The Middle East & Africa Renewable Energy Market is analyzed in this report across type of energy source, technology, investment model, application, End-User Industry, and region, highlighting major trends and growth forecasts for each segment.

Introduction

The renewable energy landscape in the Middle East and Africa (MEA) is undergoing a transformative shift, becoming a cornerstone in the region’s efforts to diversify energy sources and advance sustainability goals. Governments and private sector stakeholders are rapidly embracing renewable technologies to enhance energy security, reduce carbon emissions, and drive economic diversification. Solar photovoltaics, onshore and offshore wind, hydropower, and emerging technologies like green hydrogen and energy storage are playing central roles in this transition.

With projections estimating the MEA renewable energy market to reach USD 32.8 billion by 2030, the region is experiencing strong growth. This momentum is driven by surging electricity demand, favorable policy environments, international capital inflows, and the abundance of natural renewable resources. Bold national strategies—including Saudi Arabia’s Vision 2030, the UAE’s Energy Strategy 2050, and South Africa’s IRP—are setting ambitious renewable deployment targets. Valued at approximately USD 20.3 billion in 2024, the market is expected to expand at a robust CAGR of 8.3% through the forecast period.

Market Dynamics

The MEA renewable energy market is gaining momentum, fueled by a combination of rising energy needs, supportive policy frameworks, and falling technology costs. Governments across the region are intensifying efforts to diversify their energy mix, reduce fossil fuel dependency, and meet climate targets. Solar PV and wind technologies are becoming increasingly cost-competitive, prompting a wave of utility-scale projects and grid modernization initiatives.

The region presents strong opportunities for innovation and investment. Off-grid solar is scaling rapidly to meet rural electrification needs, while countries such as the UAE, Saudi Arabia, and Egypt are executing billion-dollar renewable energy programs. In Sub-Saharan Africa, distributed energy resources and solar mini-grids are enabling power access in underserved regions, helping address longstanding grid challenges.

Key market trends include the accelerating deployment of green hydrogen, growing emphasis on storage integration, and the development of cross-border energy interconnection initiatives. Green hydrogen, in particular, is gaining traction with support from national hydrogen strategies. Egypt and Saudi Arabia are leading the charge—AMEA Power’s 1 GW green hydrogen project in Ain Sokhna and ACWA Power’s $5 billion initiative in NEOM are setting the tone for regional hydrogen leadership.

Advancements in digital infrastructure, including AI-enabled energy management systems and smart grid technology, are driving new efficiencies across the value chain. As countries in the region pursue energy resilience and environmental sustainability, the renewable energy sector is poised to play a foundational role in shaping MEA’s long-term energy and economic future.

Segment Highlights and Performance Overview

By Type of Energy Source

Solar energy dominates the energy source segment, representing approximately 53.5% of the total market. Solar photovoltaic (PV) accounts for 50% to 55% of installed capacity across the Middle East, supported by abundant solar irradiance, cost reductions, and large-scale national solar programs. Countries like the UAE and Saudi Arabia are accelerating utility-scale PV deployment, making it a central component of the regional energy transition.

By Technology

Electrolysis leads in green hydrogen production technologies, representing 60% to 65% of pilot and commercial hydrogen projects. As the primary process for converting renewable electricity into hydrogen, its adoption is gaining pace amid growing policy support in countries such as Saudi Arabia, Egypt, and Morocco.

By Investment Model

Public-Private Partnerships (PPP) are the dominant investment model, accounting for 45% to 50% of project development activity. MEA governments are increasingly relying on PPP structures to attract private capital, share investment risks, and expedite renewable infrastructure development.

By Application

Utility-scale power plants account for 60% to 65% of renewable energy installations as of 2024. Major solar and wind farms are being developed to support national grids, reduce fossil fuel reliance, and meet rising energy demand across urban and industrial zones.

By End-User Industry

The power & utilities sector represents the largest end-user category, comprising 65% to 70% of regional renewable energy consumption. Utilities are driving grid decarbonization efforts, integrating renewables to enhance supply diversification and align with evolving regulatory mandates.

Geographical Analysis

The Middle East & Africa Renewable Energy Market is examined across key regions, including the Kingdom of Saudi Arabia, the United Arab Emirates, Egypt, Turkey, South Africa, Israel, Nigeria, and the Rest of Middle East & Africa.

The United Arab Emirates (UAE) leads the MEA renewable energy market with an estimated 30% market share. This leadership is underpinned by sizable investments in solar and wind projects, progressive policy frameworks, and long-term clean energy targets, including the UAE Energy Strategy 2050.

Sub-Saharan Africa is projected to record the fastest growth over the forecast period, with countries like Nigeria, Kenya, and South Africa at the forefront. Key growth factors include rural electrification programs, increasing deployment of off-grid solar solutions, and expanding international investments in clean energy infrastructure.

Competition Landscape

The competitive landscape in MEA’s renewable energy sector features a diverse mix of regional developers, global energy firms, and public-private entities. Players are competing through large-scale project execution, strategic partnerships, and innovation in solar, wind, and hydrogen technologies.

Key market participants include Bboxx, Infinity Power, Arnergy, Lumos Global, Rensource Energy, Serengeti Energy Limited, Powerhive, ACWA Power, Saudi Aramco, Abdul Latif Jameel Energy, Masdar, AMEA Power, Yellow Door Energy, SirajPower, and Enlight Renewable Energy. These companies are actively shaping the region’s transition toward low-carbon energy systems.

Key Developments

• On May 29, 2024, Rensource Energy partnered with Green Fuels to develop a 4.7 MWp solar PV-gas hybrid system for Valentine Chickens in Kwara State, Nigeria. This initiative strengthens decentralized energy adoption and highlights the growing role of hybrid systems in addressing energy access challenges in agro-industrial and rural markets.
• On February 19, 2025, ACWA Power signed a $2.3 billion agreement to develop a 2.0 GW wind project in Egypt, marking its largest wind investment in the country. This flagship development significantly boosts Egypt’s wind capacity, supports its clean energy targets for 2030, and is expected to attract further foreign investment into the national renewable sector.

Segmentation included in the report:

By Type of Energy Source:

• Solar Energy
  • Photovoltaic (PV)
  • Concentrated Solar Power (CSP)
• Wind Energy
  • Onshore Wind
  • Offshore Wind
• Hydropower
  • Small Hydro (≤10 MW)
  • Large Hydro
• Bioenergy
  • Biomass
  • Biogas
• Geothermal Energy

By Technology:

• Electrolysis
• Thermochemical
• Biomass Gasification
• Steam Methane Reforming (SMR)
• Photocatalytic Water Splitting
• Others

By Investment Model:

• Public Sector / Government Projects
• Private Sector / Independent Power Producers (IPPs)
• Public-Private Partnerships (PPP)
• Foreign Direct Investment (FDI)

By Application:

• Residential
• Commercial & Industrial
• Power Plants
• Rural Electrification Projects

By End-User Industry:

• Power & Utilities
• Oil & Gas (diversification strategies)
• Agriculture
• Telecommunication
• Mining
• Construction & Real Estate

Companies:

• Bboxx 
•  Infinity Power
• Arnergy
• Lumos Global
• Rensource Energy
• Serengeti Energy Limited
• Powerhive
• ACWA Power
• Saudi Aramco
• Abdul Latif Jameel Energy
• Masdar
• AMEA Power
• Yellow Door Energy
• SirajPower
• Enlight Renewable Energy