There will be a continued growth in solar as one of the key trends in energy in 2011 in the region, according to an expert.
“The convergence of mergers and acquisitions on emerging markets, nuclear power developments and intensified attention to water usage,” said Peter Bommel, Deloitte’s Global Lead Partner for Energy and Resources.
Leading Deloitte Energy Experts attend Abu Dhabi’s World Future Energy Summit to share insights into Trends for the Year Ahead.
Experts from Deloitte, international policy makers, industry leaders and investors as well as academics will meet for the third year running during the World Future Energy Summit (WFES) to find practical and sustainable solutions for today’s energy security and climate change problems.
“Solar as well as the nuclear developments are key opportunities for energy diversification in the region, with the Abu Dhabi government taking a regional lead role in both those sectors,” said Mutasem Dajani Middle East Energy Partner while explaining the trends in the region.
“An interesting dynamic pertaining to future energy here in the Middle East is to witness how governments develop ways to complement their natural fossil resources with future energy resources for the long-term. There are plans to recycle oil-revenues into solar energy and sustainability research, which is a smart way of investing current wealth to return sustainable economic stability and energy security in the future,” said Hannes Reinisch, Regional Renewable Energy Coordinator.
According to Deloitte, 2011 will not be without its challenges. Supersizing renewable energy to a truly large scale and finding ways to fund renewable projects are among the key challenges for the industry this coming year.
Governments, on the other hand, face the challenge of creating regulatory certainty to attract energy sector investment even in times of economic uncertainty. Another critical challenge where government and industry could work together is building the foundations to attract key talent with specialist skills into the industry and region
Looking far beyond 2011, Deloitte sees the Desertec Industrial Initiative (Dii) as a driver of change with significant potential to deliver transformation to the future energy industries of the Middle East, Europe and North Africa.
“Deloitte is proud partner with Dii in their aim to tap into the clean power resources from the deserts of the region,” added Dajani.