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GCC to spend $252 Billion on energy over next 5 years
Published in Bikya Masr on 27 - 08 - 2012

DUBAI: Pushing better energy models has been a stalwart of the Gulf Cooperation Council (GCC) countries in recent years. Now, the GCC is looking to continue that effort by spending some $252 billion over the next five years to increase energy production.
Among the projects on tap are new power production plants, distribution systems and supply grids, the Emirates official news agency WAM reported.
In its report it said that “in the United Arab Emriates (UAE), Shams 1 will be one of the world's largest concentrated solar power plants, with a capacity of 100 megawatts.”
It comes as the GCC continues to suffer rising energy bills and higher infrastructure costs, but the new investments are aimed also at looking at alternative energy sources, including green technology.
Energy-efficient projects, including new lighting systems – 19 percent of all electricity worldwide comes from lighting – and design will be invested in by the GCC.
Epoc Messe Frankfurt, organizers of Light Middle East 2011, the key regional trade platform for lighting design and technology, have reported considerable interest in the energy and cost-saving potential of modern lighting systems.
“With energy becoming ever more expensive, there is huge interest in the cost-reduction potential afforded by new technology,” said Ahmed Pauwels, Chief Executive Officer of Epoc Messe Frankfurt.
“And it is not just the high costs — there is also increasing awareness on the environmental effects of climate change,” he said.
“It is predicted that the use of energy efficient lighting solutions — all of which already exist today, but are not widely implemented — could save an average of 40 percent per year in terms of CO2 emissions and in energy costs,” Pauwels stated.


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