Gulf Investors Plug Into Solar Projects in Egypt, Jordan, and Morocco

Ashraf Abdel Rahman

Guest Contributor

May 12, 2025

Gulf financiers and sovereign wealth funds have increasingly invested in solar energy projects across the Middle East and North Africa region in recent years. These projects demonstrate the efforts by the member states of the Gulf Cooperation Council to diversify income streams and reduce reliance on oil revenues. They also serve as instruments of soft power, reinforcing the GCC states’ regional influence. 

National strategies such as Saudi Arabia’s Vision 2030 and ‘We the UAE 2031’ highlight the importance of economic and energy diversification. In this context, solar energy investments position GCC states as key actors in both regional and global energy transitions.

Gulf sovereign wealth funds are channeling investments into solar projects through companies including ACWA Power (part-owned by Saudi’s Public Investment Fund), Masdar (financed by Abu Dhabi’s Mubadala), and AMEA Power, a notable privately financed player based in Dubai. ACWA Power, Masdar, and AMEA, have established a prominent presence in MENA countries such as Egypt, Morocco, and Jordan—each offering distinct opportunities and challenges for solar energy development.

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Photo: MASEN