Green energy
Has the Middle East emerged as leader in the field of green energy, or is it lagging behind other parts of the world?
“While it is not yet possible to say that the Middle East has emerged as a leader in green energy, the region most certainly has some of the best resources in this field. The vision and announcement from the leadership to transform Dubai into a smart city and the most sustainable in the world, is well on track.”
What are the main challenges for the region’s green energy ambitions?
“The biggest challenge is the private sector’s reservations to invest in switching from conventional energy to renewable energy. The region has lived for decades in abundance and hence it is a challenge to convince companies or decision makers to deploy capital in areas of green energy solutions.
“Also, for the MENA countries to achieve their renewable energy ambitions they will need to draw on international expertise, devise supportive renewable energy policies and enhance current grid infrastructure.”
How can companies take steps to be more energy efficient and what are the business benefits?
“First and foremost, companies should have an energy audit of their premises. Then they can replace existing lights with LED lights that can make energy savings of up to 95 per cent.
“Another good idea is to install solar systems, which could allow companies to operate exclusively on energy produced from the sun.”
Renewable energy is growing in the Gulf region – does a busy marketplace strengthen or dilute the sector?
“A busy market certainly strengthens the sector – it creates the much required eco-system for the growth of green energy. More players in the market creates awareness and demand. However, it is important for the market to carefully absorb only those that offer reliable products and services.”
How important are collaborations in developing sustainable solutions?
“The sustainability issues we face are so big and the targets are so challenging that no one can do it alone. Healthy collaboration between governments, think tanks, industry stakeholders and customers is the key to balanced progress and success. This is what we did at Neon Energy, for example – partnering with Dubai’s Al Fajer Group to help develop the UAE’s renewable energy sector and accelerate the drive to reduce the global carbon footprint.”