MENA Moves Towards Achieving Its Renewable Energy Agendaby | 07-10-2014 20:55 |
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     It is a fact that the Middle East and North Africa (MENA) – a region that is home to half of the world?s proven oil and gas reserves – is right at the heart of a global shift to renewable energy today. The need for energy security amid rising populations and growing economies, as well as a desire to ensure long term economic prosperity through resource exports, creates a solid case for the region?s commitment to renewables. To achieve its stated commitments, The MENA will need to invest more than US$50 billion into technology, deployment, research and training by the end of the decade. And the work has already begun. In the Kingdom of Saudi Arabia (KSA) for example, the King Abdullah City for Atomic and Renewable Energy (K.A.CARE) recently announced its plans to build solar power plants in five regions across the KSA by the end of 2015. This is just the beginning for a nation that has earmarked US$109 billion to the development of 54GW of renewable energy by 2032. Like much of the region, its needs are clear. The world?s largest oil exporter risks becoming a net energy importer within 20 years without rapid diversification of its domestic energy supply. Securing growth and prosperity across the region through the widespread adoption of renewables is one of the most significant commercial opportunities of this generation. In uniting leaders, policy makers, technologists, academics and investors, we move closer to the realisation of an unprecedented economic opportunity. Image Credits-Google Images |
