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FINANCIAL NEWS
Qatar aims to build 1,000 MW of solar power
22 Feb 2016
(MENAFN) Qatar intends to construct almost 1,000 megawatts of solar power generating capacity to expand its energy mix away from hydrocarbons.
Accordingly, Qatar Elect and Water Co. would hold 60 percent of a new solar power joint venture with Qatar Petroleum.
Moreover, the two firms will offer USD 500mn of start-up capital, while global companies will be invited to back 40 percent of each project.
The project will be built on the fact that producing power from solar is cheaper than buying gas from the international market.
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