Dii predicts renewable energy in MENA to reach 3.3 GW by 2015, proposes investment vehicle

31st October 2013  To: 31st October 2013

The Desertec  Industrial Initiative (Dii GmbH) has forecast that the capacity of renewable energy in the Middle East and North Africa (MENA) will nearly double to 3.3 GW by 2015, at the opening of the 4th Dii Desert Energy Conference in Rabat, Morocco. The organization predicts that Morocco will play a leading role, increasing its renewable energy capacity from 600 MW to 1.7 GW.

However, Dii warns that the amount of capital available for early-stage development is often limited in MENA. The organization has proposed an investment vehicle to help get early-stage renewable energy projects off the ground in the region, the Renewable Energy Development and Investment Vehicle for MENA (REDIMENA).

“North Africa and the Middle East are at the beginning of an impressive energy transition based on wind and sun. I am particularly pleased that companies from the Dii network play an important role in around half of the many upcoming projects,” said Dii CEO Paul van Son at the opening of the fourth Dii Desert Energy Conference. 

“Supporting the right projects in their early stages is a priority. This is why Dii has launched REDIMENA for promising projects."

As the next step, Dii and consulting company Suntrace GmbH (Hamburg, Germany) will perform a feasibility study for the REDIMENA concept, with the goal of identifying investors to set up the vehicle. Dii is aiming for an initial volume of EUR 30 million (USD 41 million).



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