In its report, Rise of Renewables in the Gulf Region, DNV highlighted that despite the growth in solar PV and wind generation, it would not displace gas-fired power until 2040, due to electricity demand growth exceeding the installed renewable energy capacity. DNV forecasts that electricity demand in the MENA region will triple by 2060.
If in the coming decade this demand growth will primarily come from buildings and desalination, from 2040 to 2060 the demand growth will be driven by the switch to electric vehicles, an increase in AI…