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The energy minister did not, however, provide any details regarding the capacity that will be auctioned in the tender.

He did inform the attendants that Saudi Arabia’s new master program for the energy sector will require between USD 30 to 50 billion investment, which will need to come via the private sector.

Solar and wind power will be the preferred technologies in the auctions, but geothermal and waste projects will also be considered, just with a smaller role to play.

Saudi Arabia, OPEC’s biggest oil producer, is aiming for renewable energy installations, primarily of solar and wind, of 9.5 GW by 2023, but this is just the starting point, the country’s energy minister told the ADSW.

By 2030, the country will generate 70 percent of its electricity from natural gas and 30 percent from renewables and other sources, promised Al-Falih.

“Other resources” include nuclear power plants, of which plans for two nuclear reactors totaling 2.8 GW are currently in the early stages of consideration and planning…….. http://reneweconomy.com.au/saudi-arabia-to-focus-on-solar-wind-in-us50bn-clean-energy-plan-35690/