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Prince Turki Al Faisal Al Saud, one of Saudi Arabia’s top spokesmen, has confirmed that Saudi Arabia has plans to generate 100% of its power from renewable sources, and low carbon forms of energy.
Currently Saudi Arabia produces nearly all of its energy from fossil fuels, with two-thirds coming from oil and the rest from natural gas.
The kingdom is exploring its renewable energy options, of which solar energy is expected to play a large part. They have also signed a memorandum of understanding with Argentina to develop nuclear power.
Prince Turki said that the nation’s vast oil reserves, one fifth of global reserves according to the IEA, will be used to create other goods such as plastics and polymers, rather than be burned in power plants.
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“Oil is more precious for us underground than as a fuel source. If we can get to the point where we can replace fossil fuels and use oil to produce other products that are useful, that would be very good for the world. I wish that may be in my lifetime, but I don't think it will be.”
Joss Garman, the political director of Greenpeace, praised the vision of the Saudi Prince, but stated that “but Saudi Arabia will only truly be a green economy when it leaves its fossil fuels in the ground.”
By. Joao Peixe of Oilprice.com
Joao is a writer for Oilprice.com