Saudi Arabia Sets Sights on Building Five Renewable Energy Projects

The Kingdom of Saudi Arabia is building five new projects for the production of renewable electricity. As per reports, the total capacity of the combined five RE projects will be 3,300 MW.

The Saudi Power Procurement Company (SPPC) had announced recently that solar and wind sources will be employed to generate electricity. The company has launched the projects and it’s also the principal buyer of the electricity.

Saudi Arabia is implementing the National Renewable Energy Program through its Energy Ministry and the newly launched five renewable energy projects are a part of the fourth phase of the program.

The Saudi authorities are yet to disclose the financial details of the projects. Today, Saudi Arabia is producing about 1,800 MW of wind energy – 700 MW in Yanbu, 600 MW in Al-Ghat and 500 MW in Waad Al-Shamal.

Likewise, the solar energy capacity of the present projects is about 1,500 MW –  Al-Henakiyah has 1,100 MW and Tubarjal has 400 MW.

The Kingdom targets to reach the best energy mix to produce electricity from renewable energy resources and using gas with 50 per cent for each of them and replace the fuel used to produce electricity by 2030.

Saudi Arabia is bullish for investments in the renewable and clean energy sector and its also maintaining focus on the hydrocarbons industry to maintain a balance for the domestic economy and ensuring global energy security.

In 2021, Crown Prince Mohammed bin Salman launched an initiative for a zero-carbon city termed ‘The Line’ which will be located in the Neom area in North-West Saudi Arabia. The project is expected to be completed by 2025. In ‘The Line’ there will be vertically layered homes, offices, public parks and schools developed in a mirrored facade that stretches more than 170 km.

The Line is planned to be completed by 2025 and will be located in the Neom area being built in Tabuk Province in northwestern Saudi Arabia.

In July, the Kingdom was mulling to double the renewable energy tenders in 2022 and give a fillip to the clean electricity availability. It said that projects worth 7.1 GW have been tendered and are in different stages of completion.

Fitch Solutions has reported that the solar power capacity alone of Saudi Arabia might grow to more than 5.1 GW between 2022 and 2031.