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Saudi Arabia aims to get 33 percent of its energy from renewable energy sources by 2032, by spending $109 billion.
World’s largest oil producer, Saudi Arabia, is set to discuss its drive towards renewable energy at the forthcoming third annual Solar Arabia Summit, scheduled to be held in Riyadh from September 29-30.
The kingdom’s major investment drive has evoked wide publicity. King Abdullah City for Atomic and Renewable Energy, commonly known as KACARE released a series of documents detailing the revised National Energy Plan.
54 GW from renewable energy
Saudi Arabia plans to produce 54 GW of energy through a diversified renewable energy sources. It plans to tap several sources such as solar power, nuclear energy, geothermal energy and wind power to achieve its ambitious target during the next two decades.
Once the ambitious target is achieved, Saudi Arabia would derive 41 GW of energy from solar, 18 GW from nuclear, 3 GW from waste to energy, 1 GW from geothermal besides an additional 9 GW from wind power, especially for water desalination plants.
Saudi Arabia drive towards renewable energy
Saudi Arabia has already put in place high level plans to tap renewable energy sources. However, it doesn’t have a detailed timeline for a clear and gradual shift to renewal energy.
Around 35 international and regional renewable energy experts would be discussing the key challenges faced by Saudi Arabia and the steps to overcome them at the third annual Solar Arabia Summit. The experts are expected to share their industry experience besides discussing the latest market trends and policy development in the Kingdom.
Besides, leading international solution and service providers such as Schneider Electric, Total, Sterling and Wilson, SMA Technology and Trishe Renewables are expected to participate in the summit.
Some analysts feel solar energy should be particularly effective, especially solar thermal with storage. The kingdom can tap its vast sunlight resources in its drive towards adoption of renewable energy.
Michael Graham Richard in his recent post in Treehugger remarked “If there’s one thing that Saudi Arabia has in greater quantity than oil, it’s sunlight”.