The energy transition in the Middle East is proceeding at a rapid pace. Renewable energy project contract awards in 2021 have eclipsed deals for conventional power plant projects as the region’s energy diversification agenda gathers pace, according to a new research report from MEED Insight. Middle East Energy Transition reports that there were no contract awards for oil-powered or gas-fuelled power stations in the Middle East and North Africa (Mena) region in the first half of 2021, while in the same period, there were about $2.8bn of renewable energy project contract awards in the region.
What are the current developments? What are the biggest drivers? And which sectors play a particularly important role? Benjamin Attia, Senior Research Analyst, Energy Transition Practice, Wood Mackenzie Power & Renewables tells us.
Timeline:
2.12: What are the current developments in MENA, what has happened in the past 12 months?
4.40: Will the MENA market will be worth more than $20 billion by 2024?
9.35: What are the key technical aspects and latest technologies in this regard?
13.32: What are the next steps and developments we will see in the Middle East’s energy transition?
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