光伏发电行业海外光储洞见系列之二：能源转型迎机遇，出海中东正当时

Investment Rating - The report gives a rating of "Outperform" for the solar power industry [3]. Core Insights - The MENA region is experiencing a rapid energy transition, presenting significant opportunities for solar and storage solutions, as well as grid development [10][12]. - The solar market in MENA is projected to grow substantially, with installed capacity expected to reach 40 GW by 2024 and 180 GW by 2030, reflecting a compound annual growth rate (CAGR) of 28% from 2024 to 2030 [18][43]. - Trade barriers and domestic price declines are reshaping the export routes for Chinese solar companies, pushing them to explore the MENA market [27][48]. Summary by Sections MENA Energy Transition - The MENA region has abundant solar resources, with annual solar radiation exceeding 2000 kW·h/m² in several countries, making it a prime location for solar energy development [10]. - Countries like Saudi Arabia and the UAE are actively pursuing renewable energy goals to reduce reliance on traditional fossil fuels, with significant investments in infrastructure [12][23]. Solar Power Market - The MENA solar market is characterized by strong government support and ambitious renewable energy targets, with countries setting long-term goals for renewable energy generation [17][19]. - The region's solar capacity is expected to grow rapidly, with a projected increase from approximately 32 GW in 2023 to 180 GW by 2030, driven by favorable policies and economic conditions [18][43]. - The average price of solar power in the MENA region has begun to recover, reaching over 1.68 cents per kWh in 2023, enhancing the economic viability of solar projects [27]. Storage Solutions - The demand for energy storage in the MENA region is expected to grow significantly, with projections of deploying 40-50 GWh of storage projects by 2030 [10]. - Both front-of-the-meter and behind-the-meter storage solutions are becoming economically viable, with various applications emerging across the region [10]. Grid Development - The energy transition is driving the need for grid upgrades, with significant investments in high-voltage and flexible direct current (DC) technologies [10]. - The MENA region is witnessing a surge in grid infrastructure projects, with several contracts awarded recently, indicating a robust demand for grid equipment [10]. Investment Recommendations - The report suggests focusing on companies such as GCL-Poly Energy, TCL Zhonghuan, JinkoSolar, and others in the solar sector, as well as companies in the energy storage and grid sectors [10].