2016 was a very good year for the solar power industry in the UAE, as the country dominated this market in the Middle East and North Africa (MENA) region. Moreover, the UAE undertook most of the large-scale projects in the solar power sector which seems to continue unfolding in 2017 also. If you are interested in starting a business in this industry, you can rely on our company incorporation consultants in Dubai.
If 2016 was considered a good year for the solar power industry in the UAE, 2017 seems to be an even better one as at the beginning of the year Dubai announced starting working to two new mega solar photovoltaic (PV) projects and another concentrated solar power (CSP) project. The first project will begin during the first half of the year. Dubai has awarded the three programs at the end of last year and is now ready to begin working on them.
The development of this industry comes as a response to the increasing demands in electricity and water, but most of all in sustainable clean energy, especially if considering the development of the UAE as an economy in the MENA region. Also, Dubai has an interest in setting up these power plants which will play an important role in the solar thermal power industry.
Since 2015, the UAE had some of the largest solar power plants in the region which now have a total capacity of 893 MW. At the beginning of April 2017, a new 200 MW plant will be installed. Dubai and Abu Dhabi are the two emirates leading the industry. Also, the Dubai Electricity and Water Authority won the 800 MW Phase III project which will mean the implementation of two of the largest solar power plants in the country.
Given the promotion of the public-private partnership by the UAE government, private companies could find interesting business opportunities in this industry. Also, the UAE is planning to develop new solar power projects which will span until 2021.
Foreign investors seeking to open companies in the solar power sector are invited to contact our company formation representatives in Dubai for assistance in setting up a company.