01 March 2020

Saudi Arabia’s renewables drive will significantly boost its economic diversification programme and see public and private sector investment rise to more than $30 billion by 2025, said a leading regional power sector investor.

The kingdom’s ambitious plans for a renewable-focused future will unleash a flurry of private sector investment and local manufacturing job creation opportunities, said Turki Al Shehri, CEO of Engie Saudi Arabia, the industrial investor in the integrated water and power plant (IWPP) sector.

Ahead of his participation in the agenda-setting Middle East Energy Renewables Conference, running on March 3 and 4 at the Dubai World Trade Centre (DWTC), Al Shehri said Saudi Arabia’s energy sector transformation will have multi-faceted benefits.

“The diversification of the energy mix goes beyond multiple clean energy sources but also provides the opportunity to create jobs through manufacturing,” explained Al Shehri. “In parallel to the renewable tenders being issued, efforts are under way to localise renewable manufacturing in the kingdom.”

Al Shehri’s forecast comes as Saudi Arabia pursues an energy mix strategy that comprises 30 per cent renewables and 70 per cent gas by 2030. Renewables will comprise 16 GW wind, 40GW solar, and 2.7 GW concentrated solar power.”

Al Shehri will use his participation at the free-to-attend Renewables Conference to outline how future-focused energy companies can maximise Saudi Arabia’s green investment potential. 

The Renewables Conference is part of an expanded Middle East Energy knowledge programme which, for the first time, includes a high-level plenary sessions summit providing specific market information. A third conference, devoted to digitalisation comprises over 30 conference sessions, more than 150 speakers and represents 25 hours of learning opportunities.

More than 1,200 companies are due to take part in Middle East Energy across the exhibition’s five product sectors – Digitalisation, Power Generation, Transmission & Distribution, Energy Consumption & Management and Renewables.  

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