KSA to bid for renewable projects in April
Saudi Arabia plans to award contracts for two new solar and wind power plants
Saudi Arabia’s minister of energy, industry and mineral resources Khalid Al-Falih has announced that the country will invite international and domestic firms to bid for renewable energy projects in April.
At a news conference in Riyadh yesterday, Al-Falih said contracts for the projects, including two new solar and wind power plants with a 700MW capacity, would likely be awarded in September, according to Saudi Gazette.
His comments followed an announcement last month that the kingdom would launch a renewable energy program involving investment of between $30bn and $50bn by 2023.
Al-Falih said at the time that the first round of bidding would involve projects that would produce 10GW of power.
Currently the kingdom produces less than 1 per cent of its total power via renewable sources.
It is targeting a contribution of 3,450MW of energy from renewable sources, representing 4 percent of energy demand in the kingdom, by 2020.
Other plans include two nuclear reactors with a total capacity of 2.8GW. The country is in the engineering and design stage for the plants he told reporters.