Syria has set renewable energy as a central pillar in its economic strategic plan, aiming to revolutionize its energy sector. The Second Electricity Investment Conference at Damascus University showcased these efforts, drawing representatives from various sectors to discuss the countryโs renewable energy prospects.
Exploring Renewable Energy Opportunities
For over two days, the conference delved into plans for renewable energy sources in Syria and the opportunities for investment while also including the role of the private sector in electricity production. Discussions also highlighted successful examples from international and regional bodies also financing models for renewable energy projects, and also regulatory incentives aimed at attracting investors.
Mohammed Nawaf Al-Taโani, Secretary-General of the Arab Renewable Energy Authority, underscored Syriaโs potential as a hub for Arab cooperation and sustainable development. He proposed declaring Damascus the capital of renewable energy by 2035 and called for collaborative research and development with global leaders in the sector.
Government Initiatives and Legislative Developments
Minister of Electricity, Ghassan Al-Zamel announced 2024 as the year for renewable energy investments, emphasizing photovoltaic and wind energy. He unveiled new projects, including wind initiatives exceeding 200 megawatts and photovoltaic projects totaling about 600 megawatts. Al-Zamel also highlighted legislative progress through laws 23 and 32, which have facilitated the growth of renewable energy projects in the war-torn nation.
The Law No. 23, enables the Ministry of Electricity and its subsidiaries to sign Power Purchase Agreements with alternative energy companies at predetermined prices approved by the Syrian Prime Minister. This law promotes investment in renewable energy projects, allowing the generated electricity to be distributed through the ministryโs networks to private distributors thereby addressing the rising demand for electricity.
At the same time, articles of Law No. 32 amends earlier legislation to simplify the development of renewable energy projects, encouraging investment through public-private partnerships. This law also mandates the Ministry of Electricity to purchase any surplus production from renewable energy projects, bolstering the sector's sustainability and resilience.
Economic and Industrial Efforts
Minister of Industry, Abdelkader Joukhadar emphasized directing investments toward manufacturing photovoltaic panels and semiconductor components for photovoltaic chips. He stressed the importance of adopting cutting-edge technology during the fourth industrial revolution to enhance energy efficiency.
Governor of Damascus, Engineer Mohammed Tariq Kreishati, expressed optimism that the conference's decisions would spur investment in Syriaโs energy sector, leveraging local human capital and natural resources.
The conference also featured an exhibition showcasing renewable energy projects by public and private companies. Discussions included improving the distribution of solar energy projects, establishing a factory for electric vehicles, revising policies governing electricity sales transactions, and learning from international best practices in renewable energy usage.
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Renewable Energy Strategies and Investments
The Electricity Investment Conference highlighted Syria's commitment to renewable energy as a cornerstone of development which is supported by legislation, investment opportunities, and the cultivation of local and global expertise. These efforts aim to significantly expand the country's renewable energy capacity, reducing reliance on fossil fuels and paving the way for an economic boom and a greener, more resilient future.
Laws 23 and 32 provide a supportive regulatory environment for investments in renewable energy projects, ensuring opportunities for both local and international investors in Syria. The focus on renewable energy not only addresses the nationโs energy needs, but also contributes to sustainable development and economic growth.
