Renewable Energy to boost growth in Gulf countries

Renewable energy will not only contribute in increasing oil income but also boost jobs in the oil-producing Gulf countries, according to the head of a leading European renewable energy group.
“There is a low- cost opportunity because every time a barrel of oil is being used to produce electricity or for heat this oil is not being sold outside,” Jean-March Armitano, President of the of RES Mediterranean, a subsidiary of RES Group, told the Kuwait news agency, KUNA, in Brussels Wednesday.
“So we believe that these oil producing countries if they produce electricity from renewable not only they will provide energy but save money and they will be able to sell the oil in much higher price than use it in their own country,” he argued.
Secondly, renewable energy will create more jobs , he stated.
Armitano said the RES Group which is based in France is one of the worlds leading renewable energy developers active in Europe, Asia-Pacific, South Africa and North America.
Many Gulf countries , he noted, are investing in renewable technologies and plans. “We understand there is a lot of interest in these countries in the new technologies itself. Solar energy has been the prime focus of Gulf countries but we believe that wind energy has also a potential in some areas,” he said.
“We are presently looking for opportunities in the Middle East. We have been active in Turkey since five years. We are now looking further to the East, in particular in Saudi Arabia,” he said.
He cited the example of Saudi Arabia which by 2030 will need excess of 60 gigawatt of electricity to sustain their economy. There is a draft plan which says that 41 gigawatt of this should come by renewable energy, especially solar power but also wind energy.
“The world in the long run will have to do without oil and gas. It will take decades but this is where the market is heading. I think there is an opportunity for Middle East countries to get involved in renewable energy. This will save oil and they can sell oil,” said the European energy expert.
“If we use renewable energy it can boost local economy but can also extend the forecasted end of the fossil fuel era,” he told KUNA.
Armitano was in Brussels to take part in debate on Europes energy future.
Meanwhile, presidents of six leading European energy companies today called for a strong 2030 EU climate and energy framework with an ambitious renewable energy target, including binding national targets.
“An ambitious renewable energy target will boost green growth, creating 570, 000 more jobs and saving 260 billion euro in fossil fuel imports ,”the CEOs from Acciona Energia, Alstom, Enercon, ERG Renew, RES Med and Vestas told a press conference organised by the European Wind Energy Association today.
“We encourage EU Heads of State to support the European Parliament’s call for binding national renewable energy targets as well as at least the 30 percent overall target. Doing so will contribute to increasing EU employment, energy security, and technology leadership,” they said.

Source: KUNA