Within the next 20 years the Middle East and North Africa (MENA) region’s renewable and clean energy capacity, mainly solar and wind power, is projected to reach nearly 83GW, according to a report from UK-based Informa Markets’ research.
The report shows that renewable and clean energy will account for 34 percent of total power sector investments across the MENA region in the next five years. The figures were highlighted as the Middle East is all set to become a market leader in renewable and clean energy with its well-designed auctions, favorable financing conditions, and declining technology costs.
“We expect renewable and clean energy to account for 34 percent 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 of discussion is renewable and clean energy and how countries are advancing initiatives in this sector. “
In the recent report ‘COVID-19 impact on renewable energy market – global forecast to 2021’, the importance of the renewables and clean sector, and its anticipated growth was highlighted. The findings revealed that the revenue generated from renewable and clean energy is expected to increase from $183 billion in 2020 to $225 billion in 2021, representing a 22 percent increase.
“In line with these findings, we have developed a conference program which provides the opportunity to discuss, debate and learn more about the impact renewable and clean energy will have on the sector as part of our virtual three-day conference,” added Ms. Konieczna.
The virtual Renewable & Clean Energy sector week will feature a range of tech talks, industry briefings, case studies, product demonstrations and panel discussions throughout the three-day conference.
Ian Williamson, chief project delivery of Red Sea Utilities, said, “We will be able to evidence that tourist destinations, even at this scale, can be 100 percent powered by renewable energy. Eventually, Nations will have their energy grids powered from renewables and nuclear, but in the meantime, we can achieve 100 percent renewable energy for The Red Sea project while staying ‘off grid’.”
The three-day conference will have topics including ‘Realising the potential of green hydrogen – will this be the game-changer for the energy transition’, ‘Race to net-zero: How will the corporates transition towards the New Energy scenario’ and ‘Exploring the opportunities around the growing wind sector, in potential regions of the UK, Africa, Asia and the Middle East.’