The Middle East Is Rapidly Developing the Renewable Energy Sector; the Region’s Renewable Capacity From Wind and Solar May Increase 18-Fold by 2025; Einvestment Predicts Rapid Market Growth and Highlights Lucrative Investment Opportunities
LISBON, PORTUGAL / ACCESSWIRE / April 14, 2021 / The renewable energy sector is on the rise in the Middle East region. According to the data provided by the research firm Frost and Sullivan, the renewable capacity of the region is likely to expand by 18 times in four years. The expected scope of investment by 2025 surpasses $182 billion. These resources are planned to be used in order to increase the capacity by 57 GW.
According to Einvestment's observations, countries in the region undertake active initiatives to develop the green energy sector. Saudi Arabia alone plans to generate half of its energy from renewable resources by the end of the decade. Qatar's solar energy market will grow at a CARG of 15%, according to Mordor Intelligence. Others are likely to follow a similar path, with the projected energy consumption increase within the coming two decades. As renewable energy is more cost-efficient, the sector will rapidly develop in the near future.
"The renewable energy market in the Middle East region is going to boom. With the already undertaken initiatives and future plans, green energy is going to replace a fair share of traditional energy sources. While for the region, it's an opportunity to promote sustainability and optimize costs, investors can greatly benefit from such projects. The investment opportunity equals $341.1 billion in this decade. Einvestment has already increased the share of securities of Middle East-domiciled companies from the green energy sector by 25%. We believe that the market will keep growing and increase by 8% on average annually until 2025." says Einvestment's Executive Director, Martha Vodvik.
Besides cost-efficiency, the market growth is triggered by the region's focus on clean energy and the reduction of carbon footprint, an abundance of resources, and climate change commitments. Solar energy, in particular, is driven by the abundance of natural light in the region. However, a lot is yet to be undertaken to adapt the existing technologies to desert conditions.
Name: Marco Rotondi
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