ACWA Power Chairman Mohammad Abunayyan announced that Saudi Arabia plans to end operations of its 30 gigawatt oil-fired power plants.
Abunayyan said the shutdown of the plant would benefit the environment and support economic growth.
He also said that Saudi Arabia has a clear plan to ensure that 50% of its energy sources come from renewable energy and the remaining 50% from gas by 2030.
The statement was recorded during the 9th International Seminar of the Organization of the Petroleum Exporting Countries (OPEC).
ACWA Power is an international company that specializes in electricity generation and water desalination and is known for its renewable energy projects such as solar, wind and green hydrogen.
