The Kingdom of Saudi Arabia is well pleased with having priority and being at the center of leadership, especially if it is related to the energy sector only.
The Kingdom is today the largest oil exporter and is keen to provide energy to the world at the best prices that satisfy both consumers and producers.
For this, it allocates billions of riyals to promote oil exploration and production projects in quantities that meet the world needs.
When the developed countries kicked off the journey to search for new sources of energy, in anticipation of the depletion of oil in the future, the Kingdom has been keen to share with these countries their dreams and aspirations in the search for clean and renewable energy in the sources of nature such as wind, sun, wave motion and others.
Today, the Kingdom is making a new significant progress in the Dumat al-Jundal wind power plant project with a global competitive price of 1.99 cents / kw, a mater which reflects the confidence of local and international investors in the Kingdom's potential as a center for developing the renewable energy projects.
The new Saudi achievement is quite reassuring. It is not only limited to achieve an unprecedented global price in the wind energy production, but it also sends an important message that the Kingdom is moving strongly in the renewable energy production sector and will spearhead the promotion of projects in this sector professionally.
As the Kingdom spearheads the production of fossil energy, it will also have the same position in the production of all types of clean and renewable energy.
It possesses the financial and human resources that help it achieve what it seeks, armed with Vision 2030 and its many objectives related to the promotion of the clean energy production by adding 9.5 gw of renewable energy to domestic production by 2023 as a first step.
It also aims to indigenize a large proportion of the renewable energy value chain in the national economy, including steps of exploration, development, manufacturing and others.
The Kingdom's success in producing renewable energy in commercial quantities and then exporting it, as in the case of fossil oil, is not impossible, especially since the Kingdom has all the ingredients that help it achieve and enhance this success, from inputs such as silica and petrochemicals, to the strong experience of the Saudi companies in the production of various forms of energy.
Hence, Vision 2030 recommended a legal and regulatory framework that allows the private sector to own and invest in the renewable energy sector, and provides the necessary funding through public-private partnerships. This is what we can see today and will pick its desired fruits tomorrow.