United Arab Emirates Renewables Q2 2019
After upgrading our forecasts last quarter on the back of an expansion of the fourth phase of the Mohammed binRashid Al Maktoum Solar Park, we have left them largely unchanged this quarter. We foresee solar generation rising from 1.25TWh in2018 to 4.76TWh in 2019 and 13.66TWh in 2028, accounting for close to 100% of renewabales generation throughout. Meanwhile,we forecast that the renewables sector will increase its share of overall power generation in the UAE from 0.9% in 2018 to 3.4% in2019 and 6.9% in 2028. While Emirates Water & Electricity Company invited expressions of interest in a 2GW photovoltaic project inmid-February 2019, we have not yet factored this into our forecasts, as we await concrete progress on this fresh initiative. Risks toour renewable forecasts are therefore to the upside, overall.
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