A cloudy forecast

FEATURE / Renewable Energy

A cloudy forecast ?

Bracewell ’ s Andrej Kormuth and Ade Mosuro consider the impact of the current inflationary environment on developers and stakeholders in the Middle East and look for the silver lining in region ’ s renewables market .

R enewables has become the buzz word in the energy and infrastructure space like no other . Certainly 2021 closed out with record procurements across the Gulf and the Middle East more broadly , signalling an entrenched energy transition which few would call anything less than the new normal . The figures are always tricky to compile with absolute accuracy , but Saudi ’ s 1.4 GW round two of renewables procurement neatly sped into 1.2 GW of round three , with round four being touted as “ imminent ”. The United Arab Emirates has closed or is in the process of procuring over 5 GW of renewables . Oman is procuring 500 MW of solar PV power , and Qatar continues to build its first ever renewables plant at Al Kharsaah ( totalling 800.15 MW , which we closed a year earlier ) that will put the upcoming football World Cup in October into the history books as the first ever carbon neutral sporting super-event .

This is all but a snapshot of some eye watering predictions , including by the
16 ISSUE 114 • JULY - AUGUST 2022