Start on Oct. 18, Riyadh will host the two-day Kingdom Renewable Energy Summit 2017, with a focus on the latest renewable energy technologies and solutions.
The energy sector has increased emphasis on renewable energy and new technologies under Vision 2030, to diversify energy sources by reducing dependence on oil and speeding up implementation of clean energy programs.
Saudi Arabia’s renewable programs involve investments of between $30 billion and $50 billion by 2023, as the Kingdom is targeting 9.5 gigawatts of renewable energy to balance the country’s energy mix and environmental goals, said the summit’s website.
New initiatives for renewable energy will help reduce the Kingdom’s greenhouse gas emissions and contribute to the global climate action outlined in the Paris climate agreement.
The Kingdom also has considerable solar power potential that will help reduce its use of fossil fuels. With its vast landscape featuring empty stretches of desert that can host solar panels, and vast deposits of clear sand that can be used in the manufacture of silicon photovoltaic cells, the Kingdom is highly suited to the development of solar energy.
A report by the International Renewable Energy Agency (IRENA) estimated that achieving Gulf Cooperation Council (GCC) renewable energy targets could create an average of 140,000 direct jobs per year.