His Highness Sheikh Ahmed bin Saeed Al Maktoum, President of Dubai Civil Aviation Authority, today opened the 45th edition of Middle East Energy, previously known as Middle East Electricity, the global energy platform running until 5 March at Dubai World Trade Centre (DWTC).
Touring the exhibition, HH Sheikh Ahmed explored the latest technology breakthroughs and solutions being displayed by more than 1,100 local, regional and international exhibitors feeding global energy industry innovative in major transformation.
With global energy consumption set to double by 2050, according to the Energy & Utilities Market Outlook Report 2020 by Informa Markets, organiser of Middle East Energy, the 2020 show is championing companies from more than 130 countries that are rising to the dual challenges of meeting rising energy demand and paying greater attention to low-carbon systems.
Setting the tone for three days of industry-defining discussion, debate and deal-making, a high-profile plenary session titled ‘Energy in Transition, Connecting the World: Demand, Digitalisation and Diversification’, explored how regional power sector players are primed to take a global lead in decarbonisation and greater industry-wide integration.
“Currently, there are seven gigawatts of renewable energy projects in the region and this is very encouraging for the transformation of the energy mix in GCC countries. If you look at prices, we are currently at USD 0.14 per kilowatt for renewable energy and heading towards USD 0.01. This means the region is not only at the forefront in adopting renewable sources such as solar power, it means fossil fuel power generation is now being outcompeted by renewables,” said Nasser Saidi, Chairman, Clean Energy Business Council (MENA), adding: “If you’re going to invest in the regional energy sector, it has to be in renewables. They are much more efficient, cleaner for the environment and can be achieved at much less cost.”
Saidi added that ending regional energy subsidies, which have historically kept energy prices lower, will benefit both public and private sectors, consumers and the planet, with money previously set aside for subsides instead being utilised in renewables-based research and development, job creation and a greater understanding of how much energy is being consumed versus how much is actually needed.
The clean energy advocate also stressed the region is primed to take the lead in energy grid integration, stressing his desire for “everyone across the GCC to have their own power plant” is unnecessary.
“Let’s integrate the grids across the UAE, across the GCC. Integrated cooperation across the GCC will make for greater efficiency. It means that if there is a surge in energy demand in one location, it can be satisfied by other countries on the grid.”
Saidi told Middle East Energy delegates that while clean energy targets are a start, they mostly form part of a wider framework centred around climate policy and decarbonising economies for the future, insisting MENA governments and energy companies are already in the driving seat to chart a decarbonised future.
“There is an enormous opportunity for the region to invest in the industry and create jobs. We’ve long been energy consumers; now we should become exporters of renewable energy. There’s no reason why we cannot be at the forefront, as producers of solar technology, to link Europe and North Africa,” added Saidi.
“If there’s one place where we should be doing research and development in solar it is here, not in Europe. We have approximately 355 days of sunshine. Let’s take the lead, build homegrown technology and become exporters of that technology. We can partner with countries such as China who are at the forefront of solar technology. I think this is the answer.”
The renewable energy discussion continues on day two of the show (March 4) with topics including ‘The Middle East and Emission-Free Technology Mix’; ‘Disruptive Technologies, Hybrid systems and Smart Grid solutions’, plus many more sessions on solar power and digitalisation.
Middle East Energy is held under the patronage of HH Sheikh Maktoum Bin Mohammed Bin Rashid Al Maktoum, Dubai Deputy Ruler and is hosted by the UAE Ministry of Energy.
Middle East Energy will be open daily from 10-6pm and, following a partnership between the event organiser Informa Markets and Dubai Expo 2020, exhibition goers can purchase Expo 2020 tickets at this week’s show. A range of Informa Markets exhibitions will be held as part of the Expo 2020 experience.
For more information, visit www.middleeastenergy.com
