Francesco La Camera, director general of the International Renewable Energy Agency (IRENA), says renewables have become the lowest-cost way to generate electricity and a source of energy security. He made the case to Arab News on Monday at the 25th WPC Energy Congress in Riyadh, which runs from October 11 to 15, and singled out Saudi Arabia for speeding up its shift to clean power.
La Camera, whose agency has 174 member countries, said the Kingdom is expanding its solar and wind sectors, building a role in green hydrogen and strengthening its place in global energy markets. “Saudi Arabia has been leading the way in renewables in this region,” he said. Figures from the Saudi Arabia Renewables Tracker, published by the King Abdullah Petroleum Studies and Research Center, show operating renewable capacity has grown more than 63-fold since 2020 to reach 19.3 GW in 2026. Saudi Arabia is aiming for between 100 GW and 130 GW of renewable capacity by 2030 under Vision 2030, and for net zero emissions by 2060. La Camera said the country already produces electricity from renewables at 1.1 cents per kilowatt-hour, which he described as one of the most competitive costs in the world and credited to strong solar conditions. He added that the national strategy already pays close attention to electrification, renewable technologies and supply-chain challenges.
For years, he said, renewables were seen mainly as a climate tool, but the recent crisis has added a security dimension and a competitiveness one, since “renewables are the cheapest way to produce electricity today”. He did not argue for an abrupt exit from hydrocarbons. A new system will rely mostly on renewables, but oil and especially gas will remain in use for now, and investment is needed to offset depletion in existing fields. A slow, gradual decline in the fossil fuel share would let renewables meet demand, he said, in line with the Paris Agreement goal of limiting warming to 1.5°C.
La Camera described the decision to hold the congress in Saudi Arabia during a period of regional tension as a sign of international solidarity with the Kingdom. He said the gathering gives oil and gas companies a chance to review their investment needs and priorities, and he acknowledged that Saudi resources have helped make many countries richer, both in the past and in recent years.
