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For achieving the target to produce 50% of energy from renewables, the Saudi Ministry of Energy with a total area of 12 million square meters is constructing 2 renewable energy plants on two land plots.
The plants will be implemented in the Industrial City in Rabigh and the Third Industrial City in Jeddah, through the Saudi Authority for Industrial Cities and Technology Zones MODON. It will have the capacity of 600 MW.
Diversification of energy mix for generating electricity is necessary and The Ministry of Energy is working on it. For this, investment is rising in the share of renewable energy sources and gas while displacing liquid fuel and replacing it with natural gas.
“The National Renewable Energy Program constitutes one of the main enablers to achieve the optimal energy mix and strategic objectives for the electricity sector, by creating a competitive environment that attracts private sector investments, encouraging partnerships between the public and private sectors,” the ministry said.
The program also comprise of promoting new industry establishment and renewable energy projects for these energy technologies.
Recent project led by developer ACWA Power has reached financial closure for the 1,500-megawatt Sudair solar plant, which is pegged to be the world’s largest single-contracted solar photovoltaic plant.
It will be located in Sudair Industrial City in Saudi Arabia’s north. The developer also announced that Aramco-owned SAPCO has joined the consortium, marking the oil giant’s first participation in the Saudi Public Investment Fund’s renewable energy program.