How Saudi Arabia’s Surging Renewables Investment is Powering the Economy

At the ongoing COP28 climate summit, Saudi Arabia revealed that investments in renewable energy are yielding big returns both economically and environmentally.

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According to officials, Saudi connected a massive 2,100 megawatts of renewables to the national grid in 2022.

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This represents a huge 300% increase compared to 2021’s capacity. With total renewable energy installations now exceeding 2,800 megawatts

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From a financial perspective, expanding renewable capacity on such a scale indicates Saudi is pouring substantial funds into the green energy sector.

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That points to billions more riyals of investment flowing into the renewables industry.

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Their plan is called the Saudi Green Initiative. The goal of this huge project is to improve lives through clean power.

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