Monday 21 May 2018

Mideast solar industry ‘needs legal framework’

Dubai, January 22, 2014

The Middle East solar industry requires a solid legal framework to be considered a global player in the development of solar energy solutions, said an expert.

Dr Michael Kraemer, senior associate of law firm Taylor Wessing and a member for the Emirates Solar Industry Association, has called for the creation of a local solar market but warns that in order to build one the region must introduce the necessary legal structures.

Speaking ahead of the second edition of the Solar Middle East Conference, set to take place from February 11 to 13 at the Dubai International Convention and Exhibition Centre, Dr Kraemer said: “Investments are made into existing and upcoming markets, such as the Middle East, so a local solar market needs to be created.  

“The first step to making this happen is to introduce a solid legal framework which will provide long term visibility and certainty for investors.”

He will provide a policy update to conference delegates from a legal perspective, alongside an expert line-up of regional and international solar players who are looking to develop the necessary policies to harness the abundance of sunlight in the region.

“Ideally, a legal framework would also open up the market for smaller scale, private investors, for example by providing the legal basis for a rooftop solar programme,” said Dr Kramer.

“Most jurisdictions which have tapped into such private investments have developed interesting local solar markets.  Mistakes have been made in some countries, but these are useful lessons to be learnt and we now have the chance not to make the same mistakes,” he said.

With a strong focus on the development of solar power facilities, expenditure on solar projects throughout the Middle East is expected to grow by 40 per cent annually until 2017, according market research firm IHS.

The conference, which will take place alongside Middle East Electricity, will discuss the vision, leadership and investment that is driving the region’s solar power and renewable energy research and development forward. - TradeArabia News Service

Tags: Middle East | framework | solar | industry | legal |

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