Just wait until The Saudis figure out that they're a desert, and maybe instead of stupid line cities they should be building solar farms and long-range international transmission lines.
Doubt they’d replace their current weight with that… If what you say becomes technically feasible, there will be plenty of other countries competing with them, including their neighbors and Africa.
But none with trillions of investment capital sitting around. Building a long-range renewable grid from scratch isn't easy. Morocco has a bit of a head start, but last I read they're still focusing on their domestic grid.
iirc long range transfer of electricity is extremely expensive and difficult. They might be able to supply power locally, but they wouldn’t be able to export to the west. Unless they used it to power manufacture of other fuel sources like green hydrogen.
"As of 1980, the longest cost-effective distance for DC transmission was 7,000 kilometres (4,300 miles). For AC it was 4,000 kilometres (2,500 miles), though US transmission lines are substantially shorter."
The distance from Saudi Arabia to Greece, by road, is roughly 2389 km according to Google Maps (albeit passing through Jordan, Syria and Turkey). As the crow flies or using an undersea cable it would be even shorter, so a monumental project but it could be done. Would require striking a deal with the Jordanians and Israelis, but that's well with Saudi capabilities should they choose to do so.