Renewable, solar power cost 1.2 cents per kWh across Kingdom: PIF Governor

21/09/2021 Argaam

Yasir Al-Rumayyan, Governor of the Public Investment Fund (PIF)

Yasir Al-Rumayyan, Governor of the Public Investment Fund (PIF), said the cost of renewable and solar power in the Kingdom stands at 1.2 cents per kilowatt-hour (kWh), compared to 15 cents for other producers.

 

“We cannot separate health from economy and sustainability. We think about the future generations in the Kingdom through renewable and solar power,” Al-Rumayyan said at the Future Investment Initiative (FII) event, themed “Health Is Wealth”.

 

The Kingdom aims to deploy 50% of its investments in renewable and sustainable power sources.

 

The PIF will soon announce the start of green sukuk issuance. It will be the world’s sole sovereign fund that issues green sukuk.

 

In July, banking sources said that the PIF is considering its first issuance of green bonds by the fourth quarter of 2021, Argaam reported.

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