Money and business

Wall Street Journal: Saudi Arabia turns from oil into a “great solar power”


A newspaper was authorized "Wall Street Journal" The American, in a report, sheds light on the boom that Saudi Arabia made regarding the diversification of Energy sources , noting that despite the oil abundance of the Kingdom, it has turned into one of the fastest countries in the world growing in the field of solar energy. Factories, and artificial intelligence centers that need an abundant amount of energy. "Jim Chenger Solar" The American for solar panels, Andrew Warden, that Saudi Arabia’s renewable energy plans seemed far -reaching when we heard about it about a decade ago. But recently, it has become a vital market, and it has now doubled its size to meet the demand. " Aqua Power "Last July, it will invest $ 8.3 billion in 15 GB renewable energy projects, most of which are solar energy, along with some wind energy. This is in addition to larger projects currently under construction, according to the research company "Risad Energy"
expect "Risad" This great progress would put Saudi Arabia among the 5 largest global solar energy markets by 2030.

Reducing the costs of huge investments Akoa and others recently sold electricity with less than 1.3 cents per kilowatt hour (enough to operate a microwave for an hour), or approximately a third of prices in Spain, which is the lowest in Europe. /> This is a bright point for expensive development projects, such as the construction plan of 50 luxurious hotels over an area of ​​more than 10,000 square miles of the Red Sea Islands and its coast. A spokesman for the tourism project stated that the five hotels that have opened so far operate with the solar energy system and batteries installed by Aqua Power." target ="_Blank"> Gulf , as it owns a company "Aqua Power" A growing portfolio of energy projects in Africa and Asia. The company is working to build the largest facility in the world to use renewable energy sources to produce and export hydrogen. Last July, the company announced that it is studying the idea of ​​sending electricity to Europe within an alliance that includes transport technologies and European power companies.

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