10 Days
Source:
الاقتصادية
Public Investment Fund invests $17B in renewables
The Public Investment Fund of Saudi Arabia has doubled its investments in the renewable energy sector over the past five years, exceeding $17 billion, as part of a strategy aimed at generating 70% of electricity from renewable sources by 2030. The investments include the implementation of solar and wind energy projects with a total capacity of up to 29.3 gigawatts, including 4 utility-scale plants and 9 under construction, targeting a production capacity of 59 gigawatts. The fund also focuses on localizing the manufacturing of renewable energy equipment to strengthen the private sector and develop local content, along with developing infrastructure and managing waste sustainably.
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