JEDDAH: The Arab world attracted 360 foreign renewable energy projects between January 2003 and December 2024, with investments surpassing $351 billion and generating more than 83,000 jobs, according to a new report from the Arab Investment and Export Credit Guarantee Corp., known as Dhaman.
Five countries — Egypt, Morocco, the UAE, Mauritania and Jordan — accounted for 248 projects, or 69 percent of the total, with a combined investment value of $291 billion. These projects alone created nearly 68,000 jobs, representing 82 percent of employment in the sector.
The UAE led regional renewable energy investment over the past two decades, attracting 57 projects worth $88.5 billion, equivalent to a quarter of total investment and generating over 16,000 jobs.
At the corporate level, Saudi Arabia’s ACWA Power topped the list by project volume with 20 initiatives, while UAE-based Infinity Power led in value, with projects totaling $34 billion.
Dhaman’s report also highlighted cross-border cooperation, noting that Saudi Arabia, the UAE, Bahrain, Jordan and Egypt invested in 90 interconnected projects worth $113 billion, accounting for a quarter of all foreign-backed activity and creating 22,000 jobs.
