Saudi Arabia’s Bold Move: Can the Kingdom Pivot from Oil to Renewables?

Last week, I was in Saudi Arabia to speak at a conference on digital well-being, but technology is not the only focus for Saudi Arabia as it tries to move away from its reliance on oil in a changing world.

Despite its vast oil reserves, Saudi Arabia is aggressively investing in renewable energy. Projects like the Sudair solar farm, which spans 14 square miles and powers 185,000 homes, signal a shift towards solar and wind energy, aiming for 50% renewable output by 2030.

This ambitious goal, however, faces skepticism, with experts doubting full achievement. Saudi Aramco, the nation’s oil giant, is also diversifying by investing in green hydrogen and reducing carbon emissions in oil production. These efforts are part of a broader strategy to maintain economic leadership while addressing environmental concerns.

Yet, the kingdom's progress is slower than ideal, with analysts suggesting a more rapid pace and better conditions for competition. How can Saudi Arabia balance its oil legacy with its renewable ambitions to ensure a sustainable and diversified future?

Read the full article on New York Times.

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