Power-Gen meet to discuss $250bn energy projects

January 27, 2013 - 4:41:00 am

DOHA: Energy projects worth nearly $250bn will be discussed at the forthcoming Doha Power-Gen Middle East conference. 

As many as 200 planned and announced ventures valued between $100m and $20bn will be the focus of discussion at the conference.

The event organisers PennWell Corp said the conference will explore new venture investments, intellectual property, enhanced technology solutions, management skills and innovative new products. 

Investments in the renewable energy will be another key area of discussion. According to a study by the Saudi-based Arab Petroleum Investment Corporation (Apicorp), an affiliate of the 10-nation Organisation of Arab Petroleum Exporting Countries (OAPEC) including Qatar, global new investment in renewable power and fuels  increased by 17 per cent to reach an all-time high of $257bn in 2011. 

Actual investment in renewable energy amounts to $325bn when adding $68bn worth of merger and acquisition transactions in 2011, the organisers noted.

The regional pattern of investment appears markedly uneven, with two thirds of investment originated in developed economies and one third in the developing ones. 

Despite a decline of such investments in Germany — the world’s third biggest market after China and the US —  Europe remained by far the most important investment area. 

Despite some tentative advances in the region, progress has generally been disappointing. According to the report, total renewable energy investment in the Middle East and Africa reached $5.5bn in 2011, representing 2.1 percent of the world total. 

This poor performance was made even worse by a fall in investment of 18 percent compared with 2010, the PenWell said.

More than 100 experts from over 20 countries will address different sessions on issues ranging from challenges and opportunities for power project development, maximizing  the region’s existing grid potential and tomorrow’s alternatives, renewable energy technologies and integration and operation and maintenance.

The Peninsula