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Saudi Arabia develops energy projects to reduce oil consumption

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Saudi Arabia develops energy projects to reduce oil consumption

Saudi Arabia intends to develop 30 projects in the field of solar and wind energy to increase electricity production and reduce consumption of oil, said Minister of Energy, Industry and Mineral Resources of the country, Khalid al-Falih at a conference in Riyadh.

According to Khalid al-Falih, the projects will be developed over the next 10 years under the $ 50-billion program for increasing the electricity production. It is assumed that under this plan the world's largest exporter of oil will produce 10% of its energy with the use of renewable energy sources and nuclear power stations.

The Minister noted that in the fourth quarter of this year, Saudi Arabia would offer a tender for the production of 400 megawatts of wind energy within the framework of a project implemented in the country’s northern region of Domat al-Jandal.

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