Welcome To Trade Directory Blog

Increasing Trends in Renewable in the Middle East



When it comes to energy, Middle East is considered to be the energy corridor, and this is because of the fact that most of the world’s oil is extracted from this region. Countries from different parts of the world purchase oil from the Middle East, as they find it the best and the only source to run their large industries. Even after being the world’s largest oil exporter, from the past two decades it has been observed that Middle East itself is moving towards renewable forms of energy, as they find it cheaper and much cleaner as compared to the energy that is generated from oil.

Normally there are three forms of renewable energies which are being used in Middle East on small as well as on large scale, these include:

  1. Solar Energy
  2. Wind Energy
  3. Hydro Energy



Mena

Mena (Middle Eastern & Northern African) countries are last in the race for making investments for renewable energy systems. In 2011, the total investment for renewable energy systems was $257 which is an all time high. However, the Mena countries contributed only 2.1% to the overall investment. According to the report by Global Trends in Renewable Energy Investment, the Mena region remains to be the least investing region for renewable energies. However, the trend of renewable energy systems is increasing in the Middle Eastern countries.

The Middle Eastern Countries

Abu Dhabi and UAE desert region has a solar energy system spread over 300 football fields of area. This project is expected to provide power to more than 20,000 homes with over 100 megawatt electricity production.

Abu Dhabi plans to produce 7% of its electricity through renewable energies by 2020. A senior official stated that “Abu Dhabi wants to become a technology player instead of being an energy player”.

Advertisment

Qatar and Egypt are making huge efforts in order to be able to produce 20% of their energy from renewables. These countries expect this plan to be completed by 2020.

Algeria expects to produce 22,000 megawatts from renewable energies by 2030.

Saudi Arabia has a target of producing 10% of its energy from renewables by 2020.

Kuwait has announced its aim to produce 15% of its energy from renewable sources by 2030.

Qatar is making extravagant efforts to utilize renewable energy sources for the energy production. Chevron Qatar and Qatar Science and Technology Park inducted a testing facility for solar energy. 35,000 square meter area will be used to identify which types of solar systems are most suitable for the region by keeping several factors under consideration such as humidity, dust and heat.

The rapidly increasing investments of renewable energies give the indication of this trend to continue in the future. By the end of 2020, the renewable energies investment is expected to reach $395 billion and by 2030 the investments are expected to reach $460 billion according to Bloomberg New Energy Finance. Middle Eastern countries seem to follow the trend now as they realize the importance of renewable energies. The recent 38th edition of Middle East Electricity is reported to have hosted more than 56 countries and 1000 exhibitors.

 



This entry was posted in Industries, Regional Economies and tagged , , , , , , , , , . Bookmark the permalink.


Comments are closed.

Copyright © 2010 - 2018 TradeDirectory.com - All Rights Reserved.
 About SSL Certificates