Kuwait has clean energy projects worth $6.3 billion under implementation, while it has only 0.5% of the installed clean energy capacity.
There is optimism in future renewable and clean energy projects in the region, including blue and green hydrogen and ammonia schemes, as there are projects worth $54.1 billion, or 1.8 percent of regional GDP.
The two countries that continue to lead the region in terms of their energy transition potential are Morocco and Jordan, both of which have committed to 50% green energy by 2030. Both countries already have renewable and clean energy totaling more than 33% of total energy demand, both of which have seen above-average spending on new green capacity over the past five years, with each country allocating more than 2% of GDP.
Their spending on their projects is dwindling amid the deteriorating global economic situation, as the two countries have a lower-than-average value of previously implemented energy transition projects after the study phase – less than 1% of their respective GDP – and levels of Overall projects in Morocco are better than those in Jordan, which has $45.6 billion worth of schemes in the planning stage. The UAE comes in second in the region with a modest mix of green energy at 11.2%, having spent 1.1% of GDP, or $3.9 billion, on energy conversion projects in the past five years and has projects worth $16.3 billion in the pre-implementation phase, giving it a path Strong transmission of energy. Oman, which has only 5.7% of installed clean energy, needs to move faster to meet its 30% clean energy target, and its activity has recently waned.
In the past five years, $12.9 billion, or 1.5 percent of GDP, has been invested in clean energy projects, and $13.2 billion is planned in the design and tender stages. Another $54.5 billion of work is under consideration. Iran also has 13.8% of installed clean energy, thanks in part to the large size of its hydroelectric power plants.