Shams 1, a solar plant with the capacity to power 20,000 homes in Abu Dhabi, will be ready this year.
Shams 1, a solar plant with the capacity to power 20,000 homes in Abu Dhabi, will be ready this year.

UAE set to become major solar player in Middle East



DUBAI // The country’s solar-power industry is progressing but it will be a decade before it catches up with leading countries, experts say.

While most respondents to a survey expected moderate growth in the UAE’s solar industry in the next five years, more than 60 per cent expected that in a decade the industry become a major player in the region.

“This is where it [solar] becomes so attractive that you will have not one or two projects at a time, but as many as 15 major projects at the same time,” said Hannes Reinisch, a senior manager at PricewaterhouseCoopers, who presented the findings to the Solar Industry Summit in Dubai yesterday.

The survey, by the Emirates Solar Industry Association (Esia) and PricewaterhouseCoopers, collected feedback from 170 industry figures in the first half of the year.

The UAE is a latecomer to the industry compared with countries such as Spain and Germany.

So far, Abu Dhabi and Dubai have been following “a step-by-step process” in adopting solar capacity, said Mr Reinisch.

In 2009, the Abu Dhabi clean-energy company Masdar connected a 10-megawatt solar-photovoltaic plant into the capital’s power grid.

This year Shams 1, a power plant with a capacity of 100MW of electricity – enough to power 20,000 homes – will also start work, while Dubai has recently started building a 13MW plant.

But more projects are needed for solar power to become a substantial part of the country’s energy mix.

“In the Middle East things are slower to get established,” said Vahid Fotuhi, president of Esia.

“You need more time to establish frameworks, policies and a regulatory regime. As authorities start doing this, you will see solar technologies take root and grow.”

Mr Fotuhi said he was optimistic that Abu Dhabi and Dubai would adopt policies and legal frameworks for renewable energy.

This, along with efficient regulatory bodies and special tariffs for clean energy, were mentioned by most respondents as factors needed to support the industry.

“I am happy to say there are discussions and progress is being made and key government authorities in charge of this are working,” Mr Fotuhi said.

“This is happening now both in Dubai and Abu Dhabi.

"I am confident that by the next edition of this conference, we will see policies being introduced that allow for the growth of solar power.”

The new policies are expected to encourage small-scale installations on rooftops and other areas within cities.
Abu Dhabi and Dubai have previously referred to such schemes.

In July this year, Waleed Salman, chairman of the Dubai Carbon Centre, said Dubai planned to create “not less than 800MW” this way by 2030.

Yesterday, Taher Diab, director of strategy and planning at the Dubai Supreme Council of Energy, said the emirate was also working towards introducing better tariffs for clean-energy producers.

A draft document, outlining such tariffs in Dubai, is completed and about to be submitted to the Executive Council for approval, Mr Diab said.

Our legal consultant

Name: Hassan Mohsen Elhais

Position: legal consultant with Al Rowaad Advocates and Legal Consultants

A QUIET PLACE

Starring: Lupita Nyong'o, Joseph Quinn, Djimon Hounsou

Director: Michael Sarnoski

Rating: 4/5

COMPANY PROFILE

Company name: Almouneer
Started: 2017
Founders: Dr Noha Khater and Rania Kadry
Based: Egypt
Number of staff: 120
Investment: Bootstrapped, with support from Insead and Egyptian government, seed round of
$3.6 million led by Global Ventures

The burning issue

The internal combustion engine is facing a watershed moment – major manufacturer Volvo is to stop producing petroleum-powered vehicles by 2021 and countries in Europe, including the UK, have vowed to ban their sale before 2040. The National takes a look at the story of one of the most successful technologies of the last 100 years and how it has impacted life in the UAE.

Part three: an affection for classic cars lives on

Read part two: how climate change drove the race for an alternative 

Read part one: how cars came to the UAE

FROM THE ASHES

Director: Khalid Fahad

Starring: Shaima Al Tayeb, Wafa Muhamad, Hamss Bandar

Rating: 3/5

FA Cup semi-final draw

Coventry City v Manchester United 

Manchester City v Chelsea

- Games to be played at Wembley Stadium on weekend of April 20/21. 

MATCH INFO

World Cup qualifier

Thailand 2 (Dangda 26', Panya 51')

UAE 1 (Mabkhout 45+2')

ULTRA PROCESSED FOODS

- Carbonated drinks, sweet or savoury packaged snacks, confectionery, mass-produced packaged breads and buns 

- margarines and spreads; cookies, biscuits, pastries, cakes, and cake mixes, breakfast cereals, cereal and energy bars;

- energy drinks, milk drinks, fruit yoghurts and fruit drinks, cocoa drinks, meat and chicken extracts and instant sauces

- infant formulas and follow-on milks, health and slimming products such as powdered or fortified meal and dish substitutes,

- many ready-to-heat products including pre-prepared pies and pasta and pizza dishes, poultry and fish nuggets and sticks, sausages, burgers, hot dogs, and other reconstituted meat products, powdered and packaged instant soups, noodles and desserts.

COMPANY PROFILE

Name: Haltia.ai
Started: 2023
Co-founders: Arto Bendiken and Talal Thabet
Based: Dubai, UAE
Industry: AI
Number of employees: 41
Funding: About $1.7 million
Investors: Self, family and friends

Structural weaknesses facing Israel economy

1. Labour productivity is lower than the average of the developed economies, particularly in the non-tradable industries.
2. The low level of basic skills among workers and the high level of inequality between those with various skills.
3. Low employment rates, particularly among Arab women and Ultra-Othodox Jewish men.
4. A lack of basic knowledge required for integration into the labour force, due to the lack of core curriculum studies in schools for Ultra-Othodox Jews.
5. A need to upgrade and expand physical infrastructure, particularly mass transit infrastructure.
6. The poverty rate at more than double the OECD average.
7. Population growth of about 2 per cent per year, compared to 0.6 per cent OECD average posing challenge for fiscal policy and underpinning pressure on education, health care, welfare housing and physical infrastructure, which will increase in the coming years.

How to keep control of your emotions

If your investment decisions are being dictated by emotions such as fear, greed, hope, frustration and boredom, it is time for a rethink, Chris Beauchamp, chief market analyst at online trading platform IG, says.

Greed

Greedy investors trade beyond their means, open more positions than usual or hold on to positions too long to chase an even greater gain. “All too often, they incur a heavy loss and may even wipe out the profit already made.

Tip: Ignore the short-term hype, noise and froth and invest for the long-term plan, based on sound fundamentals.

Fear

The risk of making a loss can cloud decision-making. “This can cause you to close out a position too early, or miss out on a profit by being too afraid to open a trade,” he says.

Tip: Start with a plan, and stick to it. For added security, consider placing stops to reduce any losses and limits to lock in profits.

Hope

While all traders need hope to start trading, excessive optimism can backfire. Too many traders hold on to a losing trade because they believe that it will reverse its trend and become profitable.

Tip: Set realistic goals. Be happy with what you have earned, rather than frustrated by what you could have earned.

Frustration

Traders can get annoyed when the markets have behaved in unexpected ways and generates losses or fails to deliver anticipated gains.

Tip: Accept in advance that asset price movements are completely unpredictable and you will suffer losses at some point. These can be managed, say, by attaching stops and limits to your trades.

Boredom

Too many investors buy and sell because they want something to do. They are trading as entertainment, rather than in the hope of making money. As well as making bad decisions, the extra dealing charges eat into returns.

Tip: Open an online demo account and get your thrills without risking real money.

UAE athletes heading to Paris 2024

Equestrian
Abdullah Humaid Al Muhairi, Abdullah Al Marri, Omar Al Marzooqi, Salem Al Suwaidi, and Ali Al Karbi (four to be selected).
Judo
Men: Narmandakh Bayanmunkh (66kg), Nugzari Tatalashvili (81kg), Aram Grigorian (90kg), Dzhafar Kostoev (100kg), Magomedomar Magomedomarov (+100kg); women's Khorloodoi Bishrelt (52kg).

Cycling
Safia Al Sayegh (women's road race).

Swimming
Men: Yousef Rashid Al Matroushi (100m freestyle); women: Maha Abdullah Al Shehi (200m freestyle).

Athletics
Maryam Mohammed Al Farsi (women's 100 metres).

Gender pay parity on track in the UAE

The UAE has a good record on gender pay parity, according to Mercer's Total Remuneration Study.

"In some of the lower levels of jobs women tend to be paid more than men, primarily because men are employed in blue collar jobs and women tend to be employed in white collar jobs which pay better," said Ted Raffoul, career products leader, Mena at Mercer. "I am yet to see a company in the UAE – particularly when you are looking at a blue chip multinationals or some of the bigger local companies – that actively discriminates when it comes to gender on pay."

Mr Raffoul said most gender issues are actually due to the cultural class, as the population is dominated by Asian and Arab cultures where men are generally expected to work and earn whereas women are meant to start a family.

"For that reason, we see a different gender gap. There are less women in senior roles because women tend to focus less on this but that’s not due to any companies having a policy penalising women for any reasons – it’s a cultural thing," he said.

As a result, Mr Raffoul said many companies in the UAE are coming up with benefit package programmes to help working mothers and the career development of women in general. 

SPECS

Engine: Two-litre four-cylinder turbo
Power: 235hp
Torque: 350Nm
Transmission: Nine-speed automatic
Price: From Dh167,500 ($45,000)
On sale: Now

MATCH INFO

Championship play-offs, second legs:

Aston Villa 0
Middlesbrough 0

(Aston Villa advance 1-0 on aggregate)

Fulham 2
Sessegnon (47'), Odoi (66')

Derby County 0

(Fulham advance 2-1 on aggregate)

Final

Saturday, May 26, Wembley. Kick off 8pm (UAE) 

Confirmed bouts (more to be added)

Cory Sandhagen v Umar Nurmagomedov
Nick Diaz v Vicente Luque
Michael Chiesa v Tony Ferguson
Deiveson Figueiredo v Marlon Vera
Mackenzie Dern v Loopy Godinez

Tickets for the August 3 Fight Night, held in partnership with the Department of Culture and Tourism Abu Dhabi, went on sale earlier this month, through www.etihadarena.ae and www.ticketmaster.ae.

Conservative MPs who have publicly revealed sending letters of no confidence
  1. Steve Baker
  2. Peter Bone
  3. Ben Bradley
  4. Andrew Bridgen
  5. Maria Caulfield​​​​​​​
  6. Simon Clarke
  7. Philip Davies
  8. Nadine Dorries​​​​​​​
  9. James Duddridge​​​​​​​
  10. Mark Francois
  11. Chris Green
  12. Adam Holloway
  13. Andrea Jenkyns
  14. Anne-Marie Morris
  15. Sheryll Murray
  16. Jacob Rees-Mogg
  17. Laurence Robertson
  18. Lee Rowley
  19. Henry Smith
  20. Martin Vickers
  21. John Whittingdale
COMPANY PROFILE

Company name: Klipit

Started: 2022

Founders: Venkat Reddy, Mohammed Al Bulooki, Bilal Merchant, Asif Ahmed, Ovais Merchant

Based: Dubai, UAE

Industry: Digital receipts, finance, blockchain

Funding: $4 million

Investors: Privately/self-funded

COMPANY PROFILE

Company name: 3S Money
Started: 2018
Based: London
Founders: Ivan Zhiznevsky, Eugene Dugaev and Andrei Dikouchine
Sector: FinTech
Investment stage: $5.6 million raised in total

BELGIUM SQUAD

Goalkeepers: Thibaut Courtois, Simon Mignolet, Koen Casteels

Defenders: Jan Vertonghen, Toby Alderweireld, Leander Dendoncker, Zeno Debast, Arthur Theate, Wout Faes

Midfielders: Hans Vanaken, Axel Witsel, Youri Tielemans, Amadou Onana, Kevin De Bruyne, Yannick Carrasco, Thorgan Hazard, Timothy Castagne, Thomas Meunier

Forwards: Romelu Lukaku, Michy Batshuayi, Loïs Openda, Charles De Ketelaere, Eden Hazard, Jeremy Doku, Dries Mertens, Leandro Trossard


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