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S01 WFES Day 3 2015 Start_Layout 1 20/01/2015 17:25 Page 3

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Enviromena looks forward to continued growth THE RECENT steep decline in oil prices and their long term volatility only strengthen the case for solar as a dependable and predictable source of energy, according to Sami Khoreibi, CEO of solar PV plant developer Enviromena Power Systems. “Once you install a solar power system you can rely on at least 25 years of power production, and we have seen a constant decline in the cost of solar energy year on year,” he says. “While the oil industry fears a fall in oil prices, the solar industry cheers on a decline in the cost of solar energy – it’s a different way of viewing things.” Highlighting the growth in the solar industry throughout the Middle East and North Africa, Khoreibi comments, “If you look at the announced and signed solar projects on a country by country basis, 2015 will be a record year. Enviromena is seeing tremendous activity in more countries than ever before, both in terms of the number of projects we are working on and in terms of the increasing diversity of our clients, whether governments, private developers or independent companies looking to reduce their dependency on high cost grid energy. “Rooftop solar offers particularly strong growth prospects, he adds. “We’ve completed dozens of rooftop projects across the region, mainly in the UAE, but also in Qatar and Kuwait, which play a useful role in complement existing power grids, given that they are producing onsite energy that is addressing the peak demand load.” Rooftop solar also has a very positive impact in terms of creating jobs and encouraging local manufacture, says Khoreibi. “We will be focusing on locally sourced components and working with local contractors and installers as far as possible on Dubai’s recently announced solar rooftop programme. Maximising the utilisation of the local resource is also the most economic way for us conduct these projects, so it’s a win-win situation. "There is a high correlation between the regulatory environment and economics," Khoreibi goes on. "Once the economics become compelling enough, the regulatory environment becomes very easy, and as long as we are allowed to connect solar onto grids, the appropriate regulations are there for us to do that at scale. It is

Enviromena Power Systems CEO Sami Khoreibi (centre) with Erik Voldner, executive director - operations (left) and Sander Trestain, executive director – projects (right) still early days in terms of installed capacity throughout the region for solar projects so our impact in bringing this new energy on to to the grid is still relatively low; it’s going to be a period of very high growth. We expect the regulatory environment to facilitate this growth as we are providing a more economic source of energy which is welcomed by governments throughout the region." Commenting on feed in tariffs as opposed to net metering, Khoreibi remarks that net metering becomes more attractive as the cost of solar energy declines, while feed in tariffs were positive en-

ablers of solar power systems when costs were high. “Today we don’t really require feed in tariffs although we continue to welcome them. Net metering is just as effective in many ways.” Established in Abu Dhabi, Enviromena built the first utility scale solar power plant in Abu Dhabi for Masdar in 2008, and is now active in utility scale, roof top and commercial applications throughout the MENA region. Stand no: 7540

World Future Energy Summit 2015 - Day Three  

World Future Energy Summit 2015 - Day Three

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