Saudi Arabia’s 8.3 billion dollars Green Energy Leap

Saudi Arabia invests $8.3 billion in solar and wind projects, adding 15 GW by 2028—advancing Vision 2030 and reshaping its energy future.

Saudi Arabia is taking a bold leap toward clean energy leadership. In a landmark move, a consortium led by ACWA Power, Aramco Power (SAPCO), and Badeel (a subsidiary of the Public Investment Fund) has announced an $8.3 billion investment in seven large-scale renewable energy projects across the Kingdom. This ambitious initiative will add 15 gigawatts (GW) of renewable energy capacity—comprising 12 GW of solar PV and 3 GW of wind energy—by 2028, positioning the Kingdom as a major global player in utility-scale renewables.

The projects, strategically located across provinces like Asir, Madinah, Makkah, and Riyadh, include solar PV plants in Bisha, Humaij, Khulis, Afif 1 & 2, and wind projects in Starah and Shaqra. Once operational between late 2027 and early 2028, they will mark a significant expansion of Saudi Arabia’s clean energy footprint. With financial closure expected

by July–September 2025 ,these projects reflect not only strong local collaboration but also a commitment to accelerating the nation’s energy transition.

This investment directly supports Saudi Arabia’s Vision 2030, particularly the National Renewable Energy Program (NREP), which aims to source 70% of the Kingdom’s renewable energy capacity through the Public Investment Fund. It’s a strategic pivot from an oil-dominated energy mix to a more diversified, sustainable, and resilient energy system. With a national target of reaching 130 GW of renewable capacity by 2030, this 15 GW addition represents a considerable acceleration in pace and scale.

By significantly reducing domestic reliance on fossil fuels for electricity, the projects will cut emissions and strengthen national energy security. Moreover, they support Aramco’s broader goal of energy diversification and achieving net-zero emissions, while also helping ACWA Power expand its renewable capacity to 34 GW. The consortium’s cumulative capacity in Saudi Arabia will rise to over 28 GW, reaffirming the Kingdom’s growing leadership in clean energy innovation.

Beyond energy, the investment has economic and geopolitical implications. It underscores a broader structural transformation—shifting the country toward a non-oil economy, whose share of GDP has already risen to nearly 50% by 2024, compared to 42% in 2016. It also enhances Saudi Arabia’s international standing by strengthening partnerships with global tech and energy leaders, including firms from China and beyond.

The initiative is a tangible demonstration of the Kingdom’s readiness to export not just oil, but clean electricity—often called “green electrons”—and hydrogen in the near future.

Importantly, these efforts align with the Saudi Green Initiative, which prioritizes emission reductions, climate action, and sustainable development. Since 2022, connected renewable capacity in Saudi Arabia has grown by over 300%, signaling real momentum beyond policy statements.

In summary, this $8.3 billion investment marks a turning point in Saudi Arabia’s energy story. It bridges the gap between ambition and action, setting the stage for a green-powered future. It’s not just about meeting targets—it’s about reshaping the Kingdom’s economy, energy system, and global role in the climate era.

These developments are also expected to be spotlighted at the upcoming Energy Evolution Awards & Conference 2026, taking place on February 10–11, 2026, in Dubai. With a sharp focus on innovations in clean power, financing, and policy, the event is likely to feature Saudi Arabia’s landmark investment as a leading case study on how oil-rich nations can drive the global renewable energy transition.

View all stories