The value of active pipeline and procurement wind and solar energy deals in the Middle East and North Africa (MENA) has dropped to $10.6 billion in the nine months to May 2017, from under $12.3 billion at the same time last year.

Total value of active deals in the region’s onshore wind and solar industries came to $1.8 billion and $8.7 billion, respectively, in the nine months to 24 May 2017 – marking a drop from the value of open opportunities up to the same time last year.

The market was buoyed by Kuwait and Morocco with $6.44 billion of active deals between them in the wind and solar sectors.

But despite the drop in the total value of active deals open to investment there are still a number of opportunities coming to the market. Egypt’s 2,000MW solar feed in tariff (FIT) programme has a number of projects that are set for financial close towards the end of October 2017 which are not yet included in the data as their financing specifics are not yet public.

Those projects – around 790MW worth of capacity – will have a significant effect on the total value of deals closed in 2017 if they are successfully financed.

Saudi Arabia also presents opportunities in the wind and solar industries, having begun shortlisting for its 300MW Sakaka and 400MW Midyan solar and wind projects, respectively, in April this year.

The total value of financial close deals on solar projects in the region looks as though it will be healthy in 2017, with $1.2 billion reaching financial close so far in the year to date – in large part bolstered by the 1,117MW Sweihan solar project reaching financial close in late May.

The total value of closed solar deals for the year should be further boosted by Masdar’s 800MW solar project in Dubai, which is in the final stages of reaching close this week, sources said.