SAMPLE

SAUDI ARABIA RENEWABLE ENERGY MARKET

(2021-2026)

The study offers:

• A detailed understanding of the current market dynamics and growth opportunities
• The recent trends and developments, rising prospective opportunities, and a supply chain and PESTLE analysis
• An overview of the competitive intelligence, and the profiles and strategies of major players
• An assessment of the impact of COVID-19 on the market

Forecast Period: 2021-2026

Domain: Energy and Power Base Year: 2020
Study Period: 2018-2026

Industry Reports | Consulting | Intelligence Center

+1 617 765 2493 | info@mordorintelligence.com | www.mordorintelligence.com
1
 DISCLAIMER

Any information and/or material provided by Mordor Intelligence, including all the analysis and/or research by Mordor Intelligence, is provided to a selected group of
customers, in response to orders for such information, material, analysis, and/or research. As a customer of Mordor Intelligence, you acknowledge that our information,
material, and/or services are for your internal use only, and not for any external use and/or dissemination, or general publication, and/or disclosure to any third parties.

Any and all the information and/or material provided by Mordor Intelligence are based on primary interviews and/or secondary research, and are, therefore, subject to
fluctuation and variance. Mordor Intelligence takes no responsibility for any incorrect information and/or material supplied to us by the sources that we rely on, and no
part of our analysis or research may be given, lent, resold, or disclosed to any third parties, including non-customers, without explicit or written permission from Mordor
Intelligence.

Unauthorized reproduction and/or transmission of our information, material, analysis, and/or research in any form and by any means, including photocopying,
mechanical/electronic recording, or otherwise, without the explicit and written permission of Mordor Intelligence, is expressly and clearly prohibited.

Any use of the information, material, analysis, and/or research provided by Mordor Intelligence is at your sole risk; you acknowledge that the information, material,
analysis, and/or research is provided “as is”, and that Mordor Intelligence provides no warranty of any kind, expressed or implied, with regard to the information, material,
analysis, and/or research, including, but not limited to, merchantability and fitness for any purpose and/or use.

2 SAMPLE – SAUDI ARABIA RENEWABLE ENERGY MARKET

 TABLE OF CONTENTS
1. INTRODUCTION 6. COMPETITIVE LANDSCAPE

1.1 Scope of the Study 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and

1.2 Market Definition Agreements

1.3 Study Assumptions 6.2 Strategies Adopted by Leading Players

2. EXECUTIVE SUMMARY 6.3 Company Profiles* (Overview, Key Projects/ Products and Services,

3. RESEARCH METHODOLOGY Financials**, and Recent Developments)

4. MARKET OVERVIEW 6.3.1 ACWA Power

4.1 Introduction 6.3.2 Alfanar Energy

4.2 Saudi Arabia Electricity Generation Mix, 2019 6.3.3 Abu Dhabi Future Energy Company (Masdar)

4.3 Renewable Power Installed Capacity and Forecast in MW, till 2026 6.3.4 Electricite de France SA

4.4 Recent Trends and Developments 6.3.5 Engie SA

4.5 Government Policies and Regulations 6.3.6 Enel SpA

4.6 Market Dynamics 6.3.7 Riyadh Renewable Energy Co.

4.6.1 Drivers 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

4.6.2 Restraints *List Not Exhaustive

4.7 Supply Chain Analysis **Subject to Availability on the Public Domain, paid database (D&B

4.8 PESTLE Analysis Hoovers), and information generated through primary interviews

4.9 Impact of COVID-19 on the Market

5. MARKET SEGMENTATION
5.1 Type
5.1.1 Solar
5.1.2 Wind
5.1.3 Others (Hydro, Biomass, etc.)

3 SAMPLE – SAUDI ARABIA RENEWABLE ENERGY MARKET

3. RESEARCH
METHODOLOGY

4
 3. RESEARCH METHODOLOGY

■ Mordor Intelligence (MI) advocates an appropriate mix of secondary and primary research, to meet the clients’ objectives.

■ MI translates market insights (market dynamics, competition, varying consumer demands, and regulations) into actionable business insights.

■ The following phases are practiced at Mordor, for efficient delivery of various syndicated and consulting assignments:

STEP 1 STEP 2 STEP 3

SCOPING/PROJECT INITIATION MARKET ANALYSIS PROJECT DELIVERY

Decipher client requirements/market to be

Extensive desk research to identify the most relevant secondary information available
studied

Tailor-made research approach for

Contact Mordor’s empaneled experts and identify industry experts across the market
customized reports

Effective use of Mordor’s knowledge

Conduct primaries and surveys to gather qualitative and quantitative insights
repository to gather relevant insights

Confirm the objectives of the assignment with

Triangulate and analyze data, to finalize the actionable business insights
the client

Finalize the report’s contents and Report delivery with high-quality market insights, competitive landscape, etc.,
establish a deliverable format as per the proposed contents

5 SAMPLE – SAUDI ARABIA RENEWABLE ENERGY MARKET

 3. RESEARCH METHODOLOGY

SECONDARY RESEARCH PRIMARY RESEARCH

This phase involves a thorough synthesis of the existing publications across the ◼ At Mordor, we pool in industry experts across the value chain, to gather first-hand
web, to gather meaningful insights on the current situation of the market, insights on the market studied. In addition, knowledgeable industry veterans or
technological developments, and any other market-related information. The retired experts, consultants, and freelancers are a call away, to collaborate with
sources include, but are not limited to: Mordor on any assignment that requires real-time industry insights.

◼ Scientific papers, journals, and publications.
◼ Trade information to understand imports, exports, and average traded price
of the commodity, if available.
◼ Industry and government websites for blogs, magazines, and other
publications.
◼ We are also equipped to conduct market surveys, to gather qualitative insights and
opinions of the individuals related to the industry.
◼ Primary research is used both to validate the data points obtained from secondary
research and to fill the data gaps after secondary research. Data gathered during
the primary research phase are useful to arrive at critical insights, both qualitative
and quantitative; these insights can be used to ascertain the following:

◼ Conference proceedings and association publications.
◼ Investor presentations, technical brochures, annual reports, press releases,
transcripts of key personnel interviews, and other strategic publications by
several competitors in the market.
◼ Critical market dynamics (drivers, restraints, future, and regulations) and their
impact.
◼ Market distribution across various segments.
◼ Market entry for new companies and insights on the competitive landscape.

◼ Product information, including technical specifications, approvals, patents,

etc.
MODES OF PRIMARY RESEARCH
◼ Public sources/energy and power reports (International Energy Agency, BP
Statistics, etc.).
◼ Paid sources (Questel Orbit, Statista, TendersInfo, DnB Hoovers, etc.). •and
Telephonic Email Chat Virtual Others
Surveys
◼ Other sources, including journals, articles, etc. (for prices and usage Interviews Interviews Interviews Council
patterns).

6 SAMPLE – SAUDI ARABIA RENEWABLE ENERGY MARKET

 3. RESEARCH METHODOLOGY

DATA TRIANGULATION AND INSIGHT GENERATION

◼ Based on the factors (both endogenous and exogenous in nature) identified and collected during the secondary and primary phases, our in-house subject-matter
experts transform the quantitative data extracted and use them to infer critical insights.
◼ The market-size estimations are carried out through the ‘bottom-up’ and ‘top-down’ approaches.
◼ Our top-down and bottom-up approaches are integrated into our ‘in-house model sheets’, which are used to generate the market estimates and growth rates
(depending on the historical trends of the respective markets, along with various factors, such as drivers, restraints, and recent developments in the market) of the
product segment, in the respective country.
It is a process of combining the outcomes from different sources, to
increase the validity and reliability of the results. This process also helps
DATA strengthen conclusions about the findings and reduce the risk of false
TRIANGULATION interpretations. The insights obtained from both secondary and primary
research are analyzed and validated by the process of data triangulation, to
arrive at closer estimates.

An econometric model is a simplified representation of a real-world process.

ECONOMETRIC Here, the tools of econometric theory are used to analyze and forecast
MODELING economic phenomenon, and to solve unknown quantities, such as forecast
demand, supply, investment, production, consumption, etc.

After the data is curated, analysts write the report. From the data and
REPORT
forecasts, insights are drawn to visualize the entire ecosystem in a single
WRITING report.

7 SAMPLE – SAUDI ARABIA RENEWABLE ENERGY MARKET

4. MARKET OVERVIEW
4.1 Introduction

4.2 Saudi Arabia Electricity Generation Mix, 2020

4.3 Renewable Power Installed Capacity and

Forecast in MW, till 2025

4.4 Recent Trends and Developments

4.5 Government Policies and Regulations

4.6 Market Dynamics

4.6.1 Drivers

4.6.2 Restraints

4.7 Supply Chain Analysis

4.8 PESTLE Analysis

4.9 Impact of COVID-19 on the Market

8
 4. MARKET OVERVIEW

4.1 INTRODUCTION

◼ Saudi Arabia is a leading oil producer and exporter of oil. It has the second-largest crude oil reserves globally, after Venezuela. Though the economy of Saudi Arabia
is still dependent on petrochemicals and oil, it recognizes the significance of having a diversified energy mix for economic growth. The country is also considering
alternative energy sources, like wind and solar.

◼ Due to the increase in population and electricity demand, the country is cutting down its oil export volumes and export earnings. In order to reduce the consumption
of oil in power generation, Saudi Arabia is in the process of restructuring the power sector, which is driving the renewable energy market.

◼ The country was one of the largest renewable production capacities in the Gulf Cooperation Council (GCC) in 2020. Saudi Arabia has plans to deploy more renewable
energy programs and has successfully tendered large-scale projects in wind and solar power. In early 2020, Saudi Arabia launched the third round of its renewable
energy program, which is expected to add a total capacity of 1.2 GW of solar photovoltaic power to the grid. It also conducted an open bidding for six solar energy
projects, with a combined capacity of 1.2 GW.

◼ The country has a high potential for renewable energy production, focusing on solar power, as it lies in the middle of the “sunbelt,” and wind power, as the annual
average onshore wind speed is relatively high and well above the standard for most countries. The government’s commitment to unlocking the renewable energy
sector is in line with one of the goals of Saudi Vision 2030: to achieve environmental sustainability. Saudi Arabia is ranked sixth for solar energy potential worldwide
and thirteenth for wind potential.

◼ The Government of Saudi Arabia has initiated several policies under the Ministry of Energy to improve its renewable energy capacity. Under the Saudi Arabia National
Renewable Energy Program, a target has been set to generate 58.7 GW of renewable energy by 2030, with 40 GW of this energy coming from solar power.

----- (Detailed Analysis Available in the Full Report) ----

9 SAMPLE – SAUDI ARABIA RENEWABLE ENERGY MARKET

4. MARKET OVERVIEW

4.3 RENEWABLE POWER INSTALLED CAPACITY AND FORECAST IN MW, TILL 2026

RENEWABLE ENERGY MARKET

Installed Capacity and Forecast in MW, Saudi Arabia, 2018-2026

SAMPLE FIGURE

2018 (a) 2019 (a) 2020 (a) 2021 (e) 2022 (f) 2023 (f) 2024 (f) 2025 (f) 2026 (f)
Source: Mordor Intelligence

10 SAMPLE – SAUDI ARABIA RENEWABLE ENERGY MARKET

4.6 MARKET
DYNAMICS
4.6.1 Drivers
4.6.2 Restraints

11
 4. MARKET OVERVIEW | 4.7 MARKET DYNAMICS

4.7.1 DRIVERS

FAVORABLE GOVERNMENT POLICIES

SOLAR POWER
◼ Saudi Arabia recognizes the importance of a diversified energy mix to long-term economic Capacity in MW, Saudi Arabia, 2011-2020
prosperity. Accordingly, through the National Renewable Energy Program (NREP), the Ministry
of Energy has pledged to extend its energy needs through the deployment of renewable energy
to meet the demand growth in the country.

◼ The Government of Saudi Arabia can achieve a noticeable reduction in its greenhouse gas
(GHG) emissions if it fully implements the NREP. Initially, the country's Vision 2030 target
included a target of 9.5 GW of renewable energy generation by 2030. This goal has been
reconsidered and amended to reach 58.7 GW of renewable energy generation by 2030, with 40
GW of this energy coming from solar power. SAMPLE FIGURE
◼ The National Renewable Energy Program is a strategic scheme by the King Salman Renewable
Energy Initiative. This program aims to maximize the potential of renewable energy in Saudi
Arabia.

◼ NREP sets out a specific and organized road map to diversify local energy sources, stimulate
economic development and provide sustainable financial stability to the country, considering
the goals set for Vision 2030, which includes establishing the renewable energy industry and
supporting the advancement of this favorable sector, while working to fulfill the government's
commitments in reducing carbon dioxide emissions.
2011 2012 2013 2014 2015 2016 2017 2018 2019 2020
----------- (Detailed Analysis Available in the Full Report) ---------- Source: Mordor Intelligence

12 SAMPLE – SAUDI ARABIA RENEWABLE ENERGY MARKET

5. MARKET
SEGMENTATION
5.1 Type
5.1.1 Solar
5.1.2 Wind
5.1.3 Others (Hydro, Biomass, etc.)

13
5. MARKET SEGMENTATION | 5.1 TYPE

5.1.1 SOLAR

RENEWABLE ENERGY MARKET

Installed Capacity and Forecast in MW, Solar, Saudi Arabia, 2018-2026

SAMPLE FIGURE

2018 (a) 2019 (a) 2020 (a) 2021 (f) 2022 (f) 2023 (f) 2024 (f) 2025 (f) 2026 (f)

Source: Mordor Intelligence

14 SAMPLE – SAUDI ARABIA RENEWABLE ENERGY MARKET

5. MARKET SEGMENTATION | 5.1 TYPE

5.1.1 SOLAR
 By the end of 2019, the country had a total renewable energy capacity of 397 MW, with more than 95% of it being solar. The country is thriving in its strategy for
sustainability, reduced dependency on oil, and diversification of its energy mix and economy. Saudi Arabia’s National Renewable Energy Program (NREP) aims to
install energy capacities of 27.3 GW by 2024 and 58.7 GW by 2030. This includes 40 GW of solar PV and 2.7 GW of CSP.

 The Saudi Arabian government plans to decrease the heavy reliance of oil in power generation and produce one-third of the nation’s electricity from solar power. This
is expected to drive the demand for solar energy, and in turn, renewable energy.

 The construction boom and the growing population of Saudi Arabia are raising the country’s electricity demand. The ongoing high loads require appropriate and
adequate power generation.

 The Electricity & Cogeneration Regulatory Authority (ECRA) launched a long-awaited regulatory framework for addressing household and small-scale solar
distribution systems connected to the utility grid. A formal introduction of net billing and a cap for each solar system’s capacity per facility was included, ranging from
1 kW to 2 MW. However, the total installed small-scale solar PV system capacity was expected to not exceed 15% of a substation’s transformer rated capacity. This
regulation was issued with immediate effect on July 1, 2020.

 In April 2021, the Saudi Arabian energy company, ACWA Power, announced the opening of a utility-scale solar renewable energy project in the country. The 300 MW
Sakaka PV independent power producer (IPP), which was built with an investment of SAR 1.2 billion (USD 319 million), was inaugurated by the Crown Prince,
Mohammed bin Salman. The renewable energy branch of Larsen and Toubro’s (L&T) Power Transmission and Distribution business has secured an engineering,
procurement, and construction (EPC) contract for a solar photovoltaic (PV) plant in Saudi Arabia. With a power purchase agreement (PPA) in place, the 1.5GW Sudair
project is claimed to be the largest solar PV plant in Saudi Arabia and one of the largest in the world.

----- (Detailed Analysis Available in the Full Report) ----

15 SAMPLE – SAUDI ARABIA RENEWABLE ENERGY MARKET

6. COMPETITIVE
LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures,
Collaborations, and Agreements
6.2 Strategies Adopted by Leading Players
6.3 Company Profiles* (Overview, Key Projects/
Products and Services, Financials**, and Recent
Developments)
6.3.1 ACWA Power
6.3.2 Alfanar Energy
6.3.3 Abu Dhabi Future Energy Company
(Masdar)
6.3.4 Electricite de France SA
6.3.5 Engie SA
6.3.6 Enel SpA
6.3.7 Riyadh Renewable Energy Co.
*List Not Exhaustive
**Subject to Availability on the public Domain,
paid database (D&B Hoovers), and information
generated through primary interviews

16
 6. COMPETITIVE LANDSCAPE | 6.3 COMPANY PROFILES

6.3.5 ENGIE SA – COMPANY OVERVIEW

◼ Engie SA, formerly known as GDF Suez, was formed as a result of the merger-adsorption of
SUEZ by Gas De France in 2008. Gas de France operates in the fields of energy
transition, electricity generation and distribution, natural gas, nuclear, renewable
energy, and petroleum. Engie SA is a global energy player and operates in approximately 70
countries on five different continents.
Founded in 2008
◼ The company operates through six business lines, namely, Client Solutions, Networks,
Renewables, Thermal, Nuclear, and Supply. The Renewables business line comprises all
centralized renewable energy generation activities, including the financing, construction, and Courbevoie, France
operation of renewable energy facilities, using various energy sources, such as hydroelectric,
onshore wind, photovoltaic solar, biomass, offshore wind, geothermal, and biogas energies. www.engie.com
◼ Engie develops its activities in energy production, seawater desalination, district cooling,
renewables, energy efficiency services, and high value-added facilities management, in +33 (1) 44 22 00 00
partnership with Saudi Arabian players.

ENGIE SA
Revenue in EUR billion, 2018-2020
60.10
57.00 55.80

EUR 55.80 billion ~170,000

Revenue (2020) Employees (2019)
2018 2019 2020

----- (Detailed Analysis Available in the

Source: 2020 Management Report and Annual Consolidated Financial Statements Full
Source: 2020Report) ----
Management Report and Annual Consolidated Financial Statements

17 SAMPLE – SAUDI ARABIA RENEWABLE ENERGY MARKET

 6. COMPETITIVE LANDSCAPE | 6.3 COMPANY PROFILES

6.3.5 ENGIE SA – BUSINESS OVERVIEW

◼ France Excluding Infrastructures: This segment comprises the activities of

ENGIE SA following business units (BUs): France B2B, France B2C, France Renewables, and
Revenue Share (%), by Business Segment, 2020*
France Networks.
◼ France Infrastructures: This segment comprises the GRDF, GRTgaz, Elengy and
Storengy BUs, which operate natural gas transportation, storage, and
15%
27% distribution networks and facilities, and LNG terminals, mainly in France.
4% France Excluding Infrastructures ◼ Rest of Europe: This segment comprises the activities of following business
France Infrastructures units: Benelux, Generation Europe, United Kingdom, and North, South, and
8% Rest of Europe Eastern Europe.
◼ Latin America: This segment comprises the activities of the Brazil and the Latin
Latin America
America BUs.
United States and Canada ◼ United States and Canada: This segment comprises power generation, energy
10%
Middle East, Asia, and Africa ----- (Detailed Analysis Available in the Full
services, and natural gas and electricity sales activities in the United States,

Others Canada, and Puerto Rico. Report) ----

8%
◼ Middle East, Asia, and Africa: This segment comprises the activities of
28%
following business units: Asia-Pacific, China, Africa, the Middle East, South and
*Note: Including Elimination of internal
transactions revenue of EUR 7,945 millions Central Asia, and Turkey.
◼ Others: This segment comprises the activities of GEM, Tractebel, GTT,
Source: 2020 Management Report and Annual Consolidated Financial Statements Hydrogen, and the group’s holdings and corporate activities.

18 SAMPLE – SAUDI ARABIA RENEWABLE ENERGY MARKET

 6. COMPETITIVE LANDSCAPE | 6.3 COMPANY PROFILES

6.3.5 ENGIE SA – BUSINESS OVERVIEW

ENGIE SA
Revenue Share (%), by Geography, 2020
7.1% 0.8% 0.7%
France

Belgium

10.4% Other EU Countries

8.5%
43.2% Other European Countries

North America

Asia, Middle East, and Oceania

19.2%
South America

10.0%
Africa

Source: 2020 Management Report and Annual Consolidated Financial Statements

----- (Detailed Analysis Available in the Full Report) ----

19 SAMPLE – SAUDI ARABIA RENEWABLE ENERGY MARKET

 6. COMPETITIVE LANDSCAPE | 6.3 COMPANY PROFILES

6.3.5 ENGIE SA – RELEVANT PROJECTS

30MW SOLAR PLANT AT SAUDI ARABIA'S NADEC CITY

■ The project is being implemented under a solar power

purchase agreement (PPA) for a period of 25 years. Commercial
operations on the plant are expected to commence on 31
October 2020, with an operational trial period of 60 days.

----- (Detailed Analysis Available in the

Full Report) ----

20 SAMPLE – SAUDI ARABIA RENEWABLE ENERGY MARKET

 About us SNAPSHOT
HANDCRAFTED On-the-ground industry experts in
RESEARCH SOLUTIONS 150+countries

IN-DEPTH 1400+ clients

CONSULTATION served globally

REAL-TIME INDUSTRY 2200+

TRACKING consulting projects delivered

DEDICATED ANALYST
SUPPORT 250+ In-house Analysts
+1-617-765-2493
info@mordorintelligence.com
www.mordorintelligence.com
21 SAMPLE – SAUDI ARABIA RENEWABLE ENERGY MARKET
 Our Focus Groups

Domains We Cover
Aerospace
ICT & Defense

Animal Consumer
Electronics Automotive Automation Nutrition Packaging Goods

Food & Chemicals

Agriculture Healthcare and Materials Energy & Power Other Groups
Beverage

22
 Our custom research
solutions
Opportunity Supply Chain
Assessment Analysis

Investment Market Forecast Regulation and Govt. Feasibility

Intelligence Analysis Policy Impact Analysis Analysis

Import and Export Competitor Strategic Go to Market Technology

Data Analysis Assessment Roadmap Strategies Scouting

Copyright © 2021 Mordor Intelligence Pvt. Ltd. – Privileged and Confidential

23 SAMPLE – SAUDI ARABIA RENEWABLE ENERGY MARKET

 FOR MORE INFORMATION,
PLEASE CONTACT
5th Floor, Rajapushpa Summit, Financial
+1 617-765-2493
District, Gachibowli, Hyderabad – 500008,
India

info@mordorintelligence.com www.mordorintelligence.com

Industry Reports | Consulting | Intelligence Center

+1 617 765 2493 | info@mordorintelligence.com | www.mordorintelligence.com

24 SAMPLE – SAUDI ARABIA RENEWABLE ENERGY MARKET