CAIRO (Reuters) – Arab states could come close to achieving renewable energy targets for 2030 if they complete planned utility-scale solar and wind projects according to projected timelines, a report published on Tuesday said.

The planned projects would raise solar and wind capacity in Middle Eastern and North African Arab states to about 73GW from 12.1GW over the next eight years, according to the Global Energy Monitor, a US-based, non-profit research group.

Projects already under construction would add 7.6GW, while projects that are either in development or have been announced would contribute a further 65.5GW, according to the group.

In 2013, the Arab League committed to increasing the region’s installed renewable power generation capacity to 80GW by 2030.

© Reuters. FILE PHOTO - Algerian state energy firm Sonatrach' solar plant is pictured in Bir Rebaa oil field in southern Algeria, November 25, 2018. Picture taken November 25, 2018. REUTERS/Lamine Chikhi

Currently, Egypt is the country in the region that has the highest renewables capacity with 3.5GW, followed by the United Arab Emirates with 2.6GW and Morocco with 1.9GW, Gobal Energy Monitor said.

Oman, Morocco, Algeria and Kuwait are among the states with the most ambitious plans for expanding solar and wind capacity, it added.




Source link

Best Brokers

Unmatched trading fees, generous bonuses, top notch Regulation Frame.

T&Cs Apply

Risk disclosure: All investments involve a degree of risk of some kind. Trading financial derivative products comes with a high risk of losing money rapidly due to leverage.

Top-Tier Regulations. Unmatched Spreads and Commissions. Trading View is available.

T&Cs Apply

Financial Spread Trades and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 84.7% of retail investor accounts lose money when trading CFDs with this provider.

Modern and Intuitive Interfaces, Solid Regulatory Frame, and excellent Trading Fees.

T&Cs Apply
Risk warning: Trading derivatives is highly speculative, carries an inherent risk of loss and is not suitable for all investors. Before trading, you are strongly advised to read and ensure that you understand the relevant risk disclosures and warnings.

Highly Regulated. Low Spreads and Commissions. Vast Account Options.

T&Cs Apply

Risk Warning: Trading derivatives carries significant risks. It is not suitable for all investors and if you are a professional client, you could lose substantially more than your initial investment.