Since ages till date, life in SA is driven by its huge quantum of oil reserve. The oil is pumped out for not only running the shopping malls and gleaming towers but also the government sector employing a major part of the Saudis. Presently Saudi Arabia is attempting to build connections with another important natural resource which it possesses in abundance. Any guesses? It is sunlight.
The country is embarking on a journey under the Crown Prince- Mohammed Bin Salman on an effort to reinvigorate growth and diversify its economic structure by simply investing the money in renewable energy. Not only is the Saudi government willing to give a new shape to its prevailing energy mix but also to emerge as a global power in the clean energy initiative being carried out throughout the world.
Though reaching this goal is not an easy task but the strategies being followed by the country is showing positive response with its progress rate. On Monday, Riyadh tapped a Saudi energy firm ACWA Power to develop a reliable solar farm that can help in generating enough electricity to light about 2,00,000 homes. The estimated cost of the project is S$393million and according to the head of the renewable energy program carried out by the Kingdom Mr Turki Al-Shehri, it is expected to open up numerous employment opportunities.
By the end of year 2023, the country expects that solar energy would generate about 10% of its total required power.