MENA Renewable Energy Market Overview

1. MENA Renewable Energy Market Overview
http://nexgcg.com

2. INVESTMENT IN RENEWABLE ENERGY
 Global investment in solar projects has increased dramatically over the last 12 years [Ref1]
 Investment in renewable energy projects within the MENA region has grown more recently considering the clean energy targets
implemented by various countries and dramatic fall in the cost of solar energy [Ref 1] .
 Most of the support for renewable projects has come through government-backed programs bolstered by the willingness of development
finance institutions (DFI’s) to advise and fund these projects [Ref 1].
 As an example,the World Bank Group’s lending arm, the International Finance Corporation (IFC), has provided nearly $6 billion in capital for
250 renewable energy projects in emerging markets (5 GW solar and 4 GW wind) [Ref 1].
 Current trends show that the renewable energy landscape is rapidly evolving and significant developments have taken place. In 2016, USD
11 billion were invested in renewables across the Arab region compared to USD 1.2 billion in 2008, or a nine-fold increase in only eight
years [Ref 2].
 Morocco has developed a local industry through skills capacity building for solar water heaters to create 13,000 new jobs [Ref 2].
 Morocco continues to lead the region in terms of total installed renewable generating capacity to meet 52 percent of the country’s total
installed renewable generating capacity by 2030 [Ref 2].
 the ambitious targets set by all countries of the region are expected to translate into a combined 80 GW of renewable capacity by 2030
based on national plans to fulfill the countries’ ambition [Ref 2].

3. SOLAR TRENDS 2019 – 2021 (Ref1)
Solar (PV, CSP, ISCC) Installation overview in MW, excluding projects below 10 MW (Source: MESIA)
Country Awarded / Tender Construction Operations
Algeria 200 368
Bahrain 100
Egypt 1000 1800 94
Jordan 252 617 641
Kuwait 1500 60
Morocco 800 120 705
Oman 600 1021
Pakistan 462.52 445
Saudi Arabia 30 360 98
Tunisia 644 10
UAE 950 1777 573
Total 12,294 2,934

4. GCC SUSTAINABLE ENERGY TARGETS [Ref 3]
Country Renewable Energy Targets Energy Efficiency Targets
Bahrain
2025: 5% of elec. generation
2035: 10% of elec. generation
2025: 6% elec. consumption
Kuwait 2030: 15% of elec. generation
2020: 5% generation efficiency
2030: 15% generation efficiency
2030: 30% energy consumption
Oman 2025: 10% of elec. generation 2030: 2% emissions
Qatar 2020: 200-500 MW of solar
2022: 8% per-capita
elec. consumption
2022: 15% per-capita
water consumption
Saudi Arabia
2020: 3.45GW
2023: 9.5GW by 2023 (10% of cap)
2030: 30% of generation from
renewables and others
(mainly nuclear)
2021: 8% in elec. consumption
2021: 14% in peak demand
UAE
2050: 44% of capacity
2021: 27% clean energy
2020: Abu Dhabi 7% of capacity
2020: Dubai 7% of elec. generation
2040: Ras Al Khaimah 25%-30%
2050: 40% elec. consumption
2030 Dubai: 30% elec. consumption.

5. GCC SUSTAINABLE ENERGY TREND [Ref 3]
UAE, 68%
BAHRAIN, 1%
KUWAIT, 9%
OMAN, 1% QATAR, 5%
SAUDI ARABIA, 16%
Installed renewable energy capacity in GCC
countries as a share of the total by 2018- GCC total: 867 MW
UAE BAHRAIN KUWAIT OMAN QATAR SAUDI ARABIA

6. GCC SUSTAINABLE ENERGY TREND [Ref 3]
UAE, 69%
KUWAIT, 12%
OMAN, 1%
QATAR, 1%
SAUDI ARABIA, 16%
Growth in renewable energy capacity in the GCC
by country, 2014-2018- Total additions
2014-2018: 657 MW
UAE KUWAIT OMAN QATAR SAUDI ARABIA

7. References
1. SOLAR OUTLOOK REPORT 2019, MIDDLE EAST SOLAR INDUSTRY ASSOCIATION.
2. Middle East & North Africa, IRENA Organization, 2019.
3. IRENA Market Analysis GCC, 2019.