The Middle East has emerged as a leader in the adoption of renewable energy sources, with several countries setting ambitious long-term targets for renewable power and energy use. Oil producers seek to diversify their economies, while all Middle Eastern countries aim to enhance energy security. Incorporating renewables into the future energy mix has therefore become a high priority.
Across the region, countries have included renewable power targets as a key part of international climate pledges. Record-low solar electricity prices, achieved through auctions, have put the Middle East on the global map for renewables and are contributing to steadily improving cost-competitiveness against fossil fuels.
The growing demand for power is shown by successful bids in renewable energy projects that are supported by promising policies and frameworks. Adopting ambitious targets, MENA countries launched a USD 200 billion programme to develop renewable energy through sustainable projects in the region.
The Middle East Investment Forum aims to scale up renewable energy investments in the region, support project development and implementation, and contribute to the creation of policy and regulatory frameworks conducive to renewable energy investments.
The regional forum is part of IRENA’s contribution to the Climate Investment Platform (CIP), which aims to advance sustainable energy projects to investment maturity and facilitate their access to finance.
Key forum activities include matchmaking between projects, project developers, and potential financiers and investors. Renewable energy projects, along with renewable-based electricity grid and energy efficiency projects, may be considered for support.
Submit a Request to obtain support for project development and/or access to finance for a renewable energy project in the Middle East..