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UAE strives to get ahead with renewable energy
Just over one month ago, Dubai ruler HH Sheikh Mohammed bin Rashid Al Maktoum launched the UAE's green economy strategy, pitching to be a world leader for sustainable energy, agriculture, investment and transport, in addition to environmental policies. This initiative arrived simultaneously with the launch of a new Dubai solar park. However, Edward Bell, Middle East and North Africa Analyst for the Economist Intelligence Unit, gave AMEinfo.com an alternative perspective, expressing a view that Gulf countries are not expressing 'strong interest' in renewables:
"The Middle East renewables market is one of two halves. There still doesn't appear to be much strong interest in developing renewable energy in the energy resource rich countries in the Gulf as they maintain investment in oil and gas and fuel intensive infrastructure projects," says Bell, who also points to more pressing energy issues in the wider Arab world.
"However, for countries in North Africa, real leg work has been done to make a dent in some countries' energy deficits. Morocco is committed to spending up to $9bn on renewable energy. Algeria too has expressed some interest in developing renewables to allow more hydrocarbons for export."
Since oil replaced gold as the real must-have commodity, there has been a marked distinction between the haves and have-nots, but renewable resources could be an increasingly significant factor in redressing that balance. Non oil-rich states have the opportunity to exploit space and sunshine for solar energy projects, though as current trends indicate, those with the available capital are steaming ahead.
Gulf countries respond to growing power demands
The GCC will require an additional 100GW of power over the next decade, according to the World Energy Council, who estimate that $50bn worth of investment will be required to counter the demand, though energy investments surpass that figure. Overall energy spending in the region is set to tip $180bn over the next few years.
Saudi Arabia alone is investing $100bn into the King Abdullah City of Atomic and Renewable Energy, due to begin construction in 2013, with another 15 projects in the works totalling $9bn. The UAE is also expanding investing in 20 energy projects to the tune of $34.2bn, investing heavily into their solar park project, though $20bn out of that total sum is dedicated to Abu Dhabi's nuclear power plant, in construction since last year.
Steven Bond, Reporter
