In Short : Saudi Arabia reveals a remarkable 300% surge in renewable energy capacity, signaling a substantial commitment to diversify its energy mix and embrace sustainable practices. This announcement reflects the nation’s ambitious strides toward a more environmentally friendly and resilient energy infrastructure.
In Detail : The Kingdom aims to achieve an optimal energy mix for electricity production by having gas and renewable energy at approximately 50% each by 2030.
Saudi Arabia is on track to achieve its goal of reducing carbon emissions by 278 million tonnes per annum (mtpa) by 2030.
The Kingdom aims to achieve an optimal energy mix for electricity production by having gas and renewable energy at approximately 50% each by 2030.
When achieved, this will displace approximately 1 million barrels of liquid fuel currently used.
Since 2022, an additional 2,100 MW of renewable energy has been connected to the grid, bringing the total capacity of installed renewable energy to 2,800 MW (2.8 GW), generating energy equivalent to powering over 520,000 homes.
This marks a 300% increase in installed capacity, demonstrating the pace at which Saudi Arabia is accelerating its energy transition.
By the end of 2023, the production capacity of renewable energy projects under construction in Saudi Arabia will exceed 8 GW, with an additional 13 GW of renewable energy capacity in various stages of development across multiple projects.
This was revealed at the third edition of the Saudi Green Initiative (SGI) Forum that took place on Monday in conjunction with COP28, providing a multi-stakeholder platform for dialogue to advance climate action.
The Saudi Green Initiative was launched by Crown Prince and Prime Minister Mohammed bin Salman, who’s also the Chairman of the Higher Committee for the Saudi Green Initiative in 2021.
It is a whole-of-society initiative to oversee and unite the Kingdom’s efforts to combat climate change, drive sustainable innovation and accelerate the green transition.