Market Overview
Saudi Elenex
24 years of sustained
success serving industry
leaders at
the center of
the largest market in the
Middle East...
The National Renewable Energy Program (NREP), A key strategic initiative of Vision 2030…NREP aims to increase the Kingdom’s renewable energy production, towards reducing carbon dioxide emissions, creating a multi-billion US$ renewable energy market…
Saudi Arabia Targets $101bnRenewable Energy Investment...
Saudi Arabia’s Energy Minister Prince Abdulaziz binSalman announced big renewable investment plansduring the kingdom’s 2022 budget, Prince Abdulazizsays that the kingdom will invest SR380bn ($101bn)into renewable energy production by 2030. This comesas Saudi Arabia aims for renewable energy to provide50% of electricity generation by 2030, with the otherhalf slated to come from gas-fired thermal powerplants.
US$15.9 billion projects in pipe: 50% of Saudi electricity from renewables by 2030...
The Kingdom is witnessing a sharp rise in its renewable energy capacity in the last years, mainly driven by the increasing focus on environmental concerns. The Saudi Arabia renewable energy market is expected tog row approximately at a CAGR of over 24.2% (2021-2026). To preserve non-renewable fossil fuel resources and transform Saudi Arabia into the Kingdom of Sustainable Energy, an ambitious plan is developed to generate 50% of electricity from renewable energy reaching 58.7 gigawatts by 2030, of which 40 gigawatts would be from solar and 16 gigawatts from wind energy and the balance coming from other renewableenergy sources.
Sakaka Solar Power Plant – $302m
The Sakaka Solar Power Plant Project in Al Jawfis under the Ministry of Energy and was the first Renewable Energy project to be guided by The Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud. The plant uses solar energy through photovoltaic technology (PV) to generate electricity.
Absorption Base Desalination Plant
In 2017 work on the Absorption Base Desalination Plant commenced to utilize new desalination system technologies related to design, analysis, testing and evaluation. The Plant also seeks to develop these technologies locally with the cooperation of international partners.
King Salman Energy Park
The King Salman Energy Park spans an area of 50 km²and is being developed to be the leading gateway for the region’s energy sector. It is the first industrial city in the world to receive a silver Leadership in Energy and Environmental Design (LEED) certification.
Solar PV Cell & Module Manufacturing Plant and PV Reliability Laboratory
In 2010, the King Abdulaziz City for Science and Technology (KACST) established the Solar PV Cell& Module Manufacturing Plant and PV Reliability Laboratory to produce solar panels and cells. The project aims to transfer solar energy technologies and develop commercial-grade equipment suitable for severe heat and sandstorms.
Low Power Research Reactor
The nuclear research reactor project, which was inaugurated by His Royal Highness, Prince Mohammed bin Salman bin Abdulaziz, Crown Prince, Prime Minister, and Chairman of the Council of Economic and Development Affairs, is the first of its kind in the Kingdom of Saudi Arabia.
Water Desalination Project Using Solar Power
The Water Desalination Project uses solar power and utilizes the availability of the Kingdom’s solar resources to meet the challenge of water sustainability. The project was inaugurated by His Royal Highness Crown Prince Mohammed bin Salman bin Abdulaziz in November 2018.
