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FinancialNews
06-11-19
GCC to create USD76bn savings from renewable energy by 2030
(MENAFN) The GCC is rapidly adopting renewable energy generation, with the International Renewable Energy Agency (IRENA) forecasting that the region could see cumulative cost savings of USD76 billion by 2030.
IRENA said, The GCC"s installed power capacity grew four-fold between 2014 and 2017, adding that the UAE, which already hosts 68 percent of the GCC's installed renewable energy capacity, hopes to generate 50 percent of its power from renewable by 2050.
The figures come in advance of the World Future Energy Summit's Energy Expo & Forum, to be hosted by Masdar from January 13-16, 2020 as part of the Abu Dhabi Sustainability Week.
MENAFN0611201900450000ID1099230281
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