Saudi Arabia’s Solar Revolution: Achieving 50% Renewable Energy By 2030 With 40 GW Of Solar Power

Published: Feb 8, 2025 09:46
Saudi Arabia has been making remarkable strides in renewable energy, with a significant focus on solar power as part of its Vision 2030 initiative.

Saudi Arabia has been making remarkable strides in renewable energy, with a significant focus on solar power as part of its Vision 2030 initiative. The Kingdom aims to generate 50% of its electricity from renewable sources by the end of the decade, with solar energy leading the charge. This commitment is backed by a massive investment of 705 billion riyals (approximately 188 billion US dollars), ensuring rapid growth in the sector.

In 2023, Saudi Arabia took a major leap in solar energy production with several large-scale projects. The Saudi Power Procurement Company (SPPC) initiated the qualification process for four groundbreaking solar projects with a combined capacity of 3,700 MW. These projects include the Al-Sadawi Project in the Eastern Province (2,000 MW), the Al-Massaa Project in the Hail region (1,000 MW), the Al-Hanakiya Project in Medina (400 MW), and the Rabigh Project in Makkah (300 MW). These initiatives will significantly reduce carbon emissions, equivalent to removing 80,000 cars from the roads annually.

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn
For more information on how to access our research reports, please contact:service.en@smm.cn
Related News
[SMM New Energy] TÜV Rheinland Officially Approved as a Notified Body Under the EU Battery Regulation
2 hours ago
[SMM New Energy] TÜV Rheinland Officially Approved as a Notified Body Under the EU Battery Regulation
Read More
[SMM New Energy] TÜV Rheinland Officially Approved as a Notified Body Under the EU Battery Regulation
[SMM New Energy] TÜV Rheinland Officially Approved as a Notified Body Under the EU Battery Regulation
TÜV Rheinland InterCert Kft (hereinafter referred to as “TÜV Rheinland”) in Hungary has been officially authorized by the European Commission, becoming the first designated Notified Body (No. 1008) under the framework of the EU Battery Regulation (EU) 2023/1542.
2 hours ago
[SMM New Energy] Gotion High-tech Plans to Boost Lithium Battery-Related Project Capacity
2 hours ago
[SMM New Energy] Gotion High-tech Plans to Boost Lithium Battery-Related Project Capacity
Read More
[SMM New Energy] Gotion High-tech Plans to Boost Lithium Battery-Related Project Capacity
[SMM New Energy] Gotion High-tech Plans to Boost Lithium Battery-Related Project Capacity
Gotion High-tech disclosed a plan for a private placement of A-shares, intending to raise no more than 5 billion yuan through the issuance. After deducting issuance expenses, the funds will be fully allocated to the annual 20GWh power battery project, the Gotion High-tech 20GWh new energy battery base project, the new-type lithium-ion battery intelligent manufacturing base project, and to supplement working capital. The announcement stated that with the explosive growth of the new energy industry, the demand in the new energy lithium battery market is increasingly expanding, and shipments of power batteries and ESS batteries continue to grow.
2 hours ago
[SMM New Energy] Honggong Technology Conference Call Disclosure Lithium Battery Orders Accounted Approx. 90% in 2025
2 hours ago
[SMM New Energy] Honggong Technology Conference Call Disclosure Lithium Battery Orders Accounted Approx. 90% in 2025
Read More
[SMM New Energy] Honggong Technology Conference Call Disclosure Lithium Battery Orders Accounted Approx. 90% in 2025
[SMM New Energy] Honggong Technology Conference Call Disclosure Lithium Battery Orders Accounted Approx. 90% in 2025
Honggong Technology held an investor conference call, attended by Yu Ziyi, Director and Deputy General Manager, He Xiaoming, CFO and Board Secretary. The call disclosed that the company secured approximately 3.554 billion yuan in new orders for 2025, with lithium battery segment orders accounting for about 90%, and non-lithium battery orders making up around 10%. Within the lithium battery segment, slurry business orders constituted approximately 2/3, while materials business orders accounted for about 1/3. The company stated that its mixed homogenization integrated machine has undergone small-scale and pilot testing at several leading domestic battery clients, with some applications exceeding one year.
2 hours ago