KUWAIT CITY, Oct 3 : A report published by the ‘Hillink Shipping News’ website stated that the Gulf states are moving ahead with the construction of renewable energy projects despite the abundance of fossil fuels and the challenges of posed by the Corona pandemic, reports Al-Rai daily. The report pointed out that low customs duties and plans to reduce dependence on crude oil and natural gas as energy feedstocks and energyintensive desalination plants are major factors behind the rapid development of renewable energy sources in the region.
Meanwhile, the Shaqaya Renewable Energy Park – phase III is an extension to Kuwait’s vision of producing up to 15% of the energy from renewable energy sources by the year 2030. The project is introduced by Kuwait’s Institute for Scientific Research (KISR) and is part of Ministry of Electricity & Water (MEW) projects. At the same time, a source pointed out that the oil-rich Gulf region is among the regions that benefit most from the global appetite for renewable energy projects, indicating that all Gulf countries have managed to develop renewable energy projects over the past few years, indicating their desire to adopt this approach.
On the other hand, the report expected that Saudi Arabia, the largest oil exporter in the world, will lead the rush of the Middle East region over the next few years, after it launched several renewable energy projects, including the first wind farm to free burnt crude oil in power stations for export. The renewable energy analyst at the International Energy Agency (IEA), Yasmine Abdellah, stated that renewable energy sources in the Middle East have been strengthened through regulatory environments that have allowed private developers to own projects, generate electricity, consume energy and sell longterm goals for renewable energy combined with subsidy policies which will enjoy growth in the near term.