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Briefing
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- Sakaka Solar Farm – Riyadh contracted energy firm ACWA Power to build $300 million solar farm in Sakaka, northern country, for $2-3 cents per kilowatt hour of electricity, less expensive than fossil fuel
- 2018 Goal – Aims to invest up to $7 billion in seven new solar plants and one large wind farm
- Energy Mix – Targets 10% of power needs generated from renewables by 2023
- Abundant Resources – Country’s climate and location makes for ideal spots for solar and wind farms
- Reduced Oil Consumption – Saudi’s fossil fuel plants burned 680,000 barrels of oil per day in June 2017, down from almost 900,000 barrels in 2015
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