MENA Region Holds Strong Potential for Low and Zero-Carbon Sources of Energy
- Date: 02-Jan-2021
- Source: Dubai Chronicle
- Sector:Oil & Gas
- Country:Middle East
MENA Region Holds Strong Potential for Low and Zero-Carbon Sources of Energy
Foto-Rabe (CC0), Pixabay
Renewables and nuclear technologies claimed higher share in power supply mix due to the COVID-19 pandemic
The race for hydrogen is accelerating the penetration of low-cost renewable energy sources; Role of private sector financing still hinges on sector reforms and government guarantees; Renewables and nuclear technologies claimed higher share in power supply mix due to the COVID-19 pandemic; Committed investments in MENA power sector hold relatively steady while planned investments decline by USD 114 billion compared to last year's outlook due to commissioning of several projects in 2019; Future demand and investments in the power sector will be largely determined by the power market structure, policy efficiency and sector digitalization; Ensuring energy security through regional electricity integration regains importance.
The Arab Petroleum Investments Corporation (APICORP), a multilateral development financial institution, published today its MENA Power Investment Outlook 2020-2024 highlighting key regional developments and prevalent trends in the power sector over the short