There is an increasingly more and more evident energy change, and even the countries we would never think are jumping to the renewable pool. Yes, I talk about the countries of the Persian Gulf. However, the tests are there: seven Chinese solar companies were generating more energy capacity than the world’s greatest oil companies. So, now, with their money and a lot of sun, everything indicates that they will give sorpasso.
Wild investment. For very recently, Gulf countries have decided to invest in renewable projects. On the one hand, the United Arab Emirates They have announced a solar project 5.2 GW with a battery system, also betting on storage.
On the other hand, Saudi Arabia is developing its energy transition plan through the Vision 2030 Plan. Recently, the Saudi Aramco oil giant has announced an agreement to start producing lithium in 2027. In addition, They are developing a plan to extract and enrich uranium For nuclear energy. Likewise, the Saudi country is carrying out different solar energy projects, some in Collaboration with China and others with Spain.
And we can’t forget Kuwait, who already started two years ago has develop 17 GW of renewable energy and 25 GW capacity for the production of green hydrogen, which propose to export it to international markets.
Data. According to the recent report by the International Renewable Energies Agency, the Middle East has Less than 1% of the world’s renewable capacity. However, from the agency they have detailed that the forecast for the next few years will be of accelerated growth.
For its part, An analysis of the consultant Rystad Energypoints out that within five years, more than 30% represents total capacity in Gulf countries such as the United Arab Emirates, Saudi Arabia, Bahrain, Kuwait, Oman and Qatar. From the consultant they detail that this impulse is due to the weather conditions and the favorable conditions of the market.
New solar panels will boost electricity generation in the Gulf
Favorable energies. In the graph of Rystad EnergyWe observe that the Persian Gulf has two very different parts. The colored areas of orange, blue and green that represent renewable energies we see how they increase exponentially, especially solar. However, we see how nuclear and hydrogen have a slight growth that is maintained over the years.
On the other hand, oil and gas, colored gray, although they are currently the main sources of energy, they will fall by 2050.
China, ally or competition? The Asian giant has become a double agent in the energy transition, acting as much as a partner and competitor. On the side, Chinese companies such as Jinko Solar, Longi and Byd are providing solar panels, batteries and other technologies for the ambitious renewable projects in the desert region.
On the other hand, China is carrying out the development of its own solar and wind projects. Besides, Your dominance over the global supply chain of batteries and solar panels gives you an advantage in the energy market. At the same time, its expansion in the Middle East allows you to gain influence in a region that has historically been dominated by fossil fuels.
The change. The Persian Gulf is in the process of investing in renewables to mark its path to sustainability. However, they still have a stretch to travel because infrastructure and energy supply stability are still aspects that must be resolved.
Image | Unspash