DNV, a Norway-based assurance and risk management provider, has released its 'Rise of renewables in the Gulf Region' report. According to the report, variable renewable energy capacity in MENA is projected to expand roughly tenfold by 2040 and continue increasing through 2060. Installed PV capacity is projected to increase from 76 GW in 2024 to 340 GW by 2029. Across the MENA region, solar and wind generation is expected to expand roughly fourteen-fold by 2040 as installed capacity rises ten-fold. By 2060, electricity is expected to meet 35% of total energy demand in the region. Within that supply, solar and wind together are projected to generate about 85% of electricity, including approximately 45% from solar and 40% from wind. Energy storage capacity is projected to increase from about 36 GWh to almost 9,500 GWh by 2060.