Syria Launches Second Investment Conference To Boost Renewable Energy Sector

Today marked the commencement of the second investment conference in Syria’s electricity sector, held at the Damascus University Auditorium under the theme “Investing in renewable energy and electricity is the engine of sustainable development in Syria.” The conference brought together representatives from various sectors involved in renewable energies to explore opportunities and strategies for advancing the country’s energy landscape.

Over the course of two days, the conference agenda focuses on crucial topics such as the potential of renewable energy sources in Syria, investment prospects for renewable energy projects, and the role of the private sector in electricity generation. Discussions also encompass successful case studies from international and regional organizations, financing mechanisms for renewable energy initiatives, and regulatory incentives for investors.

Engineer Muhammad Nawaf Al-Taani, Secretary General of the Arab Authority for Renewable Energies, emphasized Syria’s pivotal role in Arab cooperation and outlined aspirations for becoming a model in sustainable development. He proposed declaring Damascus as the capital of renewable energy by 2035, underscoring the importance of research and development collaborations with leading countries in the field.

Minister of Electricity, Engineer Ghassan Al-Zamil, highlighted 2024 as the year dedicated to investments in renewable energies, particularly in photovoltaic and wind energy. He announced upcoming wind projects exceeding 200 megawatts and new photovoltaic projects totaling approximately 600 megawatts. Minister Al-Zamil praised recent legislative developments, Laws No. 23 and 32, which have facilitated the expansion of renewable energy projects across Syria.

Dr. Abdul Qadir Joukhadar, Minister of Industry, outlined efforts to attract investments in the energy industry, focusing on manufacturing photovoltaic panels and semiconductor components essential for photovoltaic chips. He emphasized the necessity of advanced technology adoption under the Fourth Industrial Revolution to enhance energy efficiency.

Engineer Muhammad Tariq Krishati, Governor of Damascus, stressed the urgency of meeting energy demands for ongoing construction and development efforts. He expressed optimism that decisions made during the conference would catalyze a renaissance in Syria’s energy sector, leveraging local expertise and abundant natural resources.

The sidelines of the conference feature an exhibition showcasing supplies for renewable energy projects, featuring participation from both public and private companies. Discussions continue on enhancing solar energy project distribution, establishing an electric car manufacturing facility, updating monetary policies for electricity sales, and learning from global best practices in renewable energy deployment.