Energy and its Complexities in the MENA Region Turning a New Leaf
1 year ago by Jack Evangelides

Energy and its Complexities in the MENA Region Turning a New Leaf

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The MENA region is starting to make better use of its most abundant natural resource - sunshine. Figures from the Middle East Solar Industry Association (MESIA) confirm that the number of large-scale projects in the region is mushrooming, and with each project seemingly larger than the last, energy yield records are tumbling quickly. In a region famed for its near-total reliance on fossil fuels, these are encouraging signs that the solar energy revolution is now underway in earnest. Not that there is any doubt that hydrocarbons will continue to dominate the region`s energy mix, at least for the foreseeable future. Writing for Al Jazeera recently, solar energy magnate Vicente Lopez-Ibor Mayor reported that a remarkable 65% of Saudi Arabia`s electricity is currently generated from oil, and that this number rises to above 90% in both Lebanon and Yemen. Clearly it would be a monumental achievement for solar power to overhaul dominance like that any time soon. There`s certainly no lack of incentive. Every barrel of domestic oil burned to generate electricity is one more than can`t be exported for profit, and burning fuel oil creates air and water pollution. There are also likely to be political benefits. Wrangling over energy imports and exports adds another dimension of complexity in a region already drowning in detail. Other parts of the word have already made remarkable progress toward drawing down their dependence on unsustainable sources of energy. Europe is home to some star performers, while the USA currently leads the world in sheer volume of renewable energy generated. The MENA has two advantages over most other parts of Earth when it comes to solar energy generation; its position within the global sun belt and its relatively recent engagement with harvesting technology that has matured considerably in its efficiency. So where do international operators, and by extension Cedar Rose, fit in to this picture? As part of our mission to make the MENA a safer place for people to do business, we welcome moves to safeguard and contribute to the prosperity of the region. Diversifying the MENA`s energy mix with a new emphasis on solar power has the potential to further accelerate the pace of development in the region. In a complex world, a solution almost as simple as a ray of sunshine is very welcome indeed. Hear the latest news in the MENA region, available at your disposal on our newsroom. Written by Christina Massaad, Managing Director *** The sole purpose of the article above is to generate public discussion, it has no intention to constitute legal advice. ***
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