Featured in Beyond low MENA tenders – 01-2019

Tender reassurance

Walking along Dubai’s Jumeirah Beach Residence area in 2013, there was a sign that read: “Keep Calm, We Still Have Oil.” Despite the United Arab Emirates (UAE) kick-starting the region’s first commercial solar power project only five years earlier, the country remained focused on its black gold – as did its neighbors.

By

pv magazine

15 Jan 2019

Dubai’s Mohammed Bin Rashid Al Maktoum Solar Park | Image: DEWA

Oil prices dipped in mid-2014, and while other oil producing regions suffered, the Middle East maintained its economic position. However, sustained oil market volatility lasting three years left the six-member Gulf Cooperation Council (GCC) scrambling to put into action new ways of revenue generation. With smaller government coffers and electricity demand growing by more …

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