The New Arab Logo

Breaking News
Saudi Arabia starts hunt for solar, wind firms Open in fullscreen

The New Arab & agencies

Saudi Arabia starts hunt for solar, wind firms

Saudi's minister of energy said the bidding marks the start of energy diversity [AFP]

Date of publication: 21 February, 2017

Share this page:
  • 0

  • twitter
The world's biggest oil exporter on Monday took the first step towards a goal of generating 9.5 GW of energy through solar and other renewable means.

The world's biggest oil exporter on Monday took the first step towards a goal of generating 9.5 GW of energy through solar and other renewable means.

It invited local and international firms to try to qualify for bidding on two projects.

One is for 300 MW of solar energy to be built in Al-Jouf province, in the kingdom's north.

The second is for a 400 MW wind power development in Tabuk, northwestern Saudi Arabia, the energy ministry said in a statement.

Government estimates say Saudi peak energy demand is expected to exceed 120 gigawatts by 2032.

Virtually all of the kingdom's power currently comes from crude, refined oil or natural gas.

But as part of the Vision 2030 economic reform plan to wean the kingdom off oil, it has set a target of 9.5 GW of renewable energy by 2023.

"This marks the starting point of a long and sustained programme of renewable energy deployment in Saudi Arabia," Khaled al-Falih, Minister of Energy, Industry and Mineral Resources, said in the statement.

He said this will not only diversify the kingdom's power mix but will also catalyse economic development.

Reaching the 9.5 GW target will cost between $30 billion and $50 billion, Falih said last month.

Companies will have until March 20 to file documents for bidding pre-qualification. Those which are successful will be announced by April 10.

Formal proposals can then be presented until July, the ministry said.

The New ArabComments

Most Popular

Most Popular

    Read More