Saudi Arabia and Abu Dhabi Target Renewable Energy Expansion with 148 GW Capacity by 2030/2035, Backed by $1.8 Billion Grid Investments

Saudi Arabia targets 50% renewable electricity output (approximately 130GW) by 2030, primarily solar (60%) and wind (40%), phasing out inefficient oil-fired plants for combined-cycle gas turbines exceeding 60% efficiency. Abu Dhabi plans 18GW of solar photovoltaic capacity by 2035. Project ownership is split 60/40 between government entities and international firms. Financing relies on corporate lending from regional and international banks. $1.8 billion will be invested in grid expansion between 2023 and 2028, managed by the GCCIA, alongside investments in digitalization and battery storage.