ABU DHABI // A global renewable energy body has released a report claiming that the clean energy sector in the Middle East and North Africa will grow 60-fold by 2030.
The findings were presented at a meeting between the International Renewable Energy Agency (Irena), the Ministry of Foreign Affairs and the Renewable Energy Policy Network for the 21st Century (Ren21) in Abu Dhabi yesterday evening.
Factors that have already contributed to the "massive" potential growth include regional investment that topped US$2.9 billion (Dh10.6bn) in 2012, up 40 per cent from the previous year and 650 per cent since 2004.
"From Irena's headquarters in Abu Dhabi, we have been uniquely placed to witness renewable energy become a multi-billion dollar industry within the Mena region," said Adnan Amin, the director general of Irena. He said that modern renewable energy production is growing at a much faster rate than fossil fuels, which showed the regional appetite for change.
"The Mena Renewables Status Report provides unparalleled insights into the region, an emerging renewable energy champion. In just the last two years, renewable energy has transformed from a niche interest to a regional phenomenon reaching almost US$3bn in investment in 2012 alone," said Arthouros Zervos, chair of Ren21.
The report highlighted that all 21 Mena countries had renewable energy policy targets, up from five in 2007.
In addition, the report said that 18 countries enacted at least one renewable energy enabling policy by the start of this year.
The report also stated that the UAE still lacked a unified federal energy policy and, at present, is still more focused on investing in overseas manufacturing than developing local industry.
"This report demonstrates that the Mena region is rapidly taking a prominent role in accelerating the adoption of renewable energy," said Dr Sultan Ahmed Al Jaber, the minister of state and chief executive of Masdar, the country's primary green energy company.
"The UAE is committed to investing in renewable energy and has a goal of diversifying its energy sources while capitalising on the economic and social opportunities those investment present."
Dr Al Jaber highlighted the importance of the recently inaugurated Shams 1 solar power plant, which can generate 100 megawatts of clean energy.
"With our experience domestically and internationally, we look forward to contributing to the renewable energy sector's growth in the Mena region," he said.
Across the Mena region, there are more than 100 renewable energy projects, with a capacity of 7.5 gigawatts. Wind energy accounts for 1.1 gigawatts of that total.
Solar power generation is having rapid deployment, with an average growth rate of 112 per cent between 2008 and 2011. Further advances in the technology are expected across Algeria, Egypt, Iran, Morocco and the UAE in coming years.
ksinclair@thenational.ae
F1 The Movie
Starring: Brad Pitt, Damson Idris, Kerry Condon, Javier Bardem
Director: Joseph Kosinski
Rating: 4/5
Conflict, drought, famine
Estimates of the number of deaths caused by the famine range from 400,000 to 1 million, according to a document prepared for the UK House of Lords in 2024.
It has been claimed that the policies of the Ethiopian government, which took control after deposing Emperor Haile Selassie in a military-led revolution in 1974, contributed to the scale of the famine.
Dr Miriam Bradley, senior lecturer in humanitarian studies at the University of Manchester, has argued that, by the early 1980s, “several government policies combined to cause, rather than prevent, a famine which lasted from 1983 to 1985. Mengistu’s government imposed Stalinist-model agricultural policies involving forced collectivisation and villagisation [relocation of communities into planned villages].
The West became aware of the catastrophe through a series of BBC News reports by journalist Michael Buerk in October 1984 describing a “biblical famine” and containing graphic images of thousands of people, including children, facing starvation.
Band Aid
Bob Geldof, singer with the Irish rock group The Boomtown Rats, formed Band Aid in response to the horrific images shown in the news broadcasts.
With Midge Ure of the band Ultravox, he wrote the hit charity single Do They Know it’s Christmas in December 1984, featuring a string of high-profile musicians.
Following the single’s success, the idea to stage a rock concert evolved.
Live Aid was a series of simultaneous concerts that took place at Wembley Stadium in London, John F Kennedy Stadium in Philadelphia, the US, and at various other venues across the world.
The combined event was broadcast to an estimated worldwide audience of 1.5 billion.
UAE currency: the story behind the money in your pockets
In-demand jobs and monthly salaries
- Technology expert in robotics and automation: Dh20,000 to Dh40,000
- Energy engineer: Dh25,000 to Dh30,000
- Production engineer: Dh30,000 to Dh40,000
- Data-driven supply chain management professional: Dh30,000 to Dh50,000
- HR leader: Dh40,000 to Dh60,000
- Engineering leader: Dh30,000 to Dh55,000
- Project manager: Dh55,000 to Dh65,000
- Senior reservoir engineer: Dh40,000 to Dh55,000
- Senior drilling engineer: Dh38,000 to Dh46,000
- Senior process engineer: Dh28,000 to Dh38,000
- Senior maintenance engineer: Dh22,000 to Dh34,000
- Field engineer: Dh6,500 to Dh7,500
- Field supervisor: Dh9,000 to Dh12,000
- Field operator: Dh5,000 to Dh7,000
Killing of Qassem Suleimani
COMPANY%20PROFILE
%3Cp%3E%3Cstrong%3ECompany%20name%3C%2Fstrong%3E%3A%20ASI%20(formerly%20DigestAI)%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStarted%3A%3C%2Fstrong%3E%202017%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EFounders%3A%3C%2Fstrong%3E%20Quddus%20Pativada%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20Dubai%2C%20UAE%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EIndustry%3A%3C%2Fstrong%3E%20Artificial%20intelligence%2C%20education%20technology%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EFunding%3A%3C%2Fstrong%3E%20%243%20million-plus%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EInvestors%3A%3C%2Fstrong%3E%20GSV%20Ventures%2C%20Character%2C%20Mark%20Cuban%3C%2Fp%3E%0A
Europe’s rearming plan
- Suspend strict budget rules to allow member countries to step up defence spending
- Create new "instrument" providing €150 billion of loans to member countries for defence investment
- Use the existing EU budget to direct more funds towards defence-related investment
- Engage the bloc's European Investment Bank to drop limits on lending to defence firms
- Create a savings and investments union to help companies access capital
Global state-owned investor ranking by size
|
1.
|
United States
|
|
2.
|
China
|
|
3.
|
UAE
|
|
4.
|
Japan
|
|
5
|
Norway
|
|
6.
|
Canada
|
|
7.
|
Singapore
|
|
8.
|
Australia
|
|
9.
|
Saudi Arabia
|
|
10.
|
South Korea
|
GAC GS8 Specs
Engine: 2.0-litre 4cyl turbo
Power: 248hp at 5,200rpm
Torque: 400Nm at 1,750-4,000rpm
Transmission: 8-speed auto
Fuel consumption: 9.1L/100km
On sale: Now
Price: From Dh149,900
Our family matters legal consultant
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
The advice provided in our columns does not constitute legal advice and is provided for information only. Readers are encouraged to seek independent legal advice.
