Saudi Arabia Minister of Energy, Industry and Mineral Resources Khalid Al-Falih said that the government will float tenders in the next few weeks for the renewable energy projects.
The renewable energy program aims to install 10GW of power projects, primarily solar and wind farms, by 2023.
Bloomberg quoted Saudi power developer Abdul Latif Jameel Energy, which plans to bid for the first phase of the program, CEO Roberto de Diego Arozamena as saying that the first tender could involve development of 700MW of renewable projects with an investment of about $700m.
The country is also considering ways to connect its renewable energy projects with Yemen, Jordan and Egypt, said Al-Falih
Al-Falih was quoted by Reuters as saying: "We will connect to Africa to exchange non-fossil sources of energy.”
Meanwhile, Al-Falih said that the country is planning to build two commercial nuclear reactors, which will have 2.8GW of total installed capacity. The project is currently under early stages of feasibility and design studies.
Al-Falih added: "There will be significant investment in nuclear energy.”
By 2030, the country aims to generate 70% of its power from natural gas. The remaining 30% is planned to be produced from renewable and other sources.
Image: Saudi Arabia intends to build 10GW of renewable energy projects. Photo: courtesy of franky242/FreeDigitalPhotos.net.
