Saudi Arabia to Offer 1 Gigawatt of Renewable Contracts in 2017
- Power purchase deals will be guarenteed by the government
- Kingdom is ‘open for business’ and seeking investment
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Saudi Arabia will offer as much as 1 gigawatt of contracts to buy renewable electricity by the fourth quarter of this year, a government official said, putting more detail on a program designed to stimulate the kingdom’s wind and solar industry.
The government will auction power-purchase agreements covering 620 megawatts of photovoltaic installations and 400 megawatts for wind farms in its second round of tenders for the technologies, said Turki al-Shehri, head of renewable energy project development at the Ministry of Energy, Industry and Mineral Resources.