The General Authority for Statistics (GASTAT) has published its renewable energy statistics for 2024, indicating that five solar energy projects were commissioned, boasting a combined capacity of 3,751 megawatts. By the end of 2024, the total number of commissioned renewable energy projects reached 10, with nine being solar energy projects contributing a total capacity of 6,151 megawatts, alongside one wind energy project with a capacity of 400 megawatts.
Additionally, the total investment in renewable energy projects amounted to approximately SAR19.839 billion ($5.3 billion). This figure includes SAR18.264 billion invested in solar energy projects and SAR1.575 billion dedicated to the wind energy project. The number of housing units expected to receive electricity from renewable energy sources reached 1,140,800.
The Al Shuaiba 1 Solar Power project achieved the lowest Levelized Cost of Energy (LCOE) in the Kingdom at 3.9 halala per kilowatt-hour. The LCOE values for other renewable energy projects varied between 3.9 and 11.18 halala per kilowatt-hour. The renewable energy statistics offer insights into the sector in the Kingdom, primarily sourced from the Ministry of Energy and presented as a time series covering 2019 to 2024.
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New agreements target energy efficiency and emission reduction
In June 2025, Saudi Arabia initiated the Geographic Survey Project for Renewable Energy sites, as reported by the Saudi Press Agency (SPA). The Kingdom awarded contracts to local companies to set up 1,200 stations for measuring solar and wind energy across all regions of the country.
In April 2025, Saudi Arabia and Mauritania signed a memorandum of understanding (MoU) aimed at enhancing cooperation in electricity, renewable energy, and clean hydrogen.
In January 2025, Saudi Arabia and Italy finalized an agreement focusing on collaboration in several essential areas, including energy transitions and security, renewable energy, and electricity interconnection. The agreement also addresses energy efficiency, geothermal energy, and the reduction of methane emissions. Furthermore, the MoU seeks to promote advancements in energy storage solutions, covering petroleum, natural gas, and both conventional and transitional fuels.
In December 2023, Saudi minister of energy Prince Abdulaziz bin Salman announced that the Kingdom is aiming to produce 130 gigawatts (GW) of renewable energy by 2030. It will do this by producing an additional 20 gigawatts of renewable energy annually.
