Saudi Arabia Plan $109 Billion Solar Energy Project to Reduce Oil Consumption
If
Saudi Arabia doesn’t develop an efficient, renewable energy
infrastructure soon, it could burn 850 million barrels of oil each year
until 2030; 30% of its total production. As the largest oil producer in
the world it has no fear of running out, but it represents a huge
portion of potential revenue that would be lost. Currently the Middle
Eastern nation only boasts 3 megawatts of solar power, less than Egypt,
Morocco, Tunisia, Algeria and the United Arab Emirates. In order to
avoid this fate Saudi Arabia is seeking investors to back its…Read more...
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