MENA’s solar, wind capacity to reach 3.9 GW in 2015 - Dii

Mar 7, 2014 - The Middle East and North Africa (MENA) region is forecast to boost its total solar and wind power production capacity to 3.9 GW in 2015 from some 1.5 GW currently, according to the Desertec Industrial Initiative (Dii).

Overall, the region in expected to more than double its renewable energy assets by end-2015, the trade association’s CEO Paul van Son told Bloomberg in an interview on Tuesday. He explained, as cited by the news agency, that the growth reflects the local governments’ efforts to meet increasing power demand, while preserving fossil fuels for export. Persian Gulf countries, in particular, are expected to lift their solar capacity significantly.

To support green projects, Desertec will set up a USD-30-million (EUR 21.7m) fund that will provide financing to producers with funding problems, Van Son told Bloomberg.

In January the Middle East Solar Industry Association (MESIA) presented a report that says solar energy in the Middle East and North Africa (Mena) region may attract over USD 50 billion in investments by 2020. Saudi Arabia is expected to be the solar leader in the area thanks to its plan to install 23,900 MW of renewable energy capacity by the end of the decade. Other countries with high solar potential are Morocco, Egypt and Algeria, with each of them having set ambitious solar targets of between 1,500 MW and 3,000 MW.

(USD 1.0 = EUR 0.722)

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