Boston, MA -- (SBWire) -- 08/09/2013 --Our Q3 forecasts for Canada's renewables industry remain virtually the same from Q2 as our key view of the market remains in place. In particular, we maintain that confronted by a sustained increase in demand over our 10-year forecast period, the UAE authorities at both federal and emirate levels will continue to prioritise generating capacity expansion programmes. Although we question whether targets will be met with the anticipated speed, the government and its parastatal utilities are doing most things right with the country expanding its electricity mix to include a wider range of fuel sources, spanning to traditional steam and gas turbines to carbon-light technologies, such as renewables and nuclear.
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- A comparatively sanguine 2013 macroeconomic outlook for the UAE supports plans for hikes in generating capacity, and with more than US$8bn to be invested in the period up to 2020, the market is expected to remain highly attractive to regional and international developers. Several major players are vying for contracts in the well-established thermal segment, as well as in renewables and nuclear: natural gas-fired generation will continue to fire the lion's share of generation (78.71% in 2022), as the country perseveres with fossil-fuel-based capacity additions with a view to take advantage of its abundant and cheap domestic resources. Yet, gas generation will grow by a more modest 2.38% between 2013 and 2022, as new technologies are developed.
- UAE energy company Emirates Nuclear Energy Corporation (ENEC) has announced that it has commenced construction of a second nuclear reactor at the new Barakah power plant, reports Energy Business Review. The US$20bn facility, which is located in Al Gharbia, will have a total of four nuclear reactors. The first is scheduled for completion in 2017, with the remaining three to be installed by 2020. Despite significant political opposition around the world to the growth of nuclear power, the UAE is determined to develop its nuclear resources to reduce its reliance on oil for electricity generation.
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