Powering Future Toward Net Zero: How Saudi Arabia Advances Energy Transition
Under the patronage of the Governor of the Eastern Province, Prince Saud bin Naif bin Abdulaziz, Saudi Arabia hosts the “Powering the Future Toward Net Zero” international forum to enhance energy transition efforts.
The event, organized by the Gulf Cooperation Council Interconnection Authority (GCCIA) in collaboration with the Electric Power Research Institute (EPRI), GO15, and Med-TSO in Al Khobar, is taking place in Dammam on October 27-28, 2024, reported the Saudi Press Agency (SPA).
The international forum marks another step towards promoting energy transition, achieving carbon neutrality and enhancing sustainable energy practices. This aligns with Saudi Arabia’s efforts to achieve net zero and support green transformation and sustainable development as part of its ambitious Vision 2030.
Advancing Energy Transition
Building on the success of the previous Energy Storage Forums held in 2022 and 2023, the “Powering the Future Toward Net Zero” aims to act as a platform for fostering discussions and collaboration on the future of the energy sector. It focuses on key areas, including Technology, Markets, Interconnections, Storage and Resource Adequacy for a Net-Zero Grid.
To this end, the two-day event focuses on discussing the energy sector’s strategy to realize the goal of achieving net zero emissions and advance decarbonization efforts by means of global collaboration and innovation.
The forum brings together top executives from the GO15, representing grid operators accounting for nearly 80% of global electricity demand and 21% of global renewable energy production, in addition to leaders and experts from the Med-TSO and the global energy sector.
Enhancing Regional Grid
The Powering the Future Toward Net Zero forum aims to highlight the importance of enhancing the regional grid. On this occasion, the CEO of GCCIA, Eng. Ahmed Al Ebrahim, said that the discussions will be centered around strengthening the regional grid to pave the way for a reliable, affordable and net zero future. Moreover, they will highlight the role of a strong regional grid infrastructure in achieving net-zero emissions targets.
Discussions will also showcase grid improvement technologies, explore modern technologies, advanced planning, and operational capabilities required to improve grid resilience, affordability, and market shifts essential for supporting energy transition.
The forum also aims to highlight emerging technologies in artificial intelligence (AI), grid operations, and planning. Al Ebrahim added that CEOs, advisors and government representatives from the GCC, North America, Europe and Asia will share their perspectives for a comprehensive exploration of strategies.
Promoting Grid Interconnection
The GCCIA plays a pivotal role in interconnecting the power grids in the GCC countries. It ensures the reliability, efficiency, and security of power supply across Saudi Arabia, the UAE, Bahrain, Kuwait, Oman and Qatar. The interconnection of these countries’ power grids has facilitated seamless electricity trade and shared resources. This, in turn, fostered economic benefits and grid stability across the region.
Furthermore, the interconnection of the GCC countries’ infrastructure establishes their position at the forefront of energy transition, providing the flexibility and efficiency necessary for supporting a future net-zero grid.
In the light of this, Al Ebrahim stressed the GCCIA’s commitment to promoting regional and global energy collaboration. “At GCCIA, we are dedicated to enabling the Gulf region’s energy transition through stronger interconnections, efficient power trading, and regional cooperation,” he said.
He emphasized the significance of the “Powering the Future Toward Net Zero” forum in fostering dialogue. He said: “This forum represents a vital opportunity to unite global thought leaders and decision-makers in shaping the energy strategies of tomorrow. Our work towards a resilient and sustainable energy future continues to be at the heart of what we do, and we look forward to engaging with key stakeholders to drive the transformation needed to achieve net-zero targets.”
Saudi Arabia’s Energy Transition Efforts
Under Vision 2030, which aims to diversify the economy and reduce reliance on oil revenues, Saudi Arabia is putting increased emphasis on enhancing renewable energy resources and implementing sustainability programs in various sectors to achieve net zero emissions.
For this purpose, the Kingdom has set the target of securing 50% of its electricity from renewable energy sources by 2030. It has made huge investments in renewable energy projects, including solar, wind and hydropower projects. It has also fostered partnerships and investments to develop green and blue hydrogen production projects.
Furthermore, Saudi Arabia has launched numerous initiatives to support green transformation and sustainable development. The most prominent of these initiatives is the Saudi Green Initiative (SGI), which focuses on 3 main targets: help Saudi Arabia achieve net-zero emissions by 2060, support its green transformation, and protect land and sea.
In addition, Saudi Arabia has launched the Middle East Green Initiative, which focuses on addressing climate change through strengthening regional cooperation. The initiative aims to achieve two main goals: increase tree planting and reduce carbon emissions in the region.