Saudi Arabia

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Saudis Announce $50 Billion Shift to Renewables

Bloomberg News: Saudi Arabia will develop 30 solar and wind projects over the next 10 years as part of the kingdom’s $50 billion program to boost power generation and cut its oil consumption. The world’s biggest exporter of crude oil will produce 10 percent of its power from renewables by 2023, Energy Minister Khalid Al-Falih […]

April 21, 2017 Read More →

Expansion Into Renewables Opens Saudi Aramco IPO to ‘a Larger Pool of Investors’

Bloomberg News: Aramco is the world’s largest oil company, but when it sells shares next year its foray into renewables is what may lure investors who would otherwise be forced to stay away. Saudi Arabian Oil Co., as it is formally called, is considering investments of as much as $5 billion in renewable energy, part […]

March 6, 2017 Read More →

Following India’s Lead, Saudi Arabia Seeks Bidders for March Auction as It Rolls Out 10-Gigawatt Program

From Bloomberg New Energy Finance: Saudi Arabia is inviting bidders to qualify for its first renewable energy tender by 20 March. The world’s top crude exporter is laying the groundwork for a rollout of wind and solar power, which will allow it to reduce the amount of oil used domestically and, it hopes, will stimulate […]

February 21, 2017 Read More →

Saudis Announce Auction for Solar and Wind Projects in Bid to Generate World’s Cheapest Electricity

Wael Mahdi for Bloomberg News: Saudi Arabia will award its first tender to build 700 megawatts of solar and wind energy in September, with the cost of power forecast to be the lowest in the world, Energy Minister Khalid Al-Falih said. OPEC’s biggest oil producer plans to build 300 megawatts of solar plants in the […]

February 3, 2017 Read More →