middle east

Oil has been the one major factor for war in the past 40 years across the world.  America has honored the brave soldiers that have volunteered to serve and protect our great nation. 

The newest report from the United Nations Environment Program (UNEP), in cooperation with Bloomberg New Energy Finance, a clean tech analytics firm, shows that the combined impetus of stimulus funding, feed-in tariffs (FiTs) and renewable portfolio standards (RPS) generated a record $211 billion globally in 2010 in renewable energy investment.

As oil prices continue to rise at a quick pace all eyes are looking to political unrest in the Middle East and North Africa. In particular the focus is on Libya where violence and revolt has led to a country wide slowing of oil production and in some cases a complete halt of operations at several state owned oil fields. Subsequently, oil prices have surged to US$100 a barrel.

Solar-panel maker SunPower Corp. (Nasdaq: SPWRA) this week completed its buyout of SunRay Renewable Energy, an international power plant developer with European and Middle Eastern operations.

SunPower Corporation (Nasdaq:SPWRA) has agreed in principal to buy SunRay Renewable Energy for US$277 million.

The Kingdom of Jordan has passed the long-awaited Renewable Energy Law.

First Energy Bank, a Bahrain-based investment bank, will build a $1 billion polysilicon plant in Saudi Arabia.

California solar start-up Ausra, has found its niche in the industry by providing solar thermal technologies to solar power plant developers.

The Desertec Foundation announced its Desertec Initiative this week, a unification of several EU-MENA (Europe, Middle East, North Africa) companies with the objective of tapping into the wealth of solar potential in North Africa's deserts.

If there's one thing we know about the Middle East is that it gets a lot of sunlight. And this relentless solar pounding on the region's deserts positions the Middle East as a major player in solar power generation.