Korean firms eye UAE’s renewable energy market
23 Sep 2021

First Published on Khaleej Times

Participants at the Korean Energy Week are expected to tap into the exponentially growing market potential for renewable energy in the UAE and the Middle East and North Africa.

“Korea and the UAE have enjoyed a strong bilateral relationship for over 40 years. The highlight of this relationship is reflected in a UAE-Korea consortium bagging the contract to build the Arab world’s first nuclear plant, the Barakah Nuclear Energy Plant. While government to government relations are on a robust pace, increasingly Korean private companies are also foraying into the UAE and Mena market to tap into the business potential in the technology and renewables verticals,” said Chui Won, president, Energy Valley Enterprise Development Institute, Korea, one of the organizers of the event.

The five-day Korea Energy Week in the UAE, opening on October 3, has achieved substantial traction with over 250 pre-arranged meetings with government and private corporate entities early enough, indicating the buoyancy and growing demand for Korean products and services in the renewables and digital tech space.

“The region’s renewable energy investments are led by solar and these large cyclical economy infrastructure developments offer a huge market for 4IR tech solutions and solar support services and products. The high level of interest from the UAE government entities, including regulators and private corporate players for Korea Energy Week is a reflection of the market’s demand for new cutting edge products and solutions, said Denisa Fainis, Middle East Solar Industry Association (MESIA) general secretary.