June, 2024

Dubai in top 3 Middle East growth markets for solar industry

DUBAI- EnPark, the TECOM Business Park facilitating the growth of Energy and Environment businesses in the MENA Region, and the Middle East Solar Industry Association (MESIA) hosted a business breakfast with industry leaders in the solar energy industry.

MESIA is the largest solar association in the Middle East designed to expand the use of solar power in the region, strengthen the local solar industry, and to facilitate business opportunities for its members.

During a presentation at the event, president of MESIA Vahid Fotuhi stated that although the MENA region has more than 16,500MW of renewable capacity, the vast majority of this is in the form of hydropower.

Fotuhi expanded on by citing the growth potential of solar in the Middle East, with Saudi Arabia being the biggest market, with an ambitious target of 23,900MW of renewable capacity planned by 2020, of this at least 10,000MW will be in the form of solar energy.

Jordan was cited as the second largest opportunity because due to its limited hydrocarbon resources. The country is focused on ensuring that 10% of its overall consumption to be powered by renewable energy by 2020.

Dubai has positioned itself as a market of huge potential, with the Dubai Integrated Energy Strategy 2030 aiming to increase Dubai’s solar consumption to 5% of the total power consumed. Dubai Electricity and Water Authority (DEWA) recently opened the tender for the second phase of Mohammad Bin Rashid Al Maktoum Solar Park, the 1,000MW project worth Dh1 billion, bolstering its placement as a MENA solar growth market.

Marwan Abdulaziz, Executive Director of TECOM Investment’s Science cluster that includes EnPark, the freezone facilitating the growth of the energy and environment sector in the Middle East said “Within the solar industry, it is important to work together. At EnPark, we strive to support our business partners achieve their business objectives by providing tailored real estate and support to achieve the goals of Dubai Integrated Energy Strategy. By 2030, the Emirate aims to increase solar energy to include 5% of the total power consumed to enhance the alternative energy and environmental industry and Dubai’s green economy.”

Please follow and like us:
Pin Share
Follow by Email

Discover more from Gulf Daily Mail

Subscribe now to keep reading and get access to the full archive.

Continue reading