Saudi Arabia's Power Reform in the Development of Renewable Eenergy Field
Saudi Arabia, the world's largest oil exporter, plans to vigorously promote renewable energy projects such as solar and wind power in the power sector and consider introducing a privatization process for the power industry before proposing energy reform measures, Bloomberg reported.
Saudi Arabia plans to achieve 10% renewable energy power generation by 2023, which will also increase the proportion of nuclear power, according to a recent meeting of Saudi Energy Minister Falidge. To this end, the Saudi people have proposed a total investment of 50 billion US dollars in the power development plan, and strive to build 30 wind and solar power projects in the next 10 years, the total installed renewable power is about 10 gigawatts.
Saudi Arabia's renewable energy output was only 30 MW to 50 MW as of November last year, according to Shah'a, chief executive of Saudi Electricity Corporation. In the fourth quarter of this year, Saudi Arabia may build a wind turbine in the north with a installed capacity of 400 MW. Abdulaziz Al-Judaimi, senior vice president of Saudi Ami, also said the company was interested in renewable energy generation.
In addition, Farley also revealed that the Saudi government is considering promoting the privatization process of the power industry, restructuring the Saudi Electric Power Company, separating its power generation, transmission and distribution business, and rebuilding a new company responsible for domestic electricity trade and export of electricity.
The process of privatization of the power industry has actually begun. "Shah said in an interview that we are also trying to push forward, but there is no clear timetable for restructuring the company."