Financiers are now exploring the potential benefits of investment in innovative renewable energy technologies as the growing MENA population puts pressure on existing energy reserves. The Middle East is strategically important for renewable energy adoption owing to high solar irradiance levels and some of the most variable wind speeds. Current restraints in existing technology have led developers to produce innovative solutions to combat issues such as dust pollution levels.
Jordan’s renewable energy sector has grown in strategic significance as governments from across the region set ambitious targets and approve increases in public spending for projects. As developers seek financial and legal options for renewable energy projects, this has become a key area for discussion within the Powering Middle East Summit. We have invited a small number of law firms and financiers to aid public and private sector stakeholders to identify and overcome political, regulation and legislative and financial barriers.
In response to these issues, we have appointed Michelle T Davies of Eversheds to our ‘Agenda Advisory Board’. Eversheds Clean Energy and Sustainability Group have advised on over 30GW of renewable energy projects including solar, wind, geothermal and hydro technologies from initial Capital Raising through to the construction of the project. Michelle Davies, who has also been awarded MESIA Solar Woman of the Year, has personally advised MENA governments and policy makers across all variants of renewable technology, this makes her a valuable source of experience at the Summit.
Michelle commented “Growth in the Renewable Energy sector has rocketed, encouraging developers to realise their investment potential for innovative solar and wind technologies throughout the MENA Market. I have worked with stakeholders from both the public and private sectors across Middle Eastern regions and look forward to discussing my experiences with delegates looking to develop relationships within this sector.”
We look forward to working with Michelle and Eversheds over the coming months. Financiers and Law firms are an integral part to getting renewable projects out of the planning stage and into production. If your firm should be involved with the Summit, please register your details for a call-back from our Powering Middle East Project Manager. www.ese-power.com/register