Geothermal Energy Growth in the Middle East: Investments and Projects
Geothermal energy investments in the Middle East are projected to reach $1 trillion by 2035, driven by technological advancements and national strategies. This transition to renewable sources aligns with global efforts to reduce carbon emissions and enhance energy security.
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The geothermal energy market in the Middle East is estimated at $239.51 million in 2024 and is expected to grow to $472.86 million by 2033, with a compound annual growth rate of 7.7%. Notably, Saudi Arabia holds a 35% share of this regional market, focusing exploration on volcanic fields in the western Arabian Shield.
ADNOC and Tabreed are developing the GCC's first geothermal cooling plant in Masdar City, while EDF Saudi Arabia and TAQA Geothermal Energy Company are working on a utility-scale project for clean electricity generation. The International Renewable Energy Agency (IRENA) anticipates that 90% of global electricity could come from renewables by 2050, reinforcing the significance of geothermal energy as a stable and low-emission power source. The emphasis on advanced engineering solutions is vital for operational reliability and efficiency in geothermal operations, especially under extreme conditions.
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