Saudi Arabia aims to generate 50 percent of its electricity by using renewable energy by 2030, while the remaining percentage will depend on gas, said Dr. Khalid Bin Saleh Al-Sultan, Chairman of King Abdullah City for Atomic and Renewable Energy (KACARE), on Tuesday.
He made the remarks in a speech he delivered representing Saudi Arabia at the 11th session of the General Assembly of the International Renewable Energy Agency (IRENA).
Dr. Khalid expressed the Kingdom’s appreciation for the IRENA for its efforts to achieve its goals toward promoting the use of renewable energy at the global and regional level.
The KACARE chief also said that Saudi Arabia is working to build a sustainable renewable energy sector that includes industries, services, localization of technologies, and qualification of human cadres by defining main frameworks for building the sector.
He also said that the Saudi Ministry of Energy approved policies that stimulate the participation of the private sector in this field, in addition to updating regulations for renewable energy projects to achieve the goals of the National Renewable Energy Program (NREP), in line with the Kingdom’s Vision 2030, and under the direct and continuous supervision of Energy Minister Prince Abdulaziz Bin Salman.
This will make the energy organization a unified center for the Kingdom’s capabilities in energy research, measurement, and data collection, organization, and development, in addition to offering tenders related to renewable energy, in cooperation among all relevant authorities in the energy sector in the Kingdom, according to the KACARE chief.
He stressed the importance of concerted efforts in light of exceptional circumstances during the COVID-19 pandemic. He praised everyone’s solidarity and cooperation in facing global challenges and crises, and moving forward towards building a prosperous future for the world.
Dr. Khalid pointed out that Saudi Arabia has launched several projects and initiatives in this context, including the green hydrogen project in NEOM, and the projects of SABIC and Saudi Aramco to store and use carbon in manufacturing various products such as blue ammonia, which was approved by the leaders of the G20 countries and represents a comprehensive approach and integrated realistic management of emissions that contribute to preventing global warming.
The projects and initiatives also include enabling new technologies in the field of renewable energy, increasing the local content in industrial and service value chains and qualifying the necessary human capital, said the KACARE chief.
He noted that Saudi Arabia began planning to stimulate the private sector and interested investors in this field to invest in the renewable energy sector in addition to the Kingdom’s commitment to creating a local competitive market for renewable energy with a clear methodology to ensure the competitiveness of renewable energy, in line with the Kingdom’s Vision 2030, supported by Custodian of the Two Holy Mosques King Salman and Crown Prince Muhammad Bin Salman.
