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Saudi to Invite Bids for New Renewable Energy Projects in April 2017

Source: Reuters 2/1/2017, Location: Middle East

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Saudi Arabia will invite international and domestic companies to bid for renewable energy projects in April, the energy minister said, adding that he expected to award the deals in September.

Energy Minister Khalid al-Falih, speaking at a news conference in Riyadh said the projects would include two new solar and wind power plants with a capacity to produce 700 megawatts of power.

The projects are part of a major renewable energy supply program which is expected to involve investments of between $30 billion and $50 billion by 2023.

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