The UAE renewable energy market is projected to exhibit a growth rate (CAGR) of 11.20% during 2024-2032, a latest report from Imarc said. It said that the implementation of various government initiatives, including Vision 2021 and Energy Strategy 2050, abundant solar resources, technological advancements in solar photovoltaic (PV) and wind energy, competitive bidding processes, supportive regulatory frameworks, and rising consumer awareness are some of the factors creating a positive outlook for the market. Government Initiatives and Policies: The UAE government has introduced vigorous programs and policies to open up new sectors of its energy mix and reduce reliance on fossil fuels.…
Author: Saur News Bureau
By Marc Thiriet, Director, Africa, Wärtsilä Energy It is no longer disputed that solar and wind power will be the foundation of Africa’s future energy systems. They are perfectly suited to the continent’s unique conditions and are already the most cost-competitive power option in almost all cases. This consensus spans academia, businesses, and policymakers who all recognize the potential of renewable energy to meet Africa’s growing needs sustainably. They also readily acknowledge the intermittent nature of renewables, and the associated need for flexible power capacity within the electricity networks to ensure safe and steady supply. It’s a good start. But…
Saeed Mohammed Al Tayer, MD & CEO of Dubai Electricity and Water Authority (DEWA), received Joakim Larsen Consul General of the Kingdom of Denmark in Dubai, at DEWA headquarters in Dubai. The meeting underscored the ongoing collaboration between DEWA and Danish companies in the fields of renewable energy, sustainability, and advanced technology. The meeting also reaffirmed the shared vision between the two parties for a sustainable future and their commitment to driving innovation in clean energy. By leveraging Denmark’s advanced technologies and DEWA’s strategic initiatives, significant progress in sustainable development goals can be achieved The meeting was attended by Waleed…
With the clock ticking towards this year’s U.N. climate summit, nations are at odds over the size and distribution of a global funding package aimed at aiding the developing world in combating climate change. The upcoming COP29 climate talks in Azerbaijan in November are poised to be dominated by discussions on a new annual financing target. Nearly 200 countries must agree on this target to assist poorer nations in reducing emissions and fortifying their societies against the intensifying impacts of climate change. Replacing the previously pledged yearly $100 billion from 2020, which was fulfilled two years behind schedule, remains a…
A latest report from the International Energy Agency (IEA) said that the growth and utilisation of renewable energy could make a dent on the oil expansion plans of countries like Saudi Arabia. The report said that several countries like Saudi Arabia and Iraq may see reduced usage of oil in the generation of power. “The displacement of oil used in electricity generation will also play a major role in shifting global demand to a plateau. In particular, Saudi Arabia has plans that would see about 1 mb/d cut from direct crude, fuel oil and gasoil use in power plants by…
A recent report from the International Energy Agency (IEA) claimed the investments in renewable energy has increased in the Middle East. However it lamented that oil and gas continue to dominate its energy mix. The report said that Middle East is home to five of the world’s top oil producers: Saudi Arabia, Iraq, the United Arab Emirates (UAE), Iran, and Kuwait. Moreover, it plays a significant role as a producer of natural gas, with three of the world’s top ten producers being Iran, Qatar, and the UAE. “For the moment, spending on fossil fuel supply predominates: for every 1 USD…
COP28 President Dr. Sultan Al Jaber today told delegates at the opening of the Baku Energy Week that all stakeholders need to leverage the rise of Artificial Intelligence (AI), the energy transition and the growth of the Global South to accelerate climate positive sustainable development for all. Dr. Al Jaber also called on the energy and technology sectors to work more closely together on accelerating the adoption of AI to sustainably meet the world’s growing energy demand and drive decarbonization. “While AI is driving a surge in energy demand, it is also driving efficiencies that curb emissions. In fact, the…
Sungrow, the global leading PV inverter and energy storage system provider, has forged a strategic partnership with Larsen & Toubro to supply 165MW PV inverters and 160MW/760MWh energy storage systems for AMAALA, a prestigious destination in Saudi Arabia. This collaboration aligns with Saudi Arabia’s Vision 2030 and China’s Belt and Road Initiative. This flagship project is developed and led by EDF Group, the leading French utility company specialized in low carbon electricity generation with over 91% of its own production free of CO2 emissions, and Abu Dhabi Future Energy Company (Masdar), for the client Red Sea Global. Upon completion in 2027, the AMAALA destination…
Larsen & Toubro’s (L&T) renewable Engineering, Procurement and Construction (EPC) arm for the power transmission & distribution business has been chosen as the EPC contractor for a solar project. This project is undertaken to establish an 1800 MWac Solar Photovoltaic Plant in Dubai, United Arab Emirates. L&T stated in its announcement, “The project is the sixth phase of the ‘Mohammed bin Rashid Al Maktoum Solar Park’, Dubai, United Arab Emirates (UAE). This plant claims to reduce around 2.4 million tons of carbon emissions annually.” It further explained, “The project is spread over 20 sq km, and the project is estimated…
The Saudi Power Procurement Company (SPPC), responsible for the competitive tendering of renewable and conventional energy projects in Saudi Arabia, has entered into an agreement for 400 MW capacity with Tabarjal Solar PV project. This agreement comes as part of Round 4 of the National Renewable Energy Program (NREP). The Power Purchase Agreement was inked with a Jinko Power-led consortium. Sun Glare Holding Co. and Sunlight Energy Holding Co. are other firms of the consortium. The project is expected to supply power to 75,000 homes every year and boasts a Levelized Cost of Electricity (LCOE) at 1.70795 USDc/kWh (6.40482 halalas/kWh). The…