MENA to host US$15bn in new solar projects over next five years

By Marcus Lawrence

The Middle East and North Africa (MENA) is set to host over US$15bn’s worth of new and operational solar projects during the next five years, signalling a potent forward-thinking strategy for a region looking to transition away from fossil fuel exports.

Published ahead of the Solar Asset Management (SAM) MENA conference this November, SAM’s report on the matter says that the Middle East Solar Industry Association (MESIA) currently values the region’s solar market at around $20bn.

To meet mounting demand from global markets for clean energy, SAM said the region’s power generation capacity must increase by 66% by 2030, adding 267GW to its current capacity. The dropping costs of solar generation, along with the aforementioned demand, are facilitating the region’s push towards a renewable future.

SEE ALSO:

“Among the top five markets in the MENA region with the largest operational and in-the-pipeline solar projects include the UAE (58%), Egypt (23%), Jordan (10%) and Morocco (6%),” said Mina Mesbahi, Research Analyst at Solarplaza International BV, in SAM’s press release.

“Almost all the countries in this region experience an all year-round sunshine, providing breeding grounds for solar development. Accounting for almost 3GW of operational capacity, solar seems to only loom large for MENA.”

The SAM MENA conference is due to take place over 17-18 November 2019 at the Renaissance Downtown Hotel, Dubai, UAE. Speakers at the event include: Rouven Lenhart, Managing Director, Meteocontrol AMEA; Ahmed S Nada, President, MESIA; Raed Ahmad Bkayrat, Managing Director, Clean Energy Business Council; Nabih Cherradi, CTO, Desert Technologies; and many more.

 

For more information on business topics in the Middle East and Africa, please take a look at the latest edition of Business Chief MEA.

Follow Business Chief on LinkedIn and Twitter.

Share

Featured Articles

Middle East GDP hike of 57% if more women join workforce

By tapping into the potential of next-generation female workers, the MENA region could unlock new economic opportunities, up to US$2 trillion, reports PwC

Dialight supplies LED solutions for industrial safety

Reliance on inefficient lighting technologies are not only harmful to the environment, but also increase injury risk and cost

Top 10: Tech, AI, cloud, cyber speakers at TECH LIVE LONDON

TECH LIVE LONDON events sees technology leaders from IBM, Oracle, Vodafone, JP Morgan, Accenture and the US Space Force among the inspirational speakers

Cyber LIVE adds Vodafone head of cyber Kawalec to line-up

Leadership & Strategy

Musk’s multibillion hostile Twitter takeover – the timeline

Leadership & Strategy

Sustainable moves businesses can make to win customers, IBM

Sustainability