Renewable energy is now playing a key role in Saudi Arabia’s economic diversification efforts, according to a report by the international network of auditing, accounting and consulting firms, PricewaterhouseCoopers (PwC).
The PwC report indicates that the Kingdom plans to increase its renewable energy production capacity to 130 GW by 2030 while increasing projects linked to the electric car industry, specifying in this context that the country plans to produce 150,000 electric vehicles by 2026 and 500,000 by 2030.
“The expansion of renewable energy projects, interest in advanced industries and adoption of a sustainable vision to preserve the environment reflect the Kingdom’s commitment to achieving its national goals and its role in the energy transition global,” said Riyadh Al Najjar, Chairman of the Board of Directors of (PwC Middle East).
Read also｜Renewable energies: The ministry will accelerate projects in 2025
The International Monetary Fund (IMF) forecasts an acceleration in Saudi non-oil economic growth to 4.4% in 2025 thanks to the entry into service of several structuring projects, notably the Riyadh metro and the Red Sea resorts, launched after the end of restrictions linked to the Covid-19 pandemic.
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