1、RISE OF RENEWABLES IN THE GULF REGIONCurrent projects and a forecast of future developmentEnergy Transition Outlook 20262DNV Rise of renewables in the Gulf regionFOREWORDA new age of electricity generation is dawning in the Middle East and North Africa(MENA).This will be driven by 860 GW of solar PV
2、 installed from now to 2040 and a further 2,200 GW of additional solar and wind installed between 2040 and 2060.Brice Le GalloVice President&Regional DirectorSouthern Europe,Middle East,Africa and Latin AmericaHowever,this increased generation will be matched by a rise in electricity demand such tha
3、t renewable electricity will not displace gas-fired power until 2040.All demand sectors will grow following increasing GDP per capita,but cooling alone will contribute 30%of electricity demand growth to 2035 as temperatures rise and growing GDP broadens access to,and demand for,cooling.The regions h
4、istorical contribution to the global energy system has been driven by oil and gas exports,which have also formed the backbone of domestic consumption.Before 2020,it was importer countries that were responsible for most new solar and wind installations as they sought to reduce their fossil dependence
5、.More recently,the steep decline in costs of solar,wind and battery technologies coupled with abundant resources and ambitious climate targets have driven wealthy fossil exporter nations to accelerate their renewable build-out.The same countries are also heavily investing in financing upcoming renew
6、able expansion in neighbouring countries and the wider Middle East.In this report we forecast future developments in MENAs energy transition and complement our findings with real-world cases drawn from a narrower Gulf-region.3HIGHLIGHTSHIGHLIGHTSVariable renewable electricity generation to grow 14-f