Saudi Arabia has 79 GW of renewables under development: Energy Minister

Prince Abdulaziz bin Salman, Minister of Energy and Minister of Industry and Mineral Resources, said Saudi Arabia has approximately 79 gigawatts (GW) of renewable energy projects under development.

The Kingdom is targeting carbon capture and storage capacity of 44 million tons per year over the next decade, alongside its role in providing reliable and affordable energy supplies, he added.

Speaking at the United Nations Climate Change Conference, he said Saudi Arabia believes that what unites countries is the shared goal of reducing emissions, not necessarily following the same pathway.

The objective is to reduce emissions regardless of their source by leveraging all available solutions and technologies, he added.

Prince Abdulaziz noted that expanding electricity use does not necessarily lower emissions unless the sources of electricity generation are also considered.

He stressed the importance of giving countries the flexibility to choose pathways that suit their national circumstances and development priorities, while maintaining energy security and supporting economic growth.

The minister said current geopolitical developments have validated Saudi Arabia's warnings over the past years that pursuing net-zero emissions without accounting for energy security requirements could undermine energy security itself.

Addressing global climate challenges requires broad international cooperation rather than unilateral measures that could restrict trade or limit countries' development options, he said.

The minister also highlighted the importance of multilateral cooperation and maintaining an open international economic system that supports development and ensures a just transition towards a low-emissions future.

Saudi Arabia has translated these principles into practical measures through a balanced approach that combines emissions reduction, energy security and sustainable development, based on the Circular Carbon Economy (CCE) concept the Kingdom introduced during its G20 presidency in 2020, Prince Abdulaziz explained.

The minister reaffirmed Saudi Arabia's commitment to the United Nations Framework Convention on UNFCCC and the Paris Agreement, stressing that successful climate action cannot be achieved by imposing a single pathway on all countries.

Instead, it requires delivering shared outcomes through multiple pathways that account for different national circumstances, protect the climate and support sustainable development, he stated.