The Middle East region is undergoing a significant energy transition, with several countries investing heavily in solar energy as part of their strategies to reduce dependence on oil wealth.

The United Arab Emirates (UAE) leads Arab countries in solar energy production, with a notable example being the Al Dhafra solar farm, which is the world's largest single solar farm.

The UAE has a solar power capacity of 3.2 GW and aims to increase its renewable energy capacity to 14 GW by 2030.

Egypt is also a major player in the region's solar energy market, with the Benban Solar Park having a capacity of 1,800 megawatts and being valued at $4 billion.

Saudi Arabia has the largest solar power plant in the Middle East and North Africa, with a production capacity of 2060 megawatts, located in the Makkah region, Shuaiba area.

The Middle East saw a 12.8% increase in renewables in 2022, and Arab countries expect $1 trillion investment in renewables by 2040.

The UAE, Saudi Arabia, Morocco, and Egypt have high solar radiation levels, making them ideal locations for solar energy projects.

The MENA region aims to increase its renewable energy capacity by 2030, with a goal of doubling energy efficiency and increasing renewables.

Jordan has achieved 31% of its renewable energy target ahead of its 2030 schedule and plans to increase its renewable energy target to 50%.

Iraq aims to have 20-25% of its energy come from renewable sources by the end of the decade, with Masdar implementing 5 solar projects with a capacity of 1 gigawatt.

Oman expects significant growth in its renewable energy capacity and is investing heavily in energy transformation and clean energy.

Kuwait is also investing in solar and wind power plants, and encourages its citizens to sell excess electricity to the government.

Morocco is expanding its solar energy capabilities, with a focus on developing its renewable energy sector.

Egypt is targeting a 2030 energy hub strategy, with a focus on developing its solar and wind power capabilities.

The UAE is contributing to the MENA region's renewable growth, with a focus on developing its solar energy sector.

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

The Middle East has enormous potential for large-scale solar power, with the region's solar energy market expected to grow significantly in the coming years.

The UAE's Al Dhafra solar farm has reduced carbon emissions by 2.4 million tons and powers nearly 200,000 homes.

The Egyptian government has set rules to increase the number of small household units using solar energy, and offers solar loans up to EGP 2 million with a repayment period of seven years.

The Jordanian government offers solar loans up to 20 thousand dinars without interest, and is preparing for the third phase of its solar energy support program.

The Iraqi government provides solar energy subsidies with loan interest not exceeding 1%, and finances solar installation with loans between 7 million and 1 billion dinars.

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

The Middle East saw a 12.8% increase in renewables in 2022, with renewable energy capacity expected to reach 45 gigawatts by 2027 in the Arab region.

Eight Arab countries are expected to lead the renewable energy trend in the next 10 years, with the UAE topping Arab countries in solar energy production and Egypt being the largest Arab country in wind energy production.

The UAE aims to triple renewable energy production by 2030, while Egypt targets 42% renewable energy in total electricity by 2035.

Saudi Arabia has launched a National Renewable Energy Program, and Oman aims for 20% renewable energy consumption by 2030.

Egypt offers tax exemptions for renewable energy projects, as well as a feed-in tariff system, and has introduced a Renewable Energy Law to address the development and promotion of solar, wind, and hydropower.

The Egyptian government provides financial incentives for renewable energy projects through the Investment Law, and offers government subsidies and grants for renewable energy projects.

Land allocation is offered at subsidized prices for renewable energy facilities in Egypt, and regulatory support simplifies approval and licensing procedures.

The GCC countries have opportunities to lead in the renewable energy sector, with solar PV being the least expensive energy option in the GCC at $2/kWh.

The GCC region has abundant solar and wind resources for energy production, and public investments can stimulate renewable energy deployment in the GCC.

Oman aims for 16% of electricity from renewables by 2025 and 30% by 2030, with a target of 1 million tonnes per annum of green hydrogen output by 2030.

The UAE aims to generate 50% of electricity from renewables by 2050, and has announced a "Net Zero by 2050 Initiative" with $163 billion investment.

Saudi Arabia plans to increase renewables from 0.3% to 50% by 2030, and the UAE will rely on nuclear and renewable energy for electricity.

Egypt offers a 5% value-added tax for renewable energy investments and aims for 61 GW of installed renewable energy capacity by 2035.

The Egyptian government has introduced competitive bidding and feed-in tariffs for renewable energy, and the central bank guarantees financing loans for renewable energy projects.

The UAE invests $163.5bn in clean energy projects and aims to achieve net zero emissions by 2050, while Saudi Arabia targets carbon neutrality by 2060.

Egypt aims for 42% renewable electricity by 2035, and the Middle East countries are boosting clean energy investment, with the UAE building the world's largest solar plant in Al Dhafra.

Jordan aims for 50% renewable energy by 2030, and the UAE promotes renewable energy for economic diversification, while Saudi Arabia invests in renewable energy development.

The Jordanian government provides solar loan programs for citizens to adopt clean energy, and Lebanon offers solar energy loans to low- and middle-income individuals.

Egypt provides solar energy subsidies through government banks, and Kuwait encourages citizens to sell excess solar energy to the government.

The Arab countries aim to increase renewable energy contribution by 2050, and Jordan offers government support for energy transition to renewable energy.

The Oman Declaration promotes peace and sustainable development through renewable energy, and the Arab Renewable Energy Authority encourages investments in renewable energy.

The Middle East and North Africa region has abundant wind energy, which can support a stable renewable energy transition.

The Arab world holds 57% of the world's crude oil reserves, making the transition to renewable energy a significant shift for the region.

Higher crude oil prices can improve the outlook for Middle East sovereign bonds, but economic diversification is still urgent for the region.

Shifting away from fossil fuels is a priority for GCC governments, and the speed of the energy transition will determine the region's creditworthiness.

The region is highly dependent on fossil fuels, with the Middle East and North Africa accounting for 36% of global oil production in 2018.

However, several countries in the region are investing heavily in renewable energy, with the UAE aiming to increase its clean energy share to 50% by 2050.

Egypt has secured $84 billion in investments for green hydrogen production, which is expected to support local industries and job creation.

Jordan has spent over $5 billion on energy projects and investments, aiming to be a regional green development center.

The UAE is diversifying its economy through energy transition, with a focus on hydrogen and solar energy.

Saudi Arabia is also investing in hydrogen production and has vast areas for solar and wind energy projects.

The region can generate 60% of its electricity from renewables by 2030, with Morocco targeting 52% of its electricity from renewable sources by 2030.

Egypt aims to export clean energy to the world, with a focus on green hydrogen production.

The energy transition is expected to have a significant impact on the local economy, with $879 billion in energy investments expected in the Middle East over the next five years.

The region is also vulnerable to climate change, with 9 of the 10 most water-poor countries located in the Middle East.

The energy transition will change Middle East economies profoundly, with global consumption patterns shifting away from oil.

The region needs new policies for a low-carbon economy transition, with eight countries targeted for green transformation, including Bahrain and Egypt.

Sovereign wealth funds in the region can finance the green economy transition, with HSBC leading the transition to a carbon-neutral global economy.

The region has an opportunity to realign its development to environmentally resilient pathways, with governments able to take actions for significant impact on the clean energy transition.

The economic impact of the energy transition on Middle Eastern economies will be significant, with the potential for job creation, economic growth, and reduced dependence on fossil fuels.

However, the region also faces challenges, including lagging infrastructure and debt, which can affect the development of renewable energy.

Islamic finance can support Middle East renewable energy projects, with the potential for significant investment in the sector.

Overall, the energy transition in the Middle East has the potential to have a significant impact on the region's economy and climate goals, with several countries investing heavily in renewable energy and reducing their dependence on fossil fuels.

The Middle East region is undergoing a significant energy transition, with several countries investing heavily in solar energy as part of their strategies to reduce dependence on oil wealth.

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Content: Scaling up next generation solar and storage technologies in Victoria

On behalf of the Australian Government, the Australian Renewable Energy Agency (ARENA) has announced $10 million in funding to RayGen Resources Pty Ltd (RayGen) to progress its hi-tech solar and thermal storage technology along the commercialisation pathway towards a full utility scale deployment.

The funding will help RayGen improve the design of its technology, achieve material cost reductions and conduct a basic and front-end engineering design (FEED) of a planned utility-scale 200 MW solar and 115 MW / 1.2 GWh storage deployment of its technology in Australia.

The funding comes as RayGen officially opened its power plant in Carwarp in north-western Victoria today. The commercial project demonstrates RayGen’s innovative technologies across hi-tech solar and thermal storage. Together these technologies will generate 4 MW of renewable power backed with 2.8 MW / 50 MWh of storage for around 17 hours duration.

Successful commissioning of the Carwarp site is a significant milestone in the commercialisation of RayGen’s technology.

RayGen’s upcoming $32.7 million project with ARENA will help to reduce the cost of dispatchable renewable energy and unlock a pipeline of opportunities in Australia and internationally.

ARENA CEO Darren Miller said the growth of RayGen’s technology will help to address Australia’s future dispatchable electricity and energy storage needs.

“ARENA has supported RayGen for over a decade from early design validation, through to pilot-scale and now progressing to utility-scale assets.

ARENA plays a critical role by supporting homegrown innovation by helping to validate the technical performance and commercial viability of the technology, which then gives confidence to offtakers, developers and investors,” Mr Miller said.

“Given RayGen’s operating characteristics and cost reduction potential at scale, its solar-and-storage technology could make a significant contribution to addressing Australia’s growing need for dispatchable renewable electricity and longer duration energy storage.”

“We’re excited by the opportunities RayGen’s renewable energy technology offers in helping us get to net zero. As we celebrate the opening of its Carwarp site, we also look forward to supporting RayGen during its next phase.”

RayGen CEO Richard Payne said: “ARENA plays an essential role in supporting the technologies that drive Australia’s renewable energy transition and positioning Australian manufacturing for new global export opportunities.

“RayGen would not be in the position to deliver Australian jobs and put downward pressure on energy prices without ARENA’s ongoing support. We look forward to continuing our relationship with ARENA as we develop upcoming projects throughout Australia.”

ARENA has supported RayGen since 2012, providing a total of $38.4 million across five previous projects as well as this newly announced project. Prior funding has included support for a pre-commercial scale pilot of their early-stage technology, development and deployment of their hi-tech solar and thermal technologies, through to the feasibility and development stage of the RayGen Carwarp project.

The United Arab Emirates (UAE) leads Arab countries in solar energy production, with a notable example being the Al Dhafra solar farm, which is the world's largest single solar farm.

Title:

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

The UAE has a solar power capacity of 3.2 GW and aims to increase its renewable energy capacity to 14 GW by 2030.

Egypt is also a major player in the region's solar energy market, with the Benban Solar Park having a capacity of 1,800 megawatts and being valued at $4 billion.

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

Saudi Arabia has the largest solar power plant in the Middle East and North Africa, with a production capacity of 2060 megawatts, located in the Makkah region, Shuaiba area.

Title:

Content: Saudi Arabia...
Signing an agreement to build the largest solar power plant in the Middle East and North Africa
Money and Business
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ACWA Power and BADIL, a subsidiary of the Public Investment Fund (PIF), have signed an agreement to build the largest solar power plant in the Middle East and North Africa in Makkah, Saudi Arabia.
According to a statement published by the Water and Electricity Holding Company "BADIL", the production capacity of the project is 2060 megawatts, and will be held in Shuaiba in the Makkah region.
The company said that the project will be jointly owned by BADIL and ACWA Power at a rate of 50% each, through the establishment of a joint company for the development of the project under the name of "Shuaiba II Electric Power Company".
BADIL and ACWA Power will build, own and operate Shuaiba 2 and sell electricity through it to Saudi Power Purchase, which, when fully completed, will supply 350,000 residential units with electricity.
Shuaiba 2 is ACWA Power ’ s sixth solar power plant in the Kingdom, while ACWA Power ’ s local portfolio includes 13 power generation, water desalination and green hydrogen production plants.
ACWA Power announced yesterday that it has signed a power purchase agreement for the largest solar PV plant in the Middle East and North Africa (MENA) region, Shuaiba II Solar PV Plant in Makkah, with a production capacity of 2060 MW worth $1.75 billion.
She explained that the contract period is 35 years, indicating that the Shuaiba II solar PV plant will be developed, financed, built, owned and operated with a production capacity of 2060 MW.
Source: Saudi Media
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The Middle East saw a 12.8% increase in renewables in 2022, and Arab countries expect $1 trillion investment in renewables by 2040.

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 UAE, Saudi Arabia, Morocco, and Egypt have high solar radiation levels, making them ideal locations for solar energy projects.

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.

The MENA region aims to increase its renewable energy capacity by 2030, with a goal of doubling energy efficiency and increasing renewables.

Jordan has achieved 31% of its renewable energy target ahead of its 2030 schedule and plans to increase its renewable energy target to 50%.

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

Iraq aims to have 20-25% of its energy come from renewable sources by the end of the decade, with Masdar implementing 5 solar projects with a capacity of 1 gigawatt.

Title:

Content: Masdar implements five solar energy projects in Iraq
Abu Dhabi Future Energy Company (Masdar) announced yesterday the signing of a strategic agreement with the Republic of Iraq to develop five solar photovoltaic projects in the country with a total production capacity of 1 gigawatt.
Masdar signed an implementation agreement with the Ministry of Electricity and the National Investment Commission of Iraq to develop five solar energy projects in different regions of the country, including a 450 MW plant in Dhi Qar province in the south, two 100 MW and 250 MW plants in Ramadi city in the center of the country, a 100 MW plant in Mosul in the north, and a 100 MW plant in Amara city in the southeast.
During a ceremony held in the Iraqi capital Baghdad in the presence of Iraqi Prime Minister Mustafa Al-Kazemi, HE Suhail bin Mohammed Faraj Faris Al-Mazrouei, UAE Minister of Energy and Infrastructure, Ihsan Abdul Jabbar Ismail, Chairman of the Ministerial Council of Energy and Minister of Oil of Iraq, Adel Karim, Minister of Electricity of Iraq, and Salim Issa Al-Qattam Al-Zaabi, UAE Ambassador to Iraq, and members of Masdar, signed the agreement. Al-Najjar, President of the National Investment Commission of Iraq, Maha Hamoudi Abdul Jabbar, Director General of the Investment and Contracts Department at the Iraqi Ministry of Electricity, and Mohammed Jamil Al-Ramahi, CEO of Masdar.
His Excellency Suhail Al Mazrouei expressed his happiness with the promotion of fruitful cooperation between the UAE and the Republic of Iraq, stressing the importance of this agreement in supporting Iraq's efforts to achieve its objectives in the fields of energy and reduce the consequences of climate change.
In recent years, the renewable energy sector has grown rapidly, and clean technologies have proven their economic viability. Masdar has established its leadership in this sector through a diversified portfolio of projects to support the UAE ’ s efforts to build a competitive economy based on knowledge and innovation, a sustainable environment and a developed and integrated infrastructure.
He added: “Through this important agreement, we look forward to exploring more opportunities in the region rich in natural resources, and strengthening our partnership with our brothers in Iraq, in order to promote the development process witnessed by the country and to ensure a better and sustainable future for the region. ”
Exchange of experiences
Mohammed Jameel Al Ramahi, CEO of Masdar, said that the agreement strengthens the strong relations between the UAE and the Republic of Iraq, and allows the exchange of experiences and knowledge between the two countries, pointing out that the UAE and Iraq share in the quest to enhance the energy mix, thus contributing effectively to the efforts of climate action.
Masdar has contributed to the spread of renewable energy solutions, driving innovation in clean technologies and developing projects in more than 30 countries around the world, and we will use our experience in developing these global projects to support Iraqi efforts in the process of transformation within the energy sector.
In June, Masdar announced the signing of the main provisions of the future contract agreement with the Ministry of Electricity and the National Investment Commission of Iraq to develop solar photovoltaic projects in the country with a total production capacity of a minimum of 2 gigawatts.
Iraq is the second largest oil producer within the Organization of Petroleum Exporting Countries (OPEC), and is looking to increase the share of renewable energy in total energy production from 20 to 25% by the end of this decade, to address supply problems and achieve climate goals.
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Oman expects significant growth in its renewable energy capacity and is investing heavily in energy transformation and clean energy.

Kuwait is also investing in solar and wind power plants, and encourages its citizens to sell excess electricity to the government.

Title:

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

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
Economist: Egypt is linked to 2030 strategy and will be an energy hub
Dr. Walid Jaballah, an economist, said that the Arab countries ’ increase in renewable energy capacity by 57% is a medium increase and is concentrated in Egypt, Saudi Arabia, Oman and Morocco.
During a telephone interview with Extra News, Jaballah said that these countries are taking the approach of economic diversification in the Gulf, Egypt and Morocco, while other Arab countries are still not concerned with this file and are suffering from problems related to exporting the necessary financing in order to move to the path of renewable energy.
He added that Egypt is linked to its 2030 strategy and to be a regional energy hub with real projects on the ground, where he issued a solar power plant in Biban and wind power plants on the Red Sea coast.
The expert pointed out that Egypt, Saudi Arabia, the UAE, Oman and Morocco account for more than 72% of the total renewable energy growth in the MENA region until 2027.

Egypt is targeting a 2030 energy hub strategy, with a focus on developing its solar and wind power capabilities.

The UAE is contributing to the MENA region's renewable growth, with a focus on developing its solar energy sector.

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
Economist: Egypt is linked to 2030 strategy and will be an energy hub
Dr. Walid Jaballah, an economist, said that the Arab countries ’ increase in renewable energy capacity by 57% is a medium increase and is concentrated in Egypt, Saudi Arabia, Oman and Morocco.
During a telephone interview with Extra News, Jaballah said that these countries are taking the approach of economic diversification in the Gulf, Egypt and Morocco, while other Arab countries are still not concerned with this file and are suffering from problems related to exporting the necessary financing in order to move to the path of renewable energy.
He added that Egypt is linked to its 2030 strategy and to be a regional energy hub with real projects on the ground, where he issued a solar power plant in Biban and wind power plants on the Red Sea coast.
The expert pointed out that Egypt, Saudi Arabia, the UAE, Oman and Morocco account for more than 72% of the total renewable energy growth in the MENA region until 2027.

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

Title:

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

The Middle East has enormous potential for large-scale solar power, with the region's solar energy market expected to grow significantly in the coming years.

The UAE's Al Dhafra solar farm has reduced carbon emissions by 2.4 million tons and powers nearly 200,000 homes.

The Egyptian government has set rules to increase the number of small household units using solar energy, and offers solar loans up to EGP 2 million with a repayment period of seven years.

The Jordanian government offers solar loans up to 20 thousand dinars without interest, and is preparing for the third phase of its solar energy support program.

The Iraqi government provides solar energy subsidies with loan interest not exceeding 1%, and finances solar installation with loans between 7 million and 1 billion dinars.

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

The Middle East saw a 12.8% increase in renewables in 2022, with renewable energy capacity expected to reach 45 gigawatts by 2027 in the Arab region.

Eight Arab countries are expected to lead the renewable energy trend in the next 10 years, with the UAE topping Arab countries in solar energy production and Egypt being the largest Arab country in wind energy production.

The UAE aims to triple renewable energy production by 2030, while Egypt targets 42% renewable energy in total electricity by 2035.

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.
Arab Monetary Fund: Growing interest of Egypt and countries in the region in renewable energy
The Arab Monetary Fund (AMF) has confirmed the increasing interest of Arab countries in renewable energy with the aim of diversifying the national mix of energy sources and working to reduce harmful emissions to the environment through the adoption of clean energy technologies and the safe disposal of carbon.
In the 55th issue of its series of introduction booklets entitled “Renewable Energy ”, the Fund stated that the UAE aims to triple its renewable energy production capacity by 2030 and increase the contribution of clean energy in total energy production to 30% by 2030, reaching 38% by 2035.
He pointed out that the Arab Republic of Egypt aims in its integrated energy strategy until 2035 to reach 42% of the total electricity produced in 2035, where the current contribution of renewable energy including hydropower in the total electricity produced is about 12%.
The IMF pointed out that within the framework of Saudi Arabia ’ s National Renewable Energy Program, which is a strategic initiative launched within the Kingdom ’ s Vision 2030, and the Custodian of the Two Holy Mosques Renewable Energy Initiative, the Kingdom aims to increase its share in renewable energy production, balance the local energy mix and meet its commitments to avoid emissions.
The IMF pointed out that Oman ’ s Vision 2040 includes goals related to achieving energy security through diversifying energy sources, increasing reliance on renewable energy, and rationalizing consumption, and aims to increase the proportion of renewable energy consumption in total energy consumption to reach 20% in 2030, rising to between 35% and 39% in 2040.
Qatar National Action Plan for Climate Change 2030
According to the IMF, the Qatar National Action Plan for Climate Change 2030 stressed the importance of expanding renewable energy projects and the integration of renewable energy sources in the energy mix in Qatar is an opportunity to liberalize energy production for export, reduce the amount of oil and gas consumed in desalination and power generation, and reduce greenhouse gas emissions.
The IMF pointed out that the energy management strategy in Tunisia aims to enhance energy efficiency by reducing the national consumption of primary energy by 30%, and the development of renewable energy sources by raising the contribution of renewable energy in electricity production to 30% by 2030, while in Algeria the government ’ s action plan aims to achieve a production capacity of 15,000 GW by 2035 based on renewable energy sources, especially solar energy.
In its comprehensive energy sector strategy for the years 2020-2030, Jordan aims to increase the contribution of renewable energy to electricity generation to 31% in 2030 compared to 21% in 2020, while Morocco ’ s energy strategy aims to increase the share of renewable energies in electricity generation from 20% to more than 52% in 2030.
The IMF pointed out that the rest of the Arab countries such as Iraq, Bahrain, Libya and the United States are working to enhance their use of renewable energy sources, especially solar energy, which Arab countries rely on a lot in light of the Arab region's advantages related to the solar belt that surrounds it, which is characterized by the availability of bright sunlight and heat that extends for long periods during the year.
The Arab Monetary Fund pointed out that the global interest in expanding the use of renewable and clean energy sources, in light of the ongoing challenges related to achieving energy security that have emerged clearly globally on the one hand, and the increasing demand for energy on the other hand, in addition to the growing environmental challenges that push towards the transformation of energy systems to clean, sustainable and affordable energy.
The IMF pointed out that despite the increasing interest in renewable energy, its contribution to the global energy mix remains modest, with several challenges related to the ability of renewable energy to meet the requirements of reliability and sustainability in relation to the availability of certain weather and climate conditions such as intensity and longevity of sunlight and heat, wind speed and water flow strength.

Saudi Arabia has launched a National Renewable Energy Program, and Oman aims for 20% renewable energy consumption by 2030.

Egypt offers tax exemptions for renewable energy projects, as well as a feed-in tariff system, and has introduced a Renewable Energy Law to address the development and promotion of solar, wind, and hydropower.

Title:

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

The Egyptian government provides financial incentives for renewable energy projects through the Investment Law, and offers government subsidies and grants for renewable energy projects.

Land allocation is offered at subsidized prices for renewable energy facilities in Egypt, and regulatory support simplifies approval and licensing procedures.

The GCC countries have opportunities to lead in the renewable energy sector, with solar PV being the least expensive energy option in the GCC at $2/kWh.

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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 GCC region has abundant solar and wind resources for energy production, and public investments can stimulate renewable energy deployment in the GCC.

Oman aims for 16% of electricity from renewables by 2025 and 30% by 2030, with a target of 1 million tonnes per annum of green hydrogen output by 2030.

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

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

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

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

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

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

The UAE aims to generate 50% of electricity from renewables by 2050, and has announced a "Net Zero by 2050 Initiative" with $163 billion investment.

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Content: The Guardian: The Middle East is facing a ‘ resurrection ’
And Mecca may not be livable by the end of the century.
Friday 29 October 2021 05: 27 pm / Jerusalem time + 2GMT
London / Sama /
Titled “Resurrection Soon: A Reluctant Middle East Forced to Awareness of the Climate Crisis, ” The Guardian ’ s diplomatic editor Patrick Wintour said that Hurricane Shaheen hit Oman some time ago, the first tropical cyclone to reach this point west into the Gulf.
In Basra, southern Iraq, power has been cut off frequently as a result of this summer ’ s temperature of 50 degrees Celsius, forcing residents to move in their cars to get cold.
Kuwait broke the record for the hottest day of 2016 of 53.6 degrees Celsius, and this summer temperatures were very high, with floods in Jeddah and more recently in Mecca at a time when temperatures in Saudi Arabia have increased by 2 percent and the maximum temperature of 2.5 percent since the 1980s.
Qatar is the world ’ s highest emitting country and the world ’ s largest producer of liquefied gas (LNG), and public spaces are equipped with air conditioners.
In Tehran, pollution annually kills 4,000 people a year, and in Khuzestan province, citizens have blocked streets and burned tires due to drought as a result of mismanagement, U.S. sanctions and a deadly atmosphere.
In the United Arab Emirates, the climate crisis is estimated to cost $6 billion a year, the highest in terms of health costs.
The salinity of the Gulf increased with the proliferation of desalination plants by 20%, which affected marine life and biodiversity.
Conditions are expected to worsen at a time of rising temperatures, humidity and sea levels.
Warming rates in the Middle East are twice as high as in the world.
By the end of the century, if the dangerous predictions are correct, Mecca may not be fit for life, making the Hajj season dangerous if not catastrophic.
Large swaths of the Middle East have come to resemble the Afar region of Ethiopia, a vast area without human settlement that pushes towards the Red Sea.
The glittering cities of the Gulf may face the dilemma of rising water levels themselves.
We do not speak of the day of judgment, but of the day of judgment.
Jim Crane, an energy researcher at Rice University in Houston, said: “This is really a difficult topic because the interests of the ruling elites are at odds with the interests of the citizens.
The ruling elite depends on oil resources for the survival of their regimes.
They want to keep the oil trade in order to keep them in power.
Their system is based on oil leasing, but the population ’ s ultimate interests lie in a sustainable climate. ”
Zeina Khalil Haj, founder of Greenpeace in the Middle East, believes that the region is suffering from double pressure: “With increasing demands for energy change, a region that relies on fossil energy, oil and carbon for its economic survival, but cannot continue this dependency.
There will be no oil market but with climate change, they are required to increase efforts to survive.
The extreme climate is changing people ’ s lives on a daily basis and there is no choice but to go green. ”
The West ’ s persistent appetite for fossil energy has led the region to build car-based cities, shiny skyscrapers filled with air conditioners and shopping malls.
It must look for ways to avoid self-destruction, and it must be, according to Thomas Friedman, the Prometheus moment for the Middle East and the search for creative and creative ways.
In fact, the region has been reminded for a decade that it has to make the transition from oil.
Although the moment when oil demand will reach its highest point remains controversial, and depends on a number of assumptions about regulation, technology and customer behavior, the point I mentioned is 2040, after which demand will decline.
But the International Energy Organization ’ s “Net Zero ” report sees the peak as 2050 and by comparison suggests a reduction in oil demand from 88 million barrels per day in 2020 to 72 million barrels per day by 2030, and 24 million barrels per day in 2050, a 75% decline between 2020-2050.
The report argues that the Gulf has three factors underpinning the transformation: capital, sun, and vast, empty spaces.
Until recently, the Gulf states, including Iran, did not feel the desire to shift away from fossil energy to this extent.
When asked, Saudi Oil Minister Prince Abdulaziz bin Salman said it was “a sequel to La La Land, ” meaning that the report and its writers do not know what is happening.
"If I wanted to worry about the IEA's expectations, I would be on Prozac all the time," he said.
Qatar ’ s Energy Minister Saad al-Kaabi said reducing oil and gas production levels would affect the supply process and laughed at “the enthusiasm surrounding the transition. ”
The Organization of Petroleum Producing and Exporting Countries (OPEC) forecasts that the process of oil demand will increase significantly through 2045 and the share of oil in global energy demand will fall from 30% to 28%, which is not a green revolution.
Gulf states still rely on gas and oil exports, accounting for 70 percent of goods exported from Kuwait, Qatar, Saudi Arabia and Oman.
Oil resources account for more than 70% of the total resources of Kuwait, Qatar, Oman and Bahrain.
In Vision 2030, published by Prince Mohammed bin Salman in 2016, he promised to turn the country into an important industrial hub.
World Bank figures show that Saudi Arabia relies on 75% of its oil resources for its budget.
Aramco, which is making its mark on global carbon emissions, is not diversifying at the same pace as Shell or BP.
Instead, it announced it would increase crude oil production capacity from 12 million barrels per day to 13 million barrels per day by 2027.
Haj believes that the shift away from oil may require a psychological shift from the consumer mentality, “The Gulf has not yet reached this kind of discussion.
If you see the way of life in the UAE and Qatar, it is based on inexhaustible consumption, and I fear we are still a long way from that in terms of politics and readiness. ”
Iran is the largest country in the world in terms of carbon emissions by population, followed by the UAE in second place and Saudi Arabia in 13th place.
Of course, Gulf rulers at events such as the Glasgow climate conference can defend themselves by saying that their region is not the primary source of carbon emissions, and historically, collectively, accounts for 4.7% less than carbon emissions and pollution from the United States, Europe and China.
The Middle East exports oil, but pollution is the responsibility of those who import it.
But the region ’ s leaders have come to grips with the problem not because of Western pressure but in response to citizens ’ demands, the goose has realized that the eggs, the oil, are no longer golden but brown.
The UAE is the first country to say it has moved to ratify the Paris Treaty and is the least dependent Gulf state on oil for its government resources.
Last week, she announced the “Net Zero by 2050 Initiative ” with an initial investment budget of $163 billion and appointed the Minister of Climate Change and Environment, Maryam Al Muhairi.
The announcement came after the government ordered awareness sessions in all its ministries since June for 80 days.
It was the first country in the Gulf to adopt a net zero domestic consumption policy.
The plan is still in its infancy and some of its features are unclear, but the direction is clear.
It promised to rely on renewable and nuclear energy by 50% to generate electricity by 2050.
Abu Dhabi ’ s national oil company said it would get 100 percent of its electricity from the nuclear reactor and solar power.
The Mohammed bin Maktoum Solar Park will be the largest in the world with a capacity of 5,000 megawatts.
Gulf states are competing with each other, with news reports that Qatar has appointed a climate minister, Bahrain aiming for net zero carbon by 2050 and Kuwait announcing a plan to reduce carbon emissions.
Saudi Arabia does not like to be late.
It announced that it would increase the proportion of renewable energy from 0.3% to 50% by 2030.
The plan is to plant 10 million trees in the coming decades.
Over the weekend, the kingdom organized a summit of the Green Middle East Initiative, attended by John Kerry and Britain ’ s Prince Charles.
It promised to reach net zero carbon emissions in its territory by 2060.
The main reason the Gulf states have been slow to shift away from oil and its commodities is that they have made them rich and helped them anesthetize their citizens.
Their loyalty was bought through a series of subsidies for water, electricity, fuel and tax breaks.
These dynamics were different from Iraq, Lebanon and to a lesser extent Iran, but the situation is changing with the emergence of local environmental groups.

Saudi Arabia plans to increase renewables from 0.3% to 50% by 2030, and the UAE will rely on nuclear and renewable energy for electricity.

Egypt offers a 5% value-added tax for renewable energy investments and aims for 61 GW of installed renewable energy capacity by 2035.

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Content: People 's Network > > International
Egypt encourages renewable energy development
Our reporter Huang Peizhao
January 13, 2023 05: 44 | Source: People's Daily - People's Daily
Small number
Recently, the Egyptian sovereign fund signed a number of renewable energy cooperation agreements with nine investors, totaling 83 billion US dollars, focusing on green hydrogen energy, green ammonia and other projects.
Egyptian Minister of Electricity and Renewable Energy Shaker said that in the next 10 years, Egypt will have about 100 GW of renewable energy used to produce green hydrogen, which will become a considerable source of revenue for Egypt, while reducing 37 million tons of carbon emissions annually.
In terms of renewable energy, Egypt has a superior resource endowment.
Solar radiation levels are high in the Suez region, and the average wind speed in the south is as high as 12.86 m / s.
At present, nearly 80% of the green hydrogen projects announced by Egypt are located in the Suez Canal Special Economic Zone, which is a global logistics hub connecting Europe, Asia and Africa, which is conducive to meeting the needs of the Middle East and the European Union.
In recent years, the Egyptian government has been increasing its policy, financial and technical support for renewable energy.
According to the “Comprehensive Sustainable Energy Strategy 2035 ” released by the Egyptian government in early 2020, by 2035, Egypt ’ s installed renewable energy capacity will reach 61 GW, including 43 GW of solar and 18 GW of wind. In 2022, 20% of Egypt ’ s electricity supply will come from renewable sources, and this proportion will increase to 42% in 2035.
According to Egypt Today, the capacity of renewable energy projects under construction in Egypt in the fiscal year 2021-2022 reached 3,570 megawatts, double that of the same period in 2020.
At the 27th Conference of the Parties to the United Nations Framework Convention on Climate Change, held in Sharm El Sheikh, Egypt in 2022, Egypt announced the outline of a low-carbon hydrogen strategy, setting out the goal of building a hydrogen production center and obtaining a global market share of 5% by 2040.
The Egyptian government has set up a series of preferential policies to encourage renewable energy development and investment.
According to the value-added tax law, the capital component of renewable energy is only required to pay 5% value-added tax, and the central bank guarantees financing loans to enterprises engaged in renewable energy projects.
In addition, under the guidance of the Renewable Energy Law, Egypt has introduced a number of related development plans, including competitive bidding, feed-in tariffs, and the participation of independent third parties.
At the same time, Egypt has facilitated foreign investment and promoted the localization of the renewable energy industry.
The International Energy Agency (IEA) has predicted that Egypt's renewable energy production capacity will grow by 68 percent over the next five years.
The article of the Middle East Economic Network pointed out that the active development of renewable energy will help Egypt to diversify its energy structure and increase employment.
Egypt's hydrogen-related projects will also bring about 45,000 direct jobs and 230,000 indirect jobs, Shaker said.
(Newspaper from Cairo)
People 's Daily (January 13, 2023, 15 edition)
(Editor: Yuan Bo, Yang Guangyu)
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The Egyptian government has introduced competitive bidding and feed-in tariffs for renewable energy, and the central bank guarantees financing loans for renewable energy projects.

The UAE invests $163.5bn in clean energy projects and aims to achieve net zero emissions by 2050, while Saudi Arabia targets carbon neutrality by 2060.

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Updated: October 19, 2022, 10:41 AM
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Egypt aims for 42% renewable electricity by 2035, and the Middle East countries are boosting clean energy investment, with the UAE building the world's largest solar plant in Al Dhafra.

Jordan aims for 50% renewable energy by 2030, and the UAE promotes renewable energy for economic diversification, while Saudi Arabia invests in renewable energy development.

The Jordanian government provides solar loan programs for citizens to adopt clean energy, and Lebanon offers solar energy loans to low- and middle-income individuals.

Egypt provides solar energy subsidies through government banks, and Kuwait encourages citizens to sell excess solar energy to the government.

The Arab countries aim to increase renewable energy contribution by 2050, and Jordan offers government support for energy transition to renewable energy.

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Content: Saturday 11-05-2024
Energy Investment Forum Launches Oman Declaration of Peace and Sustainable Development
HRH Princess Sana Assem, Chairman of the Council of Elders of the Arab Renewable Energy Authority, on Saturday sponsored the launch of the ninth International Investment Forum for Renewable Energy and its efficiency, organized by the Authority in cooperation with international and Arab institutions and with the participation of 20 Arab and foreign countries.
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During the opening of the forum, which is held under the slogan "Electric cars, smart cities and smart networks are a strategic choice for Arab countries, the Amman Declaration for Peace and Sustainable Development was launched, and the first solar car race in Jordan was announced in cooperation with the authority of Petra region and international institutions next year in Petra city.
The theme of the forum focuses on the need to develop incentives for electric cars in the Arab countries, and the need to put electric chargers in the codes of green buildings in the Arab countries.
In addition to Jordan, the three-day forum will be attended by Saudi Arabia, Kuwait, Egypt, Syria, Palestine, Iraq, Turkey, China, Ethiopia, Canada, Bulgaria, Romania, Switzerland and France.
The Secretary-General of the Commission, Eng. Mohammed Al-Taani, stressed that Jordan is a country of security and safety and a country of clean energy keeps pace with the modernization and development of the world through the creation of modern legislation that stimulates investment, focusing on renewable energy projects, smart cities, electric cars and innovative agricultural patterns with renewable energy to achieve food security.
He said that the energy transition from conventional energy to clean energy requires global peace and security, which must be achieved by the countries of the world, pointing out that the Kingdom is one of the leading countries in the energy transition and one of the safest and most stable countries in the world in the middle of a volatile region.
He added that the Kingdom is considered a global example in sustainable development policies, especially its initiative to reach zero carbon in 2040 and reduce climate change, and a pioneer in the green hydrogen industry and an incubator of creativity and innovation for Arab youth in all fields, especially renewable energy and energy efficiency.
He pointed out that the forum aims to establish a regional center that will be a regional and international platform for researchers, engineers, economists, businessmen, teachers and decision makers, and is based on achieving the objectives of the Arab Renewable Energy Authority, raising public awareness about renewable energy and its efficiency, and spreading this knowledge in all Arab countries. Encourage future investments in renewable energy and energy efficiency.
He explained that the objectives of the forum focus on enacting legislation to reform the energy strategy, stimulating the use of renewable energy in economic and social development, encouraging energy efficiency, establishing an Arab fund to support scientific research, and helping to find and support non-profit and non-governmental organizations interested in renewable energy to raise awareness and knowledge of renewable energy in the Arab world.
According to Eng. Al-Taani, the forum will focus on the topics of renewable energy legislation, green economy, financing renewable energy projects, risks of management, maintenance and monitoring, sustainable development in the Arab world, artificial intelligence, green transport and electric cars, smart cities, energy security, advanced agricultural patterns, renewable energy for food security, green hydrogen and electric car charging stations.
Jamal Abu Obeid, vice president of the Jordanian Renewable Energy Association, said that Jordan is one of the leading countries in the demand for electric cars through continuous government support towards the energy transition.
He added that energy is an important part of the lives of citizens, which pushes towards reducing reliance on traditional sources for renewable account, noting that renewable energy reduces the oil bill for about 30 percent, and that electric cars provide 300 dinars per month for those who walk more than 200 kilometers per day in their vehicles.
In turn, the representatives of the participating countries stressed the importance of strengthening international cooperation in the field of renewable energy by enacting the necessary legislation for renewable energy and the green economy, creating incentives for investment in renewable energy and facilitating citizens to expand the use of clean energy.
Speaking at the opening were Dr. Alian Arrow, President of Bioenergy Resources Consulting in France and Switzerland, Dr. Shenyuan Wang from China, Dr. Magdy Al-Toukhi, Research Expert and Advisor of the National Center of Meteorology in Saudi Arabia, Dr. Alaa Al-Nahas, Executive Director of the AREC Regional Office in Syria, and Mr. Hamza Al-Aliani, Investment and Infrastructure Commissioner of Petra Development and Tourism Authority.
The forum witnessed the active participation of electricity companies in Palestine, including the directors of Tubas electricity companies Eng. Abdullah Al-Nairat, Khalil Eng. Hazem Al-Natsheh, the North Eng. Assad Sawalmeh, the Chairman of the South Electricity Company Fawzi Abu Hillel, and a delegation from the Jerusalem District Electricity Company.

The Oman Declaration promotes peace and sustainable development through renewable energy, and the Arab Renewable Energy Authority encourages investments in renewable energy.

The Middle East and North Africa region has abundant wind energy, which can support a stable renewable energy transition.

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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 Arab world holds 57% of the world's crude oil reserves, making the transition to renewable energy a significant shift for the region.

Higher crude oil prices can improve the outlook for Middle East sovereign bonds, but economic diversification is still urgent for the region.

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Content: UBS: The outlook for sovereign bonds in the Middle East improves significantly
UBS ’ s recent EMB report shows a significant improvement in the outlook for sovereign bonds in the Middle East in 2021 thanks to higher crude oil prices (37% since the beginning of the year), higher vaccination rates against COVID-19, and reform measures in key countries in the region.
Rising government and export revenues are likely to boost fiscal and current account balances this year, although the level of fiscal gaps remains much higher than before COVID-19.
The pandemic has underscored the urgent need for countries for economic diversification, structural reform and increased private sector participation.
The region ’ s large, low-cost hydrocarbon capacity will underpin a stable transition to a renewable energy scenario, but a rapid decline in oil demand will quickly expose the vulnerabilities of governments in the absence of major economic reforms.
Ali Janoudi, Head of Wealth Management for the Middle East and Africa at UBS, said: “Shifting away from fossil fuels is a priority for GCC governments, and we view positively the reform measures they are adopting and working on, the high rates of vaccination against COVID-19, as well as the high price of crude oil, so the GCC economies appear to be on the right track. ”
Michael Bolger, Chief Investment Officer for Emerging Markets at UBS Global Wealth Management, said: “Future indicators suggest that the speed of the transition to renewable energy will be one of the key determinants of the creditworthiness of the GCC countries.
The report assesses how these countries face the challenges of the future as part of two possible energy transition paths.
It examines in detail the economies, financial positions and policies of key sovereign bonds in the Middle East and provides insights into possible scenarios and their potential implications for investors.
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Shifting away from fossil fuels is a priority for GCC governments, and the speed of the energy transition will determine the region's creditworthiness.

The region is highly dependent on fossil fuels, with the Middle East and North Africa accounting for 36% of global oil production in 2018.

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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

However, several countries in the region are investing heavily in renewable energy, with the UAE aiming to increase its clean energy share to 50% by 2050.

Egypt has secured $84 billion in investments for green hydrogen production, which is expected to support local industries and job creation.

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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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Jordan has spent over $5 billion on energy projects and investments, aiming to be a regional green development center.

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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
Secretary of the Arab Renewable Energy Authority: Egypt and Jordan make a quantum leap in the uses of clean energy
The Secretary General of the Arab Renewable Energy Authority, Eng. Mohammed Al-Taani, praised the Egyptian-Jordanian relations in all fields, especially with regard to renewable energy, stressing that Egypt and Jordan have pioneering experiences and a qualitative shift in the uses of clean energy as a basis for dealing with climate change.
Relations between Cairo and Amman
Al-Taani said that the relations between Cairo and Amman at the highest levels are historic, pointing out that the Egyptian-Jordanian relations are a model for Arab-Arab relations.
He added that Egypt is an ancient and large country and has many models and experiences in the field of renewable energy and is an Arab model to be followed by its history in this regard, pointing out that Egypt has made great strides in the field of renewable energy and the New Administrative Capital is a model that every Arab is proud of in this matter, in addition to many smart cities launched by Egypt.
He pointed out that Egypt is currently working on launching the infrastructure of environmentally friendly electric vehicles and thus taking pioneering steps in this vital sector, pointing out that Egypt and Jordan will work to export successful models in the renewable energy sector to all Arab countries.
Al-Taani pointed out that the major projects carried out by Egypt for the Arab-European electrical interconnection in cooperation with Jordan represent a qualitative leap in Arab-Arab cooperation and also a pride for all Arab citizens, pointing to the project of electrical interconnection between Egypt, Jordan, Iraq, Saudi Arabia and Cyprus.
He added that there is a trend now to major economic projects and global economic blocs in order to put the Arab world in its rightful place as it possesses energy and great expertise in the renewable energy sector and has honorable models in front of the world.
The Secretary General of the Arab Renewable Energy Authority pointed out that the energy sector in Jordan is one of the main sectors that follow long-term national strategies, the latest of which is the comprehensive national strategy for the energy sector for the year 2020-2030, pointing out that Jordan has spent more than $5 billion on projects and investments in the energy sector and exceeded the global contribution to more than 30% in renewable energy projects.
He explained that the Jordanian national strategy focuses mainly on the energy sector by diversifying the sources and forms of imported energy, developing local energy sources and benefiting from them, and encouraging private investment in energy infrastructure projects to export green energy, whether electricity produced from renewable energy sources or green hydrogen, in order to make Jordan a regional center for green development.
Jordan is first in the Middle East to switch to clean energy
He pointed out that Jordan is the first country in the Middle East in the transition to clean energy, and in terms of citizens' demand for renewable energy and electric vehicles, stressing the need to move to an authentic renewable energy industry in the Arab world instead of importing from abroad and work to strengthen electricity connectivity through smart grids in order to accelerate the energy transition and sustainable development in Arab countries.
It is noteworthy that the sessions of the eighth Arab Forum for Renewable Energy and Energy Efficiency, which was held over two days with the participation of Egypt through a delegation of the Ministry of Electricity, and a large Arab and international, while the delegations on Thursday made field visits to renewable energy projects in Jordan.
The forum focused on the importance of Jordan being a vital center for investment, a center for smart grids, green hydrogen and sustainability, and an important hub for energy transfer between the countries of Asia, Europe and Africa, as well as a specialized workshop for energy storage and electric vehicles and the importance of Arab economic integration in the field of renewable energy.
The sessions included the topics of renewable energy and sustainability, the role of women in the era of renewable energy, climate and natural factors affecting the efficiency of photovoltaic power plants, renewable energy strategy in the Arab countries, energy management and energy funds, green economy strategy in Jordan, renewable energy policies and green economy in the Arab world, and renewable energy prospects in the Arab countries.
Many Arab countries presented several environmentally friendly projects, while Egypt presented its experience in smart and environmentally friendly cities such as the administrative capital and others, as well as projects to establish power stations such as gas stations for electric cars, which began to appear in the Egyptian market in cooperation with all government and private sectors.

The UAE is diversifying its economy through energy transition, with a focus on hydrogen and solar energy.

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

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

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

By WAM

Published: Tue 18 Jan 2022, 11:12 PM

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

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

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

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

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

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

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

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

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

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

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

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

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

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Saudi Arabia is also investing in hydrogen production and has vast areas for solar and wind energy projects.

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Content: ECONOMY
MENA Climate Week Discusses Renewable Energy Transition and Carbon Emissions Reduction
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Thank you for watching and reading the news about MENA Climate Week discussing the transition of renewable energy and reducing carbon emissions.
Gulf 365 - Riyadh - Ahmed Hassan - Gulf 365 _ WAS
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 pace of achieving the transition of renewable energy and reducing carbon emissions, ” dealt with the mitigation of carbon emissions and climate change and the programs and initiatives adopted by the Kingdom to face climate change.
The speakers, who are Senior Sustainability Advisor to His Highness the Minister of Energy, Chief Negotiator of the Kingdom ’ s Climate Agreements, Dr. Khalid Al-Muhayid, 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 Nasser Al-Ghamdi, discussed the objectives of the Kingdom ’ s energy programs, priorities and current government and private solutions....
They addressed the Kingdom ’ s high records in the fields of energy and efficiency, touching on the field of hydrogen from manufacturing to strengthening regional and international supply chains, pointing to the vast areas that enable solar and wind energy projects and the export of clean energy with international connectivity.
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The region can generate 60% of its electricity from renewables by 2030, with Morocco targeting 52% of its electricity from renewable sources by 2030.

Egypt aims to export clean energy to the world, with a focus on green hydrogen production.

The energy transition is expected to have a significant impact on the local economy, with $879 billion in energy investments expected in the Middle East over the next five years.

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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 is also vulnerable to climate change, with 9 of the 10 most water-poor countries located in the Middle East.

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

The region needs new policies for a low-carbon economy transition, with eight countries targeted for green transformation, including Bahrain and Egypt.

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Content: 00: 00
Expo 2020 Dubai Today
Mohammed bin Rashid College supports governments in the region to adopt green transformation
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The Mohammed Bin Rashid School of Government (MBRSG) has published two new regional reports outlining the need for governments in the Middle East to build new tools and policies to advance climate action and accelerate the transition to a low-carbon economy.
The two reports, “Better Recovery: A Green, Resilient and Fair Recovery in the Middle East, ” were jointly conducted with HSBC to produce two regional studies,“ Aligning Policies with Green, Resilient and Fair Recovery Processes in the Middle East, ” and “Financing the Green Transformation in the Middle East. ”
The reports put forward a series of recommendations for eight countries in the Middle East, including Bahrain, Egypt, Kuwait, Iraq, Oman, Qatar, Saudi Arabia and the United Arab Emirates, that could contribute to achieving the United Nations Sustainable Development Goals and supporting the goals of the Paris Climate Agreement.
The first report, “Aligning Policies with Green, Flexible, and Equitable Recovery Processes in the Middle East, ” provides an overview of government spending and fiscal policies for recovery throughout the first year of the COVID19 pandemic, and assesses governments ’ contributions to environmental conservation, resilience, and recovery processes during the pandemic.
Recovery phase
Dr. Ali bin Sebaa Al Marri, Chief Executive Officer of the Mohammed bin Rashid School of Government, said: “The world is in a real recovery phase from the COVID-19 pandemic, and governments in the Middle East have an opportunity to realign development to more committed and environmentally resilient pathways. ”
Development Procedures
Dr. Marie Loumi, non-resident research fellow at the Mohammed bin Rashid School of Government and co-author of the first report in 2020, said: “Low oil prices have affected the ability and willingness of oil producers in the region to spend on development measures, with the first year of the COVID19 pandemic seeing few examples of recovery-oriented green policies in the Middle East.
1. Recommendations
The first report concludes with recommendations for immediate action to put the region on track towards a sustainable, low-carbon future, and calls on governments to adopt best practices in developing and implementing recovery policies.
Mustafa Bayoumi, a sustainability policy researcher at the Mohammed bin Rashid School of Government and co-author of both reports, said: “There are actions governments can take now that will have a significant impact, putting the Middle East at the forefront of the region ’ s clean energy transition. ”
The second report, “Financing the Green Transformation in the Middle East, ” focuses on how the region is financing the green recovery after the pandemic, noting that governments in the Middle East are well positioned in terms of financing the green economy and how to channel it, and according to the World Bank, government spending as a percentage of GDP is high in many of the countries studied.
With an average of 20% of GDP in the region and as high as 28% in Saudi Arabia, compared to the global average of 17%, the Middle East is also home to some of the world ’ s largest sovereign wealth funds.
Pioneering role
Sabreen Rahman, Managing Director and Head of Sustainability, Europe, Middle East and Africa, HSBC Bank, said: “HSBC is playing a leading role in leading the transition to a carbon-neutral global economy, not only by financing it but by helping shape and influence the global policy agenda.
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Sovereign wealth funds in the region can finance the green economy transition, with HSBC leading the transition to a carbon-neutral global economy.

The region has an opportunity to realign its development to environmentally resilient pathways, with governments able to take actions for significant impact on the clean energy transition.

The economic impact of the energy transition on Middle Eastern economies will be significant, with the potential for job creation, economic growth, and reduced dependence on fossil fuels.

However, the region also faces challenges, including lagging infrastructure and debt, which can affect the development of renewable energy.

Islamic finance can support Middle East renewable energy projects, with the potential for significant investment in the sector.

Overall, the energy transition in the Middle East has the potential to have a significant impact on the region's economy and climate goals, with several countries investing heavily in renewable energy and reducing their dependence on fossil fuels.