SWITCHING TO RENEWABLE ENERGY COULD SAVE THE GCC USD 55-87 BN BY 2030

Monday, November 13, 2017

  • The GCC could save between USD 55 billion and USD 87 billion by 2030 when switching to renewable energy, according to The Big 5 Solar 2017’s research partner The BNC Network.
     
  • Under the patronage of the Ministry of Energy, The Big 5 Solar (26-29 November 2017 at Dubai World Trade Centre) will feature the third edition of the Global Solar Leader’s Summit and 12 CPD certified Solar Talks.

The GCC could save between USD 55 billion and USD 87 billion by 2030 when switching to renewable energy, event organisers announce ahead of the Big 5 Solar next month. According to the “GCC Solar Market Overview” report by BNC Network, research partner for the event, a key driver for the developing solar market is an increasing focus upon energy diversification strategies which seek to supply a population surge in the region.

Large-scale projects such as the Makkah Solar Power Plant in Saudi Arabia (USD 640 million), and the 1,177 megawatt Solar Photovoltaic Plant in the UAE (USD 872 million), signify an upward trajectory in the GCC solar market in particular and lead the way for improved clean energy strategies and advancements in solar technology.

The GCC Solar Market Overview report reveals that by 2020 the GCC energy sector will witness an estimated USD 50 billion in new project investments in a bid to increase local power generation capabilities. An estimated 60% of the land area in the region offers “excellent suitability” for solar PV development, and as a result the renewable energy sector in particular is expected to make up a significant share of new construction projects.

Looking forward, the report forecast that improvements in integrated solar technology will bring down the cost of solar power and allow for a broader and more popular application of clean energy. Furthermore, market growth can be sustained by favourable legislation like the Shams Dubai initiative, which in 2015 called for the installation of solar panels on every rooftop in Dubai by 2030 and set an example to other GCC governments.

Being one of the first projects to enable the involvement of private companies, the Mohammed Bin Rashid Al Maktoum Solar Park is encouraging the private sector to move further into renewable energy, adding even more momentum to the industry.  

Discussing the report, Portfolio Director for The Big 5 Solar Josine Heijmans evaluates that “the GCC solar energy market continues to grow with the launch of projects dedicated to building energy capabilities in the region. Adding that the GCC has some of the lowest solar tariffs in the world, demand is rising for the range of innovative products and solutions that will be showcased at The Big 5 Solar next month.”

Under the patronage of The Ministry of Energy and set to become a premier platform for solar professionals to network and do business in the Middle East, The Big 5 Solar 2017 (26-29 November at Dubai World Trade Centre) pursues the escalating demand drivers in the GCC market by showcasing solar technologies and offering insightful discourse on industry development.

The event will feature 12 free-to-attend CPD certified Solar Talks covering topics such as the connection between solar and construction, the impact of VAT on the solar industry, and the role of small and medium enterprises in developing the solar industry.

A prominent apex to the exhibition will be the third edition of the Global Solar Leaders Summit (GSLS), the only established high level summit in the Middle East focusing on the highlighting the global vision on renewable energy. It will offer lively debates, clear business-relevant focus groups and a very high degree of interaction.

The GSLS will be opened by the Undersecretary of the Ministry of Energy, His Excellency Dr. Matar Al Neyadi. Other keynote speakers at the summit include His Excellency Dr. Rashid Alleem, Chairman of Sharjah Water and Electricity Authority, Chairman of the Clean Energy Business Council (CEBC), His Excellency Dr. Nasser Saidi, and Browning Rockwell, Founding and Executive Director of SASIA & Solar GCC Alliance.

Organised by dmg events Middle East, Asia & Africa, The Big 5 Solar 2017 will be co-located with The Big 5 – the largest, most influential and renowned construction industry event in the Middle East.

Dowload the full GCC Solar Market Overview report, www.thebig5solar.ae/industry-report

Know more about The Big 5 Solar, www.thebig5solar.ae

For press registration at The Big 5 Solar, www.thebig5solar.ae/media-reg

For visitor registration The Big 5 Solar, register.thebig5solar.ae

Contact us
Jessica Scopacasa Public Relations Manager, dmg events Middle East, Asia & Africa
Elisha Dessurne Public Relations Executive, dmg events Middle East, Asia & Africa
Jessica Scopacasa Public Relations Manager, dmg events Middle East, Asia & Africa
Elisha Dessurne Public Relations Executive, dmg events Middle East, Asia & Africa
About The Big 5

The Big 5 is the construction event providing leading-edge innovation, knowledge, and business opportunities for industry players around the world to connect, grow, and succeed.

Taking place annually in Dubai since 1979, the event has launched hundreds of thousands of products boosting the expansion of emerging markets. It has facilitated partnerships, advanced knowledge and industry best practices, while serving as the gateway for international companies to access the Middle East, Africa and South Asia regions.

The Big 5 covers the full construction cycle; not only does it showcase products across dedicated sectors, it also runs alongside nine specialised events enabling industry professionals to source building solutions from around the globe for every stage of the construction projects: The Big 5 Heavy, Middle East Concrete, Windows, Doors & Facades Event, Gulf Glass, HVAC R Expo, The Big 5 Solar, Middle East Stone, the Urban Design & Landscape Expo, and FM Expo.

The event includes high-level summits, practical seminars, CPD-certified workshops, and The Big 5 Impact Awards to foster collaboration, support best practices, and provide effective solutions to today’s industry challenges.

The Big 5 is organised by dmg events and is free to attend for all pre-registered visitors. 

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To know more, visit www.thebig5.ae


About dmg events

dmg events is a leading organiser of face-to-face events and a publisher of trade magazines.

We aim to keep businesses informed and connect them with relevant communities to create vibrant marketplaces and to accelerate their business through face-to-face events.

dmg events organises more than 80 events across 25 countries, attracting over 425,000 attendees and delegates every year. The company’s portfolio of products includes many industry-leading events in the energy, construction, hospitality & design, coatings and transportation sectors. ADIPEC, The Big 5, Gastech, EGYPS, The Hotel Show and INDEX are the company’s flagship events. For more information visit www.dmgevents.com.

About DMGT

DMGT manages a portfolio of companies that provide businesses and consumers with compelling information, analysis, insight, events, news and entertainment. The Group takes a long-term approach to investment and has market-leading positions in consumer media, insurance risk, property information, education technology, energy information and events & exhibitions. In total, DMGT generates revenues of around £1 billion.




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