Saudi Arabia, Iran discuss regional security, stability
RIYADH (WAM)Saudi Minister of Defence Prince Khalid bin Salman bin Abdulaziz received a phone call from Iranian Chief of Staff of the Armed Forces Major General Abdolrahim Mousavi, Saudi Press Agency (SPA) reported.
During the call, they reviewed bilateral relations in the defence field and discussed regional developments as well as efforts to maintain security and stability.
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The National
32 minutes ago
- The National
Where is Saudi Arabia on its plan to power itself on sun and wind rather than oil?
"Saudi Arabia's renewables plans are overhyped and falling short!" "No, they're not, they're transformational and decisive for the future of the world oil market!" Between competing narratives, what is the truth of the kingdom's ambitious plans to power itself on sun and wind rather than oil? This debate arises from three key trends: Saudi power demand is growing steeply, the country burns huge quantities of oil for electricity and it has one of the world's most ambitious plans to build renewable generation. If it succeeds in phasing out petroleum in power generation by 2030, that could upset the global oil market – at least in theory. Let us break down these components. Saudi electricity consumption is powered by the push for diversification and industrialisation, and more recently by data centre construction. Power demand jumped 10 per cent in the first half of this year and peak needs exceeded 75 gigawatts for the first time. 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The Saudi renewable programme has had several false starts, beginning with the King Abdullah City for Atomic and Renewable Energy, which in 2013 set a target of 58.7 gigawatts by 2030. Little progress was made, leading to scepticism from project developers. But over the last two years, progress has accelerated enormously. Today, the country has 10.2 gigawatts of operational renewable energy, mostly solar photovoltaic. By the end of 2028, the installed capacity should exceed 40 gigawatts. So hitting the 2030 target would require an average of 45 gigawatts built in both 2029 and 2030. With planned awards at 20 gigawatts annually, Riyadh looks behind schedule, but it could reach its goal by 2032 or 2033, still an impressive achievement. This is purely a question of organisation; national champion Acwa Power and the kingdom's sovereign wealth fund, the Public Investment Fund, plus numerous international renewable developers, are keen to deliver and finance has been readily available. 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