Minister of Energy Prince Abdulaziz bin Salman announced Saudi Arabia’s ambitious goal of adding 20 gigawatts of renewable energy annually, targeting a total of 130 gigawatts before 2030.
Addressing the Saudi Smart Grid Conference 2023 in Riyadh, the minister emphasized the Kingdom’s readiness to export up to 150 gigawatts of green electricity or hydrogen.
With over 80 initiatives and investments exceeding SR705 billion ($188 billion), Saudi Arabia is committed to building a more sustainable future and reducing carbon emissions by 278 million tons annually by 2030.
The Kingdom aims for a balanced energy mix, targeting 50 per cent natural gas and 50 per cent renewable energy for electricity production by 2030, contributing to the replacement of up to one million barrels of equivalent liquid fuel.
Prince Abdulaziz highlighted the significant progress in renewable energy, with the Kingdom doubling its capacity to over 2.2 gigawatts and plans to tender around 20 gigawatts in 2024, positioning itself as a key source of green hydrogen.
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