ENPARK (Environment and Energy Park), a business park facilitating the growth of the energy and environment businesses in the Middle East and a member of TECOM Investments, has witnessed growth of 26 per cent during the first half of 2013, awarding licenses to eight new companies operating within the park, which boosts the total number of companies present to 48.
The announcement was made ahead of GulfSol, the first dedicated exhibition to the Photovoltaics and Solar industries in the MENA region commencing tomorrow at Dubai World Trade Centre.
According to the MENA Renewables Status Report 2013, issued by Meed Insight, more than 100 renewable energy projects including solar, wind and biomass are currently under development in the region. Renewable energy investment in the region grew by 40 per cent in 2012 compared with 2011, whereas worldwide investment in the sector reduced by 12 per cent. The report noted that regional investment topped $2.9 billion (AED10.6 billion), indicating that the sector is undergoing a transformation from niche market to regional phenomenon.
Saeed bin Ghubash, Director of ENPARK commented, “The demand for sustainable energy solutions is increasing at a staggering rate as governments across the GCC prioritize the diversification of energy resources. The price of implementing solar energy systems has fallen approximately 50 per cent since 2008, making solar a competitive resource – in addition to offering a more compelling solution in terms of sustainability. At ENPARK, a key part of our offering to the solar industry is the tailor-made facilities we provide to our business partners. This is essential to enable the industry to continue to thrive for the benefit of the region as a whole.
“GulfSol is an excellent platform for ENPARK to network with like-minded professionals and to discuss current trends and ideas for innovation. We will use the event to build our relationship with industry influencers and key decision makers whilst promoting the benefits offered by ENPARK to our business partners.
“Our aim is to build a business environment that fosters foreign direct investment and facilitates the synergies that favour innovation, knowledge sharing and effective collaboration. This is essential to ensure social and economic stability.” Saeed concluded.
Source: WAM
