The Middle East will become a market leader in renewable and clean energy

According to a report from the Arab Trade News Agency in Dubai on May 3, 2021, the Middle East will become a market leader in renewable energy and clean energy due to well-designed auctions, favorable financing conditions and declining technology costs.

Research from the Informa market shows that in the next 20 years, the Middle East and North Africa plans to have 83 GW of renewable energy and clean energy production capacity, mainly solar power and wind power, exceeding 55 billion UAE dirhams (14.

In this context, renewable energy and clean energy will become the theme of the first Virtual Focus Week of Middle East Energy.

Claudia Konisena, director of Middle East Energy Corporation, said: "We expect that in the next five years, renewable and clean energy will account for 34% of the total investment in the power industry in the Middle East.

Konigsena said: “Of course, as the demand for new power capacity in the Middle East continues to increase, one of the hot topics discussed is renewable energy and clean energy, and how countries can promote initiatives in this area.

Among the Gulf Cooperation Council countries, the UAE is still in a leading position in energy transition thanks to a strong development pipeline.

In Dubai, the fourth and fifth phases of the Mohammed bin Rashid Al Maktoum (MBR) solar facility are under development.

Putting these data together, 1GW is equal to 3.

The survey results show that revenue from renewable energy and clean energy is expected to increase from 675 billion UAE dirhams in 2020 to 829 billion UAE dirhams in 2021, a year-on-year increase of 22%.

Conisena added: “Based on these findings, we have developed a meeting plan as part of our three-day virtual meeting, providing opportunities to discuss, debate and learn more about the impact of renewable and clean energy on the oil industry.

Ian Williamson, Chief Project Delivery Officer of Red Sea Utilities, said: "We will be able to prove that even a tourist destination of this size can be 100% powered by renewable energy.

He added: "Our initial ambition was to provide 100% renewable energy for the Red Sea project, and we are achieving this goal.

The theme of the first day of the first virtual focus week of the Middle East Energy will include "realizing the potential of green hydrogen-this will be a game changer in the energy transition"; on the second day, the main topic of the conference will be "net zero competition: how companies Transition to the'new energy' model".

Key Industry Week is the first in a four-week series of online events held by Middle East Energy Corporation from May 17 to June 9, 2021, which mainly include: renewable energy and clean energy, transmission and distribution, criticality and backup Electricity and energy consumption and management.

Li Jun compiled from Arab Trade News Agency

The original text is as follows:

Middle East to become a market leader in renewable and clean energy

The Middle East is set to become a market leader in renewable and clean energy due to well-designed auctions, favourable financing conditions, and declining technology costs, all contributing to bringing renewables into the mainstream.

　　Research from Informa Markets revealed 83 GW of renewable and clean energy capacity, mainly solar and wind power, is planned across the Middle East and North Africa (Mena) region within the next 20 years, and more than AED55 billion ($14.

　　Against this backdrop, renewable and clean Energy will debut as the theme for Middle East Energy's inaugural virtual focus week on May 17, 2021.

　　Claudia Konieczna, Exhibition Director, Middle East Energy, said: “We expect renewable and clean energy to account for 34% of total power sector investments across the Mena region in the next five years.

　　"Naturally, with the demand for new power capacity increasing in the region, one of the hot topics of discussion is renewable and clean energy and how countries are advancing initiatives in this sector.
Creating dialogue on this subject is paramount to supporting Middle East Energy's attendees in all future decision-making processes.
"

　　In the GCC, the UAE remains a leader in energy transition thanks to a robust pipeline of developments.
These include the 2GW Al Dhafra solar power project in Abu Dhabi, which will eventually power 160,000 homes, and the 1.
5GW PV3 project, also in the capital.

　　In Dubai, the fourth and fifth phases of the Mohammed bin Rashid Al Maktoum (MBR) solar facility are under development.
Once completed, the MBR plant will be the world's largest single-site solar installation, with a planned total capacity of 5GW when fully operational by 2030.

　　Putting those figures in context, 1GW is equal to 3.
125 million photovoltaic panels.
The importance of the renewables and clean sector, and the anticipated growth, was recently underscored in the report “Covid-19 Impact on Renewable Energy Market – Global Forecast to 2021” .

　　The findings revealed revenue generated from renewable and clean energy is expected to increase from AED675 billion in 2020 to AED829 billion in 2021, representing a 22% increase.

　　“In line with these findings, we have developed a conference programme which provides the opportunity to discuss, debate and learn more about the impact renewable and clean energy will have on the sector as part of our virtual three-day conference,” added Konieczna.

　　Ian Williamson, Chief Project Delivery, Red Sea Utilities said: “We will be able to evidence that tourist destinations, even at this scale, can be 100% powered by renewable energy.
Eventually, nations will have their energy grids powered from renewables and nuclear , but in the meantime, we can achieve 100% renewable energy for The Red Sea project while staying'off grid.
"

　　"We started with the ambition of having 100% renewable energy sources for The Red Sea project, and we are delivering on it," he added.

　　Topics on day one include'Realising the potential of green hydrogen – will this be the game-changer for the energy transition';.
On day two, leading the agenda will be'Race to net-zero: How will the corporates transition towards the 'New Energy' scenario';.
On the final day,'Exploring the opportunities around growing wind sector, in potential regions of UK, Africa, Asia and the Middle East', will take centre stage.

　　The focused sector week is the first of a four-week series of online events brought by Middle East Energy from May 17 until June 9, 2021, featuring: Renewable & Clean Energy, Transmission & Distribution, Critical & Backup Power and Energy Consumption & Management .