Nov 07, 2018 (China Knowledge) - China and the Arab League (AL) have formed an agreement to construct a clean energy training center in Beijing for projects in the field of solar and wind power together with smart grid technologies.
Developing clean energy to hit energy capacity from multiple sources will promote energy transition efforts and environmental development in the Arab world and will be an opportunity for both Chinese and Middle Eastern firms.
According to Liu Baohua, deputy director of China’s National Energy Administration, China and Arab states should cooperate on projects related to the clean energy training center to promote policy planning and technological communications. In addition, they should also engage the World Bank (WB), Asian Infrastructure Investment Bank (AIIB) and other financial institutions to develop a cooperation model which involves both the energy and finance sectors.
Cooperation between China and the Arab states in the energy sector will create a large market and bring about economic development for the countries involved. Furthermore, the Arab states will also be able to take advantage of China’s technologies and rich experience in solar power generation to advance their technologies rapidly.
Last year the UAE announced plans to invest USD 163 billion into renewable energy development to increase its clean energy supply to 50% of domestic energy consumption. Egypt also plans to increase its energy generated from clean energy to 20% by 2022 and 40% by 2035. Other Arab states such sas Saudi Arabia and Kuwait also plan to follow suit.
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