Page 40 - Tcexpression2021 - Sept to Dec 2020

Abu Dhabi, Dubai and Saudi Arabia have been passing With demand for energy continuing to rise in the
the crown to achieve the cheapest renewable energy region and increasing pressure from governments,
over the last several years now. investors and consumers to support the industry’s
decarbonisation, the energy transition is set to
All these “Price Wars” are directly benefitting Middle remain at the forefront of regional governments’
East Nations and helping their economies in the long priorities.
run. In an interview, the Crown Prince of Abu Dhabi,
Sheikh Mohammed bin Zayed appeared to embrace
the change and said: “In 50 years, when we might have Author
the last barrel of oil… I can tell you we will celebrate
that moment”. Ashwani Sadhu - Associate Vice President
Tata Consulting Engineers Limited (TCE)
TCE has been associated with more than 13GW of
solar projects, including 4GW in the Middle East region
working closely with some developers.
References:
Energy Transition in the Middle East • https://www.americansecurityproject.org/a-bright-future-
the-middle-easts-solar-revolution/
The Middle East has long been associated with • https://www.powermag.com/record-low-solar-prices-drive-
high-polluting fossil fuels — but now set to become middle-east-projects/
a global leader in the energy transition towards • https://www.pv-magazine.com/2020/01/17/mesia-
zero-carbon sources. outlines-past-progress-future-promise-in-sweeping-look-at-
solar-across-middle-east-and-north-africa/
The region that was reliant on its Natural reserves • https://www.euronews.com/2020/06/12/as-solar-energy-
for several decades is increasing its stake in rises-in-the-middle-east-will-the-sun-set-on-the-oil-gas-
sector
renewables over the past few years to limit the • https://www.greentechmedia.com/articles/read/how-
impacts of climate change. mena-could-go-from-oil-rich-to-carbon-free
• https://www.scientificamerican.com/article/solar-power-
One of the key challenges the region faces is invades-oil-rich-middle-east/
water scarcity, so need for regional governments • https://www.powermag.com/record-low-solar-prices-drive-
to invest heavily in water, with the private sector’s middle-east-projects/
involvement. • https://www.offgridenergyindependence.com/
articles/16269/renewable-energy-most-competitive-
Given the region’s abundant renewable energy • source-of-new-power-in-gcc
https://www.researchgate.net/publication/326032793_
resources, availability of investment capital, GCC_Power_Grid_Transforming_the_GCC_Power_Sector_
landmass and infrastructure, the Gulf states are into_a_Major_Energy_Trading_Market
in prime position to take the reins in the green • https://solarmagazine.com/sun-on-the-sand-middle-east-
hydrogen market, which is in early stages but and-north-africa-mena-turns-to-solar-power/
much projected to be a growth area for the region. • https://www.weforum.org/agenda/2019/03/solar-is-
powering-the-middle-east-towards-renewables/
The region has taken steps to reiterate interest to • https://www.forbes.com/sites/dominicdudley/2020/04/28/
policymakers in the region to implement projects • abu-dhabi-cheapest-solar-power/#5be392fc4924
https://www.saurenergy.com/solar-energy-news/adpower-
like CO2-free hydrogen despite the lack of a gets-record-low-solar-pv-price-for-2-gw-project-in-uae
regulatory framework for the licensing. • https://www.researchgate.net/publication/328147444_
Evaluating_the_factors_that_led_to_low-priced_solar_
Since Q2 of 2020, fossil fuel consumption and CO2 electricity_projects_in_the_Middle_East
emission levels have plummeted, renewable energy • https://www.worldconstructionnetwork.com/news/acwa-
has re-emerged at the forefront of discourse. power-consortium-closes-financing-for-500mw-power-
Businesses have been subject to and will continue • project-in-oman/
https://commodityinside.com/reports/solar-energy-
to face mounting pressure from the public, market-in-middle-east/
regulators, industry experts, organisations and • https://www.saurenergy.com/solar-energy-news/the-solar-
governments to focus more heavily on ESG policies. rush-in-the-middle-east-picks-pace

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