The President of King Abdullah City for Atomic and Renewable Energy Khaled Al-Sultan asserted that the Kingdom is working to build a sustainable renewable energy sector that includes industries, services, localization of technologies, and the qualification of human cadres by defining the main frameworks for building the sector.
“The Ministry of Energy in the Kingdom approved policies that stimulate the participation of the private sector in this field, and to update the regulations for renewable energy projects to achieve the goals of the National Renewable Energy Program, in line with the Kingdom’s Vision 2030, and under the direct and continuous supervision of the Minister of Energy, Prince Abdulaziz bin Salman,” Al-Sultan said.
He added that the ministry will depend on the unified center for the Kingdom’s capabilities in energy research and measurement, data collection, organization and development, and tenders related to renewable energy, in cooperation with all relevant authorities in the energy sector in the Kingdom.
Al-Sultan indicated that the Kingdom aims to adopt 50% of electricity production by 2030 on renewable energy, while the remaining percentage will depend on gas. This came in the Kingdom’s speech delivered by the President of the King Abdullah City for Atomic and Renewable Energy, head of the Kingdom’s delegation participating in the work of the 11th General Assembly of the International Renewable Energy Agency (IRENA) on the occasion of the opening of the current session. He expressed the Kingdom’s appreciation to the International Renewable Energy Agency for its actions. Efforts have been made to achieve the Kingdom’s goals towards promoting the use of renewable energy at the global and regional levels.
The Sultan congratulated the Kingdom of Spain on assuming the presidency of the current session of the Agency’s General Assembly, and its deputies to the Republic of Albania, the Republic of Costa Rica, the Republic of Ghana and the Republic of India, welcoming the countries that finally joined the agency. He stressed the importance of concerted efforts in light of the exceptional circumstances during the pandemic of the new coronavirus that the world faced and praising everyone’s solidarity and cooperation in facing global challenges and crises, in order to overcome them and move forward towards building a prosperous future for the world.
The Sultan pointed out that the Kingdom launched several projects and initiatives in this context, including the green hydrogen production project in NEOM, and Saudi Arabia’s SABIC and Aramco projects to capture, store and use carbon in the manufacture of various products such as blue ammonia, which was approved by the leaders of the G20 countries. It represents a comprehensive, integrated and realistic approach to managing emissions that contribute to preventing global warming and other projects. There are many initiatives that aim to enable new technologies in the field of renewable energy, increase local content in industrial and service value chains, localize technical know-how and invest them commercially to qualify the necessary human capital.
The Kingdom is planning to stimulate the private sector and interested investors in this field to invest in the renewable energy sector, in line with the Kingdom’s Vision 2030, which had the support of the Custodian of the Two Holy Mosques and the Crown Prince. It also aims to create a local competitive market for renewable energy and develop a clear methodology to ensure the competitiveness of renewable energy.
There are many renewable energy initiatives in the kingdom such as the green hydrogen production project in NEOM, projects by SABIC and Saudi Aramco for carbon capture, enabling new technologies in the field of renewable energy, increasing local content in industrial and service value chains and localizing technical know-how, investing it commercially, and qualifying the necessary human capital.