Saudi Arabia Wind Power Market Forecast Report 2020 – 2027 – Top Key Players Analysis

Saudi Arabia Wind Power Market

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Saudi Arabia Wind Power Market Summary The major factor contributing to the growth of the Saudi Arabia Wind Power market size is the growing emphasis of government towards meeting its renewable energy objectives under the Saudi Vision 2030 program. Moreover, the country is also aiming to decrease its dependence on fossil fuels and produce electricity through renewable resources such as wind power and solar energy. Saudi Arabia is focusing on generating power using wind turbines to endure lower operational costs as compared to auxiliary power generation technologies. By 2030, the government aims to meet the wind power capacity target, which is set at 16 GW. The growing number of investments by the government and private players for setting-up wind farms in the country will further surge the market growth. For example, in July 2019, a consortium led by France’s EDF and Abu Dhabi’s Masdar entered into a contract of USD 500 million for developing the country’s first utility-scale wind project, the 400-megawatt Dumat Al Jandal wind farm.

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