According to a report released by Bloomberg, Saudi Arabia is planning various solar and wind projects that are expected to substantially boost export revenue. Officials have said the decision is expected to generate 7,000 jobs by 2020.
The country has already shortlisted companies for the projects, with EDF, Mitsui & Co. and Saudi Acwa Power among the firms that have qualified to bid for a 300 megawatt solar PV project in Sakaka.
"The market response to the Kingdom’s invitation to its first renewable energy projects has been overwhelmingly positive, demonstrating market confidence in our vast renewable energy potential and investment environment," said Saudi Energy Minister Khalid Al Falih.
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