He was off about ‘no oil’ but relatively speaking for a Gulf country they don’t have enough to be throwing it away on domestic power production. They may say this (and their solar power ventures) are for “green” reasons, but they’re really just making sure they have power if the oil runs out and so they can sell more oil to the rest of the world (which makes more sense financially).
Yes, it’s the smart move.
You never want to consume your cash crop or get high on your own supply.