Renewable energies now play a central role in Saudi Arabia’s economic diversification strategy, according to a recent report by PricewaterhouseCoopers (PwC), an international network specializing in auditing, consulting, and accounting expertise.
The report reveals that the Kingdom aims to achieve a renewable energy production capacity of 130 GW by 2030. At the same time, it is heavily investing in the electric vehicle industry, with a production target of 150,000 units by 2026 and 500,000 by 2030.
“The development of renewable energy projects, the focus on high-tech industries, and the commitment to sustainability demonstrate the Kingdom’s determination to meet its national objectives and play a key role in the global energy transition,” said Riyadh Al Najjar, president of PwC Middle East.
The International Monetary Fund (IMF) anticipates a 4.4% growth in Saudi Arabia’s non-oil economy by 2025, driven by the launch of major infrastructure projects such as the Riyadh metro and Red Sea resorts. These initiatives mark an important milestone in the post-Covid-19 era and contribute to strengthening the Kingdom’s diversified economy.