The Energy Transition
Saudi Arabia's strategy is not to abandon oil, but to dominate the green energy supply chain while remaining the lowest-cost, lowest-carbon-intensity hydrocarbon producer.
The 50/50 Grid Mix Target
Historically, Saudi Arabia burned a significant portion of its own crude oil for domestic power generation, destroying export value. The 2030 target mandates a domestic grid powered 50% by renewables and 50% by natural gas.
This transition frees up liquid hydrocarbons for export while establishing utility-scale solar capability, led by ACWA Power.
Green Hydrogen (NGHC)
The Neom Green Hydrogen Company is building a facility capable of producing 600 tonnes of carbon-free hydrogen per day in the form of green ammonia. By leveraging abundant solar and wind resources, the Kingdom aims to become the premier exporter of green molecules to Europe and Asia.