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
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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