10 Feb Renewables in Middle East and North Africa are the future
Renewables could be bigger than we thought for this region.
Daily News Egypt, Egypt’s Independent Newspaper, has reported that the International Renewable Energy Agency said that the Middle East and North Africa (MENA) region could produce about 26% of total primary energy supply from renewables by 2050.
This comes from their World Energy Transitions Outlook, which revealed a strong trend towards adoption of renewable energy sources, together with the region’s continued efforts to achieve transformation in this field. Beyond production, the report also indicated that the potential share of renewables could reach 53% of the MENA’s energy sector.
According to consultants Frost & Sullivan, it is predicted that the solar and hybrid energy sector in MENA will grow by $980 million by 2025. This move to renewables will have a widespread impact on the technology sector, which presents great growth opportunities for emerging technologies to meet the requirements of this high demand for renewable energy solutions.
It is expected that the distributed solar photovoltaic energy sector will account for $530-550m of potential investments in the technology sector in the Middle East alone, and the renewable hybrid energy systems technologies sector will acquire $400-430m of that investment over the next two years.
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