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- The kingdom, which is one of the world’s largest oil producers, estimates its local energy consumption will increase three-fold by 2030. To build up its renewable energy sector, the crown prince has outlined an initial target of generating 9.5 gigawatts of renewable energy in his “Vision 2030” plan, which is a blueprint of mostly economic targets aimed at creating more jobs for the country’s majority young population entering the workforce in the coming years and diversifying the economy away from its reliance on oil exports for revenue.
The solar panels for the project will be imported at first, but will later include a panel manufacturing and assembly site, according to Son. Construction on the project begins immediately, and electricity generation will start next year, he told reporters.
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