Saudi Arabia closed 2024 on a high note in its clean energy journey, completing 10 major renewable energy projects with a combined investment of SAR 19.8 billion. These efforts align with the Kingdom’s ambitious Vision 2030 goals and the broader Saudi Green Initiative, aiming to shift the national energy mix toward sustainability.
A Big Year for Solar and Wind
Out of the ten operational projects:
- Nine are solar-based, contributing 6,151 megawatts (MW)
- One is a wind project, delivering 400 MW
- Total capacity installed: 6,551 MW
This marks more than double the solar capacity Saudi Arabia had just a year earlier.
2024 Highlights
- Five new solar plants were launched in 2024 alone, adding over 3,750 MW to the national grid.
- These clean energy sources are expected to power more than 1.1 million homes across the Kingdom.
- Most of the funding, SAR 18.2 billion, went toward solar development.
Driving Economic and Environmental Gains
Saudi Arabia’s renewable energy expansion is more than a green milestone—it’s an economic engine:
- Job Creation: New opportunities in construction, maintenance, and tech innovation.
- Local Manufacturing: Increased demand for solar panels and infrastructure components.
- Energy Diversification: Reducing oil dependency while building a low-carbon economy.
The Kingdom has set a goal to generate 50% of its electricity from renewable sources by 2030, and these projects are helping turn that vision into reality.
Breakdown of Investment
| Category | Projects | Capacity (MW) | Investment (SAR) |
|---|---|---|---|
| Solar | 9 | 6,151 | ~18.2 billion |
| Wind | 1 | 400 | Remaining amount |
| Total | 10 | 6,551 | 19.8 billion |
Strategic Partnerships and Global Interest
Saudi Arabia’s 2024 success also caught international attention. New agreements signed with global energy firms unlocked further investments, paving the way for:
- 15 GW of future projects already planned
- SAR 31 billion ($8.3 billion) worth of new deals in the pipeline
These strategic moves position Saudi Arabia as a key player in the global transition to clean energy.
Looking Ahead
With a national target of 130 GW of renewable capacity by 2030, the Kingdom’s momentum is strong. By expanding its solar and wind footprint, attracting global investment, and aligning infrastructure with policy reforms, Saudi Arabia is fast becoming a model for clean energy leadership in the region.
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Owais Qarni is a Co-Founder, Chief Editor, and Author of Saudi Scoop. He is passionate about tech, cars, and traveling. A Dreamer, Explorer & Optimist!
