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Saudi Arabia plans to invest more than SR1 trillion ($270bn) into its power sector by 2030 in order to boost clean energy generation capacity and expand and modernize its transmission and distribution networks. The kingdom intends for the powergen mix to be split 50:50 between gas and renewables by 2030, entailing the development of 58.7GW of renewable capacity. This will displace more than 1mn b/d of oil from the power and water sector, freeing volumes up to be exported to global markets.

Saudi Arabia Plans Trillion Riyal worth of Clean Power Investments

Saudi Arabia plans to invest more than SR1 trillion ($270bn) into its power sector by 2030 in order to boost clean energy generation capacity and expand and modernize its transmission and distribution networks. The kingdom intends for the powergen mix to be split 50:50 between gas and renewables by 2030, entailing the development of 58.7GW of renewable capacity. This will displace more than 1mn b/d of oil from the power and water sector, freeing volumes up to be exported to global markets.

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