NEW YORK, Oct. 19, 2016 /PRNewswire/ -- Includes 3 FREE quarterly updates
We maintain a conservative growth outlook for the Saudi Arabian renewables sector relative to the government's plans and we do not expect the country to meet its 2020 and 2030 renewables targets. Stringent local content requirements, lack of domestic expertise and the absence of a structured procurement scheme for renewables projects will see the sector growing only slowly over the next 10 years.
Latest Updates And Structural Trends
- As a follow-up to its 'Vision 2030' reform plan - which mandates 9.5GW of renewables to be installed in the kingdom - the Saudi Arabian government has released the National Transformation Program 2020 (NTP). The NTP sets an interim target of 3,450MW of non-hydro renewables capacity to be installed in Saudi Arabia by 2020; moreover, it mandates that renewable energy account for 4% of the country's total energy use by the same year.
The renewables sectors covered in the report include Wind, Solar, Geothermal, Tidal and Wave, and Biomass (See Table of Contents for exact coverage). The report also features details on government green energy agendas and funding opportunities, as well as presenting a detailed list of key renewables projects currently being planned or undertaken in Saudi Arabia, their capacity, the timeframe of construction and their current status.
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