Saudi Arabia Launches Geographical Survey to Determine Renewable Energy Sites

The signing of the geographical survey contracts for renewable energy projects in the presence of the Minister of Energy (Ministry of Energy website)
The signing of the geographical survey contracts for renewable energy projects in the presence of the Minister of Energy (Ministry of Energy website)
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Saudi Arabia Launches Geographical Survey to Determine Renewable Energy Sites

The signing of the geographical survey contracts for renewable energy projects in the presence of the Minister of Energy (Ministry of Energy website)
The signing of the geographical survey contracts for renewable energy projects in the presence of the Minister of Energy (Ministry of Energy website)

Saudi Arabia launched a geographical survey project to determine renewable energy sites in the country.
The project is the first of its kind in the world in terms of geographical coverage, as it will survey more than 850,000 square kilometers of Saudi land, according to Minister of Energy Prince Abdulaziz bin Salman.
Project execution contracts were awarded to national companies to install 1,200 stations to monitor solar and wind energy in all regions of the Kingdom.
The minister of Energy noted that the new plan falls within the National Renewable Energy Program and will cover all regions Kingdom-wide by surveying more than 850,000 square kilometers, after excluding populated areas, sand dune areas, and airspace restrictions.
The surveyed zone is approximately equivalent to the area of the UK and France combined, he added.
Prince Abdulaziz explained that the project will contribute to identifying the best locations for developing renewable energy plans in Saudi Arabia, in terms of the size of renewable energy resources and the projects’ development priority.
He stated that solar energy monitoring stations, which operate through advanced measuring devices installed on the ground, will determine and record direct natural radiation, terrestrial horizontal radiation, the deposition rate of dust and pollutants, the terrestrial reflection factor, the ambient temperature, and precipitation, relative humidity, and atmospheric pressure.
The minister also said that the wind energy measuring stations, which will be installed at multiple heights, up to 120 meters, will record wind speed and direction, ambient temperature, atmospheric pressure, and relative humidity. The data collection will be done using the latest technologies and the highest quality standards and international practices, he noted.
Prince Abdulaziz went on to say that the project includes establishing a platform to monitor, record and transmit measurement data, around the clock, and to analyze and process it digitally using artificial intelligence, with the aim to evaluate and rank sites in terms of their suitability for establishing renewable energy projects.
In this context, the minister of Energy stated that the accuracy of the data makes the projects more profitable, according to the requirements of local and international financing institutions. This will contribute significantly to the immediate allocation of lands for renewable energy projects, and accelerate the execution process after coordination with the concerned authorities.
The minister said the new geographical survey project aligns with the Kingdom’s commitment to achieving its ambitious goals in producing and exporting renewable energy and boosting the optimal use of renewable energy resources across all regions. It will also help leverage the Kingdom’s strategic geographical location in exporting electricity generated from renewable sources.
According to Prince Abdulaziz, the project will contribute to achieving the optimal energy mix targets for electricity production, with renewable energy sources comprising about 50% of the energy mix by 2030. This is in addition to driving the Kingdom’s move towards hydrogen production, and to achieving the goals of the Liquid Fuel Displacement Program by reducing dependence on liquid fuel in electricity generation.
He further revealed that starting this year, Saudi Arabia will tender new renewable energy projects with a capacity of 20 gigawatts annually, aiming to reach between 100 and 130 gigawatts by 2030, depending on electricity demand growth.

 



US Treasury Targets Russia's Gazprombank with New Sanctions

FILE PHOTO: A bronze seal for the Department of the Treasury is shown at the US Treasury building in Washington, US, January 20, 2023. REUTERS/Kevin Lamarque/File Photo
FILE PHOTO: A bronze seal for the Department of the Treasury is shown at the US Treasury building in Washington, US, January 20, 2023. REUTERS/Kevin Lamarque/File Photo
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US Treasury Targets Russia's Gazprombank with New Sanctions

FILE PHOTO: A bronze seal for the Department of the Treasury is shown at the US Treasury building in Washington, US, January 20, 2023. REUTERS/Kevin Lamarque/File Photo
FILE PHOTO: A bronze seal for the Department of the Treasury is shown at the US Treasury building in Washington, US, January 20, 2023. REUTERS/Kevin Lamarque/File Photo

The United States imposed new sanctions on Russia's Gazprombank on Thursday, the Treasury Department said, as President Joe Biden steps up actions to punish Moscow for its invasion of Ukraine before he leaves office in January.
The move, which wields the department's most powerful sanctions tool, effectively kicks Gazprombank out of the US banking system, bans its trade with Americans and freezes its US assets, Reuters reported.
Gazprombank is one of Russia's largest banks and is partially owned by Kremlin-owned gas company Gazprom. Since Russia's invasion in February 2022, Ukraine has been urging the US to impose more sanctions on the bank, which receives payments for natural gas from Gazprom's customers in Europe.
The fresh sanctions come days after the Biden administration allowed Kyiv to use US ATACMS missiles to strike Russian territory. On Tuesday, Ukraine fired the weapons, the longest range missiles Washington has supplied for such attacks on Russia, on the war's 1,000th day.
The Treasury also imposed sanctions on 50 small-to-medium Russian banks to curtail the country's connections to the international financial system and prevent it from abusing it to pay for technology and equipment needed for the war. It warned that foreign financial institutions that maintain correspondent relationships with the targeted banks "entails significant sanctions risk."
"This sweeping action will make it harder for the Kremlin to evade US sanctions and fund and equip its military," Treasury Secretary Janet Yellen said. "We will continue to take decisive steps against any financial channels Russia uses to support its illegal and unprovoked war in Ukraine."
Gazprombank said Washington's latest move would not affect its operations. The Russian embassy in Washington did not respond to requests for comment.
Along with the sanctions, Treasury also issued two new general licenses authorizing US entities to wind down transactions involving Gazprombank, among other financial institutions, and to take steps to divest from debt or equity issued by Gazprombank.
Gazprombank is a conduit for Russia to purchase military materiel in its war against Ukraine, the Treasury said. The Russian government also uses the bank to pay its soldiers, including for combat bonuses, and to compensate the families of its soldiers killed in the war.
The administration believes the new sanctions improve Ukraine's position on the battlefield and ability to achieve a just peace, a source familiar with the matter said.
COLLATERAL IMPACT
While Gazprombank has been on the administration's radar for years, it has been seen as a last resort because of its focus on energy and the desire to avoid collateral impact on Europe, a Washington-based trade lawyer said.
"I think that the current administration is trying to put as much pressure and add as many sanctions as possible prior to January 20th to make it harder for the next administration to unwind," said the lawyer, Douglas Jacobson.
Officials in Slovakia and Hungary said they were studying the impacts of the new US sanctions.
Trump would have the power to remove the sanctions, which were imposed under an executive order by Biden, if he wants to take a different stance, Jacobson said.
After Russia's invasion in 2022, the Treasury placed debt and equity restrictions on 13 Russian firms, including Gazprombank, Sberbank and the Russian Agricultural Bank.
The US Treasury has also worked to provide Ukraine with funds from windfall proceeds of frozen Russian assets.