On Thursday, November 7, 2024, the Minister of Economy, Industry, and Investment, together with the Deputy Chairman of the General Federation of Yemeni Chambers of Commerce and Industry, the President of the Chamber of Commerce and Industry in the Capital Secretariat, Sana'a, and the President of the General Investment Authority, launched a project for localizing solar energy production to meet the energy needs of local factories with a hybrid power system. This initiative was announced during a workshop organized by the Ministry in cooperation with the General Investment Authority, held at the One-Stop Shop building and attended by representatives from national factories, solar energy companies, banks, and financial institutions.
The Minister of Economy, Industry, and Investment, Maeen Ahmed Hashim Al-Mahaqari, emphasized that the localization of solar energy production by private sector companies has become an urgent necessity. This step aims to reduce the costs of national production and provides a competitive alternative to fossil fuels, which are imported at high costs amounting to hundreds of millions of dollars. He added that the Ministry is determined to ensure the success of this localization program within the broader economic stimulus project, with full support from the national leadership. The program is anticipated to have positive impacts on the national economy and to enhance industrial activity in Yemen. The Minister also noted that the Ministry will guarantee advanced services through the hybrid power system, offering all necessary facilities and incentives to expand and optimize this initiative.
In his statement, Ali Mohammed Al-Hadi, President of the Chamber of Commerce and Industry in the Capital Secretariat, Sana'a, expressed the private sector’s optimism toward the program. He confirmed that the Chamber would support this direction, working to facilitate partnerships between Yemeni companies and international firms specializing in solar energy and seeking suitable investment opportunities in this field.
During the workshop, some specialized solar energy companies shared their successful experiences in the field, highlighting the amount of energy currently generated and the steps being taken to modernize hybrid energy systems, including the use of lithium batteries. The energy generated currently exceeds 2,000 megawatts, covering agricultural, healthcare, telecommunications, industrial sectors, as well as residential and hospitality needs nationwide.
Additionally, an agreement was signed during the workshop to supply Al-Muhsen Group’s factories with solar energy in collaboration with Al-Raebi Company, a specialized solar installation provider. This agreement includes the installation of a 10-megawatt generation system, with 5 megawatts of storage capacity using lithium batteries, with options for future expansion. The agreement was signed by Mr. Ali Mohammed Al-Hadi, Chairman of Al-Muhsen Group, and a representative from Al-Raebi Company, with Minister Al-Mahaqari ratifying the agreement.
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