Saudi Arabia and Morocco lead solar demand in MENA

The global solar market is expected to grow from 15.8GW in 2010 to 37.5GW by 2016 for $65.4bn, a compound annual grow rate of 15.5%, the report said. It added that while it was lower than the industry’s past history of 30%+ annual growth rates, it was a sign of the market’s increasing maturity and its move away from subsidies as a driver of growth.

“Morocco and Saudi Arabia are strong in the [Middle Eastern] region. Saudi Arabia grows quickly to a 120MW market in 2016, while Morocco grows a bit more modestly to a 54MW market the same year,” said Matthew Feinstein, an analyst with Lux Research.




 



Gavin Davids
Construction Weekly