The photovoltaics and solar thermal power plants market in the region's solar energy sector is expected to reach 3.5 gigawatts by 2015, according to the Middle East and North Africa Outlook 2013-2017 Report published by US-based Greentech Media (GTM) Research, which forecast that solar energy is expected to exceed a combined output of 10GW in the region by 2017.
A result of high solar irradiation, rising electricity prices and an increasing population throughout the region, the solar landscape is booming further.
Mathews said: "The Mena renewable energy market is expanding rapidly with a diverse range of countries announcing projects to exploit the region's abundant wealth of energy resources for economic growth and energy expansion.
"As of April, there were 106 renewable energy projects in the pipeline in the region, totaling over 7.5 gigawatts of new electric generation capacity. This is in addition to 10 major projects set to go ahead in the UAE, Kuwait, Oman, Egypt, Jordan and Morocco."
The majority of demand for solar energy will originate in Turkey and Saudi Arabia, with the latter leading the way towards the region's first gigawatt scale solar market by 2015, she said.
"An increasing number of countries in the Middle East are keen to invest in the region's thriving solar industry and with renewable energy sources in abundance – particularly solar power – the region is gradually tapping these resources to pave the way for a new market."
Nov 14 2013