Saudi Arabia Unveils $8.3B Renewable Energy Plan for 130GW by 2028
Saudi Arabia has revealed ambitious plans to become a global leader in renewable energy. The country aims to install around 130 gigawatts of clean energy within five years, with operations beginning between late 2027 and early 2028. This includes seven new projects, with an initial investment of approximately $8.3 billion.
The projects, which include Bisha, Humaij, Khulis, Afif 1 and 2, Starah, and Shaqra, are a joint venture between ACWA Power, Badeel, and SAPCO. They aim to provide a capacity of 15,000 megawatts of clean energy, consisting of 12,000 MW of solar energy and 3,000 MW of wind energy. This will help Saudi Arabia achieve its goal of covering 70% of its sustainable capacity with these projects by 2030, expanding its wind and solar energy sector to 21 projects of 34 gigawatts.
Among these projects is the construction of the climate-neutral megacity Neom, focusing on 100% renewable energy through solar and wind power. Additionally, Saudi Arabia plans to export green hydrogen, with a focus on carbon capture and storage, greenhouse gas emissions reduction, and synthetic fuels. A $1.5 billion fund from Saudi Aramco is supporting this energy transition.
Saudi Arabia's plans not only position it as a leader in renewable energies but also aim to make it a broker in the India-Middle East-Europe (IMEC) market, serving as a nexus between the East and the West through sustainable energy infrastructure. Despite the continued influence of fossil fuel-rich countries, Saudi Arabia's investments in renewable energy signal a shift towards a more sustainable future.
