elektroenergetika

Saudi Arabia expects more than $20 bil investment in renewables over a decade
OCTOBER 20,2020 - hellenics

Saudi Arabia expects to attract more than $20 billion in investments in renewables over the next decade, the CEO of Saudi National Grid said, as the world’s biggest oil exporter seeks to free up oil burned in power generation for export.

The kingdom is aiming to generate 30 GW from renewables by 2025 and 60 GW by 2030, Ibrahim al-Jarbou told the Siemens Energy Week virtual conference.

The Gulf state also expects to attract near record low prices for its renewables projects, he said.

“There is a tender going for some projects and we are expecting these numbers to be very low cost,” he said.

The Saudi ministry of energy in January launched round three of its National Renewable Energy Program (NREP). The round comprises four solar projects with a total combined capacity of 1.2 GW.

Renewable capacity

In April, the ministry said 49 companies had pre-qualified to bid in the third round, 28 of which were from Saudi Arabia.

The ministry of energy, through the NREP, has pre-developed and tendered 2.17 GW of renewable energy capacity, of which 700 MW was awarded in 2019 and a further 1.47 GW to be awarded in 2020.

Saudi Arabia is investing in renewable energy to free up oil burned in power generation for export and lower its CO2 emissions.

The kingdom plans to produce 70% of its power from gas and 30% from renewable energy, Energy Minister Prince Abdulaziz has previously said. Currently the country burns mostly oil to produce power.

Saudi Arabia’s local energy reforms will reduce domestic consumption by 2 million b/d of oil equivalent by 2030, the minister said in October.

Read more: https://www.hellenicshippingnews.com/saudi-arabia-expects-more-than-20-bil-investment-in-renewables-over-a-decade-official/


Povezane vesti BALKAN

FEBRUARY 19, 2021 Hydrogen projects worth $300 billion are dropping green H2 prices fast newatlas

FEBRUARY 15, 2021 Hydropower grew faster in the last 10 years than other forms of storage publicpower

FEBRUARY 9, 2021 Grid Frequency Stability and Renewable Power engineering

FEBRUARY 9, 2021 Africa’s Energy Sector Steering Towards Renewables engineeringnews

FEBRUARY 5, 2021 Study calls for European nuclear renaissance world-nuclear

FEBRUARY 5, 2021 World’s largest battery to be built in Hunter Valley sydneymorningherald

FEBRUARY 5, 2021 How Japan`s electricity grid came close to blackouts japantoday

FEBRUARY 1, 2021 IEA head: The world isn`t moving fast enough on clean energy cnn

FEBRUARY 1, 2021 Australia leading world with record renewable take-up sydneymorningherald

JANUARY 29, 2021 Dominion Energy encourages electric vehicle adoption virginiabusiness



Web Analytics