Energy Headlines

February 6, 2018

Saudi Arabia is starting a renewable energy revolution

Saudi Arabia is starting a renewable energy revolution

For the time being, the Kingdom remains disproportionately dependent on the price of the barrel.

As part of the Vision 2030 plan, presented in April 2016, the Kingdom announced the capital opening of a small portion of the oil giant Aramco, and the creation of a non-hydrocarbon investment fund of $ 2 trillion, meaning the richest in the world.

Beyond the announcement effects, two major tenders have already been launched in autumn 2017, one concerning solar (300 megawatts), the other wind. The goal: to produce 9.5 gigawatts of renewable energy by 2023. The French giant EDF has already been shortlisted and intends to take a fair share of this market. The group has already won a tender in Dubai in the field of solar energy last year.

Next step for the Kingdom, the launch of a nuclear energy development program, of which preparatory consultations have already been launched.

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