Saudi Arabia s 1 GW solar tender invites bids by June 3
The 1.2 GW, Covid-delayed third round of the kingdom s clean power program appears to be back up and running, despite the fact the top news story on the relevant government department s website is dated April 2020.A press release issued by London-based data company GlobalData yesterday appears to confirm online reports the 1 GW section of the much-delayed third round of Saudi Arabia s National Renewable Energy Program (NREP) has a June 3 deadline for bidders. GlobalData issued a statement about increasing competition between sovereign wealth fund driven Middle Eastern energy-project rivals .
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'Fortunately, there is still a window to examine and revisit the existing NDC prior to the global stocktake in 2023 to fill in the gaps, make it as clear and progressive as possible, and attract the international support being sought for implementation'
Dr Ahmed Ali Attiga: Energy transition in full swing
Mena energy investments to top $805bn by 2025: Apicorp
DAMMAM, Saudi Arabia, 23 days ago Overall planned and committed investments in the Mena region will exceed $805 billion over the next five years, said the Arab Petroleum Investments Corporation (Apicorp) in its Mena Energy Investment Outlook 2021. This marks a $13 billion increase from the $792 billion estimate in last year’s five-year outlook. The report attributes this modest rise to four factors: A strong confidence in the rebound of global GDP, rising energy demand, the comeback of Libyan projects– which alone accounts for around $10 billion in planned projects – and the accelerated pace of renewables in the region. Per current estimates, Mena will add 3GW of installed solar power capacity in 2021 alone – double that of 2020 – and 20GW over the next five years.
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The Arab Petroleum Investments Corporation (APICORP), a multilateral development financial institution, estimates in its MENA Energy Investment Outlook 2021-2025, that overall planned and committed investments in the MENA region will exceed US$805 billion over the next five years (2021–2025) – a US$13 billion increase from the US$792 billion estimate in last year’s five-year outlook.
The report attributes this modest rise to four factors: A strong confidence in the rebound of global GDP, rising energy demand, the comeback of Libyan projects – which alone accounts for around US$10 billion in planned projects – and the accelerated pace of renewables in the region. Per current estimates, MENA will add 3GW of installed solar power capacity in 2021 alone – double that of 2020 – and 20GW over the next five years.
APICORP’s (
www.APICORP.org),
latest MENA energy investment outlook sees a modest USD13 bn rise in committed and planned energy investment compared to previous year’s outlook; Renewables claim a significant share of almost 40% the estimated USD250 bn in power sector investments; Committed Gas investments projected to fall by USD9.5 bn to USD75 billion after completion of several megaprojects in 2020; An evolution in regulations is needed for MENA region to realize its energy storage potential; Additional capacity – particularly from renewables – will make power trading a more commercially viable option in MENA; MENA can emerge as a major blue and green hydrogen-exporting region thanks to low-cost gas resources and strong renewable energy progress.