Solar PV to generate $182 Bn investment in Middle East by 2025

With a 57GW capacity addition—solar photovoltaic (PV), concentrated solar power (CSP), and wind—by 2025, the region is estimated to witness an 18-fold growth of the current capacity, thereby receiving an investment of $182.3 billion, said an analysis by Frost & Sullivan.

The report reveals that the pressure to lower greenhouse gas (GHG) emissions is compelling the Middle East—the United Arab Emirates, Saudi Arabia, Qatar, Oman, Kuwait, Bahrain, Iran, Iraq, Jordan, and Lebanon—to embrace renewable energy. It adds, the COVID-19 crisis has adversely impacted the renewable energy market through supply chain disruptions, delays in tendering processes, crashing oil prices, and government restrictions.

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