British Expertise International – Middle East Access Group & Saudi British Joint Business Council hosted a Business Briefing on Tuesday 14 May that discussed the potential opportunities for British business in the renewables sector in Saudi Arabia. It followed DIT & SBJBC’s Renewable Energy Trade Mission to Riyadh in March.
Energy is a key element in Saudi Arabia’s 2030 Vision and there have been wide reaching reforms and announcements within the sector. These include energy tariff reform; energy sector privatisation and the development of a National Renewable Energy Programme; which is to be over seen by the Renewable Energy Project Development Office (REPDO).
There is a large and developing market for energy generation (both utility and small scale), energy storage, electrical networks and management, with multibillion-dollar investment programmes planned.
Recent announcements include the production of 59 gigawatts (GW) of electricity from solar and wind by 2030 and eventually to produce upward of 200 GW.
The briefing included panellists with a range of experience within the renewables sector.