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Released October 27, 2014 | JOHANNESBURG
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Written by Richard Finlayson, Senior International Editor for Industrial Info Resources (Sugar Land, Texas)--A joint development agreement has been signed between Masdar, Abu Dhabi's renewable energy company, and Raeco, Oman's rural electricity company, to build the first large-scale windfarm in the Gulf Cooperation Council region.
The 50-megawatt (MW) project, which will involve a $125 million investment, will have 25 wind turbines and generate enough electricity to power 16,000 homes. It will mitigate 110,000 tonnes of CO2 emissions annually. Construction on the project will begin in the first quarter of 2015 in the Dhofar governorate.
Sultan Ahmed Al Jaber, United Arab Emirates' (UAE) minister of state and chairman of Masdar, said: "The region is rapidly adopting renewable energy as a viable solution to meet growing electricity demands and to address long-term resource security. The Oman wind project is a prime example of how clean energy can deliver reliable power supplies and improve energy security, while also supporting a transition to a low-carbon future."
"The UAE is a first mover, and the country is extending its global energy leadership through the deployment of wind and solar power domestically and internationally," he added. "Through Masdar, the UAE is proving that renewable are both competitive commercially and essential to diversifying the global energy mix."
Masdar has delivered large-scale renewable energy projects in the region and worldwide. It delivered the offshore London Array and is in a consortium constructing the 402-MW Dudgeon windfarm in the U.K. It also is working on the 117-MW Tafila onshore windfarm in Jordan.
View Project Report - 78000407
The Dhofar windfarm will meet 50% of the region's energy requirements during winter. It also will reduce reliance on traditional sources of energy, such as gas, which can be redirected toward more valuable industrial uses and extend the life of the region's hydrocarbon reserves.
Supporting Masdar's wind and renewable energy strategy, the Global Wind Energy Outlook 2014 report says that with 318 gigawatts (GW) of windpower installed in 90 countries at the end of 2013, growth in the sector has been flat in the past few years at about 40 GW per year. This is due to the economic crisis, low growth in wealthy countries and political instability.
The report, issued by Greenpeace and the Global Wind Energy Council (GWEC), forecasts that annual growth could reach 90 GW per year going forward, and that by 2030, windpower could meet nearly 20% of global electricity demand.
For related information, see September 30, 2014, article - Masdar Buys L525 Million Stake in U.K. Windfarm, and October 9, 2014, article - Gulf Cooperation Council Investments Drive Power Demand Through 2020.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, three offices in North America and 10 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities.
The 50-megawatt (MW) project, which will involve a $125 million investment, will have 25 wind turbines and generate enough electricity to power 16,000 homes. It will mitigate 110,000 tonnes of CO2 emissions annually. Construction on the project will begin in the first quarter of 2015 in the Dhofar governorate.
Sultan Ahmed Al Jaber, United Arab Emirates' (UAE) minister of state and chairman of Masdar, said: "The region is rapidly adopting renewable energy as a viable solution to meet growing electricity demands and to address long-term resource security. The Oman wind project is a prime example of how clean energy can deliver reliable power supplies and improve energy security, while also supporting a transition to a low-carbon future."
"The UAE is a first mover, and the country is extending its global energy leadership through the deployment of wind and solar power domestically and internationally," he added. "Through Masdar, the UAE is proving that renewable are both competitive commercially and essential to diversifying the global energy mix."
Masdar has delivered large-scale renewable energy projects in the region and worldwide. It delivered the offshore London Array and is in a consortium constructing the 402-MW Dudgeon windfarm in the U.K. It also is working on the 117-MW Tafila onshore windfarm in Jordan.
View Project Report - 78000407
The Dhofar windfarm will meet 50% of the region's energy requirements during winter. It also will reduce reliance on traditional sources of energy, such as gas, which can be redirected toward more valuable industrial uses and extend the life of the region's hydrocarbon reserves.
Supporting Masdar's wind and renewable energy strategy, the Global Wind Energy Outlook 2014 report says that with 318 gigawatts (GW) of windpower installed in 90 countries at the end of 2013, growth in the sector has been flat in the past few years at about 40 GW per year. This is due to the economic crisis, low growth in wealthy countries and political instability.
The report, issued by Greenpeace and the Global Wind Energy Council (GWEC), forecasts that annual growth could reach 90 GW per year going forward, and that by 2030, windpower could meet nearly 20% of global electricity demand.
For related information, see September 30, 2014, article - Masdar Buys L525 Million Stake in U.K. Windfarm, and October 9, 2014, article - Gulf Cooperation Council Investments Drive Power Demand Through 2020.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, three offices in North America and 10 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities.
