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FINANCIAL NEWS
Saudi plans generating 54GW from renewable energy, investing USD109b
18 Jul 2013
(MENAFN) King Abdullah City for Atomic and Renewable Energy (KACARE) reported that Saudi Arabia has plans of generating 54GW from renewable energy by 2030 as the oil rich country is planning an investment of USD109 billion, reported Arab News.
Theses plan aim to cover one third of the country’s needs for energy.
These plans would be a major shift for Saudi Arabia as the Kingdom relies mainly on conventional oil to meet all its energy demand.
It is worth mentioning that Saudi Arabia is also planning the production of 18 GW of nuclear energy.
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