Saudi Arabia Announces Renewable Energy Projects

Saudi Arabia Announces Renewable Energy Projects

Saudi Arabia launched five new projects to produce electricity using renewable energy as part of the fourth phase of the Kingdom's National Renewable Energy Program (NREP).

The Saudi Power Procurement Company (SPPC) explained that the new projects have a total capacity of 3,300 megawatts, including three wind energy projects and two solar energy projects.

The total production of wind energy projects stands at 1,800 megawatts, distributed for a project in Yanbu with a capacity of 700 megawatts, another in al-Ghat with 600 megawatts, and a third in Waad al-Shamal with 500 megawatts.

The total capacity of solar projects reaches 1,500 megawatts, distributed to a project in al-Henakiyah with 1,100 megawatts and another in Tubarjal with 400 megawatts.

The kingdom targets to reach the best energy mix to produce electricity from renewable energy resources, use gas with 50 percent for each of them, and replace the fuel used to produce electricity by 2030.

Last August, the Ministries of Energy and Finance completed all necessary legal procedures to purchase and transfer the ownership of Saudi Electricity Company's (SEC) stakes in the SPPC to the government ownership.

The arrangements came from the electricity sector's restructuring program and complemented the financial and regulatory reforms.

The reforms were approved by the Ministerial