Launching in 2024, Saudi Energy Convention will be hosted in Riyadh - a global hub for the energy industry today and for the energy transition tomorrow.
Underpinned by Saudi Vision 2030, Saudi Arabia is embracing a sweeping transformation agenda, with a key focus on expanding the
use of sustainable, renewable energy, solidifying the country's steadfast commitment to embracing the energy transition.
Under the stewardship of His Royal Highness Prince Mohammed bin Salman bin Abdulaziz, Saudi Vision 2023 delivers a clear, forward- thinking plan to steer Saudi Arabia closer towards a lower-carbon future.
With over 100 initiatives and 700 projects spanning all sectors already in place, the opportunities within the energy value chain are vast, promising to drive global collaboration and partnerships that will foster a resilient, sustainable economy.
$266 Billion has been allocated for investment in cleaner energy including transport lines and distribution networks to eventually export the energy to the world.
$90 Billion of investment will be required over the next 5 years to meet domestic energy demand, driven by rapid population and economic growth.
Saudi Arabia ranks 6th worldwide in solar energy potential and 12th in wind energy potential and plans to generate 50% of it's electricity from renewables by 2030.
The Ministry of Energy has announced the goal of becoming the world's largest hydrogen producer with an $8.4 billion hydrogen facility under construction at Oxagon in NEOM.
In pursuit of net-zero targets, an estimated 26,000 government and public buildings require retrofitting nationwide with plans in place to install 50,000 domestic EV charging stations by 2025.
Saudi Arabia's privatisation program has exceeded $50 billion in investments across 200 projects with another 300 currently under evaluation presenting opportunities for both multinationals and SMEs.
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