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Sudi Arabia plans to go renewable

February 14, 2017

Saudi Arabia, OPEC's largest oil producer plans to develop about 10 GW of renewable energy projects by 2023, mostly wind and solar. The decision was partly motivated by a slump in oil prices which considerably reduced the country's fianncial reserves. Saudi Arabia now sees diversification of the energy portfolio as a necessary step towards improving the country's energy security.

 

Source: Bloomberg

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