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Solar Power Project Plan 2030, Greatest Energy Source Worldwide by 2050

A 2012 file picture shows a Saudi man walking past solar panels at the King Abdulaziz City for Science and Technology, Al-Oyeynah Research Station. (Reuters)
A 2012 file picture shows a Saudi man walking past solar panels at the King Abdulaziz City for Science and Technology, Al-Oyeynah Research Station. (Reuters)
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Solar Power Project Plan 2030, Greatest Energy Source Worldwide by 2050

A 2012 file picture shows a Saudi man walking past solar panels at the King Abdulaziz City for Science and Technology, Al-Oyeynah Research Station. (Reuters)
A 2012 file picture shows a Saudi man walking past solar panels at the King Abdulaziz City for Science and Technology, Al-Oyeynah Research Station. (Reuters)

The launching of Solar Power Project Plan 2030 grabbed the attention of a number of energy experts in the world, especially after the kingdom’s announcement that it intends to produce 200 gigawatt of solar energy by 2030.

The purposes of this project goes in tandem with the forecasts of the International Renewable Energy Agency that solar energy will be the greatest energy source worldwide by 2050.

This Solar Power Project Plan 2030 is considered one of the ambitious steps of Crown Prince Mohammed bin Salman towards the implementation of the Saudi Vision 2030, which affirmed that it would put a legal and organizational framework that allows the private sector to invest and possess in renewable energy sector, as well as urge partnerships between the private and public sector.

This global project would contribute to increasing electricity generated from solar energy, opening new economic and investment channels in the kingdom in addition to providing job opportunities, training and investment in individuals and firms.

Dr. Turki bin Saud bin Mohammed, Vice President of King Abdulaziz City for Science and Technology (KACST) for Research Institutes, commended the efforts of the crown prince in signing a memorandum of understanding to establish the Solar Power Project Plan 2030 as a first step to produce around 200 gigawatt in 2030.

The country’s need of energy is now equal to 75 gigawatt, and the project will enable the kingdom to export the surplus, he added, saying that the kingdom enjoys huge spaces that can be invested to construct enormous power plants.

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UK Treasury Chief Heading to China to Revive Suspended Economic, Financial Talks

FILE PHOTO: Chancellor Rachel Reeves speaks to the media after a tour of Maidstone Hospital on December 10, 2024 in Maidstone, Britain. Dan Kitwood/Pool via REUTERS/File Photo
FILE PHOTO: Chancellor Rachel Reeves speaks to the media after a tour of Maidstone Hospital on December 10, 2024 in Maidstone, Britain. Dan Kitwood/Pool via REUTERS/File Photo
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UK Treasury Chief Heading to China to Revive Suspended Economic, Financial Talks

FILE PHOTO: Chancellor Rachel Reeves speaks to the media after a tour of Maidstone Hospital on December 10, 2024 in Maidstone, Britain. Dan Kitwood/Pool via REUTERS/File Photo
FILE PHOTO: Chancellor Rachel Reeves speaks to the media after a tour of Maidstone Hospital on December 10, 2024 in Maidstone, Britain. Dan Kitwood/Pool via REUTERS/File Photo

Britain's Treasury chief is travelling to China this weekend to discuss economic and financial cooperation between the countries, as the UK's Labour government seeks to reset strained ties with Beijing.
The Treasury said Friday that Rachel Reeves will travel to Beijing and Shanghai and will meet with her Chinese government counterpart, Vice Premier He Lifeng, Reuters reported.
Reeves' trip is expected to revive the China-UK Economic and Financial Dialogue — annual bilateral talks that have been suspended since 2019 due to the COVID-19 pandemic and deteriorating relations in recent years.
A series of spying allegations from both sides, China’s support for Russia in the Ukraine war and a crackdown on civil liberties in Hong Kong, a former British colony, have soured ties.
Bank of England Governor Andrew Bailey and the UK Financial Conduct Authority's chief executive, Nikhil Rathi, are also in the delegation, according to the Treasury. Representatives from some of Britain’s biggest financial services firms will join the trip.
Officials did not provide details, but media reports have said senior executives from HSBC Holdings and Standard Chartered were included.
Reeves' visit comes after Foreign Secretary David Lammy travelled to China in October and Prime Minister Keir Starmer met with Chinese President Xi Jinping on the sidelines of the G20 summit in Brazil in November.
The meetings form part of a bid by Starmer, who was elected as leader in July, to strengthen political and economic ties with China, the UK's fifth-largest trading partner.
Officials said Starmer wanted a “pragmatic” approach to working with Beijing on global stability, climate change and the transition to clean energy.
But some in the opposition Conservative Party have criticized his stance and said trade ties should not come at the expense of national security and human rights concerns.
British political leaders and intelligence chiefs have warned repeatedly of the security threats that China poses. Calls to tackle the challenge grew louder last month when it emerged that an alleged Chinese spy had cultivated close ties with Prince Andrew and carried out “covert and deceptive activity” for China's ruling Communist Party, according to officials.
Nevertheless, Lammy told reporters in London on Thursday that “there are many areas of trade that don’t impact on national security.”
He said Reeves “will repeat many of the messages that I took to China.”
“What we’ve said is in this complex relationship with a global superpower, we are guided by three Cs”: challenge, compete and cooperate, for example in areas including health and climate challenges, Lammy added.