Saudi Arabia aims to become the world’s foremost market for renewable energy with an aggressive investment budget of $109 billion. By 2032, the country strives to generate as much as a third of the Kingdom’s energy demands using renewable energy.

 

Following the publicity surrounding the country’s major investment drive, King Abdullah City for Atomic and Renewable Energy (KACARE) released a series of documents detailing the revised National Energy Plan. In addition to the 41 GW of solar power, of which 25 GW will be of Concentrated Solar Power and 16 GW of Photovoltaic, the Kingdom is aiming to generate 18 GW of nuclear energy, 3 GW of waste to energy, 1 GW of geothermal and an additional 9 GW of wind power, specifically for water desalination plants.

 

Establishing a time-line with long-term policies is at the top of the list for achieving such a transformation. Various international and regional renewable energy experts will be discussing the key challenges faced by Saudi Arabia and the steps toward overcoming them at the upcoming 3rd Annual Solar Arabia Summit. Taking place on September 29-30 in Riyadh, the summit is hosting 35 experts who will each share their experience in the industry and discuss the latest market trends and policy development in the Kingdom.

 

Alongside the summit’s conference agenda, 250 Saudi energy stakeholders are attending to have one-to-one business meetings with up to 40 international solution and service providers.