(MENAFN- Mid-East.Info) Forum organized by Gulf Cooperation Council Interconnection Authority & EPRI to gather high-level delegates, including heads of GCC utility companies
Battery storage for stationary power systems to grow from an annual deployment rate of 5.5 gigawatts in 2020 to 26.2 gigawatts in 2025
MEA's battery energy storage system market to witness 5.2% CAGR during 2023-2028
Dubai, UAE: Dubai is all set to host the return of the premier Energy Storage Forum this year organized in anticipation of the 28th meeting of the conference of the Parties (COP28) in November. Set to take place from May 23 to May 25, 2023 at the Sofitel Hotel in Jumeirah Beach Residence, the Energy Storage Forum's 2023 edition will be a crucial milestone in driving forward the agenda on a resilient global energy storage infrastructure.
Under the theme“Driving Energy Transition Pathways Towards COP28,” the forum has been jointly organized by the Gulf Cooperation Council Interconnection Authority (GCCIA) and the independent non-profit energy research and development organization EPRI.
It will take place as the world continues to undergo a significant transition towards a decarbonized future and amid the upbeat outlook on the Middle East and Africa's (MEA) battery energy storage system market. According to a report released by Mordor Intelligence, the MEA's market will witness a compound annual growth rate of more than 5.2% during 2023-2028.
To address the challenges and opportunities that will arise as a result of the world's shift to a decarbonized world, the high-level international event will bring under one roof high-ranking contingents from different parts of the Middle East and the world. The participants will include power system operators, energy storage developers, researchers, service providers, and many more.
Delegates from GCC utility companies will be part of the high-profile attendees. During the event, they will explore the status of energy storage technology and how it can support the transition of the power sector to achieve sustainability and decarbonization in the region.
Eng. Ahmed Al Ebrahim, CEO, GCCIA, said:“The Energy Storage Forum will provide a unique opportunity for the global participants to discuss trends, policies, technologies, and innovations concerning renewable sources, such as solar and clean energy, and associated industries. We will highlight a range of relevant and pressing issues that will impact the GCC the most to help make the region at the forefront of building a decarbonized economy. From energy transition policies to hydrogen and energy storage, we have made sure to cover the fundamentals in line with the increasingly ambitious decarbonization goals across the GCC and the globe.”
“We are confident that the forum will serve as a catalyst for accelerating the adoption of energy storage solutions, paving the way for a resilient and decarbonized world. It is fitting that the event will be staged in the UAE, home to some of the leading energy storage projects, as the country continues to step up its sustainable development efforts according to the wise leadership's vision and directives,” Eng. Al Ebrahim added.
“As representatives from nearly 200 countries gather in Dubai later this year at COP28 to discuss progress towards clean energy targets, energy storage will play an increasing role as part of an affordable, reliable clean energy future,” said EPRI President and CEO Arshad Mansoor.“The Energy Storage Forum is being held at the right place and right time, gathering experts from the MENA region and beyond to discuss current and emerging opportunities in the global energy landscape. We look forward to collaborating with GCCIA on such an important and timely event.”
Historically, pumped storage hydro has been the most prevalent form of energy storage. While it remains important, new forms of energy storage, particularly lithium-ion batteries, have dramatically improved cost and performance, thus opening many new, site-specific opportunities for energy storage. With steady innovations, the battery storage for stationary power systems is expected to increase from an annual deployment rate of 5.5 gigawatts in 2020 to 26.2 gigawatts in 2025.
Amid the increased adoption and advancement of the lithium-ion battery storage technologies, new energy storage technologies continue to emerge driven by the demand for enhanced safety, long life, as well as abundant and environmentally responsible supply chains.
The three-day forum will tackle these topics and more during its insightful and interactive panel discussions and technical workshops on the fundamentals driving the energy transition and energy storage.
Moreover, the Energy Storage Forum 2023 will provide a unique opportunity for international participants to network and build partnerships with industry leaders, like-minded peers, and other stakeholders in the energy sector. Working in collaboration with EPRI, the GCCIA has developed an event agenda and technical content that will drive impactful discussions.