Saudi Arabia is intensifying its efforts to diversify its energy sources by investing significantly in renewable energy projects. This initiative aligns with the nation's Vision 2030 objectives, which aim to reduce dependence on oil and promote sustainable development.
In July 2025, a consortium led by ACWA Power, in partnership with Aramco Power, announced an investment of approximately $8.3 billion to develop seven large-scale renewable energy projects across the Kingdom. These projects include five solar photovoltaic plants and two wind power plants, collectively adding 15,000 MW to the national grid. The locations of these projects span various provinces, including Asir, Madinah, Makkah, and Riyadh. The completion of these projects is anticipated between the second half of 2027 and the first half of 2028. This endeavor is a significant component of Saudi Arabia's National Renewable Energy Program (NREP), which is overseen by the Ministry of Energy and reflects the Public Investment Fund's (PIF) commitment to achieving 70% of the country's renewable energy targets by 2030.
These developments are part of Saudi Arabia's broader strategy to meet its Vision 2030 goals, which include generating 50% of its electricity from renewable sources by 2030 and achieving net-zero carbon emissions by 2060. The Kingdom's renewable energy program encompasses a diverse range of projects, including solar, wind, and green hydrogen initiatives, all aimed at fostering economic diversification and environmental sustainability.
By advancing these renewable energy projects, Saudi Arabia is positioning itself as a leader in the global transition to sustainable energy, contributing to both regional and global efforts to combat climate change.