Consulting company Wood Mackenzie published a forecast for the development of wind energy sector in the Middle East for the next decade: Middle East Wind Power Market Outlook 2019-2028.
By 2021, 2 GW of wind farms will be built in the Middle East, by 2024 – 6 GW, by 2028 – 13.5 GW, according to the authors. About half of these volumes will be in Saudi Arabia – 6.2 GW.
Recently, Saudi Arabia announced a new goal for the development of renewable energy by 2030 – 58.7 GW. Thus, the forecast of the consulting company in terms of wind farms development is less ambitious.
Consultants explain such a result by the fact that the Investment Fund of Saudi Arabia (Public Investment Fund - PIF), which is responsible for the implementation of renewable energy projects, does not have enough experience of such work, moreover it is supposed to organize the localization of equipment production.
“There is no doubt about the financial strength of the fund, but its past investment strategy was focused on companies from traditional industries. Striving to create a value chain for wind and photovoltaic technologies in the field is another type of game that requires the acquisition of new skills for effective supervision of these enterprises”, notes senior analyst Sohaib Malik.
It was reported earlier that the Swedish company Svevind received consent to the construction of a wind farm. As part of this project, it is planned to implement 1100 wind farms.
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