Please Wait.....
Report
Saudi Arabia Renewable Energy - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts (2025 - 2030)
Market Report I 2025-04-28 I 95 Pages I Mordor Intelligence
The Saudi Arabia Renewable Energy Market size is estimated at 10.27 gigawatt in 2025, and is expected to reach 29.27 gigawatt by 2030, at a CAGR of 23.3% during the forecast period (2025-2030).
Over the medium term, factors such as favorable government policies for the renewable energy sector are expected to drive the market.
On the other hand, as electricity demand proliferates, Saudi Arabia is likely to upgrade its energy production capabilities. As the country phases out older and more polluting diesel-fired generators, natural gas provides the perfect alternative for power generation. Due to this, as a part of Vision 2030, natural gas is expected to account for nearly 50% of the primary energy mix. Hence, the rising consumption of natural gas is expected to be a major factor restraining the growth of the country's renewable energy market.
Nevertheless, Saudi Arabia does not have a domestic power generation company with expertise in the renewable energy sector, but it has a very large potential for solar power generation. The privatization of the power industry has allowed foreign companies, particularly from China and Europe, who have substantial experience with solar energy, to develop solar power plants, hence creating ample opportunities for the market players in Saudi Arabia.
Saudi Arabia Renewable Energy Market Trends
Solar Energy to Dominate the Market
- Saudi Arabia is naturally endowed with renewable energy sources, particularly solar energy. The country lies in the middle of the "sun belt" and receives an average of 8.9 hr/day of sunshine and an average horizontal solar radiation of 5,600 Wh/m2. The solar irradiation in the country is 250 w/m2, which is above the average irradiation of high-potential solar areas globally of 100-200 w/m2. The country's capital, Riyadh, has an average of 3,230 sunshine hours yearly, which is the condition of the entire landscape. This creates a massive potential for solar power generation.?
- Under Vision 2030, more than 35 solar and wind energy farms are expected to be developed in the country by 2030. The Renewable Energy Project Development Office (REPDO) within the Ministry of Energy, established in 2017, is responsible for delivering on the goals of the National Renewable Energy Program (NREP) in line with Vision 2030.
- The government of Saudi Arabia is actively working to scale renewable energy projects, where solar energy technology installation is expected to lead. The NREP plans to develop 40 GW of solar energy by 2030 out of 58.7 GW of renewable energy projects by 2030. Solar energy generation has witnessed an increasing trend in recent years. According to the International Renewable Energy Agency (IRENA), the country's solar energy installed capacity stood at 2,285 MW in 2023, about threefold higher than the previous year.
- The country has been actively developing its renewable energy capacity with many large-scale solar projects. For instance, in February 2024, The Saudi Power Procurement Company (SPPC) disclosed the qualified bidders for the fifth round of 3.7 GW solar projects under the National Renewable Energy Programme (NREP) in Saudi Arabia, including various significant renewables developers. Further, the SPPC announced that EDF Renouvelables, Masdar, Itochu Corporation, Total Energies Renewables, and Saudi Electricity Company were among the companies that won the bid.
- Hence, based on the factors mentioned above, the solar energy segment is expected to dominate the renewable energy market in Saudi Arabia during the forecast period.
Supportive Government Policies and Incentives Driving the Adoption of Renewable Energy
- To revitalize and diversify the economy and reduce overreliance on fossil fuel exports, the country's government has decided to invest heavily in its Vision 2030, launched in 2016. Vision 2030 is a comprehensive strategic transformation roadmap consisting of financial, social, and environmental targets set by the Saudi government to invest and develop various nascent sectors, such as tourism and renewable energy, sustainably to improve the financial situation and the quality of life of the average Saudi citizen.
- Following its Vision 2030, the country has created several government-led schemes and plans to achieve its ambitious targets. It aims to reduce centralized control over different industrial sectors by encouraging private investments and fostering open competition in the market.
- To achieve this target, the country plans to install nearly 58.7 GW of renewable energy capacity by 2030. The sector is being developed as per the Kingdom's ambitious National Renewable Energy Programme (NREP), developed by the Renewable Energy Project Development Office (REPDO), the clean energy arm of the Saudi Ministry of Energy, Industry, and Mineral Resources. REPDO would be responsible for realizing this ambitious target and overseeing the development of 30% of this target through competitive tendering. In comparison, the remaining 70% will be developed by the Saudi Government's Public Investment Fund (PIF) through direct negotiation with developers.
- According to the International Renewable Energy Agency (IRENA), Saudi Arabia had a total renewable energy installed capacity of 2689 MW in 2023, about a threefold increase from the previous year.
- Such instances provide ample evidence that the Saudi government is working together at an institutional level to encourage the adoption of renewable sources and attract foreign investments in the domestic renewable energy market. The helpful government policies and economic incentives are expected to be one of the most significant factors driving the market during the forecast period.
Saudi Arabia Renewable Energy Industry Overview
The Saudi Arabian renewable energy market is moderately fragmented in nature. Some of the major players in the market (in no particular order) include ACWA Power, Alfanar Group, Abu Dhabi Future Energy Company (Masdar), Electricite de France SA, and Engie SA, among others.
Additional Benefits:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
1 INTRODUCTION
1.1 Scope of the Study
1.2 Market Definition
1.3 Study Assumptions
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET OVERVIEW
4.1 Introduction
4.2 Renewable Energy Mix, 2023
4.3 Renewable Energy Installed Capacity and Forecast in GW, till 2029
4.4 Recent Trends and Developments
4.5 Government Policies and Regulations
4.6 Market Dynamics
4.6.1 Market Drivers
4.6.1.1 Supportive Government Policies and Incentives
4.6.1.2 Rising Demand for Water and Renewable-Powered Desalination
4.6.2 Market Restraints
4.6.2.1 Rising Natural Gas Consumption for Power Generation
4.7 Supply Chain Analysis
4.8 PESTLE Analysis
5 MARKET SEGMENTATION
5.1 By Type
5.1.1 Solar
5.1.2 Wind
5.1.3 Other Types (Hydro, Biomass, etc.)
6 COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Strategies Adopted by Leading Players
6.3 Company Profiles
6.3.1 ACWA Power
6.3.2 Alfanar Energy
6.3.3 Abu Dhabi Future Energy Company (Masdar)
6.3.4 Electricite de France SA
6.3.5 Engie SA
6.3.6 Enel SpA
6.3.7 Vestas Wind Systems A/S
6.3.8 EDF Renewables
6.3.9 ABU DHABI FUTURE ENERGY COMPANY PJSC
6.3.10 Nesma Holding Co. Ltd
6.4 Market Ranking/Share Analysis
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Development of Hybrid Renewable Energy Systems
- Not Sure / Need Reassuring
- Confirm Content
-
Content is provided by our partners and every effort is made to make Market Report details as clear as possible. If you are not sure the exact content you require is included in this study you can Contact us to double check. To do this you can:
Use the ‘? ASK A QUESTION’ below the license / prices and to the right of this box. This will come directly to our team who will work on dealing with your request as soon as possible.
Write to directly on support@scotts-international.com with details. Please include as much information as possible including the name of report or link so our staff will be able to work on you request.
Telephone us directly on 0048 603 394 346 and an experienced member of team will be on hand to answer.
-
- Sample Pages
-
With the vast majority of our partners we can obtain Sample Pages to support your decision. This is something we can arrange without revealing your personal details.
It is important to note that we will not be able to provide you the exact data or statistics such as Market Size and Forecasts. Sample pages usually confirm the layout or the Categories included in Charts and Graphs, excluding specific data.
To ask for Sample Pages by contact us through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
-
- Check for Alternatives
-
Whilst we try to make our online platform as easy to use as possible there is always the possibility that a better alternative has not been found in your search.
To avoid this possibility Contact us through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346 and a Senior Team Member can review your requirements and send a list of possibilities with opinions and recommendations.
-
- Confirm Content
- Prices / Formats / Delivery
- Prices
-
All prices are set by our partners and should be exactly the same as those listed on their own websites. We work on a Revenue share basis ensuring that you never pay more than what is offered elsewhere.
Should you find the price cheaper on another platform we recommend you to Contact us as we should be able to match this price. You can Contact us though through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
-
- Discounts
-
As we work in close partnership with our Partners from time to time we can secure discounts and assist with negotiations, this is part of our personalised service to you.
Discounts can sometimes be arranged for speedily placed orders; multiple report purchases or Higher License purchases.
To check if a Discount is possible please Contact our experienced team through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
-
- Available Currencies
-
Most Market Reports on our platform are listed in USD or EURO based on the wishes of our Partners. To avoid currency fluctuations and potential price differentiations we do not offer the possibility to change the currency online.
Should you wish to pay in a different currency to that advertised online we do accept payments in USD, EURO, GBP and PLN. The price will be calculated based on the relevant exchange rate taken from our National Bank.
To pay in a different above currency to that advertised online please Contact our team and a quotation will be sent within a couple of hours with payment details.
-
- Licenses
-
License options vary from Partner to Partner as is usually based on the number of Users that will benefitting from the report. It is very important that License ordered is not breached as this could have potential negative consequences for you individually or your employer.
If you have questions or need confirmation about the specific license we recommend you to Contact us and a detailed explanation will be provided.
-
- Global Site License
-
The Global Site License is the most comprehensive license available. By selecting this license, the Market Report can be shared with other ‘Allowed Users’ and any other member of staff from the same organisation regardless of geographic location.
It is important to note that this may exclude Parent Companies or Subsidiaries.
If you have questions or need confirmation about the specific license we recommend you to Contact us and a detailed explanation will be provided.
-
- Formats
-
The most common format is PDF, however in certain circumstances data may be present in Excel format or Online, especially in the case of Database or Directories. In addition, for certain higher license options a CD may also be provided.
If you have questions or need clarification about the specific formats we recommend you to Contact us and a detailed explanation will be provided.
-
- Delivery
-
Delivery is fulfilled by our partners directly. Once an order has been placed we inform the partner by sharing the delivery email details given in the order process.
Delivery is usually made within 24 hours of an order being placed, however it may take longer should your order be placed prior to the weekend or if otherwise specified on the Market Report details page. Additionally, if details have been not fully completed in the Order process a delay in delivery is possible.
If a delay in delivery is expected you will be informed about it immediately.
-
- Shipping Charges
-
As most Market Reports are delivered in PDF format we almost never have to add additional Shipping Charges. If, however you are ordering a Higher License service or a specific delivery format (e.g. CD version) charges may apply.
If you are concerned about additional Shipping Charges we recommend you to Contact us to double check.
-
- Prices
- Ordering
- By Credit Card
-
We work in Partnership with PayU to ensure payments are made securely in a fast and effortless way. PayU is the e-payments division of Naspers.
Naspers operates in over 133 International Markets and ranks 3rd Globally in terms of the number of e-commerce customers served.
For more information on PayU please visit: https://www.payu.pl/en/about-us
-
- By Money Transfer
-
If you require an invoice prior to payment, this is possible. To ensure a speedy delivery of the Market Report we require all relevant company details and you agree to maximum payment terms of 30 days from receipt of order.
With our regular clients deliver of the Market Report can be made prior to receiving payment, however in some circumstances we may ask for payment to be received before arranging for the Market Report to be delivered.
-
- By Credit Card
- Security
- Website security
-
We have specifically partnered with leading International companies to protect your privacy by using different technologies and processes to ensure security.
Everything submitted to Scotts International is encrypted via SSL (Secure Socket Layer) and all personal information provided to Scotts International is stored on computer systems with limited access in controlled environments.
-
- Credit Card Security
-
We partner with PayU (https://www.payu.pl/en/about-us) to ensure all credit card payments are made securely in a fast and effortless way.
PayU offers 250+ various payment channels and eWallet services across 4 continents allowing buyers to pay electronically, whether on a computer or a mobile device.
-
- Website security