Saudi Arabia to Invest $133-bn in Energy

EFT Report, Dubai: Energy consumption in Saudi Arabia is witnessing an unprecedented growth, prompting a wave of investments expected to reach $133 billion (502.5 billion Saudi riyals) for various power generation and water projects in the next decade, organizers of an industry event said.

Al-Zour Power & Water Project

Earlier, the Kingdom had announced that it would spend $109 billion over the next two decades to produce 41,000 megawatts of solar power capacity, setting up the King Abdullah City for Atomic and Renewable Energy to achieve this aim.

Saudi Arabia has also invested $100 billion to build 17 nuclear reactors.