The oil-rich Middle East is boosting investments in renewable energy generation at home and abroad. Just a few years ago, this notion would have raised a few eyebrows. But these days, Persian Gulf companies’ increased investments in solar and wind power in the region and around the world make perfect sense in a world that begins its long energy transition journey and a Middle East suffering from low oil prices. The largest power firms in some of OPEC’s leading producers expand their international footprint, aiming to capture part of the booming global renewable generation market. At home, power companies invest in boosting electricity generation from clean sources in the Middle East, freeing additional barrels of crude oil—which is burnt for electricity in OPEC’s top producer Saudi Arabia, for example—for exports and for additional government revenues. Two of the largest and most influential OPEC members, Saudi Arabia and the United […]