Active Stocks
Fri Apr 12 2024 15:57:45
  1. Tata Steel share price
  2. 163.50 -1.00%
  1. NTPC share price
  2. 362.00 -0.32%
  1. ITC share price
  2. 430.10 -1.56%
  1. HDFC Bank share price
  2. 1,518.90 -1.10%
  1. State Bank Of India share price
  2. 766.75 -1.57%
Business News/ News / World/  Dubai gears up to host global Energy Storage Forum ahead of COP28
BackBack

Dubai gears up to host global Energy Storage Forum ahead of COP28

Power players to converge in Dubai for the essential Energy Storage Forum 2023 to shape a decarbonized energy future and accelerate the adoption of energy storage solutions.

Dubai gears up to host the Resilient Energy Storage Forum, ahead of Conference of the Parties 28th meetingPremium
Dubai gears up to host the Resilient Energy Storage Forum, ahead of Conference of the Parties 28th meeting

Dubai is eagerly preparing to host the highly anticipated return of the prestigious Energy Storage Forum this year, strategically organized in anticipation of the 28th meeting of the Conference of the Parties (COP28) scheduled for November. From May 23 to May 25, 2023, the Energy Storage Forum's 2023 edition will take place at the Sofitel Hotel in Jumeirah Beach Residence, serving as a crucial milestone in propelling the global energy storage infrastructure agenda.

With 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 organization Electric Power Research Institute (EPRI).

This influential event unfolds amidst the world's ongoing significant transition toward a decarbonized future and against the backdrop of a promising outlook for the Middle East and Africa's (MEA) battery energy storage system market. According to a recent report by Mordor Intelligence, the MEA's market is projected to witness a compound annual growth rate of over 5.2% during the period of 2023-2028.

The Energy Storage Forum aims to address the challenges and opportunities arising from the global shift towards a decarbonized world. It will bring together high-ranking contingents from the Middle East and various parts of the world, including power system operators, energy storage developers, researchers, and service providers, among others.

Distinguished delegates from GCC utility companies are expected to be among the esteemed attendees. The event will offer them an opportunity to explore the status of energy storage technology and how it can support the region's power sector transition towards sustainability and decarbonization.

EPRI President and CEO Arshad Mansoor highlighted the forum's importance in the lead-up to COP28, saying, "Without a doubt, the forum will contribute to the success of the upcoming COP28 that will take place in Dubai this November. The Energy Storage Forum will be an opportunity to showcase how energy storage can help strengthen our renewable resources despite vulnerabilities to weather and climate conditions. Dubai's commitment to sustainability makes it an ideal host for this significant gathering. The forum in Dubai will contribute to advancing the dialogue on energy storage and shaping the future of the global energy landscape."

While pumped storage hydro has historically dominated the energy storage landscape, new forms of energy storage, particularly lithium-ion batteries, have significantly improved in terms of cost and performance. This progress has opened up numerous site-specific opportunities for energy storage. With continuous innovation, the deployment of battery storage for stationary power systems is expected to increase from 5.5 gigawatts in 2020 to 26.2 gigawatts in 2025.

Additionally, 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. 

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
More Less
Published: 22 May 2023, 01:19 PM IST
Next Story footLogo
Recommended For You
Switch to the Mint app for fast and personalized news - Get App