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Saudi Arabia seeking bids for 700-Megawatt Wind and Solar Projects

Saudis to Seek Bids for 700-Megawatt Wind and Solar Projects, Bloomberg, by Anthony Dipaola

April 11, 2017
  • Energy Ministry qualifies 51 companies to bid for power plants
  • First Solar, renewables unit of EDF among qualified companies

Saudi Arabia will begin seeking bids next week from renewable-energy companies to build wind and solar plants with a combined capacity of 700 megawatts as part of the kingdom’s $50 billion program to boost power generation and cut its oil consumption.

Energy Minister Khalid Al Falih will announce a request for proposals for the projects, the next phase in the country’s bidding process, at a conference next week in Riyadh, the ministry said Monday in an emailed statement. The ministry qualified 27 companies to bid for a 300-megawatt solar plant and 24 firms for a 400-megawatt wind farm.

The project is part of a plan to transform the Saudi economy by weaning it off oil and creating new industries. Other Middle Eastern countries including the United Arab Emirates, Jordan and Morocco are also developing renewable energy to curb fuel imports or conserve crude oil for export. Saudi Arabia plans to develop almost 10 gigawatts of renewables by 2023, requiring investment of $30 billion to $50 billion, Al-Falih said in January…….https://www.bloomberg.com/news/articles/2017-04-10/saudis-to-seek-bids-for-700-megawatt-wind-and-solar-projects

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April 12, 2017 - Posted by | renewable, Saudi Arabia

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