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.