Developers of large-scale renewable energy projects in the Gulf Cooperation Council (GCC) must use innovative financing structures to minimize costs amid a growing demand for funding, the International Renewable Energy Agency (IRENA) said in a report on the Middle East region, published January 15. The GCC members are Saudi Arabia, [...]
Saudi Arabia, UAE, Qatar, Bahrain, Oman & Kuwait Targeting More Than 50 GW of Solar Capacity by 2032
GCC countries will drift from hydrocarbons to renewable energy in order to diversify energy mix as per findings by recent research study “GCC Renewable Energy Sector Opportunity Analysis” by KuicK Research.
The report offers solar energy (PV and Concentrating Solar Power) project details for each market along with country-specific demand forecasts to 2017.
Frost & Sullivan forecast concentrated solar power (CSP) to grow at a CAGR of approximately 40 percent.
The concentrated solar power (CSP) sector is expected to finally spring to life – and begin its travel down the cost curve – as the oil and gas-rich Gulf nations deploy their massive sovereign wealth in solar technologie