The transition away from fossil fuels to renewable and sustainable energy sources is changing every aspect of the energy sector, says one of the leading figures of the Middle East electricity sector.

“This is a great change worldwide,” says Ahmed Elsewedy, president and CEO of international energy contractor Elsewedy Electric.

Speaking on 5 April at ‘Elsewedy Electric Energy Solutions: Energy for today and tomorrow’, a live-streamed webinar on the outlook for the Saudi Arabian energy sector, the Elsewedy Electric president said there is an increasing degree of diversity in the energy business today, from traditional engineering, procurement and construction (EPC) contracting, through to cable manufacturing and ‘smart’ infrastructure.

“I believe in the investments in electricity,” says the Elsewedy executive.  “From the moment we wake up in the morning, to going to bed at night, our life is driven by electricity. But I believe that we have to focus on renewables.”

Click here to watch Elsewedy Electric Energy Solutions: Energy for today and tomorrow

Renewable energy developments have been one of the few high-growth segments of the region’s projects market over the past few years as governments have sought to diversify their energy sources, preserve their hydrocarbon reserves and reduce carbon dioxide emissions.

Smart solutions

Another key element of the global energy transition is the emergence of new technology to reduce waste and improve asset performance.

The Elsewedy president and CEO says that his company has invested heavily in the digitalisation of its services. The firm is well set to future-proof customers across region.

“We are investing a lot in 3W Network, the technology solutions division of Elesewedy Electric,” says Ahmed Elsewedy. “As well as in software and new technologies related to our business.

“Everything now, water, electricity … is linked with smart technology,” he says. “So of course we are looking for new partners, for new skills in smart technology.”

Saudi focus

Saudi Arabia – the biggest market in the region and centre for global oil production and export – is also going through a huge transformation. There is an enormous amount of investment going into infrastructure and energy as well as an opening up of the Saudi economy.

Elsewedy Electric has been operating in the kingdom for more than 15 years and is committed to ongoing investment in services and infrastructure.

“We believe in investing in Saudi Arabia,” says the company president, “in electricity, in manufacturing, manufacturing cable and in other areas in the next two years.”

The Egypt-based electricity contractor is keen to have a positive impact on the Saudi market, not just on the economy, but also on local employees and the communities they serve.

“We are not only coming for a project then leaving,” says Elsewedy. “We are there to stay, to work with the people here, and to invest in them.”