Thursday 19 backend.Sep
Saudi Arabia's Energy Minister, Prince Abdulaziz bin Salman, has highlighted the challenges and opportunities facing the Kingdom's transition to green energy.
The transition to green energy faces several challenges,
including lack of clear policies, inadequate incentives, shortage of production
and development requirements.
The minister emphasized the need for regulations and
incentives to support the adoption of clean energy.
Speaking at the World Economic Forum's special meeting on
"Global Cooperation, Growth, and Energy for Development," he added
that the Kingdom aims to become a global energy provider, offering diverse
sources, including hydrogen and nuclear.
The Kingdom faced another challenge, which is carbon capture
and storage. Currently, the Kingdom has a facility that handles 5.1 million
tons of carbon. He indicated that they “are open to cooperation and partnership
with all countries of the world in the field of providing green energy."
The meeting is being held over two days in the Saudi
capital, Riyadh, under the theme "International Cooperation, Growth, and
Energy for Development."
Saudi Finance Minister Mohamed El Gadaan affirmed that countries
must be agile in adapting their economic strategies to navigate dynamic global
landscapes. He highlighted the significance of 'Vision 2030,' which provides
investors with a clear and stable vision."
