Dr. Maged Mahmoud, Technical Director of the Regional Centre for Renewable Energy and Energy Efficiency (RCREEE), stated that the commitments at COP28 to triple renewable energy capacity for power generation and double energy efficiency will lead to a twofold increase in renewable energy in the Arab region by 2030, amounting to 10 times the current production capacity.
In a statement to the Emirates News Agency (WAM) on the sidelines of COP28, he said that the conference embodied the pledges of countries to save the planet, which will inevitably lead to investments in all countries, expansions in the electrical grid, and a significant reduction in emissions, along with achieving economic returns for Arab countries and providing many job opportunities, steps that he described “a real success story" for COP28.
Mahmoud stated that the contribution of renewable energy in the Arab world represents 7% of the total installed capacities, which range between 23,000 and 25,000 megawatts, pointing out that the Arab region presents projects that clearly illustrate the competitiveness of renewable energy, as the prices of renewable energy in the UAE, Egypt, Jordan and Morocco compete with global prices.
He stressed that the Arab world has huge resources in renewable energy, the most important of which are solar energy and wind energy, thanks to its geographical location.
He added that commitments made at COP28 are a sign of progress in the global fight against climate change and that there is a consensus that renewable energy is the only way to mitigate global warming and prevent catastrophic climate change.
RCREEE is an intergovernmental organisation with diplomatic status that aims to enable and increase the adoption of renewable energy and energy efficiency practices across pan-Arab countries. It is the official technical arm institution of both the League of Arab States and Energy Department and the Arab Ministerial Council for Electricity (AMCE).
RCREEE teams up with governments, international organisations, IFIs and the Private Sector via several forms of partnerships to initiate and lead clean energy policy dialogues, strategies, technologies, managing the facilitation of RE investment platforms and capacity development in order to increase Arab states’ share of tomorrow’s modern energy solutions.
Having today 17 Arab countries among its members, RCREEE strives to lead renewable energy and energy efficiency initiatives and expertise in all Arab states based on its strategic plan approved by its Board of Trustees.