Register with us today

and in less than 60 seconds continue your access to:Latest news headlinesAnalytical topics and featuresCommodities videos, podcast & blogsSample market prices & dataSpecial reportsSubscriber notes & daily commodity email alerts

Already have an account?

Log in to register

Forgot Password

In this list
Coal | Electric Power | Natural Gas

Saudi Arabia expects more than $20 bil investment in renewables over a decade: official

Biofuels | Renewables | LNG | Natural Gas | Oil | Petrochemicals | Marine Fuels | Tankers | Crude Oil | Refined Products | Bunker Fuel | Gasoline | Jet Fuel

APPEC 2020

Electric Power

Platts Forward Curves – Gas and Power

Electric Power | Renewables | LNG | Infrastructure Utilities

Caribbean Energy Conference, 21st

Natural Gas

European gas demand loses lockdown support, but remains robust

Electric Power | Renewables | LNG | Natural Gas

Fuel for Thought: For green hydrogen to catch up with blue, it's a long ride in India

Saudi Arabia expects more than $20 bil investment in renewables over a decade: official

Highlights

Country planning 30 GW from renewables by 2025

Expects near record low solar prices for current tenders

Country launched 3rd renewables round in January

Dubai — Saudi Arabia expects to attract more than $20 billion in investments in renewables over the next decade, the CEO of Saudi National Grid said Oct. 19, as the world's biggest oil exporter seeks to free up oil burned in power generation for export.

Not registered?

Receive daily email alerts, subscriber notes & personalize your experience.

Register Now

The kingdom is aiming to generate 30 GW from renewables by 2025 and 60 GW by 2030, Ibrahim al-Jarbou told the Siemens Energy Week virtual conference.

The Gulf state also expects to attract near record low prices for its renewables projects, he said.

"There is a tender going for some projects and we are expecting these numbers to be very low cost," he said.

The Saudi ministry of energy in January launched round three of its National Renewable Energy Program (NREP). The round comprises four solar projects with a total combined capacity of 1.2 GW.

Renewable capacity

In April, the ministry said 49 companies had pre-qualified to bid in the third round, 28 of which were from Saudi Arabia.

The ministry of energy, through the NREP, has pre-developed and tendered 2.17 GW of renewable energy capacity, of which 700 MW was awarded in 2019 and a further 1.47 GW to be awarded in 2020.

Saudi Arabia is investing in renewable energy to free up oil burned in power generation for export and lower its CO2 emissions.

The kingdom plans to produce 70% of its power from gas and 30% from renewable energy, Energy Minister Prince Abdulaziz has previously said. Currently the country burns mostly oil to produce power.

Saudi Arabia's local energy reforms will reduce domestic consumption by 2 million b/d of oil equivalent by 2030, the minister said in October.