Saudis Kick Off $50 Billion Renewable Energy Plan to Cut Oil Use
- Energy ministry seeks bidder qualifications for next month
- Bids to be accepted by July for 700MW of wind, solar power
Russia Tops Saudi Arabia as Largest Oil Producer
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Saudi Arabia is kicking off its $50 billion renewable-energy push as the world’s top crude exporter turns to solar and wind power to temper domestic oil use in meeting growing energy demand.
Bidders seeking to qualify to build 700 megawatts of wind and solar power plants should submit documents by March 20, and those selected will be announced by April 10, Saudi Arabia’s energy ministry said Monday in an e-mailed statement. Qualified bidders will be able to present their offers for the projects starting on April 17 through July.