Environment

Like many other nations looking to diversify their economies, Saudi Arabia has chosen to take advantage of its natural resources to fuel development. Solar and wind power have both been earmarked by the government as it seeks to reduce its reliance on the hydrocarbons sector. Some $109bn will be spent to produce 41 GWh of solar power and 9 GWh of wind capacity by 2032. Indeed, solar power is already gaining traction as an important tool for tackling water scarcity in the Kingdom. A series of solar-powered desalinisation plants have already been planned for construction by joint venture groups. Meanwhile, government efforts to create stronger regulatory and incentive schemes should lead to increased private investment in green building technology and energy-efficient appliances, potentially translating into improved energy savings.