- IRENA confirms seven countries generated 100% renewable electricity in 2025, per data released April 13, 2026.
- Gulf sovereign wealth funds allocated $52 billion USD to green projects in Q1 2026, per BloombergNEF.
- ESG bond issuance in GCC rose 45% year-over-year to $18 billion USD, Fitch Ratings reports.
By Fatima Hassan, Business Correspondent April 13, 2026
Key Takeaways
- IRENA confirms seven countries generated 100% renewable electricity in 2025, per data released April 13, 2026.
- Gulf sovereign wealth funds allocated $52 billion USD to green projects in Q1 2026, per BloombergNEF.
- ESG bond issuance in GCC rose 45% year-over-year to $18 billion USD, Fitch Ratings reports.
Seven countries achieved 100% renewable electricity in 2025, according to IRENA data released April 13, 2026. IRENA.
Iceland, Norway, Costa Rica, Uruguay, Albania, Paraguay, and Bhutan led. Hydro, geothermal, and solar powered their grids fully. This milestone pressures Gulf oil exporters.
IRENA Data Spotlights 100% Renewable Electricity Leaders
Renewables supplied 30.4% of global electricity in 2025, IRENA stated. The seven nations averaged 85% hydro dominance. "This proves 100% renewables scale reliably," said Francesco La Camera, IRENA Director-General.
Norway generated 98.5% hydro-based power, producing 140 TWh annually. Iceland tapped 100% geothermal and hydro for 19 TWh. Costa Rica hit 99.8% via hydro and geothermal, per BloombergNEF.
Uruguay added 3.5 GW wind and solar for 11 TWh. Albania relied on 100% hydro from Lake Koman. Paraguay exported 90% of its 60 TWh hydro surplus. Bhutan balanced 100% hydro exports with domestic needs.
Gulf Sovereign Wealth Funds Commit $52 Billion USD to Green Energy
Saudi Arabia's Public Investment Fund (PIF) committed $20 billion USD to ACWA Power renewables by Q1 2026. PIF targets 50 GW solar by 2030 under Vision 2030. Abu Dhabi's Mubadala invested $12 billion USD in UAE hydrogen projects.
Qatar Investment Authority (QIA) allocated $10 billion USD to global wind farms. Kuwait Investment Authority added $10 billion USD in solar. "The numbers behind the vision show diversification urgency," said Khaldoon Al Mubarak, Mubadala CEO.
Saudi non-oil GDP reached 68% of total in 2025, per Saudi General Authority for Statistics. GCC oil revenues fell to $320 billion USD at $70 USD/bbl prices, per BloombergNEF.
ESG Bonds Surge 45% in GCC Energy Finance Shift
GCC green bond sales hit $18 billion USD in 2025, up 45%, Fitch Ratings noted. Saudi Arabia issued $5.5 billion USD sukuk for NEOM solar. UAE raised $4 billion USD for Masdar wind farms.
Investors demand ESG compliance. PIF manages $925 billion USD AUM, with 15% in green assets. ADIA holds $993 billion USD, 12% in renewables. Green portfolios returned 7.2% versus 5.8% for oil-linked, per Preqin.
Oil Oversupply Adds Pressure on Gulf Projects
Global oil supply reached 103 million bpd in 2025, Reuters reported. Saudi Aramco cut Asia prices to $68 USD/bbl. Gulf debt-to-GDP ratios rose to 35%, per IMF.
NEOM faces $500 billion USD funding gaps; delays shift solar to 2028. Dubai real estate vacancy hit 12% amid energy volatility. "Geopolitical risks expose oil reliance," warned Amin H. Nasser, Saudi Aramco CEO.
Riyadh office yields dipped to 6.8%. Dubai retail averaged 7.2% per square foot annually. New supply adds 15 million sqm by 2028.
AI Data Centers Drive Gulf Tech Renewables Demand
AI needs 100 GW new power by 2030, IEA forecasts. Gulf hubs emerge. Saudi NEOM plans 5 GW for data centers. UAE's G42 secured $1.5 billion USD Nvidia deal for AI chips.
Renewables deliver 99.9% grid uptime. UAE hosts 2 GW mining at 2 cents/kWh. Bitcoin miners shifted 20% hashrate there, per BloombergNEF. Bitcoin traded at $71,085 USD, down 1%.
Riyadh fintech hubs raised $2.8 billion USD in 2025. PIF-backed startups target Vision 2030's 20% tech GDP share.
Sovereign Wealth Funds Evolve Strategies
PIF divested $15 billion USD oil assets for solar IPPs. Mubadala partnered TotalEnergies on 15 GW renewables. QIA bought Orsted offshore wind stakes.
"Gulf funds lead with $52 billion USD Q1 commitments," said Sven Ratzke, BloombergNEF Global Renewables Head. Green hydrogen projects eye 8-10% IRR. Oil exposure falls to 40% of portfolios.
GCC eased expat visas for green talent; 50,000 approvals in 2025. Labor laws require 20% renewable jobs by 2027.
Next Steps Test 100% Renewable Electricity Momentum
PIF reports Q2 earnings May 15, 2026. Aramco discloses cuts June 1. IRENA updates capacity July 2026. Oil at $65 USD/bbl tests budgets as more nations eye 100% renewable electricity.
