alfaenergy was invited to the World Islamic Economic Forum, where over 2,800 delegates from 180 countries gathered for a 3 day event. You may have noticed a lot of discussion around Islamic Finance growing in the UK. This 1 Trillion Pound market which the UK has a 5% market share of has yet to be fully explored where the UK Prime Minister gave his full support to the development of this market.
Many countries hosted their own seminars on why to invest in them. A dominating mutual aspect was regarding energy. With seminars allowed for one hour, Pakistan’s seminar spent over forty five minutes discussing its energy situation and plans. The country is prone to blackouts daily due a 2000MW energy deficit. This is costing the country approximately 2% GDP as the country fundamentally has to shut down.
Does it feel the need to go nuclear or coal? No, they have a strong medium and long term plan where renewables will not only balance the supply/demand but will exceed to provide a power surplus. A strategy of utilising the deserts with solar power, funded by the Chinese will be part of the short term strategy. Working with the agricultural sector to use its waste and convert to energy will provide the medium term outlook producing over 4000MW.
Overall they plan to have over 10GW of energy surplus from renewables alone.Malaysia has also seen the benefits of going green as a solution to a crisis. Converting the waste from its palm oil plantations also takes the edge off the degradation that the plantations cause.
Overall we can see how emerging nations where energy demand is increasing, they are looking for alternate means of meeting that demand rather than the traditional coal, gas or nuclear. It can be seen as a logical step too, cleaning up the local environment, providing local power as part of a national picture.