The Saudi Arabian government has announced plans to offer at least 12 renewable energy projects in 2019 as the kingdom ramps up its Vision 2030 programme to diversify its energy sector away from petrodollars.
Speaking in Abu Dhabi on 15 January, Saudi Arabia’s Minister of Energy, Industry, and Mineral Resources, Eng Khalid bin Abdulaziz Al-Falih, said the electricity sector in the kingdom will shift from an oil and gas-based system to a more diversified one – where gas and renewable energy-based generation capabilities will replace fluid-based generating capacities.
Renewable generation capacity, as reported by Saudi Press Agency (SPA), will reach “40 GW of solar photovoltaic energy, 16 GW of wind power, and 3 GW of concentrated solar power through significant investments in renewable energy sources by 2030”.
The minister reportedly outlined a number of objectives for renewable energy projects to achieve Vision 2030, noting the Saudi energy ministry plans to offer “at least 12 renewable energy projects in 2019”.
Al Falih was speaking at the opening session of the Abu Dhabi Sustainability Week 2019, which is being held in the UAE capital on 12-19 January.
As reported by SPA, the ministry and Saudi Arabia’s Public Investment Fund (PIF) are working together to attract international companies to the kingdom to "localise and manufacture renewable energy technologies to meet domestic demand and export surplus to international markets".
Speaking to UAE state news agency Wam, Dr Khalid bin Saleh Al Sultan, president of King Abdullah City for Atomic and Renewable Energy (KA Care), said Saudi Arabia’s investments in renewable energy would focus on Saudisation in the technology sector; human resources training; finding a “balanced mix of fossil and alternative energy”; and integrating alternative sources into the national energy network.
Al Sultan attended ninth General Assembly of International Renewable Energy Agency, part of Abu Dhabi Sustainability Week 2019.