Monday, 14 July 2025

Investment volume in renewable energy projects operating in the Kingdom hit SAR 19.8 billion until the end of 2024

The Renewable Energy Statistics Bulletin showed that the number of projects operating in 2024 amounted to five solar energy projects with a total capacity of 3,751 megawatts. The total number of renewable energy projects operating in the Kingdom from the start of construction until the end of 2024 amounted to ten projects, nine of which were solar projects with a total capacity of 6,151 megawatts, and one wind energy project with a total capacity of 400 megawatts.

According to the results of the bulletin issued by the General Authority for Statistics, the total investment volume in renewable energy projects operating in the Kingdom until the end of 2024 amounted to approximately SAR 19 billion and 839 million. Investment in solar energy projects amounted to SAR 18 billion and 264 million, while investment in wind energy projects amounted to SAR 1 billion and 575 million. The bulletin’s results indicated that the total number of residential units estimated to be supplied with electricity from renewable energy projects operating until the end of 2024 amounted to approximately 1,140,800 residential units.

The results of the 2024 Renewable Energy Statistics Bulletin revealed that the Shuaiba 1 Solar Energy Project recorded the lowest cost of purchasing energy in the Kingdom, at 3.9 Saudi halalas per kilowatt-hour, compared to the cost of purchasing energy in other renewable energy projects, which ranged from 3.9 to 11.18 Saudi halalas per kilowatt-hour.

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It’s worth noting that the Renewable Energy Statistics present data on renewable energy in the Kingdom of Saudi Arabia. The Ministry of Energy is the primary source of data, and the data is available in a time series for the period (2019-2024).

 

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