Rebuilding Maghreb/the Middle East - Fast forward the Renewable Energy Revolution for a better Future
The 4th Annual Maghreb/Middle East Renewable Energy Summit 2012, following after recent elections, a new societal and in some cases, new market openness and a new vibe, arising from political seismic changes & liberalisation, provides a refreshing Strategic Platform for industry and market stakeholders including power generation & distribution companies to address key burning issues, and exchange ideas on how to attract investors to the renewable sector in these regions to sustainably develop and generate electricity from renewable sources.
Notwithstanding the European debt crisis, countries in the North Africa and the Middle East regions have taken a greater urgency in rebuilding strife-torn economies, developing new industrial zones and factories with emphasis on local content to meet local employment needs. Even oil and gas rich countries such as Saudi Arabia and Qatar are building their own polysilicon factories! These opportunities are unprecedented elsewhere in a world that is expecting only for further economic recession and hardship!
Renewable potentials and prospects in the Maghreb/Middle East regions are exceptional, taking into consideration the average wind speed and solar potentials which rank among the highest in the world, a factor which has ensured that renewable energy will experience considerable growth going forward and poised to establish itself as a viable source for power generation in the region.
New tenders for solar and wind farms have been issued in late 2011, and more new procurement, PPP and co-financing opportunities await industry in 2012! Morocco, Saudi Arabia and Algeria, in particular, have garguantan orders to fulfill in the many years to come. With oil prices rising, new FIT tariff policies in the works and an opportunistic manufacturing shake-out in China and North America, this has never been a better time for the renewable energy sector in this region!
Against this background and working closely with the support of the region’s government electricity regulators, gencos, sovereign wealth funds, investors and international organizations including IRENA, the 4th Annual Maghreb/Middle East Renewable Energy Summit 2012 will facilitate further discussions, dialogue and exchange of ideas and to provide regional governments, project financiers, technology providers, investors and other relevant industry stakeholders opportunity to discuss policy issues, financing regulations and PPP frameworks in place to support projects on renewable energy , discuss evolving challenges, highlight opportunities for investments as well as deliberate on major strategic issues across the energy chain along which renewable energy sources co-exist.