Saudi Arabia is on track to access green energy at competitive prices thanks to agreements signed by the Kingdom’s National Industrial Development and Logistics Program.
According to Al-Ekhbariya, Minister of Industry and Mineral Resources Bandar Alkhorayef, speaking at the NIDLP annual ceremony, explained that the program acquired five new renewable energy projects to ensure reasonable costs.
This falls in line with the Kingdom’s goal of deriving half of its energy mix from renewable sources by 2030.
“NIDLP signed agreements to purchase five new renewable energy projects that will produce energy at competitive prices,” Alkhorayef said. He added: “NIDLP program built integrated equipment in the ministries capable of implementing projects.”
The minister went on to say that the program also adopted the first natural gas storage project in the Kingdom.
In addition, it contributed to the crown prince’s launch of four economic zones and 59 logistical plans to develop infrastructure, Alkhorayef highlighted.
The minister also noted: “The nation’s young men and women are a milestone in the maturity of government systems and are capable of turning dreams into reality.” He added: “The maturity of the executive bodies is the real guarantee of the sustainability of the sectors and the achievement of the nation’s aspirations.”
Also speaking at the same event, Saudi Arabia’s Minister of Transport and Logistics Sector Saleh Al-Jasser reiterated: “In cooperation with NIDLP, we are continuing to achieve the national transport strategy.”
In addition, the CEO of NIDLP, Suliman Al-Mazroua — who was also present at the event — shed light on the program’s executive performance during 2023.
“The program’s executive performance increased to 87 percent and by more than 17 degrees since the beginning of the year,” Al-Mazroua disclosed.—AN
