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17-Jan-2017

Saudi Arabia to launch USD30-50bn renewable energy program soon, Energy Minister says

Saudi Arabia will launch in coming weeks a renewable energy program that is expected to involve investment of USD30-50bn by 2023, Saudi Energy Minister Khalid Al Falih said on Monday. The first round of bidding for projects under the program, which would produce 10 GW of power, will commence in the next few weeks. Falih revealed that, in addition to that program, there are plans to connect the kingdom's renewable energy projects with Yemen, Jordan and Egypt. Also, Saudi Arabia is in the early stages of feasibility and design studies for its first two commercial nuclear reactors, which will total 2.8 GW, he added. (Reuters)

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