Regulations on Middle East renewable energy industry starting to take shape
The renewable energy industry remains at a relatively early stage of growth in most Middle Eastern countries and establishing regulatory frameworks will be a crucial part of that early growth.
May 2023 Al-Monitor PRO Trend Report
4,173 words
Introduction
In January 2023, the World Bank released a report on the state of energy policies and regulations globally. The Regulatory Indicators for Sustainable Energy (RISE) report ranks countries out of 100 depending on how advanced their renewable energy regulatory frameworks are.
The World Bank report ranks Oman as the first in the MENA region — and sixth globally — when it comes to regulatory indicators. Oman achieves the maximum score of 100 for its renewable energy legal framework and the maximum for renewable energy expansion. The country also achieves a high score of 94 for incentives and regulatory support for electricity, and 92 for financial and regulatory incentives.