develop the area and turn it into recreational spaces, cafes and restaurants.
Jebel Ali Power & Desalination Plant Complex
Dubai Electricity and Water Authority (DEWA) ’ s Jebel Ali Power and Desalination Park is one of the main pillars of providing Dubai with reliable, efficient and high-quality electricity and water services. DEWA has entered the Guinness Book of World Records for the largest single-site natural gas power production facility – with a capacity of 9,547 MW – in the complex, which includes two main power and desalination plants. E, G and « Production Complex 2 » with a production capacity of 6.786 MW and includes stations K, L and M.
The most prominent companies of Dubai Electricity and Water Authority.
Although DEWA ’ s main area of business is the production and supply of electricity and water, DEWA has many other commercial activities related to its main scope of business, including: Emirates Central Cooling Systems Corporation (Empower), Mai Dubai; Union Energy Services Company (Etihad ESCO), Dewa Digital, Moro Data Center for Integrated Solutions, Jumeirah International Energy Company, Shuaa Energy Company 1, Shuaa Energy Holding Company 2, and Hasaa Energy Company. Yann Energy Holdings, Noor Energy Holdings 1, Shuaa Energy Holdings 3, Dubai Green Fund Investments, and Forward Ventures.
DEWA Digital
As part of the Dubai 10X initiative to develop the services of the Government of Dubai to implement today what other cities of the world will do 10 years later, DEWA launched DEWA Digital, the digital arm of Dubai Electricity and Water Authority.
Through this initiative, the Authority intends to replace and change the operational model of service institutions, and to become the first digital institution in the world, with autonomous systems for renewable energy and storage, with the expansion of the use of artificial intelligence and digital services.
Dewa Digital includes Moro as well as four recently established companies: Digital X and Infra X.
Expo 2020 Dubai
DEWA ’ s participation in Expo 2020 Dubai is divided into two parts, as DEWA is the official sustainable energy partner of Expo 2020 Dubai, and it also participates in a special pavilion at the exhibition.
DEWA has allocated 4.26 billion dirhams to support electricity and water infrastructure projects at Expo 2020 using the latest smart systems, in addition to providing Expo 2020 with clean energy from the Mohammed bin Rashid Al Maktoum Solar Park.
DEWA has also installed 19 green charger stations to charge electric vehicles at multiple locations on the Expo 2020 site.
WETEX and Dubai Solar Energy
The Water, Energy and Environment Technology Exhibition (WETEX) and Dubai Solar is the largest exhibition of its kind in the region, and one of the most prominent international exhibitions specialized in the fields of water, electricity, energy, environment, oil and gas, renewable energy and environmental sustainability.
The exhibition has set several strategic objectives that have been achieved on the ground to contribute to the promotion of sustainable development and the building of a green economy in the UAE over the past 22 years, and become an integrated platform for companies and institutions operating in these sectors to promote their products, services and innovative technologies. decision from the public and private sectors.
WETEX and Dubai Solar 2021 attracted 1,200 companies from 55 countries, 61 sponsors, 10 country pavilions and 45,506 visitors from around the world.
During the exhibition, the Authority organized 56 seminars and specialized discussion sessions, with the participation of a group of experts and specialists from around the world.
Global Green Economy Summit
The World Green Economy Summit, organized by Dubai Electricity and Water Authority (DEWA) and the World Green Economy Organization (WGEO) in cooperation with the Dubai Supreme Council of Energy and the United Nations Development Programme (UNDP), is an important global platform to promote partnerships and exchange experiences among key decision-makers and support cooperation between regional and international institutions and organizations from the public and private sectors.
The summit is a strategic platform to support international cooperation in addressing global challenges and promoting sustainable development and investments in the green economy.
Since its launch in 2014, the summit has achieved significant development and achievements through the adoption of policies, plans and initiatives to enhance international cooperation between the participants from business leaders and global experts from the public and private sectors.
World Green Economy Organization
His Highness Sheikh Mohammed bin Rashid Al Maktoum launched the World Green Economy Organization (WGEO) in collaboration with the United Nations Development Programme (UNDP) in October 2016, during the World Green Economy Summit in Dubai, to promote the transition to green economy, spread green economy projects globally and support countries and organizations seeking to achieve their green strategy and plans.
Together with the UAE Ministry of Climate Change and Environment, and in collaboration with leading organizations including the United Nations Development Programme (UNDP), the United Nations Environment Programme (UNEP), the United Nations Framework Convention on Climate Change (UNFCCC) and the World Bank Group, the World Green Economy Organization (WGEO) is co-organizing Regional Climate Week 2022 for countries in the Middle East and North Africa.
The UAE will host this event from February 28 to March 2, 2022, during the organization of Expo 2020 Dubai, to boost the momentum of climate action in the Middle East and North Africa region.
« Solar Decathlon - Middle East »
DEWA organized the first and second editions of the Global Universities Competition for Solar Home Design (Solar Decathlon – Middle East), for the first time in the Middle East and Africa, with total prizes of more than AED 20 million.
The competition was held under the patronage of His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum and organized by Dubai Electricity and Water Authority (DEWA) as part of the partnership between the Dubai Supreme Council of Energy and DEWA with the US Department of Energy.
The competition aims to encourage university students to design, build and operate smart and sustainable models of solar powered homes that are cost-effective and energy-efficient, with a focus on environmental conservation and taking into account the climatic conditions of the region.
Digital Transformation
The smart adoption rate of DEWA ’ s services reached 98.92% in the third quarter of 2021, and DEWA received a stamp (100% paperless) from Dubai Digital Corporation in recognition of its success in completing the digital transformation of all its operations and services by 100%.
The Authority provides all its services through its website and smart application.
The Authority has completed digital integration with more than 30 entities, and the number of smart transactions completed since 2017 until the end of September 2021 reached about 41 million transactions.
Over the past years, DEWA has achieved many successes and achievements that have placed it among the most distinguished institutions in the world, including:
More than 348 awards: The Authority won 348 awards (62 local, 63 regional, 223 international) from 2015 until the first half of last year.
Shams Dubai: The ‘ Shams Dubai ’ initiative launched by the Authority supports the ‘ Smart Dubai ’ initiative, which aims to make Dubai the smartest and happiest city in the world.
The initiative aims to encourage homeowners and building owners in Dubai to produce their energy needs using solar panels that are installed on the roofs of buildings and connect the systems to DEWA ’ s grid.
As of December 8, 2021, DEWA ’ s network has been connected to more than 6,896 rooftop solar systems in Dubai, comprising residential, commercial and industrial buildings, with a total capacity of 379.3 MW.
Smart Grid: Smart Grid is a cornerstone of DEWA ’ s strategy to develop advanced infrastructure that supports Smart Dubai ’ s initiative to transform Dubai into the smartest and happiest city in the world.
DEWA has completed the installation of more than two million smart meters for electricity and water in Dubai, which contributes to raising efficiency and rationalizing consumption, in addition to enabling customers to monitor their consumption at any time and from anywhere.
Green Charger: The Green Charger initiative to create electric vehicle infrastructure promotes sustainable mobility and supports Dubai ’ s Green Mobility initiative in the emirate as a pillar of the smart city.
DEWA has completed the installation of more than 320 electric vehicle chargers across Dubai to encourage the public to use eco-friendly electric vehicles.
The best global ratios in health, safety and environment: TRA places the culture of health, safety and environment at the top of its priorities, and is keen to fully comply with security and safety standards, which exceeded 96% of the zero environmental violations, thus recording the best global ratios in this field.
Rationalization of consumption: Rationalization programs and initiatives launched by DEWA throughout the year contribute to significant savings in electricity and water consumption among the target groups. Between 2011 and 2020, cumulative savings as a result of DEWA initiatives amounted to 2.44 TWh of electricity and 6.7 billion gallons of water equivalent to 1.35 billion dirhams. These savings contributed to reducing 1.22 million tons of carbon emissions.
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Saudi Arabia and Egypt are investing heavily in renewables, aiming for net zero emissions by 2060 and 42% renewable electricity by 2035, respectively.

Title:

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Updated: October 19, 2022, 10:41 AM
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The region's energy transition is expected to create new job opportunities and stimulate economic growth.

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

The transition poses challenges, including needing new infrastructure and potential fossil fuel job losses.

Title:

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

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

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

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

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

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

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

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

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

Regulatory frameworks

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

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

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

Data availability

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

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

ESG talent gap

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

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

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

Implementation by region’s corporates

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

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

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

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

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

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

Governments in the region are implementing policies like tax exemptions and subsidies to support the energy transition.

Title:

Content: Egypt ’ s move towards renewable energy represents a major shift in its energy policy, reflecting global sustainability trends and local environmental needs.
This detailed analysis explores Egypt ’ s legal framework for renewable energy projects, highlighting growth opportunities and regulatory challenges that must be overcome.
Aspirations for renewable energy and strategic plans
Egypt has set targets looking to increase its renewable energy production in line with global initiatives such as the Paris Agreement to combat climate change, and this commitment is reflected in Egypt ’ s strategic plans, which outline the goals and mechanisms needed to integrate renewable energy into the national electricity grid.
The legal framework governing renewable energy in Egypt
Central to Egypt ’ s renewable energy policy is the Electricity Law No. 87 of 2015 and its subsequent amendments. These legal provisions create a regulated environment for the development and regulation of renewable energy sources. The law gives the Egyptian Electricity Regulatory Authority the authority to oversee and implement regulations, ensuring effective and sustainable management of the sector ’ s growth.
Government incentives and international cooperation
The Egyptian government has provided various incentives under these laws to encourage investment in the renewable energy sector, including tax exemptions, tariff exemptions, and other financial incentives designed to make renewable energy projects more feasible and attractive to investors.
Emerging investment landscape in renewable energy
Egypt ’ s move towards renewable energy has opened up new investment opportunities, especially in the solar and wind sectors, as the liberalization of the energy market has made it accessible to private investors, both local and international. Successful renewable energy projects in Egypt are a testament to the sector ’ s potential, as they provide useful insights into market dynamics and future growth trajectory.
Detailed legal framework for renewable energy
The Electricity Law No. 87 of 2015 and its amendments form the basic legal structure governing the production, distribution and regulation of electricity, including renewable energy. This law defines the roles of various government agencies, such as the Egyptian Electricity Regulatory Authority (ERA), in overseeing the sector, paving the way for private sector participation and introducing regulatory mechanisms such as feed-in tariffs, which have been effective in attracting investments.
Renewable Energy Law and Investment Law
Egypt ’ s Renewable Energy Law and Investment Law form an important part of the state ’ s approach to advancing the renewable energy sector, and the Renewable Energy Law specifically addresses the development, promotion and use of renewable energy sources such as solar, wind and hydropower.
It also provides a legal framework for various renewable energy initiatives, detailing the responsibilities of both public and private entities involved in the production and distribution of renewable energy, and plays a key role in establishing regulatory mechanisms, including the establishment of feed-in tariffs, which are designed to offer attractive prices for renewable energy that feeds the national grid, thus stimulating private investment.
The Investment Law, especially Law No. 72 of 2017, complements the Renewable Energy Law by providing a set of financial incentives to promote investment in the renewable energy sector, including tax exemptions, where new investments in renewable energy can be exempted from certain taxes for a specific period.
In addition, the law provides for lower tax rates on profits generated by renewable energy projects, making these projects more financially attractive, and other benefits under the investment law may include exemptions from customs duties and other fees on equipment and machinery imported for use in renewable energy projects.
Together, these laws aim to create a supportive and financially viable environment for renewable energy projects and encourage local and international investors to participate in Egypt ’ s renewable energy sector. The government ’ s focus is not only to increase renewable energy production, but also to ensure that these projects contribute to sustainable economic growth and environmental conservation.
Regulatory Challenges and Bureaucratic Obstacles
Despite the supportive legal framework, developers often face challenges in dealing with the bureaucratic landscape, where the process of obtaining licenses and approvals can be complex, involve multiple government bodies and rigorous environmental assessments, and delays in these processes can hinder project timelines and affect the overall viability of renewable energy projects.
Andersen Egypt has expertise in liaising with government bodies and obtaining the necessary permits and approvals for large-scale renewable energy projects.
Environmental impact assessments and approvals
Despite the supportive legal framework, developers often face challenges in dealing with the bureaucratic landscape, where the process of obtaining licenses and approvals can be complex, involve multiple government bodies and rigorous environmental assessments, and delays in these processes can hinder project timelines and affect the overall viability of renewable energy projects.
Andersen Egypt has expertise in liaising with government bodies and obtaining the necessary permits and approvals for large-scale renewable energy projects.
Environmental impact assessments and approvals
Despite the supportive legal framework, developers often face challenges in dealing with the bureaucratic landscape, where the process of obtaining licenses and approvals can be complex, involve multiple government bodies and rigorous environmental assessments, and delays in these processes can hinder project timelines and affect the overall viability of renewable energy projects.
Andersen Egypt has expertise in liaising with government bodies and obtaining the necessary permits and approvals for large-scale renewable energy projects.
Environmental impact assessments and approvals
EIA ensures that environmental considerations are integrated into project planning and implementation. Obtaining approval for EIA can be a major hurdle, and requires thorough documentation and adherence to environmental standards.
Incentives to develop renewable energy
The Egyptian government offers several incentives to encourage the development of renewable energy in Egypt. These include tax incentives, duty exemptions and preferential tariffs under the “feed-in tariff ” system. These incentives aim to ease the financial burden on developers and make renewable energy projects more economically viable.
The following incentives can also be applied to large-scale renewable energy projects in Egypt:
A feed-in tariff system (FiTs) is a system of prices set by the Egyptian government that allows producers to sell renewable energy to the national grid, providing long-term contracts and ensuring a stable and predictable revenue stream for renewable energy projects.
• Tax incentives: Reductions in corporate income tax rates, exemptions from customs duties and sales taxes on imported renewable energy equipment, and other tax-related benefits are available to encourage investment in renewable energy
• Government subsidies and grants: direct financial contributions to reduce the initial capital costs of establishing renewable energy projects.
Land allocation: The government may offer land at subsidized prices or on special terms for the construction of renewable energy facilities, especially in areas with high renewable energy potential.
Regulatory support: Simplified approval and licensing procedures help reduce bureaucratic hurdles and accelerate the implementation of renewable energy projects.
Opportunities in the Renewable Energy Sector
Egypt ’ s evolving legal and regulatory environment offers significant opportunities for growth in the renewable energy sector. The government ’ s commitment to increasing renewable energy production has opened up prospects for investment, especially in solar and wind power. The sector ’ s potential is further enhanced by Egypt ’ s geographical advantages, such as high solar radiation and favorable wind conditions.
Challenges in Egypt ’ s Renewable Energy Sector
Dealing with the regulatory environment for renewable energy projects in Egypt poses many challenges.
They include:
Complex approval processes: Obtaining the necessary permits and approvals can be time-consuming and complex, involving multiple government bodies.
Infrastructure Development: Adequate infrastructure is still being developed to support renewable energy projects, including grid connectivity.
Despite government incentives, securing financing for renewable energy projects can be difficult due to anticipated risks and high upfront costs.
Market volatility: The renewable energy market is subject to fluctuations in technology costs, global energy prices and policy changes, which may affect the viability of the project.
• Technological advancements: Keeping pace with rapid technological advances in renewable energy while complying with regulatory standards is a major challenge.
Opportunities for growth and development
Despite these challenges, Egypt ’ s renewable energy sector offers many opportunities:
Government support and incentives: Strong government support for renewable energy, manifested in its legal framework and incentives, creates an enabling environment for growth.
Geographical advantages: Egypt ’ s geographical location provides an abundance of solar and wind energy resources, making it an ideal location for renewable energy projects.
• Private sector participation: The liberalization of the energy market has opened doors for private sector investment, both domestically and internationally.
• Sustainable Development Goals: In line with global sustainability goals, renewable energy projects in Egypt contribute to environmental conservation and economic diversification.
• Job creation and economic growth: The renewable energy sector has the potential to create jobs and stimulate economic growth, contributing to the overall development of Egypt.
Concluding remarks
The Egyptian legal framework for renewable energy projects, which is characterized by a mixture of opportunities and challenges, is a reflection of the country ’ s commitment to sustainable energy development, and although dealing with the regulatory trend may be complicated, the potential rewards and opportunities to achieve the desired goals are great.
As Egypt continues to improve its legal and regulatory environment, maintaining flexibility will be key for companies looking to take advantage of opportunities in this dynamic sector.
The content of this article is intended to provide a general guide to the subject matter.
Specialist advice should be sought about your specific circumstances.

The UAE aims to produce 1.4 million metric tons of hydrogen annually by 2031 under its National Hydrogen Strategy.

Title:

Content: Urgent.
Chairman of Wafd Party
Dr. Abdul Sindh Yamama
Chairman of the Board of Directors
Dr. Ayman is an accountant.
Editor-in-Chief
I'm sorry.
My grandfather, Zainuddin.
Chairman of Wafd Party
Dr. Abdul Sindh Yamama
Chairman of the Board of Directors
Dr. Ayman is an accountant.
Editor-in-Chief
I'm sorry.
My grandfather, Zainuddin.
UAE Energy Minister: Joint international action essential for fair and sustainable transition to clean energy
UAE Minister of Energy and Infrastructure Suhail bin Mohammed Faraj Faris Al Mazrouei stressed the importance of joint international action to achieve tangible progress in a just and sustainable transition towards clean energy, which is an urgent necessity and of global importance to enhance global energy security and climate action.
This came during the participation of the UAE minister in the activities of the special meeting of the World Economic Forum, which is hosted by the Saudi capital "Riyadh" under the slogan "International cooperation, growth and energy for development", according to the UAE news agency "WAM" on Monday.
Al Mazrouei explained that the UAE aims through its hydrogen strategy to produce 1.4 million metric tons of hydrogen annually by 2031 to produce 15 million metric tons annually in 2050, in addition to reducing emissions in intensive industrial sectors by 100 percent.
The Minister of Energy identified a number of key factors that will make the transition towards green energy a success, most notably international cooperation, strengthening institutional participation (governmental, academic, commercial and industrial) in leading the transformation, creating real public-private partnerships, and developing major projects that can make tangible progress in the development of supply chain and infrastructure.
On the policies and systems that must be worked on to strengthen the position of hydrogen in the future energy mix, he stressed the need to work hard to develop a clear regulatory framework for hydrogen, provide strong political incentives to accelerate investment and increase confidence, establish standards and regulations related to hydrogen to establish a certificate scheme "guarantee of origin", in addition to the need to evaluate policy measures such as carbon pricing mechanisms.
UAE confirms follow up of recovery efforts after latest weather situation ends
The UAE has confirmed its success in achieving an effective response in the face of the recent weather situation, in an effort to restore normal life.
This came as a result of the response procedures and mechanisms implemented by the field work teams under the directives of the wise leadership, which ordered the harnessing of all capabilities in order to provide all means of security and safety for UAE citizens, residents and visitors as the human being is the focus of the country ’ s attention and care.

Egypt has launched initiatives like the Sustainable Energy Strategy 2035 and Climate Strategy 2050 to promote green investments and reduce emissions.

Title:

Content: Chairman of the Board of Directors and Editors
I'm sorry.
Mohamad Elbaz
Chairman of the Board of Directors and Editors
I'm sorry.
Mohamad Elbaz
Constitution
Podcast
Egypt ’ s ranking in the Climate Performance Index
Ambitious plan to increase renewable energy production through Sustainable Energy Strategy 2035
The Egyptian Center for Thought and Strategic Studies pointed out that Egypt ’ s contribution to greenhouse carbon emissions is estimated at 0.6% of the global total, and therefore is not classified as a climate change-causing country, adding that most of the emissions come from the use of fossil fuels (oil and natural gas), which exceed 90% of the energy sources used in Egypt.
The Climate Performance Index (CCPI) has been issued annually since 2007 by non-governmental organizations Germanwatch, the International Climate Action Network and the New German Climate Institute. The CCPI assesses 63 countries and the European Union through quantitative data from internationally recognized institutions, mainly the International Energy Agency (IEA) and the International Committee on Climate Change (IPCC). Countries account for more than 90% of global greenhouse gas emissions.
The study pointed out that Egypt entered the index for the first time in 2012 and ranked 21st globally and is considered one of the countries with average performance in measures to reduce climate change, and despite its decline in the general index, its performance in the index categories varies between high and medium as a result of the wide measures taken by Egypt to promote investments in renewable energy and green hydrogen, as well as measures to reduce emissions in various sectors.
The study added that Egypt has set ambitious renewable energy targets by launching the recently updated Sustainable Energy Strategy 2035 to achieve its early targets of reaching a renewable energy participation rate of 42% in 2030, as well as announcing its Climate Strategy 2050, which can be considered as a comprehensive roadmap to effectively address the effects of climate change and its repercussions in the country.
The study stressed that there are serious steps in the transition towards the green economy and the achievement of the sustainable development goals, but it is still far from achieving the global goals and consolidating the concept of preserving the environment and climate in various aspects of the economy or daily life. To receive high capacities of variable renewable energy, or in storage and battery technologies when not connected to the grid, in addition to a change in societal perceptions for example to accept practices such as electric transport and the abandonment of traditional energy-intensive means of transport as well as the export of emissions.
All of them need billions of dollars that Egypt cannot currently save in the current global turmoil.

The MENA region receives 22-26% of global solar radiation and is expected to supply 10-20% of the global hydrogen market by 2050.

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

The region can learn from countries like China, which has advanced renewable energy technology and a clean energy training center.

Title:

Content: People 's Network > > International
Sino-Arab green transformation cooperation is on the rise
December 8, 2022, 13: 09 | Source: Xinhua Network
Small number
Xinhua News Agency, BEIJING, December 8 (International observation) Sino-Arab cooperation on green transformation is on the rise
Xinhua News Agency reporter Luo Guofang
China and Arab countries have different resource endowments and development paths, but they are in the key stage of green development transformation.
The pursuit of a common vision of sustainable development will push China and Argentina to move forward together in a cleaner, greener and low-carbon direction, and continuously deepen cooperation in related fields to benefit the people of China and Argentina.
Development Complementary Advantages
At present, China's development is changing from high-speed growth to high-quality development, and it is committed to energy transformation and clean development in the field of energy, and strives to build a clean, low-carbon, safe and efficient energy system.
At the same time, many Arab countries have also launched energy transformation plans in recent years, committed to the development of clean and renewable energy, and strive to reduce dependence on fossil fuels such as oil and natural gas, and promote sustainable economic development.
Saudi Arabia announced in its Vision 2030 development strategy that by 2030, the proportion of renewable energy in the country's energy mix will reach 50%.
The UAE ’ s Energy Strategy 2050 aims to increase the share of clean energy in the total energy mix to 50% by 2050.
Egypt plans to increase the share of clean energy generation to 40% by 2035.
The Arab region has one of the best solar and wind energy resource endowments in the world, and the development of clean and renewable energy has unique conditions.
According to a report released by the Global Energy Monitor in June this year, Arab countries in the Middle East and North Africa plan to add 73 gigawatts of utility-scale solar and wind capacity by 2030, more than five times the current installed capacity.
China has advanced technology and rich experience in the field of photovoltaic and wind power, and has complementary advantages with Arab countries in the field of clean and renewable energy.
Abu Dhabi Energy Director, Avida Murshid Maral, said that vigorously developing renewable energy has become a global trend, which creates a good opportunity for deepening Arab-Chinese energy cooperation.
Collaborating for a Green Transition
In recent years, China has actively expanded cooperation with Arab countries in the field of clean and renewable energy, and the two sides have jointly implemented a number of cooperation projects.
The Zafra Solar Power Station, about 35 kilometers from Abu Dhabi City, is the largest single photovoltaic power station in the world, with an installed capacity of 2 GW.
The solar power plant, which is contracted by a Chinese company, will help Abu Dhabi reduce carbon dioxide emissions by 2.4 million tons per year and play an important role in the sustainable development of the UAE's energy economy.
Saudi Arabia's Red Sea coast is creating a green new city, the project called the Red Sea New City, the future electricity supply will be 100% from clean energy.
The realization of this vision will not only rely on solar and wind energy, but also benefit from energy storage systems that can act as energy “cisterns ” and“ regulators, stabilizers ”.
The successful signing of the Red Sea New City energy storage project by Chinese enterprises will help Saudi Arabia to build a global clean energy and green economy center.
Abdullah Wadi, a researcher at the Saudi think tank Research and Knowledge Exchange Center, said that Saudi Arabia and China are committed to vigorously developing clean and renewable energy, and actively promoting relevant international cooperation, which has set a good example for the international community to work together to promote green and low-carbon development and jointly deal with various challenges and global issues facing mankind.
Helping Fishing Development
With the deepening of cooperation between China and Arab countries in clean energy, low-carbon economy and energy transition, China ’ s advanced technology in related fields has also entered Arab countries. China adheres to the concept of “teaching people to fish ” and helps Arab countries improve their independent development capabilities through multi-level cooperative research and training programs.
China and Arab countries jointly set up the China-Arab Clean Energy Training Center to jointly organize capacity-building activities in photovoltaic, solar thermal, wind power and smart grid.
China and Egypt have set up a Sino-Egyptian joint laboratory on renewable energy to carry out joint research, promote personnel training, and help Egypt strengthen scientific and technological capacity building.
Since its establishment in 2015, the China-Arab Technology Transfer Center has built eight bilateral technology transfer centers in Saudi Arabia, Jordan and other countries, forming a technology transfer cooperation network linking nearly 5,000 Chinese and foreign members.
“The development of zero-carbon and low-carbon energy technologies is of great significance.
These technologies align with our energy transition goals, make the energy industry more resilient and help us build a sustainable and peaceful future, ” said Maral.
(Editor: Jia Wenting, Liu Jieyan)
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The global focus on energy transition is driving growth, with Abu Dhabi set to host the world's largest solar plant and global renewable energy investment expected to reach $494 billion in 2022.

The Middle East's energy transition strategies focus on diversifying energy sources, increasing renewables, and reducing emissions.

Title:

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

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

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

By WAM

Published: Tue 18 Jan 2022, 11:12 PM

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

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

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

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

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

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

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

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

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

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

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

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

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

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