A new report by the Arab Petroleum Investments Corporation (APICORP), owned by the Organization of Arab Exporting Countries (OAPC), stated that the total committed and planned energy investments in the MENA region may reach $900b over the upcoming five years, wrote Reuters.
The report revealed that planned MENA investments in the energy sector are estimated at $611b for the five-year period. The power sector accounts for the largest share of investments, at $194b. The oil and gas sector will represent $190b and $149b respectively, with the remaining investments in petrochemicals. Also, projects under study represented by far the largest portion of planned investments, at about $262b, according to Market Today.
The Water, Energy, Technology, and Environment Exhibition (WETEX), founded by HE Saeed Mohammed Al Tayer, CEO of Dubai Electricity and Water Authority (DEWA), aims to be the perfect platform to leverage from some of these planned energy investments.
WETEX showcases energy solutions for electric cars, as well as technologies related to distribution, storage and demand management.
Al Tayer said, “The establishment of infrastructure that matches the futuristic demand and leverages advancement in renewable energy solutions will contribute in ensuring sustainable supply through a diversity of energy sources.”