Saudi Arabia Aims to Become Next Germany of Renewable Energy - Bloomberg
Saudi Arabia wants to emulate Germany’s success with renewable energy and be a pioneer in hydrogen production, as the world’s biggest exporter of oil seeks to diversify its economy.
“We will be another Germany when it comes to renewables,” Energy Minister Prince Abdulaziz bin Salman said Wednesday on a panel at the Future Investment Initiative conference in Riyadh. “We will be pioneering.”
The kingdom is working with many countries on green and blue hydrogen projects and those to capture carbon emissions, he said.
The green version of the fuel, which produces only water vapor when burned, is made with renewable energy, typically solar and wind power. The blue type is produced from natural gas, with the greenhouse gas emissions being captured so they can’t escape into the atmosphere.
While hydrogen is seen as crucial for the switch from oil and gas to cleaner fuels, the technology to make it is still comparatively expensive.
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