Saudi Arabia to invest $30-50bn in renewable energy by 2032

January 17, 2017

Jeddah, Jan 17: Saudi Arabia is launching a renewable energy program in the next few weeks that is expected to invest $30-$50 billion by 2032, Energy, Industry and Mineral Recourses Minister Khalid Al-Falih announced Monday.

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Al-Falih said at the World Future Energy Summit in Abu Dhabi that the Kingdom would start the first round of bidding for projects under the program, which would produce 10GW of power.

He also said that Saudi Arabia is in the early stages of studying its first two commercial nuclear reactors with a total of 2.8GW. Al-Falih told Reuters that, “there will be significant investment in nuclear energy.”

The minister also said Saudi Arabia was working on ways to connect its renewable energy projects with Yemen, Jordan and Egypt.

“We will connect to Africa to exchange non-fossil sources of energy,” he said.

The step falls into the country’s targets set in Vision 2030, launched last year to prepare for a post-oil era following a plunge in oil prices. Saudi Arabia, the world’s largest oil exporter, plans to reduce its reliance on oil and diversify the economy by moving toward sustainable sources rather than depending on fossil oil.

Renewable energy is listed among the sectors to be launched, as the Vision reads: “In the manufacturing sector, we will work toward localizing renewable energy and industrial equipment sectors.”

John Sfakianakis, director of economic research at the Riyadh-based Gulf Research Center, told Arab News that Saudi Arabia has a “considerable solar power potential” that can reduce its reliance on fossil fuels.

“Saudi Arabia wants to balance economic needs against environmental goals as it has considerable solar power potential and is eager to reduce its use of fossil fuels,” Sfakianakis said. “The country ranks high in per capita greenhouse gas CO2 emissions.”

Achieving the ambitious renewable energy program by 2032 needs time, technical knowledge and capacity, and above all coordination between various stakeholders, according to energy expert Mohamed Ramady.

“The fact that there are many stakeholders in Saudi Arabia involved in the renewable energy program, such as KACST, KACARE, KAPSARC and KAUST among others ensures some duplication of effort and above all lack of specific focus for renewables,” said Ramady, a former professor at King Fahd University of Petroleum and Minerals.

He told Arab News that whether the focus would be on solar or nuclear energy would determine the policy and would lead to different paths and options in terms of domestic and international cooperation.

“If nuclear energy option is the preferred option, then Saudi Arabia has to assess whether current leaders using such energy like France, South Korea and Finland are still committed to this renewable energy source in the long term and whether their technology transfer and nuclear waste programs can be safely transferred,” Ramady said.

Achieving a viable large-scale renewable energy application is not as easy as it sounds, according to Ramady.

“The United Arab Emirates’ (UAE) MASDAR renewable energy model city initiative was a path breaker with mixed success, but from which valuable lessons can be learned by Saudi Arabia,” he said. “However, in the meantime starting off by installing smart electricity household meters coupled with incentives to save energy could help to reduce pressure on the government in the face of potential lower oil prices and revenues.”

The Riyadh-based King Abdullah Center for Atomic and Renewable Energy (KACARE) stated that hydrocarbons would remain a prime element in the energy mix in 2032, by an estimation of 60GW. This will also be supported with nuclear energy at 17.6GW, solar at 41GW, of which 16GW will be generated through the use of photovoltaic cells and the balance of 25GW by concentrated solar power, wind at 9GW, waste-to-energy at 3GW and geothermal at 1GW.

Renewable energy is increasingly becoming a new sector in the country and is expected to expand until the new renewable energy program can reach its target by 2032.

“By creating an entirely new sector for the economy, jobs will be generated as it moves into more advanced areas of the production chain. Job creation for Saudis and a cleaner environment are important goals of Vision 2030 for better quality of life values,” said Sfakianakis.

According to the International Renewable Energy Agency (IRENA) report on renewable energy market analysis in the Gulf Council Countries (GCC) region, Saudi Arabia is the world’s seventh largest oil consumer. Domestic consumption of oil witnessed a surge in the 2000s rising from 17 percent in 2000 to 28 percent in 2014. The report, published in 2016, estimated that achieving the GCC renewable energy targets could create an average of 140,000 direct jobs per year.

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News Network
November 7,2024

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The Israeli regime has killed at least 40 people during new airstrikes against eastern Lebanese areas, besides targeting the country’s capital Beirut with fresh acts of aggression.

Lebanon’s health ministry announced the fatalities on Wednesday, saying 53 other people had also been wounded during the aerial attacks that targeted the country’s Bekaa Valley, including the city of Baalbek.

In early Thursday, the regime was also reported to have attacked Beirut’s southern suburbs, including a site adjacent to Rafiq Hariri International Airport.

The attacks came after the regime issued short-notice evacuation orders apparently directed at the residents of the areas, claiming that the areas contained facilities belonging to Lebanon’s Hezbollah resistance movement.

Tel Aviv has been using similar claims on countless occasions since last October, when it markedly intensified its deadly acts of aggression against Lebanon, in order to try to justify the escalation. Hezbollah has, however, invariably refuted the claims.

Also on Wednesday, the United Nations warned in its most recent flash report on the humanitarian crisis caused by the Israeli atrocities targeting Lebanon that the aggression had “reached a critical point.”

The attacks have claimed the lives of more than 3,000 people, which was “58 percent more than the 1,900 fatalities” that were caused by the regime’s 2006 war against Lebanon, the report said.

“Additionally, an estimated 1.3 million people have been displaced, both within Lebanon and into neighboring countries, 33 percent more than the number of people displaced in 2006,” it added.

Women comprised the majority of those who had been rendered homeless within Lebanon as a result of the Israeli attacks, the report noted.

It also regretted that the Israeli attacks had featured 78 assaults on healthcare facilities across the country that had claimed the lives of 130 health workers and injured 111 others.

In response to the aggression, Hezbollah has been staging hundreds of retaliatory strikes against the occupied Palestinian territories and the Israeli forces trying to advance on southern Lebanese areas.

The movement has vowed to sustain its strikes until the regime ends the escalation.

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News Network
November 13,2024

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Beirut: The Israeli army on Tuesday continued to launch attacks against civilians in Lebanon, targeting them in several areas without prior evacuation warnings.

However, 13 airstrikes on Beirut’s southern suburbs in the space of only three hours were preceded by evacuation warnings.

The attacks caused no injuries but resulted in widespread destruction of residential buildings and commercial, medical and educational centers.

The airstrikes in southern Lebanon and Bekaa region, reaching Akkar in Lebanon’s far north, erased any hope of a near-term ceasefire settlement.

The strikes were accompanied by an announcement on Israel’s Channel 14 that “the Israeli army has expanded its operations in southern Lebanon to areas it had not reached since the beginning of the ground operation.”

About 50 days have passed since Israel intensified its hostile operations in Lebanon targeting Hezbollah. The death toll from these confrontations and attacks has passed 3,200, with more than 14,000 wounded.

For the first time, an airstrike targeted a mountainous area between Baalchmay and Aabadiyeh on the road leading to Aley, destroying a building housing displaced people.

The mayor of Baalchmay, Adham Al-Danaf, confirmed that “the airstrike targeted a residential building in the Dhour Aabadiyeh area.”

The initial toll from the Ministry of Health showed “five people killed and two injured.”

The raids that targeted Beirut’s southern suburbs for the first time in the morning, unlike nightly raids before, caused huge destruction. Those who evacuated their homes after Israeli warnings, used their phones to record the collapse of empty buildings in Sfeir, Haret Hreik, Bir Al-Abed, Mrayjeh, Laylaki and Hadath.

Israeli warplanes also targeted Tyre, where a strike on a building killed three people and injured many others, while a raid on Tefahta killed a man identified as Kifah Khalil and his family.

Attacks were widespread, with Yater and Zebqine subject to artillery shelling, a civilian being killed in Hermel, and further attacks on Bouday and an area between the towns of Srifa and Arsoun.

A raid on the town of Siddiqin killed two people and injured several others, while an attack on the Mechref farm led to one fatality and multiple injuries.

The search for those missing after an Israeli raid on the town of Ain Yaacoub in Akkar, in the northernmost part of Lebanon, continued until dawn.

During the operation, 14 bodies were retrieved, identified as those of residents displaced from the town of Arabsalim in the Iqlim Al-Tuffah area of the south, along with members of a Syrian family, a mother and three of her children. Additionally, there were 10 people in critical condition.

The targeted residence belongs to a Lebanese citizen, Hussein Hashim, who is reported to be a member of the Syrian Social Nationalist Party.

An airstrike on the town of Saksakiyeh in the Sidon region on Monday night resulted in yet another tragedy.

It appeared that the intended target was the Shoumer family, who just days before lost Hussein Amin Shoumer and his two sisters in a drone strike near Al-Awali River.

Israeli army spokesperson Avichay Adraee issued additional evacuation warnings for towns in the southern region along the Litani River, which, according to estimates from the mayors, are currently 90 percent uninhabited.

In the meantime, Hezbollah announced its continued efforts to “combat the intrusions of Israeli forces and to strike military installations and towns in the north.”

Hezbollah said in a statement that it confronted “an Israeli Hermes 450 drone in the airspace of Nabatieh and forced it to leave Lebanese airspace.”

The party also announced that it targeted “Kfar Blum settlement with a rocket salvo.”

On the Israeli side, air raid sirens sounded in areas of Upper and Western Galilee and in the town of Kiryat Shmona and its surroundings.

The Israeli army confirmed that “a drone exploded in Nesher, east of Haifa, without activating the air raid sirens,” and that “a drone launched from Lebanon crashed into a school in Gesher HaZiv, north of Nahariya.”

Israel’s Channel 13 reported the Israeli military’s assessment regarding Hezbollah’s military strength, claiming that the group currently possesses approximately 100 precision missiles, thousands of artillery shells, and hundreds of rockets. Additionally, it was highlighted that “there are around 200 Lebanese towns that remain unvisited.”

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News Network
November 10,2024

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The media office in the Gaza Strip, where the Israeli regime has been waging a genocidal war since last October, says as many as 188 Palestinian journalists have been killed since the onset of the brutal military onslaught.

The office provided the figure on Saturday, naming four journalists as the most recent victims of the onslaught.

It identified the foursome as Zahraa Mohammad Abu Sukheil, Ahmad Mohammad Abu Sukheil, Mustafa Khadr Bahar, and Abdel Rahman Khadr Bahar.

The office said it “strongly condemns the targeting, killing, and assassination of Palestinian journalists by the Israeli occupation and holds it fully responsible for committing this heinous crime.”

“We call on the international community, international organizations, and those involved in journalistic work worldwide to take action against the occupation, pursue it in international courts for its ongoing crimes, and pressure it to halt the genocide and the targeted killings of Palestinian journalists,” it said.

Earlier in the day, the office said the Israeli regime had bombed the tents sheltering journalists and displaced persons at the al-Aqsa Martyrs' Hospital in the city of Deir al-Balah in central Gaza for the ninth consecutive time.

The atrocity that claimed the lives of two people and injured 26 others came as part of “the genocidal crimes committed by the Israeli occupation army against hospitals, civilians, and displaced persons,” it said.

The media office held the regime and the United States, its biggest ally, as well as other countries aiding the genocide fully responsible for such systematic crimes.

At least 43,552 Palestinians, mostly women and children, have been killed and 102,765 others wounded since the launch of the war that followed a retaliatory operation by Gaza’s resistance groups.

The fatalities include 44 people, who were killed across the coastal sliver, in the most recent phase of the military onslaught.

As many as 24 of the victims were killed in the northern part of the territory, where the regime has markedly intensified its deadly attacks for weeks.

They included an eight-year-old child and a five-year-old one, who lost their lives after Israeli warplanes targeted a group of minors filling up jerry cans with water alongside their mother at the Jabalia Refugee camp.

Gaza’s heath ministry, meanwhile, said a number of victims remained under the rubble and in the streets following Israeli airstrikes, saying ambulances and civil defense teams could not reach them due to the sheer extent of the destruction caused by the raids and obstruction caused by the regime.

Also on Saturday, the Integrated Food Security Phase Classification (IPC) report, a United Nations-backed assessment, warned that famine was looming in northern Gaza amid escalated Israeli aggression and the regime’s near-total siege of the targeted areas.

The alert from the Famine Review Committee warned of "an imminent and substantial likelihood of famine occurring, due to the rapidly deteriorating situation in the Gaza Strip."

On October 17, the body projected that the number of people in Gaza facing "catastrophic" food insecurity between November and April 2025 would reach 345,000, or 16 percent of the population.

The IPC report classified that figure as Phase 5 -- a situation when "starvation, death, destitution, and extremely critical acute malnutrition levels are evident."

The Israeli military, however, questioned the report's credibility.

"To date, all assessments by the IPC have proven incorrect and inconsistent with the situation on the ground," the army said in a statement, denouncing "partial, biased data and superficial sources with vested interests."

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