Latest news with #AbdulazizbinSalman
Saudi Gazette
3 days ago
- Business
- Saudi Gazette
Saudi Arabia outpaces China and India in renewable energy project costs, says energy minister
Saudi Gazette report RIYADH — Saudi Arabia is now implementing renewable energy projects at costs even lower than China and India, Energy Minister Prince Abdulaziz bin Salman said, emphasizing the Kingdom's global leadership in green hydrogen, battery technologies, and clean energy. 'Saudi Arabia has become cheaper than China and India,' the minister said during the International Workshop on Renewable Energy and Green Hydrogen Exports held in Riyadh on Sunday. 'As I always say: catch up with us if you can.' '15 gigawatts of renewable energy projects in just one week at the most competitive prices globally — and with pride: catch up if you can!' Minister of Energy speaks today at the International Workshop in Riyadh: 'Renewable Energy and Green Hydrogen Export' on the Kingdom's... — وزارة الطاقة (@MoEnergy_Saudi) July 20, 2025 Prince Abdulaziz stressed the Kingdom's ability to compete with China even in battery manufacturing, citing the recent project in Bisha and the latest tender round where 'we managed to catch up with China.'The minister highlighted the signing of renewable energy projects with a combined capacity of 15 gigawatts last week, with prices among the most competitive said the Kingdom is executing these projects at exceptionally low costs across both wind and solar power Abdulaziz also confirmed that Saudi Arabia is already exporting green hydrogen and that the country is working on battery projects with a combined capacity of 48 noted that Saudi Arabia is simultaneously advancing carbon capture initiatives, including pipelines and related addition to its renewable energy push, the Kingdom is undergoing an unprecedented expansion in gas production and is enhancing its fleet of power generation units with the most efficient systems available globally.
Saudi Gazette
4 days ago
- Business
- Saudi Gazette
Saudi Arabia launches green hydrogen export value chain to Europe
Saudi Gazette report RIYADH — Saudi Arabia has launched a strategic value chain to export green hydrogen and renewable energy to Europe, marking a major step in its efforts to become a global clean energy hub. The move was formalized on Sunday as ACWA Power signed a series of agreements and memoranda of understanding (MoUs) with leading international partners during a high-level workshop in Riyadh. Held under the supervision of the Ministry of Energy and attended by Minister of Energy Prince Abdulaziz bin Salman, the Renewable Energy and Green Hydrogen Export Workshop brought together top officials from Saudi Arabia, Greece, France, and Germany, as well as executives from global energy firms and national institutions. The agreements aim to establish a robust framework for developing large-scale renewable energy projects in the Kingdom dedicated to export, and to create transmission corridors linking Saudi Arabia and Europe. The initiative is also part of the Kingdom's leading role in the India-Middle East-Europe Economic Corridor (IMEC), reinforcing its strategic position connecting East and West.A multi-party MoU was signed between ACWA Power and major European firms, including Edison S.p.A. (Italy), TotalEnergies Renewables SAS (France), Zhero Europe B.V. (Netherlands), and EnBW (Germany), to assess market demand and technical feasibility for electricity MoUs were signed with HVDC cable and transmission specialists such as CESI, Prysmian, GE Vernova, Siemens Energy, and Hitachi to support infrastructure development across borders.A Joint Development Agreement was also concluded with Germany's EnBW to collaborate on the Yanbu Green Hydrogen Hub, which is set to begin operations in 2030. The project will be a fully integrated complex with renewable energy generation, desalination, electrolysis, ammonia conversion, and a dedicated export terminal.
Leaders
16-07-2025
- Politics
- Leaders
Saudi Energy & Foreign Ministers Meet IAEA Chief in Riyadh
Saudi Arabia's Ministers of Energy and Foreign Affairs held separate meeting with the Director-General of the International Atomic Energy Agency (IAEA), Rafael Grossi, in Riyadh, reported the Saudi Press Agency (SPA). On Wednesday, the Saudi Energy Minister, Prince Abdulaziz bin Salman, met with Grossi in Riyadh. During their meeting, the two officials discussed topics of shared interest, updates on the Saudi National Atomic Energy Project, and progress achieved in cooperation with the IAEA. Moreover, both officials explored avenues for strengthening technical cooperation and applying the highest international standards for nuclear safety and security. During their meeting, the Saudi Energy Minister and the IAEA Chief also touched upon the preparations for the International Conference on Nuclear and Radiological Emergencies, which Saudi Arabia will host in Riyadh in December 2025. The meeting is part of the ongoing collaboration between the Kingdom and the IAEA, covering many areas including expertise exchange and fostering national capabilities in the field of nuclear and radiological energy to develop the nuclear infrastructure, in line with the objectives of Saudi Vision 2030. Earlier on Wednesday, the Saudi Foreign Minister, Prince Faisal bin Farhan, met with the IAEA Chief in Riyadh. They discussed ways to boost multilateral international action, issues of common concern, as well as the latest regional and international developments. The Saudi Deputy Minister for International Multilateral Affairs and General Supervisor of the Public Diplomacy Deputyship, Abdulrahman Al-Rassi, attended the meeting. Short link : Post Views: 5
Saudi Gazette
16-07-2025
- Politics
- Saudi Gazette
Energy minister, IAEA chief discuss Saudi nuclear energy program progress
Saudi Gazette report RIYADH — Prince Abdulaziz bin Salman, Saudi Arabia's Minister of Energy, received Rafael Grossi, Director General of the International Atomic Energy Agency (IAEA), in Riyadh on Tuesday to discuss ongoing cooperation and progress in the Kingdom's national nuclear energy program. The meeting covered key areas of mutual interest, including technical and regulatory collaboration, advancements achieved through Saudi-IAEA cooperation, and the application of the highest international standards for nuclear safety and security. Discussions also focused on preparations for the International Conference on Nuclear and Radiological Emergency Preparedness and Response, which Saudi Arabia is set to host in December 2025 in Riyadh. The event will be organized in partnership with the IAEA and overseen by the Nuclear and Radiological Regulatory Commission. The meeting reflects the Kingdom's ongoing efforts to strengthen its nuclear infrastructure and build national capabilities through international partnerships. It aligns with Vision 2030's energy diversification goals, which include integrating peaceful nuclear energy into the national energy mix to enhance sustainability.
Saudi Gazette
14-07-2025
- Business
- Saudi Gazette
Saudi energy minister urges global action on energy poverty at OPEC forum
Saudi Gazette report RIYADH — Saudi Arabia's Minister of Energy, Prince Abdulaziz bin Salman, emphasized the urgent need to tackle global energy poverty during his address at the OPEC International Seminar in Vienna on Monday. Highlighting one of the most pressing global energy challenges, the minister cited United Nations estimates that 1.2 billion people suffer from energy poverty — a figure he believes could be nearly three times higher in reality. He noted that over two billion people still rely on traditional, unsafe cooking fuels, which contribute to pollution and health hazards. Prince Abdulaziz revealed that a dedicated Saudi team is actively working across Africa and Southeast Asia to address energy poverty, engaging directly with governments to implement practical solutions. He cautioned that the global energy transition should not come at the expense of economic development, urging that each country's economic context be considered in crafting energy strategies. He further stressed the need for a balanced global energy mix, where oil and gas remain essential components alongside the expansion of renewable energy sources. With global population projections reaching nearly 10 billion by 2050 and energy demand expected to rise by 50%, he said a diverse approach is crucial to ensuring sustainable energy access. The minister underscored the Kingdom's consistent energy policies and its commitment to translating them into real-world cautioned that the global energy transition should not come at the expense of economic development, urging that each country's economic context be considered in crafting energy further stressed the need for a balanced global energy mix, where oil and gas remain essential components alongside the expansion of renewable energy global population projections reaching nearly 10 billion by 2050 and energy demand expected to rise by 50%, he said a diverse approach is crucial to ensuring sustainable energy access.
