MENA renewables to grow over 300% in 5 years

Solar PV will account for 85% of the projected growth.

The renewable energy capacity of the Middle East and North Africa (MENA) region will grow three times or by 62 gigawatts (GW) from 2023 to 2028, with Saudi Arabia accounting for a third of the growth.

In a report, the International Energy Agency (IEA) said Saudi Arabia will be followed by the United Arab Emirates, Morocco, Oman, Egypt, Israel and Jordan, all of which contribute more than 90% of the expected increase in the region.

Per sector, the IEA solar will make up for more than 85% of the growth, with onshore wind and concentrated solar also taking part in the forecast. 

ALSO READ: MENA renewable capacity rose to 57% but lags from hydrogen and gas

The renewables growth in the region will be driven by competitive auctions which represent 35% of the projected expansion.

The IEA also noted that almost all countries in the region have issued tenders to procure private investment for solar, onshore wind or concentrated solar.

It noted that expansion through other mechanisms such as unsolicited bilateral contracts with utilities, and corporate power purchase agreements are also increasing as the competitive bidding process may impede faster growth as it could take several years.