Saudis eye solar, wind projects in oil de-addiction drive

Plans to develop 10 gigawatts of renewables by 2023 with investment of up to $50 bn

Saudi Arabia will develop 30 solar and wind projects over the next 10 years as part of the kingdom’s $50 billion programme to boost power generation and cut its oil consumption.

The world’s biggest exporter of crude oil will produce 10 per cent of its power from renewables by 2023, Energy Minister Khalid Al-Falih said on Monday at a conference in Riyadh. It also plans to generate electricity from nuclear plants.

Saudi Arabia will offer a tender in the fourth quarter for 400 megawatts of wind power at a project in the northern area of Domat al-Jandal, he said. The projects are