Clean Energy To Head Agenda In 2020
10 Jan, 2020

Governments are forging ahead with renewable energy programmes, fuelled by the rapid fall in the cost of developing solar and wind power. Despite a slowdown in the value of contract awards in the Middle East and North Africa (Mena) power sector in 2019, the transition towards alternative and cleaner forms of energy will be the prominent theme in the region’s electricity sector in 2020.  For the first ten months of 2019, the $12.2bn-worth of contract awards for power projects in the Mena region was significantly down on the $20.2bn awarded for the same period in 2018. A combination of reduced peak demand growth for electricity across the GCC – a result of muted economic growth and energy efficiency measures being undertaken by utilities – and the completion of construction work on major power plants can largely account for the drop in new projects activity over the past year. The new year should record a pick-up in awards for power generation projects as several large utility-scale schemes move through bid submission and evaluation on to award. Moving further into 2020, it will be the region’s burgeoning renewable energy sector that should offer the most opportunities for investors and energy companies seeking to boost order books.