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Saudi Arabia makes $80 bn of Nuclear power investments

09 Sep 2014
Officials in Saudi Arabia have announced plans to become a major nuclear energy state with investments of $80 billion for the prospective projects.

The investments are set to build over a dozen new nuclear power plants across the Middle Eastern country, with construction expected to begin by the end of the year.

Nuclear and solar power have become central to Saudi Arabia’s energy strategy, and targets outline that nuclear will provide 15% of the country’s power within 20 years, together with a similar 15% from solar power.

Energy consumption in Saudi Arabia is growing faster than any other country in the Middle East and almost all of it is fueled by oil and natural gas.

Total electricity consumption is expected to double by 2030 from 200 billion kWhs per year, and these plans within the nuclear power sector will make significant steps towards supplying this energy.