Saudis Target 30 Solar, Wind Projects in $50 Billion Pledge
- World’s biggest exporter of crude seeks to wean itself off oil
- Government to tender for 400 megawatts of wind in 4th quarter
Saudi Arabia's Vision 2030 Progress Report
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Saudi Arabia will develop 30 solar and wind projects over the next 10 years as part of the kingdom’s $50 billion program to boost power generation and cut its oil consumption.
The world’s biggest exporter of crude oil will produce 10 percent of its power from renewables by 2023, Energy Minister Khalid Al-Falih said Monday at a conference in Riyadh. It also plans to generate an unspecified amount of electricity from nuclear plants.