Moscow, Russia-based Neosun Energy, a global developer of solar energy solutions has lately announced the opening of a new regional office in Dubai, United Arab Emirates to extend its footprint to the MENA market. The company is also planning to open new offices in Saudi Arabia and Oman soon.
Historically known for its abundant oil reserves, the MENA region is now witnessing a paradigm shift towards sustainable energy sources, with a concerted effort to harness its vast natural resources for renewables.
According to the International Energy Agency (IEA), the MENA region is projected to add 62 GW of renewable energy capacity over the next five years. The projection aligns with COP 28 i.e. the United Nations Climate Change Conference that took place in Dubai from 30 November to 12 December 2023.
The growth acceleration for solar capacity in the region is expected to grow over three times that of the last five years – marking over 85 percent increase.
Speaking of the development, Ilya Likhov, CEO of Neosun Energy, in a press release said,
“The unique climatic conditions of the MENA region make it an ideal center for solar energy production. The UAE, Saudi Arabia, and Oman have one of the highest solar exposure rates globally, with solar irradiance from around 2,285 kWh/m2 to 7,004 kWh/m2,” said Likhov
Speaking of the MENA region as an ideal opportunity for solar energy solutions, Likhov says,
“As solar energy is the most cost-effective form of energy generation today, the MENA countries can produce the cheapest electricity. All of this is fertile ground for local entrepreneurs to utilize solar energy solutions to make their businesses more profitable,” Likhov adds
According to the company, one of the key advantages of Neosun’s solar installations is their adaptability for remote and off-grid locations, addressing the challenges of limited or unreliable conventional electricity access. By harnessing solar energy, businesses in remote areas can initiate operations independently of the grid, unlocking new avenues for economic growth and development. Today their projects are presented in 16 countries.
Speaking of the growth opportunities for local businesses in the MENA region, Likhov said,
“We are already in talks with potential partners in the MENA region. We strongly believe that the new Neosun Energy office will help to be closer to local businesses and commercial enterprises to provide them with affordable solar energy solutions: be it solar plants, innovative energy storage systems, or portable Power Hubs.”
“Using the new solar energy technologies will help local businesses to increase their cost efficiency and investment attractiveness,” Likhov concluded
