FINANCIAL NEWS

Saudi Arabia to improve 30 solar, wind projects

18 Apr 2017

(MENAFN) Saudi Arabia will develop 30 solar and wind projects in the coming 10 years as part of its USD50bn program to enhance power generation and reduce its reliance on oil.

Additionally, the kingdom will generate 10 percent of its power from renewables by 2023, while it has been blessed with abundant hydrocarbon resources, vast wind, and sun and land resources.

Meanwhile, KSA is pursuing one of the most ambitious renewable energy development program globally, applying 9.5GW of wind, solar and other tech over the next 6 years.

The government has shortlisted 51 companies, most of them from abroad, for offering on that plant and a 400-megawatt wind farm, while a tender will be offered in Q4 for 400MW.

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MENAFN1804201700450000ID1095400841

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