Arab World Sees $351 Billion Investment in Renewable Energy, Generating 83,000 Jobs

The Arab region attracted 360 foreign-backed renewable energy projects between January 2003 and December 2024, with investments surpassing $351 billion and creating over 83,000 jobs, according to a new report by the Arab Investment and Export Credit Guarantee Corporation (Dhaman).

Five countries—Egypt, Morocco, the UAE, Mauritania, and Jordan—accounted for 248 projects, or 69% of the total, with a combined investment of $291 billion. These projects alone generated nearly 68,000 jobs, representing 82% of employment in the sector.

The UAE led the region in renewable energy investment over the past two decades, attracting 57 projects worth $88.5 billion, equivalent to a quarter of total investment, and creating over 16,000 jobs.

At the corporate level, Saudi Arabia’s ACWA Power topped project volume with 20 initiatives, while UAE-based Infinity Power led in value, with projects totaling $34 billion.

The report also highlighted cross-border collaboration. Saudi Arabia, the UAE, Bahrain, Jordan, and Egypt invested in 90 interconnected projects worth $113 billion, accounting for a quarter of all foreign-backed activity and generating 22,000 jobs.

Looking ahead, electricity generation across 15 Arab countries is projected to expand by 4.2%, exceeding 1,500 terawatt-hours (TWh) in 2025 and reaching 1,754 TWh by 2030. Production will remain concentrated in Saudi Arabia, Egypt, the UAE, Iraq, and Algeria, which together represent nearly three-quarters of output.

Consumption is expected to grow 3.5%, reaching 1,296 TWh in 2025, led by Saudi Arabia, Egypt, the UAE, Algeria, and Kuwait.

Trade in electricity and power generation equipment also surged, with foreign trade in the sector rising 8% to $39.2 billion in 2024. Exports increased 9% to $7.6 billion, while imports rose 7.8% to $31.5 billion. Saudi Arabia, the UAE, Morocco, Iraq, and Qatar accounted for 81% of this trade.

Turkiye emerged as the top electricity exporter in the region at $446 million, while the US dominated power equipment supply at $6.6 billion. On the import side, Libya was the largest regional buyer of electricity at $59 million, and France led power equipment imports at $593 million.