Saudi Arabia puts world’s biggest solar power project on hold
One Saudi energy official commented: “Everyone is just hoping this whole idea would just die”. Looks like it has run into the sand.
H/T DW.com.
Citing Saudi government officials, the US business daily Wall Street Journal (WSJ) reported on Monday that Saudi plans to build the world’s biggest solar power generation facility had been shelved, as the desert kingdom was working on a “broader, more practical strategy to boost renewable energy.”
The solar project was expected to generate about 200 gigawatts of energy by 2030 — more than three times the country’s daily needs.
“It is easy to sway or grab one’s attention, but difficult to do any execution,” WSJ quoted a senior adviser to the Saudi government as saying. Now, no-one was actively working on the project, the source added.
SoftBank, which is a partner in the $200-billion (€172.4-billion) project, was not immediately available for comment. The Japanese financial group together with the Saudi sovereign wealth fund has already created a $100-billion venture, called The Vision Fund, aimed at boosting technology investment in the country, including in Saudi Arabia’s renewable energy sector.
Broader strategy
Despite vast deserts and abundant sunshine, Saudi Arabia currently has no solar power generation capacities, producing its energy primarily from burning fossil fuels.
However, under plans initiated by Crown Prince Mohammed bin Salman it wants to move away from a heavy dependence on its oil sector toward a more diverse structure of its economy.
Continued here.
Source: https://tallbloke.wordpress.com/2018/10/01/saudi-arabia-puts-worlds-biggest-solar-power-project-on-hold/
Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.
"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.
Please Help Support BeforeitsNews by trying our Natural Health Products below!
Order by Phone at 888-809-8385 or online at https://mitocopper.com M - F 9am to 5pm EST
Order by Phone at 866-388-7003 or online at https://www.herbanomic.com M - F 9am to 5pm EST
Order by Phone at 866-388-7003 or online at https://www.herbanomics.com M - F 9am to 5pm EST
Humic & Fulvic Trace Minerals Complex - Nature's most important supplement! Vivid Dreams again!
HNEX HydroNano EXtracellular Water - Improve immune system health and reduce inflammation.
Ultimate Clinical Potency Curcumin - Natural pain relief, reduce inflammation and so much more.
MitoCopper - Bioavailable Copper destroys pathogens and gives you more energy. (See Blood Video)
Oxy Powder - Natural Colon Cleanser! Cleans out toxic buildup with oxygen!
Nascent Iodine - Promotes detoxification, mental focus and thyroid health.
Smart Meter Cover - Reduces Smart Meter radiation by 96%! (See Video).