With the MENA region becoming an ever increasing force in the renewable energy space, law firm Eversheds has released the second edition of its comprehensive guide which examines the current landscape and development potential in the region.

The Eversheds Clean Energy and Sustainability Team has partnered with PwC’s Middle East Sustainability and Renewables Centre of Excellence to produce “Developing Renewable Energy Projects: A guide to achieving success in the Middle East.”

In addition to a full analysis of the renewable energy market across five jurisdictions, the second edition identifies the main issues affecting the industry and the key drivers for growth in the sector across the Middle East.

Designed for renewable energy executives and the financial services and investment sectors, the guide provides analysis of the key drivers in each jurisdiction, examination of each region’s market readiness, a breakdown of the current project status, overview of the regulatory policies and governing laws, and a summary of investment project opportunities.The guide was launched at this year’s World Future Energy Summit (WFES).

“The renewables sector in the Middle East is certainly more active now than it has ever been, and the potential for growth is vast. Jordan is currently in the process of closing the first round of solar projects, and we are fortunate to be advising on 10 out of 12 projects. The UAE is also gathering momentum in solar and we look forward to seeing future projects develop,” commented Michelle T Davies, Global Head of Clean Energy and Sustainability at Eversheds. “As more companies look to capitalise on the opportunities available in this buoyant market, this guide gives readers valuable insight and expert analysis to navigate this fast-growing industry.”

Gus Schellekens, Middle East Sustainability Leader at PwC, comments:“If we look back at 2014, a record number of renewable energy projects were awarded in the Middle East driven largely by significant reductions in costs of the underlying technologies. Other important drivers behind this headline include an ever increasing domestic demand for electricity, and Government desires to both diversify their energy supply and become less exposed to O&G price fluctuations. I expect all of these trends to continue strongly in the coming years which will result significant renewable energy capacity finally being built across the region.”