Holland Gulf Chamber of Commerce » solar power http://www.hgcoc.com Holland Gulf Chamber of Commerce is een organisatie gericht op het stimuleren van handel tussen Nederland en de Golfregio. Wij helpen bedrijven die zaken willen doen in de Golfregio aan de juiste ingangen bij de belangrijkste beslissingsmakers. Thu, 22 May 2014 10:31:03 +0000 en-US hourly 1 https://wordpress.org/?v=3.9.40 SAR581bn for solar power projects http://www.hgcoc.com/blog/2013/11/13/sar581bn-for-solar-power-projects/ http://www.hgcoc.com/blog/2013/11/13/sar581bn-for-solar-power-projects/#comments Wed, 13 Nov 2013 08:59:48 +0000 http://www.hgcoc.com/?p=1512 The Gulf Cooperation Council (GCC) countries are set to invest $155 billion (SR581.25 billion) for the construction of energy generating plants from non-traditional sources, notably solar energy, local media reported quoting a specialized energy report.
However, the drive of energy firms from the private sector to renewable energy projects is still under the required level while the government-owned companies have big capitals to invest in this type of activity, which sometimes falls within “sovereign decisions,” the report, released by Abu Dhabi-based Crescent Petroleum, said.
Availability of funding ways to develop energy sources is among the major challenges facing both public and private sector companies in this regard, the report said.
In particular, the private sector firms bear the brunt of challenges to get the required funding and, if attained, could give them the ability to participate in energy decision-making processes and acquire an increasing share of investments, the report said.
The report said both the public and private sector companies had to jointly consider the possibility of going into joint stock companies, which would bring positive results at the level of companies, new stockholders, financial markets and the energy sector as well.
This tendency is hoped to provide financial flows at reduced costs with a view to boosting long-term investment activities, the report said. Accordingly, the step will allow (GCC) governments direct spending to activate and promote other productive sectors at the least costs with high efficiency, it added.
The report emphasized the growing tendency toward the IPO (initial public offering) for energy firms in light of inability of the current financial regulations and legislations to directly fund the expansion of energy projects, notably the establishment of a regional oil exchange market.
Experts say the six GCC countries have already envisioned solar installation projects which will generate more than 84 GW of power when complete in a three-year period.
Saudi Arabia, in particular, hopes to double its installed electricity capacity by building 54 GW of renewable energy by 2032, of which 41 GW will be obtained from the sun. Abu Dhabi also seeks to generate 7 percent of its electricity from renewable sources by 2020.

]]> http://www.hgcoc.com/blog/2013/11/13/sar581bn-for-solar-power-projects/feed/ 0 GCC booming market for solar power http://www.hgcoc.com/blog/2013/09/04/gcc-booming-market-for-solar-power/ http://www.hgcoc.com/blog/2013/09/04/gcc-booming-market-for-solar-power/#comments Wed, 04 Sep 2013 07:49:06 +0000 http://www.hgcoc.com/?p=1385 Dubai: The six GCC (Gulf Cooperation Council) countries have sanctioned $155 billion (Dh596 billion) worth of solar power projects that will generate 84 gigawatts when completed in 2017, according to the region’s first dedicated solar technology exhibition Gulf Sol 2013.

Derek Burston, Director of UK-based Bowmedia, organisers of Gulf Sol 2013, said in a statement the GCC countries had demonstrated their keenness to shift towards low-cost solar energy.

A reduction in costs of solar technologies coupled with rising electricity demand could make the region a hub for solar expansion, he added.

Marc Norman, Director of Emirates Solar Industries Association, said the high cost of petrol was making the switch to solar energy increasingly attractive.
Concentrated solar power (CSP) can be used in the oil extraction process by producing and pumping steam into oil reserves.

Norman said that the region would become an attractive market for Chinese companies that are stuck in regulation and trade battles in the US and EU.
However, stability in the region remains an issue for the solar industry.

Farhad Ghafourian, of UAE Container Glass Association, said the raw sand materials used to produce solar photovoltaic (pv) glass are sourced from Egypt.

The Gulf Sol 2013 and Gulf Glass 2013 exhibitions will be held at Dubai World Trade Centre from September 3 to 5.

By Alexander Cornwell Staff Reporter

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