Energy Transition Plan
The Energy Transition Plan, drafted in 2023, serves as a roadmap for transitioning from fossil fuels to more sustainable energy sources. It emphasizes the importance of supply security, diversification of energy sources, decarbonization, and cost optimization through enhanced efficiency in power production.
Key Project Facts:
The kingdom demand is expected to reach 28 TWh by 2040, which is more than 40% over the demand of 2023. The plan aims to reduce the natural gas consumption by more than 30% by 2040, and to meet more than 45% of the energy demand from clean sources.
Project Objectives:
Reduce carbon emissions with 5% by 2025, increase renewable energy sources, decarbonization, supply security by diversification, and cost optimization.
Overview
The plan outlines a transition from fossil fuels to sustainable energy, emphasizing supply security, diversification, decarbonization, and cost optimization.
Timeline and Vision
Finalised in November 2023, the plan projects electricity demand and capacity requirements through 2040, setting a vision for a sustainable energy future.
