Saudi Arabia has more than $140 billion of active Power projects
The Kingdom of Saudi Arabia has more than $140 billion of active power Projects. ABiQ estimates these markets will spend more than $1.2 billion during 2021 and close to $4.0 billion in 2022 on power projects.
As the largest producer and exporter of oil, Saudi Arabia has traditionally relied on fossil fuels to meet its power demand. With a new generation at the helm, the Kingdom has announced an ambitious renewable energy program.
Saudi Arabia has more than $140 billion of active power projects with its renewable and nuclear program accounting for most of this. A diverse range of wind, solar and waste to energy projects included in the mix. ABiQ estimates that Saudi power sector will see cash flows on power projects totalling $1.2 billion during 2021 and will increase to almost $4 billion in 2022.
Of the $140 billion, $65 billion of projects are already under construction. The largest developer is the Renewable Energy Project Development Office, with 45 per cent of the market share.
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