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Saudi Arabia to launch 12 renewable energy projects in 2019
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Saudi Minister of Energy, Industry and Mineral Resources, Khalid bin Abdulaziz Al-Falih, said that his country will launch 12 renewable energy projects during the year 2019 as part of the Kingdom's tendency to reduce the dependence on oil for electricity generation. .
"For the vision of Saudi Arabia 2030, the Ministry of Energy has set a set of targets for renewable energy projects," he said. "In 2019, the Office of Renewable Energy Projects Development will offer at least 12 renewable energy projects," according to the official SPA news agency.
Speaking at the inaugural session of the Abu Dhabi Sustainability Week, Al Faleh made the remarks during a meeting in which he discussed the importance of developing a realistic global energy transformation strategy to achieve economic and environmental goals without compromising global energy security by improving the carbon performance of conventional energy, And advanced technologies of economic feasibility and widely spread worldwide, to achieve the aspirations of developed countries taking into account the economic challenges faced by developing countries.
"The electricity sector in the Kingdom will be transformed from an oil and gas-based system into a more diversified one, so that the generation capacity of gas-based and renewable energy will replace fluid-based generating capacities," he said.
He explained that renewable power generation capacity in Saudi Arabia will reach 40 GW of photovoltaic solar energy, 16 GW of wind power and 3 GW of concentrated solar energy through significant investments in renewable energy sources by 2030.
Al-Falih pointed out that the Saudi Ministry of Energy and the Public Investment Fund are working together to attract international companies to the Kingdom to localize and manufacture renewable energy technologies to meet domestic demand and export surplus to international markets, as well as seeking to produce more than 200 GW through renewable energy technologies. It is manufactured in the Kingdom by 2030.
"This will be achieved through the provision of 30 per cent of renewable energy targets in Saudi Arabia, in tenders announced by the Renewable Energy Projects Development Office, while the remaining 70 per cent will be developed by the Public Investment Fund and its selected partners."
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