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Saudi Arabia more than doubles solar capacity to 6.1 GW in 2024

Renewables Now · last updated

By the end of the year, the Kingdom had ten operational renewable energy plants with a total capacity of 6,551 MW. These included nine solar parks and one wind farm with a capacity of 400 MW, the authority said in its 2024 Renewable Energy Statistics Bulletin released on Monday.

Renewables supplied electricity to around 1.14 million residential units across the country by year-end.

The report also noted that the Shuaiba 1 Solar Energy Project achieved the Kingdom’s lowest energy purchase cost at SAR 0.039 (USD 0.0104/EUR 0.0091) per kilowatt-hour. Costs for other renewables projects ranged between SAR 0.039 and SAR 0.1118/kWh.

Total investment in commissioned renewable energy projects reached around SAR 19.8 billion (USD 5.3bn/EUR 4.52bn), including SAR 18.3 billion in solar and SAR 1.6 billion in wind.

Solar energy is developing rapidly in Saudi Arabia as it aims to boost the share of renewables in its electricity mix to 50% by 2030. Most recently, a consortium led by Riyadh-based developer ACWA Power was awarded seven solar and wind projects with a combined capacity of 15 GW. The plants are slated for commissioning in 2027 and 2028.

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