The Middle East is undergoing a significant transformation in its energy sector, with several countries investing heavily in solar energy as part of their energy transition strategies.

The region's total investment in solar energy is nearly $100 billion, with Saudi Arabia's sovereign fund investing $3 billion in solar projects.

The UAE is also a major player in the region's solar energy market, with the Mohammed bin Rashid Solar Park aiming to produce 5,000 megawatts by 2030.

Egypt is another key country in the region's energy transition, with the Benban Solar Park having a capacity of 1,800 megawatts and the Gulf of Suez Wind Power Project having a capacity of 1100 MW.

The region's renewable energy market is expected to grow 13.43% annually from 2023 to 2028, with the Middle East increasing its renewable energy capacity to 80 GW by 2030.

The International Energy Agency expects 107 gigawatts of solar capacity increase in 2023, with solar energy contributing two-thirds of growth this year.

Arab countries are expected to double their renewable energy capacity by 2030, with the Middle East set to grow its solar capacity by 500% by 2023.

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

Jordan has invested $4 billion in renewable energy over the past 10 years and ranks 15th globally in solar and wind energy.

The country's solar and wind power cover a third of its electricity needs, demonstrating the significant impact of renewable energy on the local economy.

Egypt has 30 solar energy companies, but the sector faces challenges such as dollar shortage and import issues.

The Benban Solar Complex in Egypt has a capacity of 1,465 megawatts and investments exceed $2 billion.

Tunisia has a 200 kilowatt floating solar power plant, and Morocco aims for 52% renewable energy by 2030.

Algeria targets 15,000 megawatts of solar power by 2035, while Morocco has 111 completed or ongoing renewable energy projects.

Egypt has approved a $635 million investment for 11 solar plants, which will construct 500 megawatts of solar power plants.

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

Masdar has launched solar projects in several countries, including Egypt, Jordan, and Uzbekistan, and aims for 100GW renewable energy capacity by 2030.

The company has signed agreements for 10GW wind project in Egypt and 2GW green hydrogen project in Egypt, demonstrating its commitment to renewable energy.

The UAE has 3,040 megawatts of solar capacity and ranks second in per capita solar energy consumption.

The Mohammed bin Rashid Solar Park in the UAE will produce 5,000 megawatts by 2030 and uses a parabolic trough system.

Injazzat has invested $35 million in Egypt for green projects, including a solar power plant in the Maghra region.

The company has also signed a $25 million agreement with Majid Al Futtaim Properties to implement solar power projects.

The National Bank finances solar energy systems at a 5% interest rate, making it more accessible for individuals and businesses to invest in renewable energy.

The Middle East leads in sustainable energy infrastructure, with countries like Saudi Arabia and the UAE at the forefront of solar energy development.

Larsen & Toubro has secured a 3.5 GW solar project in the Middle East, which will contribute to the region's growing renewable energy portfolio.

The UAE has 90% of its land area capable of producing solar energy efficiently and aims for a 600% surge in solar power by 2030.

The Middle East renewable energy market is expected to grow 13.43% annually from 2023 to 2028, with the region increasing its renewable energy capacity to 80 GW by 2030.

The Arab countries aim to triple global renewable energy capacity by 2030, which is expected to have a significant impact on the energy transition in the Middle East.

The region requires $4 trillion per year in the clean energy sector until 2030 to achieve its renewable energy goals.

Eight Arab countries are expected to lead the renewable energy trend, with the UAE and Egypt being top Arab countries in solar and wind energy production.

The renewable energy capacity in the Middle East increased by 12.8% in 2022, indicating a growing focus on clean energy in the region.

Arab countries' investments in renewable energy will reach $1 trillion by 2040, which will likely create new job opportunities and stimulate economic growth.

The UAE aims to increase clean energy to 50% by 2050, and reduce 70% of emissions by 2050 with green energy, which is expected to save the country $191 billion.

Saudi Arabia has pledged to reach net zero emissions by 2060, and the country plans to add 1 million barrels per day of energy by 2027.

The green transition is expected to create new jobs in Saudi Arabia and the UAE, with the two countries also expected to attract large investments in renewable energy.

The Gulf region's GDP is expected to jump to 4.3% in 2022, driven in part by the growth of the renewable energy and IT sectors.

The region is expected to create 225,000 jobs by 2030, with the renewable energy sector being a key driver of job creation.

Egypt has invested $84 billion in renewable energy projects, and the country aims to export clean energy to the world, which is expected to generate significant revenue.

The country has also signed 22 memorandums for green hydrogen development, and is promoting green data centers to reduce energy consumption.

Egypt is expected to lead the Middle East in clean energy production and export, and the country is expected to attract $45 billion in investments over four years.

The energy transition is expected to create 12 million jobs globally, with 4.3% increase in renewable energy jobs from 2019 to 2020.

The Middle East will witness a huge leap in renewable energy in the next 10 years, driven by government incentives and investments in clean energy.

Globally, $3 trillion will be invested in renewable energy over the next ten years, which is expected to create new industries, skills, and jobs.

The UAE sees the energy transition as an opportunity to diversify economic growth, and the country has been investing in solar and renewable space for 15 years.

Oman aims to increase electricity production from renewable sources to 30% by 2050, and the country targets zero carbon neutrality by 2050.

The IFC estimates $10.2 trillion in investment opportunities in low-carbon sectors by 2030, and 213 million jobs created in low-carbon sectors by 2030.

The GCC countries' combined GDP may reach $6 trillion by 2050, and a green growth strategy could increase GCC GDP to $13 trillion by 2050.

The Middle East needs 300 million jobs by 2050 to keep pace with population growth, and the new energy sector is expected to provide over 2 billion jobs in the coming years.

Morocco aims to create one million jobs in new energy over 30 years, and green development solutions can provide jobs for youth.

Renewable energy investments are expected to account for 34% of electricity investment in MENA by 2026, and the region is expected to be a source of 10-20% of the global hydrogen market by 2050.

Hydrogen is expected to generate $120-200 billion annual revenues by 2050, and the MENA region has 10% of global carbon capture and storage capabilities.

The Middle Eastern countries are incorporating energy storage solutions into their renewable energy plans to ensure grid stability and reliability.

Azelio's TES.POD system stores energy as heat in recycled aluminum, while Elum's ePowerControl MC maximizes PV penetration and integration.

The Dubai Electricity and Water Authority (DEWA) has launched a pilot project using lithium-ion batteries for energy storage.

The project uses Tesla's Li-ion battery systems with a 1.21 MW storage capacity and has a solar storage capacity of 15 hours.

Middle East countries are investing in electricity infrastructure development, with France supporting energy storage solutions in the region.

The UAE is hosting the UN Climate Conference in 2023, and French companies are offering innovative energy solutions to the region.

Jordan aims to reach 50% renewable energy by 2030 and has 2.6 gigawatts of renewable energy linked to the grid.

Egypt has signed a cooperation agreement for a 1 GW solar and 200 MWh battery storage project.

The project, financed by the African Development Bank Group, will enhance grid stability and provide reliable power.

Egypt and Saudi Arabia have signed cooperation memorandums for electricity exchange.

Uzbekistan aims to increase renewable energy to 40% by 2030, with the International Finance Corporation (IFC) supporting Uzbekistan's renewable energy development.

Battery energy storage systems are being integrated with solar power plants in Uzbekistan, expanding the scope of renewable energy.

The UAE's Eldavra photovoltaic power station reduces carbon emissions by 2.4 million tons per year.

The Middle East is undergoing a significant transformation in its energy sector, with several countries investing heavily in solar energy as part of their energy transition strategies.

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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 region's total investment in solar energy is nearly $100 billion, with Saudi Arabia's sovereign fund investing $3 billion in solar projects.

The UAE is also a major player in the region's solar energy market, with the Mohammed bin Rashid Solar Park aiming to produce 5,000 megawatts by 2030.

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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Egypt is another key country in the region's energy transition, with the Benban Solar Park having a capacity of 1,800 megawatts and the Gulf of Suez Wind Power Project having a capacity of 1100 MW.

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

The region's renewable energy market is expected to grow 13.43% annually from 2023 to 2028, with the Middle East increasing its renewable energy capacity to 80 GW by 2030.

The International Energy Agency expects 107 gigawatts of solar capacity increase in 2023, with solar energy contributing two-thirds of growth this year.

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Content: International Energy Agency: Record increase in renewables expected this year
Palestine Today - Gaza
11: 24 PM
01 June 2023
The International Energy Agency (IEA) said on Thursday that the potential of renewables will grow at a record pace this year, as rising fossil fuel prices and energy concerns fuel the deployment of solar and wind systems.
In an updated report on the sector, the agency said it expects additional global capacity to increase by 107 gigawatts to 440 gigawatts in 2023.
The agency ’ s executive director, Fatih Birol, said in a statement: “The world is poised to add a record amount of renewables to electricity systems – more than the total energy potential of Germany and Spain combined. ”
The world ’ s total renewable energy potential is expected to rise to 4,500 gigawatts next year, equivalent to the combined energy output of China and the United States, the IEA said.
China will solidify its position as a major driver of growth in the sector, contributing to 55 percent of global additions this year and next.
The International Energy Agency (IEA) said it had raised its forecast for renewable potential additions in Europe by 40 percent as countries stepped up efforts to seek alternatives to natural gas after the war in Ukraine.
The newly developed solar and wind energy potential is estimated to have saved EU electricity consumers 100 billion euros ($107 billion) between 2021 and 2023 by offsetting the most expensive fossil fuels, according to the agency, which advises developing countries.
“The global energy crisis has shown that renewables are essential to make energy supplies not only cleaner, but more affordable and secure, ” Birol said.
Additions of solar energy sources will contribute to two-thirds of the growth this year.
Solar PV plants are growing, while higher electricity prices are driving the growth of a small-scale rooftop solar panel system that has become “more financially attractive. ”
The IEA expects wind power production to rebound this year with year-on-year growth of 70 percent, after two years of sluggish growth.
According to Agence France-Presse, the increase is mainly due to the completion of projects delayed by COVID-19 restrictions in China and supply chain problems in the United States and Europe.

Arab countries are expected to double their renewable energy capacity by 2030, with the Middle East set 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 produces 2.6 gigawatts of solar electricity, while Egypt produces 1.9 gigawatts of solar electricity.

Jordan has invested $4 billion in renewable energy over the past 10 years and ranks 15th globally in solar and wind energy.

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Content: 4 billion "renewable" investment in 10 years
According to data presented by the International Finance Corporation (IFC), the cumulative investment in renewable energy projects in Jordan in 10 years exceeded $4 billion.
According to data recently presented by IDA, the investment arm of the World Bank, this value compares to zero investment in 2013, when the renewable energy law was introduced.
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According to the same data, Jordan ranked 15th globally and first in the Middle East in terms of the percentage of electricity obtained from solar and wind energy, and in 2013, before the start of these initiatives, it ranked 145th globally.
The company also pointed out that the establishment of this new market brings significant environmental benefits, as the proportion of carbon dioxide emissions in 2013 is stable, due to the lack of solar and wind energy projects, but declined by 3.3 million tons of carbon dioxide annually in 2022, due to the existence of these projects, which is equivalent to the withdrawal of 730,000 passenger cars from the roads each year.
Wind and solar power cover nearly a third of Jordan ’ s electricity needs, a huge leap from 10 years ago, when renewable energy resources were untapped.
Managing Director Mukhtar Diop said: “Jordan ’ s impressive journey in renewable energy is a prime example of the enormous impact that can be achieved through concerted efforts and cooperation to mobilize resources, and this is a reminder that countries can only achieve the desired effects through partnerships and clusters. ”
“Jordan has been at the forefront of the global energy map in just ten years, and the Kingdom ’ s experience has inspired other countries to follow suit. ”
In the summer of last year, the Foundation said it had selected Jordan as a regional hub for operations in 15 countries in the region and its surroundings, given Jordan ’ s strategic location and stability, which covers the Foundation ’ s operations in the Middle East, Pakistan and Afghanistan.
According to the foundation at the time, “in 2022, it committed approximately $184 million to Jordan to support vital projects, ” adding that the size of the foundation ’ s portfolio to date in Jordan amounted to nearly half a billion dollars.
As part of IDA ’ s efforts in Jordan, in early 2018, IDA announced a $188 million co-financing package for Jordan ’ s largest solar PV plant as part of its contribution to boosting investment in the renewable energy sector and meeting the Kingdom ’ s growing energy demand.
In 2013, ENEC was the financial advisor and managing the financing of Jordan ’ s first commercial renewable energy project, the 117MW Tafila Wind Farm.
In 2014, through its “Seven Sisters ” renewable energy financing program, IDA provided $210 million in funding for seven independent investment projects to support the first round of solar PV projects in Jordan, which at the time was the largest privately developed solar power project in the region.
In 2016, the International Finance Corporation (IFC) completed financing for Mafraq 1, FRV ’ s first 50MW solar power plant, followed at the end of the year by funding for the 485MW combined-cycle gas turbine project in Zarqa.

The country's solar and wind power cover a third of its electricity needs, demonstrating the significant impact of renewable energy on the local economy.

Egypt has 30 solar energy companies, but the sector faces challenges such as dollar shortage and import issues.

Title:

Content: 30 investors in the solar energy sector address the « Ministers » and « Central » to save their projects
In light of the difficulty of providing the dollar and the "documentary credits"
Omar Salem
9: 31 AM, Sunday, 28 Aug 22
Thirty companies working in the solar energy sector have submitted an urgent memorandum to the Council of Ministers and the Central Bank to save their projects and investments in Egypt, against the backdrop of difficulties they face in securing the dollar and procedures for opening documentary credits.
Sida: Imports almost stopped in July
We call for an urgent meeting with the governor.
Hatem Tawfik, member of the Energy Development Association (SIDA) and president of Cairo Solar, said that the import of components for solar energy projects has been almost suspended since last July due to the difficulty of securing the dollar.
He added that the companies working in the field of solar energy demanded an urgent meeting with Hassan Abdullah, acting governor of the Central Bank, to discuss this problem, especially as some of them are threatened with suspension and closure completely.
He stressed that there is a severe shortage of components of solar energy projects in the local market, whether cells or power transformers, cables and supplies for the inauguration of stations and heaters, explaining that the sector projects support the state plan to rationalize the consumption of electricity and provide natural gas for export.
Each megawatt solar plant with an investment of one million dollars contributes to saving about 12 million cubic feet of natural gas annually for export at a value of 10 million dollars, he said.
Hatem Tawfik: Megawatt plant provides natural gas worth $10 million annually
The companies call on the government to facilitate the process of importing solar and renewable energy components, and to ease the procedures of procuring the dollar, in conjunction with Egypt ’ s readiness to host the climate conference in Sharm el-Sheikh next November.
Ahmed Hamdi, president of Africa Power Solar Company, said that the prices of products are too high, including cells, current transformers, DC cables, water heaters and protection components, pointing out that although there are a number of factories that collect solar cells locally, their production is not enough for the country ’ s needs.
The Ministry of Electricity ’ s production of renewable energy has risen to 7,300 megawatts, including private sector projects, most notably the Benban Solar Complex, which is the largest in the Middle East, with a total capacity of 1,465 megawatts with investments exceeding $2 billion.
Egypt plans through a number of ongoing projects to reach the total electricity produced from renewable energy projects by 2023 to 10,000 megawatts, equivalent to 16% of the total electricity production in the country.

The Benban Solar Complex in Egypt has a capacity of 1,465 megawatts and investments exceed $2 billion.

Tunisia has a 200 kilowatt floating solar power plant, and Morocco aims for 52% renewable energy by 2030.

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Content: High fuel prices force Maghreb countries to invest in solar energy
Cairo - Al Wasat Gate Sunday 13 November 2022, 10: 32 am
The sun ’ s rays are reflected on dozens of solar panels deployed in a lake in Tunisia, which, like other Maghreb countries, seek to overcome the delay in exploiting this natural source of energy available almost throughout the year, despite bureaucratic obstacles at the administrative level, but many countries have made important strides in the production of solar energy, against the backdrop of high fuel prices due to the Russian-Ukrainian crisis, and increased awareness about the importance of returning to natural resources.
Michael Tanchum, a researcher at the Middle East Institute in Washington, told AFP that "the enormous pressure on natural gas, especially in Europe, has changed the investment equations in this area," but in Algeria, Tunisia and Morocco, there are huge resources of solar and wind energy, according to Tanchum, a specialist in trade, energy and geopolitical affairs in the North African region.
A giant area for solar energy production
The region ’ s climate is mild to hot and sunshine hours are estimated to be in the thousands over the entire year, raising the possibility that the region could become a giant producer of alternative solar energy and be able to meet its own needs and even export to Europe.
Omar El Bey, director at Kier, hopes that the 200 kilowatt floating solar power plant model in the Tunisian capital, the first of its kind in North Africa, will be a catalyst for other similar projects in the region, stressing that Tunisia, which has limited resources, “has no other choice but to bet on renewable energy sources, ” as floating power plants have the natural cooling of the panels, making them more efficient. It opens the way for land to be used for“ other uses, such as agriculture or housing construction, ” according to Bey.
The most prominent example is the power plant project, which was built in the desert near Tataouine and began to benefit from it only in October, two years after its establishment, to produce 10 megawatts and provide 10,000 households with electricity, but there is still some hope, according to El-Bey, who asserts that “we have overcome all these problems today. ”
Tunisia hit by debt in energy crisis
In addition, Tunisia is heavily indebted in the context of a crisis that is worsening day by day against the backdrop of the repercussions of the COVID-19 epidemic and the war in Ukraine, which has led to an increase in its import bill of subsidized food and energy, and projects often face legal obstacles and complicated administrative procedures due to bureaucracy, says Ali El Kanzari, president of the National Syndicate Chamber for Installation and Maintenance of Photovoltaic Equipment. Sometimes they break down for a month or a month and a half at customs, we need more flexible laws and the whole path needs to be accelerated, ” he said.
Tunisia launched a more modest but similar project, and in October it applied for European assistance to build a 200-kilometer cable linking it to Italy, a project worth 800 million euros that it hopes will be operational by 2027, and if the project could be completed with a production capacity of 4-5 gigawatts in southern Tunisia, “the country could sell electricity to Europe and collect significant revenues from it and avoid delays, ” El Kanzari estimated.
Morocco is the leading country.
According to Michael Tanchum, Morocco is the only country leading in this field compared to Algeria and Tunisia, where since 2009 the Kingdom of Morocco has taken important investment steps in the field of renewable energy, setting a target of 52% of its total energy by 2030, and currently, one fifth of electricity production comes from environmentally friendly energy sources.
The Moroccan Ministry of Energy confirms that it is “reaping the benefits of its vision with 111 projects completed or under development in the field of renewable energies ”, as one of the main programs set up in the Kingdom is the X-Link project, which has a generation capacity of more than 10 gigawatts and depends on the sun and wind, which exports energy to Britain through 3,800 km of sea cables and aims to supply seven million households by 2030.
Neighboring Algeria, well aware that its gas resources will one day run out, has also set itself an ambitious target of producing 15,000 megawatts of solar power by 2035.
The first part of a 1-gigawatt megawatt (GW) project is due to start at the end of 2023 or early 2024, but Algeria currently produces only a limited 3% of its electricity from solar energy, said Intisar Faqir, head of the North Africa program at the Middle East Institute, that despite the facilitation through legislation, “there are still difficulties for foreign investment, including the Algerian bureaucracy. ”
More from the middle gate.
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Algeria targets 15,000 megawatts of solar power by 2035, while Morocco has 111 completed or ongoing renewable energy projects.

Egypt has approved a $635 million investment for 11 solar plants, which will construct 500 megawatts of solar power plants.

Title:

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

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

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

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

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

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

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

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

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

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Renewable Energy

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

Masdar has launched solar projects in several countries, including Egypt, Jordan, and Uzbekistan, and aims for 100GW renewable energy capacity by 2030.

Title:

Content: Friday 30th December 2022 Abu Dhabi UAE
Prayer times
News Highlights
Today 's Issue
Today 's Issue
“Source. ”
Investments in promising markets and the launch of new projects in 2022
One of Masdar ’ s solar energy projects
December 29, 2022 15: 55
Abu Dhabi Future Energy Company (Masdar) launched in 2022 new clean energy projects in a number of countries around the world, announcing the entry of new markets, and concluded agreements to explore promising opportunities in several regions around the world.
In 2022, Masdar signed agreements and memorandums of understanding to develop, construct and operate solar, offshore and onshore wind power plants, develop hydrogen projects and explore new clean energy opportunities in several countries, including Egypt, Jordan, Seychelles, Turkmenistan, Uzbekistan, Tanzania, Azerbaijan, Indonesia, Georgia, Singapore, Kyrgyzstan and others.
Today, Masdar has operations in more than 40 countries across six continents, executing and investing around $20 billion in projects around the world.
Solar Stations
Recently, the launch of the LDE Romanville solar power plant in the Republic of Seychelles, funded by the Abu Dhabi Fund for Development (ADFD), was announced, with Masdar embarking on the development of the 5MW plant in collaboration with the Seychelles Public Utilities Corporation.
In November, Masdar announced the signing of a joint development agreement with Turkmen Energy, a state energy company affiliated to the Ministry of Energy, to develop a 100 MW solar photovoltaic plant, which will be Masdar ’ s first project in Turkmenistan.
COB 27
On the sidelines of the UN Climate Conference COP27 in Egypt last month, an agreement was signed between Masdar ’ s Infinity Power, Infinity Energy, Hassan Allam Utilities and the Egyptian government to develop a 10GW onshore wind project in Egypt, one of the largest wind projects in the world.
Masdar, Infiniti Power Holding and Hassan Allam Utilities signed a framework agreement with government entities in Egypt to develop a 2 GW green hydrogen project within the Suez Canal Economic Zone as a first phase of the 4 GW production program.
Masdar also signed a memorandum of understanding with the Jordanian Ministry of Energy and Mineral Resources to explore opportunities to develop renewable energy projects with a total capacity of 2 GW.
Wind Energy
In September, Masdar and RWE Renewables announced the signing of a Memorandum of Understanding (MoU) to explore opportunities for collaboration to develop offshore wind power plants in key markets.
Masdar also announced the completion of the financial closure of the 500MW Zarafshan wind farm project in Uzbekistan.
Renewable Energy
In August, Masdar signed an agreement with Tanzania Electricity Company Limited (Tanesco) to develop renewable energy projects with a total capacity of 2 gigawatts.
It also announced the closure of funding for the 230MW Karadag solar PV plant in Azerbaijan, after construction of the plant began in March.
In mid-2022, Masdar signed agreements with the Ministry of Energy of the Republic of Azerbaijan to develop clean and renewable energy projects with a total proven production capacity of 4,000 GW, with the right to develop an additional 6,000 GW as a second phase, bringing the total production capacity of these projects to 10,000 GW, the largest in the history of Azerbaijan.
The agreements include the implementation of onshore wind projects with a capacity of 1000 MW, and another in the field of solar PV with a capacity of 1000 MW, in addition to an agreement to develop integrated projects for offshore wind and green hydrogen with a capacity of 2000 MW.
In 2022, Masdar also signed a Memorandum of Understanding (MoU) with the Ministry of Energy of the Kyrgyz Republic to explore opportunities for cooperation in the development of renewable energy projects in the Central Asian country, including solar, floating and hydroelectric projects with a potential capacity of up to 1 GW.
Joint cooperation
In May, Masdar signed a strategic partnership between ADNOC, Masdar and BP, which aims to achieve significant progress in cooperation between the three parties in the fields of renewable energy, including the development of two clean hydrogen centers and advanced technology.
It also signed a memorandum of understanding (MoU) with the National Petroleum Construction Company (NPC) to explore opportunities for cooperation in the fields of offshore wind energy, green hydrogen and other renewable energy technologies.
Sustainability Week
On the sidelines of Abu Dhabi Sustainability Week in January 2022, Masdar launched a joint venture with PT Mitrapara Adebirdana to target the fast-growing commercial and industrial sectors of Indonesia ’ s renewable energy market.
It also signed an agreement with Cosmo Energy Holdings Co, one of Japan ’ s largest energy companies, to explore renewable energy development opportunities including offshore wind projects in Japan, as well as an agreement with Tawas Power of Singapore, EDF Renobles of France and PT Indonesia Power to explore renewable energy development opportunities in Indonesia and export to Singapore. Photovoltaic capacity of up to 1.2 GW, with the possibility of providing technology for energy storage.
An agreement was signed with the Georgian Energy Development Fund to develop a utility-scale solar photovoltaic power plant in the country, with a capacity of 100 MW, which will be developed in cooperation with the Fund, and will be the largest of its kind in Georgia.
Strategic Acquisition
Abu Dhabi National Energy Company (TAQA), Mubadala Investment Company (Mubadala) and Abu Dhabi National Oil Company (ADNOC) recently announced the completion of a strategic agreement to acquire stakes in Abu Dhabi Future Energy Company (Masdar).
Masdar aims to increase its capacity to 100 GW of renewable energy in its domestic and global portfolio by 2030.
In addition to its initial targets, Masdar aims to produce more than 200 gigawatts of renewable energy, further cementing its position as a global leader in the sector.
Masdar aims to rapidly expand its green hydrogen business to an annual production capacity of 1 million tonnes of hydrogen by 2030, equivalent to avoiding more than 6 million tonnes of CO2 emissions.
All rights reserved to Al Ittihad Newspaper 2022 ©

The company has signed agreements for 10GW wind project in Egypt and 2GW green hydrogen project in Egypt, demonstrating its commitment to renewable energy.

The UAE has 3,040 megawatts of solar capacity and ranks second in per capita solar energy consumption.

The Mohammed bin Rashid Solar Park in the UAE will produce 5,000 megawatts by 2030 and uses a parabolic trough system.

Injazzat has invested $35 million in Egypt for green projects, including a solar power plant in the Maghra region.

Title:

Content: Wednesday, 28 February 2024 12: 27 GMT
(Injazzat) implements 3 green projects in Egypt at a cost of $35 million
(MENAFN- Al-Borsa News) The company supplies three Al-Futtaim malls with solar power plants
Injazzat Company, which specializes in the production and operation of solar energy and clean water, is implementing 3 projects during 2024, at an investment cost of about $35 million in Egypt, and the company has started the implementation of its first project outside the country in Lebanon.
Mohamed El Demerdash, CEO of the company, said it has signed a $25 million agreement with Majid Al Futtaim Properties to supply four shopping malls in Egypt and Lebanon with solar power plants to generate 737 million kilowatt-hours of clean electricity throughout the duration of the project.
Companies ask banks for financing facilities to reconcile their environmental conditions (Fawad) discusses with the US ambassador the strengthening of cooperation in the field of environment, climate and biodiversity “Nawab ” approves a grant for sustainable green industry of 500 thousand euros
Al-Demerdash added that a solar power plant is being implemented to serve Al-Futtaim Real Estate Group ’ s City Centre Beirut in Lebanon, at an investment cost of about $1.5 million, and will be operational during the first quarter of next year.
He explained that under the agreement, the electricity savings consumed by the targeted shopping malls will reach about 35% of their capacity, and solar energy systems are being implemented on the roofs of the four shopping malls and in their car parks, to compensate for more than 3 million metric tons of carbon dioxide emissions over 25 years.
He added that this agreement is the largest project implemented by the company for the commercial sector.
As for the company ’ s projects in the agricultural sector, he pointed out that the company is implementing a project in the Maghra region in Marsa Matrouh governorate worth $7 million to implement a project to provide water and renewable energy solutions, and the installment of services for small farmers.
The company is currently considering applications for 1,000 farms for the implementation of solar power plants and modern irrigation systems on their farms, which demand has risen strongly in light of the high cost of fuel.
The company has started implementation in the New Valley governorate currently, and expects to enter 10 more governorates during the next year, within the framework of its partnership with the National Bank and iFinance.
Last December, the company and the National Bank of Egypt (NBE) and E Markets Egypt, a subsidiary of E Finance Group for Financial and Digital Investments, signed a cooperation agreement to provide an integrated solution to support the use of solar energy systems and smart irrigation systems by small farmers.
Through this agreement, the National Bank will finance the purchase of solar energy systems using digital finance at a 5% interest rate over 5 years as part of the Central Bank ’ s initiative.
According to the agreement, a digital solution will be provided that includes a range of equipment and uses of sustainable utility technology, clean and solar energy applications and smart irrigation, including solar panels, oscillators, pumps and smart irrigation systems, provided through the Agri Egypt e-Agriculture Platform.
The platform allows applying for a loan through the platform by the National Bank of Egypt, at a rate of 5%, decreasing over five years, according to the terms of the CBE initiative so that the farmer can receive the loan within 14 working days.
Injazzat started its activity in 2011, and is specialized in enabling agricultural, commercial and industrial works, without capital or operational burdens on the beneficiary.
The company has implemented projects for the agricultural sector, which will reduce water consumption by 75% compared to traditional irrigation, and the value of the project amounted to about $10 million, which was implemented in the Dakhla area in the New Valley Governorate in 2020.
As for the company ’ s projects for the benefit of the industrial sector, Al-Demerdash said that the company is currently implementing a project of solar panels on the roofs of the plant (Joshi Misr) specialized in the manufacture of fiberglass, at an investment cost of about $7 million.
Maram Shalabi wrote:
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The company has also signed a $25 million agreement with Majid Al Futtaim Properties to implement solar power projects.

The National Bank finances solar energy systems at a 5% interest rate, making it more accessible for individuals and businesses to invest in renewable energy.

The Middle East leads in sustainable energy infrastructure, with countries like Saudi Arabia and the UAE at the forefront of solar energy development.

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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Larsen & Toubro has secured a 3.5 GW solar project in the Middle East, which will contribute to the region's growing renewable energy portfolio.

The UAE has 90% of its land area capable of producing solar energy efficiently and aims for a 600% surge in solar power by 2030.

Title:

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 Middle East renewable energy market is expected to grow 13.43% annually from 2023 to 2028, with the region increasing its renewable energy capacity to 80 GW by 2030.

The Arab countries aim to triple global renewable energy capacity by 2030, which is expected to have a significant impact on the energy transition in the Middle East.

Title:

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

Eight Arab countries are expected to lead the renewable energy trend, with the UAE and Egypt being top Arab countries in solar and wind energy production.

The renewable energy capacity in the Middle East increased by 12.8% in 2022, indicating a growing focus on clean energy in the region.

Arab countries' investments in renewable energy will reach $1 trillion by 2040, which will likely create new job opportunities and stimulate economic growth.

The UAE aims to increase clean energy to 50% by 2050, and reduce 70% of emissions by 2050 with green energy, which is expected to save the country $191 billion.

Title:

Content: ECONOMY
Argus Media: Saudi Arabia and the UAE reap the benefits of the green economy
Thank you for reading the news about Argus Media: The UAE is reaping the benefits of the green economy and now we start with the details
SHARIF AHMED – “There is a strong economic desire in both countries to switch to renewable energy sources. ”
« Riyadh and Abu Dhabi closely follow global developments in the hydrogen sector »
According to Argus Media, the Kingdom and the UAE are witnessing many economic advantages, thanks to the transition to a green economy, with the use of cleaner sources of energy.
There is a strong economic desire in both countries to switch to renewable energy sources, the website added, adding that there are large investments that the two countries will attract thanks to this new trend.
According to Argus Media, the kingdom, the world ’ s largest crude oil exporter, pledged to reach net zero emissions by 2060 in late October.
The UAE aims to increase the contribution of clean energy to its domestic mix to 50% by 2050, of which 44% will come from renewables, 6% from nuclear, 38% from gas and 12% from clean coal, compared to 25% in 2017.
UAE Energy Minister Suhail Al Mazrouei said that incorporating a 50% contribution of “green ” resources into the country ’ s energy mix by 2050 would allow Abu Dhabi to reduce 70% of its emissions during that time and reduce its investment in these fossil fuels.
“We were supposed to spend $353 billion on fuel, in addition to capital expenditures, but switching to 50 percent of green energy sources will save us $191 billion, or nearly 60 percent of the budget, ” he said, adding that the shift would benefit Saudi Arabia and the UAE both financially and environmentally, and create new jobs.
“The prospect of a green transition does not mean that Riyadh or Abu Dhabi will abandon their heavy oil and gas strategy anytime soon, as both seek to increase their crude oil production capacity in the next five to eight years.
The UAE wants to raise its ceiling by 25% to 5 million barrels per day by 2030, and the kingdom plans to add 1 million barrels per day of energy, a total of 13 million barrels per day, by 2027.
Amin Nasser, CEO of Aramco, recently said that the inability to deploy current low-carbon technologies on a large scale will result in a continued reliance on hydrocarbons in the energy mix for the time being.
In December, Nasser said, “New and existing energy sources must run in parallel for a long time, as hydrocarbon substitutes are by no means within reach because a large enough share of energy is available. ”
Also, His Excellency the Minister of Energy Prince Abdulaziz bin Salman once again stressed the need to focus on reducing emissions, rather than excluding a particular source of energy throughout the green transition.
“I think that blocking an energy source, or being too selective, would be harmful, and it doesn ’ t recognize the nature of the economies we need, ” he said.
Riyadh plans to produce 2.9 million tonnes per year by 2030 and 4 million tonnes per year by 2035 of blue hydrogen, largely derived from natural gas.
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Saudi Arabia has pledged to reach net zero emissions by 2060, and the country plans to add 1 million barrels per day of energy by 2027.

The green transition is expected to create new jobs in Saudi Arabia and the UAE, with the two countries also expected to attract large investments in renewable energy.

The Gulf region's GDP is expected to jump to 4.3% in 2022, driven in part by the growth of the renewable energy and IT sectors.

Title:

Content: The UAE is ready for the future today
T + T - normal size
The Gulf Conference Board for Economic and Business Research said that the UAE is ready for the future today thanks to its diversification of the economy and knowledge-based economy, where its policy of thinking about the future has borne fruit, which made it ranked ninth in the world in the measure of digital competitiveness.
He explained that the UAE is currently working on an industrial strategy to increase the sector ’ s contribution to GDP to 300 billion dirhams by 2031, and to increase non-oil exports by 50%, with GDP growth expected to reach 3.0% between 2022 and 2026 and 3.6% between 2027 and 2031.
He said Gulf economies were continuing to close the pages of the pandemic and were looking forward to more positive growth in 2022.
In its annual GCC Economic Outlook for 2022 report, the Centre said that the rising global demand for oil and the increase in oil production is expected to contribute to a jump in the GDP of the Gulf region from 2.4% in 2021 to 4.3% next year.
Dr. Mahdi Al-Jazaf, Executive Director of the Center, said that The Conference Board annually publishes this report, which reviews the vision of the organization ’ s experts on the economic conditions in various regions around the world, including the Gulf region, explaining that the report outlines the general direction of the economy over the next decade.
He pointed out that the Gulf countries are directing their efforts over the next decade towards developing the non-oil sector with the slowdown in the growth of global demand for oil coinciding with the global shift towards renewable energy sources, and it is expected that the renewable energy and information technology sectors will be among the most attractive sectors for domestic and foreign investment, and will be a driver of economic growth in the coming years.
He explained that although these sectors will be based on the recruitment of specialized foreign workers in the early years, these sectors are also attractive to national labor, allowing the oil and rent economy to shift to a more sustainable economy.
3 Engines
He added that economic growth in the Gulf region will depend on three main drivers: skilled national labor, renewable energy, and advanced digital infrastructure.
The Conference Board forecasts that global oil demand will reach 97.4 million barrels per day by the end of this year, rising next year to 101 million barrels per day, with demand gradually increasing to 103 million barrels per day in 2031 to coincide with the steady rise in renewable energy consumption. The Gulf states are counting on ambitious plans to switch to renewable energy and reduce carbon emissions, with 225,000 expected to be created. jobs by 2030, equivalent to 1% of all jobs in the region.
The UAE and Saudi Arabia are leading these ambitious plans.
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The region is expected to create 225,000 jobs by 2030, with the renewable energy sector being a key driver of job creation.

Egypt has invested $84 billion in renewable energy projects, and the country aims to export clean energy to the world, which is expected to generate significant revenue.

Title:

Content: Egypt News
84 billion investments in Egypt.
Details of the largest dollar deal in the coming period
Egypt faces many economic challenges over the past years, and within the framework of the Egyptian government ’ s search for solutions and overcoming difficulties, the ministers of planning, economic development, finance, international cooperation, and the Postal Authority succeeded in concluding important deals and agreements to achieve a dollar return, while the Egyptian Post achieved a surplus of profits exceeding $4 billion.
9 agreements worth $84 billion
For her part, Dr. Hala Al-Saeed, Minister of Planning and Economic Development, participated in the side event organized by PepsiCo, in cooperation with the League of Arab States entitled “Unlocking Opportunities in the Middle East.
Transition to renewable energy ”, which was held on the sidelines of the United Nations Climate Change Conference “COP28 ′ ′, held in the UAE.
She stressed that the transition to renewable energy is not just an environmental necessity but has many benefits, as it is a strategic opportunity for the Middle East to create a diversified economy, enhance its global competitiveness, create new jobs, and exploit the region ’ s abundant renewable energy resources to export clean energy to the world and not just local sufficiency.
During her remarks at the conference, Al-Saeed revealed that 9 framework agreements worth $84 billion for the production of green hydrogen with regional and international developers, in addition to 22 memorandums of understanding with relevant government stakeholders and major international developers, to develop a green hydrogen seamless, including renewable energy, electrolysis facilities, and green fuel production.
The Minister of Planning pointed out that the government is actively promoting green data centers and attracting investments to facilities that use renewable energy sources in order to reduce energy consumption and operating costs that consume a lot of fuel.
Minister of Finance Mohamed Moait stressed that the transformation of the green economy, adaptation to climate change and flexible dealing with it in light of the current global economic challenges, requires new financing tools and large investment flows for emerging economies, with the need to take into account the social and environmental dimensions and sustainability standards to meet future and current needs.
Maait explained, in his meeting with representatives of HSBC banks.
On the sidelines of the climate summit held in the United Arab Emirates, we look forward to a greater role for global banking institutions in supporting the development goals of emerging economies by pushing for huge investments that contribute to improving the lives of citizens and improving the level of services provided to them.
Dr. Sherif Farouk, Chairman of the Board of Directors of the National Postal Authority, said that the Board of Directors approved the budget of the Authority for the fiscal year 2022 / 2023 with a net surplus of 4 billion and 422 million pounds.
During the past three years, the Authority has succeeded in achieving many achievements at all levels, where financial inclusion and digital transformation have been applied to all procedures and transactions, which contributed to improving the quality and diversity of services, developing existing post offices and establishing new post offices along with mobile post cars and post kiosks. With the continued support of Dr. Amr Talaat, Minister of Communications and Information Technology.
The conference, which was held in Dubai, discussed strengthening cooperation between the government and the World Bank, as the latter seeks to consolidate its role as a knowledge bank in the field of development and expand partnerships to address the global challenges that are expected to occur in the future, especially climate change.
The discussions at the conference dealt with strengthening the role of the World Bank in the field of financing for development and climate action in member countries, and ways to strengthen the role of the Bank in addressing the challenges of development, eradicating poverty and enhancing shared prosperity in developing and emerging economies.
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The country has also signed 22 memorandums for green hydrogen development, and is promoting green data centers to reduce energy consumption.

Egypt is expected to lead the Middle East in clean energy production and export, and the country is expected to attract $45 billion in investments over four years.

Title:

Content: 4 clean industries lead Egypt to export foreign direct investment in the Middle East
Friday ، 19 April 2024 01: 00 AM
Ahmed Abdel Hafez
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Egypt has made great strides in the field of solar, wind, green hydrogen and ammonia, making it an important regional and international position in these industries, where it is expected during the coming period, and with the expansion of these industries, Egypt will lead the Middle East and Africa in the production of this energy, and export it abroad, especially in light of the tendency of giant ship owners to use green hydrogen in ships as an alternative to conventional fuel. The giant navy.
Dr. Ahmed Abdel Hafez, Professor of Economics, pointed out that besides the clean energy industries sun, wind and green hydrogen, the fourth industry is of utmost importance, the green ammonia industry, which is also a clean energy produced by Egypt, pointing out that this industry is used as fuel and is also used in the manufacture of clean fertilizers, which the European Union places great hope on expanding its industry to replace traditional or gray ammonia in the fertilizer industry. to support the agricultural sector.
He added that these industries can attract $45 billion over the next four years, in addition to the flow of foreign direct investment in the rest of the industries, amounting to about $10 billion annually, benefiting from the logistics zone in the Suez Canal and its affiliated areas or traditional industries, which makes Egypt lead the region in attracting foreign direct investment (FDI), which is reflected in job creation, high growth rate, and the provision of hard currency.
Ahmed Abdel Hafez pointed out the need for the countries of the world to expand the manufacture of tools used in these industries, and to give the technology of their manufacture to the rest of the world to reduce the spread of carbon and provide them at appropriate prices, especially to the poor countries of the continent of Africa, and this naturally contributes to maintaining the temperature of the earth and to reduce significantly harmful emissions that threaten the entire planet.
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The energy transition is expected to create 12 million jobs globally, with 4.3% increase in renewable energy jobs from 2019 to 2020.

Title:

Content: Archive / Economics
12 million jobs created by the renewable energy sector globally
Thank you for reading the news about 12 million jobs created by the renewable energy sector globally and now we start with the details
DAMMAM (Reuters) - The renewable energy sector provided jobs to 12 million people around the world last year, compared to 11.5 million in 2019, an increase of 4.3%, according to the eighth edition of the “Annual Review – Renewable Energy and Jobs ” report for 2021.
The COVID-19 pandemic caused supply chain delays and disruptions with varying impacts on jobs by country, end-use sectors, and across the value chain, while solar and wind jobs continued to top the global employment growth index for renewables, accounting for a total of 4 million and 1.25 million jobs, respectively. About the network experienced a faltering, but the companies were able to reduce job losses in this area.
China accounted for 39% of renewable energy jobs worldwide in 2020, followed by Brazil, India, the United States and EU member states.
Several other countries are creating jobs in renewable energy, notably Vietnam and Malaysia, two major suppliers of solar PV; Indonesia and Colombia, which have large supply chains of biofuels for agricultural purposes; and Mexico and Russia, where wind power is growing.
Solar jobs are rising in various countries in sub-Saharan Africa, such as Nigeria, Togo and South Africa.
As the Conference of the Parties to the United Nations Framework Convention on Climate Change (COP26) convenes soon, governments must raise their ambitions to reach net zero emissions, noting that the only way forward is to promote investments to achieve a fair and inclusive transformation of the energy sector, and reap the full social and economic benefits that this entails. The track.
ILO Director-General Guy Ryder said: “The ability of renewable energies to create decent jobs is a clear indication that we don ’ t have to choose between achieving environmental sustainability or creating jobs.
Recognizing the fact that women have been most affected by the pandemic because of their propensity to work in sectors more vulnerable to economic shocks, the report highlights the importance of a just energy transition and decent jobs for all, ensuring that job wages are commensurate with living requirements, safe workplaces and respect for employees ’ rights to work.
Equitable transformation requires a diverse workforce with equal employment opportunities for women and men, and career paths for youth, minorities and marginalized groups.
International labour standards and collective bargaining arrangements between employers and employees are central elements of this framework.
Reaching the full potential of renewable energy jobs requires ambitious policies to drive the energy transition in the coming decades, as well as policies for deployment, empowerment and integration of the sector itself.
There is an urgent need to overcome structural barriers in the wider economy and reduce potential imbalances between job losses and gains during the transition process.
According to the International Renewable Energy Agency (IRENA) and the International Labour Organization (ILO), the jobs that will be lost as a result of the energy transition are nothing compared to the new jobs it will create.
The ILO ’ s global sustainability scenario to 2030 estimates that the 24-25 million new jobs far outweigh the 6-7 million job losses.
Nearly 5 million workers who have lost their jobs will be able to find new jobs in the same profession in another sector.
IRENA ’ s Global Energy Transition Outlook predicts that the renewable energy sector will create jobs for 43 million people by 2050.
Cross-border supply disruptions caused by restrictions imposed by COVID-19 have highlighted the vital role of local value chains.
Strengthening these chains will therefore facilitate the creation of local jobs and stimulate income based on current and new economic activities.
IRENA ’ s work on leveraging local supply chains provides insight into the types of jobs needed to support technology transformation, value chain divisions, and educational and professional requirements.
This goal requires industrial policies to shape sustainable supply chains; education and training strategies to build a skilled workforce; active labour-market measures to provide appropriate employment services; retraining, rehabilitation and social protection opportunities to help fossil fuel-based workers and communities; and public investment strategies to support regional diversification and economic development.
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The Middle East will witness a huge leap in renewable energy in the next 10 years, driven by government incentives and investments in clean energy.

Globally, $3 trillion will be invested in renewable energy over the next ten years, which is expected to create new industries, skills, and jobs.

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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The UAE sees the energy transition as an opportunity to diversify economic growth, and the country has been investing in solar and renewable space for 15 years.

Oman aims to increase electricity production from renewable sources to 30% by 2050, and the country targets zero carbon neutrality by 2050.

Title:

Content: NEWS
Oman ’ s Green Economy Charts New Features for Future Growth in All Sectors
The expansion of green industries paves the way for a significant impact on GDP growth, fiscal revenues and credit rating determinants
– World Bank: National targets and ambitious initiatives adopted by the Sultanate of Oman to shift towards a green economy and address climate change
– Fitch Rating: Capabilities and potentials qualify Oman for a good competitive position with low production costs and structure available for export through Hydrom and Port of Duqm facilities
– Energy Agency: Oman can be at the forefront of leading countries in the field of sustainable energy
The Sultanate of Oman is witnessing important shifts towards green economy, low emission industries and the expansion of the use of clean and renewable energy. These shifts are highly praised and followed by international institutions due to the importance of these efforts in the global effort to curb climate change. The expansion of green industries, especially green hydrogen, can bring about GDP growth, fiscal revenue volume, and credit rating determination.
The World Bank praised Oman ’ s national goals and ambitious initiatives to transition to a green economy, address climate change and achieve zero carbon neutrality by 2050, which confirms its commitment to green growth and the UN climate change adaptation agenda. A World Bank report released this week indicated that Oman ’ s green economy transition includes ambitious targets, including electricity generation from renewable sources, aiming to increase electricity production from renewable sources to 30% by 2050. 2030.
The World Bank pointed out that Oman ’ s green transformation strategies are part of an increasing trend in recent years by some of the world ’ s largest oil producing countries to commit to adopting clean energy. The GCC countries are among the countries that have announced national and regional goals and initiatives to address climate change. Balancing energy security and the deployment of renewable energy sources for a carbon-free future, it is able to become a leader in the Middle East and North Africa region and the world by investing its resources and capabilities towards a better climate and a livable planet.
Rapid green growth across sectors — including renewables, energy storage, electric vehicles, green buildings, a circular carbon economy and waste recycling — provides opportunities for skilled jobs, productivity growth and economic diversification, the World Bank said.
IFC estimates that supporting low-carbon investments in 10 key sectors in 21 emerging markets will generate $10.2 trillion in investment opportunities, create 213 million jobs and reduce greenhouse gas emissions by 4 billion tonnes by 2030.
In order to fully benefit from these benefits, GCC countries will need sustainable national commitments to these priorities, climate strategies, access to finance for businesses, and an enabling environment for green investment.
The World Bank estimates that if GCC countries continue to follow their current growth pattern, their combined GDP will reach $6 trillion by 2050.
Implementing a green growth strategy would accelerate its economic diversification and possibly contribute to increasing its GDP to more than $13 trillion by 2050.
This shift to a green economy offers a unique opportunity for GCC countries to increase their commitment to green growth and the climate change adaptation agenda, boosting international climate action that is progressing in a number of areas, including many countries joining the Global Methane Pledge (an international effort to reduce methane emissions by a minimum of 30 percent by 2030), increased investments in programs to support low-carbon technologies such as green hydrogen, circular carbon economy, and increased participation in markets. Carbon, local energy efficiency initiatives, and other important initiatives.
The World Bank stressed that the private sector plays a critical role in the success of climate initiatives in the GCC countries by pushing for a low-carbon transition and attracting green investments, and the transformation of resource consumption, energy production, manufacturing processes and other economic systems will require significant investment to achieve climate goals.
Sustained public sector commitment is also needed along with concrete policy interventions to drive change at the speed and scale required to address environmental challenges and support low-carbon transformation. First, green growth must be integrated as a national policy that shapes the future in all relevant sectors such as energy, water, food security, urban planning and services, among others.
The International Energy Agency (IEA) has highlighted the significant economic potential of Oman ’ s green hydrogen industries, which enhances its export competitiveness and supports economic growth, as well as pushing Oman to the forefront of global sustainable energy. The IEA has praised the move towards green hydrogen industries as a new engine of economic growth, with Oman potentially the sixth largest exporter of green hydrogen in the world by 2030.
According to a recent report by Fitch Rating, Oman has the capabilities to be competitive in the production and export of green hydrogen, especially with low costs of renewable energy, infrastructure available for export through the facilities of Hydrom and Port of Duqm, as well as a clear tax framework and relatively low rate of corporate income taxes in Oman.
Fitch said that against the backdrop of global shifts towards renewable energy and in the long term, the ambitious goals of the Government of Oman to expand the production of green hydrogen to strengthen the key criteria and indicators that determine the credit rating such as GDP growth, fiscal revenue volume and balance of payments.
The International Energy Agency (IEA) estimates that global investments in renewable energy reached a record $1.7 trillion in 2022, up from $530 billion in 2021, with a large portion coming from the private sector.
Oman is an active contributor to the world ’ s efforts to reduce global warming and has taken important steps towards reducing carbon emissions by declaring zero carbon neutrality by 2050, establishing the Oman Sustainability Centre, implementing a national strategy for an orderly transition to zero neutrality, and a national energy policy.
Recently, the Ministry of Economy announced that it is conducting a detailed study on the economic cost of the transition to a low-carbon green economy in Oman, including estimating expected returns and defining policies, legislation and economic governance.
Oman is witnessing a growing interest in switching to renewable energy and building a green economy to reduce harmful emissions and achieve carbon neutrality, targets that fall within the strategic direction of the priorities of environment, natural resources, economic diversification and development in Oman Vision 2040.

The IFC estimates $10.2 trillion in investment opportunities in low-carbon sectors by 2030, and 213 million jobs created in low-carbon sectors by 2030.

The GCC countries' combined GDP may reach $6 trillion by 2050, and a green growth strategy could increase GCC GDP to $13 trillion by 2050.

The Middle East needs 300 million jobs by 2050 to keep pace with population growth, and the new energy sector is expected to provide over 2 billion jobs in the coming years.

Title:

Content: World Bank: We need to envision a way for green recovery to be able to respond to future crises
Sunday ، 13 February 2022 01: 10 PM
League of Arab States - File photo
Bishoy Ramzi
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Ayat Suleiman, Regional Director for the Middle East and North Africa at the World Bank, said that the countries of the Middle East and North Africa region have an important opportunity to accelerate the pace of adaptation to climate change and embrace a number of green solutions, otherwise there will be problems and challenges affecting public health and prosperity in the region.
"We must envision a way of green recovery in order to be able to respond to future crises," she said, noting that the pandemic has reinforced poverty in the region and has faced a number of economic crises, which have led to increased unemployment.
She congratulated Egypt for hosting the climate summit at the end of this year, and the United Arab Emirates, which will host it next year.
Ayat Soliman said that this is a good opportunity for Egypt to learn its leadership role in combating climate change, pointing out that there is evidence that climate change will exist for a long time and will affect societies.
The Mediterranean region will experience reduced rainfall, sea levels will rise at significant rates, environmental pollution will result in a loss of 3% of global GDP, and water sources will be affected by climate change, negatively impacting the ability of people and communities to respond to climate change.
She called for the adoption of a green and inclusive action plan, noting that in 2050 the population of the region is expected to double, and we need 300 million jobs to keep pace with population growth, and green development solutions provide jobs for the youth of tomorrow, stressing that the orientation to new sources of energy reduces carbon and achieves social and economic benefits.
She pointed out that the new energy could provide the world with more than 2 billion jobs in the coming years, and in Morocco, for example, the country is working over the next 30 years to create one million jobs in the field of new energy.
She explained that the shift to green technology could lead to increased crop production and less water consumption, noting that the lack of water treatment affects public health and wastes existing opportunities.
It was time to improve the experiences of women and young people and to take advantage of green technology through training.
She stressed that the comprehensive green approach will help the Middle East and North Africa to get out of the pandemic and move towards the future, noting that the World Bank launched the Green Future Program for the Middle East and North Africa.
"We are focused on transforming the economy towards a green economy," she said, noting that sustainable development, climate change and the pandemic are the most important challenges facing our region.
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Morocco aims to create one million jobs in new energy over 30 years, and green development solutions can provide jobs for youth.

Renewable energy investments are expected to account for 34% of electricity investment in MENA by 2026, and the region is expected to be a source of 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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Hydrogen is expected to generate $120-200 billion annual revenues by 2050, and the MENA region has 10% of global carbon capture and storage capabilities.

The Middle Eastern countries are incorporating energy storage solutions into their renewable energy plans to ensure grid stability and reliability.

Title:

Content: Azelio and Elum Energy collaborate to tackle the energy storage market

Azelio and Elum Energy have partnered to deploy a solution to maximise the penetration of renewables and develop efficient control solutions for installations combining solar PV and long-duration energy storage

Bringing together both companies’ advanced technologies, the solution sees Elum’s monitoring and control working with Azelio’s thermal energy storage system.

Elum Energy is a leading monitoring and control solutions provider for solar plants. Its ePowerControl MC is a controller used for microgrid applications with an energy storage system. It maximises PV penetration and the seamless integration of energy sources like PV with diesel generators alongside with a grid.

"We are very excited to partner with Azelio. Elum's ePowerControl technology will truly bring integration flexibility and standardisation robustness to demanding installations," explained Cyril Colin, CEO of Elum Energy.

Azelio’s TES.POD system makes renewable energy accessible and affordable at all hours of the day. The system stores energy, for example from solar PV, as heat in recycled aluminum. Stored energy is dispatched on demand for supply of electricity and usable heat, with zero emissions. As a 100% fossil replacement, the TES.POD system can be widely used to secure cost-effective and reliable clean energy.

“With industries and consumers around the world lacking a dependable and sustainable energy supply, Azelio’s solution is ready to meet a critical need. We are proud to be partnering with Elum Energy, a market leader whose expertise in monitoring and control solutions will further optimize our system with solar PV,” commented Azelio’s CEO, Jonas Wallmander.

Where grid connections are unreliable, expensive, and fossil-based, coupling the advanced control algorithm of Elum’s ePowerControl MC with the innovative energy storage technology of Azelio’s TES.POD system, provides stable and reliable energy. End users can maximise PV penetration by making solar power available around the clock, and thereby reduce diesel fuel consumption during nighttime hours.

One of the key applications for the Azelio-Elum partnership is off-grid agriculture, where long-duration energy storage is a must. In contrast to the diesel generators currently used, the joint solution design aims to cover 80% of power needs with renewable sources and long-duration energy storage. The goal is to significantly reduce the fuel consumption of the project to provide more savings and price stability for the customer over time.

Azelio and Elum Energy are committed to deploy projects in the Middle East, Africa and the US.

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Azelio's TES.POD system stores energy as heat in recycled aluminum, while Elum's ePowerControl MC maximizes PV penetration and integration.

The Dubai Electricity and Water Authority (DEWA) has launched a pilot project using lithium-ion batteries for energy storage.

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Content: Advertisements
Dubai Electricity launches a pilot project to store energy using lithium-ion batteries
Dubai Electricity and Water Authority (DEWA) has launched a pilot project at the Mohammed bin Rashid Al Maktoum Solar Park to store energy using Tesla ’ s Li-ion battery systems with a storage capacity of 1.21 MW, a capacity of 8.61 MWh and a life span of up to 10 years.
HE Saeed Mohammed Al Tayer, Managing Director and CEO of DEWA, said: “The project is part of DEWA ’ s efforts to diversify energy sources and enhance energy storage technologies. It aims to assess the technical and economic capabilities and characteristics of this technology within the operational framework of solar photovoltaic power plants and to test the role of this technology in integrating clean energy and storage to achieve maximum efficiency and reliability. ”
Al Tayer pointed out that the Authority is working on other storage projects, including the use of concentrated solar energy in the fourth phase of the Mohammed bin Rashid Al Maktoum Solar Park, which combines concentrated solar energy and solar photovoltaic technologies with a capacity of 950 MW and will include the largest solar storage capacity in the world for 15 hours, which will allow the production of power 24 hours. In the Arabian Gulf region, electricity will be produced using water stored in the Hatta Dam with a storage capacity of 1,500 MWh; and the Green Hydrogen project, implemented by DEWA in collaboration with Expo 2020 Dubai and Siemens Energy, is the first of its kind in the Middle East and North Africa to produce green hydrogen using solar energy at the R & D facilities of the Mohammed Bin Rashid Al Maktoum Solar Park.
Waleed bin Salman, Executive Vice President, Business Development and Excellence Sector, pointed out that this is the second project launched by the Authority at the Mohammed bin Rashid Al Maktoum Solar Park, where it launched the first project in cooperation with Amplex Emirates to install and test NaS systems with a storage capacity of 1.2 MW and a capacity of 7.5 MWh.
He explained that the two pilot projects allow the storage of energy from the electricity grid or from solar power stations with the connection of storage systems to the TRA network.

The project uses Tesla's Li-ion battery systems with a 1.21 MW storage capacity and has a solar storage capacity of 15 hours.

Middle East countries are investing in electricity infrastructure development, with France supporting energy storage solutions in the region.

Title:

Content: Strong French Presence at Dubai Energy Show
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The Middle East Energy Expo 2022 is witnessing a strong presence of France through the participation of 11 French companies under the umbrella of the French pavilion, organized and supported by the National Agency for the Development of the French Economy internationally Business France.
The most prestigious and comprehensive event for the energy sector in the Middle East and North Africa region is expected to attract more than 800 exhibitors and thousands of visitors, specialists and experts from around the world.
With a heritage of more than 45 years, Middle East Energy has established itself as one of the region ’ s leading energy events.
The 11 French companies, all with expertise in energy storage, equipment and applications, transmission and distribution of electricity, network protection products, systems and lighting, offer innovative, efficient and competitive solutions to the region.
The Middle East Energy Show will be an opportunity for French companies to discover the demands of new markets, share their valuable industry knowledge and experience and promote new and existing business areas.
Countries in the Middle East and North Africa (MENA) region are investing heavily in strengthening their electricity infrastructure and building new power lines, in order to secure supplies and respond to the growing demand for electricity in light of their booming economies and growing populations.
This includes the development of “high voltage ” direct current interconnection (HDVC) projects, such as connecting Egypt to GCC interconnected networks, or connecting Saudi Arabia to North Africa and Egypt to Iraq via Jordan.
The strategic importance of energy cooperation between the Middle East and North Africa is stronger than ever.
In this context, the French role is highlighted by its expertise in the areas of building new smart infrastructure, integrating renewable energies into the grid, and energy storage, which qualifies it to play an important and specific role in helping the Middle East and North Africa region achieve its carbon reduction goals.
In addition, the overall familiarity of French equipment manufacturers with the electrification of unconnected and isolated sites, with appropriate off-grid / mini-grid solutions, meets the specific requirements of the region.
As MEE coincides with the announcement that the UAE will host the UN Climate Conference (COP28) in 2023, French companies have been keen to introduce new solutions and systems to support the energy transition, cleaner energy production and sustainable energy.
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The UAE is hosting the UN Climate Conference in 2023, and French companies are offering innovative energy solutions to the region.

Jordan aims to reach 50% renewable energy by 2030 and has 2.6 gigawatts of renewable energy linked to the grid.

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Content: Energy: Jordan ’ s Green Hydrogen Strategy in its Final Stages
The Secretary General of the Ministry of Energy and Mineral Resources, Engineer Amani Al-Azzam, confirmed on Tuesday that the green hydrogen strategy in Jordan is in its final stages, which will enable investors to produce green hydrogen and expand its uses in Jordan.
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In a speech at the opening of the 8th Arab Conference on Renewable Energy and Energy Efficiency under the patronage of Princess Sana Assem, Al-Azzam said that the Ministry of Energy is working on the basis of royal visions and the vision of economic modernization to implement a package of projects that make Jordan a regional center for green energy through renewable energy or hydrogen.
She pointed out that the energy sector in Jordan is one of the sectors that work within long-term national strategies, where the comprehensive national strategy for the energy sector for the years (2020-2030) focuses on achieving energy security by diversifying sources and forms of imported energy, developing and exploiting local energy sources, creating opportunities for the private sector and encouraging it to invest in regional energy interconnection projects, maximizing its use and improving energy efficiency in all sectors.
Al-Azzam pointed out that the strategy aims to increase the share of renewable energy in electricity generation, pointing out that 2.6 gigawatts comes from renewable energy projects linked to the grid, whether solar or wind, to reach its contribution in electricity generation to 27% during 2022.
On the modernization of the strategy, she stressed that the goal of the strategy today is to reach 50% of the electricity generated from renewable energy sources by 2030, noting that the ministry has taken all necessary measures to ensure the safety of the electrical system and the reliability of the network, such as introducing new technologies in the field of energy storage, smart meters, and enhancing electrical connectivity with neighboring countries.
During the session "Renewable Energy and Sustainability" within the activities of the first day of the forum, Al-Azzam pointed out that the ministry is continuing to prepare a strategy for the transition towards electric transport in cooperation with all parties, pointing out that this will enable raising more energy on the electrical grid, and explained the role of the ministry in preparing the third national energy efficiency plan (2023-2025).
The 8th Arab Renewable Energy and Energy Efficiency Forum, held from 19 to 21 September under the theme "Towards a sustainable Arab world and economic integration for the well-being of Arab peoples", focuses on several axes, the most important of which are renewable energy legislation, green economy, sustainable development in the Arab world, artificial intelligence, green transport, electric cars, energy security, green hydrogen and others.
It is noteworthy that the forum is organized by the Arab Renewable Energy Authority, in cooperation with the Jordanian Renewable Energy Association, the Smart Cities Association and a number of private sector institutions and a large number of specialists in the field of energy from different Arab countries.

Egypt has signed a cooperation agreement for a 1 GW solar and 200 MWh battery storage project.

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Content: Scatec at COP28: Accelerating renewable energy transition from Egypt to South Africa

Oslo, NORWAY

Dubai, 2 December 2023: This week, Scatec ASA, a leading renewable energy company, is actively engaging in the UN Climate Change Conference in Dubai (COP28). Our focus is to underscore renewable energy as an unequivocal solution to climate change and emphasise the critical need for increased green energy investments in emerging markets.

COP28 serves as a pivotal platform for global stakeholders to reinforce commitments aimed at averting catastrophic consequences of climate change. Scatec aligns with climate experts in stressing the urgency of the situation and the imperative to continue advancing towards the objectives outlined in the Paris Agreement. There's no time to waste, and collective progress is crucial for safeguarding our planet's future.

“We are at COP28 to highlight the key role renewable energy must play in our energy future, "At COP28, our focus is on underscoring the crucial role renewable energy must assume in shaping our energy future, particularly in emerging markets," states Scatec CEO Terje Pilskog. "To achieve our global climate targets, a substantial escalation of renewable energy solutions across various technologies is imperative."

Egypt’s first hybrid solar and battery storage project
As part of these efforts, Scatec today signed a landmark early-stage cooperation agreement together with the Egyptian Electricity Holding Company (EEHC) for a future 1 gigawatt (GW) solar and 200 MWh battery storage project, during a signing ceremony in Dubai today. In connection with this agreement, the African Development Bank Group (AfDB) has signed a letter of intent for the financing package of the project at competitive terms. Next steps in the initial development phase include securing land lease agreements and grid connection for the project.

Innovative and unique
A solar and battery storage plant uniquely combines two renewable technologies, addressing intermittency challenges, enhancing grid stability, and providing reliable, green power. Dispatchable power production and the ability to release stored energy during peak demand make hybrid plants ideal for meeting region-wide energy needs during periods of high consumption.

 “We are very pleased with the agreements we were able to sign during COP28 and thank all stakeholders and parties involved,” says Pilskog. “A project like the one initiated today reinforces our commitment together with Egypt and Norway to further accelerating the renewable energy transition.”

 As COP28 gathers world leaders, civil society, and corporates, Scatec underscores the importance of maintaining momentum in the pursuit of sustainable solutions. The company’s plea for collaboration echoes the shared responsibility to address climate challenges and marks a call to action for a resilient, green future.

Our goal is to actively engage in conversations that expedite the green transition. Leveraging our projects, we aim to demonstrate that impactful change is not only achievable but can also be realised swiftly and at scale. Key markets hold untapped potential, serving as catalysts for regional and continental development.

For further information, please contact:
For analysts and investors: Andreas Austrell, VP IR, phone: +47 974 38 686,  andreas.austrell@scatec.com
For media: Meera Bhatia, SVP Communications & Government Affairs, phone: +47 468 44 959, meera.bhatia@scatec.com

About Scatec
Scatec is a leading renewable energy solutions provider, accelerating access to reliable and affordable clean energy emerging markets. As a long-term player, we develop, build, own, and operate renewable energy plants, with 4.3 GW in operation and under construction across four continents today. We are committed to grow our renewable energy capacity, delivered by our passionate employees and partners who are driven by a common vision of ‘Improving our Future’. Scatec is headquartered in Oslo, Norway and listed on the Oslo Stock Exchange under the ticker symbol ‘SCATC’. To learn more, visit www.scatec.com or connect with us on LinkedIn

This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act

The project, financed by the African Development Bank Group, will enhance grid stability and provide reliable power.

Egypt and Saudi Arabia have signed cooperation memorandums for electricity exchange.

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Shaker unveils electricity plan to conserve climate
Minister of Electricity and Renewable Energy Mohamed Shaker said that there are close relations between Egypt and Saudi Arabia.
The minister added in special statements to the site of Sada al-Balad, that memorandums of cooperation have been signed linking electricity between the Kingdom and Egypt and
Exchange of energy.
He pointed out that Egypt is interested in renewable energy as well as Saudi Arabia and revealed that he visited a group of facilities in Saudi Arabia and it was impressive.
We have a plan to conserve energy and look at how the climate is going to be more conserved.
He pointed out that Egypt has the ability to benefit from wind and solar energy.
He went back and talked about the agreements that were made today and said that we work from the first minute when we sign any agreement.
The minister explained that there is work in the field of green hydrogen.

Uzbekistan aims to increase renewable energy to 40% by 2030, with the International Finance Corporation (IFC) supporting Uzbekistan's renewable energy development.

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Content: ...
Efficient energy storage solutions will ensure stable energy supply in Uzbekistan - IFC (Exclusive interview)
Uzbekistan Materials 3 July 2024 07: 00 (UTC + 04: 00)
Aidan Aleskerli
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Since renewable energy sources are unstable, the development of effective energy storage solutions will be a key factor for ensuring a stable energy supply in Uzbekistan, Neil McCain, Regional Manager of the International Finance Corporation (IFC, part of the World Bank Group) for Uzbekistan and Turkmenistan, told Trend in an exclusive interview.
“Uzbekistan, like many other countries, faces numerous obstacles in its attempts to switch to renewable energy sources.
The country has significant reserves of natural gas and its economy is heavily dependent on fossil fuels.
Shifting away from these energy sources can be economically and politically challenging.
To do this, it is necessary to enlist public support and raise awareness of the many benefits of renewable energy, ” he said.
McCain noted that building the necessary infrastructure, such as solar power plants, wind turbines and a revamped electrical grid, requires significant investment, time and technical expertise.
In addition, attracting the necessary capital can be difficult, as it often involves large up-front costs and long-term investments before a return is obtained.
Addressing these multifaceted challenges will require coordinated efforts on the part of the Government, the private sector and international partners.
“The country is well positioned to meet growing energy needs and transition to a clean energy economy.
Renewable energy sources can help diversify the energy balance and reduce heavy dependence on natural gas.
The government aims to increase the share of renewable energy in electricity generation to 25 GW, or 40% of the total electricity consumption in the country, by 2030.
These efforts support the country ’ s transition to clean energy and are aimed at meeting the growing demand for energy in Uzbekistan ’ s economy and among its citizens.
In this context, the World Bank Group is helping Uzbekistan develop 1,000 MW of solar and 500 MW of wind energy by attracting private sector investment, ” McCain said.
IFC is deeply committed to supporting renewable energy in emerging markets, he said, and Uzbekistan is a key country in this regard.
The corporation is involved in several initiatives, including consulting and financing solar energy projects.
One of the first projects is a solar power plant in the Navoi region of Uzbekistan, which provides electricity to 31,000 homes.
This project was implemented as part of a public-private partnership (PPP) between the government of Uzbekistan and the Emirati company Masdar.
As a transaction consultant, IFC assisted the government in developing and conducting a PPP tender under the Scaling Solar program.
This has become an important historical point on the path of renewable energy development in the country.
The representative of IFC noted that in cooperation with other creditors, the corporation also provided a financing package to support the construction of a 500-megawatt wind farm in the Navoi region, which is also being built by Masdar.
It will be able to power 500,000 homes and will be the largest facility of its kind in Central Asia — and by the way, the largest wind farm IFC has ever sponsored.
"Together with our public and private sector partners, we are currently exploring the possibility of using shallow geothermal energy to heat and cool buildings.
The use of this energy source in the country will help reduce dependence on gas and electricity and ease the load on the power grid.
We are currently studying the licensing and permitting processes, as well as the local production and distribution of heat pumps.
In addition, we are exploring regulatory and incentive policies to encourage investment, facilitate the expansion of surface geothermal solutions, and implement surface geothermal projects in the country, ” McCain said.
He noted that at the moment, IFC ’ s PPP transaction advisory portfolio in Uzbekistan includes projects at various stages of development and covers the energy, health and education sectors, and the total amount of expected mobilization is about $700 million.
In addition, IFC has closed several projects in energy and health with a total expected mobilization of about $1.8 billion.
"But much more can be done.
While most current PPP projects are implemented in the energy, utilities and health sectors, the government is beginning to focus on other important sectors such as education, irrigation, transportation, water supply and wastewater treatment.
These sectors are experiencing difficulties due to years of underinvestment and suboptimal performance and services, as well as the rapid pace of urbanization, but we believe that PPPs can attract the necessary investment and expertise of the private sector to these sectors.
We are ready to support this, including through the development, structuring and implementation of PPP projects, ” the IFC representative stressed.
He added that another key innovation in the solar energy sector is the integration of battery energy storage systems.
These systems are critical to addressing the intermittent nature of solar energy, as they accumulate excess energy produced during peak solar activity hours and make it available during periods of low solar generation or high demand.
This not only ensures a stable power supply, but also increases the efficiency of solar power plants.
The battery storage market is at a crucial stage of its development, and prices and technologies are expected to become even more profitable over time.
“In Uzbekistan, the use of innovative batteries with solar power plants is still an innovation, but the potential benefits are quite significant.
Batteries can help stabilize the national grid, reduce reliance on fossil fuels, and provide more reliable power to remote areas.
It can also contribute to the country ’ s goals of reducing greenhouse gas emissions and moving towards a more sustainable energy system, ” he said.
According to McCain, for these reasons, supporting energy storage technologies is a strategic direction for Uzbekistan, as it will expand the scope of renewable energy sources.
By helping to introduce technology in the energy sector, IFC supports Uzbekistan ’ s efforts to expand the use of renewable energy sources, improve energy security, grid stability, and expand access to electricity.
“The government of Uzbekistan is highly supportive and responsive to changes, implementing reforms to attract foreign investment and liberalize the energy market.
This creates favorable conditions for investment in renewable energy sources in the country, and thanks to the implementation of current projects, Uzbekistan is on its way to becoming a regional leader in the field of renewable energy.
Moreover, the country ’ s strategic location and rich natural resources provide a unique opportunity not only to meet its own energy needs, but also to potentially export clean energy in the future.
IFC remains committed to promoting sustainable energy projects.
We also encourage other investors to explore these opportunities and contribute to the country ’ s future in renewable energy, ” he added.
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Battery energy storage systems are being integrated with solar power plants in Uzbekistan, expanding the scope of renewable energy.

The UAE's Eldavra photovoltaic power station reduces carbon emissions by 2.4 million tons per year.

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Content: People 's Network > > International
Dubai Climate Conference _ Roundup: China and Middle East countries join hands to tackle climate change
December 9, 2023, 13: 49 | Source: Xinhua Network
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Xinhua News Agency, DUBAI, December 8, Roundup: China and Middle East countries join hands to combat climate change
By Xinhua reporter Luo Chen, Chen Mengyang, Wang Yan
The 28th Conference of the Parties to the United Nations Framework Convention on Climate Change (COP28) is taking place in Dubai, UAE.
This is the second consecutive year that the United Nations Climate Change Conference is being held in the Middle East after Sharm el-Sheikh, Egypt.
Just before COP28 was held, the world's largest single photovoltaic power station contracted by Chinese enterprises - the United Arab Emirates Eldavra photovoltaic power station was fully completed.
Rows of photovoltaic modules in Abu Dhabi ’ s vast desert form a spectacular “energy oasis ”.
The photovoltaic power station, which can supply electricity to 200,000 households, will reduce carbon emissions by 2.4 million tons per year, increasing the proportion of clean energy in the total energy structure of the UAE to more than 13%.
The Middle East is rich in oil and gas resources, and China and Middle East countries have maintained close cooperation in the energy field for a long time
In recent years, as the global climate crisis has become increasingly severe, China and the Middle East countries have accelerated their respective energy transformation steps, while vigorously promoting bilateral and multilateral cooperation in clean energy and renewable energy.
In December 2022, at the first China-Arab Summit, China proposed the "eight common actions" for China-Arab practical cooperation, including joint actions on green innovation and joint actions on energy security.
China has proposed the establishment of the China-Arab International Research Center on Drought, Desertification and Land Degradation and the joint establishment of the China-Arab Clean Energy Cooperation Center, demonstrating its determination to continuously deepen cooperation on climate change.
China has the world 's largest clean power generation system, and the installed capacity of hydropower, wind power and solar power is ranked first in the world. With its technological advantages in the field of clean energy, China and the Middle East countries actively cooperate in clean coal, solar and other fields.
The Haasyan Clean Coal Power Station Project in Dubai, United Arab Emirates, built by Harbin Electric Group Co., Ltd. is the first clean coal power station project in the Middle East and the first power station in the world to achieve dual-fuel full-load power supply.
In May this year, the fourth unit of the project was connected to the grid for the first time.
In addition, the third phase of solar thermal power generation independent power station in Morocco undertaken by Chinese enterprises is the world's largest single capacity tower solar thermal power station, Oman's largest renewable energy project - Oman Ibril photovoltaic project completed last year, Saudi Red Sea New City the world's largest energy storage project is also stepping up construction.
Ahmed Mohamed Massina, Deputy Minister of Electricity and Renewable Energy of Egypt, said that China and Egypt have maintained good cooperation in the field of renewable energy such as wind and solar energy, and expect the two sides to further deepen cooperation in various fields to jointly address climate change.
In addition to energy cooperation, China has also provided assistance to Middle East countries in the fields of desalination, green finance and green agriculture to jointly address the challenges posed by climate change.
In November 2022, Unit 2 of the Tawiller Seawater Desalination Project in Abu Dhabi, United Arab Emirates, built by SEPCO, was successfully connected to the grid.
The project is the largest reverse osmosis seawater desalination project under construction in the world.
Martin Trico, Chairman of the Investment Bank of Abu Dhabi First Bank, said that China ’ s “double carbon ” goal is highly compatible with the UAE government ’ s goal of achieving carbon neutrality by 2050, and Abu Dhabi First Bank issued the first RMB green debt in the Middle East and North Africa, and the space and potential for cooperation between the two sides is huge.
(Participating reporters: Guo Shuang, Tai Puping, Su Xiaopo)
(Edited by: Su Yanxiang, Xu Xiangli)
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