(Oil Price)– The International Energy Agency (IEA) has revealed that electricity consumption in the Middle East and North Africa (MENA) has tripled since 2000, making the region one with the fastest-growing power demand on the planet. According to the IEA, the explosive growth was mainly driven by expanding populations and rising incomes, with air conditioning accounting for nearly half of peak demand. The energy agency has predicted that MENA will see another 50% increase in electricity demand by 2035 based on current policy settings, driven by urbanization, industrial expansion and rapid population growth.
However, MENA’s energy mix is set to undergo a radical makeover. According to the IEA, natural gas and oil dominate the MENA’s electricity mix, accounting for over 90% of total generation. However, the next growth phase will be driven by natural gas, renewable energy, and nuclear, while oil-fired output will contribute just 5% of total generation by 2035, down from 20% currently. The region’s solar capacity is expected to expand 10-fold to 200 gigawatts by 2035. Renewables’ share in MENA’s energy mix is set to increase to 25% by 2035 from 6% currently, with nuclear power also set to grow in the UAE, Egypt and Iran.
“Demand for electricity is surging across the Middle East and North Africa, driven by the rapidly rising need for air conditioning and water desalination in a heat- and water-stressed region with growing populations and economies. The region has already seen the third largest growth in electricity consumption globally since the start of the century, after China and India. To meet this demand, power capacity over the next 10 years is set to expand by over 300 gigawatts, the equivalent of three times Saudi Arabia’s current total generation capacity,” said IEA Executive Director Fatih Birol.
