Riyadh: The General Authority for Statistics (GASTAT) has unveiled its renewable energy statistics for 2024, highlighting significant advancements in the sector. According to the report, five newly commissioned solar energy projects have added a combined capacity of 3,751 megawatts to the grid.
According to Saudi Press Agency, by the end of 2024, the total number of commissioned renewable energy projects in the Kingdom reached 10. Among these, nine projects are solar-based, contributing a total capacity of 6,151 megawatts. Additionally, there is one wind energy project, which adds another 400 megawatts to the overall capacity.
The financial investment in these renewable energy initiatives has reached approximately SAR19.839 billion. Out of this, SAR18.264 billion was invested in solar energy projects, while SAR1.575 billion was directed towards the wind energy project.
The renewable energy projects are estimated to supply electricity to around 1,140,800 housing units. The Al Shuaiba 1 Solar Power project stands out for its efficiency, recording the lowest Levelized Cost of Energy (LCOE) in the Kingdom at 3.9 halala per kilowatt-hour. Other projects have LCOE values ranging from 3.9 to 11.18 halala per kilowatt-hour.
These statistics provide a comprehensive overview of the status of renewable energy in the Kingdom, with data sourced primarily from the Ministry of Energy, covering the period from 2019 to 2024.