Saudi Arabia stands second globally on total proved oil reserves and sixth on total proved natural gas reserves as of year-end 2014. Demand for energy is increasing due to the growth in population and accelerated usage of desalinated water and low-priced electricity.
In 2012, King Abdullah City for Atomic and Renewable Energy (KA-CARE) announced plans to launch a Renewable Energy Programme (REP) with a target of generating 54 GW by 2032, comprising 25 GW Concentrated Solar Power (CSP), 16 GW Solar Photovoltaic (PV), 9 GW wind, 3 GW waste-to-energy, and 1 GW from geothermal sources. However, in January 2015, it postponed the targets until 2040 due to falling global oil prices. This has come as a setback for investors who had big plans to invest in the fledgling renewable power industry.
In August 2015, KA-CARE launched Saudi Arabia's Renewable Resource Atlas and registered the Atlas logo as a commercial trademark with the Office of Commercial Trade Marks of the Ministry of Trade. The Atlas focuses on solar resources and provides limited information on wind. Annual average wind speeds are reported at 6.0-8.0 meters per second (m/s). Higher wind speeds of 8.0 m/s and above occur in the northeast and central regions, as well as near mountains in the west.
Under the Wind Energy Resources Measurement Project, KA-CARE identified 40 sites throughout Saudi Arabia ideal for future wind farms. Masts were installed at K.A.CARE City Site Northwest (A), K.A.CARE City Site East (B), Hafar Al Batin, Yanbu (North-1), and Sharurah. Data from these monitoring masts are recorded in the Atlas.
- The report includes an update on wind power regulatory framework, upcoming projects and major investment trends in the wind sector.
Reasons to buy
- The report gives an update on the country's wind energy sector.
- Gain insights into the country's wind power policies and regulations
- Identify investment opportunities through upcoming wind energy projects