Energy Diversification Necessary to Meet Saudi Consumption Growth

Energy Diversification Necessary to Meet Saudi Consumption Growth

The National Center for Solar Energy Technology at King Abdulaziz University in Jeddah said that energy mix diversification was a must, as energy consumption growth is expected to reach 120 gigawatts.

The Saudi Vision has set an initial target of 50 percent of renewable energy by 2030, which makes the diversification of the energy mix a necessary choice for the Kingdom, the center underlined.

In an interview with Asharq Al-Awsat, director of the Center Dr. Hussam Qasim said that the Kingdom plans to invest an estimated $50 billion in renewable energy over the next five years. He added that this investment would hopefully achieve the target of 28 GW of renewable capacity, which will increase to 59 GW in 2030.

“The diversification of the energy mix is vital and necessary, given the growth rate of energy consumption in the last decade, which increased by 60 percent,” Qasim stated.

He said consumption was expected to increase from 63 GW in 2019 to 120 GW in 2030.

On Saudi Arabia's attention to the energy mix issue, Qasim said: “The Public Investment Fund (PIF) invested in giant global renewable energy companies. One of the