COP28 commitments to increase renewable energy in Arab region by tenfold

COP28 commitments to increase renewable energy in Arab region by tenfold

DUBAI – Dr. Maged Mahmoud, Technical Director of the Regional Centre for Renewable Energy and Energy Efficiency (RCREEE), stated that the commitments at COP28 to triple renewable energy capacity for power generation and double energy efficiency will lead to a twofold increase in renewable energy in the Arab region by 2030, amounting to 10 times the current production capacity. In a statement to the Emirates News Agency (WAM) on the sidelines of COP28, he said that the conference embodied the pledges of countries to save the planet, which will inevitably lead to investments in all countries, expansions in the electrical grid, and a significant reduction in emissions, along with achieving economic returns for Arab countries and providing many job opportunities, steps that he described “a real success story" for COP28. Mahmoud stated that the contribution of renewable energy in the Arab world represents 7% of the total installed capacities, which range between 23,000 and 25,000 megawatts, pointing out that the Arab region presents projects that clearly illustrate the competitiveness of renewable energy, as the prices of renewable energy in the UAE, Egypt, Jordan and Morocco compete with global prices. He stressed that the Arab world has huge resources in renewable