The world’s largest oil company invests in a solar power plant
The world’s largest oil company invests in a solar power plant
Saudi Aramco, the largest oil company in the world, has become a shareholder in the project to construct a solar power plant … 15.08.2021, Sputnik Mondo
2021-08-15T23:55+0000
2021-08-15T23:55+0000
2021-08-15T23:55+0000
Economie
Kingdom Saudi Arabia
Solar energy
comp
Aramco Saudi Arabia
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The Sudair solar power plant is part of the renewable energy program in Saudi Arabia, which was announced by the authorities in April 2021. The first phase of the project is expected to be completed in the second half of 2022, at which point the plant will start operating. At an estimated cost of approximately $1 billion, Sadir Solar will be one of the largest single-decade solar PV plants in the world and the largest of its kind in the country. It will supply 185,000 homes at very low rates, and will reduce air emissions by 2.9 million tons annually. Saudi Aramco has invested for the first time in a renewable energy project. The company is considered a world leader in oil reserves and production, as well as being the main source of income for the budget of Saudi Arabia. It will own 30% of Sudair Solar, while 35% will be controlled by the Public Investment Fund for Renewable Energy, and the remaining 35%, by ACWA Power. The Kingdom of Saudi Arabia has started to develop the project under the Energy Efficiency Program approved by the G20. The construction of the solar power plant is a testament to the Kingdom’s continuous efforts to reduce emissions from the energy sector, they assert at ACWA Power, and decarbonization has been a trend in recent years due to the climate agenda. Countries all over the world are working to reduce emissions and develop renewable energy sources.
Saudi Arabia, solar energy, companies, Saudi Aramco
Saudi Aramco, the world’s largest oil company, has become a shareholder in a project to build a 1.5-GW solar power plant in Saudi Arabia’s Sudair region, according to an ACWA Power report.
The Sudair solar power plant is part of the renewable energy program in Saudi Arabia, which the authorities announced in April 2021. The first phase of the project is expected to be completed in the second half of 2022, at which point the plant will start operating. Energy.
At an estimated cost of around $1 billion, Sadir Solar will be one of the largest single-decade solar PV plants in the world and the largest of its kind in the country. It will supply 185,000 homes at ultra-low rates and will also reduce air emissions by 2.9 million tons per year.
Saudi Aramco has invested for the first time in a renewable energy project. The company is considered a world leader in oil reserves and production, as well as being the main source of income for the budget of Saudi Arabia. It will own 30% of Sudair Solar Energy, while it will control 35% of the Public Investment Fund for Renewable Energy, and the remaining 35% for ACWA Power.
The European Union invests 122 million euros in projects to decarbonize the economy
Saudi Arabia has started developing the project under the Energy Efficiency Program adopted by the G20. The construction of the solar power plant is a testament to the Kingdom’s continuous efforts to reduce emissions from the energy sector, as they assert in ACWA Power.
Decarbonization has been a trend in recent years due to the climate agenda. Countries all over the world are working to reduce emissions and develop renewable energy sources.
