(MENAFNEditorial) Under the patronage of his Highness the Amir of Kuwait Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah, EQUATE Petrochemical Company, Kuwait's first international joint-venture in this industry, sponsored the Sixth Middle East and North Africa Renewable Energy Conference (MENAREC 6).
Including the participation of over 400 energy experts from around the world, MENAREC 6 discussed a number of topics, such as promoting renewable energy, forming regional partnerships, investment opportunities and others.
EQUATE President & CEO Mohammad Husain said, "While renewable energy is an interesting sector, we must remember that we are hydrocarbon-based economies. In other words, when we decide to have both renewable and conventional energy, will we be competing with ourselves? At the same time, what type of a balance will we be having between both energy sectors?"
Husain added, "Kuwait is aspiring to have 15% of its energy needs from wind and solar sources by 2030, which is a very ambitious objective. Currently, the most tangible renewable energy effort in the region is being executed by the UAE through the Barakah Nuclear Power Plant, which is considered the biggest of its kind globally. The challenges facing renewable energy in this region are mainly relevant to the business model. Another challenge is relevant to technology in terms of diverse utilization and who will take the leadership, as well as forming partnerships between governments and organizations. Finally, we must consider innovation in renewable energy and making a difference for overall sustainability."
Husain noted, "In terms of EQUATE's participation in renewable energy, our upcoming new headquarters will rely on solar energy to produce three to five percent of its electrical needs."
The Middle East and North Africa Renewable Energy Conference (MENAREC) was born in 2004 and has since become the major platform for renewable energy through the region. MENAREC 6 is organised by the Kuwait Institute for Scientific Research (KISR) and the Energy and Building Research Centre (EBRC) in partnership with the International Renewable Energy Agency. www.mena-rec6.com
Established in 1995 as Kuwait's first international joint-venture in this industry, EQUATE Petrochemical Company (EQUATE) embodies its "Partners in Success" slogan through the partnership between Petrochemical Industries Company (PIC), The Dow Chemical Company (Dow), Boubyan Petrochemical Company (BPC) and Qurain Petrochemical Industries Company (QPIC). Commencing production in 1997, EQUATE is currently the owner and single-operator of several fully integrated world-class petrochemical units, within the Greater EQUATE joint-venture, that annually produce over 5 million tons of the highest quality grades of Ethylene, Polyethylene (PE), Ethylene Glycol (EG), Polypropylene (PP), Styrene Monomer (SM), Paraxylene (PX), Heavy Aromatics (HA) and Benzene (BZ). The products are marketed throughout the Middle East, Asia, Africa and Europe. Alongside with being a leading industrial organization, EQUATE dedicates its utmost commitment and care to overall sustainability wherever it operates in cooperation with public and private bodies, including employees, the society and customers, in all relevant fields, such as human development, environment, education, health and public awareness. www.equate.com
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