RIYADH: Saudi Arabia expects spending on power and renewable energy projects to hit SR1.1 trillion ($293 billion) until 2030, according to a presentation from the Kingdom’s energy ministry.

The country sees most of the spending being made in power transmission projects with SR430 billion, showed the presentation that was presented on Monday by the energy minister during the Saudi budget forum in Riyadh.

The Saudi energy minister said the Kingdom plans SR142 billion in energy distribution through 2030. Prince Abdulaziz said the country plans to invest SR380 billion in renewable energy projects by 2030.

The energy minister, however, said the natural gas infrastructure including pipelines will be owned by the state.