Saudi Arabia has signed a raft of contracts for renewable‑energy projects totaling 15 gigawatts (GW) – among the world’s most keenly priced – accelerating its push under Vision 2030 to cut reliance on oil and become a clean‑power heavyweight.
The deals, sealed last week, are expected to turbo‑charge the kingdom’s green‑energy sector, attracting further investment and innovation while creating jobs in manufacturing, logistics and research.
At an international workshop in Riyadh on “Exporting Renewable Energy and Green Hydrogen”, Energy Minister Prince Abdulaziz bin Salman hailed the prices Saudi developers secured as even lower than China and India.
“Catch up with us if you can,” he quipped.
The minister said the kingdom could now rival China on battery technology after the latest tender in Bisha and is already exporting green hydrogen produced at highly competitive wind and solar tariffs.
Late on Monday, the Energy Ministry launched the first phase of the Yanbu Green Hydrogen Hub with Germany’s EnBW.
The integrated complex will bundle renewable‑power generation, water‑desalination units, electrolyzers and green‑ammonia conversion facilities linked to a dedicated export terminal, helping meet surging global demand for low‑carbon fuels.
Domestic developer ACWA Power also signed agreements and memoranda of understanding with several European partners to ship Saudi renewables and green hydrogen to the continent, dovetailing with Riyadh’s role in an emerging East‑West economic corridor.
Prince Abdulaziz revealed that Saudi Arabia is working on battery‑storage projects with 48 GW of capacity and on a network of carbon‑capture pipelines and other infrastructure.
The kingdom is simultaneously ramping up gas output and upgrading its power‑generation fleet with “the world’s most efficient” turbines, he added.
