Middle East Projected To Become a Market Leader in Clean Energy

SourceAl Bawaba
SectorOil & Gas
CountryMiddle east

The Middle East is set to become a market leader in renewable and clean energy due to well-designed auctions, favourable financing conditions, and declining technology costs, all contributing to bringing renewables into the mainstream. Research from Informa Markets revealed 83 GW of renewable and clean energy capacity, mainly solar and wind power, is planned across the Middle East and North Africa (Mena) region within the next 20 years, and more than AED55 billion ($14. 97 billion) of solar power projects are expected to become operational by 2026.

Against this backdrop, renewable and clean Energy will debut as the theme for Middle East Energy’s inaugural virtual focus week on May 17, 2021. Claudia Konieczna, Exhibition Director, Middle East Energy, said: “We expect renewable and clean energy to account for 34% of total power sector investments across the Mena region in the next five years. “Naturally, with the demand for new power capacity increasing in the region, one of the hot topics...read more...