Saudi Arabia to offer 20 investment opportunities in renewable energy: report

09/01/2018 Argaam

 

Saudi Arabia plans to offer more than 20 investment opportunities in renewable energy for local and global companies to boost electricity generation, Aleqtisadiah newspaper has reported, citing unnamed sources.

 

The world’s top oil exporter is increasing focus on renewable energy sources as it looks to diversify its energy mix and economy.

 

The Saudi National Renewable Energy Program (NREP) targets 9.5 gigawatts (GW) of renewable energy by 2023 in support of the Kingdom’s Vision 2030, with an interim target of 3.45 GW of renewable energy capacity by 2020.

 

Earlier this week, the Kingdom’s Renewable Energy Project Development Office (REPDO) has shortlisted ACWA Power and a consortium led by Japanese conglomerate Marubeni Corporation to develop a 300 megawatt (MW) solar project in Sakaka, Al Jouf.

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