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Major Saudi renewable energy strategy in the making

Plan also seeks to raise efficiency of using traditional sources of power and slash the impact on the environment.

Several Saudi government bodies are devising a major and long-term strategy to launch renewable energy projects to desalinate seawater and generate electricity.

A study is underway to estimate the kingdom’s future needs for water and energy, and come up with a plan to introduce a highly energy-efficient plan to produce desalinated water and generate electric power.

The plan also seeks to raise the efficiency of using traditional sources of power and slash the impact on the environment, in addition to the introduction of nuclear energy and various forms of clean and renewable power sources, Al-Eqtisadiah reports.

It will also explore the best means and technologies to cut the cost of generating electric power using conventional fuel.

In a later stage of the strategy, the kingdom’s electric power will be liberalised to attract local and foreign investments to this key sector to boost competitiveness and production alike.

According to government figures, the nation’s current oil consumption stands at 4.2 million barrels per day, and it is forecast to surge to 9.5m by 2035.