Saudi Arabia is planning a $7 billion spend on renewable energy projects in 2018, with solar at the forefront. Tenders will be issued this year for eight projects running to over 4 gigawatts of capacity.
The country, like other oil producers, want to boost renewables to supply growing domestic energy consumption so that they can export as much crude oil as possible.
Saudi Arabia earlier this month shortlisted bids by Acwa Power and a Marubeni–led consortium to develop its first-ever solar power plant. The kingdom is also developing its first wind scheme in the form of a 400MW project in Dumat Al Jandal.