The kingdom aims to invest $109 billion in solar energy to produce 41GW of solar power by 2032. This energy would meet 30% of the country’s needs at that time. The development plan for the next two decades includes two photovoltaic projects of 16GW and organic solar cell projects of 36GW.
Despite this institutional support, the business world is still reluctant to invest in renewable energy in Saudi Arabia. The main complaint is the lack of a regulatory framework for the electricity sector, which might create the necessary stability to encourage investment.
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