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FINANCIAL NEWS
1,000MW solar power Co. to launch in Qatar at USD 500mn
28 Feb 2016
(MENAFN) A solar power firm with a capacity of 1,000MW will be launched soon between Qatar Elect and Water Co. (QEWC) and Qatar Petroleum (QP) at USD 500mn.
Furthermore, the project has been chosen based on the fact that generating solar power is cheaper than buying gas from international market.
Additionally, the firm proved the economic viability of the project, which has been approved and now are in the process of establishing the firm soon.
Once the firm is setup between QEWC (60pc) and QP (40pc), global firms will be invited to compete for the 40 percent share followed by QEWC.
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