Grid-related investments of US$50 billion could be required in GCC to accommodate renewable energy capacity
Report says investment is required to support proposed capacity additions from renewables
The GCC could require nearly US$50 billion of grid-related investments to support proposed capacity additions from renewables, according to Clean Energy – Going Beyond the Grid, a whitepaper prepared by Frost & Sullivan for Middle East Energy, which gets underway today at the Dubai World Trade Centre and continues until March 9, 2022.
The whitepaper revealed that for the GCC to diversify its power mix, investment in large-scale renewables capacity additions is required and would need increased investments in transmission and distribution networks to eliminate inadequacies. This comes on the back of the GCC witnessing an impressive 72 per cent compound annual growth rate (CAGR) in renewable energy installations from 2015-2020, with investment in grid enhancements and digitalisation to support additional renewable capacity required.
At the very centre of harnessing renewable energy and making it available for consumers is effective transmission and distribution networks, which is why the sector continues to play a prominent role at the Middle East Energy exhibition and during dedicated conference sessions.
In line with the expected increase in grid-related investments, a report titled Global Power Transmission and Distribution Equipment Industry has highlighted the transmission and distribution equipment industry is expected to top US$312.8 billion globally by 2026, further underscoring its importance as a central theme for the event.
Azzan Mohammed, Exhibition Director, Global Energy & Utilities Forum and Middle East Energy, said: “At the very centre of harnessing renewable energy and making it available for consumers is effective transmission and distribution networks, which is why the sector continues to play a prominent role at the Middle East Energy exhibition and during dedicated conference sessions.
“With the value of the transmission and distribution equipment industry continuing to grow exponentially, a range of market leaders have already confirmed their attendance at Middle East Energy and will be showcasing the latest technologies and innovations supporting the delivery of renewable energy to end-users and, ultimately, delivering on the regions net-zero commitments.”
Exhibitors, will provide insights into the latest breakthrough technologies, upgraded services, and solutions driving higher efficiency and flexibility within the sector.
In addition, a range of in-depth sessions as part of the Global Energy & Utilities Forum, including Grids of the Future, will address pressing industry issues, such as digital technologies for stabilising grids during the energy transition; the role of machine learning and AI in future grids; and the rise of the ‘prosumer’, someone who both produces and consumes energy, and their impact on grid development.
Supporting the demand for new information surrounding transmission and distribution is the event’s Technical Sessions. Visitors will have the opportunity to hear from experts regarding energy storage technologies for the grid, clean technologies in the microgrid, and leveraging residential EVs for grid stability.
Transmission & Distribution is just one of five focused product areas of Middle East Energy. The others cover energy-critical sectors, including Smart Solutions; Renewable & Clean Energies; Backup Generators & Critical Power; and Energy Consumption & Management.
Held under the patronage of H.H. Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai, Middle East Energy is hosted by the UAE Ministry of Energy & Infrastructure. Informa, organisers of the event, have confirmed over 18,000 attendees, 500 exhibitors and 250 delegates are expected during the three-day energy showcase.
The event enjoys a 47-year legacy as a leading global energy industry event. By catering to the entire product spectrum of the power industry, from critical and backup power to energy storage and management, year after year, the event attracts a more diverse audience of professionals seeking to source products from multiple sectors, drive cost-effectiveness and efficiency, and move projects forward.
Middle East Energy has been an essential part of the Middle East's economic expansion, connecting business and introducing new products to the region to build infrastructure, real estate, and commerce. The exhibition is now at the forefront of helping governments, organisations, and SMEs diversify the generation and supply of energy and build a sustainable future.