IMO News Service
The renewable energy sector in the Middle East is going to witness manifold growth in the coming years. German conglomerate Siemens, which is also Europe’s biggest industrial manufacturing company, has recently published a report forecasting that the growth in the Middle East renewable energy sector would triple over the next 17 years. This is surely good news for the region as green energy is going to get a significant boost. But the dampener nevertheless remains as the natural gas will continue to dominate in power generation, representing 60 percent of installed capacity through to 2035.
The report predicted that the power generation demand in the Middle East would be 483 GW by 2035. This will be undoubtedly huge when compared to 277 GW power generation demand in 2016. This will also be representative of an increase of more than triple from 5.6 percent (16.7 GW) in 2016 to 20.6 percent (100 GW) in 2035. It may be noted that Siemens is presently operating a LEED Platinum headquarters in Masdar City.
Dietmar Siersdorfer, Chief Executive Officer of Siemens Middle East and UAE, who recently spoke during the Abu Dhabi Sustainability Week, said that the requirement for making smarter grids has been “the most underestimated thing” in the global energy industry today. The fact however is that the need for a stable and efficient grid along with reliable energy storage solutions remain crucial as ever.
Siersdorfer said that hydrogen storage was undoubtedly a “holistic” solution. Apart from this, there was also need for battery storage too. “An eco-system for hydrogen can be built. The simple reason being that it has tremendous potential to act as a fuel for vehicles, and can also be used for other industries such as petrochemicals,” he said.
Siersdorfer argued that the backbone of social and economic development in the Middle East hinges on a reliable, affordable, flexible and efficient power supply systems. It is hoped that the Middle East renewable energy sector is going to witness huge diversification over the next 20 years, and become a harbinger of a clean, green future.