New renewable energy projects key to achieving optimal power mix: Cabinet

The Saudi Cabinet, during the meeting, reviewed key economic indicators and issued several resolutions

The Cabinet reviewed key economic indicators, noting the continued growth of non-oil exports as the national economy advances in diversifying its pathways to support various vital and emerging sectors.

It also emphasized the launch of new renewable energy projects across different regions of the Kingdom, with a total capacity of 4,500 MW and investments exceeding SAR 9 billion.

These projects are expected to help achieve the optimal energy mix for electricity production by 2030 and strengthen the Kingdom’s global leadership in the field.

The Cabinet approved several decisions, including authorizing the Minister of Commerce, Chairman of the Small and Medium Enterprises General Authority (Monshaat), or his deputy, to engage with counterpart authorities in India, South Africa, France, Singapore, Sweden, and Thailand on drafting memoranda of understanding (MoU) for cooperation in areas related to small and medium enterprises (SMEs) and entrepreneurship, and to sign them.

It also authorized the Minister of Communications and Information Technology, Chairman of the Saudi Space Agency (SSA), or his deputy, to discuss with the Turkish side a draft MoU for cooperation between the Saudi and Turkish space agencies in the peaceful use of outer space, and to sign it, while approving amendments to certain provisions of the system regulating service providers for overseas pilgrims.