Solar energy in Europe and MENA countries

In May-July 2022, specialists of Avenston Group conducted an in-depth analytical study of the current state and development prospects of the solar energy market for Europe, North Africa and the Middle East. This work was carried out as part of a consulting agreement with the customer and aimed at identifying the most attractive markets for further investment over the next 6-18 months.

As part of the study, investment opportunities for utility-scale solar power projects in selected countries were carefully examined according to the following set of criteria:

• Growth dynamics of the renewable energy market.
• National obligations and goals of countries in the field of solar energy.
• The level of potential electricity generation.
• The nature of existing and prospective mechanisms of state support.
• Potential price range for selling solar electricity.
• Doing Business and Corruption Perception indices.
• Financial indicators (IRR, payback period, LCOE).
• Expert opinions, etc.

As a result, we have identified several general trends that are true for most of the countries under consideration. Among other things, it can be concluded that in the face of declining costs of technology and equipment, as well as a sharp increase in energy prices for end consumers, direct electricity purchase agreements between producers and consumers of electricity are becoming increasingly popular.