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Renewable Energy

Renewable energy is one of the core pillar investments in Emirates Fortune Group’s portfolio. The MENA region is home to more than half of the world’s crude oil and more than a third of its natural gas reserves. For the past fifty years, the MENA region has gained enormous significance as a global producer and exporter of energy. The MENA region is already a major energy consumer, and is forecasted to continue to account, along Asia, for the majority of the world’s energy demand growth well into the 2030s, placing domestic energy policies at the heart of the region’s economic agenda for the coming decades. Renewable energy most importantly solar and wind power, with its particular climatic advantage – could play a significant role as a cost competitive alternative to conventional fossil fuels. The absence of cost reflective energy and electricity tariffs in the MENA region today currently conceals this potential cost advantage and leaves renewable energy deployment subject to further, economically distorting, policies such as renewables targets and fiscal incentives. Thereby allowing a systematical opening up the economic opportunities offered by the renewable energy investment opportunity to the MENA region.