France unveils advanced energy solutions
As the world embarks on the journey post-cop 28, the Middle East Energy exhibition, the premier event in the MENA region for energy, announces its commencement on April 16.
Held over three transformative days, the French Pavilion will be at the forefront, demonstrating the expertise of 23 French electrical equipment manufacturers adept in tackling the region's energy challenges, a press release said.
In the aftermath of COP28 UAE, lauded by Sultan al Jaber, UAE’S Minister of Industry and Advanced Technology, the region is witnessing an expedited shift towards diversified energy policies and innovation. These will complement existing strategies such as the ‘UAE Net Zero 2050’, supported by an expected investment of Us$163.3bn by 2050, and the ‘smart grids’ strategy implemented by the Dubai Electricity and Water Authority with an investment of Us$1.9bn. This momentum, amplified by population growth and increasing tourism development, underscores the significance of energy transition and digital transformation as major priorities.
The impending energy transition, linked with the demographic and tourism growth, underlines the imperative for energy and digital transformation. Egypt, for instance, predicts creating two million jobs in three decades, while other nations of the region see this as a path reduce their fossil fuel dependency.
Furthermore, the UAE'S potential grasp of 25% in the burgeoning hydrogen market, valued at over Us$400bn annually, underscores the region’s monumental shift. Saudi Arabia’s venture into green hydrogen initiatives signifies a broader regional commitment to sustainable energy solutions, carving opportunities for French enterprises ready to embrace the technological wave.
In the context of the Middle East Energy 2024 exhibition, the France 2030 investment plan is a beacon of France's commitment to pioneering sustainable energy solutions on a global scale. With 54 billion earmarked for sector-wide decarbonisation, the plan is particularly resonant with the energy themes of the exhibition. Of this, 8bn is specifically injected into the energy sector to foster the development of small nuclear reactors and green hydrogen projects, aligning with the global energy transition trends showcased at the event.
“By participating in Middle East Energy 2024, France showcases its proficiency in the energy sector while also underscoring its comprehensive dedication to sustainability, innovation, and advanced technology. This commitment marks a step towards a future that greener and sustainable. France’s presence in the Middle East contributes to the growing demands for energy and the region’s sustainable future," Axel Baroux, managing director of Business France Middle East.