Some 83GW of renewable and clean energy capacity, mainly solar and wind power is planned across the Middle East and North Africa (Mena) region within the next 20 years, an Informa Markets research showed.
Renewable and clean energy will account for 34% of total power sector investments across the Mena region in the next five years.
The figures were highlighted as the Middle East is set to become a market leader in renewable and clean energy due to well-designed auctions, favourable financing conditions, and declining technology costs, all contributing to bringing renewables into the mainstream.
Renewable & Clean Energy will debut as the theme for Middle East Energy’s inaugural virtual focus week on May 17.
Claudia Konieczna, Exhibition director, Middle East Energy, said, “We expect renewable and clean energy to account for 34% 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. Creating dialogue on this subject is paramount to supporting Middle East Energy’s attendees in all future decision-making processes."
The importance of the renewables and clean sector, and the anticipated growth, was recently underscored in the report ‘Covid-19 impact on renewable energy market – global forecast to 2021’.
The findings revealed revenue generated from renewable and clean energy is expected to increase from AED675bn in 2020 to AED829bn in 2021, representing a 22% increase.
“In line with these findings, we have developed a conference programme 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 Konieczna.
The virtual Renewable & Clean Energy sector week, which takes place from May 17 to 19, 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 (Red Sea Utilities) and speaker on third day leaders panel, Integrating Renewables into Electricity Networks, said, “We will be able to evidence that tourist destinations, even at this scale, can be 100% powered by renewable energy. Eventually Nations will have their energy grids powered from renewables and nuclear, but in the meantime, we can achieve 100% renewable energy for The Red Sea project while staying ‘off grid’.”
“We started with the ambition of having 100% renewable energy sources for The Red Sea project, and we are delivering on it,” he added.
Topics on day one include 'Realising the potential of green hydrogen – will this be the game-changer for the energy transition'.
On day two, leading the agenda will be 'Race to net-zero: How will the corporates transition towards the "New Energy" scenario'.
On the final day, ‘Exploring the opportunities around growing wind sector, in potential regions of the UK, Africa, Asia and the Middle East’, will take centre stage.