ÌÇÐÄÆƽâ°æ

As of 2023, Iran boasted the largest renewable energy production capacity in the Middle East and North Africa (MENA). Iran produced nearly twice as many megawatts as Egypt, and almost four times that of Morocco, the countries with the next highest capacities in the region. Among the Gulf Cooperation Council (GCC) countries, the United Arab Emirates led with the highest installed renewable energy capacity, ranking fourth in the MENA region with approximately * gigawatts.

Investments in renewable energy

The MENA region has been increasingly turning to renewable energy to meet its energy needs. Over the past decade, countries in the GCC and North Africa have invested heavily in renewable energy, with Saudi Arabia and Egypt scoring the highest value of renewable energy project contracts. This shift may be driven by the need to address gaps in current energy supplies and reduce dependence on fossil fuels by adopting more sustainable energy sources. The GCC is home to the top four valued renewable energy projects currently under execution in the MENA region. However, it is primarily the North African countries that currently account for the largest share of energy investments directed towards renewable energy in the region.

Saudi Arabia Vision 2023

Renewable energy is one of the key areas of focus for Saudi Arabia as part of its Vision 2030 project, which aims to diversify the country’s economy and wean it off oil dependency. Saudi Arabia has some of the most ambitious renewable energy production targets in the MENA region, followed closely by countries in North Africa. The country is currently undertaking the construction of a mega project known as NEOM, a brand-new city to be built in the middle of the desert, estimated to cost well over *** billion U.S. dollars. Initially, the city is expected to be powered by ** percent renewable energy before switching solely to renewable and green energy by 2030.