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Unprecedented Boom in the Energy Sector in the Middle East and North Africa

August 15, 2024

The Middle East and North Africa (MENA) region is witnessing an unprecedented boom in the solar energy sector, fueled by massive investments from Chinese companies. Leading Chinese companies in the new energy field, such as Drinda, Jinko Solar, TCL Zhonghuan, InvinGen, and Sungrow, have announced ambitious plans to build solar cell factories and energy storage projects in countries across the region, including Saudi Arabia and Oman. These substantial investments underscore the region’s immense potential in solar energy and are helping accelerate the transition toward renewable energy sources.

The solar energy sector in the region is experiencing rapid growth, with installed solar generation capacity expected to reach 40 gigawatts by the end of this year and 180 gigawatts by 2030. Countries like Saudi Arabia, Turkey, Egypt, the UAE, Oman, and Morocco are leading this accelerated growth, accounting for more than two-thirds of the region’s installed solar energy capacity.

The MENA region boasts enormous potential for solar energy development, with some of the highest levels of solar radiation in the world. Currently, solar energy constitutes a small portion of the region’s overall energy mix, indicating a significant margin for growth. Despite the rapid expansion, the region faces challenges such as the need for infrastructure investment and human resource development. However, the opportunities in this sector are extremely promising, as solar energy can contribute to achieving sustainable development goals, creating new job opportunities, and enhancing energy security.