The Kingdom is keen to be the leader in securing all forms of energy to the world. Just as it exerts efforts to secure the energy produced by fossil oil at satisfactory prices for all, it exerts similar relentless efforts to secure renewable energy from its various sources with the same specifications, in true participation with the aspirations of the world to find new and permanent sources of energy, in anticipation of the depletion of oil few decades later, as scientific research indicates. This confirms the Kingdom's determination to be the world's first and safe supplier of energy, whether produced by oil or renewable energy sources.
The Kingdom's efforts in the renewable energy projects are continuing at an escalating and reassuring pace. They receive unusual attention from official authorities.
These efforts have grown in conjunction with the announcement of Vision 2030, which stressed the importance of the energy sector, in strengthening the Kingdom's economy and increasing the national income.
These efforts were crowned with the National Renewable Energy Program, which is a strategic initiative launched under Vision 2030 umbrella, with the aim to maximize the Kingdom's share in renewable energy production.
During 2019, and the few early weeks of 2020, the Kingdom has launched 10 titanic projects in the renewable energy sector, with a total capacity of 2,670 megawatts, a matter that indicates the aspirations and goals of the ambitious vision that seek to make the Kingdom the first energy country in the world.
We should not forget the Kingdom's natural resources that allow it to take advantage of the tremendous opportunities in the renewable energy sector.
This is by the testimony of specialized international bodies affirming that the Kingdom has promising growth opportunities through its natural resources, the first of which is solar and wind energies.
The Kingdom also enjoys availability of lands and sovereign credit with a high degree of safety. This scene makes the Kingdom a world leader in the field of renewable electricity generation.
Although the global progress with regard to the low costs of renewable energy production is relatively modest, the Kingdom has succeeded in what the majority failed, and presented projects in which it set a world record for the lowest tariff for solar Photovoltaic (PV) projects outside Latin America (8.7 halalas per kilowatt\ hour, as represented by the Sakaka Solar Project, and 7.4 halalas per kilowatt\ hour in the Middle East and North Africa region in the Dumat Al-Jandal Wind Project.
The Ministry of Energy is adopting a program to develop renewable energy projects with advanced mechanisms. The Ministry is now developing more than 35 sites distributed throughout the Kingdom, including solar, wind and concentrated solar energy, and completing its infrastructure by 2030, and tomorrow the Kingdom will reap the benefits of these efforts.