Saudi Renewable Energy anticipates launching projects with a capacity of up to 20 gigawatts by 2024 are part of its energy diversification efforts.
This announcement comes after Saudi Arabia has increased its renewable energy production at an astounding rate, with output doubling from 700 megawatts to 2.8 gigatonnes so far.
Saudi Renewable Energy Projects’ Number
In a recorded speech given on the eve of the Saudi Green Initiative Forum’s opening in conjunction with the COP28 climate summit in Dubai, Saudi Energy Minister Abdulaziz bin Salman disclosed that the Kingdom is currently developing renewable energy projects with capacities greater than 8 gigawatts. In addition to projects totalling roughly 13 gigawatts that are in various phases of development.
According to the minister, Saudi Arabia plans to issue a fresh call for bids to build four extremely productive gas-fired power plants with a combined 7 gigawatts of output.
This action is a component of a larger plan of actions and regulations meant to realise the long-term objectives of the “Saudi Green Initiative.”
Clean Energy Initiatives’ Advantages for KSA
With a better balance between renewable and conventional energy, the Kingdom’s reliance on renewable energy anticipates to increase as a result of these projects, which will help the nation achieve sustainable development and lower carbon emissions.
The Green Saudi Initiative is another initiative that the Kingdom of Saudi Arabia is launching to put $266 billion into clean energy generation and cut carbon emissions by about 278 billion tonnes annually by 2030.
The Saudi Crown Prince Mohammed bin Salman served as the initiative’s guardian when it was first introduced in 2021.
To utilise renewable energy sources and do away with the burning of one million barrels of liquid fuel, the Kingdom has made significant progress in putting the liquid fuel displacement programme into practice in the electricity production sector.
There will be four 5.6 GW gas power plants in operation, and an additional 8.4 GW plants with carbon capture capacity will be constructed.
Geographic Survey Project’s Significance
Furthermore, one of the few national-level initiatives with this kind of scope and number of measuring stations—more than 1,200—is the national geographic survey that the Kingdom plans to begin next year.
Additionally, the Kingdom is working to build two industrial carbon capture and storage hubs with a capacity of 44 million tonnes and one million tonnes yearly, respectively, in the eastern and western regions.
Being a major global exporter of clean, green hydrogen is another of the Kingdom’s objectives, since NEOM is putting into practice a sustainable green hydrogen project that generates 1.2 million tonnes of green ammonia annually.