The Middle East region has high solar energy potential, with several countries investing heavily in solar energy as part of their energy transition strategies.

The region's current energy mix is still dominated by fossil fuels, which contribute 87% to the energy mix, while solar energy provides only 2%.

However, countries in the region are committed to increasing their renewable energy capacity, with the COP28 pledge aiming to boost renewable energy capacity.

The UAE leads Arab countries in solar energy production, with a significant focus on renewable energy investments.

Egypt, on the other hand, leads the Arab world in wind energy production, showcasing its diverse renewable energy portfolio.

Saudi Arabia and the UAE are expected to play a large role in renewable energy, driving the region's transition to cleaner sources of energy.

The Middle East saw a 12.8% increase in renewables in 2022, demonstrating the region's growing focus on clean energy.

Arab countries are planning to invest $1 trillion in renewables by 2040, a significant investment that will drive the region's energy transition.

The renewable energy capacity in the region is projected to reach 45 gigawatts by 2027, a substantial increase from current levels.

Green Hydrogen projects are expected to generate $200 billion by 2050, offering a new avenue for clean energy investments.

Total solar energy investment in the Middle East is nearly $100 billion, with China's Jingke Energy and Saudi Arabia's sovereign fund investing $3 billion in a joint project.

The UAE aims to achieve zero emissions by 2050, with a target of investing $36 billion to meet its climate goals by 2030.

The country also plans to increase its clean energy capacity to 19.8 gigawatts by 2030 and reduce carbon dioxide emissions by 100 million metric tons.

Saudi Arabia, on the other hand, targets zero emissions by 2060 and aims for 50% renewable energy by 2030.

The GCC countries have invested $1.7 trillion in renewable energy in 2022, with a goal of increasing their GDP to $13 trillion by 2050 through green growth.

The UAE has launched the Earth Platform to measure energy transformation progress and aims to invest AED 150-200 billion in renewable energy by 2030.

The country also targets 50,000 new green jobs by 2030 and plans to produce 1.4 million tonnes of hydrogen per year by 2031.

The Middle East and North Africa region is a global leader in carbon capture utilization and storage, and the UAE outshines other MENA countries in climate change adaptation measures.

The EY climate change readiness index measures the readiness of GCC members and Egypt and Jordan to address climate change, with the UAE leading the MENA region in energy transition and renewables development.

The index offers scorecards to track performance relative to global benchmarks, providing a tool for governments to evaluate their progress towards climate goals.

The World Economic Forum publishes the Energy Transition Index, which assesses 120 countries' performance in energy transition, with Jordan ranking 71 globally and fifth in the Arab world.

The index evaluates countries' energy transition progress based on two main axes: Energy System Performance and Transformation Readiness.

The UAE sees energy transition as an economic growth opportunity and aims to leverage its position to drive down carbon intensity, with a goal of building a zero-carbon hydrogen market.

The Net Zero Strategic Initiative aims to create new industries and jobs, with Masdar targeting 100 gigawatts of renewable energy capacity.

The Arab region is expected to invest $879 billion in the energy sector over the next five years, with a focus on blue and green hydrogen, and plans to export low-carbon hydrogen to Europe and Southeast Asia.

The region's natural gas share in power generation is expected to maintain 70-75% by 2024, while oil-fired energy sources are expected to decline to 20% of total power generation by 2024.

The UAE aims to reduce its total water demand by 21% and increase wastewater reuse to 73%, with a goal of achieving net zero emissions in the water and energy sectors by 2050.

The Kingdom of Bahrain has national projects for Sustainable Development Goals, with Bapco Energies leading the energy transition in the country.

The Middle East Sustainability Forum promotes regional climate action, with private and public sectors engaging in climate action and adopting modern technology to drive systemic change.

The UAE has proposed its Energy Strategy 2050, which aims to develop a green economy and increase the use of renewable energy in the country.

Iraq has set a target of 12 gigawatts of renewable energy by 2030, and has a $680 million fund supporting clean energy development.

The country has 8 to 10 hours of daily sunshine for PV deployment, making it an ideal location for solar power.

Egypt is developing transmission and distribution networks into smart networks, and has added over 30 gigawatts to its generation capacity.

The country has eliminated frequent power outages and achieved a safe reserve of electricity, and is implementing smart meter projects with over one million meters installed.

Iraq and Jordan are linking their power grids to ensure a stable energy supply, with Jordan contributing $30 million to Phase 1 funding.

The project will supply 150 MW to Iraq in the first phase, and is expected to be launched in August.

The Middle East is expected to play a key role in enhancing global energy security as the region shifts away from reliance on fossil fuels and towards renewable energy sources.

New oil discoveries in countries like Egypt have improved the lives of citizens and the national economy, providing more social services and programs, and creating jobs in the exploration and production sectors.

However, the transition to renewable energy is expected to create new jobs in the Middle East, with the renewable energy sector employing over 11 million people globally.

The region has abundant solar and wind resources, making it an ideal location for renewable energy production, with countries like Saudi Arabia and the UAE investing heavily in solar and wind power.

Egypt has invested $84 billion in renewable energy deals, aiming to export clean energy to the world, and has signed framework agreements worth $84 billion for green hydrogen production.

The transition to renewable energy is expected to stimulate economic growth and job creation, with the hydrogen sector expected to attract $11.7 trillion in investment by 2050.

The Middle East and North Africa region has the potential to generate 60% of its electricity from renewables by 2030, reducing greenhouse gas emissions and environmental problems.

Renewable energy development can create new income sources for countries, promote economic sustainability, and enhance energy security, with Jordan achieving 31% renewable energy by 2023, exceeding its 2030 target.

The UAE aims to increase its clean energy share to 50% by 2050, and has launched initiatives like the Net Zero Strategic Initiative, focusing on new industries and jobs.

The region's energy transition is also expected to have social impacts, including improving livelihoods in rural Arab areas, achieving social integration and gender equality, and addressing climate change effects.

The energy transition in the Middle East is expected to require huge capital and foreign technology, with countries like Hong Kong supporting the region through financial services and cooperation.

The GCC countries have opportunities for renewable energy leadership, with solar PV being the least expensive energy option, and renewable energy production capacity increasing from 176MW to 5.6GW.

The Middle East Climate Week discusses the renewable energy transition, with Saudi Arabia hosting the Middle East and North Africa Climate Week 2023, and adopting programs to address climate change.

The region's energy transition is crucial in achieving climate goals, with the renewable energy sector providing a comprehensive solution to the climate crisis, and reducing greenhouse gas emissions significantly.

The UAE aims to achieve zero emissions by 2050, with a target of investing $36 billion to meet its climate goals by 2030.

The country also plans to increase its clean energy capacity to 19.8 gigawatts by 2030 and reduce carbon dioxide emissions by 100 million metric tons.

Saudi Arabia, on the other hand, targets zero emissions by 2060 and aims for 50% renewable energy by 2030.

The GCC countries have invested $1.7 trillion in renewable energy in 2022, with a goal of increasing their GDP to $13 trillion by 2050 through green growth.

The UAE has launched the Earth Platform to measure energy transformation progress and aims to invest AED 150-200 billion in renewable energy by 2030.

The country also targets 50,000 new green jobs by 2030 and plans to produce 1.4 million tonnes of hydrogen per year by 2031.

The Middle East and North Africa region is a global leader in carbon capture utilization and storage, and the UAE outshines other MENA countries in climate change adaptation measures.

The EY climate change readiness index measures the readiness of GCC members and Egypt and Jordan to address climate change, with the UAE leading the MENA region in energy transition and renewables development.

The index offers scorecards to track performance relative to global benchmarks, providing a tool for governments to evaluate their progress towards climate goals.

The World Economic Forum publishes the Energy Transition Index, which assesses 120 countries' performance in energy transition, with Jordan ranking 71 globally and fifth in the Arab world.

The index evaluates countries' energy transition progress based on two main axes: Energy System Performance and Transformation Readiness.

The UAE sees energy transition as an economic growth opportunity and aims to leverage its position to

The Middle East region has high solar energy potential, with several countries investing heavily in solar energy as part of their energy transition strategies.

Title:

Content: Sunday, 24 September 2023 02: 03 GMT
2030 Arab Goal to Advance Renewable Energy Capabilities Globally
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Several Arab countries are accelerating to keep pace with the international aspiration to achieve the goal of tripling global renewable energy capacity by 2030, which is receiving widespread attention, amid various plans and strategies at national levels in many countries.
The Arab countries that are likely to play the largest role in this regard, according to industry experts, are the UAE, Saudi Arabia, Oman, Kuwait, Egypt, Jordan, Algeria and Morocco, by injecting more investments into this vital and promising sector.
During the recent G20 summit in New Delhi in September, G20 leaders expressed their support for all efforts to increase renewable energy capacity and pledged to accelerate measures to address environmental crises and challenges.
With this growing international interest in the energy transition, the plans are facing many challenges, including (but not limited to) access to finance, especially for low- and middle-income countries, with significant investment required over the coming years.
(Al-Bayan), a group of American academics and specialists in the renewable energy sector were surveyed about the main opportunities and challenges on the way to increase the desired capacity, the investments required to achieve that goal, and the extent of its expected environmental and economic repercussions.
Huge spikes.
Achieving the ambitious goal of doubling global renewable energy capacity in the near term will be reflected concretely in several contexts, explains Gregory Nemet, a specialist in the analysis of international energy systems and environmental policies at the University of Wisconsin. By 2030, it will deliver significant benefits in terms of jobs, economic development, and improved air quality, as well as putting the world on the path to addressing climate change in the long term.
“The costs of renewable energy, especially solar and wind, have dropped dramatically over the last 10 years, and most experts expect them to continue to fall, ” says Nemet, explaining that a clean, affordable source of energy creates huge opportunities, allowing global renewable energy capacity to be tripled by taking full advantage of it.
According to Nemet, the 3-fold increase also presents challenges, such as “access to finance for low- and middle-income countries, and investments in electricity grids to accommodate this growth ”, stressing that“ challenges can be overcome through sustained efforts and supportive policies, as we have seen many examples in the recent past. ” A sign of broad international cooperation is required in this regard.
Last year, renewable energy capacity (globally) increased by 9.6 percent to 3,372 gigawatts, an increase of a record 295 gigawatts, despite global uncertainty in light of geopolitical developments and the Ukrainian war, according to data published by the International Renewable Energy Agency (IRENA) on March 22.
Almost half of the new capacity from renewable energy in Asia has been added, with China contributing more than 141 gigawatts to the new capacity of the entire continent.
Renewable energy sources in Europe and the United States grew by 57.3 gigawatts and 29.1 gigawatts respectively.
African capacity increased slightly by 2.7 gigawatts.
According to IRENA data, although hydropower accounts for the largest share of total global renewable energy capacity at 1,250 gigawatts, solar and wind power continue to dominate new capacity, contributing 90% of total capacity last year.
Solar capacity came first with an increase of 22%, followed by wind power with an increase of 9%.
Policies and Incentives
University of Massachusetts academic David Turcotte, whose research interests include climate change and environmental justice, believes that there are many opportunities in the context of increasing global renewable energy capacity, due to increases in oil prices as a result of the Ukrainian crisis, which makes renewable energy sources more cost-effective, as well as worsening economic and human costs. Recurrent, more severe climate change disasters.
“Many developed countries have expanded policies and incentives to encourage increased capacity to produce renewable energy.
However, we still face a lot of challenges […]
That threatens to derail efforts to increase renewable energy capacity, and the transition to a clean energy economy.
Among these challenges is the lack of adequate funding to support increases in renewable energy capacity in developing countries, a challenge he described as “serious. ”
While international efforts are accelerating to target investments in the context of increasing global renewable energy capacity, those investments are still below the 1.5 ° C target.
This is shown by data from IRENA and the Climate Policy Initiative (CPI) released in February, which estimate the total volume of investments in renewable energy sectors during 2022 at $499 billion, up from $430 billion in the previous year 2021.
Developments in the world over the past year, especially with the start of the Russian military operation in Ukraine in February 2022, have also encouraged many countries to move more towards renewable energy sources, to overcome the energy crisis caused by the consequences of the war, in the interest of the desired goal of increasing capacity.
Required investments
John Hall, Professor of Mechanical Engineering at the Center for Energy Production and Infrastructure, University of North Carolina, United States, notes that “the goal of tripling global renewable energy capacity by 2030 is a challenge, and achieving the goal requires an intensive global strategy, focused on significant financial investment, technological innovation targeting these communities, inclusive policies, and collaborative efforts. ”
Speaking with Al-Bayan, he stressed that community participation and infrastructure development in underserved areas should be central to the strategy, leading not only to the promotion of the energy transition, but also to economic upgrading.
The International Renewable Energy Agency (IRENA) estimates that $4 trillion per year will be required in the clean energy sector until 2030 to strengthen global capacity in this regard.
Logistical challenges
Warren Mabey, an academic at Queen ’ s University who specialises in energy policy and natural resource management, told Al Bayan that “it is technically possible to triple global renewable energy capacity over the next six years, and this will put enormous pressure on the global supply chains that support the sector. and manufactured goods, necessary for the transformation process).
Mabe believes that “the cost will be enormous, and the logistical challenge may be too great to overcome ”, stressing the need for“ strong and consistent leadership from countries around the world to achieve this. ”
Arabic Steps
At the Arab level, five Arab countries (Egypt, Morocco, Oman, Saudi Arabia and the United Arab Emirates) are expected to account for about 72% of the region ’ s total growth in renewable energy, according to the Organization of Arab Petroleum Exporting Countries (OAPEC), which expects renewable energy capacity to reach 45 gigawatts by 2027, an increase of 3 times. Compared to the last five years.
The International Renewable Energy Agency (IRENA) estimates that in 2022, the Middle East saw the highest increase in renewables ever, with 3.2 gigawatts of new capacity added last year, a 12.8 percent increase over the previous year.
According to the Arab Renewable Energy Authority (AREA), the volume of investments by Arab countries in renewable energy projects is expected to reach $1 trillion by 2040, in light of the interest of Arab governments in this file, to achieve global environmental goals.
A Great Leap in 10 Years
According to the current data, the renewable energy sector in the region is expected to witness a huge leap in the next 10 years, at a time when eight Arab countries are leading this trend, according to the researcher in international relations and political economy, Abu Bakr al-Deeb, adviser to the Arab Center for Studies and Research, who tells Al-Bayan that the countries strongly candidate to move in this direction are:, Kuwait, Egypt, Jordan, Algeria and Morocco).
Aldeeb also cites the volume of electricity generated from renewable sources in the Middle East and Arab countries, which is expected to increase six-fold in 10 years through heavy reliance on solar photovoltaic energy, noting that the Arab region has “great potential ” to help launch major projects to produce energy from the sun. And wind, among these possibilities or advantages (the right climate, the bright sun most days of the year, as well as human expertise, and financial capabilities also for some countries).
The UAE is at the top of the list of Arab countries that produce electricity from solar energy, while Egypt is the largest country in the Arab world in terms of electricity production from wind energy, according to a report issued by (Global Energy Monitor), which Al-Deeb cites when explaining the progress made by some Arab countries in this sector, The UAE, Egypt, Jordan and Morocco are among the first Arab countries to establish solar and wind power plants.
According to the report, renewable power plant projects for Arab countries are likely to achieve 92% of the region ’ s total target by 2030 when completed.
One of the most reliable projects in this regard is the Green Hydrogen projects, through which the Middle East is seeking global leadership, with export revenues likely to reach $200 billion by 2050 for the Gulf countries, according to a study by Dii Desert Energy.
In this context, Al-Deeb notes the abundance of renewable energy resources, clean hydrogen, human expertise, capital, and their geographical proximity to the European market, all of which provide them with important and growing opportunities.
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The region's current energy mix is still dominated by fossil fuels, which contribute 87% to the energy mix, while solar energy provides only 2%.

Title:

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

However, countries in the region are committed to increasing their renewable energy capacity, with the COP28 pledge aiming to boost renewable energy capacity.

The UAE leads Arab countries in solar energy production, with a significant focus on renewable energy investments.

Egypt, on the other hand, leads the Arab world in wind energy production, showcasing its diverse renewable energy portfolio.

Saudi Arabia and the UAE are expected to play a large role in renewable energy, driving the region's transition to cleaner sources of energy.

The Middle East saw a 12.8% increase in renewables in 2022, demonstrating the region's growing focus on clean energy.

Arab countries are planning to invest $1 trillion in renewables by 2040, a significant investment that will drive the region's energy transition.

The renewable energy capacity in the region is projected to reach 45 gigawatts by 2027, a substantial increase from current levels.

Green Hydrogen projects are expected to generate $200 billion by 2050, offering a new avenue for clean energy investments.

Total solar energy investment in the Middle East is nearly $100 billion, with China's Jingke Energy and Saudi Arabia's sovereign fund investing $3 billion in a joint project.

Title:

Content: Land solar energy investment set off the "Middle East fever" total amount of nearly 100 billion
China's new energy investment set off the "Middle East fever", solar industry giants Jingke Energy, TCL Central almost at the same time announced cooperation with Saudi Arabia (Saudi Arabia) sovereign fund solar projects, a total investment of about 3 billion US dollars (about NT $97.5 billion).
In addition, inverter giant Sunlight Power announced the successful signing of the world's largest energy storage project with Saudi company ALGIHAZ, with a capacity of up to 7.8GWh.
Analysts pointed out that the above case means that in addition to the continued investment of Middle East funds in the mainland, in the solar industry is subject to overcapacity criticism, mainland funds choose to go to the Middle East to develop the solar industry.
Founded in 1971, PIF is one of the largest and most influential sovereign renewable wealth funds in the world. Its wholly-owned subsidiary, RELC, is one of the largest and most influential renewable wealth funds in the world. and a leader in green energy technology manufacturing.
Founded in 2021 by two major conglomerates, Abunayyan and Al Muhaidib, VI aims to build a new energy industry chain manufacturing capacity in Saudi Arabia to meet the huge demand for new energy in the Middle East and the world, and is an investor and developer of green energy industrial projects to support the localization of supply chains.
Among them, JinkoSolar ’ s joint venture company plans to set up a joint venture company in Saudi Arabia to build 10GW of high-efficiency batteries and components, with a total investment of 7.157 billion yuan.
JinkoSolar has a market share of more than 50% in the Middle East in 2023, including more than 70% in Saudi Arabia.
The joint venture company of TCL Central has an annual output of 20 GW of solar wafer projects in Saudi Arabia, with a total investment of about RMB15.1 billion.
It is also TCL ’ s first overseas solar wafer factory in Central.
After the project is launched, it will become the first solar wafer project in Saudi Arabia and the largest wafer factory in the world.
Vision Group ’ s joint venture will manufacture wind turbines and critical components locally. Helping Saudi wind power value chain achieve 75% localized production by 2030.
And Vision is the global wind power leader, overseas wind orders for two consecutive years accounted for 70% of the orders of mainland China's wind power enterprises.
At the same time, Sunlight Power also announced three sites in the Middle East energy storage project, in the Najran, Madaya and Khamis Mushait regions of Saudi Arabia, with deliveries starting in 2024 and full capacity grid operation in 2025.
However, Sun Power did not disclose the contract amount in the announcement.
TCL Middle East Wealth
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The UAE aims to achieve zero emissions by 2050, with a target of investing $36 billion to meet its climate goals by 2030.

Title:

Content: A new era of climate action
Good luck, Mr. Adele.
The 28th Conference of the Parties to Climate Change (COP 28) concluded in Dubai last December with a landmark agreement between the 198 parties, ushering in a new era of climate action.
Add Announcement
The final negotiations saw several landmark commitments on their agenda, including an unprecedented reference to switching away from fossil fuels in energy systems and tripling the capacity of renewables as part of the UAE agreement.
The World Bank has played a key role in moving the agenda forward, completing country climate and development reports for a total of 42 economies, pledging 45% of its annual funding for climate-related projects during fiscal year 2025, and being tasked with hosting the Losses and Damage Fund.
Some of the world ’ s largest oil producers have also made important announcements about their commitments to clean energy.
The event was a unique opportunity for GCC countries to reaffirm their commitment to green growth and the climate change adaptation agenda.
The Arab Coordination Group, a strategic alliance of regional and international development institutions, announced its intention to allocate US $10 billion until 2030, in line with the group ’ s previous pledge of US $24 billion to support the green transformation.
In recent years, GCC countries have announced national targets and ambitious regional initiatives to address climate change.
These include the UAE and Oman ’ s commitment to achieve zero emissions by 2050; Saudi Arabia ’ s commitment to achieve zero emissions by 2060; and the Green Middle East Initiative.
Many have also joined the Global Methane Pledge (an international effort to reduce methane emissions by a minimum of 30% by 2030) and invested in programs that support low-carbon technologies such as green hydrogen, a circular carbon economy, increased participation in carbon markets, and local energy efficiency initiatives, to name a few.
The private sector plays a crucial role in the success of climate initiatives in the GCC by pushing for a low-carbon transition and attracting green investments.
Transforming resource consumption, energy production, manufacturing processes and other economic systems will require significant investment to meet climate targets.
For example, the UAE ’ s Nationally Determined Contributions (NDCs) estimate its investment needs to be close to $36 billion between 2023 and 2030 to meet the climate goals.
The International Energy Agency (IEA) estimates that 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.
Sustained public sector commitment is also needed in tandem, with concrete policy interventions to drive change at the speed and scale needed to address environmental challenges and support a low-carbon transition.
Among the first of these actions, green growth must be integrated as a national policy that contributes to shaping the future in all relevant sectors; energy, water, food security, urban planning and services, among others.
Rapid green growth across sectors – including renewables, energy storage, electric vehicles, green buildings, the circular carbon economy and waste recycling – provides opportunities for skilled jobs, productivity growth and economic diversification and transformation.
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 tons 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 operate as usual, their combined GDP will reach $6 trillion by 2050.
However, implementing a green growth strategy would accelerate its economic diversification and possibly contribute to increasing its GDP to more than $13 trillion by 2050.
The Gulf Cooperation Council (GCC) countries are pursuing ambitious targets to generate electricity from renewable sources.
For example, Saudi Arabia aims to get 50% of its energy mix from renewable energy by 2030, while Oman aims to secure 30% of its electricity from renewable sources by 2030.
The UAE, which already has three of the world ’ s largest and least expensive solar plants, has announced a roadmap for hydrogen leadership, and Abu Dhabi National Oil Company (ADNOC) plans to sequester 10 million tonnes of carbon dioxide annually, in addition to ambitious investments in renewable energy.
In addition, the GCC is moving towards development strategies geared towards the use of public transport with the opening of mass transit systems in Dubai and Doha, which are nearing completion in Riyadh.
The GCC countries are well positioned to contribute to the global transition to a low-carbon economy, balancing energy security and the deployment of renewable energy sources for a zero-carbon 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.
Safaa Al-Tayeb Al-Koogli, World Bank Director in the Gulf Cooperation Council.
Syed Adil Abbas, Regional Climate Change Coordinator for the Middle East and North Africa at the World Bank

The country also plans to increase its clean energy capacity to 19.8 gigawatts by 2030 and reduce carbon dioxide emissions by 100 million metric tons.

Title:

Content: Sunday, 10 December 2023 06: 31 GMT
Suhail Al Mazrouei: UAE accelerates energy transformation
(MENAFN- Al-Bayan)
His Excellency Suhail bin Mohammed Al Mazrouei, Minister of Energy and Infrastructure, said the UAE is accelerating its energy transformation.
This came during the launch of the Earth Platform, which is the first specialized digital platform to provide a comprehensive system that measures five main axes: economy, adaptation and resilience, emission reduction, energy transformation, and health.
It is a unified digital window that enables decision makers and stakeholders to explore the ministry ’ s progress and efforts in the relevant fields, and the extent of its commitment to future targets.
This came during a ceremony organized by the Ministry of Energy and Infrastructure, as part of its participation in the Conference of the Parties to the United Nations Framework Convention on Climate Change (COP28), attended by a number of ministers, government officials and stakeholders.
MAXIMUM IMPORTANCE
His Excellency said in his speech: “The platform is of utmost importance for its role in supporting the future development objectives of the UAE, and is a step in the government ’ s ongoing efforts to achieve digital transformation and enhance our capabilities in the fields of data collection and analysis related to the economy, adaptation and resilience, reducing emissions, and transformation in the energy sector, and health. To meet the challenges of energy transformation with different design options and implementation models.
He added: Through the platform, it is possible to provide a comprehensive and in-depth view on the five axes that it measures, while supporting decision-makers with information and facts, thus contributing to making more effective decisions that serve future trends, objectives, visions and strategies, for its role in facilitating the process of inventorying achievements related to climate neutrality in the energy, transport and infrastructure sectors. Vital for analyzing trends and predicting future challenges and opportunities using emerging technology.
He stressed the role of the platform in supporting the UAE ’ s objectives towards accelerating the energy transition, which the country is working on, in addition to climate neutrality, circular economy and health, reducing emissions, thanks to its deeper and more comprehensive understanding of the challenges, providing powerful tools for planning and working towards a more sustainable future, and its ability to unify energy transition programs at the national level, and providing accurate, reliable and timely data. Helps governments and the private sector develop sustainable strategies that take into account the energy and environmental transformation, contribute to green development, and support the health sector and circular economy.
For his part, Sherif Al-Olama, Undersecretary of the Ministry for Energy and Petroleum Affairs, explained that the new platform is an integrated control panel that includes a modern, comprehensive and more flexible database, through advanced technologies from different sources, allowing a comprehensive and accurate analysis of the five targets, so that decision makers can have full, direct and immediate access to the data, follow up on the stages of achievement and achievement of targets.
The Earth Platform is not just an information management system, it is also a platform to highlight environmental and economic achievements, from massive investments in renewable energy to achieving climate neutrality goals. It also highlights the country ’ s capabilities to innovate and lead in the field of sustainable energy.
“The platform will contribute to achieving the UAE ’ s goals in terms of climate neutrality, green economy and energy strategies, supporting the UAE ’ s goals of global leadership in the most important areas of sustainability, and its efforts to promote progress in NDCs, which increases our climate ambition, ” said the scientists. climate neutral, thus regionally and internationally.
Through the launch of the platform, we seek to stimulate national efforts to shift towards a knowledge economy based on accurate data and analysis, to ensure sustainable and inclusive development.
The Earth platform relies on advanced technologies such as artificial intelligence, big data analytics and real-time connectivity with stakeholders, providing deep understanding and accurate data analytics using machine learning algorithms.
This contributes to identifying future trends, measuring impacts and providing forecasts to support strategic decision-making.
Under the UAE Energy Strategy 2050, we aim to invest AED 150 to 200 billion in renewable energy by 2030, $15 billion (AED 55 billion) to develop decarbonization projects in the diversified value chain by 2030, create 50,000 new green jobs by the same year, and increase clean energy capacity: from 14.2 gigawatts to 19.8 gigawatts. gigawatts by 2030.
In adaptation, it aims to reduce total water demand by 21%, increase the reuse of treated water to 95%, and develop the capacity to provide 91 litres of water per person per day in emergency situations, in addition to achieving a 73% wastewater reuse rate that reflects the UAE ’ s adaptive water resource management strategies. For alternative transportation, besides saving 65 million dirhams annually through energy efficiency and resource management for federal buildings.
In the area of reducing emissions, the ministry aims to achieve net zero emissions in the water and energy sectors by 2050, increase individual and institutional energy efficiency by 42-45% compared to 2019, reduce carbon dioxide emissions by 100 million metric tons from desalination, and reduce 120 tons of carbon dioxide annually in line with global climate action targets.
The energy transformation goals are to triple the share of renewable energy by 2030, increase clean energy generation to 32% by 2030 to meet climate change mitigation targets, produce 1.4 million tonnes per year of hydrogen by 2031, create 5 hydrogen oases by 2050, and expand the use of reverse osmosis technology in desalination.
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Saudi Arabia, on the other hand, targets zero emissions by 2060 and aims for 50% renewable energy by 2030.

The GCC countries have invested $1.7 trillion in renewable energy in 2022, with a goal of increasing their GDP to $13 trillion by 2050 through green growth.

The UAE has launched the Earth Platform to measure energy transformation progress and aims to invest AED 150-200 billion in renewable energy by 2030.

The country also targets 50,000 new green jobs by 2030 and plans to produce 1.4 million tonnes of hydrogen per year by 2031.

The Middle East and North Africa region is a global leader in carbon capture utilization and storage, and the UAE outshines other MENA countries in climate change adaptation measures.

Title:

Content: Toyota CEO Akio Toyoda to step aside and be replaced by Lexus chief Koji Sato

Toyota Motor Corp. Chief Executive Akio Toyoda delivers a speech on the stage at the Tokyo Auto Salon, an industry event similar to the world's auto shows on Jan. 13, 2023 (Shutterstock)
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Updated 26 January 2023

Toyota CEO Akio Toyoda to step aside and be replaced by Lexus chief Koji Sato

TOKYO: Toyota Motor Corp. said on Thursday that Akio Toyoda would step down as president and CEO and hand over the helm of Japan’s largest automaker at a time when the company faces the challenge of adapting to zero-carbon transportation.

Koji Sato, a 53-year-old who is also president of Toyota’s luxury brand Lexus, will become the new CEO, the company said.

The current chairman Takeshi Uchiyamada will drop his chairman title but remain on the board. Toyoda will become chairman in a series of changes that take effect from April 1.

The issue of who would take over from Toyoda, the 66-year-old grandson of the company’s founder, had increasingly been a focus for investors. But the timing of the succession announcement was a surprise.

Under Toyoda, the automaker has followed a go-slow approach to electric vehicles, arguing that the hybrid technology it pioneered with the Prius will remain important along with investments in hydrogen.

That approach has prompted criticism from investors and activists who once widely praised its technology and environmental record.

Toyoda said Sato’s mission would be to transform Toyota into a “mobility company,” without specifying what that strategy would entail.

Sato said Toyoda had offered him the CEO job at the end of the year when both were in Thailand for an event to celebrate Toyota’s 60th anniversary of operations there. “Can you be the CEO?” Sato said Toyoda asked him.

“I didn’t know how to respond,” Sato said. “I thought it was a joke.”

The succession announcement was broadcast on a webcast through the automaker’s Toyota Times channel in a way that looked more like a talk show with a host than a formal corporate announcement.

Toyoda has pushed Toyota’s in-house media channel after complaining that the automaker’s message — including its strategy on hybrids — was not getting to the public.

Koji Endo, a senior analyst at SBI Securities, said the announcement of the leadership change was a “huge surprise” and said Toyoda would likely remain deeply involved in operations from his position as chairman.

“The next few years could be just a kind of apprenticeship for Sato as the next president,” he said.

During his more than a decade at the top, Toyoda presided over the carmaker during a period of intense change in the auto industry and rising uncertainty about how legacy automakers such as Toyota can fend off the challenge from newer — and often nimbler — challengers such as Tesla.

Toyoda, speaking at a news conference, said his term at the helm of Toyota started in 2009 with “crisis after crisis” from the effects of a global recession, to Toyota’s own recall and safety crisis to the disruption that followed the 2011 earthquake and tsunami in northern Japan.

At a shareholder meeting in June last year, Toyoda said he was “thinking about timing and the selection of a successor” when asked about succession planning.

On Thursday, he said Sato was chosen because he “worked hard to learn Toyota’s philosophy.”

“The CEO needs youth, energy, strength.”

Sato started his career at Toyota in 1992, before rising through the ranks to become chief engineer of Lexus International, a luxury auto brand of Toyota, in 2016, according to his profile on the Toyota website.

He has held positions as the president of Lexus International and Gazoo Racing Company, Toyota’s motorsport brand, since 2020. He also took on an executive role at Toyota and became its chief branding officer in January 2021.

Saudi Arabia drives growth across MEA commercial property markets

Updated 26 January 2023

Saudi Arabia drives growth across MEA commercial property markets

RIYADH: Saudi Arabia’s commercial real estate sector is witnessing an upturn as the Kingdom’s plan to diversify its economy continues to drive demand within the overall property market, according to a new report from the Royal Institution of Chartered Surveyors.

This comes as solid market conditions in the Middle East and Africa region continue to defy the broader global macro narrative, according to the firm’s Global Commercial Property Monitor.

The RICS report said that occupier and investor demand is reportedly rising across all sectors, with expectations for rental and capital value growth remain firmly positive, led by particularly upbeat feedback in Saudi Arabia, the UAE and Nigeria.

The report found that 81 percent of respondents based in Saudi Arabia believe that the market is in an upturn as the Kingdom is currently experiencing a boom within the real estate sector driven by infrastructure, housing and entertainment.

According to the report, the overall commercial property occupier demand growth was a touch down to 43 percent from the 60 percent posted in the third quarter. But it added that this figure matched the 43 percent posted in the fourth quarter of 2021, demonstrating a stable rate of strong growth over the past year.

“Like much of the MEA region, the firm trend is visible in all parts of the market in Saudi Arabia where the results for the office sector remain more positive than for the retail and industrial sectors,” said the RICS report.

Saudi Arabia’s office sector reported a reading of 59 percent, down a touch from the 64 percent reported in the third quarter, the report said. It added that retail and industrial still posted strong growth readings with 32 percent and 38 percent, respectively.

The RICS report showed that international investment demand has gathered impetus in each of the last three quarters, with all sectors seeing an uptick during this stretch. Leading the way, it said Saudi Arabia attracted strong growth in foreign buyer interest over the fourth quarter, posting a net balance of 49 percent.

Overall, the findings of the report pointed out that the Saudi Arabian commercial property market, much like its neighbor the UAE, has firm foundations for future growth, even if it becomes caught in the tailwinds of the global economic downturn.

The report further added that the UAE’s commercial property market also remains strong despite global challenges as around two-thirds of respondents feel the market is on the rise. It added that tenant demand growth in the UAE accelerated within all sectors of the market during the fourth quarter of 2022.

The outlook for the UAE’s commercial real estate market remains positive as 12-month capital value expectations continue to rise, said the RICS report, adding that foreign investment demonstrates growing confidence in the market with further growth.

Accor to run new tourist resort in Saudi Arabia Eastern Province

Updated 26 January 2023

Accor to run new tourist resort in Saudi Arabia Eastern Province

RIYADH: A new tourist resort is set for the Eastern Province of Saudi Arabia after the Tourism Development Fund signed a memorandum of understanding with two developers.

The agreement will see 440 hotel units, 41 villas, and various areas of restaurants, cafes, and recreational facilities over 262,000 sq. m. in Half Moon Beach, with the resort operated by French-based hospitality fim Accor.

The MoU was signed at the Municipal Investment Forum “Fora” by the head of the business sector at the Tourism Development Fund, Wahdan Al-Qadi, the General Manager of FTG Development DMCC, Hakan Kiskin, and the CEO of Ishraq Development and Development Company, Zaki bin Hassan Al-Omran.

Al-Omran said: “We were pleased today to sign this memorandum, which constitutes the company’s launch in supporting the tourism industry in the Kingdom and contributing to revitalizing tourism in the eastern region to make it a competitive tourist destination for regional and international coastal cities.

“The company is keen to achieve its development vision and strategy based on expanding tourism projects, upgrading methods of development and investment, and finding attractive tourism projects that contribute to providing a unique experience in tourism investment and formulating its concept according to the best international experiences, thus contributing to achieving the quality of life in the region.”

Also present was the Minister of Municipal and Rural Affairs and Housing, Majid bin Abdullah Al-Hogail, and the Mayor of the Eastern Region, Fahd bin Muhammad Al-Jubeir, and the CEO of the Tourism Development Fund, Qusai bin Abdullah Al-Fakhri.

Al-Fakhri said: “This memorandum is an extension of many other memorandums that were signed with the private sector within a system of joint complementary work with the aim of empowering the private sector by attracting local and foreign capital investments that contribute to supporting the tourism sector and enriching the targeted tourist destinations.”

The Tourism Development Fund works to support investment in accordance with the national strategy for the sector, with the Kingdom aiming for 100 million visitors per year by 2030.

Saudi Arabia ranked first among Arab nations for inbound visitors as more than 18 million travelers visited the Kingdom in the first nine months of 2022, according to the UN's World Tourism Organization data.

Saudi Arabia’s tourism spending reached $7.2 billion in the first half of last year, according to data recently released by Saudi Arabia’s Ministry of Investment.

First climate change readiness index launched for MENA region

Updated 26 January 2023

First climate change readiness index launched for MENA region

RIYADH: As almost every country in the Middle East and North Africa has reduced its per capital emissions from 2015 levels, EY has launched a climate change readiness index to supplement regional efforts to fight climate change.

EY, one of the world’s largest professional services networks, aims to help MENA region assess, evaluate and boost its efforts using the innovate tool.

It measures the readiness of the six Gulf Corporation Council members — Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the UAE — as well as Egypt and Jordan across various areas such as the efficiency of their adaptation and mitigation strategies as well as their ability to finance and implement these strategies.

The new index also offers scorecards to assist governments, investors, and citizens in tracking their performance relative to the global benchmarks on as much as 37 quantitative and qualitative indicators of global warming readiness.

“Climate change is a global challenge and addressing it requires collective action. The index is designed to be flexible, responsive, and personalized, allowing countries to monitor their progress over time and identify areas for improvement,” said EY MENA Climate Change and Sustainability Services Leader Yasir Ahmad, according to a statement.

It said that in terms of climate change adaptation and mitigation measures, the UAE outshone all the countries in the MENA region.

“The MENA region is already a global leader in carbon capture utilization and storage and planning for the future of circular economies. Together, with the leadership the region is taking in energy transition, the use of renewables, and development of hydrogen, MENA is on track to become a forerunner in the development of a low-carbon economy,” said EY-Parthenon MENA Leader Richard Paton.

Abu Dhabi’s ADX expects increased listings this year

Updated 26 January 2023

Abu Dhabi’s ADX expects increased listings this year

ABU DHABI: The Abu Dhabi stock exchange expects an increase in listings this year, even as global economies grapple with high inflation and rising interest rates, its chairman said.

"We have a healthy pipeline of IPOs and listings with aspirations to surpass 2022. There will always be challenges, but also opportunities," Hisham Khalid Malak, chairman of the Abu Dhabi Securities Exchange told Reuters on Wednesday.

The global picture is "starting to look better than expected, with a soft landing now forecast in the United States", he said, adding that "Europe is also starting to look better and China is opening up".

The Gulf's second-biggest market last year featured five initial public offerings and two dual listings, as well as listings for six exchange-traded funds and one blank-cheque company. It also had one listing on its secondary market, which connects investors with smaller privately owned businesses.

Abu Dhabi National Oil Co.'s gas business and Abu Dhabi-headquartered supermarket chain Lulu Group International are among those planning listings this year.

The Gulf region became a bright spot for public share sales last year, boosted by high oil prices and government-led privatization programs.

Gulf issuers raised about $16 billion from IPOs last year, accounting for about half of total IPO proceeds from Europe, the Middle East and Africa, Refinitiv data shows.

The ADX, with a market capitalization of about $714 billion, registered a 20 percent gain for its equities index last year, outperforming global markets.

"I don't think we can separate capital markets from the overall economic story for the region, which has benefited from higher oil prices," Malak said.

Multiple social and economic reforms have also improved the business environment and had a positive knock-on effect on the economy and markets, he added.

The ADX is working on expanding partnerships with other exchanges and increasing its institutional investor base, which swelled by 12 percent last year with participants from the top 25 global asset management firms.

A $1.4 billion IPO fund launched by the emirate to attract companies to list is also helping the exchange to grow, Malak said.

"We've seen opportunities in various sectors, including tech, and we're working with them and helping them structure their business to be ready for an IPO if they choose."

More than 24 theme parks now given licenses by Saudi Arabia's entertainment authority

Updated 18 min 4 sec ago

More than 24 theme parks now given licenses by Saudi Arabia's entertainment authority

RIYADH: Saudi Arabia’s General Entertainment Authority has now issued licenses for more than 24 theme parks and 421 entertainment centers, as the Kingdom steadily diversifies its economy in line with the goals outlined under Vision 2030.

GEA has also now provided 4,198 permits for entertainment events, along with 3,370 permits for live performances in restaurants and cafes, Saudi Press Agency reported, citing the total number issued up to the end of 2022.

The report further noted that GEA also approved licenses to more than 1,300 entertainment shows until the end of last year.

In the field of artistic and entertainment talent management, the authority has provided above 630 permits, the report added.

The government body also issued more than 360 crowd organizations and management certificates, besides providing over 700 licenses to operate entertainment facilities and 120 certificates for entertainment activities’ ticket sales.

The entertainment industry in Saudi Arabia has been witnessing a dramatic transformation over recent years, as GEA and the General Commission for Audiovisual Media are undertaking several initiatives to elevate the sector.

As a result of that several big players in the cinema exhibiting sector have already entered Saudi Arabia, thus opening up a new world of entertainment to spectators.

According to GCAM officials, the aim is to have 2,500 screens opened in the country over the next five years and 350 theaters which will create more than 30,000 jobs by 2030.

Earlier in January, it was reported that more than 10 million regional and international visitors attended Riyadh Season events since its launch on Oct. 21.

Staged under the title “Beyond Imagination,” the entertainment festival has offered at least 8,500 activity days and experiences in 15 diverse zones.

In a tweet, Turki Al-Sheikh, chairman of the GEA, said: “Imagination has become a reality with Riyadh Season — 10 million visitors so far.”

On Jan. 22, American pop-rock band Imagine Dragons kicked off their fourth world tour at Riyadh Boulevard, by singing “My Life” from their new album.

The band also performed “Bones,” which has already been streamed over 330 million times and hit the Billboard Hot 100.

The EY climate change readiness index measures the readiness of GCC members and Egypt and Jordan to address climate change, with the UAE leading the MENA region in energy transition and renewables development.

The index offers scorecards to track performance relative to global benchmarks, providing a tool for governments to evaluate their progress towards climate goals.

The World Economic Forum publishes the Energy Transition Index, which assesses 120 countries' performance in energy transition, with Jordan ranking 71 globally and fifth in the Arab world.

Title:

Content: Monday, 23 October 2023 07: 43 GMT
Jordan ’ s encouraging performance on the Energy Transition Index in a decade
(MENAFN- Alghad Newspaper)
The Strategy Forum has published a paper in the “Brief ” series entitled“ Jordan ’ s Encouraging Performance on the Energy Transition Index over the past decade ”, which aims to highlight the evolution of Jordan ’ s performance within the World Economic Forum ’ s “Energy Transition Index ” over the past 10 years.
The Forum pointed out that the index assesses the performance of 120 countries from different countries of the world, including Jordan, where the performance of countries is evaluated according to two main axes: “Energy System Performance ” and“ Transformation Readiness ”, under which many detailed indicators fall.
On the performance of Jordan on the index, Jordan ranked 71 globally and fifth in the Arab world, after witnessing a remarkable improvement in its overall performance during the past decade, despite its relative stability during the past few years.
In the paper, the Forum noted that Jordan ’ s performance in the key dimensions of the “energy transition ” index improved in most of these dimensions between 2014 and 2023, with the exception of“ innovation ” and “finance and investment ”.
The Forum also recommended the need to strengthen the efforts of the government in partnership with the private sector in the implementation of energy initiatives within the vision of economic modernization, in order to achieve the vision of the sector in achieving the security of energy supply in a sustainable manner and the optimal exploitation of natural resources.
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NEWSLETTER

The index evaluates countries' energy transition progress based on two main axes: Energy System Performance and Transformation Readiness.

The UAE sees energy transition as an economic growth opportunity and aims to leverage its position to drive down carbon intensity, with a goal of building a zero-carbon hydrogen market.

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

More news from Business

The Net Zero Strategic Initiative aims to create new industries and jobs, with Masdar targeting 100 gigawatts of renewable energy capacity.

The Arab region is expected to invest $879 billion in the energy sector over the next five years, with a focus on blue and green hydrogen, and plans to export low-carbon hydrogen to Europe and Southeast Asia.

Title:

Content: BasicEnvironment
US $9 BILLION ARAB ENERGY INVESTMENTS
The Arab Petroleum Investment Company (APICORP) expects total planned and committed investments in the energy sector in the region to exceed $879 billion over the next five years, an increase of $74 billion from last year ’ s investments of $805 billion.
According to the Middle East and North Africa Energy Investment Outlook for 2022-2026, the impact of the Russian-Ukrainian war on the region ’ s energy sector is mixed, with energy exporting countries leading the way in spending on renewable energy projects, benefiting from windfall gains in oil and gas revenues after the war led to a sharp rise in prices.
However, geopolitical volatility and unfavorable global conditions will not slow the growth of oil, gas and petrochemical investments in the region over the next five years.
Committed Projects
In the GCC, committed projects represent about 45 percent of total energy investment in the Arab region, 50 percent higher than the overall regional average of 30 percent for this category of projects.
For countries that import most of their energy needs in the Levant and North Africa regions, energy investments have declined, as these countries are more vulnerable to the geopolitical risks of war, exacerbated by economic pressures imposed by inflation and debt burdens.
Rami Ashmawy, senior energy specialist at Apicorp, said: “The latest report reveals that the region is on its own path to energy transformation, with the region taking the largest share of future global oil and gas investments to ensure global energy security and avoid the imminent risks of accelerated growth that pose a major threat to the global economy.
At the same time, the region continues to invest in clean and renewable energy and decarbonization technologies, as part of a long-term strategic vision to build a low-carbon future through a cleaner, more balanced and more sustainable energy mix. ”
Hydrogen
Apicorp forecasts that blue and green hydrogen will dominate emerging hydrogen markets across the region in the near term, as the fundamentals of hydrogen markets will lead to their expansion.
For the Middle East and North Africa (MENA) region – and the GCC countries in particular – the focus will be on exporting low-carbon hydrogen via ammonia shipments to demand centers in Europe and Southeast Asia.
Suhail Shatila, senior energy specialist at Apicorp, said: “Blue hydrogen has proven to be a more attractive option for the MENA region in the medium term, with a relatively low production cost and limited impact on existing business models of national and international oil companies.
This is a key measure in the energy transformation journey, given the important role of hydrocarbon producers in supporting decarbonisation efforts in oil and gas exploration and achieving net-zero emissions targets by mid-century. ”
Diversification of energy sources
Countries in the region are seeking to integrate renewables into their energy mix, in line with their shared goal of diversifying the mix of power generation with low cost and low carbon sources, to enhance the security of energy supply.
The report predicts that the Arab region will boost the total installed capacity of renewable energy sources by 5.6 gigawatts during the current year 2022, which is double the capacity that was put into operation in 2021, which amounted to 3 gigawatts.
By 2026, the region is expected to add 33 gigawatts of installed capacity from renewables, of which about 26 gigawatts are in the form of electricity and distributed solar photovoltaic panels.
Apicorp predicts that natural gas, the dominant fuel in power generation, will continue to grow and maintain 70 to 75 percent of the region ’ s power generation by 2024.
As a positive sign of sustainability, the use of oil-fired energy sources is expected to decline from 24 to 20 percent of total power generation by 2024.
In Saudi Arabia, the report points to an increase in electricity generation by gas over the next five years, and a decrease in oil generation during the same period, predicting that the share of electricity generation by oil in the energy mix will fall to less than 30 percent in 2022, compared to 32 percent in 2021.
In the UAE, the share of natural gas in the power generation mix is expected to fall from around 90 percent to less than 60 percent over the next five years as it seeks to diversify its energy supply through the use of nuclear and renewable energy.
Nuclear energy production levels in the Middle East and North Africa remain relatively modest, accounting for only 3 percent of the total energy mix in 2021.
Regulations, equities, capital markets and the private sector
With oil and gas companies facing tighter financing terms, ever-changing regulations, and striving to contribute to socio-economic development and affordable energy, governments are shouldering the bulk of hydrocarbon investments to ensure the security of energy supplies.
Sustainability bonds and green bonds issued in the Middle East and North Africa (MENA) region in 2021 more than tripled compared to 2020, reaching a total value of $18.64 billion.
2021 also saw the birth of the first voluntary carbon trading program in the MENA region, by the Saudi Stock Exchange (Tadawul), paving the way for the development of a formal market for trading and exchanging carbon insurance and compensation.
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The region's natural gas share in power generation is expected to maintain 70-75% by 2024, while oil-fired energy sources are expected to decline to 20% of total power generation by 2024.

The UAE aims to reduce its total water demand by 21% and increase wastewater reuse to 73%, with a goal of achieving net zero emissions in the water and energy sectors by 2050.

The Kingdom of Bahrain has national projects for Sustainable Development Goals, with Bapco Energies leading the energy transition in the country.

Title:

Content: MANAMA: The Middle East Sustainability Forum concluded its second session, which was held in the Kingdom of Bahrain on 8 and 9 January, in the presence of H.E. Dr. Mohammed bin Mubarak bin Dinh, Minister of Oil and Environment, Special Envoy for Climate Affairs, where it attracted more than 350 business and sustainability leaders.
On this occasion, HE Dr. Mohammed bin Mubarak bin Dinah, Minister of Oil and Environment, Special Envoy for Climate Affairs, affirmed the Kingdom of Bahrain ’ s continued implementation of national projects, programs and environmental initiatives in order to achieve the Sustainable Development Goals and meet the climate commitments signed by the Kingdom of Bahrain, in accordance with national strategic plans based on best practices and international standards.
The Minister of Oil and Environment praised the success achieved by the Middle East Sustainability Forum in its first edition, and the second edition included themes and topics that contribute to enhancing regional and international efforts and motivate participants to exchange experiences and sustainable ideas that facilitate and accelerate the goal of achieving carbon neutrality, green economy and sustainable development.
Mark Thomas, CEO of Bapco Energies, a strategic partner of the Forum and the integrated energy company that is leading the energy transition in the Kingdom of Bahrain, said that the Middle East Sustainability Forum is a regional platform to promote dialogue and cooperation and drive climate action towards a low-carbon future.
We are witnessing the beginning of a transformative era driven by green technology and innovation, encouraging systemic change that will last for decades, and our region ’ s commitment to achieving carbon neutrality goals, demonstrated by sovereign ambition, strong private and public sector engagement, adoption of modern technology, and mobility of human and financial capital, is a legacy aligned with global climate change goals.
Ms. Leela Danish, CEO of FinMark Communications, Founder and Organizer of the Forum, expressed her happiness at the success of the second edition of the Middle East Sustainability Forum, thanking all partners for their continued support and leadership of climate action, while expressing her gratitude to the elite experts and speakers who participated in the Forum again this year.
In 2024, we will be keen to host more events across the region, promoting high-level engagement, dialogue and skill-building for a low-carbon future.
Following a series of workshops held on the first day of the Middle East Sustainability Forum, the agenda for the second day included interactive panel discussions with more than 40 expert speakers from around the world, including speakers from the MENA region, Europe, the UK, the US, Australia, Brazil and India.
The sessions covered a range of topics critical to achieving carbon neutrality in the MENA region, including the necessary cooperation between governments and the private sector, COP 28 outcomes, impacts on climate action in the MENA region, finance and capital requirements, energy transition and renewable energy growth, future cities, resilient and sustainable supply chains, and regulations and legislation to facilitate enterprise projects across sectors.
# Government Data
- Done.

The Middle East Sustainability Forum promotes regional climate action, with private and public sectors engaging in climate action and adopting modern technology to drive systemic change.

The UAE has proposed its Energy Strategy 2050, which aims to develop a green economy and increase the use of renewable energy in the country.

Title:

Content: China 's orders surge' in the Middle East, hot money flows to more unicorns
Author: External Submission
Published: Updated:
The market and capital of the Middle East, the market and technology of China, are moving in both directions with enthusiasm.
The front foot of Saudi Arabia has just invested 40 billion in high-tech vehicles, and the rear foot of the United Arab Emirates has invested nearly 8 billion in NIO vehicles.
Why are the two oil giants looking at China's new energy?
Original text published in WeChat public account Ruicheng, Hong Kong 01 authorized to reprint.
Hot money from the Middle East is rushing to China for more unicorns.
Middle East out of money, domestic companies out of the project, what did they invest in?
At the same time, the heat of the Middle East market is also attracting attention.
Qatar Energy has promised to continue delivering liquefied natural gas to China for the next 27 years; China ’ s PV is heading out to the Middle East; and the North Gas Field, regarded as the world ’ s largest single gas field by Qatar, will receive a share in the next expansion project.
Chinese companies and the Middle East cooperation has been discussed one after another, what are the opportunities?
NIO Automotive showcases its automotive products in Wuhan in July 2022 (Getty)
01 Why did the new power of car building become a “hot spot ” for oil-producing countries?
On the evening of June 20, NIO announced that it has signed a share subscription agreement with CYVN Holdings, an Abu Dhabi investment institution. CYVN Holdings will make a total strategic investment of about US $1.1 billion (about 7.9 billion RMB) through the targeted issuance of new shares and the transfer of old shares.
What is CYVN Holdings?
It is a majority-owned investment institution by the Abu Dhabi government.
The Chairman of the Authority is the Minister of Finance of Abu Dhabi, and also serves as Vice Chairman of the Abu Dhabi Central Bank, Vice Chairman of the Sovereign Fund ADQ, and Director of the Sovereign Fund ADIA and the oil company ADNOC.
As we all know, Abu Dhabi is the largest of the seven emirates of the United Arab Emirates (UAE), accounting for 86% of the country's total area and 42% of the total population.
Therefore, CYVN Holdings' investment in NIO can be seen as a direct result of the UAE national team, which is an investment with a strong official color.
It means that the UAE believes in our electric vehicle enterprises in China and is optimistic about our development prospects in the field of new energy.
This is the second time in nearly half a month that Middle Eastern countries have extended an olive branch to Chinese new energy vehicle companies.
On June 11, the Saudi Ministry of Investment and China Express signed an agreement worth 21 billion Saudi riyals (about 40 billion RMB) to establish a joint venture in the development, manufacturing and sales of automobiles.
Saudi Arabia and the United Arab Emirates, two Middle East oil-producing countries, are clearly the biggest winners in the era of fuel vehicles, why invest a lot of money in new energy vehicles?
UAE: A flag of the United Arab Emirates flies in the wind on a boat at a Dubai pier on May 22, 2015. (Reuters)
There are two main reasons:
First, the resource curse crisis.
Oil reserves are capped, there is always a day to dig out.
Moreover, the current world energy landscape is also quietly changing, zero carbon background, countries are looking for cleaner solutions, shale gas, solar energy, hydrogen energy and many other energy technologies are continuing to develop.
This may further break the monopoly of the Middle Eastern countries in oil.
Therefore, it is only natural for the Middle East to consider economic restructuring in advance and avoid being abandoned by the times.
Today, most Middle Eastern countries, whether oil producers or non-oil producers, will develop a green economy, develop new energy and renewable energy as the basic strategy of national sustainable development.
For example, the UAE proposed its Energy Strategy 2050 as early as 2017.
In this context, new energy vehicles have naturally become a new investment hotspot and economic growth point for the Middle East market, especially Saudi Arabia and the United Arab Emirates.
Second, China has significant advantages in the field of new energy vehicles.
At present, China is the world's largest new energy vehicle market, whether it is technology, product or supply chain maturity, in the global context, have a prominent influence.
China has many new energy vehicle companies, global power battery leaders, intensive energy supply network, mature new energy vehicle industry chain, the competition has become white-hot intelligent cockpit and automatic driving technology... and these have also created China's new energy vehicles outstanding cost-performance ratio.
Therefore, whether it is investing in Chinese new energy vehicle companies, or introducing Chinese new energy vehicle brands, it is a valuable and potential option for investors in the Middle East.
02 Middle East Capital Flows to China ’ s Unicorn
The Middle East has capital, China has technology and market, such a scenario is not only in the new energy vehicle industry.
In other areas of China, money is pouring in from the Middle East as well.
At the just-held “China-Arab Entrepreneurs Summit ”, Hong Kong Stock Exchange CEO Au Guansheng said that by 2030, the investment capital of the Middle East sovereign fund is expected to increase to 10 trillion US dollars, by which time, more than 10-20%, or 1-2 trillion US dollars of investment, will be invested in China.
Chinese venture capital firms are receiving money from the Middle East.
What kind of investment and opportunities in China do Middle East investors prefer?
Among the top 10 sovereign wealth funds in the world, the Middle East countries occupy four seats.
According to research by alternative asset research organization Preqin, as of 2022, the total asset management scale of sovereign wealth funds in the Middle East reached 3.64 trillion US dollars, accounting for one-third of the total global sovereign wealth funds.
From the public data, it can be seen that since the beginning of 2023, capital from the Middle East is flowing into China, with special attention to cutting-edge technology, biopharmaceuticals, new consumer trends and other areas.
For example, the Public Investment Fund (PIF) of Saudi Arabia, the largest country in the Middle East, submitted a QFII (Qualified Foreign Investor) application to the China Securities and Futures Commission at the end of 2021, and by February 2022, its Hong Kong office had opened.
Previously, PIF has been investing frequently in China.
According to incomplete statistics of the Sovereign Wealth Fund “Saudi Model ”: Globalization and Localization of PIF, published by Gao Hao, director of the Global Family Enterprise Research Center of the School of Wudaokou Finance of Tsinghua University, PIF ’ s total overseas equity investment in 2017-2021 was about US $60.8 billion, of which the total investment in China was about US $12.2 billion, accounting for 20%.
In terms of industry distribution, there are 13 equity investments in China (including additional investment), 4 investments in online education (3 assignments, 1 head to 1), 4 investments in the Internet (1 Little Red Book, 1 word of mouth, 2 road trips), 2 investments in software services (Keep 1, 1 truck), and 1 investment in commercial real estate (WeWork). One pen goes to medical and health care (Ping An Good Doctor) and one pen goes to retail (melon seeds used car).
More recently, there has been a larger flow of money between the Middle East and China.
According to media reports, on the first day of the China-Argentina Entrepreneurs Summit, investment agreements worth 10 billion US dollars (about 71.6 billion yuan) were signed, covering more than 30 industries, including technology, renewable energy, agriculture, real estate, minerals, supply chain, tourism and healthcare.
Outside of the summit, investments continue to take place, such as in late May, when Saudi Aramid-backed venture capital firm Prosperity7 announced that it was investing “tens of millions of yuan ” in Shanghai-based driver-assistance technology startup Hyperview.
In addition to Saudi Arabia, the UAE is also investing heavily in China.
In May this year, the UAE hosted a conference specifically for Chinese entrepreneurs.
According to the country ’ s state media, the country hosted China ’ s “top 50 unicorns ” (startups valued at more than $1 billion) and launched a“ secret Arab-Chinese unicorns investment conference. ”
This is a win-win cooperation.
Over the past few years, governments across the Middle East have announced plans to invest heavily in reshaping their economies to achieve sustainable growth in the future.
Being deeply involved in the transformation of the Middle East is an opportunity that all countries want to fight for, and Chinese companies with valuable infrastructure and manufacturing technologies are naturally among them.
For the Middle East countries, China has technology and a market, and cooperation with China is also one of the key driving forces for the successful transformation of the Middle East countries.
A clear trend is that, based on the strategic planning of the Middle East countries themselves, there is more and more investment in China to meet the needs of the industry.
Many Middle East LPs want to drive local industry development through investment and economic transformation.
Industrial investment has become a "two-way drive" between China and the Middle East.
Xi Jinping and Saudi Crown Prince and Prime Minister Mohammed meet in Riyadh, Saudi capital, in December 2022 (Reuters)
03 Outbound Middle East Heat
At the same time that the capital of the Middle East looks to the "East", the Middle East has become a popular area for Chinese companies to go overseas.
For example, when Europe and the United States began another round of strikes on Chinese PV, Chinese PV companies set their eyes on the Middle East market, which is opening its enthusiastic arms to us.
According to InfoLink data, in 2022, the Middle East imported 11.4 GW of PV modules from China, an increase of 78% compared to 2021.
In the past, the import of components in the Middle East market was mainly Pakistan and Israel, while in 2022, the United Arab Emirates and Saudi Arabia saw significant growth.
Saudi Arabia ’ s imports from China increased tenfold in 2022 compared to 2021, while the UAE grew by 340% year-on-year in 2022, making it the largest component customer in the Middle East.
Moreover, it is not only the supply of components, Chinese photovoltaic companies have been on the move, directly to the Middle East, to strive for the development of photovoltaic solar independent power generation projects in the Middle East.
As mentioned above, on June 11, the first day of the China-Argentina Entrepreneurs Summit, the two countries signed an investment agreement worth $10 billion, which covers the renewable energy sector.
This is a great market opportunity for Chinese photovoltaic companies.
According to the Middle East Photovoltaic Industry Association (MESIA), the low-carbon energy industry in the Middle East and North Africa region will be worth $257 billion by 2030.
Among them, PV accounts for 50% of the project value, which means that the Middle East PV market is nearly trillion.
Opportunities in the Middle East market are not only in the photovoltaic sector, in the case of Saudi Arabia, there are also other rich opportunities in a number of technology sectors, including energy technology.
Examples include new digital infrastructure such as data centers, supply chain solutions for consumer goods, and fintech.
Of course, the rich Middle East is a hot land and a jungle, with countless opportunities and brutal competition.
For example, in addition to establishing cooperative relationships with local companies, enterprises must also build their own teams in the local area, such as the maintenance of relations with the government.
In short, do the brand well or do the local scarce supply chain, but either way, it takes time to accumulate.
Going to the Middle East also requires long-termism.

Iraq has set a target of 12 gigawatts of renewable energy by 2030, and has a $680 million fund supporting clean energy development.

Title:

Content: BAGHDAD/PRNewswire/ -- In a strategic move toward harnessing the untapped potential of Iraq's solar landscape, Sungrow is taking the lead in shaping the nation's green energy sector.

Iraq's Minister of Oil, Ihsan Abdul Jabbar, stressed the importance for Arab countries to prioritize high-efficiency, low-cost energy production to foster a modern economy. The country has set a target to install 12 gigawatts of renewable energy, accounting for 33% of the country's electricity by 2030.
Spearheading this initiative, Lei Wu, the Acting Chief Operating Officer of Sungrow MENA region, emphasized the significance of bringing cutting-edge technology to tackle Iraq's longstanding electricity shortage, ultimately enhancing the availability of reliable and high-quality electricity for its residents.

Urgent energy transition needs calls for international cooperation
Iraq faces a substantial electricity shortage, with nearly one-third of its supply coming from imports, including natural gas, according to Reuters.
With 8 to 10 hours of daily sunshine and an annual average of 3,000 to 3,650 hours, the region is poised for large-scale PV deployment.
Wu outlines three key avenues for PV expansion in Iraq: utility-scale power plants, commercial and industrial (C&I) installations, and residential solutions.

Iraq's $680 million fund for clean energy development supports these efforts, demonstrating the government's ambition to build a green economy and foster international cooperation aiming for this goal.

Fragile grid demands innovative solutions
As the demand for solar power grows in Iraq, Iraq emerges as a burgeoning solar market. However, the underdeveloped power grid in Iraq presents challenges that demand higher standards for both products and technologies. Solar projects operating under Iraq's weak grid, whether serving as backup power sources during outages or directly connecting to the grid, have the potential to affect the overall stability of the grid, worsening an already precarious situation.

Lei Wu emphasizes, "Tailoring our products and solutions to diverse requirements is crucial. For example, when a project requires connection to a weak grid, our focus is on providing robust grid support. This involves a seamless integration of PV and energy storage to enhance the stability and optimize consumption ratios. Alternatively, in off-grid scenarios or as a backup power source, our goal is to ensure seamless collaboration between PV and energy storage for maximum efficiency."

A weak grid signifies a low Short Circuit Ratio (SCR), making it vulnerable to grid failure or disconnection issues. Currently, the minimum SCR required by the grid is 1.5, and the lower the SCR value inverters are compatible with, the more robust the grid supports after connection.

Notably, Sungrow, leveraging its technological prowess, has developed a "1+X" modular inverter and SG350HX string inverter, passing SCR tests at 1.018 and 1.1, respectively. In terms of energy storage, Sungrow employs Stem Cell Grid technology, achieving 0ms grid connection and disconnection switching. This ongoing exploration of boundaries serves to comprehensively enhance grid support capabilities.

"We have extensive experience in the MENA region. Previously, we participated in the construction of an 800 MW solar project for the Qatar World Cup. At that time, the integration of large-scale green energy into the Qatar power grid served as a test, and with the backing of advanced Chinese technology, the project proceeded smoothly. This success has bolstered our confidence in venturing into the Iraqi market", said Wu.

Provide localized services
"Venturing into international markets" is intrinsic to Chinese PV enterprises, yet breaking new ground is far from straightforward. Operating abroad not only scrutinizes technology and products, but also the effectiveness of local sales networks, post-sales teams, and service response capabilities. For seasoned players like Sungrow, however, this challenge is effortlessly managed.

Since its establishment in 1997, Sungrow has been dedicated to renewable energy power generation. Whether considering product quality, scale, or market coverage, the company stands as a global industry leader. Up to now, in addition to its traditional strength in solar inverters, Sungrow has diversified its business portfolio to include energy storage systems, renewable energy hydrogen production systems, smart operation and maintenance, EV-charging, investment and development in renewable energy power plants, and new energy automotive driving systems, etc. Wu told the reporter, "Every enterprise may face challenges of not fitting the local conditions while exploring new markets. To overcome this, concerted efforts are necessary. Firstly, we must understand the local business environment and social culture, do thorough groundwork in advance, and avoid potential risk factors."

"Secondly, we need a strong sales and service network for timely customer response. Currently, our business reaches 150+ countries and regions, committed to addressing overseas customer needs within 48 hours.

Sungrow follows a global development strategy, with branches and sales networks in the MENA region for localized services. This enhances cooperation with local customers, aiding in expanding the Iraqi market," he added.

Wu further emphasized that, "Exploring new markets is about establishing roots. The deeper the roots, the more abundant the growth."

In the first nine months of this year, Sungrow marked a revenue of RMB 46.415 billion, surpassing the annual revenue of RMB 40.257 billion in 2022, setting a new record. As per consulting firm S&P Global Commodity Insights, Sungrow has maintained its global lead by shipping 77 GW of PV inverters in 2022. Additionally, its delivery of energy storage systems exceeded 7.7 GWh in the same year.

SOURCE Sungrow Power Supply Co., Ltd.

CONTACT: Bertha Wang, wangxiaoyu@sungrowpower.com

The country has 8 to 10 hours of daily sunshine for PV deployment, making it an ideal location for solar power.

Egypt is developing transmission and distribution networks into smart networks, and has added over 30 gigawatts to its generation capacity.

Title:

Content: Chairman of the Board of Directors and Editors
I'm sorry.
Mohamad Elbaz
Chairman of the Board of Directors and Editors
I'm sorry.
Mohamad Elbaz
Electricity: We are working to improve and develop the transmission and distribution networks and convert them into smart networks
On behalf of Dr. Mohamed Shaker, Minister of Electricity and Renewable Energy, Dr. Khaled Mohamed El Dastawy, Vice President of the Egyptian Electricity Holding Company for Distribution Companies, delivered an opening speech at the Egypt Conference on Cybersecurity and Information Intelligence Systems (CDIS-Egypt2023).
He expressed his happiness with the participation of the attendees in the opening of the conference and exhibition, which highlights the current situation and the future of cybersecurity in Egypt, the Middle East and North Africa and all over the world.
This is in light of the Egyptian state ’ s interest in the file of cybersecurity as an important defense force within Egypt ’ s digital strategy to secure and protect the privacy of personal data and face cyber risks.
Dr. Ahmed Al-Dastawi highlighted the efforts of the Ministry of Electricity and Renewable Energy.
Despite the great challenges faced by Egypt in providing energy to the local market during an earlier stage, the Egyptian state was able, as before, to transform the challenges and difficulties into opportunities and gains on the ground.
One of the most important fruits of the work of the electricity and renewable energy sector over the past few years has been the complete elimination of the crisis of frequent power outages and the achievement of a safe reserve of electricity.
More than 30 gigawatts have been added, making the available generation capacity sufficient to meet the requirements of investors across the country.
The electricity and renewable energy sector is currently working on improving and developing the transmission and distribution networks, and turning them into smart networks to enhance and strengthen the national electrical grid in order to absorb the new capabilities added from renewable energy and maintain the stability of the unified electrical grid.
Many projects are being implemented in line with Egypt ’ s Vision 2030, for example:
First: Establishing and developing the controls of distribution companies:
The Ministry of Electricity and Renewable Energy is currently developing networks in distribution companies in order to raise the level of performance and improve the quality of electricity supply. A plan has been developed to establish and develop 47 control centers in electricity distribution networks over five years.
Second: Projects (Smart Meters – Prepaid Meters equipped with a means of communication):
The pilot project for the installation of smart meters and the establishment of data centers and their communication methods has been completed in the scope of 6 distribution companies, in addition to the installation of about one million smart meters in the energy efficiency improvement project in cooperation with the Japan International Cooperation Agency (JICA) within the electricity sector plan to provide electricity for all uses with a high quality and raise the level of services provided to citizens.
A tender was also launched for the installation of smart meters in dispensers, kiosks, transformers and major subscribers with about 530,000 smart meters within the second phase of the implementation of the smart meters project.
Cooperation is also underway with the Ministry of Communications and Information Technology and the Unified National Network for Emergency Services and Advanced Public Safety in the work of security tests related to the Internet of Things to obtain certificates based on the latest international specifications.
The development of prepaid meter systems equipped with a means of communication and secure them with the latest insurance systems through the work of a unified specification with the latest design and means of communication and the work of unified systems for shipping and billing in cooperation with specialized national companies.
Third: The project of developing the villages of the Egyptian countryside (a decent life)
The presidential initiative is designed to ease the burden of citizens in the most needy communities in the Egyptian countryside, and depends on the implementation of a range of service and development activities that will ensure a decent life for this group and improve their living conditions and bridge the development gaps between the centers and villages and their dependencies.
Fourth: Coding the tasks of the network for electricity distribution companies
The electricity sector is currently undertaking a project to inventory and codify all network tasks on medium and low voltage, which helps in:
· Better management of corporate assets
Digitize and record all tasks within databases
· Upload the coordinates of the missions and link them to the GIS database
Contact is being made with the Ministry of Communications and Information Technology to help develop this system and provide the necessary licenses to operate.
Fifth: Unification of databases:
The Ministry of Electricity and Renewable Energy, in cooperation with the Administrative Control Authority and the Ministry of Communications and Information Technology, implemented a project to unify the databases of electricity subscribers and the spatial connection of subscribers on maps of regions and diaries to be part of the digital transformation system of the country.
Sixth: Developing the services provided to citizens and service centers:
Multiple channels such as service centers, hotline, unified platform for smart electricity services, electronic applications have been made available to provide high quality services in accordance with international specifications and standards:
• More than one national consulting office has been used to develop the service centers and services provided and establish comprehensive quality standards and continuous improvement. A standard standard has been prepared for customer service centers to develop comprehensively the technological, human and civil aspects with a unified visual identity.
• The unified platform for smart electricity services was launched through the Internet, where 25 services were made available through which citizens can apply for the service and follow up the status of the application at all stages. The number of applications submitted on the unified platform reached 3.6 million applications since its launch at the end of 2020.
• Five services were made available on Misr Digital Platform and 11 other services are being made available on Misr Digital Platform by the end of July 2023 in cooperation with the Ministry of Communications and Information Technology.
• Also, communication channels have been made available throughout the Republic (mobile service vehicles) to be equipped with all technological means and through which electricity services are provided to all citizens in remote and remote areas.
• Launching new applications for complaints and power failures for quick and easy submission of complaints or reports of power outages:
• The application of electricity emergency to provide reports of power outages easily and quickly and is being linked with the central emergency system to the unified national network of emergency services and advanced public safety.
• Applications of technological accessibility for persons with disabilities on Android phones in cooperation with the Ministry of Communications and Information Technology.
All these services are intended to enable citizens through ICT to benefit from the services provided by the electricity and renewable energy sector to achieve the satisfaction of all customers of the sector while maintaining the confidentiality of information and data circulating on them.
As part of the government ’ s efforts to implement its plan on the digital transformation of the ministries and facilities of the state in general and the development and modernization of the public in each party in particular.
As this digital transformation requires the flow of information, which requires maintaining the security of data and information, where cyber security is an integral part of the economic system and the national security of the state, which made the electricity sector race in the development of its own infrastructure in the transition to smart networks.
In the interest of the Ministry of Electricity in facing cyber risks and enhancing confidence in its infrastructure, entities and subsidiaries in all operations of securing the production, transmission and distribution of electricity, the Ministry has taken several measures, including:
Establish a cyber security operations center to predict risks, formulate regulatory frameworks to protect data and digital assets, issue early warnings about the spread of any malware or attacks, provide digital criminal investigation services, raise awareness programs, and update protection devices that make electricity sector employees able to respond to cyber attacks.
· Preparations are underway to establish a special laboratory for cyber security tests for smart meters at the Egyptian Electricity Holding Company, affiliated to the Ministry of Electricity and Renewable Energy, within the framework of fruitful and constructive cooperation with the Ministry of Communications and Information Technology.
Developing prepaid meters by providing them with a means of communication and securing them with the latest insurance systems in cooperation with specialized national companies.
· Create a unified system to secure shipping and billing.
A number of national initiatives have been implemented in cooperation with the National Computer Emergency Preparedness Center as well as specialized national companies to protect critical infrastructure, including the following:
• Detect cyber vulnerabilities by checking their email addresses periodically.
• Protection against denial-of-service attacks and web application attacks.
• Countering cyber attacks with wireless systems as well as the Internet of Things.
• Building a strong wall against the attempts of continuous violations, and the electricity and renewable energy sector contributed to the development of (5) operation rooms belonging to the companies (Canal – Upper Egypt) to distribute electricity and equip them with modern communication devices and equipment for the unified national network of emergency services and public safety developed in the governorates of (Ismailia – Suez – Port Said – South Sinai – Luxor). This is in cooperation with the Unified National Network for Emergency Services and Advanced Public Safety.

The country has eliminated frequent power outages and achieved a safe reserve of electricity, and is implementing smart meter projects with over one million meters installed.

Iraq and Jordan are linking their power grids to ensure a stable energy supply, with Jordan contributing $30 million to Phase 1 funding.

Title:

Content: Iraq and neighboring Jordan are planning to launch the first phase of a project to link their power grids in August while pursuing plans for two other phases, Jordan’s Energy and Mineral Resources Minister was quoted on Monday as saying.

Saleh Al-Kharabsheh said the two countries have almost completed Phase 1 at a cost of around $130 million and that Iraq would be ready to receive power supplies in summer.

“Phase 1 of ….the project to link Jordan’s power network with that of Iraq will be ready in August and we will be able to start supplying power  to that country,” Kharabsheh said, quoted by the official Jordanian news agency.

According to an Iraqi official, Jordan contributed $30 million to the funding of Phase 1 while Iraq agreed to pay nearly $100 million.

The Iraqi Shafaq News agency quoted Ahmed Mousa, a spokesman for Iraq's Electricity Ministry, as saying on Sunday that Phase 1 includes supplies of 150 MW to Iraq while Phases 2 and 3 includes 500 MW and 900 MW respectively.

(Writing by nadim Kawach; Editing by Anoop Menon)

(anoop.menon@lseg.com)

The project will supply 150 MW to Iraq in the first phase, and is expected to be launched in August.

The Middle East is expected to play a key role in enhancing global energy security as the region shifts away from reliance on fossil fuels and towards renewable energy sources.

Title:

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

Title:

Content: Chairman of the Board of Directors and Editors
Mohamad Elbaz
Chairman of the Board of Directors and Editors
Mohamad Elbaz
The Impact of New Petroleum Discoveries on the Development of Egyptian Society and Economy
For Egypt, which enjoys a strategic geographical location and abundant natural resources, each new oil discovery is not only a geological success but also an opportunity to improve the lives of the simple citizen and strengthen the national economy.
New Petroleum Discoveries
The new petroleum discoveries in Egypt are an important turning point that brings with it many opportunities to improve the lives of the simple citizen and boost the national economy. These discoveries not only benefit the government and specialized companies, but their positive effects extend to all segments of society in multiple ways.
The Impact of Petroleum Discoveries on the Egyptian Economy and Citizens
- Increasing national income through the exploitation of these resources means the possibility of providing more social services and programs in the interest of the individual, in addition to additional revenues from the export of oil and gas, improving the general budget of the state and providing resources for development.
Improving the trade balance and reducing dependence on imports enhances the strength of the local currency and maintains price stability, which contributes to the improvement of the standard of living, and the energy security provided by these discoveries helps to secure the country ’ s energy needs at affordable prices.
The expected economic growth from energy investments is a critical factor in providing financial support for education and health initiatives, which in turn raise the quality of life for citizens.
- Creating jobs and new jobs in the exploration, production and logistics sectors, as well as skills development and specialized training.
Infrastructure development that includes investments in roads, bridges, and transport networks, as well as improvement of public services and utilities.
- Stimulate economic growth, by attracting foreign investment in the energy sector and related industries, and promoting small and medium industries through supply chains.
- Enhancing energy security, which will ensure the stability of energy supplies and reduce the negative effects of fluctuations in global oil prices.
Financing social programs, using part of the revenues to support health, education, and social services, improving the standard of living and general welfare.

However, the transition to renewable energy is expected to create new jobs in the Middle East, with the renewable energy sector employing over 11 million people globally.

Title:

Content: Ling Announces Comprehensive Insights on the Role of Renewable Energy in Combating Climate Change

Ling Announces Comprehensive Insights on the Role of Renewable Energy in Combating Climate Change.

Climate change is one of the most pressing challenges of our time, driven primarily by the burning of fossil fuels which releases greenhouse gases into the atmosphere. As global temperatures rise, the impacts on weather patterns, sea levels, and ecosystems become increasingly severe. One of the most promising solutions to mitigate these effects is adopting renewable energy sources. Renewable energy not only reduces greenhouse gas emissions but also promotes sustainable development. This article explores the critical role of renewable energy in combating climate change.

Renewable energy, derived from natural sources such as sunlight, wind, rain, tides, and geothermal heat, is sustainable and replenishable. Unlike fossil fuels, renewable energy sources do not emit significant amounts of greenhouse gases, making them a cleaner alternative for power generation. As the world seeks to address the impacts of climate change, transitioning to renewable energy is a key strategy. This transition involves significant changes in how energy is produced, consumed, and managed, with the potential to transform economies and societies.

Reducing Greenhouse Gas Emissions

"One of the primary benefits of renewable energy is its potential to reduce greenhouse gas emissions significantly. Fossil fuel combustion for electricity and heat production is a major source of carbon dioxide (CO2) emissions. In contrast, renewable energy technologies, such as solar panels and wind turbines, produce electricity without burning fossil fuels, thus emitting little to no CO2. For instance, every megawatt-hour (MWh) of electricity generated by wind power prevents the emission of approximately 0.6 to 1.2 metric tons of CO2 that coal-fired power plants would have produced. By replacing fossil fuels with renewable sources, we can dramatically lower the concentration of CO2 in the atmosphere, mitigating the greenhouse effect and global warming" says, Lisa Ockinga, Chief Product Officer at Ling

Enhancing Energy Security and Sustainability

Renewable energy enhances energy security by diversifying the energy supply and reducing dependence on imported fuels. Many countries rely heavily on imported oil, natural gas, and coal, making them vulnerable to geopolitical tensions, price volatility, and supply disruptions. By harnessing domestic renewable resources, countries can secure a stable and sustainable energy supply. For example, solar energy can be harnessed in regions with high solar irradiance, and wind energy can be captured in areas with strong and consistent winds. This localized production reduces the need for long-distance energy transportation and the associated environmental impacts, such as oil spills and pipeline leaks.

Promoting Economic Growth and Job Creation

The renewable energy sector is a significant driver of economic growth and job creation. The transition to renewable energy involves the development and deployment of new technologies, which can stimulate investment, innovation, and employment. According to the International Renewable Energy Agency (IRENA), the renewable energy sector employed over 11 million people globally in 2018, with the potential to create millions more jobs as the industry expands. Jobs in renewable energy range from manufacturing and installation to maintenance and research and development. Moreover, renewable energy projects can spur economic development in rural and underdeveloped areas by providing new infrastructure, services, and opportunities.

Conclusion

The role of renewable energy in combating climate change cannot be overstated. By reducing greenhouse gas emissions, enhancing energy security, and promoting economic growth, renewable energy provides a comprehensive solution to the climate crisis. The transition to a renewable energy future requires concerted efforts from governments, businesses, and individuals to invest in and support sustainable energy technologies. As we move towards a low-carbon economy, the widespread adoption of renewable energy will be crucial in achieving climate goals and ensuring a sustainable and resilient future for generations to come. In summary, renewable energy is a key component in the global strategy to combat climate change. Its benefits extend beyond environmental protection, offering economic and social advantages that contribute to a more sustainable and equitable world. Embracing renewable energy is not only an environmental imperative but also an opportunity to build a better, more sustainable future.

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Organization: Start Link How
Website: https://ling-app.com/

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The region has abundant solar and wind resources, making it an ideal location for renewable energy production, with countries like Saudi Arabia and the UAE investing heavily in solar and wind power.

Title:

Content: Middle East Climate Week looks at renewable energy transition and carbon reduction
During a panel discussion focused on the Kingdom ’ s high energy and efficiency records
The “Middle East and North Africa Climate Week 2023 ”, hosted by the Kingdom of Saudi Arabia, in coordination and cooperation with the United Nations Framework Convention on Climate Change (UNFCCC) Secretariat, discussed on the third day the transition of renewable energy and the reduction of carbon emissions.
The panel discussion, entitled “Accelerating the Transition of Renewable Energy and Reducing Carbon Emissions ”, tackled carbon emissions mitigation and climate change, and the programs and initiatives adopted by the Kingdom to address climate change.
The speakers – Senior Sustainability Advisor to the Minister of Energy, Chief Negotiator of the Kingdom ’ s Climate Agreements, Dr. Khalid Al Meheid, Undersecretary of the Ministry of Energy for Electricity Nasser Al Qahtani, SPPC CEO Mazen Al Bahkali, ACWA Power ’ s Vice Chairman and Managing Director Raad Al Saadi, and Saudi Energy Efficiency Center General Manager Nasser Al Ghamdi – discussed the objectives of the Kingdom ’ s energy programs, priorities, needs, resources and funding sources. and current solutions.
They addressed the Kingdom ’ s high energy and efficiency records, touching on hydrogen from manufacturing to strengthening regional and international supply chains, pointing to the vast areas that enable solar and wind energy projects and clean energy exports with international connectivity.
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Egypt has invested $84 billion in renewable energy deals, aiming to export clean energy to the world, and has signed framework agreements worth $84 billion for green hydrogen production.

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 transition to renewable energy is expected to stimulate economic growth and job creation, with the hydrogen sector expected to attract $11.7 trillion in investment by 2050.

Title:

Content: Atef Abdullah (Abu Dhabi)
Global interest in green hydrogen as the fuel of the future and the “optimal ” source of clean energy has recently increased at the level of governments and companies, in a hybrid phase of energy fuel compatible with new environmental regulations and laws that also include oil and gas (carbon free) and hydroelectric.
A host of factors have spurred investment in green hydrogen, including pledges by major industrialized nations to cut emissions to zero by 2050 under the Paris Agreement on climate change.
To achieve these goals, countries need to produce massive amounts of solar, wind, and hydro to meet industry, transportation, and electricity sectors, while hydrogen provides flexible solutions to store, send, and charge energy when needed.
Hydrogen is also the most abundant element in the universe, and is produced, the green type of it, through the electrolysis of water, where this method uses an electric current to separate hydrogen from oxygen in the water, and feed electricity from renewable sources (wind and sun), while oxygen, the second component of water, is produced and released into the air, where it is a positive factor for the atmosphere.
Hydrogen economy
According to a report by Goldman Sachs, hydrogen is expected to meet about a quarter of the world ’ s energy needs by 2050, and the sector is expected to attract an estimated $11.7 trillion in investment, a forecast that is in line with a previous Bank of America study that projected an injection of $11 trillion over the period 2020-2050.
Hydrogen is likely to generate $2.5 trillion in direct revenue and $11 trillion in associated infrastructure by 2050, especially with production expected to double sixfold.
Role of the region
Although the Arab world holds about 57% of the world ’ s crude oil reserves and 26% of the world ’ s natural gas reserves, according to the statistics of the Organization of Arab Petroleum Exporting Countries (OAPEC), it also has several elements that can make it a major player in the field of renewable energy due to the large area of   the desert and sunshine most of the year.
According to a study by the Friedrich-Ebert-Stiftung (FES), the Middle East and North Africa (MENA) region is blessed with abundant wind and wind energy, which is essential for the production of low-cost green hydrogen, which in turn supports local industries, the economic and social development of the region and the creation of more new jobs.
The study stressed that the Middle East region has the potential to become a center for green hydrogen production, both for its regional and global markets, as the opportunities that exist will outweigh all challenges.
The region is home to major energy players led by ADNOC, Mubadala, Masdar, Abu Dhabi Holding, Dubai Electricity, ACWA Power and NEOM, who can accelerate the transition to a low-carbon economy in the Arab world with their physical capabilities, qualified technical staff and global expertise.
In addition to international initiatives, there are regional initiatives focused on the development of the sector such as the Middle East and North Africa Hydrogen Alliance (Dii Desert Energy), which implements initiatives aimed at the prosperity of the green hydrogen sector and sustainability by creating a strong market with local jobs and industries linked to the transformation of the energy sector.
Cost of production
At present, producing green hydrogen costs three times the cost of producing natural gas, and producing it is more expensive than gray hydrogen naturally because of the electrolysis process required to manufacture it.
But according to a recent report by the International Renewable Energy Agency (IRENA), hydrogen produced with electricity generated from renewable sources could rival conventional energy sources in terms of production costs from 2030 onwards.
This is due to the continuous decline of a range of costs such as solar and wind power production, as well as the improvement of operational and production performance in general, as well as the expansion of the production of electrolysis devices, which is reflected positively over time in reducing their costs by 40% in the short term and up to 80% in the long term.
According to the Bernstein Investment Group ’ s projections, the cost of producing green hydrogen could fall below $2 per kilogram by 2030, versus $1 per gallon of gasoline.
Fuel cell costs are likely to drop 80 percent over the same period, to $30 per kilowatt, as the hydrogen industry grows.
By the mid-2000s, hydrogen fuel-cell heavy cargo vehicles may be more competitive than diesel trucks, and by 2030 fuel-cell vehicles could compete with electric vehicles in terms of total cost.

The Middle East and North Africa region has the potential to generate 60% of its electricity from renewables by 2030, reducing greenhouse gas emissions and environmental problems.

Title:

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

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

Fossil Fuels: A Double-Edged Sword

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

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

The Countdown to Depletion

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

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

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

Toward a Sustainable Energy Paradigm

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

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

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

The Promise of Sustainable Energy

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

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

The MENA Region: The abundance of wisdom

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

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

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

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

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

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

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

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

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

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

Renewable energy development can create new income sources for countries, promote economic sustainability, and enhance energy security, with Jordan achieving 31% renewable energy by 2023, exceeding its 2030 target.

Title:

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

The UAE aims to increase its clean energy share to 50% by 2050, and has launched initiatives like the Net Zero Strategic Initiative, focusing on new industries and jobs.

The region's energy transition is also expected to have social impacts, including improving livelihoods in rural Arab areas, achieving social integration and gender equality, and addressing climate change effects.

Title:

Content: Tuesday 23-11-2021
Experts Discuss the Role of Renewable Energy in Entrepreneurship Development
Experts from the Ministries of Energy and Agriculture discussed at a forum organized by the United Nations Economic and Social Commission for Western Asia (ESCWA) in cooperation with the Ministry of Energy on Tuesday the mechanisms of using small capacity renewable energy technology for entrepreneurship development to mainstream gender in productive sectors within rural areas.
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In a speech on behalf of Minister of Energy and Mineral Resources Saleh Al-Kharabsheh, Director of Electricity and Rural Electrification, Ziad Al-Saida, said that the regional initiative to promote the use of small-scale renewable energy systems in rural areas in the Arab region aims to improve livelihoods, achieve economic benefits for beneficiaries and support the energy strategies adopted by the Government of the Hashemite Kingdom of Jordan.
He stressed the importance of the project in providing support to rural women through small capacity solar projects that support women in their remote locations and enable them to perform their projects and achieve impressive success stories through achieving integration in various sectors, especially with regard to food and water, and ways to face the negative effects of climate change.
He also stressed the importance of the project in achieving social integration and gender equality in Arab rural communities, especially marginalized groups, by addressing the problem of energy poverty, water scarcity, climate change and other natural resource challenges, pointing out that these objectives will be achieved through the use of small capacity renewable energy technologies suitable for productive activities and the development of private enterprises in rural areas.
Al-Saida presented the most important projects that have been completed in the Kingdom in this field, including the design, supply, installation, operation and maintenance of 12 solar energy systems connected with the electrical grid with a total capacity of 72 kW and the design, supply, installation, operation and maintenance of two water heating systems by solar heaters for two buildings.
These projects also include the design, supply, installation, operation and maintenance of two drip irrigation systems, one of which will be integrated with the 22 kW solar power system and the other with the 10 kW solar power system.
The list of projects also includes the renovation of electrical works (wires and panels) and the replacement of lighting units with LED units in a number of areas.
For her part, the head of the energy sector at (ESCWA), Radhia Sadawi, said that the initiative included a number of projects that benefited 850 people, including the design, supply, installation, operation and maintenance of 12 solar energy projects linked to the electrical grid with a total capacity of 72 kW in Karak and Ma ’ an governorates.

The energy transition in the Middle East is expected to require huge capital and foreign technology, with countries like Hong Kong supporting the region through financial services and cooperation.

The GCC countries have opportunities for renewable energy leadership, with solar PV being the least expensive energy option, and renewable energy production capacity increasing from 176MW to 5.6GW.

Title:

Content: IRENA offers great opportunities for GCC leadership in the renewable energy sector
T + T - normal size
The International Renewable Energy Agency (IRENA) has confirmed that the GCC countries have great opportunities to become a leading global hub for renewable energy, climate action and economic diversification.
In a report entitled “Renewable Energy Markets: GCC 2023 ”, the agency highlighted the opportunities for GCC countries to use their existing resources to develop innovative renewable energy solutions that contribute to reducing the impact of climate change, diversify their economies, create new jobs and reduce the environmental impact of the energy sector.
As the United Nations Climate Change Conference (COP28) takes place in the Gulf Cooperation Council (GCC) region, in Dubai, the new IRENA report is a resource for policymakers, business and society to tap into the region ’ s vast potential from this renewable energy resource.
Solar PV is now the least expensive option to produce energy in the GCC at less than $2 per kilowatt-hour, outpacing the cost of generating power using natural gas, liquefied natural gas, oil, coal and nuclear. Low generation costs and abundant solar and wind resources in the region open the door to adopting innovative energy technologies to produce resources such as green hydrogen competitively.
Francesco La Camera, Director General of the International Renewable Energy Agency (IRENA), said: “The GCC region has a unique opportunity to maintain its leading role in the international energy market as the world enters a new energy era, and this momentum is growing in the region as the GCC countries develop ambitious renewable energy and hydrogen strategies and continue to implement their zero-emission commitments.
La Camera added: Renewable energy sources have become cost-effective in the GCC. Very successful achievements have brought solar PV prices to record levels globally, enhancing their economic viability and paving the way for the inclusion of large shares of renewable energy sources in the electricity mix.
To translate ambitious goals into reality on the ground, more sustained action is needed.
Production Capabilities
The report highlights the significant increase in renewable energy production capacity in the GCC, from 176 megawatts in 2013 to more than 5.6 gigawatts in 2022.
However, renewables still represent a small fraction of the region ’ s electricity generation capacity, while energy end-uses continue to rely on fossil fuels.
Public investments in infrastructure and value chains can stimulate and enable the deployment of renewable energy while enhancing the benefits associated with it.
The report stresses the importance of building on existing energy infrastructure, including the promotion of regional connectivity and infrastructure development to support the deployment of renewable energy sources in end-uses such as transportation.
The report emphasizes that GCC countries have an opportunity to play a greater role in achieving global energy and sustainability goals, both domestically and internationally.
The report concludes that GCC countries are well positioned, in addition to continuing their efforts at national levels, to support the energy transition in developing countries through joint international investments in renewable energy.
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The Middle East Climate Week discusses the renewable energy transition, with Saudi Arabia hosting the Middle East and North Africa Climate Week 2023, and adopting programs to address climate change.

The region's energy transition is crucial in achieving climate goals, with the renewable energy sector providing a comprehensive solution to the climate crisis, and reducing greenhouse gas emissions significantly.

The UAE aims to achieve zero emissions by 2050, with a target of investing $36 billion to meet its climate goals by 2030.

The country also plans to increase its clean energy capacity to 19.8 gigawatts by 2030 and reduce carbon dioxide emissions by 100 million metric tons.

Saudi Arabia, on the other hand, targets zero emissions by 2060 and aims for 50% renewable energy by 2030.

The GCC countries have invested $1.7 trillion in renewable energy in 2022, with a goal of increasing their GDP to $13 trillion by 2050 through green growth.

The UAE has launched the Earth Platform to measure energy transformation progress and aims to invest AED 150-200 billion in renewable energy by 2030.

The country also targets 50,000 new green jobs by 2030 and plans to produce 1.4 million tonnes of hydrogen per year by 2031.

The Middle East and North Africa region is a global leader in carbon capture utilization and storage, and the UAE outshines other MENA countries in climate change adaptation measures.

The EY climate change readiness index measures the readiness of GCC members and Egypt and Jordan to address climate change, with the UAE leading the MENA region in energy transition and renewables development.

The index offers scorecards to track performance relative to global benchmarks, providing a tool for governments to evaluate their progress towards climate goals.

The World Economic Forum publishes the Energy Transition Index, which assesses 120 countries' performance in energy transition, with Jordan ranking 71 globally and fifth in the Arab world.

The index evaluates countries' energy transition progress based on two main axes: Energy System Performance and Transformation Readiness.

The UAE sees energy transition as an economic growth opportunity and aims to leverage its position to

The UAE sees energy transition as an economic growth opportunity and aims to leverage its position to

The UAE sees energy transition as an economic growth opportunity and aims to leverage its position to