The Saudi Water and Electricity Regulatory Authority (SEWA) has come up with a regulatory framework for renewable energy systems for self-consumption.
Chaired by Prince Abdulaziz bin Salman bin Abdulaziz, Saudi Arabia’s Minister of Energy and Chairman of the Board of Directors of the Water and Electricity Regulatory Authority, the Board has approved the regulatory framework for renewable energy systems for self-consumption. The authority said that the new framework is in reflection of the energy system’s efforts to develop regulations that contribute to achieving the goals of the Kingdom’s Vision 2030 in the use of renewable energy.
As per reports, this framework comes after the completion of organizational and technical arrangements with multiple authorities and its objective is to contribute to the diversification of power sources. This will also help support the strategic plans of the energy system in Saudi Arabia that includes bringing down the carbon emissions and reaching a optimal energy mix.
It also aims to enable consumers to install renewable energy systems for self-consumption, which enhances the expansion of the beneficiaries of renewable energy technologies and contributes to diversifying energy sources and achieving the optimal mix of electrical energy production.
“The framework for the self-consumption renewable energy systems was approved after the completion of the organizational and technical requirements by the concerned authorities were met,” said the official statement by the government.
Recently the Chairman of ACWA Power had held that Saudi Arabia will become the world’s biggest green energy producer.
In July, the country said that it will double the renewable energy tenders this year and give a fillip to the clean electricity availability through faster development in the solar power and wind farm projects in 2023. Under its National Renewable Energy Program, the kingdom is building five new projects for renewable electricity having a total combined capacity of around 3,300 MW. The RE trajectory of Saudi Arabia looks promising as UAE’s flagship company for clean energy development – Masdar – has also opened its new dedicated office in the Saudi Arabia and it will also participate with partners in the upcoming Round 4 tender announced by the Saudi Power Procurement Co. (SPPC) for wind and solar projects for 3.3 GW.