07 Feb '18, 7pm

Saudi Arabia Makes Big Push to Boost Domestic Renewable Energy - Yale Environment 360

The world’s largest exporter of oil, Saudi Arabia, is shifting away from fossil fuels toward renewable energy. The country’s government plans to invest up to $7 billion in seven new solar plants and a wind farm by the end of the year, with a goal to get 10 percent of its power from renewables by 2023, The New York Times reported . This week, the government made a deal with ACWA Power, a Saudi energy company, to build a $300 million solar farm in Sakaka, in northern Saudi Arabia, that will power 40,000 homes. The project received bids as low as 2 to 3 cents per kilowatt-hour — lower than the cost of electricity generated from fossil fuels, according to Turki al-Shehri, head of the kingdom’s renewable energy program. “All the big developers are watching Saudi,” Jenny Chase, an analyst at Bloomberg New Energy Finance, a market research firm, told The Times. But while Saudi Ar...

Full article: http://e360.yale.edu/digest/saudi-arabia-makes-big-push-t...

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