FINANCIAL NEWS

Green energy up 5.3% in Arab world in 2010

07 Feb 2011

(MENAFN) Al Masah Capital issued a report on worldwide alternative energy consumption that shows an increase of 5.3 percent in the total consumption of alternative energy in the Arab area over the past year 2010, thus registering the second highest rate in the world after the Asia-Pacific region, reported Arabian Business.

According to the report, Arab world countries are pushed towards alternative energy resources as demand on energy is increasing, which compels countries to search for other non-fossil sources.

The increase in energy demand is due to growing infrastructural and real estate developments as well as growing population and water consumption.

It is worth noting that in 2008, Egypt had the largest share of green energy production as it accounted to 56.8 percent of the total production of the Arab world.

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