Saudi Arabia aims to produce 54 gigawatt (GW) of electricity from renewable energy sources by 2040, a report said.
About 41GW of electricity will be generated from solar energy while geothermal, waste and wind power will provide the remaining 13GW.
According to the report, renewable energy continued growth in 2015 while investments in this sector kept an upward trend and provided 19.1 per cent of the world’s total energy consumption.
Globally, green energy investments totalled $285.9 billion in 2015, compared to $270.2 billion, $232 billion, and $45 billion in 2014, 2013 and 2004, respectively, the report said.
Green energy investments in all parts of the world registered an increase in 2015, compared to figures of 2013, while investments in developing countries grew by 36 percent to $131.3 billion compared to figures of 2014, the report said.
Other Arab countries have plans to produce energy from renewable sources as follows: Algiers 22GW (2030), Morocco 6GW (2020), Egypt 4.12GW (2027), Jordan 2.8GW (2020), Kuwait 7.7GW (2030), Lebanon 1.1GW (2020), Qatar 1.8GW (2017), and Tunisia 1GW (2030), the report said.