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

Briefing

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	Paraskova, T., "Low cost renewables are creating a new Middle East", OilPrice.com, https://oilprice.com/; Gnana, J., "More renewable projects in the pipeline for GCC countries in 2018", The National, http://www.thenational.ae/; AcceleratingBiz analysis
Original Publication Date	January 4, 2018

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