Turbines are seen at the Tafila wind farm in southern Jordan in a renewable energy project where Masdar operates the 117MW Tafila Wind farm in Jordan. Salah Malkawi / The National
Turbines are seen at the Tafila wind farm in southern Jordan in a renewable energy project where Masdar operates the 117MW Tafila Wind farm in Jordan. Salah Malkawi / The National

The UAE is well placed to take the lead in renewable energy storage



Global energy markets have been in flux for the past decade. Prices of solar and wind power are at record lows, natural gas is trading well below its historical average and oil prices are a fraction of where they were just a few years ago. Today’s low-cost environment is opening up new options for electricity generation, just as energy storage technology is coming of age.

Solar and wind power has its limitations for the Middle East and North Africa as it only generates electricity when the sun is shining or wind is blowing – falling short at peak demand times in the evenings. In order to provide 24/7 service, renewable energy needs to be paired with a back-up supply, from baseload fuel sources such as natural gas, or from batteries.

Large companies are already investing heavily in energy storage batteries to meet growing demand for reinforcement of renewable energy supplies, in developed and emerging markets. Energy storage is also a growing area of focus for entrepreneurs, including in this region. At the World Economic Forum’s regional meeting in Jordan from May 19-21, we will hear from a number of small businesses who are at the crest of this critical market change.

For example, Energy24, based in Lebanon, has developed technology that can store and manage electrical power that provides 60 per cent savings over conventional generators, without the noise, pollution or carbon emissions. In Morocco, eLum has developed software that uses artificial intelligence to manage on-grid and off-grid energy costs for large industry.

For governments across Mena, including the UAE, the emergence of an energy storage market opens up a new set of decisions about how best to generate and distribute electricity. Critically, it offers the chance to lock in low-cost, emissions-free renewable energy for domestic consumption while reserving oil and natural gas for export.

Several Mena countries have already begun exploring energy storage as a way to integrate new renewable generation resources and improve the stability and reliability of national grids. The outcome of a recent solar photovoltaic tender in Jordan that included battery storage indicates that dependable electricity supply using solar power can be achieved at extremely cost-competitive pricing compared to fossil fuels.

While energy storage technology remains young, the market is poised for dramatic expansion. Battery storage deployment in emerging markets could grow 40-fold in the coming decade as more countries bet on its value as a solar and wind back-up, according to research commissioned this year by my institution, the International Finance Corporation, as well as the World Bank’s Energy Sector Management Assistance Programme and the US department of energy.

The UAE has been at the forefront of global energy markets with its successful renewable energy auctions, and is now in an excellent position to also take a leadership role in energy storage, a young market with great potential. Supporting this technology would benefit the country and region, and also send a clear signal to the world of where we are headed next.

Philippe Le Houerou is the CEO of International Finance Corporation, the private sector arm of the World Bank Group.

business@thenational.ae

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Artist: Linkin Park

Label: Warner Records

Number of tracks: 11

Rating: 4/5

Disclaimer

Director: Alfonso Cuaron 

Stars: Cate Blanchett, Kevin Kline, Lesley Manville 

Rating: 4/5

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Name: Almnssa
Started: August 2020
Founder: Areej Selmi
Based: Gaza
Sectors: Internet, e-commerce
Investments: Grants/private funding
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Engine: 3.9-litre twin-turbo V8
Power: 620hp from 5,750-7,500rpm
Torque: 760Nm from 3,000-5,750rpm
Transmission: Eight-speed dual-clutch auto
On sale: Now
Price: From Dh1.05 million ($286,000)

How green is the expo nursery?

Some 400,000 shrubs and 13,000 trees in the on-site nursery

An additional 450,000 shrubs and 4,000 trees to be delivered in the months leading up to the expo

Ghaf, date palm, acacia arabica, acacia tortilis, vitex or sage, techoma and the salvadora are just some heat tolerant native plants in the nursery

Approximately 340 species of shrubs and trees selected for diverse landscape

The nursery team works exclusively with organic fertilisers and pesticides

All shrubs and trees supplied by Dubai Municipality

Most sourced from farms, nurseries across the country

Plants and trees are re-potted when they arrive at nursery to give them room to grow

Some mature trees are in open areas or planted within the expo site

Green waste is recycled as compost

Treated sewage effluent supplied by Dubai Municipality is used to meet the majority of the nursery’s irrigation needs

Construction workforce peaked at 40,000 workers

About 65,000 people have signed up to volunteer

Main themes of expo is  ‘Connecting Minds, Creating the Future’ and three subthemes of opportunity, mobility and sustainability.

Expo 2020 Dubai to open in October 2020 and run for six months

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Publisher:  Activision
Console: PlayStation 4 & 5, Windows, Xbox One & Series X/S
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Thalassaemia is part of a family of genetic conditions affecting the blood known as haemoglobin disorders.

Haemoglobin is a substance in the red blood cells that carries oxygen and a lack of it triggers anemia, leaving patients very weak, short of breath and pale.

The most severe type of the condition is typically inherited when both parents are carriers. Those patients often require regular blood transfusions - about 450 of the UAE's 2,000 thalassaemia patients - though frequent transfusions can lead to too much iron in the body and heart and liver problems.

The condition mainly affects people of Mediterranean, South Asian, South-East Asian and Middle Eastern origin. Saudi Arabia recorded 45,892 cases of carriers between 2004 and 2014.

A World Health Organisation study estimated that globally there are at least 950,000 'new carrier couples' every year and annually there are 1.33 million at-risk pregnancies.

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Stars: Suriya, Bobby Deol, Disha Patani, Yogi Babu, Redin Kingsley
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World Series: South Africa
Women’s World Series: Australia
Gulf Men’s League: Dubai Exiles
Gulf Men’s Social: Mediclinic Barrelhouse Warriors
Gulf Vets: Jebel Ali Dragons Veterans
Gulf Women: Dubai Sports City Eagles
Gulf Under 19: British School Al Khubairat
Gulf Under 19 Girls: Dubai Exiles
UAE National Schools: Al Safa School
International Invitational: Speranza 22
International Vets: Joining Jack

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Name: HyperSpace
 
Started: 2020
 
Founders: Alexander Heller, Rama Allen and Desi Gonzalez
 
Based: Dubai, UAE
 
Sector: Entertainment 
 
Number of staff: 210 
 
Investment raised: $75 million from investors including Galaxy Interactive, Riyadh Season, Sega Ventures and Apis Venture Partners

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Trump has so far secured 295 Electoral College votes, according to the Associated Press, exceeding the 270 needed to win. Only Nevada and Arizona remain to be called, and both swing states are leaning Republican. Trump swept all five remaining swing states, North Carolina, Georgia, Pennsylvania, Michigan and Wisconsin, sealing his path to victory and giving him a strong mandate. 

 

Popular Vote Tally

The count is ongoing, but Trump currently leads with nearly 51 per cent of the popular vote to Harris’s 47.6 per cent. Trump has over 72.2 million votes, while Harris trails with approximately 67.4 million.

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UAE squad

Rahul Chopra (captain), Aayan Afzal Khan, Ali Naseer, Aryansh Sharma, Basil Hameed, Dhruv Parashar, Junaid Siddique, Muhammad Farooq, Muhammad Jawadullah, Muhammad Waseem, Omid Rahman, Rahul Bhatia, Tanish Suri, Vishnu Sukumaran, Vriitya Aravind

Fixtures

Friday, November 1 – Oman v UAE
Sunday, November 3 – UAE v Netherlands
Thursday, November 7 – UAE v Oman
Saturday, November 9 – Netherlands v UAE

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