Re­new­able en­ergy in­vest­ments at $303 bil­lion in 2015: Cen­ter

Kuwait Times - - LOCAL -

The world’s in­vest­ments in re­new­able en­ergy projects had reached $303 bil­lion in 2015, said the Diplomatic Cen­ter for Strate­gic Stud­ies yes­ter­day. Ac­cord­ing to a re­port by the cen­ter, the in­vest­ment shares in re­new­able en­ergy re­sources in 2015 was at 17 per­cent, an in­crease by one point from 2014’s 16 per­cent.

The In­ter­na­tional En­ergy Agency (IEA) re­vealed re­new­able en­ergy us­age be­tween 2011 and 2015 in­creased by 40 per­cent due to the low cost in har­ness­ing so­lar and wind pow­ers, said the cen­ter. The re­port added that re­new­able en­ergy had contributed im­mensely to the pro­duc­tion of elec­tric­ity by 154 megawatts in which around 76 per­cent was solely pro­duced by wind tur­bines and so­lar pan­els.

As for the num­bers in the Mid­dle East, the re­port claimed that coun­tries in the re­gion had tripled its re­new­able en­ergy in­vest­ments in 2015. The cen­ter has at­trib­uted the keen in­ter­est in re­new­able en­ergy in the Mid­dle East to the de­vel­op­ing tech­nolo­gies in this field and low costs. In Morocco, the low­est wind speed pro­duced elec­tric­ity that amounted to $28 kilo­watt hour while in Dubai it amounted to $30 kilo­watt hour, said the cen­ter’s re­port. The re­port also touched on the up­com­ing World Fu­ture En­ergy Sum­mit (WFES), to be held on Jan­uary 16-19, 2017 in Dubai, say­ing that the event will look into mat­ters that would re­in­force de­vel­op­ment within the do­main of re­new­able en­ergy.

Ham­mer­ing on the va­lid­ity of re­new­able en­ergy in­vest­ments in the re­gion, the In­ter­na­tional Re­new­able En­ergy Agency (IRENA) re­vealed that the cost for pro­duc­ing elec­tric­ity through so­lar pan­els in the UAE went down to a stag­ger­ing 75 per­cent be­tween 2008 and mid-2014 from $7 to 1.5 per watt.

Re­new­able en­ergy

In other news, the pe­tro­leum sec­tor’s ef­forts to pro­mote the use of re­new­able en­ergy was high­lighted at the re­gional Sus­tain­able Built En­vi­ron­ment Con­fer­ence, cur­rently held in Doha. Kuwait Na­tional Pe­tro­leum Com­pany (KNPC) has pre­sented a re­search pa­per to the con­fer­ence on the pe­tro­leum sec­tor’s role in widen­ing the use of re­new­able en­ergy, KNPC’s Re­search and Tech­nol­ogy Depart­ment Man­ager Suad Al-Rad­hwan said on the side­line of con­fer­ence.

In­creas­ing Kuwait’s reliance on re­new­able en­ergy is a trans­la­tion of His High­ness the Amir Sheikh Sabah Al-Ah­mad Al-Jaber Al-Sabah’s vi­sion of se­cur­ing 15 per­cent of Kuwait’s en­ergy con­sump­tion from re­new­able en­ergy sources by 2030, she pointed out. She ar­gued that the pe­tro­leum sec­tor has went fur­ther in its strat­egy which with plans to ma­te­ri­al­ize His High­ness the Amir’s vi­sion by 2020 in­stead of 2030.

Rad­hwan un­veiled that the sec­tor has al­ready com­pleted the fea­si­bil­ity study and is pre­par­ing to launch a mega project to es­tab­lish a na­tional power sta­tion to gen­er­ate 15 per­cent of Kuwait en­ergy con­sump­tion from re­new­able sources. The KNPC has re­cently op­er­ated two so­lar-pow­ered fu­el­ing sta­tions in Al-Zahra and Al-Raqqah neigh­bor­hoods, she noted, adding that it has cho­sen 44 other fa­cil­i­ties to turn them to so­lar power in the com­ing stage. She stated that the com­pany is em­bark­ing on a plan to ap­ply green build­ing code on its ware­houses in Sab­han, Al-Ah­madi, and New Mut­laa cities.

Green build­ing

Rad­hwan noted that KNPC has signed an agree­ment with the Gulf Or­ga­ni­za­tion for Re­search and De­vel­op­ment (GORD) on en­vi­ron­ment co­op­er­a­tion and ap­pli­ca­tion of green build­ing code in the pe­tro­leum sec­tor’s fa­cil­i­ties. The KNPC has se­lected two build­ings, in­clud­ing one still un­der con­struc­tion, to ap­ply the green build­ing code to en­hance the en­ergy ef­fi­ciency, she pointed out.

On the con­fer­ence, which kicked off yes­ter­day, Rad­hwan un­der­lined the im­por­tance of the gath­er­ing which pro­vides a plat­form for en­ergy and en­vi­ron­ment en­ti­ties to ex­change ex­pe­ri­ence and best prac­tices in the do­main. The Sus­tain­able Built En­vi­ron­ment Con­fer­ence is the re­gional con­fer­ence for GCC and MENA re­gion on sus­tain­able con­struc­tion and ur­ban de­vel­op­ment. The con­fer­ence aims to drive in­no­va­tion in the de­sign of built en­vi­ron­ment, as well as pro­mot­ing ed­u­ca­tion and col­lab­o­ra­tion in the field and will serve as a plat­form for ex­change be­tween re­searchers and prac­ti­tion­ers of the con­struc­tion in­dus­try to foster the im­ple­men­ta­tion of sus­tain­abil­ity stan­dards in the built en­vi­ron­ment. —KUNA

DOHA: KNPC’s Re­search and Tech­nol­ogy Depart­ment Man­ager Suad Al-Rad­hwan speaks dur­ing the re­gional Sus­tain­able Built En­vi­ron­ment Con­fer­ence in Doha, Qatar.—KUNA

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