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Emerging Solar Market Kingdom of Saudi Arabia: Preparing Investors for Vision 2030 & Companies for 40 GW PV Target

28th October 2020 @ 6:00 pm - 8:00 pm IST

Virtual Event
The Middle East confirms the growth and importance of solar power in the region’s energy landscape. Leading countries of the region are steadily commissioning large projects and launching additional phases of their renewable energy and solar programs (KSA,Morocco, Egypt and the UAE) and other countries of the region are coming on board. Projects in the pipeline are now tendered in Oman,Kuwait, KSA, Tunisia and countries like Pakistan and Iraq are engaging their first large utility size projects.The value of solar projects that are currently operational in the region is estimated at $ 5 billion to $ 7.5 billion and the total value of projects expected to come online by 2024 at $15 billion to $ 20 billion. The total investment in renewables in MENA between 2019-2023 at 34% of the total investment in the power sector (USD 210 billion) which amounts to an estimated USD 71.4 billion
Saudi Arabia’s energy demand has been rising with consumption increasing by 60% in the last 10 years. The demand for electricity in 2019 is about 62.7 GW and is
forecast to increase by up to 120 GW in 2030, Based on vision 2030, the Kingdom of Saudi Arabia is aiming to reduce its dependency on oil revenues, diversifying its energy mix and developing its significant potential of renewable energy. A dedicated structure within the Ministry of Energy, the Renewable Energy Project Development Office (REPDO) was established. In 2018, the ambitions of Saudi Arabia’s National Renewable Energy Program (NREP) were substantially increased with a 5-year target of 27.3GW and a 12
years target of 58.7 GW, including 40 GW of PV and 2.7 GW of CSP. In total, the government is aiming investments in renewable energy up to $50 billion until 2023. The National Industrial Strategy strongly emphasized on the need to cooperate with the private sector that could lead into significant developments within the country. A stronger dialogue between the public and private sector is anticipated to speed up the expansion of the solar market. Ultimately, with the development of framework, regulation
and business models, the C&I sector will offer significant opportunities for increased distribution generation projects.
So, As the largest energy market in the GCC region, Saudi Arabia offers opportunities to develop solar solutions that can serve as a reference for other Middle Eastern markets. Regionally integrated in the GCC, the country accounts for about 50% of the region’s total energy consumption.The opportunities in Saudi Arabia are real and are driven primarily by the opportunity cost of domestically burning natural resources rather than exporting them, as well as by a desire to diversify its heavily hydrocarbon-dependent economy.
In this event we discuss the best strategies for partnership and the companies that are best positioned to capitalize on the massive potential market in KSA. In conjunction with our partners, we’re bringing you an opportunity to learn & e meet more than 100+ solar leaders across a series of live presentations, and live panel debates to discuss the future of KSA Solar Market. The real key for success in a complicated and relationship-driven market will be the right partners and the right strategy.


28th October 2020
6:00 pm - 8:00 pm IST
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Ajaz Shaikh