GCC requires $50 billion worth grid-related investments: Report

BUSINESS REPORTER

The GCC could require nearly $50 billion of grid-related investments to support proposed capacity additions from renewables, according to Clean Energy – Going Beyond the Grid, a whitepaper prepared by Frost & Sullivan for Middle East Energy, the MENA region’s most reputable and comprehensive event for the energy sector.

The whitepaper revealed that for the GCC to diversify its power mix, investment in large-scale renewables capacity additions is required and would need corresponding increased investment in transmission and distribution networks to eliminate inadequacies.

In line with the expected increase in grid-related investments, a report titled Global Power Transmission and Distribution Equipment Industry has highlighted the transmission and distribution equipment industry is expected to top $312.8 billion globally by 2026, further underscoring its importance as a central theme when Middle East Energy, formally Middle East Electricity, returns to the Dubai World Trade Centre from 7-9 March 2022.

Azzan Mohammed, Exhibition Director, Global Energy & Utilities Forum and Middle East Energy, said: “At the very centre of harnessing renewable energy and making it available for consumers is effective transmission and distribution networks, which is why the sector continues to play a prominent role at the Middle East Energy exhibition and during dedicated conference sessions.

“With the value of the transmission and distribution equipment industry continuing to grow exponentially, a range of market leaders have already confirmed their attendance at Middle East Energy and will be showcasing the latest technologies and innovations supporting the delivery of renewable energy to end-users and, ultimately, delivering on the regions net-zero commitments.”

In addition, a range of in-depth sessions as part of the Global Energy & Utilities Forum, including Grids of the Future, will address pressing industry issues, such as digital technologies for stabilising grids during the energy transition; the role of machine learning and AI in future grids; and the rise of the ‘prosumer’, someone who both produces and consumes energy, and their impact on grid development.