FII: KSA aims to ‘be another Germany’ within the renewable energy sector

FII: KSA aims to ‘be another Germany’ within the renewable energy sector
Aramco, the Saudi energy giant, is leading the country's efforts in the field of blue hydrogen. (Aramco)
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Updated 31 January 2021

FII: KSA aims to ‘be another Germany’ within the renewable energy sector

FII: KSA aims to ‘be another Germany’ within the renewable energy sector
  • Saudi Arabia is working with many countries on green and blue hydrogen projects to capture and store carbon emissions

RIYADH: Saudi Arabia has ambitions to rival Germany within the field of renewable energy, and transform into a leader in hydrogen production, according to an article by Asharq.

"We will be another Germany when it comes to renewable energy sources," the Saudi Energy Minister, Prince Abdulaziz Bin Salman was quoted as saying. “We will be pioneers,” he told delegates at last week’s Future Investment Initiative (FII) forum in Riyadh.

Aramco, the Saudi energy giant, is leading the country's efforts in the field of blue hydrogen, while Pennsylvania-based Air Products & Chemicals, and Saudi Arabia's ACWA Power International, are building the world's largest plant to produce green hydrogen in the city of Neom on the Red Sea coast.

Crown Prince Mohammed Bin Salman explained at the FII conference that Saudi Arabia is working with many countries on green and blue hydrogen projects to capture and store carbon emissions.

As Saudi Arabia uses a lot of oil in its electric power plants, the Saudi Energy Minister stated that the kingdom intends to convert half of its electrical sector to depend on gas, while the other half will depend on renewable energy, the Asharq report said.

In a separate interview during the same conference, Prince Abdulaziz said that Saudi Arabia is not concerned about the impact of the recent coronavirus pandemic on oil demand.