Well-known for its colossal oil reserves and petroleum-based economy, nowadays Saudi Arabia still generates 99% of its power from fossil fuels, however, the Kingdom is ambitious in its clean energy revolution.
The government aims to invest a total of SR380bn (US$101bn) in a bid to raise renewable energy to 50% of power generating capacity (about 58.7 GW) by 2030. We expect investment in clean energy projects to rise, assisted by high oil prices in 2023 24, as Saudi Arabia seeks to add 15 GW of renewable energy capacity in 2022-23, supporting the government’s climate objectives and economic diversification strategy.
In this context, the Saudi Arabia Clean Energy Week 2024 will be held in Riyadh on Feb. 28th-29th, the event will focus on the solar power & green hydrogen sector, it is expected over 500 participants will join the event and share the latest industry development and discuss the green energy projects in KSA & MENA region.
