Middle East Second Most Popular Region for Renewable Energy Investment

The Middle East is the second most popular region for renewable energy investment after North America, according to a recent report from UK-based law firm Ashurst.

The region is home to some of the largest renewable energy bets in the world. The UAE, for instance, is currently developing the Mohammed Bin Rashid Solar Park, the world’s largest concentrated solar power project in the world.

“Considering the huge renewable energy resources available in the region it is not surprising that the Middle East and North Africa ranked so highly for current and future investment. Added to that, the record-breaking low prices of solar in the region make the technology incredibly attractive to developers,” said Ashurt’s Head of Middle East David Charlier.

The report gathered data from over 2,000 senior business people in the Group of 20 countries that either work for energy companies, are investors in energy, service providers to energy companies, or have responsibility in energy decision making for other sector companies.

Around 26 percent of respondents to the survey in the Middle East said that they were presently investing in energy transition, marking the region as the most popular for current investment in renewables, while 11 percent added that they were considering investing.

In North America, the most popular region, 28 percent said that they were currently investing, with 11 percent stating they are considering investing.