Gearing for the New Year, predictions are now surfacing as to whom will rise to the top of the investment food chain. Consultancy firm Deloitte launched Energy Predictions 2010, the first of an annual series by the company on the state of the energy industry.
Derek Henderson, senior energy partner for Deloitte said: “2010 will be a challenging year for the energy industry and it is likely M&A activity will begin to rebound in mid 2010. Companies across sectors will need to think about how to ensure they make the most of future M&A opportunities. As global competition increases so will M&A’s role as a vital strategic tool for gaining much needed access to resources and opportunities.”
Some insight to the industry put the Middle East North Africa (MENA) region at the top of the pyramid, according to the firm. The region has geographic and demographic conditions to become a global leader. However, is this that farfetched of a prediction? After all, the UAE is home to the world’s first carbon-neutral zero waste city, Masdar City, and is the headquarters for the International Renewable Energy Association. In addition, the Desertec Initiative is gaining steam as more companies are signing on to use the Sahara desert as a method to collect solar power to transport energy to Europe. It’s safe to say that the MENA region has been climbing up the RE ladder for the past year, why should 2010 be any different?