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Report: Green energy can save Middle Eastern economies

April 30, 2020 at 3:50 pm

Electricity power lines, 26 September 2017 [Paulnasca/Wikipedia]

A big cut in the use of fossil fuels for electricity generation by 2030 would save the Middle East and North Africa (MENA) money, according to a new research published by Energy Strategy Reviews.

The study presents several scenarios, including establishing fully renewable electricity grids independently in Middle East countries.

“Power-to-gas technology not only functions as seasonal storage by storing surplus electricity produced mainly from wind power and partially from solar, but also provides the required gas for the non-energetic industrial gas sector,” the study states.

Meanwhile, according to a new report released by the International Energy Agency (IEA) yesterday, the outbreak of COVID-19 would wipe out demand for fossil fuels by prompting a collapse in energy demand seven times greater than the slump caused by the global financial crisis.

READ: Italy’s energy giant Eni to review Middle East projects due to coronavirus

According to IEA, renewable electricity will be the only source resilient to the biggest global energy shock in 70 years triggered by the coronavirus pandemic.

In January, Qatar signed an agreement with French energy giant Total and Japan’s Marubeni to build a solar power plant capable of producing 800 megawatts, a tenth of the country’s peak energy demand as part of the Gulf state’s energy transition process.