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Solar Energy in Saudi Arabia Attracts Japanese, French Investments

Clean energy projects are key drivers to achieving sustainability and avoiding carbon emissions. (SPA) 
Clean energy projects are key drivers to achieving sustainability and avoiding carbon emissions. (SPA) 
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Solar Energy in Saudi Arabia Attracts Japanese, French Investments

Clean energy projects are key drivers to achieving sustainability and avoiding carbon emissions. (SPA) 
Clean energy projects are key drivers to achieving sustainability and avoiding carbon emissions. (SPA) 

A consortium consisting of Japanese Toyota Tsusho, French TotalEnergies Renewables, and Saudi Altaaqa Renewable Energy (a Zahid Group company) has completed a $100 million funding to construct a solar energy plant in the Kingdom.

 

The solar plant to be located in Wadi Ad Dawasir is the first renewable project in Saudi Arabia for Toyota Tsusho.

 

The construction of the plant, with a power generating capacity of 119MW, is expected to start in March 2025, according to a statement issued by the Japanese firm on Wednesday.

 

The project will be constructed as an independent power producer (IPP) for the sale of electricity.

 

This project will be implemented by three companies, Toyota Tsusho, TotalEnergies Renewables, and Altaaqa Renewable Energy through a joint venture company, Noor Alwadi Renewable Energy Company, the statement added.

 

Shares of Noor Alwadi Renewable Energy Company are distributed as follows: Toyota Tsusho 40%, TotalEnergies Renewables 40%, and Altaaqa 20%.

 

The Water and Electricity Holding Company (Badeel), a wholly owned company of the Public Investment Fund (PIF), and ACWA Power announced a month ago the signing of power purchase agreements (PPAs) with the Saudi Power Procurement Company (SPPC) for the development, and operation of three major new solar PV Independent Power Producer (IPP) projects in Saudi Arabia.

 

The combined value of the three projects is 12.2 billion Saudi riyals ($3.25 billion).

 

The projects are part of the National Renewable Energy Program, which is supervised by the Ministry of Energy, and aims to develop 70% of the renewable energy target capacity in Saudi Arabia by 2030.

 

Moreover, Saudi Arabia has launched five projects to produce electricity using renewable energy, with a total capacity of 3,300 megawatts.

 

Saudi Arabia aims to have 50 percent renewable energy by 2030.

 

Clean energy projects are key drivers to achieving sustainability and avoiding carbon emissions.

 

Saudi Arabia also plans on achieving net zero by 2060 through more than 60 projects under the Saudi Green Initiative launched by Crown Prince Mohammed bin Salman in Oct. in 2021.

 

It aims to reduce carbon emissions by more than 278 mtpa by 2030, and plant 10 billion trees across the Kingdom.

 

 

 

 

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Emir of Qatar: Inauguration of Two Solar Projects Part of Transition to Renewable Energy

Emir of Qatar Sheikh Tamim bin Hamad Al Thani at the inauguration of two strategic solar power projects in Ras Laffan and Mesaieed. (X)
Emir of Qatar Sheikh Tamim bin Hamad Al Thani at the inauguration of two strategic solar power projects in Ras Laffan and Mesaieed. (X)
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Emir of Qatar: Inauguration of Two Solar Projects Part of Transition to Renewable Energy

Emir of Qatar Sheikh Tamim bin Hamad Al Thani at the inauguration of two strategic solar power projects in Ras Laffan and Mesaieed. (X)
Emir of Qatar Sheikh Tamim bin Hamad Al Thani at the inauguration of two strategic solar power projects in Ras Laffan and Mesaieed. (X)

Emir of Qatar Sheikh Tamim bin Hamad Al Thani inaugurated on Monday two strategic solar power projects in Ras Laffan and Mesaieed with a combined capacity of 875 megawatts (MW).

The projects will more than double Qatar’s solar energy production to 1,675MW of renewable energy.

“The inauguration of two strategic solar power projects in Ras Laffan and Mesaieed comes within the framework of the country's plans to transition to renewable energy, diversify energy sources, and support strategic development projects,” the Emir said.

In a post on his official account on X, Sheikh Tamim wrote, “As part of plans to transition to renewable energy, the Emir inaugurated today two strategic solar power projects in Ras Laffan and Mesaieed,” according to state-run Qatari news agency, QNA.

These plants are also intended to leverage the potential of low-carbon energy in sustainability plans and efforts to mitigate environmental impacts, he added.

Minister of State for Energy Affairs Saad bin Sherida Al Kaabi said the two plants are a fundamental step towards achieving the fourth pillar of the Qatar National Vision 2030, which is environmental management to ensure harmony and consistency between economic and social development and environmental protection.

“It also achieves one of the goals of Qatar's energy sustainability strategy, which is to generate more than 4,000 megawatts of renewable energy by 2030,” said Al Kaabi, who is also President and CEO of QatarEnergy.

These plants are expected to reduce carbon dioxide emissions by about 4.7 million tons annually.

The two stations, he said, along with the Al-Kharsaah plant, will play a significant role in meeting the country's electricity demand, contributing about 15% of the total peak electricity demand.