Solar Energy Saudi Project

How much does solar power cost in Saudi Arabia?

First project under The Public Investment Fund’s (PIF) renewable energy programme, the project has recorded the second lowest cost globally for Solar PV electricity production [USD 1.239 cents/kwh]. The PIF-backed consortium, led by ACWA Power, signed a power purchase agreement with the Saudi Power Procurement Company for 25 years.

Will Saudi Arabia use solar power?

“This is an important part of PIF’s strategy to build capacity in renewable energy, and its commitment to develop 70 percent of Saudi Arabia’s renewables by the end of the decade,” explains AlBalaihed. Another planned use for solar power in Saudi Arabia is green hydrogen.

Is solar a good investment for Saudi Arabia?

“Solar offers almost limitless potential,” Boesmans says. “This is an important part of PIF’s strategy to build capacity in renewable energy, and its commitment to develop 70 percent of Saudi Arabia’s renewables by the end of the decade,” explains AlBalaihed.

Is solar energy sustainable in Saudi Arabia?

The transition to solar energy in Saudi Arabia represents a multifaceted approach to sustainability, addressing the triple bottom line (TBL) of social, ecological, and economic aspects. Social Equity: The move towards solar energy is significantly enhancing social equity in Saudi Arabia.

How is Saudi Arabia developing its solar energy sector?

1. Saudi Arabia has initiated the National Renewable Energy Program (NREP) to develop its solar energy sector, with several projects in progress, including a 600 MW capacity project. 2. Large-scale project such as Sakaka solar Independent Power Producer (IPP) (300 MW) and Dumat Al Jandal wind project (400 MW) were part of the first bidding process.

Which solar energy projects are completed in Saudi Arabia by 2030?

The Lunch of Saudi Solar Energy Program Sakaka, Al Shuaibah, and Sudair Solar Energy Projects have been completed By 2030, the gaol is 40GW PV solar and 2.7GW (CSP) concentrated solar power capacity