The Saudi Energy Ministry reported that it had set up its first solar projects on Saudi Holding, which is engaged in renewable energy development, Aqua Power.
The ministry noted that an agreement on the development of a 300 MW solar project will be signed on the 7th of this month between the Saudi Electricity Company and Aqua Power.
The ministry added that the agreement may include private sector investments totaling 300
The ministry said that the financial aspects of the project would be agreed by the end of February and that commercial operation would begin next year.
By 2023, Saudi Arabia aims to generate 9.5 gigawatts of electricity annually using renewable energy  Source: Reuters