Arab News’ Post

Did you know? #Energy experts and ministers from around the world recently gathered at the World Economic Forum’s Special Meeting on Global Collaboration, Growth, and Energy for Development in Riyadh, Saudi Arabia, to discuss pathways to a cleaner energy future. 𝐇𝐞𝐫𝐞 𝐚𝐫𝐞 𝐭𝐡𝐞 𝐤𝐞𝐲 𝐢𝐧𝐬𝐢𝐠𝐡𝐭𝐬 𝐟𝐫𝐨𝐦 𝐭𝐡𝐞 𝐚𝐫𝐭𝐢𝐜𝐥𝐞: ▶ 𝐆𝐥𝐨𝐛𝐚𝐥 𝐂𝐨𝐥𝐥𝐚𝐛𝐨𝐫𝐚𝐭𝐢𝐨𝐧: A successful energy transition requires a worldwide effort. H.R.H. Prince Abdulaziz Bin Salman Bin Abdulaziz Al Saud emphasized that a universal approach is crucial to ensure no one gets left behind. ▶𝐄𝐪𝐮𝐢𝐭𝐚𝐛𝐥𝐞 𝐄𝐧𝐞𝐫𝐠𝐲 𝐀𝐜𝐜𝐞𝐬𝐬: Amani Abou-Zeid highlighted the need for universal energy access, particularly in emerging markets like Africa. The focus on new fuel types like biofuel and hydrogen is vital to meet diverse needs. ▶𝐑𝐞𝐧𝐞𝐰𝐚𝐛𝐥𝐞 𝐄𝐧𝐞𝐫𝐠𝐲 𝐒𝐮𝐜𝐜𝐞𝐬𝐬: Kadri Simson shared Europe's progress in adopting renewables, noting record-breaking wind and solar installations that have reduced gas consumption significantly. ▶𝐂𝐡𝐚𝐥𝐥𝐞𝐧𝐠𝐞𝐬 𝐨𝐟 𝐅𝐢𝐧𝐚𝐧𝐜𝐢𝐧𝐠: Suhail Mohamed Faraj Al Mazrouei underscored the importance of proper financing for renewable energy projects and how a nation's economic stability influences the cost of funding. For a deeper dive, check out the full article here: https://lnkd.in/eVra-a5a

Saudi Arabia And EU Forge Energy Cooperation At World Economic Forum During the World Economic Forum held in Riyadh, HRH the Minister of Energy of Saudi Arabia, Abdulaziz bin Salman Al Saud, engaged in bilateral discussions with European Commissioner for Energy, Kadri Simson. The focus of their meetings revolved around enhancing energy and clean technology cooperation to fortify bilateral relations and advance the objectives set forth by the Paris Agreement and the outcomes of the UAE Consensus reached at COP28 in Dubai the previous year. Both HRH and the Commissioner underscored the shared determination between Saudi Arabia and the EU to expedite private investments in renewable energy. They also emphasized the […] Read the full story here: https://lnkd.in/diyrB7vz #solarenergy #alternativeenergy #solarpv #pvsolar #photovoltaic #cleanenergy #cleantech #climatechange #middleeast #africa #india #asiapacific #asia #europe #europeancommission #middleeast #renewableenergy #saudiarabia

IRENA’s 14th assembly underscores role of geopolitics, urgent need for action: The 14th assembly of the International Renewable Energy Agency (IRENA) last week in Abu Dhabi underscored the centrality of geopolitics and security in the current global energy landscape. The gathering also called for greater action to achieve the COP28 target of tripling renewables deployment by 2030. #CommercialIndustrialPV #Finance #Legal

Europe calls on Gulf to be energy interconnector: Gulf Co-operation Council (GCC) countries can become clean energy hubs  connecting Europe, Asia and Africa, according to European Commission President Ursula von der Leyen. #gasworld #industrialgas

Oman is tackling climate change head-on with policies focused on clean energy transitions. Key among them is Oman Vision 2040, which aims to create a competitive economy, innovative society, responsible governance, and a sustainable environment. The plan targets a rise in renewable energy consumption from 0% in 2015 to 20% by 2030, and up to 39% by 2040. Oman's National Energy Strategy (2020) outlines a concrete path, aiming for 20% renewables in electricity generation and 63% efficiency at gas-fired plants by 2027. However, as renewables like solar and wind are sensitive to climate conditions, the country is focusing on climate risk assessments and resilient technologies to ensure energy security and sustainability. This commitment to renewable energy is crucial for Oman's transition to a low-carbon economy. #OmanClimateWeek #ClimateMitigation #RenewableEnergy #OmanVision2040

#pressrelease #AfricaNewsroom #bizcommunity #publicrelations #africa #southernafrica #southafrica African Energy Week (AEW) Targets Equitable Energy Future with Just Energy Transition Summit - The Just Energy Transition Summit at AEW: Invest in African Energy will...

I'm excited to announce the soft launch of a new research initiative with the Center on Global Energy Policy, the Gulf Renewable Power Tracker. If you know my work, I have been drawn to creating accessible data trackers on Gulf economic diversification, foreign economic intervention (aid, investment and direct support) for a decade. This one is unique, in that it attempts to give a picture of outward Gulf sovereign and SRE investment & development in renewable power generation on a global scale. https://lnkd.in/e3UJFxDm The capacity to develop renewable power projects rests on access to capital, technology and component supply chains, as well as the political initiative to secure off-take agreements with state-owned or controlled utilities across emerging market developing economies. Here the GCC states, and especially state-owned or state-related entities in Saudi Arabia and the United Arab Emirates, are at an advantage. The Gulf states are not only attracting investment in clean energy but also seek to become development players themselves, using their sovereign funds and state-owned energy firms to invest aggressively in renewable energy and carbon-intense projects in the region and beyond. The funding gap between need and investment in clean energy in the developing world is massive. Gulf states are positioning themselves to help fill that gap. Gulf states typically invest in high-growth, high-population areas that will likely need more energy from the Gulf in the future—not only oil and gas but also electricity. The Gulf states and their renewable energy firms and investment vehicles have the capacity and the interest to shape the direction and pace of the energy transition across the wider Middle East and a growing geography of emerging market developing economies, each reliant on investment and financial intervention from the Gulf states, along with more traditional forms of infrastructure investment and aid. Owning, operating and controlling a country’s power production is a mighty—and durable—political tool, as typical power projects are financed for as long as 30 years. Transitioning to renewable energy can lower the price of reliable electricity, allowing people and commerce to thrive as long as investors ensure that the projects they back meet standards of transparency and accountability. This research initiative has three aims in its data visualizations and subsequent analytical output: First, it tracks the deployment of renewable power projects on a global scale that are led by Gulf state-backed entities; Second, it seeks to analyze the pace and structure of renewable energy development inside of the Gulf states; Third, it brings together consideration the geopolitics of emerging partnerships in investment, manufacturing and technology transfer in renewable energy between the Gulf and China. Special thanks to: Alice Baudin, Megren Almutairi, Rawan Alfehaid and Kyu Lee

UAE-Austria Ministerial Meeting Spotlights Renewable Energy Cooperation The Minister of Industry and Advanced Technology, HE Dr. Sultan bin Ahmed Al Jaber, engaged in constructive discussions with Austrian counterparts during a significant meeting in Vienna. The meeting, attended by HE Karl Nehammer, Chancellor of the Republic of Austria, and other high-ranking officials, aimed to strengthen collaboration in various sectors, including renewable energy and advanced technology. Dr. Al Jaber conveyed the UAE leadership’s eagerness to enhance cooperation with Austria, emphasizing the longstanding and robust bilateral relations spanning over five decades. He highlighted the Comprehensive Strategic Partnership announced in 2021 as a significant milestone and stressed the importance of expanding […] Read the full story here: https://lnkd.in/ddaw3C6R #solarenergy #alternativeenergy #solarpv #pvsolar #photovoltaic #cleanenergy #cleantech #climatechange #middleeast #africa #india #asiapacific #asia #austria #europe #middleeast #renewableenergy #uae #unitedarabemirates

Significant investments are needed to unlock the potential 1,400 gigawatts of offshore wind in the Middle East and North Africa. In its latest report, the World Wind Energy Council said Saudi Arabia, Morocco, Egypt and Oman could lead the way in developing this sector, which is still at a nascent stage as offshore activities in the region are mainly related to oil and gas. For more information: https://lnkd.in/ds2t2UkX #sustainability #sustainable #climatechange #environment #climate #climatecrisis #eco #renewableenergy #renewablepower #cleanenergyfuture #ces #power #Council #investments

RIYADH: Saudi Arabia has signed a joint executive program with Azerbaijan, Uzbekistan, and Kazakhstan to strengthen collaboration on renewable energy development and transmission. The deal was signed on the sidelines of the 29th UN Climate Summit in Baku by Saudi Energy Minister Prince Abdulaziz bin Salman and his counterparts from the three nations, according to a press statement. The initiative aims to foster a strategic partnership to assess regional power grid interconnection projects centered on renewable power. Saudi Arabia, a leader in Middle Eastern clean energy, aims to meet 50 percent of its power needs from renewable sources by 2030. “This signing is in implementation of bilateral memorandums of understanding previously signed between Saudi Arabia and Kazakhstan in the energy sector on Jun 12, 2023, as well as two energy cooperation agreements with Azerbaijan on May 24, 2023, and with the Republic of Uzbekistan on Aug. 17, 2022,” noted the Ministry of Energy. #cop29 #saudiarabia #kazakhstan #azerbaijan #uzbekistan #unclimatesummit #renewableenergy #regionalcooperation #regionalpowergrid #interconnection #worldgridproject