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Disparities in Renewable Energy Discourse at the 10th Berlin Energy Transition Dialogue

Was this a pragmatic dialogue? This is the question that lingers in conversations with most scholars, pundits and critics in the energy sector as the 10th Berlin Energy Transition Dialogue (BETD) comes to a close.
During the ongoing dialogue, a look into the International Renewable Energy Agency (IRENA)… “The Volume 2 of the World Energy Transitions Outlook 2023 contends that current transition narratives may not resonate with all stakeholders, largely due to their omission of central socio-economic dimensions. Bridging gaps in climate policy ambition and fostering essential structural changes necessitates unparallel global collaboration.”
To understand more on this, I speak to the Director General International Renewable Energy Agency (IRENA) Francesco La Camera who opines that “If we want to be in line with what we need in limiting global temperature to within 1.5° of pre-industrial levels we have to install 1100 GW per year which means more than double what we have done in the last one year. We have to abandon this concept of neutral technology…technology neutrality…carbon neutrality doesn’t exist…and have to understand that every system needs structures that sustain the system itself”
Francesco La Camera Director-General of the International Renewable Energy Agency (IRENA)
A report from the International Renewable Energy Agency (IRENA) avers “An average of almost 1,100 GW of renewables capacity must be installed annually by 2030 – more than double the record set in 2023. Annual investments in renewable power generation must surge from USD 570 billion in 2023 to USD 1550 billion on average between 2024 and 2030.”
Auma Obama a distinguished scholar, who attended the 2-day conference in Berlin expresses her concerns.
This makes achieving the global target set at COP28 to triple renewable power capacity by 2030 look like a mirage or a distant dream even though seen as feasible with the right policy support and investments.
I later have a sit down with the indomitable Ndiarka Mbodji, the Managing Director, Kowry Energy Services that enables access to clean energy. Ndiarka, a seasoned leader with over 23 years across various industries, is not shy to point out the glaring gaps in renewable energy financing and capacity building.
The power in most major cities is not reliable, which impacts immensely on businesses and industries. According to Ndiarka, the financing coming into renewable energy is insufficient compared to the total energy finance, with the majority of investment concentrated in developed countries.
“The main issue there is perceived risk when you come into emerging and developing countries. We use financing instruments which were developed after the second world war to rebuild Europe and also to stabilize the west, and we use that to apply the same financial instruments into emerging and developing countries, which obviously does not work.”
The dialogue in energy financing is that the higher the financing cost, the more difficult it is to access the finances. What most countries are now pointing out is that there are commitments in energy financing, but the funds are trickling down too slowly.
“We don’t want commitments, the topic really is about implementing.”
The call is that countries don’t want any more commitments; they just want what they were promised to receive, as this will be a tremendous improvement if they can get a hold of that money.
“For a small company accessing a grant you have to fill more paperwork than it is to build a nuclear power plant.” Ndiarka Mbodji
German Vice Chancellor Robert Habeck’s pragmatic opening statement is on the need to tap into renewable energies and a clarion call for concerted efforts among nations to transition to renewable energy.
This comes at a time when countries' dependence on fossil fuels remains high, with a need to reduce reliance and substitute with renewable energy sources.
In a side-event with young key-note representatives from various countries, the social impact of renewable energy adoption is notable, prompting the German Vice Chancellor to call for fair investment to fully unlock the potential of renewable resources.
As of this dialogue, according to the Kleinman Center for Energy Policy, renewable energy sources are increasingly being adopted globally, with significant progress made in transitioning to clean energy. However, innovative approaches are necessary to harness diverse renewable energy resources effectively and accelerate the transition to a sustainable energy future.
PY:Amina Younis
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BENEFIT AGM approves 10%...
- March 27, 2025
BENEFIT, the Kingdom’s innovator and leading company in Fintech and electronic financial transactions service, held its Annual General Meeting (AGM) at the company’s headquarters in the Seef District.
During the meeting, shareholders approved all items listed on the agenda, including the ratification of the minutes of the previous AGM held on 26 March 2024. The session reviewed and approved the Board’s Annual Report on the company’s activities and financial performance for the fiscal year ended 31 December 2024, and the shareholders expressed their satisfaction with the company’s operational and financial results during the reporting period.
The meeting also reviewed the Independent External Auditor’s Report on the company’s consolidated financial statements for the year ended 31 December 2024. Subsequently, the shareholders approved the audited financial statements for the fiscal year. Based on the Board’s recommendation, the shareholders approved the distribution of a cash dividend equivalent to 10% of the paid-up share capital.
Furthermore, the shareholders endorsed the allocation of a total amount of BD 172,500 as remuneration to the members of the Board for the year ended 31 December 2024, subject to prior clearance by related authorities.
The extension of the current composition of the Board was approved, which includes ten members and one CBB observer, for a further six-month term, expiring in September 2025, pending no objection from the CBB.
The meeting reviewed and approved the Corporate Governance Report for 2024, which affirmed the company’s full compliance with the corporate governance directives issued by the CBB and other applicable regulatory frameworks. The AGM absolved the Board Members of liability for any of their actions during the year ending on 31st December 2024, in accordance with the Commercial Companies Law.
In alignment with regulatory requirements, the session approved the reappointment of Ernst & Young (EY) as the company’s External Auditors for the fiscal year 2025, covering both the parent company and its subsidiaries—Sinnad and Bahrain FinTech Bay. The Board was authorised to determine the external auditors’ professional fees, subject to approval from the CBB, and the meeting concluded with a discussion of any additional issues as per Article (207) of the Commercial Companies Law.
Speaking on the company’s performance, Mr. Mohamed Al Bastaki, Chairman BENEFIT , stated: “In terms of the financial results for 2024, I am pleased to say that the year gone by has also been proved to be a success in delivering tangible results. Growth rate for 2024 was 19 per cent. Revenue for the year was BD 17 M (US$ 45.3 Million) and net profit was 2 Million ($ 5.3 Million).
Mr. Al Bastaki also announced that the Board had formally adopted a new three-year strategic roadmap to commence in 2025. The strategy encompasses a phased international expansion, optimisation of internal operations, enhanced revenue diversification, long-term sustainability initiatives, and the advancement of innovation and digital transformation initiatives across all service lines.
“I extend my sincere appreciation to the CBB for its continued support of BENEFIT and its pivotal role in fostering a stable and progressive regulatory environment for the Kingdom’s banking and financial sector—an environment that has significantly reinforced Bahrain’s standing as a leading financial hub in the region,” said Mr. Al Bastaki. “I would also like to thank our partner banks and valued customers for their trust, and our shareholders for their ongoing encouragement. The achievements of 2024 set a strong precedent, and I am confident they will serve as a foundation for yet another successful and impactful year ahead.”
Chief Executive of BENEFIT; Mr. Abdulwahed AlJanahi commented, “The year 2024 represented another pivotal chapter in BENEFIT ’s evolution. We achieved substantial progress in advancing our digital strategy across multiple sectors, while reinforcing our long-term commitment to the development of Bahrain’s financial services and payments landscape. Throughout the year, we remained firmly aligned with our objective of delivering measurable value to our shareholders, strategic partners, and customers. At the same time, we continued to play an active role in enabling Bahrain’s digital economy by introducing innovative solutions and service enhancements that directly address market needs and future opportunities.”
Mr. AlJanahi affirmed that BENEFIT has successfully developed a robust and well-integrated payment network that connects individuals and businesses across Bahrain, accelerating the adoption of emerging technologies in the banking and financial services sector and reinforcing Bahrain’s position as a growing fintech hub, and added, “Our achievements of the past year reflect a long-term vision to establish a resilient electronic payment infrastructure that supports the Kingdom’s digital economy. Key developments in 2024 included the implementation of central authentication for open banking via BENEFIT Pay”
Mr. AlJanahi concluded by thanking the Board for its strategic direction, the company’s staff for their continued dedication, and the Central Bank of Bahrain, member banks, and shareholders for their valuable partnership and confidence in the company’s long-term vision.
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