Saudi Arabia plans to implement 12 projects in the field of renewable energy to produce about four GW of electricity from solar and wind power.
The value of these projects is expected to amount to about seven billion dollars (SR26.25 billion)
This comes as part of a new trend to rapidly develop the renewable energy sector in the country by localizing technologies, providing inspection and auditing services in the field of research and development, according to Eng. Mahdi al-Dosari, Chairman of the Board of Directors of GCC Electrical Testing Laboratory, a company owned by the Public Investment Fund, Saudi Aramco, the electricity company and local partners.
Dosari told Asharq Al-Awsat that the company will work through its renewable energy arm to develop Saudi standards that comply with international ones for solar panels and investment in this field.
Licenses will also be issued to service providers, including their commitment to the new standards in the manufacture, import, and installation of solar panels, he explained.
Saudi Arabia targets producing 58.7 GW by 2030, including 40 GW of solar power, 16 GW of wind power and about 2.7 GW of concentrated solar power.
The localization of this sector began with the establishment of multiple partnerships with leading international companies in this field, Dosari noted, adding that the company is ready to support ambitious plans and targets announced by the Ministry of Energy, Industry and Mineral Resources in Saudi Arabia.
He pointed out that King Salman Renewable Energy Initiative and its focus on localizing the supply chain and increasing the local content will contribute to Saudi Arabia's strategic transformation program, which includes the localization of industries, services, and technologies in Saudi Arabia, creating viable job opportunities for Saudi youth and building a strong educated economy.
