Energy minister: Saudi Arabia targets 130 gigawatts of renewable energy by 2030

Energy minister: Saudi Arabia targets 130 gigawatts of renewable energy by 2030

Saudi Gazette reportRIYADH — Minister of Energy Prince Abdulaziz bin Salman said that Saudi Arabia aims to add 20 gigawatts of renewable energy annually to reach 130 gigawatts of renewable energy before 2030.In his opening speech at the Saudi Smart Grid Conference 2023 in Riyadh on Tuesday, the minister said that Saudi Arabia is ready to export up to 150 gigawatts of green electricity or hydrogen. Prince Abdulaziz said that the Kingdom is implementing more than 80 initiatives in the public and private sectors with investments worth more than SR705 billion ($188 billion) to build a more sustainable future for all.The Kingdom is moving steadily towards achieving its goal of reducing carbon emissions by 278 million tons annually by 2030. The Kingdom aims to reach the optimal energy mix for electricity production of approximately 50 percent natural gas and 50 percent renewable energy by 2030, which will contribute to replacing up to one million barrels of equivalent liquid fuel currently used.The minister said earlier that Saudi Arabia has more than doubled its renewable energy production capacity from 700 MW last year to over 2.2 GW, with more than 8 GW and 13 GW of renewable energy under development. It also