HRH Prince Abdulaziz bin Salman bin Abdulaziz Al Saud, Minister of Energy, participated in the Energy Transitions Working Group meetings, the 15th Clean Energy Ministerial and the 9th Mission Innovation Ministerial, held on October 3 and 4 in Foz do Iguacu, Brazil.
The meetings focused on sustainable energy policies and equitable energy transitions within G20 efforts to enhance international cooperation aimed at achieving environmental sustainability and supporting innovations in clean energy technologies.
HRH Prince Abdulaziz emphasized the importance of balancing economic growth, energy security, and climate change mitigation. He highlighted the Kingdom's leadership in Carbon Capture, Utilization, and Storage (CCUS) technologies, as well as its commitment to leading by example in leveraging circular carbon economy technologies, and affirmed the Kingdom's ambition to become a global leader in the production and export of clean energy.
The Minister also outlined Saudi Arabia's efforts to increase its renewable energy capacity, which is expected to reach approximately 44 gigawatts by the end of 2024, and touched upon the establishment of a hydrogen production hub in Ras Al Khair Industrial City, along with a major carbon capture and storage project, which will have a capacity of 9 million tons annually by 2027.
