The project will costs over $900 million and is expected to provide 70% of the country’s total renewable energy by 2030.
This is part of the the Kingdom’s Vision 2030 with their commitment to clean energy and sustainability as Saudi Arabia moves to tackling energy and climate challenges with innovative solutions such as the Circular Carbon Economy (CCE). Saudi Arabia vision is to achieve 50% of energy coming from renewable sources by 2030.
“Right now, we have 22.8 GW of renewable energy projects under different stages of development; 2.8 GW will be operational before the end of the year,” Muneef Al-Muneef, general director of renewable energy policies at the Saudi Ministry of Energy.
There are additional projects under construction for 4 GW, with an extra 8 GW entering the execution phase following the ministry’s signing of power purchase agreements for these projects.
Furthermore, Saudi Arabia is set to tender another 8 GW of renewable energy projects by 2023.
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