Some $250 billion worth of power projects in the Middle East and North Africa (Mena) region will undergo a transition from fossil fuels to renewables and clean nuclear, officials and experts said.
The MENA region is expected to add 5.6 GW of renewable energy capacity in 2022, almost as much as 2021, they said at the two-day Mena Power Projects 2022 conference at the Conrad Hotel in Abu Dhabi on September 7. double the 3GW brought online in 2019. Etihad Towers, UAE.
The region is expected to add 33 GW of installed renewable energy capacity by 2026, with utilities and distributed solar PV generating around 26 GW, according to a new report released by Arab Petroleum Investments Corporation (Apicorp).
More than 200 delegates
Over 200 representatives including senior government officials, project owners, project management professionals, project developers, contractors, subcontractors, technology suppliers, utility suppliers, industry experts and key stakeholders attended the event activity.
The UAE is at the forefront of the energy transition from fossil fuels to renewables and a green hydrogen ecosystem, officials said.
“The UAE’s Energy Strategy 2050 has clear goals: to increase the share of clean energy in the total energy mix to 50% by 2050; to reduce the carbon footprint of electricity generation by 70% and to increase consumption efficiency by 40% for all users,” Yousif Ahmed Al Ali, Assistant Under-Secretary for Water, Power and Future Energy at the UAE Ministry of Energy and Infrastructure, told delegates.
“Over the next decade, the UAE will focus on driving clean electrification through solar and nuclear energy, implementing transparent policies, improving energy efficiency, reducing methane emissions and driving innovation in the commercialization of hydrogen, while developing strategies to support the flow of clean energy sources Transform and ensure reliability and affordability.”
He said the UAE government supports the UAE’s national agenda and the development of the power and water sector by launching a strategic project for the transformation of the sector, nuclear energy, a pioneering initiative in the Middle East, leading the region’s first large-scale solar photovoltaic power plant, The first solar thermal, battery energy storage, hydroelectric energy storage, waste-to-energy, etc.
More than 300 million electric vehicles (EVs) will be in use in the Arab world by 2040, said Mohammed Al Taani, secretary-general of the Arab Renewable Energy Council.
Hydrogen and Electric Vehicles
“The Arab world will invest $700 billion in the renewable energy transition from 2020 to 2050, with the goal of generating more than 70 gigawatts of electricity from renewables by 2050,” he said. “Hydrogen and electric vehicles will account for 300 million vehicles by 2040, and more than 60 percent of all vehicles in service by 2050.”
According to the Pan Arab Clean Energy (PACE) initiative of the International Renewable Energy Agency (IRENA), the Arab world is committed to increasing renewable energy generation to 80 GW by 2030, which will lead to a large number of renewable energy projects. Online in the next few years.
According to Apicorp, total investment in the MENA power sector will exceed $250 billion, the highest of any energy sector. Of these, Saudi Arabia is developing power projects worth nearly $60 billion, followed by Egypt, with $37 billion worth of power projects under development, state data show.
9 top power projects in the UAE
Nine of the current top 25 power projects in the MENA region are in the UAE. The UAE ranks third in terms of project value, with $26 billion worth of power projects under planning and development.
According to a new report from the International Energy Agency (IEA), global energy investment will grow by 8% to $2.4 trillion by 2022, with the growth expected to come mostly from clean energy.
“Investment has increased across all segments of the energy industry, but the main drivers in recent years have come from the power sector – primarily renewables and the grid – and increased end-use efficiency spending,” the IEA said in the report.
“Clean energy investment is finally starting to pick up, and is expected to exceed $1.4 trillion by 2022, accounting for nearly three-quarters of overall energy investment growth.”
Total energy bills paid by consumers around the world could top $10 trillion for the first time in 2022 due to high fuel costs, the report said.
According to a report by research firm BloombergNEF (Bnef), global investment in the renewable energy sector grew by 11% to $226 billion in the first half of 2022, driven by rising energy prices. Investment in new large and small solar projects rose 33 percent to a record $120 billion, while wind energy project financing rose 16 percent to $84 billion, the report said.
Mena Power Projects 2022 aims to foster innovation and diversification for the energy transition, discuss the development of clean, green and renewable energy, and secure more business in this sector. Delegates at the Forum will hear from more than 40 experts on a wide range of topics.
On the first day, the MENA Power Project Forum discussed topics including improving generator efficiency, wind power, nuclear power projects, retrofitting power plants with new technologies, MENA energy future, electricity energy needs, clean energy strategies and implementation plans, new project announcements and Latest power project updates and more.
The first panel discussion was on the future of electricity and energy in the MENA region and included Faiza Al Harthi, Head of Energy Sector, and Fawaz Al Muharrami, Executive Director, Masdar Clean Energy, Consultant Shuvendu Bose, UAE Ministry of Energy and Infrastructure, Mohammed Al Taani, Secretary General of Arab Renewable Energy Council, Vice Chairman of Jordan Renewable Energy Association, Professor Galal Osman, Vice Chairman and Founder of World Wind Energy Association, Chairman of Egyptian Wind Energy Egyptian Energy Association discussed the Middle East and North Africa The region’s energy vision and goals, the region’s power sector and the key factors behind it, opportunities in the local market, and strategies to overcome labor shortage challenges, etc.
second panel discussion
The second panel discussion of the day was on the topic “Improving Transmission and Distribution Efficiency in the Region” and was moderated by a senior executive from EOSOL. Panelists Dr. Bruce Stedall, Director, Asset Management, Transmission and Dispatch Company (Transco), Abu Dhabi, Mayure Daby, Head of Net Zero Energy Middle East, Atkins, Shaikh Sahid Hossain, Senior Vice President and Global Director, Product and Strategy, ETAP Ahmed Awad Al Saeedi, Head of OHL Division, Al Ain Power Distribution Company, discussed addressing extreme weather challenges, enhancing cyber resilience, exploring top solutions to enhance grid stability, connecting renewable energy, leveraging innovative automation, and more.
Faisal Ali Rashid, Senior Director, Demand Side Management, UAE Supreme Energy Council, gave an exclusive presentation on “Dubai’s approach to a clean energy strategy and implementation plan for 2030 and 2050”, followed by UAE country briefings, Oman and Egypt and project spotlights .
For the third panel discussion of the day, “Nuclear Power in the MENA Region – Opportunities and Challenges”, Sara Rashad Al Saadi, Director of Nuclear Safety, Federal Nuclear Regulatory Authority, FANR, David Haboubi, Head of Nuclear and Net Zero Energy, Middle East and Africa, Atkins SNC-Lavalin and Dr. Rahaf Ajaj, Assistant Professor, Faculty of Health Sciences, Abu Dhabi University, were part of the team. The panel was moderated by Imteyaz Ahmad, Managing Director of Power and Water at Future Water and Power Consultants (FWPC). Panelists emphasized exploring new nuclear power plant projects and opportunities in the region.
After the panel discussion, Professor Galal Osman, Vice Chairman and Founder of the World Wind Energy Association and President of the Egyptian Wind Energy Association, gave an exclusive presentation on “Wind Power in the Middle East and North Africa”.
The MENA Power Projects Forum will conclude with a closing remarks by Frank Wouters, Event Chair, Senior Vice President of Reliance Industries Ltd. and Director of the EU-GCC Clean Energy Network, followed by a networking lunch break.
The official wind turbine partner for the event is Envision and the official decarbonization partner is Emerson. The exhibitor is NL acoustics, and the strategic partners are PGESCO, MOTWANE, OZEE Energy, and ETAP. — arab trade news agency