Saudi Arabia on Track to Achieve 2030 Renewable Target
Saudi Arabia is making significant progress towards achieving its 2030 renewable target of 130 gigawatts, with a new study highlighting the country’s green energy growth. According to a report by GlobalData, the Kingdom has been strengthening its green policies and implementing measures to ensure a secure power supply for the future.
Key Findings from the Report
The data consulting company pointed out that Saudi Arabia has added 2.1 gigawatts of renewable power capacity since 2022, showcasing its commitment to sustainability. The initial target of deploying 9.5 gigawatts by 2030 has been revised to 130 gigawatts, reflecting the country’s ambitious goals.
Renewable Technologies in Focus
Solar and wind power are expected to play a crucial role in Saudi Arabia’s renewable energy transition, given the abundance of sunlight and wind resources in the region. Solar energy currently dominates the green power capacity in the Kingdom, followed by onshore wind and thermal sources.
Future Projections and Targets
The report predicts that Saudi Arabia’s renewable power capacity will continue to grow, with the share in the total energy mix expected to reach 35.4% by 2035. By adding over 20 gigawatts annually, the Kingdom is on track to meet its renewable energy target.
Government Initiatives and Commitments
Saudi Arabia’s Minister of Economy and Planning has expressed confidence in deriving 50% of the country’s energy needs from renewable sources by 2030. The launch of the Green Finance Framework further demonstrates the Kingdom’s commitment to climate financing and achieving net-zero targets by 2060.