Developing renewable energy projects in the Middle East
The Middle East presents a significant opportunity for participants in the renewable energy sector as new key markets begin to emerge.
The drivers behind the renewable energy push are by no means consistent across the region.
For a region which has long been associated with conventional energy, the transition to renewable intermittent technologies is not without its challenges, not least because much of what is being proposed involves brand new regulation, structures and technologies not previously tested.
The Eversheds Clean Energy and Sustainability Team is therefore delighted to announce the release of our latest publication in collaboration with Ernst & Young.
Developing Renewable Energy Projects: A guide to achieving success in the Middle East is a guide which examines the development potential in the key jurisdictions in the region.
Michelle T Davies, Global Head of Clean Energy and Sustainability at Eversheds, comments:
"Certain parts of the Middle East present some of the largest opportunities for renewable energy development the sector has experienced to date. Simply put, the potential is enormous. But it is also a new solution.
Clearly historic conventional independent power producer (IPP) processes and general renewable energy experience will be relevant but we are not dealing with conventional energy. We are dealing with intermittent technologies and in some jurisdictions the ability to self source sites. Traditional structures and regulations will need to be adapted to enable participants to secure bankable development assets under a power purchase agreement and grid structure appropriate to the technology output.
And the desert presents its own unique circumstances.
We found that we were being asked what were reasonably straightforward questions by our clients for which there was not always a straightforward answer. We felt a guide, which could provide a generic overview of each key market, would be helpful. It is a taster for each main jurisdiction.”
Developing renewable energy projects: A guide to achieving success in the Middle East sets out for each key market:
- the key drivers behind the renewable energy programme or approach
- how to go about setting up a business in that market
- the current regulatory framework for renewables
- the current IPP process for independent power producers
- how to secure developments sites.