- | 2:00 pm
MENA region to accelerate renewable energy drive, says IRENA outlook
MENA to produce 26% of total primary energy supply from renewables by 2050, says the agency.
As the Middle East & North Africa (MENA) pursue an energy transition, the International Renewable Energy Agency (IRENA) has predicted the region’s significant thrust toward renewable energy.
IRENA says the region’s “advanced and ambitious energy investment and diversification plans” are driven by growing energy demand, the promotion of economic growth, and the desire to maximize socioeconomic benefits and meet decarbonization objectives.
By 2050, MENA may generate around 26% of its primary energy supply from renewable sources, according to the IRENA). This demonstrates a significant tendency in the region toward adopting renewable energy options.
According to IRENA’s World Energy Transitions Outlook (WETO), the share of renewable energy sources in MENA’s energy sector might eventually reach 53%. By 2050, according to the IRENA, hydrogen could supply up to 12% of the world’s energy needs, with the Middle East serving as its primary source.
The outlook reflects advanced and ambitious investment and diversification plans in the energy sector in the region, driven by growing demand for energy, boosting economic growth, and a desire to increase social and economic benefits and achieve carbon neutrality goals.
“Aspirations differ between countries, as well as the size of the market and readiness, but it can be said that the general scene is witnessing rapid changes,” the agency added.
“ We believe that the region will intensify its efforts in the field of renewable energy sources to fulfill the commitment of the Paris Agreement on achieving carbon neutrality and its ambitions in the energy transition. The current level of renewable energy capacity is still much lower than the levels planned by countries of the region, despite recent progress that has been made in renewable energy sources. However, expectations indicate faster progress in the future,” the agency added.
Today's Top Stories: