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Dubai: Saudi Arabia begins manufacturing steel towers for wind energy systems, following the signing of two agreements by the country’s local content and government procurement authority (LCGPA).
These agreements, in collaboration with Al Yamamah Steel Industries Co. and Arabian International Co. for Steel Structures, focus on localising production and transferring essential expertise within the wind energy sector, as reported by Saudi news outlet Arab News.
The pacts were finalised at the Energy Localisation Forum in Riyadh that took place on October 25, where the ministry of energy and LCGPA oversaw the signing of 107 agreements and memorandums of understanding, totalling $27.69 billion (Dh101 billion).
This initiative is part of Saudi Arabia’s National renewable energy programme, which aligns with Vision 2030 and aims to tap into the country’s renewable energy potential. The programme seeks to diversify energy sources, drive economic growth, and ensure sustainable financial stability through a robust renewable energy industry.
This initiative aims to boost local content and increase dependence on domestic products and services, thereby enhancing the country’s competitiveness in both regional and global markets.
As Saudi Arabia advances its Vision 2030 goals, these domestic initiatives in the renewable energy and healthcare sectors highlight the Saudi Arabia’s commitment to building a diversified, sustainable economy that emphasises local production and job creation.
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