Greentech Lead Europe: Â An unprecedented increase in population and growth in industrial and economic activity has triggered newfound interest in renewable energy development for six major Middle Eastern economies, according to a research from Research and Markets.
Saudi Arabia, UAE, Kuwait, Qatar, Bahrain and Oman, together known as the Gulf Cooperation Council, have turned their focus towards the exploitation of renewable sources of energy present in the region.
Electricity production is the most energy intensive industry in these countries and is produced mostly from fossil fuels. The climatic conditions of the region make air conditioning a must resulting in more than average power consumption as compared to the rest of the world. About 99 percent of water in these countries comes from desalination, another energy consuming process, working mainly on gas feeds.
Water and electricity together are the most energy consuming sectors in the region and some of these countries are the highest per capita consumers of power and water. With depleting oil and gas reserves and export quotas and commitments to fulfill, it is vital for the GCC countries to diversify and look at renewable sources of energy for power and water production.
Saudi Arabia, UAE, Kuwait and Oman have each declared their plans to produce at least 10 percent of electricity from renewable sources of energy by 2020 and are leaving no stone unturned to secure their future with renewable sources of energy, the report implies.