Saudi Arabia could account for 7 per cent of all PV solar additions by 2030
Some 7 per cent of global solar PV capacity additions between now and 2030 will be in Saudi Arabia, Turki al-Shehri, CEO, Engie told the Intersolar conference in Dubai on 4 March.
In addition to the Ministry of Energy, which is working to develop 60GW of wind and solar projects by 2030, plans for renewables investments have been announced by megacity developers, private sector companies and other state entities in the kingdom. Al-Shehri said the next 3-5 years could see 34GW of renewables projects tendered in Saudi Arabia, and 100GW of solar installed by 2030.
Al-Shehri said it was unsustainable for renewable projects to continue to have sovereign backing and he expected to see concessions and commercial risk framework agreements to emerge in the kingdom in the future, along with more corporate PPAs. For this to be possible, current regulations would need to be extended.
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