- MENA assessment gathers information on 136 markets worldwide, including 107 emerging markets and 29 developed nations.
- Oman’s vision 2040 goal is to attain 39% total energy supply.
- The Ibri plant, with a capacity of 500MW and an area of 13 million square meters, was built for RO155 million.
Climatescope is a market assessment and index that assesses the global conditions for energy transition investment and the ability to attract capital for low-carbon technologies while constructing a greener economy. It also provides a snapshot of where clean energy policies and financing stand today and a forecast of what might happen.
This year’s assessment gathered information on 136 markets worldwide, including 107 emerging markets and 29 developed nations.
Nigeria, South Africa, Oman, Namibia, and Jordan are the top five MENA countries. The UAE is ranked sixth, Saudi Arabia is ranked sixteenth, Qatar is ranked thirty-sixth, and Kuwait is ranked forty-seven. Bahrain was not evaluated.
As part of Oman Vision 2040, the Sultanate has established a policy to transition to alternative energy to reach an average of 39% of the total energy supply by 2040. This vision has been translated into a regulatory framework thanks to the efforts of the Authority for Public Services Regulation to enable optimal use of energy sources and the development of renewable energy projects to support economic diversification plans and promote sustainable energy.
The Ibri Solar Power Project, Oman’s largest renewable energy project, is a translation of the country’s energy diversification strategy. The Ibri plant, with a capacity of 500MW and an area of 13 million square meters, was built for RO155 million.
Oman is also implementing a clear policy to introduce wind energy as an alternative energy source. The Dhofar Wind Power Plant, located in the wilayats of Shalim and Hallaniyat Islands, is the region’s largest wind power plant, with a capacity of 50MW and a total area of 1,900 hectares built at the cost of RO38 million.