Major Saudi-British energy initiative launched in the Kingdom

Dr. Hisham Alhadlaq and Prof. John Loughhead at the start Monday of the Clean Energy and Artificial Intelligence workshop in Riyadh. (AN photo by Hala Tashkandi)
Updated 26 February 2019
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Major Saudi-British energy initiative launched in the Kingdom

  • Estimated $50 billion in renewable energy development projects in the pipeline

RIYADH: A major Saudi-British initiative aimed at advancing clean energy and artificial intelligence technologies is now underway in the Kingdom.

Workshops taking place in the capital Riyadh and the city of Dhahran will mark the first step in the project toward developing a long-term energy program.

The UK Science and Innovation Network, in partnership with the Saudi Ministry of Education’s Research and Development Office (RDO), will be running the workshops over three-days from Feb. 25-27 under the title “Clean Energy and Artificial Intelligence.”

The events follow Saudi Crown Prince Mohammed bin Salman’s visit to the UK last year during which he signed several memorandums of understanding, including one between the Saudi-British Joint Business Council and investors to promote knowledge exchanges in the field of technological investment.

As part of the new plan to push clean energy, Saudi Arabia proposes to invest an estimated $50 billion in renewable energy development projects by 2023 as part of its Vision 2030 reform program. The country also aims to invest in artificial intelligence technologies for smart sustainable energy systems.

Under terms of the agreement, the two countries will have an annual Energy and Industry Dialogue to identify future areas of collaboration.

Collaboration

The keynote address at the opening of the workshops was delivered by Dr. Khalid Alhumaizi, dean of scientific research at King Saud University. Other speakers included Dr. Sahal Abduljawad, the acting rector of King Fahd University of Petroleum and Minerals, Prof. Neil Robertson, chair of molecular materials at The University of Edinburgh, and Dr. Hussam Khunkar, one of the architects of the founding projects of Vision 2030’s renewable energy program.

RDO Director-General Dr. Hisham Alhadlaq thanked delegates for their attendance and said he hoped the workshops would be a success. He also thanked the UK Science and Innovation Network and the Saudi government for their support.

“We feel that this collaboration is going to prove highly beneficial to the advancement of scientific discoveries to both countries,” Alhadlaq told Arab News. 

“Both clean energy and artificial intelligence are booming fields at the moment, and we believe that this partnership will work in everyone’s favor.”

He also encouraged science students in higher education to focus on the opportunities available in these fields in the future.

Prof. John Loughhead, chief scientific adviser at the UK Department for Business, Energy, and Industrial Strategy, representing the UK Science and Innovation Network, also expressed his thanks to the Saudi government, particularly the crown prince and the Ministry of Education.

Loughhead told Arab News that the workshop was “timely” as Saudi Arabia prepared to embark on “a historic transformation of the country’s energy sector.”

He added: “This workshop is another step toward the UK’s strategic partnership to support Saudi Arabia’s Vision 2030 and will strengthen ties between British and Saudi Arabian research institutions.”

Prof. Loughhead also announced the launch of the first UK-Saudi “Women in Science” network. “This network will enhance the links between women working in science, in the UK and in Saudi Arabia, and support the increasing entry of women to the fields of science, technology, engineering, and mathematics.”


Saudi Arabia set to attract $500bn in private investment, Al-Falih tells conference

Updated 09 December 2025
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Saudi Arabia set to attract $500bn in private investment, Al-Falih tells conference

RIYADH: Sustainability, technology, and financial models were among the core topics discussed by financial leaders during the first day of the Momentum 2025 Development Finance Conference in Riyadh.

The three-day event features more than 100 speakers and over 20 exhibitors, with the central theme revolving around how development financial institutions can propel economic growth.

Speaking during a panel titled “The Sustainable Investment Opportunity,” Saudi Investment Minister Khalid Al-Falih elaborated on the significant investment progress made in the Kingdom.

“We estimate in the midterm of 2030 or maybe a couple of years more or so, about $1 trillion of infrastructure investment,” he said, adding: “We estimate, as a minimum, 40 percent of this infrastructure is going to be financed by the private sector, so we’re talking in the next few years $400 (billion) to $500 billion.”

The minister drew a correlation between the scale of investment needs and rising global energy demand, especially as artificial intelligence continues to evolve within data processing and digital infrastructure in global spheres.

“The world demand of energy is continuing to grow and is going to grow faster with the advent of the AI processing requirements (…) so our target of the electricity sector is 50 percent from renewables, and 50 percent from gas,” he added.

Al-Falih underscored the importance of AI as a key sector within Saudi Arabia’s development and investment strategy. He made note of the scale of capital expected to go into the sector in coming years, saying: “We have set a very aggressive, but we believe an achievable target, for AI, and we estimate in the short term about $30 billion immediately of investments.”

This emphasis on long-term investment and sustainability targets was echoed across panels at Momentum 2025, during which discussions on essential partnerships between public and private sectors were highlighted.

The shared ambition of translating the Kingdom’s goals into tangible outcomes was particularly essential within the banking sector, as it plays a central role in facilitating both projects and partnerships.

During the “Champions of Sectoral Transformation: Development Funds and Their Ecosystems” panel, Saudi National Bank CEO Tareq Al-Sadhan shed light on the importance of partnerships facilitated via financial institutions.

He explained how they help manage risk while supporting the Kingdom’s ambitions.

“We have different models that we are working on with development funds. We co-financed in certain projects where we see the risk is higher in terms of going alone as a bank to support a certain project,” the CEO said.

Al-Sadhan referred to the role of development funds as an enabler for banks to expand their participation and support for projects without assuming major risk.

“The role of the development fund definitely is to give more comfort to the banking sector to also extend the support … we don’t compete with each other; we always complement each other” he added.