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Oman Business News

Saudi Arabia unveils $1.5bn renewable energy projects

Saudi Arabia has launched the second phase of its renewable energy programme, comprising seven solar projects worth $1.5 billion, according to a report.

The combined generation capacity will be 1.51 gigawatts (GW), enough to power 226,500 households, said Arab News, citing a statement from the Renewable Energy Project Development Office of Saudi Arabia’s Ministry of Energy, Industry and Mineral Resources.

The projects will be tendered by mid-2019, after expressions of interest were first invited at Monday’s National Industrial Development and Logistics Program launch in Riyadh, it stated.

These projects are expected to create more than 4,500 jobs during construction, operations and maintenance, it added.

The new renewable energy programme seeks to achieve more than 25GW of wind and solar power generation in the next five years, and close to 60GW over the next decade; of which 40GW will be generated from solar energy, with a further 16GW of onshore wind, said the Arab

Overall, Saudi Arabia aims to create a renewable energy capability of more than 200GW over the next decade, it added.
  • Saudi Arabia
  • Renewable Energy
  • Solar Projects
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