Gulf Cooperation Council (GCC) member countries announced more clean energy facilities and renewables projects to diversify energy sources

Briefing

Gulf Cooperation Council (GCC) member countries announced more clean energy facilities and renewables projects to diversify energy sources

January 11, 2018

Briefing
  • Renewables in Middle East – Gulf Cooperation Council (GCC) countries, including Saudi Arabia, United Arab Emirates, and Oman announced construction of more clean energy facilities and higher renewables use in long-term to diversify energy sources
  • Higher Renewables in Energy Mix – Saudi Arabia, UAE, and Oman target increased renewable share in energy mix to 10% by 2023, 44% by 2050, and 10% by 2025, respectively
  • Lower Generation Costs – Solar and wind becoming more competitive as generation costs drop, with solar photovoltaics expected to decline 66%, offshore wind by 71% and onshore wind 47% by 2040

Accelerator
Clean Energy Generation, Distribution and Management

Sector
Energy

Organization
Gulf Cooperation Council (GCC)

Source

Original Publication Date
January 4, 2018

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