Vahid Fotuhi, president of Emirates Solar Industry Association, has installed solar panels on the roof of his home in Dubai. Can a similar scheme work in Abu Dhabi?
Vahid Fotuhi, president of Emirates Solar Industry Association, has installed solar panels on the roof of his home in Dubai. Can a similar scheme work in Abu Dhabi?

Can rooftop solar power make a difference to the UAE?



Europe has become a world leader in solar-power production, with often-cloudy Germany leading the pack.
Essential to that progress have been feed-in tariffs, a mechanism that obliges local utilities to buy locally produced renewable electricity at a predetermined price.
But does the remarkable success of such tariffs in Europe make them the best bet to jump-start solar in sunny Abu Dhabi, as the emirate strives to reach its target of getting 7 per cent of its energy from renewable sources by 2020?
Plans by Abu Dhabi's electricity regulator to introduce a feed-in tariff for rooftop photovoltaics (PV) indicate that this question has been answered with a "yes".
Feed-in tariffs were developed in the European context, and it must be kept in mind that they are not the only way of promoting private investment into renewables.
In Abu Dhabi, in particular, an effective and efficient policy could be designed to take advantage of the bountiful supply of both sunlight and unused land.
While feed-in tariffs can help increase renewable energy capacity, they do have drawbacks.
They do indeed effectively promote solar investment - especially in small-scale, decentralised generation. But that effectiveness in turn demands considerable investment in the grid to guarantee its stability.
And the small size of rooftop PV makes it difficult to exploit economies of scale. They are expensive to clean and to maintain.
Furthermore, politics often has a hard time keeping up with the market. In several European countries public authorities were too slow in adapting their feed-in tariffs to the rapid developments in the solar sector, resulting in boom and bust cycles - hardly an efficient way to promote an industry.
Rooftop solar plants were an obvious choice in European countries that are strapped for space.
But given the abundance of both sunshine and unused land in Abu Dhabi, why pick up the crumbs if the pie is within reach? The potential of ground-mounted solar farms eclipses that of rooftop PV and has several economic advantages.
Rather than using feed-in tariffs to expand PV capacity by means of thousands of rooftop plants in the kilowatt range, it might be better to tender out the construction and operation of a dozen large solar plants, each generating several megawatts of power, to private companies. That could offer a simple, but highly effective and efficient support mechanism to usher in massive private investment into renewables in Abu Dhabi.
The idea is hardly new. Abu Dhabi already has a great deal of experience with tenders for public-private partnerships in the power sector. Private companies build, own and operate power plants and sell the power they produce to a government entity under a long-term agreement. The emirate's expertise in conventional power plants could easily be extended to renewables.
Using tenders, large ground-mounted PV projects could be developed at a more competitive cost and make a real contribution to Abu Dhabi's renewable energy target - like the Shams 1 concentrating solar power plant, due to open this month in Abu Dhabi's Western Region.
Production costs could be kept low by taking advantage of economies of scale, and plants could be sited where the grid is strong and maintenance is easy.
The tendering of large solar farms is difficult in European countries. Space is scarce and policymakers are wary of promoting renewables to the detriment of food production.
On top of that, long-term purchase agreements awarded to the winning bidders are at odds with the ideology of their liberalised electricity markets.
Since electricity markets do not exist in Abu Dhabi's single-buyer sector model, tendering is the procurement method of choice.
A rooftop solar feed-in tariff should not be counted on as the silver bullet to accelerate investment into renewable energies in the Abu Dhabi.
Still, by promoting the acceptance of renewable energy sources through massive public participation, they may, in a side role, have their part to play.
 
* Ralf Dyllick-Brenzinger is a doctoral student at Ecole Polytechnique Federale de Lausanne. He has published on electricity sector reform in MENA and operates a feed-in tariff-supported PV plant in Germany

Water waste

In the UAE’s arid climate, small shrubs, bushes and flower beds usually require about six litres of water per square metre, daily. That increases to 12 litres per square metre a day for small trees, and 300 litres for palm trees.

Horticulturists suggest the best time for watering is before 8am or after 6pm, when water won't be dried up by the sun.

A global report published by the Water Resources Institute in August, ranked the UAE 10th out of 164 nations where water supplies are most stretched.

The Emirates is the world’s third largest per capita water consumer after the US and Canada.

Five expert hiking tips
    Always check the weather forecast before setting off Make sure you have plenty of water Set off early to avoid sudden weather changes in the afternoon Wear appropriate clothing and footwear Take your litter home with you
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Meatless Days
Sara Suleri, with an introduction by Kamila Shamsie
​​​​​​​Penguin 

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Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.

Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.

“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”

The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”

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How to wear a kandura

Dos

  • Wear the right fabric for the right season and occasion 
  • Always ask for the dress code if you don’t know
  • Wear a white kandura, white ghutra / shemagh (headwear) and black shoes for work 
  • Wear 100 per cent cotton under the kandura as most fabrics are polyester

Don’ts 

  • Wear hamdania for work, always wear a ghutra and agal 
  • Buy a kandura only based on how it feels; ask questions about the fabric and understand what you are buying
Recycle Reuse Repurpose

New central waste facility on site at expo Dubai South area to  handle estimated 173 tonne of waste generated daily by millions of visitors

Recyclables such as plastic, paper, glass will be collected from bins on the expo site and taken to the new expo Central Waste Facility on site

Organic waste will be processed at the new onsite Central Waste Facility, treated and converted into compost to be re-used to green the expo area

Of 173 tonnes of waste daily, an estimated 39 per cent will be recyclables, 48 per cent  organic waste  and 13 per cent  general waste.

About 147 tonnes will be recycled and converted to new products at another existing facility in Ras Al Khor

Recycling at Ras Al Khor unit:

Plastic items to be converted to plastic bags and recycled

Paper pulp moulded products such as cup carriers, egg trays, seed pots, and food packaging trays

Glass waste into bowls, lights, candle holders, serving trays and coasters

Aim is for 85 per cent of waste from the site to be diverted from landfill 

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Starring: Dennis Quaid, Michael Ealy, Meagan Good

One star

SPECS

Nissan 370z Nismo

Engine: 3.7-litre V6

Transmission: seven-speed automatic

Power: 363hp

Torque: 560Nm

Price: Dh184,500

COMPANY PROFILE
Name: Airev
Started: September 2023
Founder: Muhammad Khalid
Based: Abu Dhabi
Sector: Generative AI
Initial investment: Undisclosed
Investment stage: Series A
Investors: Core42
Current number of staff: 47
 
A State of Passion

Directors: Carol Mansour and Muna Khalidi

Stars: Dr Ghassan Abu-Sittah

Rating: 4/5

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Specs
Engine: Electric motor generating 54.2kWh (Cooper SE and Aceman SE), 64.6kW (Countryman All4 SE)
Power: 218hp (Cooper and Aceman), 313hp (Countryman)
Torque: 330Nm (Cooper and Aceman), 494Nm (Countryman)
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Price: From Dh158,000 (Cooper), Dh168,000 (Aceman), Dh132,000 (Countryman)
Young women have more “financial grit”, but fall behind on investing

In an October survey of young adults aged 16 to 25, Charles Schwab found young women are more driven to reach financial independence than young men (67 per cent versus. 58 per cent). They are more likely to take on extra work to make ends meet and see more value than men in creating a plan to achieve their financial goals. Yet, despite all these good ‘first’ measures, they are investing and saving less than young men – falling early into the financial gender gap.

While the women surveyed report spending 36 per cent less than men, they have far less savings than men ($1,267 versus $2,000) – a nearly 60 per cent difference.

In addition, twice as many young men as women say they would invest spare cash, and almost twice as many young men as women report having investment accounts (though most young adults do not invest at all). 

“Despite their good intentions, young women start to fall behind their male counterparts in savings and investing early on in life,” said Carrie Schwab-Pomerantz, senior vice president, Charles Schwab. “They start off showing a strong financial planning mindset, but there is still room for further education when it comes to managing their day-to-day finances.”

Ms Schwab-Pomerantz says parents should be conveying the same messages to boys and girls about money, but should tailor those conversations based on the individual and gender.

"Our study shows that while boys are spending more than girls, they also are saving more. Have open and honest conversations with your daughters about the wage and savings gap," she said. "Teach kids about the importance of investing – especially girls, who as we see in this study, aren’t investing as much. Part of being financially prepared is learning to make the most of your money, and that means investing early and consistently."

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SPECS%3A%20Polestar%203
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