In the next six years, Saudi Arabia intends to produce 10 percent of its power from renewable sources of energy.
The drive towards renewable energy is likely to see the development of 30 solar and wind projects by 2023 to boost electricity generation and reduce the burning of crude oil. The country plans to produce 9.5 GW of renewable energy which involves an estimated investment between $30 billion and $50 billion. Saudi Arabia’s Energy Ministry recently invited bids for a 400-MW wind power plant, the first ever wind project to be built in northwestern Saudi Arabia.
The National Energy Services Company, Kingdom of Saudi Arabia, signed an MoU with Energy Efficiency Services Limited (EESL), under the administration of Ministry of Power, India to implement energy efficiency programs and scale-up demand side measures in the Gulf country. EESL will provide consultancy and expand the capacity of the National Energy Services Company, which is instituted by the Kingdom of Saudi Arabia, to implement energy efficiency schemes.
Saumy is a senior staff reporter with MercomIndia.com covering business and energy news since 2016. Prior to Mercom, Saumy was a copy editor at Thomson Reuters. Saumy earned his Bachelors Degree in Journalism & Mass Communication from the Manipal Institute of Communication at Manipal University. More articles from Saumy Prateek.