According to the energy minister of Saudi Arabia, the spending on power and renewable energy projects is likely to hit SR1.1 trillion ($293 billion) by 2030.
The highest spending will be on power transmission projects with SR430 billion. Prince Abdulaziz said that Saudi Arabia plans to invest SR380 billion in RE projects and SR142 billion in energy distribution by 2030.
The country is also working on the world’s largest floating industrial complex with 100% renewable energy. OXAGON will establish the world’s first fully-integrated port and supply chain ecosystem for NEOM.
Also, ACCIONA will undertake the construction of the Jubail 3B desalination plant together with its partner SEPCOIII. Its capacity of 570,000 m3/day will supply 2 million people in the cities of Riyadh and Qassim.