Transition to renewables to save kingdom’s businesses $13 billion

RIYADH: The transition to renewable energy will save companies $13 billion, Arab News quoted the CEO of the National Centre for Debt Management, as saying.

Speaking at the Financial Sector Conference in Riyadh, Hani Al-Madini said that many local entities are already transforming towards sustainable energy, which can decrease the expenses by SR50 billion.

His comments were echoed by Mohammed Al Kuwais, chairman of the Capital Market Authority, who said: “[The] companies are doing this because they recognise their responsibility, and to relate to investors’ demands.”