The United Arab Emirates (UAE) is set to exceed its renewable energy capacity ambitions for 2030, according to the International Energy Agency (IEA) in its Renewables 2024 report. The report highlights that the combined renewable energy goal for countries in the Middle East and North Africa (MENA) region is to achieve 201 gigawatts (GW) of renewable capacity by 2030. Despite a more optimistic outlook for these markets compared to last year, the forecast still indicates that installed capacity may not meet their stated 2030 targets. Accelerated Auction Processes: The report emphasizes the need for faster implementation of auction processes. This would facilitate the wider adoption of corporate PPAs, promoting a more inclusive renewable energy market.

Source: The North Africa Journal October 13, 2024 19:25 UTC