The Middle East is becoming Europe’s green electricity powerhouse

The successful restructuring of the energy industry is at least as essential for the consumers of the sustainably generated energy as it is for their suppliers. Because the countries in the region, whose prosperity has so far been based largely on the sale of oil and gas, urgently need a new business model: If the fossil energy world increasingly turns into a hydrogen economy, there could be economic and political upheaval in the region, comparable to the financial crisis after the Lehman bankruptcy, warns van Son.

That has long been clear to those responsible for politics in the region. They are in a race to expand green energies. The management consultancy Roland Berger calculated that the region could bring up to 200 billion euros in sales potential at the end of 2021 if the desert were to turn green in this way. In addition, there would be around one million new jobs.

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