RENEWABLE ENERGY AS DEVELOPMENT FACTOR FOR MIDDLE EAST AND NORTH AFRICA COUNTRIES

Abstract

Purpose: the article reviews the current trends in the development of the energy sector in the Middle East and North Africa. Discussion: an increasing role of renewable energy in the processes of global manufacturing and consumption of energy sources is considered in the article. The author suggests that energy component influences economic and political situation within every country in the considered region. Results: the development of renewable energy sources stimulates the growth of the regional economy and enables further diversification of the local industry, deeper processing of raw materials, technology transfer, reduction of negative impacts on the environment.