Speech of HRH Minister of Energy at CEM14_MI8

[M116-01] · سمو وزير الطاقة (HRH the Minister of Energy) · التوقيت 00:00:00 · Speech of HRH Minister of Energy at CEM14_MI8 · 2023-07-21 · مشاهدة عند هذا التوقيت

Thank you Mr. Chair. First of all it's always a pleasure to be in India and certainly I cherish quite a few memories back in the 90s when it was my first time to be in Goa. It’s had proven continue to prove to be a place where people can gather and have also share the rich culture that exist in this part of the Great India. I also would like to thank secretaries ofboth the clean energy and the mission Innovation for the superb work that they've been doing over the last few years. Later on I will be doing some announcements to further our support to the mission and activities of both initatives.

[M116-02] · سمو وزير الطاقة (HRH the Minister of Energy) · التوقيت 00:01:14 · Speech of HRH Minister of Energy at CEM14_MI8 · 2023-07-21 · مشاهدة عند هذا التوقيت

with one of the first to join and certainly we will continue to be one of the more supporters of these two initiatives. I would like to share with you if you are ambitions just to make sure how much we are interested in continuing the efforts with these two initiatives because ideally and clearly there is any big challenge that we are facing it would be more to do with providing ourselves with technologies that would induce further the ability of so many of us here to endurance more transitioning towards a more sustainable energy systems.

[M116-03] · سمو وزير الطاقة (HRH the Minister of Energy) · التوقيت 00:02:07 · Speech of HRH Minister of Energy at CEM14_MI8 · 2023-07-21 · مشاهدة عند هذا التوقيت

we ought to our this generation and the generations to come were by we are to ensure that energy security, energy sustainability, energy poverty, and certainly climate change should be addressed commensurate with each other without any way of compromising one for the rest.

[M116-04] · سمو وزير الطاقة (HRH the Minister of Energy) · التوقيت — · Speech of HRH Minister of Energy at CEM14_MI8 · 2023-07-21

But in that endeavor, we as Saudi Arabian unfortunately we don't use opportunities like this in trying to speak more in details about what we intend to do. So being shortcomers in the past we no longer wants to be, but more transparent in the future and I would like to if you can just bear with me with the ambitions that we have, I think it would be worthy for us to share it with you. but I will still believe that we are making that record will continue to make the record that we are the lowest course producer of both renewable and hydrogen. In fact we are already exporting hydrogen to Japan to Korea, and we will continue to do so. but we will give you an idea of where with our domestic first and foremost ambition, we are targeting a hundred and thirty gigawatt by 2030 for our own domestic energy mix.

[M116-05] · سمو وزير الطاقة (HRH the Minister of Energy) · التوقيت 00:04:05 · Speech of HRH Minister of Energy at CEM14_MI8 · 2023-07-21 · مشاهدة عند هذا التوقيت

I would have to say that just to give you an idea, ever since last fourth quarter of last year, until end of this year. We will be tendering 15 giga and actually next year we will be tendering 20 giga if not little bit more, all the way to reaching out to that ambition of that hundred and thirty. And that's only just basically to attend to our own energy domestic energy next. For our export ambition using again the advantage that we are continue to be the lowest producer of both renewable and hydration we have an ambition of at least producing 150 giga.

[M116-06] · سمو وزير الطاقة (HRH the Minister of Energy) · التوقيت 00:05:07 · Speech of HRH Minister of Energy at CEM14_MI8 · 2023-07-21 · مشاهدة عند هذا التوقيت

Where it could be divided into exporting green electricity or green hydrogen and I haven't yet talked about no carbon hydrogen, but actually the divide between the two hydrogen it will be a two third green and one third low carbon hydration. The way we are going to and in order for us to do all the above, we have initiated what we call it the national renewable program for lunching National geographical survey project, which will start next year. We will install more than 1,200 and wind resource measurement stations across the country. 700 sites 500 of them would be solar and the 200 would be for wind this is just a start, but again it's all about the ambition and how that ambition would evolve. But we know for fact that that this ambition of just mainly trying to figure out the proper sites this is going to be a start that would be stations would provide reliable bankable and predicated data renewable resources to identify potential renewable energy parks.

[M116-07] · سمو وزير الطاقة (HRH the Minister of Energy) · التوقيت 00:06:50 · Speech of HRH Minister of Energy at CEM14_MI8 · 2023-07-21 · مشاهدة عند هذا التوقيت

The first survey will be completed in the second quarter of 2024 and I would like to make a record for that andwe would like to be accountable for what we are saying here. So in reality this is not just about a PR stunt to generate soundbites. We're doing it actually for ourselves, making sure that we attend to our own energy requirements and yes we need to showcase that we need to deal with these issues with a view that we will lead by example.

[M116-08] · سمو وزير الطاقة (HRH the Minister of Energy) · التوقيت 00:07:36 · Speech of HRH Minister of Energy at CEM14_MI8 · 2023-07-21 · مشاهدة عند هذا التوقيت

Sorry to take much of your time, but in our approach to the exporters of both green electricity and green hydrogen, there are people here attempting and some ministers will be attending tonight and tomorrow you could check with them. We've been working with our friends from Germany, France, the UK, India, believe we're reaching out to each other Japan, Korea, China, and we will do more of that.

[M116-09] · سمو وزير الطاقة (HRH the Minister of Energy) · التوقيت 00:08:14 · Speech of HRH Minister of Energy at CEM14_MI8 · 2023-07-21 · مشاهدة عند هذا التوقيت

Our approach is very flexible approach we're open to a very liberal approach of flexible approach of reaching of course not to forget our friends from the EU Commission, she can testify here. We will make sure that we would do it all the way from producing the renewable to converting it to hydrogen and that hydrogen could be piped or could be shipped. The electricity could be transmissioned, whatever it is needed whatever its requirements we have our own national champions. There will be working and joint ventures from A to Z, what we are waiting for anxiously and addition to the other enables that we will be forwarded would be, what sort of incentive the off takers will be furnished with this way we can quickly have rapidly really achieve this objects. So, again I would urge all of us to focus on what would really deliver us in time to achieve this accomplishments that we hope to achieve. I certainly would like to recommend something here that's actually by aggregating demand and aggregating supply and aggregating enablers, we stand a better chance for reducing cost and bringing more certainties to the producers upon which things can move. No one would rather building the pipeline or a huge transmission lines without certainties of the buyers and certainty of the available sellers that will produce it. And therefore, to think that these things of transitioning, Global transitioning will happen without Global continuous Global effort where people are focus on all of the above including providing new technologies required, achieving financial institutions, that would allow for these things to happen, furnishing the enablers of all the above, including technology, I really believe it will be a tough call for each and over every one of us will achieve what we all aspire for.

[M116-10] · سمو وزير الطاقة (HRH the Minister of Energy) · التوقيت 00:10:53 · Speech of HRH Minister of Energy at CEM14_MI8 · 2023-07-21 · مشاهدة عند هذا التوقيت

So again, I would emphasize Global efforts. Again I will emphasize that in Saudi Arabia we could also provide the green electricity, green hydrogen. We do have the right enablers in the form of Industry cities economic zones and even additional enablers for inviting green Industries to come over. We don't want them to come over they want to stay where we are, but if they don't find the place that can be the right to incubat it, we would love to be the incubator of all of the above. Again we have and I'm sorry to take so much of your time, but we have succeeded ever since the seventy and we are harnessing the concept of joint ventures. So we are here in Goa we will be everywhere, harnessing and promoting the idea of joint venturing and working collectively and corporately. Thank you!