Saudi Arabia, a country that has been dependent on oil for several decades, is spearheading the energy transition mission in the Middle East region.
Saudi Green Initiative and the wider Middle East Green Initiative are revolutionizing the entire green journey in the region, and they are adequately supported by the Public Investment Fund’s Regional Voluntary Carbon Market Co.
Saudi Arabia is steadily progressing with greater energy efficiency and resilience, in line with the goals outlined in Vision 2030.
Saudi Arabia accounts today for the largest share of global oil exports and it has the potential to become a significant exporter of clean, reliable and affordable energy in the future.
Saudi Arabia’s ACWA Power and its partners are working steadily in NEOM to complete the construction of the world’s largest green hydrogen project.
The whole region needs to move forward in all aspects of the transition and how the transition affects the energy-water-food-security-economy nexus.
Countries in the Middle East could promote investments to scale the supply of carbon capture, utilization and storage technologies along with low-carbon hydrogen and ammonia.
The energy transition in the region is creating an opportunity to innovate, which includes creating a startup ecosystem for clean technologies.
To move to large-scale deployment of renewables, countries would also need to invest in grid stabilization and storage to ensure the reliability of supply and integrate renewables into existing systems.