ABU DHABI // Dubai’s announcement that it planned to triple its renewable-energy target was more good news for solar companies after a buoyant 2014, a leading solar entrepreneur has said.
Sami Khoreibi, the chief executive and founding partner of local solar installer Enviromena Power Systems, said raising Dubai’s 2030 renewables target to 15 per cent was “incredibly exciting news”.
The decision, he said, made economic sense considering the rapidly falling prices of solar photovoltaic (PV) technologies. At a tender last year Dubai Electricity and Water Authority was offered a rate of US$5.98 (Dh22) per kilowatt hour (kWh) for the energy output of a proposed 100 megawatt solar plant.
The decision was then made to double the size of the plant, achieving a further cost reduction to $5.84 per kWh from the company that is to build and operate the plant.
“The cost of PV energy being proposed in Dubai is competitive virtually with all kinds of traditional sources of energy,” said Mr Khoreibi.
“When the 5 per cent target came out, solar was at a higher price and, although there was an economic case to be made at that point, there was also a very strong underlying environmental case,” he said. “That environmental case still exists today but it is being complemented with the fact that it is potentially the lowest cost of energy that you could get on a very stable basis.”
Mr Khoreibi’s Abu Dhabi company has been operating a Dubai office for more than a year now and he said that a decision to allow the owners of smaller-scale solar systems to feed energy into the electrical grid was another reason for optimism.
“The recent announcement of a solar rooftop programme has been very positive news as well because we see that as a unique and first step of distributed solar being integrated into the Dubai grid,” he said. “Our expectation is that there is going to be a very positive response by business owners, roof owners and, of course, solar companies to be involved in this programme as well.”
Abu Dhabi, as well as other areas in the region, were also expected to come up with more solar plans, said Mr Khoreibi.
“We expect exponential growth in the region so it is going to be very exciting, not just in Dubai but in Abu Dhabi, Egypt, Jordan, Morocco, multiple countries throughout the region are going to be very, very active over the next 12 months,” he said.
vtodorova@thenational.ae
Living in...
This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home.
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Company%20Profile
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COMPANY%20PROFILE
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Profile of Hala Insurance
Date Started: September 2018
Founders: Walid and Karim Dib
Based: Abu Dhabi
Employees: Nine
Amount raised: $1.2 million
Funders: Oman Technology Fund, AB Accelerator, 500 Startups, private backers
COMPANY%20PROFILE
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MATCH INFO
Uefa Champions League semi-final, first leg
Bayern Munich v Real Madrid
When: April 25, 10.45pm kick-off (UAE)
Where: Allianz Arena, Munich
Live: BeIN Sports HD
Second leg: May 1, Santiago Bernabeu, Madrid
Confirmed%20bouts%20(more%20to%20be%20added)
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Thor: Ragnarok
Dir: Taika Waititi
Starring: Chris Hemsworth, Tom Hiddleston, Cate Blanchett, Jeff Goldblum, Mark Ruffalo, Tessa Thompson
Four stars
The five pillars of Islam
The specs
Engine: 2.7-litre 4-cylinder Turbomax
Power: 310hp
Torque: 583Nm
Transmission: 8-speed automatic
Price: From Dh192,500
On sale: Now
TRAP
Starring: Josh Hartnett, Saleka Shyamalan, Ariel Donaghue
Director: M Night Shyamalan
Rating: 3/5
A cryptocurrency primer for beginners
Cryptocurrency Investing for Dummies – by Kiana Danial
There are several primers for investing in cryptocurrencies available online, including e-books written by people whose credentials fall apart on the second page of your preferred search engine.
Ms Danial is a finance coach and former currency analyst who writes for Nasdaq. Her broad-strokes primer (2019) breaks down investing in cryptocurrency into baby steps, while explaining the terms and technologies involved.
Although cryptocurrencies are a fast evolving world, this book offers a good insight into the game as well as providing some basic tips, strategies and warning signs.
Begin your cryptocurrency journey here.
Available at Magrudy’s , Dh104
Blackpink World Tour [Born Pink] In Cinemas
Starring: Rose, Jisoo, Jennie, Lisa
Directors: Min Geun, Oh Yoon-Dong
Rating: 3/5
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Results
1. Mathieu van der Poel (NED) Alpecin-Fenix - 3:45:47
2. David Dekker (NED) Jumbo-Visma - same time
3. Michael Morkov (DEN) Deceuninck-QuickStep
4. Emils Liepins (LAT) Trek-Segafredo
5. Elia Viviani (ITA) Cofidis
6. Tadej Pogacar (SLO UAE Team Emirates
7. Anthony Roux (FRA) Groupama-FDJ
8. Chris Harper (AUS) Jumbo-Visma - 0:00:03
9. Joao Almeida (POR) Deceuninck-QuickStep
10. Fausto Masnada (ITA) Deceuninck-QuickStep
Company%20Profile
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Mohammed bin Zayed Majlis
Libya's Gold
UN Panel of Experts found regime secretly sold a fifth of the country's gold reserves.
The panel’s 2017 report followed a trail to West Africa where large sums of cash and gold were hidden by Abdullah Al Senussi, Qaddafi’s former intelligence chief, in 2011.
Cases filled with cash that was said to amount to $560m in 100 dollar notes, that was kept by a group of Libyans in Ouagadougou, Burkina Faso.
A second stash was said to have been held in Accra, Ghana, inside boxes at the local offices of an international human rights organisation based in France.
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MATCH INFO
What: 2006 World Cup quarter-final
When: July 1
Where: Gelsenkirchen Stadium, Gelsenkirchen, Germany
Result:
England 0 Portugal 0
(Portugal win 3-1 on penalties)
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ARGYLLE
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The specs
Engine: four-litre V6 and 3.5-litre V6 twin-turbo
Transmission: six-speed and 10-speed
Power: 271 and 409 horsepower
Torque: 385 and 650Nm
Price: from Dh229,900 to Dh355,000
TWISTERS
Director: Lee Isaac Chung
Starring: Glen Powell, Daisy Edgar-Jones, Anthony Ramos
Rating: 2.5/5
COMPANY%20PROFILE
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Off-roading in the UAE: How to checklist
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World Cup final
Who: France v Croatia
When: Sunday, July 15, 7pm (UAE)
TV: Game will be shown live on BeIN Sports for viewers in the Mena region
SPECS
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How to protect yourself when air quality drops
Install an air filter in your home.
Close your windows and turn on the AC.
Shower or bath after being outside.
Wear a face mask.
Stay indoors when conditions are particularly poor.
If driving, turn your engine off when stationary.
Our Time Has Come
Alyssa Ayres, Oxford University Press