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Saudi Arabia Speeds Up Pace to Activate Small-Scale Solar PV Systems

Saudi Arabia begins using small-scale solar PV systems to generate electricity. (Asharq Al-Awsat)
Saudi Arabia begins using small-scale solar PV systems to generate electricity. (Asharq Al-Awsat)
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Saudi Arabia Speeds Up Pace to Activate Small-Scale Solar PV Systems

Saudi Arabia begins using small-scale solar PV systems to generate electricity. (Asharq Al-Awsat)
Saudi Arabia begins using small-scale solar PV systems to generate electricity. (Asharq Al-Awsat)

Saudi Arabia has been speeding up the pace to activate the recently approved small-scale solar photovoltaic (PV) systems.

It has provided the necessary legislation to achieve all options and bolster opportunities for building local content for the components needed for the local solar energy production.

King Abdullah City for Atomic and Renewable Energy (KACARE) announced Thursday launching training programs over installation process of small-scale solar PV systems in the kingdom.

Four training centers have been authorized to offer the five-day training program, it said.

The accredited institutes are in Yanbu, Dammam, Riyadh, and Juaima’h and Baish.

Individuals wishing to obtain certificates to work in the field of designing or installing small-scale solar PV systems must attend an at least five-day training program at one of the centers.

Afterwards, they apply for the final test at the distribution service provider to obtain the qualification certificate in case they pass the training period.

The training certification program aims to ensure that the solar PV systems that are connected to the kingdom’s grid are designed and equipped by trained professionals with required competencies.

This serves several purposes and helps ensure the achievement of high levels of safety and security, adherence to the required technical standards, high quality of design and installation for clients and protection of the distribution system.

Earlier this week, the Saudi Ministry of Energy announced that the small-scale solar PV systems are ready to generate electricity for houses and enterprises, to be later connected to the kingdom’s grid.

It also announced providing consumers with an easy-to-use e-calculator that helps in analyzing the financial and technical aspects of the estimated installation cost, as well as various other support services.

The project participants are the Ministry of Energy, the Electricity Cogeneration Regulatory Authority (ECRA), Ministry of Municipality and Rural Affairs (MoMRA), Ministry of Housing, Ministry of Commerce and Investment (MOCI), KACARE and Saudi Standards, Metrology and Quality Organization (SASO).

Meanwhile, ECRA announced the launch of the “Shamsi” portal for the PV system.

The new portal informs consumers of the economic feasibility and estimated costs of installing a solar energy system in a home or business before connecting it to the public electrical network, ECRA said in a statement.

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Saudi Arabia Emerges as Global Hub for Billion-Dollar Startups

A glimpse of Fintech 24 conference in Riyadh (SPA) 
A glimpse of Fintech 24 conference in Riyadh (SPA) 
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Saudi Arabia Emerges as Global Hub for Billion-Dollar Startups

A glimpse of Fintech 24 conference in Riyadh (SPA) 
A glimpse of Fintech 24 conference in Riyadh (SPA) 

Saudi Arabia is rapidly establishing itself as a global center for billion-dollar startups, known as “unicorns,” by cultivating an innovation-driven environment. These high-growth companies - private ventures valued at over $1 billion - have become a symbol of success in the world of entrepreneurship.

The rise of unicorns in the Kingdom reflects a combination of supportive regulations, government backing, and strong investor appetite. Sectors such as artificial intelligence, fintech, e-commerce, and logistics are at the forefront of this transformation.

Among the most notable Saudi success stories are STC Pay, Tabby, Tamara, and the fast-growing delivery firm Ninja. STC Pay became the first fintech company licensed by the Saudi Central Bank and now leads the digital wallet market in the Middle East and North Africa. Tabby, also licensed by the central bank, offers buy-now-pay-later services and has earned both Sharia compliance and global security certifications.

Tamara, founded in Riyadh in 2020, joined the unicorn club in late 2023. The company provides deferred payment solutions and has expanded across the Gulf region. Most recently, Ninja secured $250 million in funding led by Riyad Capital, valuing the three-year-old startup at $1.5 billion. An initial public offering is targeted by 2027, according to Bloomberg.

Investment in Saudi startups has surged, with nearly $400 million raised in the first quarter of this year alone, data firm Magnitt reported.

Silvina Moschini, co-founder of Unicoin and CEO of Unicorn Hunters, described Vision 2030 as a decisive turning point.

“It opened markets, diversified the economy beyond oil, and placed entrepreneurship at the heart of Saudi growth,” she told Asharq Al-Awsat.

She emphasized that government investments in digital infrastructure and the Public Investment Fund have created fertile ground for ambitious ideas to scale.

“Investors are drawn to fast-growing markets with strong state support, and Saudi Arabia offers exactly that,” she said.

While fintech and e-commerce have led the way, Moschini noted that the next wave of growth will likely come from artificial intelligence, cybersecurity, clean energy, digital health, and creative industries such as gaming and media - sectors closely aligned with Vision 2030 priorities.

She stressed that reaching unicorn status is only the beginning. “The real challenge is sustaining growth and competing globally,” she noted, underscoring the importance of international partnerships and regional expansion.