Asia Environment

Saudi Arabia on the Verge to launch $30-50bn Renewable Energy Programme

Day in day out our world keeps on changing in terms of Climate, and other environmental conditions.The energy we have at our disposal like fuel and the end, results in degrading our environment. Even when it comes to Africa environmental pollution is a massive hit to talk about.

Saudi Arabia officially known as the Kingdom of Saudi Arabia (KSA), is an Arab state in Western Asia constituting the bulk of the Arabian Peninsula. With a land area of approximately 2,150,000 km2 (830,000 sq mi), Saudi Arabia is geographically the fifth-largest state in Asia and second-largest state in the Arab world after Algeria. Saudi Arabia is bordered by Jordan and Iraq to the north, Kuwait to the northeast, Qatar, Bahrain, and the United Arab Emirates to the east, Oman to the southeast, and Yemen to the south. It is separated from Israel and Egypt by the Gulf of Aqaba. It is the only nation with both a Red Sea coast and a Persian Gulf coast, and most of its terrain consists of arid desert or barren land forms.

 

Saudia Arabia is planning to launch tenders within weeks for a new renewable energy programme it expects to be worth between $30-50bn of investment by 2023.The kingdom’s energy minister Khalid Al-Falih announced yesterday that the first round of bidding would soon begin for clean energy projects expected to add GW of capacity by 2023, mostly via wind and solar installations.

 

Speaking at the International Renewable Energy Agency (IRENA) 10th annual World Energy Summit in Abu Dhabi, Al-Falih said Saudi Arabia is committed to its target of generating 30 per cent of its power from  sources by 2030.

 

This will include a “significant investment” in nuclear energy, he explained, with plans in motion for a 2.8GW of new nuclear capacity, alongside the scaling of renewables in the country. The first renewables tenders will be issued “within weeks” according to Al-Falih, although no further details about time frame or cost of the first contracts were revealed.

The news follows Saudi Arabia’s announcement last year of plans to diversify its economy and end the kingdom’s oil “addiction”, having suffered from low oil prices in recent years.  A number of recent moves to boost renewables capacity and energy efficiency have also been made by the kingdom. Saudi Arabia installed its first ever wind turbine last June, while it is reportedly working towards drawing up a programme for more efficient water and energy use.

Meanwhile, the Abu Dhabi event also saw Jordan announce plans to award 300MW of renewables projects by the end of 2017, according to Bloomberg New Energy Finance.The projects include four solar and two wind plants, each at 50MW generation capacity, and form part of Jordan’s plans to have 1,600MW of renewables capacity by 2020 evenly split between solar and wind.

We all seeks that the whole world will switch to renewable energy, to help save the planet for the future generations.

 

Research Credits:BusinessGreen

About the author

Anane Ebenezer

I am 23 years from Ghana (West Africa).My core aim for developing TechGenez is to "Connect People All Over The World to the World of Technology". That is my mission on planet earth.God Bless You for passing by.

Add Comment

Click here to post a comment

Translate »