MENA bucks the trend in global green investment

The Middle East and North Africa‘s (MENA) investment in the renewable energy sector has gone against the grain in terms of increased focus on funding according to a status report on the region issued this week.

Investment in renewables increased by 40 per cent from 2011 to 2012, according to the MENA Renewables Status Report 2013 while a worldwide decline was recorded over the same period.
MENA regional investments topped $2.9bn last year, indicating a transformation of the sector from a niche interest to a regional phenomenon.

At present, the MENA region has 380.24MW of installed solar photovoltaic capacity, 182MW of concentrated solar power, 1.1GW of wind power, 73.5MW from biomass and waste, and 17.6GW of hydropower.

The report was published by the International Renewable Energy Agency, the Renewable Energy Policy Network for the 21st century and the Directorate of Energy and Climate Change at the UAE Ministry of Foreign Affairs.

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