Saudi Arabia will no longer build power generation plants without carbon-capture technology attached, Energy Minister Prince Abdulaziz bin Salman said on Monday.
The world's biggest crude oil producer plans to invest more than $266 billion to produce cleaner electricity and expand its power grid, he said.
"We are introducing over a trillion riyals' ($266 billion) worth of investment by 2030 to address our plans to achieve cleaner forms of electricity within the kingdom, as well as expanding and modernising the power transmission and distribution grid," he told an Aramco event.
The kingdom will double down on carbon capture solutions, as he said the country was "no longer going to build any future power generation without carbon capture".
"On the hydrogen front, we are determined to be the leading exporter, as well as availing clean hydrogen for local usage in heavy industries to produce green products."
Saudi Arabia is now looking to become a global leader in hydrogen production as it aims to achieve net-zero carbon emissions by 2060.
The target represents a huge leap for the Saudi Green Initiative — which aims to cut carbon dioxide emissions in the Middle East by 60 per cent, eliminate more than 130 million tonnes of carbon emissions using clean hydrocarbon technology, and for renewables to provide 50 per cent of Saudi Arabia's electricity by 2030.
The kingdom will join the Global Methane Pledge to contribute to the planned 30 per cent cut in emissions of the gas worldwide by 2030.
Saudi Power Procurement Co in September launched five schemes to produce electricity using renewable energy, with a total capacity of 3,300 megawatts, according to the Saudi Press Agency — three wind-energy and two solar projects.
Alongside the net-zero plan — in which the kingdom will rapidly expand already substantial investment in renewable energy — Saudi Arabia will work to restore, conserve and manage one billion hectares of land by 2040.
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Name: Dr Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
Kathryn Hawkes of House of Hawkes on being a good guest (because we’ve all had bad ones)
- Arrive with a thank you gift, or make sure you have one for your host by the time you leave.
- Offer to buy groceries, cook them a meal or take your hosts out for dinner.
- Help out around the house.
- Entertain yourself so that your hosts don’t feel that they constantly need to.
- Leave no trace of your stay – if you’ve borrowed a book, return it to where you found it.
- Offer to strip the bed before you go.
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Palestine and Israel - live updates
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Company profile
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Real estate tokenisation project
Dubai launched the pilot phase of its real estate tokenisation project last month.
The initiative focuses on converting real estate assets into digital tokens recorded on blockchain technology and helps in streamlining the process of buying, selling and investing, the Dubai Land Department said.
Dubai’s real estate tokenisation market is projected to reach Dh60 billion ($16.33 billion) by 2033, representing 7 per cent of the emirate’s total property transactions, according to the DLD.
Sole survivors
- Cecelia Crocker was on board Northwest Airlines Flight 255 in 1987 when it crashed in Detroit, killing 154 people, including her parents and brother. The plane had hit a light pole on take off
- George Lamson Jr, from Minnesota, was on a Galaxy Airlines flight that crashed in Reno in 1985, killing 68 people. His entire seat was launched out of the plane
- Bahia Bakari, then 12, survived when a Yemenia Airways flight crashed near the Comoros in 2009, killing 152. She was found clinging to wreckage after floating in the ocean for 13 hours.
- Jim Polehinke was the co-pilot and sole survivor of a 2006 Comair flight that crashed in Lexington, Kentucky, killing 49.