Saudi Arabia is taking a significant step in renewable energy by starting to manufacture steel towers for wind energy systems. This development follows the signing of two key agreements by the Local Content and Government Procurement Authority (LCGPA).
The agreements involve partnerships with Al Yamamah Steel Industries Co. and Arabian International Co. for Steel Structures. These collaborations aim to localize production and transfer crucial expertise within the wind energy sector, according to Saudi news reports.
The deals were finalized at the Energy Localisation Forum in Riyadh, where a total of 107 agreements and memorandums of understanding were signed, amounting to $27.69 billion. This initiative is part of Saudi Arabia’s National Renewable Energy Programme, aligning with Vision 2030, which seeks to leverage the country’s renewable energy potential.
The programme aims to diversify energy sources, stimulate economic growth, and ensure financial sustainability through a strong renewable energy industry. It also focuses on boosting local content, increasing reliance on domestic products and services, and enhancing competitiveness in both regional and global markets.
As Saudi Arabia progresses with its Vision 2030 objectives, these initiatives underscore the nation’s commitment to developing a diversified, sustainable economy that prioritizes local production and job creation.
