Financing renewable electricity in the resource-rich countries of the Middle East and North Africa: A review

Renewables in the resource-rich countries of the Middle East and North Africa (MENA) are inconsequential contributors to regional total primary energy supply, but recent project developments and overt support from a range of influential regional actors suggest a general trend towards a more environmentally sustainable electricity supply. This trend is driven just as much by economics as other factors, as rapidly falling renewable energy capital costs are complementing favourable policy environments, technical suitability, and concerns around the impacts of anthropogenic climate change. Finance is an especially important consideration in this transition, yet it receives insufficient coverage. This paper seeks to remedy this deficiency of academic inquiry. At the root of our inquiry lies a simple pair of questions: what makes a project financeable, and what can the resource-rich nations of the region do to create vibrant clean electricity financing markets for renewables? We outline the factors that affect the financeability of projects, review the latest developments in renewable energy finance in the region, and present policy recommendations going forward.

Executive Summary

By: Joel Krupa , Rahmat Poudineh

Related Publications

Latest Tweets from @OxfordEnergy

  • GCC continues to invest in new capacity despite low oil prices while Iraq suffering from cuts, an OIES presentation https://t.co/mnZ2otLglu

    February 24th

  • Malcolm Keay cited in The Economist: The utility business model is broken, and markets are, too https://t.co/DeeWroJXGj

    February 23rd

  • New OIES study on Russia: Production in 2017 reach 11.16mb/d, rise to 11.4mb/d in 2020 declining to 11mb/d by 2025… https://t.co/tHm7pmJ7gJ

    February 22nd

Sign up for our Newsletter

Register your email address here and we will send you notification of new publications, comment, articles etc. automatically.