Saudi Arabia awarded local companies $8.3 billion worth of projects to add 15 gigawatts of domestic wind and solar electricity capacity.
The facilities will be developed by ACWA Power, PIF’s Water and Electricity Holding Co., and Aramco Power. The wind farms will be in Riyadh province, while the solar plants will be spread across the kingdom.
Gulf countries are investing in renewable energy at home — both to decarbonize their power grids and to free up more fossil fuels for export — and abroad: Some companies have developed global expertise, with ACWA Power a major player in Asia and Africa, and Abu Dhabi’s Masdar pursuing a 100-gigawatt global portfolio of renewable energy assets.
AD