ANNOUNCEMENTS
The demand for energy will rise as the world's population continues to grow. Fossil fuel resources are depleting, and their use has been linked to environmental damage. This emphasizes the need for increased investment in energy resources that can meet global demand while still being environmentally friendly. Solar, wind, and hydropower are all successful and widely available sources of clean energy, but investment in them has fluctuated. This study mainly focuses on the geographical regions Europe, Africa and Middle East. African and Middle Eastern countries have enormous potential for renewable energy and they are the most vulnerable to the impacts of climate change. The Middle East and Africa’s energy consumption is rapidly rising. “This is owing to population increase, socioeconomic development, and urbanisation, all of which are fueled by oil and gas income as well as growth-oriented policies”. Furthermore, governments in the region provide the biggest energy subsidies in the world. “This helps to explain the high electricity demand and per capita carbon dioxide (CO2) emissions” Therefore, this study analyses how Europe is the leader in the transition of clean energy by establishing a strong complementarity between sustainable development and protection of climate in the energy sector through interventions of policies. It further analyses the gaps through extensive document analysis of market barriers and enablers for Africa and Middle East to find the market opportunities for the investors to invest in the renewable market by EU for mutual benefits.
Keywords- Renewable Energy Policies, Clean Energy Transition, MENA region, Energy Sector, European Union.
