Saudi Arabia Plans to Generate 60GW of Renewable Energy by 2030
Saudi Arabia aims to increase its renewable energy production to 60 gigawatts, including 40 GW from solar energy and 20 from wind and other sources by 2030.
Asharq Al-Awsat learned that Riyadh is expected to come up with 12 projects in 2019 with a total capacity of up to 1.3 GW, while planning to complete the preliminary development of projects totaling 13 GW by the end of this year.
According to the proposed plan and renewable energy targets in Saudi Arabia, the Ministry of Energy and the Public Investment Fund (PIF) work together to localize renewable energy industry through priorities that include setting a competitive price for generating power, attracting private sector investments, and encouraging innovation through competition.
Other priorities include increasing the localization of renewable energy technologies, enhancing the domestic products in this sector, exporting its products and developing giant renewable energy projects.
Saudi Arabia wants to localize five major wind power components and three main components of solar energy in the short and medium term.
The projects are expected to be implemented by 2030 in more than 35 locations across the country, with the aim of promoting regional development and selecting the best technologies during the duration of the program, before all initial development studies are undertaken to enhance funding opportunities and accelerate implementation.
Saudi Arabia is working, under the framework of Vision 2030 and the National Transformation Program 2020 (NTP), on building a sustainable renewable energy sector, which includes relevant industries and services, the Saudization of technologies, and training human resources, to find a balanced mix of fossil and alternative energy.
The Kingdom has launched many national programs as part of the NTP 2020 with the aim of promoting the overall role of alternative energy.
The Ministry of Energy set a world record in Sakaka solar energy power plant project after applying all international criteria. It was awarded to ACWA Power.
Dumat al-Jandal onshore wind project, led by Abu Dhabi’s Masdar, also reached a world record in Europe and MENA region in 2018.