The UAE receives the majority of its energy from fossil fuels, yet it plans to increase the use of renewable energy by up to 50% by 2050. It started its solar endeavors in 2013, and since then launched Abu Dhabi’s Noor Solar plant last year. Moreover, set to become one of the world’s largest solar plants is a project by Abu Dhabi Power in the UAE’s Al Dhafra region. The company claims it will generate the world’s cheapest solar power for around 160,000 households by 2022. Building a model for the future, the Mubadala Investment Company opened Masdar City in 2008. The urban innovation is a six square kilometer sustainable city in the country’s capital, which generates a third of its power on-site via solar panels. This has helped reduce carbon emissions and slash overall consumption by 60%, leading to cost savings for residents.
Masdar is seeking to advance the competitiveness of renewables, and its in-house expertise, through global partnerships. In Morocco, it is exploring hybrid systems and utilizing CSP technology, or concentrated solar power, to harness solar power by using mirrored technology. A photovoltaic plant, plus with CSP, and a molten salt storage can provide the required electricity – day and night – at the lowest cost possible. Solar energy also has the ability to create water with reverse osmosis and desalinate water with 75% less energy than thermal methods. The Pan Arab Clean Energy Initiative is targeting more regional clean energy dependence by 2030.
Whilst the old guard oil & gas industry won’t fade entirely from view in the years ahead, with the rise of cleaner energy, the sector’s landscape is already taking on a new shape.