Middle East grows renewables capacity,frees up oil and gas exports

摘要

As a result of record-low tariffs and multiple countries aiming reduce use of crude and NG for power-and water desalination plant feedstock,the region's renewable sector is set to grow at a rapid pace.Last year,solar and wind power made up 1% of the Middle East's power generation.In fact,even as crude prices fell during the coronavirus pandemic,the share of renewables used in electricity generation has grown across the globe.So far,Oman,Qatar,Saudi Arabia,and the UAE have already developed renewable projects.Despite being the world's leading crude exporter,Saudi Arabia has invested in new renewables projects,including a wind farm,in order to free up more crude for exports.Ultimately,Saudi Arabia aims to add 1.2 gigawatts in solar capacity with an upcoming announcement for a solar project with the lower electricity cost the world Java,according to Prince Abdulaziz bin Salman.Qatar,like Saudi Arabia,is also aiming to increase its use of renewables to free up other forms of energy for export.Oman has already begun operation of a utility-scale power plant,which will free up 92.5MM m~3/y of NG for exports.The UAE aims to have 50% clean energy,including renewables and nuclear power,by 2050.