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October 2, 2018 12:45 am

Saudi Arabia Puts World's Biggest Solar Power Project On Hold

An anonymous reader quotes a report from Deutsche Welle: Citing Saudi government officials, the U.S. business daily The Wall Street Journal (WSJ) reported Monday that Saudi plans to build the world's largest solar power generation facility had been shelved, as the desert kingdom was working on a "broader, more practical strategy to boost renewable energy." The solar project was expected to generate about 200 gigawatts of energy by 2030 -- more than three times the country's daily requirement. "It is easy to sway or grab one's attention, but difficult to do any execution," WSJ quoted a senior adviser to the Saudi government as saying. Now, no one was actively working on the project, the source added. [T]he country's entry into the solar market is being hampered by high costs and logistical issues. The project's first phase alone was expected to gobble up $1 billion, and was due to be funded by the Vision Fund this year. According to the Saudi officials cited by WSJ, Riyadh hadn't yet made any decisions on the project's details, including land acquisition, the structure of development or whether it would receive subsidies from the state. "Everyone is just hoping this whole idea would just die," a Saudi energy official familiar with the matter was quoted as saying. Instead, Saudi officials said the government was now devising a broader renewable energies strategy to be announced in late October, which would help clarify renewable energy goals.

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