Riyadh–Saudi Energy Minister Khaled Al-Falih said that the Kingdom was planning to produce 9.5 gigawatts of power through renewable energy sources, including solar and wind energy by 2030.
The minister’s comments came during the opening of the Energy Dialogue 2016, held in Riyadh on the first and second of November.
The two-day Energy Dialogue is organized by King Abdullah Petroleum Studies and Research Center (KAPSARC) to find solutions and share common vision on energy challenges facing the global community.
Al-Falih stressed KAPSARC’s primary role to address global challenges facing the energy sector, and identify solutions that can be put forward to the global energy community.
During the opening speech, the Saudi energy minister talked about the evolution of global energy system, the multidimensional wave of change that is reorienting world economics, as well as the Kingdom’s economic strategy in line with Saudi Vision 2030.
Al-Falih stressed the need to address issues related to climate change, noting that a balance should be created between economic development and the necessity to preserve the environment by increasing the economic value of energy.
The minister stated that the Kingdom was committed to meeting the energy needs of China, India and other developing economies during the stages of transformation that will last for decades, with the aim of reaching a more environmentally sustainable future.
He added that the world should rely more on renewable sources to meet its energy needs, noting that the Kingdom was exploring the best means to achieve global climate objectives.
The Kingdom is investing heavily in renewable energy and has set major targets for renewable energy production, the minister said.
In this context, Al-Falih said that Saudi Arabia was planning to produce 9.5 gigawatts of power generation through renewable sources, in particular solar and wind energy.
The minister praised the efforts deployed by King Abdullah City for Atomic and Renewable Energy to achieve sustainable energy goals in line with Saudi Vision 2030.