Saudi Arabia’s energy ministry has appointed a new head of its renewable energy project development office (REPDO) as the Kingdom pushes ahead with ambitious plans to integrate more renewable energy as part of its Vision 2030 economic and social reform plan.
Faisal Al-Yemni, who was previously chief executive at GCC Assets Investment and Development Company and has 15 years of experience in renewables power, will take the lead at REPDO, according to reports. Al-Yemni has also worked for Saudi Aramco, Showa Shell, and Schlumberger.
“Mr. Al-Yemni joins REPDO at a momentous time in Saudi Arabia’s renewable energy journey,” REPDO said in a press release.
Saudi Arabia recently revised its renewable energy target from 9.5GW to 27.3GW to be achieved by 2024. Vision 2030 also calls for the oil-rich Kingdom to embrace the potential of renewable energy with targets of 40 GW of solar, 16 GW of wind, and 3GW of concentrated solar through large-scale investments by 2030.
Around 70 per cent of renewable schemes in the kingdom will be executed by the sovereign Public Investment Fund, while the remainder will be awarded through Repdo, The National reports.
Among some of the recent new projects in the renewables space includes the kingdom’s first wind power project at a cost of $500m.