Saudi Arabia is making substantial moves to diversify its economy and reduce emissions by investing in green hydrogen as part of its Vision 2030 initiative. The Public Investment Fund has committed $10 billion to the Energy Solutions Company, a green hydrogen venture also backed by Saudi Aramco, aiming to capitalize on the country’s renewable energy resources. Vision 2030 seeks to generate 50% of the nation’s electricity from renewables by 2030, reducing reliance on oil and positioning Saudi Arabia to lead in the global clean energy sector. With abundant solar resources and expertise in petrochemicals, Saudi Arabia is poised to become a significant player in the hydrogen market, aligning with its net-zero goal by 2060. Continue here.
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