GCC leading the way with new solar projects totalling £155 billion
Gulf Cooperation Council countries including Saudi Arabia and UAE spearheading significant investment in solar plants to be completed by 2017
The six Gulf Cooperation Council (GCC) countries' commitment to the construction of new solar projects has intensified this year with investments now exceeding $155 billion.
The United Arab Emirates and Saudi Arabia are leading the way with investment in ongoing projects and the plants are due for completion by 2017.
Organizers of Gulf Sol 2013 affirmed that the plants will generate more than 84 GW of power, noting that, “the conference, which will be attended by Gulf officials and workers in the energy sector, will address some of the main challenges related to the deployment of energy projects in desert terrain.”
The Emirates Solar Industry Association (ESIA) has noted, “Saudi Arabia, Jordan, the United Arab Emirates, Kuwait, Morocco and Jordan are the key countries that will implement solar power projects.”
"The economics of switching to solar energy in the Middle East are a lot better than those in South Africa, India, Brazil, China and the United States. With oil prices increasing and solar technology costs plummeting, it is time for governments in the Middle East to turn talk into action," said Marc Norman, director of ESIA.
Gulf Sol 2013 was held at a time when Abu Dhabi has set a goal of generating 7% of its electricity from renewable sources by 2020. Additionally, the state-owned renewable energy company, Masdar, has announced that it will invest up to 6 billion dirhams ($1.3 billion) in alternative energy schemes, alongside the UK's Green Investment Bank (GIB).
In this regard, Saudi Arabia is deemed the most ambitious, as it is working on doubling its installed electricity capacity by building 54 GW of renewable energy, as well as 17.6 GW of nuclear power. Currently, Riyadh boasts the world's largest solar thermal plant at 36,300 square meters.
The region is witnessing another major project, Dubai's Mohammed bin Rashid Al Maktoum Solar Park, which aims to generate 1 GW of PV [photovoltaic] and CSP [concentrated solar power] by 2030. The $3.2 billion, 48-square-kilometer park is the fruit of the personal vision of UAE Prime Minister Sheikh Mohammed Bin Rashid Al Maktoum.
