UK solar developer Hive Energy has officially opened a new Middle East regional headquarters in Dubai, UAE, reported Trade Arabia.
The office will focus on developing solar PV opportunities in the region.
CEO Giles Redpath said: “Solar power in the United Arab Emirates (UAE) has the potential to provide most of the country’s electricity demand. Although a major oil producing country, the UAE is taking significant steps towards introducing solar power on a large scale.”
Hive’s Middle East Regional headquarters will be led by the company’s Middle East, Africa and Indian Ocean Island director Colin Loubser.
According to PV-Tech, one of the reasons that British renewables firms like Hive are expanding internationally is that the British government is revising its feed-in-tariff system, hoping to cut it by 87%.
The hope is that the project development skills of companies like Hive in their UK home market will work in developing nations.
Finaly Colville of Solar Intelligence explained that the “model employed by ib Vogt, Martifer, and others, over the past few years, shows that project development skills can be transferred to other countries. The trick is choosing the correct countries, and aligning with the financing vehicles specific to solar around the world.”
“Having sufficient corporate financing behind overseas expansions has often been the key factor behind many developers attempts to having a global footprint, and it will be interesting in this respect how Hive aligns its strategy within the middle east and any other countries prioritised for post-UK growth,” he added.
Another potential country of destination is India given its plans to install up to 100GW of solar by 2022.