Renewable Energy StoriesRenewable Energy Stories
  • Home
  • Solar News
    • Utility Scale
    • Rooftop Solar
    • Manufacturing
  • Other Renewables
    • Wind Energy
    • Biofuels
    • Hydro Power
    • Others
  • Storage
    • Lithium-Ion
    • Large Storage (100 kW+)
    • Small Storage
    • Battery Technology
  • Research
  • Finance
  • Events
  • Advertise
Facebook Twitter Instagram
India Edition | South East Asia Edition
Facebook Twitter LinkedIn
Renewable Energy StoriesRenewable Energy Stories
  • Home
  • Solar News
    • Utility Scale
    • Rooftop Solar
    • Manufacturing
  • Other Renewables
    • Wind Energy
    • Biofuels
    • Hydro Power
    • Others
  • Storage
    • Lithium-Ion
    • Large Storage (100 kW+)
    • Small Storage
    • Battery Technology
  • Research
  • Finance
  • Events
  • Advertise
Renewable Energy StoriesRenewable Energy Stories
Home » Opec Fund Makes String of Investments Across ME For Renewable Projects
Finance

Opec Fund Makes String of Investments Across ME For Renewable Projects

By Lakshita Kapoor Wed, Dec 11th, 2024
UAE-Funded Solar Plant Brings Clean Power to Comoros
UAE-Funded Solar Plant Brings Clean Power to Comoros
Share
Facebook Twitter LinkedIn Pinterest Email

The OPEC Fund for International Development has recently approved several renewable energy projects in the Middle East, as part of broader development financing for 2024. Among these initiatives, allocations have been made to expand clean energy infrastructure and reduce reliance on fossil fuels in the region.

In Egypt, a $40 million loan has been allocated for the construction of two wind farms in the Gulf of Suez. These wind farms will have a combined capacity of 1.1 gigawatts (GW) and are expected to supply clean energy to over 1.3 million households. This project aligns with Egypt’s national plan to source over 40 percent of its electricity from renewable energy by 2035.

In Mauritania, a $40 million loan will co-finance the Mauritania-Mali Power Interconnection Project, which includes the development of solar power plants. This initiative aims to expand access to electricity for 80,000 households while promoting renewable energy and reducing greenhouse gas emissions.

Türkiye is also receiving financing for renewable energy initiatives. A €50 million loan has been approved for the Climate Finance Facility Project. The project will support investments in renewable energy and energy efficiency, contributing to Türkiye’s long-term climate targets, including its net-zero goal by 2053.

These projects showcase the ongoing efforts in the Middle East to address growing energy demand through sustainable methods. By increasing renewable energy capacity, countries aim to lower carbon emissions, enhance energy security, and support economic development.

Renewable energy development remains a priority for several countries in the region as they diversify their energy sources. Projects such as wind farms in Egypt, solar installations in Mauritania, and green finance initiatives in Türkiye demonstrate the shift toward cleaner energy systems. These efforts are part of broader global strategies to promote sustainability and tackle climate change.

2030 target financing Middle East New Projects OPEC Fund for International Development renewable energy
Share. Facebook Twitter Pinterest LinkedIn Tumblr Telegram Email
Lakshita Kapoor
  • Website

Related Posts

New Wind Talks Blow Through Morocco

July 10, 2025

South Africa Plans New Skills for Green Jobs

July 9, 2025

Egypt Turns Up the Solar Switch

July 8, 2025

Leave A Reply Cancel Reply

four + eleven =

Latest News
  • New Wind Talks Blow Through Morocco
  • South Africa Plans New Skills for Green Jobs
  • Egypt Turns Up the Solar Switch
  • Saudi ACWA Power Signs New Energy Deals in Indonesia
  • New Wind and Solar Deals Move Ahead in Egypt
Solar News

Egypt Turns Up the Solar Switch

July 8, 2025

UAE’s GSU Plans Solar Plant in Madagascar

July 1, 2025

Egypt Looks to Expand Solar and Smart Grid Plans with China

June 30, 2025

New Cooling Tech Raises Solar Cells Power And Longevity: Study

June 27, 2025
ADVERTISE WITH US

We are the no.1 B2B solar media in India. With SaurEnergy, you have a full menu of options to pick from to reach the largest audience for your products and services.

To get in touch, contact us at info[at]saurenergy.com

Or Call at 9891147599 / 8802315631

Facebook Twitter Instagram YouTube LinkedIn WhatsApp
Latest News
  • New Wind Talks Blow Through Morocco
  • South Africa Plans New Skills for Green Jobs
  • Egypt Turns Up the Solar Switch
  • Saudi ACWA Power Signs New Energy Deals in Indonesia
  • New Wind and Solar Deals Move Ahead in Egypt
SAURENERGY NEWSLETTER

Subscribe to Updates

Get the latest creative news from FooBar about art, design and business.

    [mc4wp_checkbox]

    © 2025 Saurenergy International.

    Type above and press Enter to search. Press Esc to cancel.

    Newsletter Subscription

      [mc4wp_checkbox]