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Sudi Arabia plans to go renewable
- Vladimir Franki
- Feb 14, 2017
- 1 min read
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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