- The Government of Saudi Arabia plans to invest in green hydrogen production.
- It intends to introduce industrial licences to RE companies to accelerate clean energy generation.
The Authorities of Saudi Arabia is planning to introduce industrial licences to companies operating in the renewable energy and electricity sector to promote the expansion of green power.
According to a note from the Ministry of Energy, the Ministry of Industry and Mineral Resources, the Ministry of Energy and the Non-Oil Revenues Development Centre are partnering to offer incentives to energy project developers that will enable them to benefit from advantages, including exemptions from customs.
A report from RenewablesNow noted that the initiative is meant to support the development of renewable energy technology and projects and Saudi Arabia’s goal to become a regional centre of electricity production and export. Interested businesses can apply for an industrial licence on the Energy of Industry and Mineral Resources website. The ministry also noted that several incentives are already offered to investors in the area through the Senaei platform.